European Union official suggests that Bitcoin will not be regulated

BartS

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Quote from: bob3772 on January 15, 2018, 01:24:39 PM

Quote from: criptogenious on December 28, 2017, 07:21:43 AM

Regulators in Europe have tried to pressure the European Commission to put Bitcoin under a magnifying glass in one way or another. However, there are other characters that sometimes make us believe that these efforts are over, at least for now.

I don't really see how bitcoin itself can be regulated, the money flowing in to and out of bitcoin can be regulated in terms of tax evasion, money laundering, corruption etc, but those are all things that come under law already so no further regulation is really needed, just perhaps a different approach to it.

That would be the right thing to do but that is not what they want, remember governments of the world are addicted to power so they cannot stand to have something they cannot control, if they cannot control the currency then they lose all control since very soon people will be able to do as their wish with their money without any kind of entity having any kind of oversight about what they do with their money.

Naficopa

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Quote from: criptogenious on December 28, 2017, 07:21:43 AM

Regulators in Europe have tried to pressure the European Commission to put Bitcoin under a magnifying glass in one way or another. However, there are other characters that sometimes make us believe that these efforts are over, at least for now.

At the moment, the EU may not have an idea how to regulate a decentralized market. I would definitely watching this and finally bring some regulation.

bob3772

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Quote from: criptogenious on December 28, 2017, 07:21:43 AM

Regulators in Europe have tried to pressure the European Commission to put Bitcoin under a magnifying glass in one way or another. However, there are other characters that sometimes make us believe that these efforts are over, at least for now.

I don't really see how bitcoin itself can be regulated, the money flowing in to and out of bitcoin can be regulated in terms of tax evasion, money laundering, corruption etc, but those are all things that come under law already so no further regulation is really needed, just perhaps a different approach to it.

Granxis

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The European Union countries have a cool attitude towards Bitcoin, and I have not seen their efforts to be fully integrated into Bitcoin, even if it is not exactly a bias against Bitcoin. It would not be wrong to expect a new crypto money test from European Union countries. Bitcoin can be a very negative development, especially in times of crisis.

NicG13

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Regulation might happen sooner than people realize. That's why it's important to continue developing top-privacy coins and technologies such as DeepOnion.

BartS

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Quote from: dewi91 on December 29, 2017, 09:10:38 AM

bitcoin will not be regulated because there's no country can control bitcoin.. bitcoin is decentralized and I think bitcoin does not require regulation.. without regulation bitcoin still strongly and day by day bitcoin users are more increase..

Bitcoin will be regulated, thy cannot change the code but they control the whole fiat system, if you want to buy anything significant with your bitcoin you will need to explain where you got your bitcoin and pay taxes on it, you do not have to like it but that is the way things are going to be from now on, also governments cannot let something like bitcoin unregulated they will disappear if they do that.

chrmn27

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This may be true. Bitcoin to be regulated requires a tremendous work. Bitcoin, especially now that it is becoming more and more huge, will be harder to regulate.

Naoko

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I also believe that it is impossible to regulate, since it is decentralized, we just need to accept this fact and everyone will be happy)

ladydark

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Quote from: squatz1 on December 28, 2017, 11:14:02 AM

Quote from: akram143 on December 28, 2017, 07:49:14 AM

Quote from: criptogenious on December 28, 2017, 07:21:43 AM

Regulators in Europe have tried to pressure the European Commission to put Bitcoin under a magnifying glass in one way or another. However, there are other characters that sometimes make us believe that these efforts are over, at least for now.

Yeah it is highly impossible to regulate the use of bitcoin because it is anonymous and there is no way to trace the usage of bitcoiners.So no government can put rules and regulation for using bitcoin.

That just simply isn't true. There are actually people that have professions of tracking within the blockchain, and they sure as hell do a pretty good job cause most people don't do their due dilligence when it comes to using Bitcoin as they don't even make it more secure for themselves. Bitcoin can be made more secure and anon, away from the watchful eye of people who want to know what you're doing -- but it isn't easy.

Bitcoin will be regulated heavily, but only when itis something that is hurting the big powers.

Yes they could do it to some extent. But what the major thing that they could possibly do is to regulate bitcoin exchanges and ask them to strictly follow the KYC for the users so that bitcoin users could be traced.

