Government regulation on cryptocurrency, GOOD or BAD? - page 15.

Indai24

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Quote from: Sandijoee on August 16, 2018, 01:04:24 AM

What regulation from the government?
if the rules are legal for all countries in the world, I think that is good, even very good. But if banning bitcoin is a bad rule.

In our country bitcoin is not recognized but some vendor accepta it as a mode of payment. When it comes to government regulation I guess they will need to legalized bitcoin so we will be able to determine whether it's a good or bad.

Sandijoee

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What regulation from the government?
if the rules are legal for all countries in the world, I think that is good, even very good. But if banning bitcoin is a bad rule.

jambul_kribo

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with the regulation from the government, this will provide certainty and comfort to invest in cryptocurrency. investors become more secure and are not worried about the funds invested.

Angi

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As for me it is good for those who invest in crypto it will help much more to be legitize and acceptable to people in the country but for bounty hunters do kyc? (know your customer) it would interrupted for us because we wasting our time if we accepted to receive our payments or not so that's the problem that I concern for.

MMS2017

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Governments of the different countries are making a very tough regulation on bitcoin and crypto but sometime it become very bad for the crypto price in the market but soon the government will allow all the crypto.

victoryana

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If the government decides to accept a cryptocurrency transaction, I think it's good for all of our members to have regulations that the mayor will stabilize. The government will make the market more stable.

winterland

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Quote from: jademaxsuy on July 18, 2018, 09:08:06 AM

I came to a realization that government had stepped in already in some countries who are accepted and acknowledge cryptocurrency existence. In fact they made a regulations that has made some negative and positve reactions over the implementation of cryptocurrency regulations like doing KYC (Knoy Your Client) on local exchanges, Registering ICO projects to the government agency concerns and etc which purpose is to prevent illegal or abuse in the use of cryptocurrency from money laundering, funding terrorist groups and etc. Well can you say about this regulations, GOOD or BAD?

Like most things it is a mixed bag, there are some benefits that come from regulations in the market, like institutional investors getting more confidence in the market of cryptocurrencies, but at the same time KYC policies are terrible for us since it takes a lot of anonymity from this market, something that we should strive to get and that it is going to be more difficult as time passes.

Bonsaiav

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Quote from: jademaxsuy on July 18, 2018, 09:08:06 AM

I came to a realization that government had stepped in already in some countries who are accepted and acknowledge cryptocurrency existence. In fact they made a regulations that has made some negative and positve reactions over the implementation of cryptocurrency regulations like doing KYC (Knoy Your Client) on local exchanges, Registering ICO projects to the government agency concerns and etc which purpose is to prevent illegal or abuse in the use of cryptocurrency from money laundering, funding terrorist groups and etc. Well can you say about this regulations, GOOD or BAD?

Actually the government's intention's very good. They will not allow anything that can damage the country's economy. Unfortunately, their thinking about cryptocurrency, in the slightest never develops, it seems they are too worried troubled by the presence of cryptocurrency. So that makes them do not care about the greatness and benefits brought by cryptocurrency.

Yantoaja

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with regulation there is certainly good and bad value, the good side is the possibility that the crypto population will increase sharply because it has been legalized by the government, but the downside is that the decentralization system which has been the main attraction of cryptocurrency will be lost due to intervention from third parties, this means all transactions will be similar to transactions with the Bank. although so many of the bitcoin officials in each country support this, legal status is important.

Rooster101

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That will depend on what kind of regulation the government is imposing. Every country have their own kind of laws or regulations for the use of crypto currencies, some regulations are created to protect its citizen from crypto scams and other illegal use of cryptocurrencies. Some countries imposed strict regulations against the cryptocurrencies by limiting the use of them by their own people. Stricter regulation for the coins can be bad because you can only buy some limited and allowed coins.

Dark Sky

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Quote from: Sarastiche on August 15, 2018, 06:33:57 PM

Government regulation in cryptocurrency is sure a very good development as it will add value to the existence of the crypto space, this will also ensure there is a reduction in scam and hackers activities, as monitoring system will be made available.

yes government can play a good character for this currency if they accept in every country because some countries faced many difficulties by government so that's why if they fear to accept this currency so they should make a group for start a campaign to check those people who are involved for scamming in this currency so that's why scammer and fraud people will never success in their aim because bitcoin is the most important currency for everyone and that's why people are getting a lot of benefits for make their easy life.

ModGirl

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Quote from: CryptomartN on August 15, 2018, 09:59:26 AM

I would prefer cryptocurrency is not regulated by the government.

Not everywhere buy at some places, I have seen a lot of countries which regulated crypto currency because they realized that it is good for country for all those people who has no other source of earning so they are using crypto currency investment to reach their goals, in my place yet it is not regulated but it will be regular soon, I think regulation of bitcoin will leave a good impact on our life so we should not refuse it.

