Do you think Malta is trying to regulate cryptocurrency??

South Park

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Quote from: gamerfan on October 28, 2017, 03:28:26 PM

Quote from: BiteMyCoin_Original on October 26, 2017, 04:58:50 AM

So Malta has been in the news pretty much for a whole year due to multiple blockchain/cryptocurrency updates. Now, they're trying to come up with a regulation for cryptocurrency investment and I'm wondering if it's one of the first steps to actually get their hands on cryptocurrency or they just want to protect investors from ICO scams and fraud? What does everyone else think? Here's the article link: http://bitemycoin.com/news/malta-proposes-rules-for-cryptocurrency-investment

I think Malta government is trying to protect its banks. Don't forget Malta is one of best known tax havens in Europe and thus Bitcoin can be seen as a rival, because many people already use Bitcoin for tax avoidance and not tax havens like Malta.

If they really want to protect themselves and bring money to them they could as well legalize bitcoin and allow all the people there to not pay taxes in their bitcoin earnings, if they did that they will get a lot more money than the money they are losing in theory.

BADecker

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All governments and banking systems are trying to regulate Bitcoin. Why? Because Bitcoin takes power and profit away from them.

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rayneh

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Quote from: gamerfan on October 28, 2017, 03:28:26 PM

Quote from: BiteMyCoin_Original on October 26, 2017, 04:58:50 AM

So Malta has been in the news pretty much for a whole year due to multiple blockchain/cryptocurrency updates. Now, they're trying to come up with a regulation for cryptocurrency investment and I'm wondering if it's one of the first steps to actually get their hands on cryptocurrency or they just want to protect investors from ICO scams and fraud? What does everyone else think? Here's the article link: http://bitemycoin.com/news/malta-proposes-rules-for-cryptocurrency-investment

I think Malta government is trying to protect its banks. Don't forget Malta is one of best known tax havens in Europe and thus Bitcoin can be seen as a rival, because many people already use Bitcoin for tax avoidance and not tax havens like Malta.

Actually if they are protecting there banks then they doing wrong thing they should need to give a chance to bitcoin. They should need to start a new policy about bitcoin that they can easily accept bitcoin in there banks by accepting bitcoin there country will even go more to rich.

gamerfan

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Quote from: BiteMyCoin_Original on October 26, 2017, 04:58:50 AM

So Malta has been in the news pretty much for a whole year due to multiple blockchain/cryptocurrency updates. Now, they're trying to come up with a regulation for cryptocurrency investment and I'm wondering if it's one of the first steps to actually get their hands on cryptocurrency or they just want to protect investors from ICO scams and fraud? What does everyone else think? Here's the article link: http://bitemycoin.com/news/malta-proposes-rules-for-cryptocurrency-investment

I think Malta government is trying to protect its banks. Don't forget Malta is one of best known tax havens in Europe and thus Bitcoin can be seen as a rival, because many people already use Bitcoin for tax avoidance and not tax havens like Malta.

South Park

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Quote from: Palmerson on October 26, 2017, 06:45:58 AM

I think that every country will find its own way of legalizing bitcoin. Among the founders of ICO is indeed a lot of scams and probably many States will unite in the fight against ICO. This will increase the capitalization of bitcoin. It seems to me that bitcoin will be used as an alternative to offshore. Even if some States continue to strictly control the turnover of cryptocurrency will be the country that will become a tax haven for the bitcoin community.

I think this is going to happen at some point in the future, there are going to be countries that legalize bitcoin and that they are not going to charge you any income tax and capital gains tax effectively becoming a bitcoin tax haven, and those countries are going to get a lot of investment from bitcoin users all over the world.

kingntking

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Quote from: manirobson on October 26, 2017, 10:20:39 AM

Every country will try to moderate or regulate bitcoin as much as they can, sometimes for selfish reasons. but bitcoin will grow significantly in the next couple of years.

I am sure that the coming age will definitely be a digital age so to compete with other countries it is the need of each country to regularize and legalize bit coin in their country for self sufficiency and prosperity of the people of that country.

Nathan047

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Without more details it is really hard to say what their intentions are. The could be trying to get their foot in the door to regulate cryptos, the could be trying to protect naive investors from scams, or they could have no idea what cryptos are and they are just regulating them because they sound bad.