MairaObergh

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Either way, they can't stop something that's decentralized and world wide. People could still have it. As long as people can buy them with fiat.

bigmaster23

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Can it affect the natural way of bitcoin circulation if this happens, it such a bad decision for them to make but we still have another country for bitcoin to arise!

fachant

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Quote from: criptogenious on December 28, 2017, 07:21:43 AM

Regulators in Europe have tried to pressure the European Commission to put Bitcoin under a magnifying glass in one way or another. However, there are other characters that sometimes make us believe that these efforts are over, at least for now.

European Union, even if you don't hear about it, certainly works on the regulation of cryptocurrencies. It's becoming a large market and the EU likes to control everything. In addition, crypto hits the banking and tax system.

RamBahadur.Gurung

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Quote from: criptogenious on December 28, 2017, 07:21:43 AM

Regulators in Europe have tried to pressure the European Commission to put Bitcoin under a magnifying glass in one way or another. However, there are other characters that sometimes make us believe that these efforts are over, at least for now.

I am confused about this. So is this a good news or bad news for the Bitcoin users in Europe? Lack of regulation means lack of legality as well, right? And what about the impact on taxes?

cr_liev

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Quote from: cynical on December 28, 2017, 11:23:46 AM

i cannot see how bitcoin can be regulated.
i think its impossible to prevent people from buying into it.
they may look to collect tax revenue from people liquidating crypto into fiat but im not sure how that can be done because of the unregulated nature of crypto.

It depends on the amounts people convert into fiat. The enormous amounts are not likely to pass by banks and Revenue Service unnoticed. In some highly corrupted countries like mine it could be a problem - even though crypto is not recognized in the legislation. They will find the way to take your money form you Embarrassed

Andrej Peiboski

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Does anyone have an official source for these affirmations?
All Europe is watching at Bruxelles - with a sort of panic... - just to see what terrocrats can invent to stop cryptocurrecies.
I'm very skeptic they won't take some repressive decisions.

BartS

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Quote from: Hydrogen on December 28, 2017, 05:20:36 PM

I think there are two main opposing forces, here.

#1 Bankers, credit card companies, paypal and similar entities who want bitcoin regulated or banned to reduce competition in the banking and electronic transaction industry. These demographics lobby politicians to legislate anti-bitcoin laws.

#2 Wealthy investors, speculators and businessmen who do not want bitcoin regulated. I would guess the Winklevoss Twins and other wealthy demographics who wield political influence oppose bitcoin legislation.

Of course, there could also be a 3rd demographic consisting of activists, bitcoin supporters, economists and others concerned with deficit and debt in our world, who do not want bitcoin regulated. They know a regulated bitcoin could possibly carry restrictions which would prevent it from being an effective store of value in the event of default and hyperinflation.

Its interesting to note how bankers and investors could be split on this issue. Their goal has historically been to show a united front to the world. If they begin to oppose each other on issues and engage in conflict, things could get interesting(and messy).

This is because this is the first time in a long time in which the emission of money has been separated from banks and governments, when it comes to regulation oft he stock market and similar instruments banks and investors want the same thing a deregulated market, but with bitcoin banks want bitcoin regulated or destroyed but investors want the same thing they always want an unregulated market.

audrey12

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I think governments will really put their eyes towards regulation with regards to bitcoin as well as all other crupto currencies especially now that they see how these currencies greatly affects the economy. They are afraid of the time that they will lose control over the fiat and that the technology of bitcoin will dominate the market. I hope bitcoin will able to overcome those trials

gantez

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I also think that it would be a difficult thing to regulate the use of bitcoin because of the nature of bitcoin. Bitcoin is not a bank related affair, decentralized and peer to peer. Even some investors can avoid to use the bitcoin cards where it is available. So, tracing it will be difficult.

won99

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I think to regulated bitcoin must be prepare and many steps to regulated bitcoin, so it is little possibility to regulated bitcoin. Ni doubt with any chance and always fo the best

hase0278

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Quote from: 100kk on January 02, 2018, 07:55:36 AM

Over time, all countries will have to decide on ways to regulate bitcoin and other cryptocurrencies.

That time is sure to come and is drawing near since there will come a time when btc and crypto would be used massively in crimes and in money laundering, more than how it is probably used by some to do the same act covertly and it will happen in a bigger scale. By that time, government's would have to find a way to regulate cryptocurrency use one way or another to prevent or minimize those acts.

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