European Union official suggests that Bitcoin will not be regulated

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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.

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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.

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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.

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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.

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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.

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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.

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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)

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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.

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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.

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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!

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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.

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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?

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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

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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.

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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

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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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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.

its very difficult to implement the tax on bitcoin On particular person. we can change the addressee in few seconds , Then it will be impossible to trace where It come and where gone. When Bitcoin mixer service is here Then Other Criminals use Bitcoin To Transfer From one place to another place in few min rather than paying cash.
Indian govt. is also not ready to regulate , they are currently saying keep away from bitcoin if you lost funds do not blame us. And they are charging 30% tax on capital gan currently

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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.

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

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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.

Bitcoin is mostly use by people all around the world due to its anonymous behavior and because it is very difficult to track its transactions. DO I don’t think it is so easy for European or any other government to reach bitcoin or stop its flow in the country as it is already stated as anonymous coin which means no on will be able to track your transactions. This technology is fully developed to secure the transaction which happen in the block.

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Bitcoin is hard to regularized because its a global currency and hving this regulated means one government will take the lead of owning this digital currency. I think even after do many years no country will be able to established control over bitcoin and will never get the opportunity to regularized bitcoin we will only end up having bitcoin in our market as a decentralized currency

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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.

Regulators pushing for that might not have headway at this time but eventually it will still get to that point because the regulation is a sure thing that will be happening. The relief that the unnamed official is trying to pass along can only be temporary because at a point European Union would eventually be forced to take a position.

Today, crypto card services are not expanded beyond citizens within the EU which shows the amount of movement of funds in the crypto world that would be going on courtesy Visa and MasterCard by the time this people give the statistics and supported by the projections of the what likely its going to be in few years, they will be forced to regulate.

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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.

This HAS to be temporary. There's no way that they're going to stick to this statement if everyone ends up using Bitcoin. Think of all the taxes that would be evaded and all the fees bypassed. There's no way any economy or government would let that happen. If bitcoin continues the current growth, I feel like it's going to be a problem that European regulators will have to deal with in 2018. There's really no way to get out of taxes even though people continue to try to find one.

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

European Union official suggests that Bitcoin will not be regulated

That statement is deceiving and you should have backed it with a source. Bitcoin has been regulated in most Countries in the European Union. What is missing is a global comprehensive regulation, but regulations are already there. I live in a EU country and I wish it wasn’t regulated so I wouldn’t need to pay tax, but I think in the long-term, if bitcoin is going to be massively adopted, strict global regulations will come.

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Quote from: LeGaulois on December 29, 2017, 12:12:43 PM

Things are going to change after the next G20, as cryptos will be one of the topics in the next meeting and from what I saw it won't be in favor of Bitcoin and other cryptos.

Exactly. With the recent boom of cryptos, G20 would do everything in its power to protect the best of their interests and try to intervene in the game before it goes out of their control. Banks first and foremost wouldn't love losing money because everyone else is switching to crypto due to it being unregulated and bringing in potential profits. One way or another, there would be a regulation they'd enforce, and that is for sure.

Quote from: LeGaulois on December 29, 2017, 12:12:43 PM

If you think Europe can't regulate Bitcoin then you are somehow wrong. Every European citizen know how banks are so good to trace, regulate, automate, exchange information and so on... When you receive a bank transfer from an exchange, don't worry the automated system knows perfectly what you're doing

Which is why Europe not regulating cryptocurrencies in the near future is too good to be true, because it hurts the interest of their good ol' banks that feed them with fiat and other aids.

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Things are going to change after the next G20, as cryptos will be one of the topics in the next meeting and from what I saw it won't be in favor of Bitcoin and other cryptos.

If you think Europe can't regulate Bitcoin then you are somehow wrong. Every European citizen know how banks are so good to trace, regulate, automate, exchange information and so on... When you receive a bank transfer from an exchange, don't worry the automated system knows perfectly what you're doing

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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..

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I think this is good news for investors who invest with bitcoin because of course this is a freedom where we can freely perform an activity with bitcoin. but on the one hand of course it will be a very controversial thing because what is feared is with a freedom that is obtained of course there will be parties who take advantage of this for a criminal activity such as corruption and other crimes. my current hope is for the government in my country not to forbid bitcoin activities and besides my expectation is there is a legalization that will be applied by the government and I think if the government wants to legalize bitcoin this will certainly make the bitcoin more controlled and certainly no one can use bitcoin for crime.