Irvinn

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In connection with the strengthening of the role of the crypto currency in the life of the entire population of the Earth and the significant impact on the economy of virtually all states, now each state has faced the problem of legalizing the crypto currency, that is, determining the rules for its circulation inside the country and levying a profit tax on this type of activity. Therefore, such regulation is an inevitable and legitimate process. If the state sets the rules for the circulation of the crypto currency, it does not harm the crypto currency, on the contrary, it receives judicial protection and protection from other state bodies. Therefore, I believe that the events regarding the crypto currency in Malta are normal, but it is necessary to get acquainted in detail with the regulatory acts adopted there.

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Quote from: gentlemand on October 26, 2017, 06:45:36 AM

The first places to clarify crypto's position and help to nurture it will reap vast benefits in the future. If they're wise they'll be coming up with measures to stop this ICO shit from blowing up as well as making sure the legit projects can thrive.

I think this is correct, a country that regulates crypto but only enough just to make sure things are legal and not in an attempt to curb its use is going to become a bitcoin financial hub, and this is going to generate a lot of jobs and money for the country able to find the perfect recipe.

manirobson

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Every country will try to moderate or regulate bitcoin as much as they can, sometimes for selfish reasons. but bitcoin will grow significantly in the next couple of years.

Flodemaga

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Well i believe they are trying to make the same as China did, put all companies into some regulamentation, paying their fees to the country, and protecting users to invest blind at any exchange as well ICO. I wouldnt be surprised if they join Japan into bitcoin and crypto legalization, a lot people already understood there is no way to stop crypto, but unlike the last years were anybody could easy scam others, countries are taking some measures to make the crypto world a safe place to invest.

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Malta had been trying to position themselves to be the epicenter for online gambling for many years.

They see that cryptocurrency will grow this industry significantly.

According to Coindesk, gambling and cryptocurrencies have huge potential. They call it the perfect storm.

https://www.coindesk.com/national-economics-gambling-cryptocurrency-perfect-storm/

Palmerson

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I think that every country will find its own way of legalizing bitcoin. Among the founders of ICO is indeed a lot of scams and probably many States will unite in the fight against ICO. This will increase the capitalization of bitcoin. It seems to me that bitcoin will be used as an alternative to offshore. Even if some States continue to strictly control the turnover of cryptocurrency will be the country that will become a tax haven for the bitcoin community.

gentlemand

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The first places to clarify crypto's position and help to nurture it will reap vast benefits in the future. If they're wise they'll be coming up with measures to stop this ICO shit from blowing up as well as making sure the legit projects can thrive.

Herbert2020

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there are a lot of different countries that are currently setting new rules for cryptocurrencies in general. it is only a natural thing to do when the market is growing this big and this fast. they all used to only give warnings but now that bitcoin most of all is being adopted more, consequently they will be issuing more regulatory rules for it also.

you don't have to worry about these things though. regulations are mostly a good thing for cryptocurrency world and they actually have been in most cases so far. they can help the adoption a lot.

Iranus

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The crypto market is still a bit of a wild west as of yet, which I have a lot of fun navigating.

It's certainly interesting, but sooner or later countries are going to start regulating whatever parts of it are centralised that they can handle. That means unlicensed investment programs (Ponzi schemes); exchanges; fundraising such as ICOs; and spending it at merchants.

Regulated industries can still commit fraud or have monetary problems, but it's less likely and governments are more likely to favour regulation.

dothebeats

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The latter would be the most plausible answer. It is possible that they are trying to regulate the coin not for their government's sake but for their people who looks into investing with the coin to ensure that they aren't getting involved into some fraudulent activities and to protect the interest of their citizen (hopefully). If they got better laws that defined bitcoin better, that would be perfect.

BiteMyCoin_Original

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So Malta has been in the news pretty much for a whole year due to multiple blockchain/cryptocurrency updates. Now, they're trying to come up with a regulation for cryptocurrency investment and I'm wondering if it's one of the first steps to actually get their hands on cryptocurrency or they just want to protect investors from ICO scams and fraud? What does everyone else think? Here's the article link: http://bitemycoin.com/news/malta-proposes-rules-for-cryptocurrency-investment

https://imgur.com/a/vjY8o

Topic: Do you think Malta is trying to regulate cryptocurrency?? (Read 333 times)