Sarastiche

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BITCOIN IS THE CURRENCY OF THE GLOBE

Government regulation in cryptocurrency is sure a very good development as it will add value to the existence of the crypto space, this will also ensure there is a reduction in scam and hackers activities, as monitoring system will be made available.

t3ChNo

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It should be good IMO. Should bring more people adopting crypto plus a fact that a government accepted crypto.

Pinkris128

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Quote from: jademaxsuy on July 18, 2018, 09:08:06 AM

I came to a realization that government had stepped in already in some countries who are accepted and acknowledge cryptocurrency existence. In fact they made a regulations that has made some negative and positve reactions over the implementation of cryptocurrency regulations like doing KYC (Knoy Your Client) on local exchanges, Registering ICO projects to the government agency concerns and etc which purpose is to prevent illegal or abuse in the use of cryptocurrency from money laundering, funding terrorist groups and etc. Well can you say about this regulations, GOOD or BAD?

The regulation of the government about the KYC was somehow good and bad. It was good because they will know who are their participants. But the bad side of it was sometimes they will just announced it after the campaign. Then people who doesn't have valid id especially student are not able to get their rewards. It was like they waste their time posting for nothing.

South Park

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I am terrible at Fantasy Football!!!

Quote from: bitbunnny on August 12, 2018, 01:56:02 PM

Quote from: South Park on August 12, 2018, 11:58:07 AM

Quote from: jademaxsuy on July 18, 2018, 09:08:06 AM

I came to a realization that government had stepped in already in some countries who are accepted and acknowledge cryptocurrency existence. In fact they made a regulations that has made some negative and positve reactions over the implementation of cryptocurrency regulations like doing KYC (Knoy Your Client) on local exchanges, Registering ICO projects to the government agency concerns and etc which purpose is to prevent illegal or abuse in the use of cryptocurrency from money laundering, funding terrorist groups and etc. Well can you say about this regulations, GOOD or BAD?

In a perfect world we will not need regulation and everything will be fine, but right now there are so many scammers trying to deceive icos that some call for regulation of the market of icos, and right now I am undecided about this, government regulation will definitely reduce the number of scams but I do not like it, in the other hand if enough people lose their money the market of icos will get smaller or even disappear but it seems there are always fools throwing their money at them.

It's true, regulation can help us with scams but not only with that.
Regulation and legal back up will help Bitcoin to get more accepted and introduced in legal businesses and economy. Also, people will have more confidence in something that is legaly regulated so demand will increase and that could lead to price increase.
To my opinion regulation is good and needed.

But that is why it is difficult for me to accept it, I know that what you are saying is correct but I still resist to accept regulation because that is one of the main reasons of bitcoin to exist, to do whatever you want with your money, to have complete control over it, but people are so used to be protected by the government and not to think that it is possible that the governments could take control of this market that way.

BitcoinMarketer39

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ADABsSsSsSsSSSsS

Quote from: Dimon8 on August 15, 2018, 01:34:59 PM

Government regulation of crypto is good for the state, but for the population of this state it is bad. In my country, many people have official income very low, and they are forced to earn a living informally (not to pay taxes).

Taxes is really necessary to improve the economy but the only problem are those government members who are stealing money in the community which makes every people to hate their leaders and avoid paying taxes.

Dimon8

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Government regulation of crypto is good for the state, but for the population of this state it is bad. In my country, many people have official income very low, and they are forced to earn a living informally (not to pay taxes).

inspirone1

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Open and Transparent Science Powered By Blockchain

Quote from: jademaxsuy on July 18, 2018, 09:08:06 AM

I came to a realization that government had stepped in already in some countries who are accepted and acknowledge cryptocurrency existence. In fact they made a regulations that has made some negative and positve reactions over the implementation of cryptocurrency regulations like doing KYC (Knoy Your Client) on local exchanges, Registering ICO projects to the government agency concerns and etc which purpose is to prevent illegal or abuse in the use of cryptocurrency from money laundering, funding terrorist groups and etc. Well can you say about this regulations, GOOD or BAD?

Again it depends on the government that we're talking about because if we will take account on Thailand they made a regulations that are positive and good for the cryptocurrency community overall.

Underlord

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well, we can't see whether it's good or bad because those two things must exist when crypto already has regulations. if there is no regulation, crypto can circulate freely and all transactions can be carried out without a third party and only require a small extra fee, but the downside is that it will be able to bring down the national currency if transactions are carried out on a large scale and can cause criminal issues such as laundering money, etc.
Conversely, if regulations are implemented, the attractiveness of the crypto decentralization system will be lost because of third party interference. All impacts depend on the regulations that the government makes, certain limitations may need to be reviewed.

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