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And how exactly would they plan their course of action to regulate Bitcoin while there are so many countries in the European Union that have indirectly been active supporters with large volumes of investments with their respective governments knowing of it? It simple wouldn't be possible to regulate a decentralised currency such as Bitcoin in a region like EU even with the multiple nations supporting the cause.

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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.

Right that the state hard to tegulated bitcoin because many people who joining in bitcoin anonymous. We must be patient for this situation always hope the best for our

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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).

I believe that even the wealthy investors would like to see Bitcoin regulated. But it all depends on how those regulations would look like; it's a tremendous job (and learning) to make it right. A proper regulation would make it a great investment vehicle (speculative or not). It's the opposite of banning it.
And I somehow think that they don't regulate it yet to send a signal that they don't take Bitcoin serious. And maybe this is what the bankers want: to have all the means to keep discrediting Bitcoin.

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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.

Bitcoin is one of the largest cryptocurrency. Now a days people are attractive to trade bitcoin. Its so difficult job for European Union to controlled bitcoin.

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First of all, you can not regulate something that you cannot control, and to be specific bitcoin, some may say negative things about bitcoin and we may see a drop, still no one person can control bitcoin, not even an entire country, if we take a lool back what had happened with china, there was a huge drop in the value of bitcoin, still china cannot control bitcoin. Second, they might want to create their.own coin rather than regulating bitcoin, since there is still bitcoins to be mined, they will have no control over it. Lastly, bitcoin is anonymous, how could you control something that you don't even know who has it.

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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.

Agreed, being anonymous of bitcoin is the reason why some of the country are prohibiting to use it or to circulate in their economy. Government does not hold the people, they cannot impose laws and regulation about bitcoin because it is not centralized and the most important, bitcoin is a bubble thing and it can be vanished anytime without the concern of investors.

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So i guess that those are good news right? Then i can not understand why the hell the price is still going down.

Maybe the market is full of fud, but it is full of buyers on GDAX.

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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).

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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.

Regulating bitcoin directly may be very difficult, but you don't necessarily have to trace it directly. If you start keeping track of money coming from off of the grid, chances are, you will be able to identify the money coming off of cryptos. So regulating bitcoin should definitely be possible.

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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.

Source? Because if anything the evidence suggest the opposite, governments are more and more interested in regulating bitcoin and cryptocurrencies just look at what happened in this year, China banned icos and the US won a case against coinbase and in my opinion this is just the beginning, we are going to see more actions like these in the next year.

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Well those are good news after all, we have heard so much fud from the asian countries and that was scaring a lot of people.. when is the price going to go up again? i dont understand why the whole world is now trying to spread fud

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It should not,even in areas where bitcoin isn’t considered illegal, any regulatory hurdles will inevitably hamper innovation. The entire cryptocurrency ecosystem, both legal and otherwise, is evolving so quickly that government regulations can’t even keep up, let alone plan. Legislators are now preparing to make rules for circumstances that have no precedent, that can be hard to understand in their current form, and that will likely not exist tomorrow.
Bitcoin requires a whole new way of thinking, and a much more flexible approach from governments, to allow it to develop legally within the free market and to bestow its benefits on the world’s citizens.

cynical

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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.

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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.

I agree which there are really people who are capable on tracing up transactions since all tx on blockchain can really be traced up on where those funds go but I don't know on how they do it but its really a possible thing.
Back to topic, Its not really already surprising for me for this kind of news which a new country would tend not to adopt or regulate bitcoin which I do really understand their part since they do already saw on the things that would happen if they would accept bitcoin.

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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.

There will always be a push by those within government for greater regulation on bitcoin but the simple fact is that it is very difficult for them to control it. They are missing out on big tax revenue which is their biggest concern. In time I'm sure we will see them implement something in some way but it will take a while before they figure out how to do it and then even more time for it to be put in to place.

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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.

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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.

The Indonesian government is also beginning to fear the development of Bitcoin today, it is very dangerous if people do not understand the risks of investing with Bitcoin.
2018 is a bad day for Bitcoin users in Indonesia.
and who next ..

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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.

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.

criptogenious

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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.

Topic: European Union official suggests that Bitcoin will not be regulated (Read 421 times)