Topic: Government regulation on cryptocurrency, GOOD or BAD? - page 26. (Read 3350 times)
With government regulation, the more people will accept cryptocurrency and hope it will reduce scam and fraud. I think it's a GOOD thing.
I think that's a good thing, it means the government has accepted and admitted crypto currency so that public trust will increase, and this will automatically attract new investors to buy bitcoin in large amounts of course this will make the bitcoin price of other crypto currency funds soar
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?
Regulations have both good and bad impact. The good thing with regulations will help the crypto community minimize the scam ICOs. Submission of documents are required as proof the the a certain company is legally operational. The bad impact of regulation would be taxation. Our potential earning will become lesser because of the tax deduction. However, I would still prefer regulations because of the scam ICOs. If all IcOs are legit, then the efforts and investments will not be put into waste.
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?
Anyone arguing KYC is a bad thing is probably a scammer or someone who launders money from illegal activities. Our economy is thrives because people are accountable for bad actions, and KYC is a necessary component to holding bad actors accountable and minimizing fraud and illegal activities. Government's forcing KYC on crypto is undoubtedly a good thing. There's a lot of whining and complaining about what governments do or stepping on 'muh freedoms,' but the fact remains that governments main responsibility is to protect individuals from people who seek to do harm, and that includes fostering a stable and transparent economic and financial system, which is the sole goal of KYC.
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?
Honostly I don't mind any of these regulation, as long as I could use bitcoin freely and be able to pay for things directly with it in any supermarket or restaurant, than I would not mind governments accepting under the conditions of providing identity, because I am not afraid of them where my money is going because I have nothing to hide, and if people don't use it for illegal things than they would definetly accept it.
It can help for the ICO's to run legally so it will be a help for the people specially those participating in ICO, and of course it will not end to that regulation it should be broad that also investors will be protected.
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
Government whom critical on Bitcoin Digital transaction or crypto currency, would want to Regulate the business transaction with the use of crypto, for reasons which is not clear to us except, the use of crypto transaction for money laundering, Illegal money transaction with the payment for drugs and other illegal items which under the Regulation of this government, some want to Regulate because of Taxes which they wanted to imposed on every transaction.
As usual, there are always two sides to a coin. A situation will most always have both advantage and disadvantage too. To me, it is good if the intent is right. That is trying to prevent money laundering, ICO frauds, and other crimes.
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?
of course I agree with that when there is money laundering certainly suffered huge losses not only the government but also the people, as long as the regulation that save the people sata agree but when the government limits its community to follow the crypto I think it's bad news, the government when the limit means the government is not open to economic and technological developments, may be useful
In the future some altcoin or ICO project that will be covered by laws and some ICO would be about security and protection assets
.... but we are expecting also ICO that will continue to grow independently and choose to stay decentralize...
.... but we are expecting also ICO that will continue to grow independently and choose to stay decentralize...
Bad. The official justifications seem Ok and good, but on the practice it's only useful to get more money from the common investor to the government's pockets through the taxes. With or without regulations it's possible to track and find terrorists and any other kind of criminals, it's just an excuse to turn regulations more confortable and acceptable for everyone.
Taxes is the main concern of our government and of course they will not let their people to earn more money without paying it so I think its really depend on one government. If they make a decision about thing technology, usually normal people can't do anything about it so if the government bans cryptocurrency in your place, for sure you will be broke. For me good regulations with cryptocurrency is ok for me, it may have a good or bad effect but hopefully its more on the good side. Indeed there isn't much common citizens can do when a government makes a final decision. But the total passivity and acceptance towards situations like that only give rise to more abuses in the future. A people who accept everything and anything their government impose to them is a weak people.
Once the government has intervened in electronic money, it is never good, they always try to tax and put some regulation into the market. So I do not much care when the government intervenes in the crypto.
I think government regulations for Bitcoin have two sides. It depends on the perception and the correct understanding of this electronic currency. If they are to create a playground with many favorable conditions for Bitcoin to develop legally, then no problem. But to limit it to being more controlled, it's not good.
Once the government has intervened in electronic money, it is never good, they always try to tax and put some regulation into the market. So I do not much care when the government intervenes in the crypto.
I am thinking that those regulations can be both positive and negative and it depends on the attitude of government towards cryptocurrencies.
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 is a good thing as long as there is no taxes involved, i agree with transparency and clean money. 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?
If government is only concerned about the illegal use of cryptocurrency and the security of the investments I think it is a good idea. Investors dont have to be worried of scammers and everyone will experience the fair and square thing specially in a forum like this in which people were given a chance to earn bitcoin and other cryptos. But if the government has a hidden agenda about this of course it is bad. What if they only want to track and study our transactions and later on if they find out that we are earning good enough they will ask us to pay tax?
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?
Well, in my point of view, there is a Good and Bad about this regulation. Good thing is if they register ICO projects to the government we can avoid using cryptocurrency in illegal activities but we can not say that we are hundred percent secured about that and if ICO project will going through the government for sure they will place taxes in every transactions. and the Bad thing is as I said we can not be sure if we are totally secured about that and bitcoin is decentralized the government can not control it. But I do not know if the goverment can control the project team of the ICO projects.
There is nothing ideal since everything has its advantages and disadvantages. Currently, I expect that the regulation serves cryptocurrencies more as follows:
-1 Remove lousy reputation for these currencies: cryptos have associated with dark activities such as prostitution and the sale of drugs, regulation will reduce these activities.
-2 Reducing scam: A large part of cryptos can be traced, If laws put in place, fraud will cut.
-3 Easy to get coin: There will be reliable trading platforms and other things.
The disadvantages are mainly lack of decentralization, which is the main reason for the use of these currencies.
-1 Remove lousy reputation for these currencies: cryptos have associated with dark activities such as prostitution and the sale of drugs, regulation will reduce these activities.
-2 Reducing scam: A large part of cryptos can be traced, If laws put in place, fraud will cut.
-3 Easy to get coin: There will be reliable trading platforms and other things.
The disadvantages are mainly lack of decentralization, which is the main reason for the use of these currencies.
It can be good or bad that governments regulate on cryptocurrency. I can not say that there is a definite distinction in this matter. Government regulation can be good. It means , crypto is accepted by legal authorities. On the other hand, it can be bad. It means that government regulation mean more transaction, more intermediaries and more fees and taxes.
I think it's always good to have regulations in place to protect both the investors and the people accepting the investments. These also gives us comfort that whatever we are investing on is legit and safe that we won't just wake up one day and find out that people ran away with our money. I just hope that the regulations are pro people
Jump to: