Government regulation on cryptocurrency, GOOD or BAD? - page 23.

BaraxLo

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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?

Some people here are thinking that when cryptocurrency ‘ starts to be regulated by the government that it will take away scammers and end volatility and all those other stuff. But that’s totally wrong, government regulation might even make everything to be worst.

It can’t stop, and its also not going to end hackers, it will all still continue and they will also add tax to it and we will all begin to pay tax despite the fact that nothing changes.

jeronimosuykens

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Quote from: Rufsilf on July 21, 2018, 09:22:54 PM

Quote from: East2011 on July 21, 2018, 07:22:45 PM

I think there is a good effect if government will regulate cryptocurrency. They can make cryptocurrenncy more secure. Especially from scammers.

Yes that is one of the most obvious effect of the regulation for the cryptocurrency because there will be a high security for the cryptocurrencies and so the scammers will not have any chance to take advantage of the people's ignorance because they can't execute their plans because of the regulation.

A cryptographic government must have reason to believe that cryptography will be very useful for economic development in a country because cryptography can facilitate speed, security and convenience. While for some countries the encryption declines, they argue that cryptography is risky because rapid and sometimes uncontrollable changes are very likely to cause economic turmoil in a land. when the government is not ready to deal with it.
In fact, they have implemented a number of regulations that have put forward some negative and positive responses to the implementation of electronic money regulations such as the implementation of KYC (Knoy Your Client) on the local exchange Signing up ICO projects with government concerns,...

Eigig

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The government regulation on cryptocurrency, will be implemented if cryptocurrency will really be accepted and legit in a certain country, it be truly decentralized because government will governs and monitor the activities of this cryptocurrency.

Coinworld98

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With the rising rate of fraud and scams in the crypto space particularly the ICOs, I don't think regulation by the government is a bad idea. It is a right move.

furry04

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In my opinion they can be considered as good because it will serve too much for the adoption of btc itself where so many businesses and people would know that they are not using an illegal currency as many of them think so.

jaysabi

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Quote from: Alert31 on July 23, 2018, 08:31:51 AM

I think if Government regulate cryptocurrency there is good and bad effects. Good because we can use cryptocurrency legally and freely without fear and doubt. Bad because we are obliged to pay taxes and follow all the rules and regulation implemented by the government.Decentralization and anonymity will disappear. Maybe there are a lot of limitation in using cryptocurrency but it depends on the governments regulation.

Even if it's not regulated, you're required to pay taxes on it. Regulation doesn't mean taxes. Regulation means control over how it's used for trade or investment. In the United States, it is both currently unregulated on the federal level and you are still required to pay federal taxes on your crypto gains. Regulations are aimed at the businesses that deal in crypto, not the individual user. If there's currently something that's illegal to do with cash, it's currently illegal to do it with Bitcoin. There will be no additional restrictions on you that don't already exist.

Alert31

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I think if Government regulate cryptocurrency there is good and bad effects. Good because we can use cryptocurrency legally and freely without fear and doubt. Bad because we are obliged to pay taxes and follow all the rules and regulation implemented by the government.Decentralization and anonymity will disappear. Maybe there are a lot of limitation in using cryptocurrency but it depends on the governments regulation.

netil

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While government regulations do not have time to catch up with the market. As a result, they are more of a hindrance than stimulate its growth. In the future, when officials stop fearing creep the situation will change.

Naida_BR

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I believe that regulation is good although i am not in fond of government regulation. We need some restrictions in order to reduce scam projects but in a decentralized world we do not need centralized regulatory.
I also think that government regulation is needed in platforms that connect crypto with fiat world like Coinbase, Kraken etc. We cannot overcome regulations there due to the assosiation of in and out worlds.

smartemo

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Its good decision to regulate on cryptocurrency.in case government will developed simultaneously.

carlisle1

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Quote from: metenjean on July 23, 2018, 05:35:39 AM

Its a good thing for a long term growth, government regulation for cryptocurrencies can reduce scam which occurs and mainly become the biggest factor why people avoid investing in it. Also these kind of law can help to control ICOs which keep generating everyday hoping to beat bitcoin or at least make some investor become a billionaire overnight. On the other hand, these kind of regulation takes time and in the mean time i think bitcoin and other crypto still taking pressure waiting the law to be finalize.

Youve got it right there mate,thats why i am PRO government regulation because im not afraid of paying taxes and not afraid being known by the government as long as im not into illegal activities and anu other criminal related actions

This may bring healthy community and large amount from the investors as people might have an assurance from legalizing countries

Adamant06

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Quote from: jonikris on July 18, 2018, 02:38:51 PM

of course it's a good thing for bitcoin with the existence of the rule then all will be safe safe and when the government later apply cryptocurrency system then we must obey it

For me I think it depends on the country and its people. Crypto that regulated by government is a real deal that needs to be fair for both parties. Any concerns in both party should be address to people and its government to have an equal realtionship and to its beneficiary.

metenjean

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Its a good thing for a long term growth, government regulation for cryptocurrencies can reduce scam which occurs and mainly become the biggest factor why people avoid investing in it. Also these kind of law can help to control ICOs which keep generating everyday hoping to beat bitcoin or at least make some investor become a billionaire overnight. On the other hand, these kind of regulation takes time and in the mean time i think bitcoin and other crypto still taking pressure waiting the law to be finalize.

Ava Duvall

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Quote from: BTC-BTC-BTC on July 18, 2018, 11:56:43 AM

Definitely is a good thing for Bitcoin. With the right regulations will protect all the investors and big investment companies will get in only with the right regulation to protect themselves. Also, it should take care of some the scams out there.

Government regulations are definitely needed to an extent. not over doing it by banning but controlling enough to block illegal activities and black market scams

hsyncl

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I think it has a positive effect. Because most people are looking at whether the state is in business when they invest. If the state supports such a formation, the amount of investment now is very comfortable.

the13thsymphony

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It will always depend on who the regulation is implemented by the government. As long as the users of cryptocurrency will be the one who will benefit in the end then no matter what kind of regulation may it be KYC or DAICO for ICOs then it is all goon in the end as cryptocurrency will be legalized on that country.

The cure

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For me,it is really good if the governments in every countries will have a regulations on cryptocurrencies. It seems like a crypto legalization,and the governments will also be benefited through by collecting taxes,where people are primary beneficiaries for every projects that will be done with collected taxes. Also,people will have no doubts on every time doing any crypto activities.

nickwen

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Quote from: jarojak on July 18, 2018, 09:25:09 AM

I think regulation mean that cryptocurrency is legal in that country. So it is GOOD.

I also think this is good. If the government does not regulations cryptocurrency, then surely the government will still think that cryptocurrency is bad for their country. The cryptocurrency has government regulations; I think the price of the crypto market will be stable and not manipulated

mazesta

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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?

This rule is very good and can reduce the number of ICO scams and abuses. this regulation in which country? because my country has not made a good rule for the progress of cryptocurrency,

gilangIDR

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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?

Until now the decision that applies to crypto can still be said to be balanced. This means that some governments support the development of crypto and others reject the development of crypto for various reasons. A government that supports crypto must have reason that crypto will be very helpful in economic development in a country because crypto can facilitate speed, security and convenience. While for some countries that reject crypto they argue that crypto is a very risky thing because of rapid and sometimes uncontrollable price changes, it is very possible to create economic turmoil in a country when the government is not ready to cope.

The most important thing now is the regulation, because when there is a definite regulation then the development of crypto can be more controlled and negative things can be avoided. All of us just need to wait for the government's decision now, when governments from different countries make a rule about crypto it will determine how the future will be achieved by crypto.

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