How do you guys think? Do we need regulations in the crypto world? Should only ICO be regulated or legit coins (not "security tokens") too? Can we implement regulations mechanisms in code so that corrupted governmental institutions couldn't manipulate the industry? Can we still have free market with governments' regulations across the world?
Please, share your thoughts. I'm a bit confused about what's happening right now.
Regulations is totally contradictory to crypto. But for me, there are really a lot of scammers out there who took advantage of crypto being no single body to oversee everything that's why its easy for them to get it and exit running away with investors fund. So I agree that we can to put up something to really weed out scams specially in the ICO where every month, hundreds are popping and a big percentage is really to scam people. But I don't agree to have a somewhat universal regulations. For me, each nation should decide how to deal with crypto's.
Yes, we need regulations but I think most of us would prefer somewhat loose regulations, whereas probably politicians will pass very strict ones. They can’t do much to control users making p2p transactions but they can do a lot to control exchanges and that can have a great impact on the market, as we have recently seen.
The alternative to regulations is bans, as bitcoin and cryptos have become too big to be ignored.
But I guess its better to have regulations, than a total ban itself. I don't know how loose a government can be as far as regulations, but levying high taxes is already enough I think. As for the exchanges, KYC is already enough but I don't like the idea of sharing information specially with other entities such as banks. IMHO.
