Topic: how governments can regulate digital currencies? - page 11. (Read 2207 times)
Eventually they will have to connect to the internet if they will want to cash out their profit unless they are willing to do a p2p physical transaction. Most of the exchanges now requires you to fill the "Know Your Customer" form. This is done to keep track of your investments. Not only in exchanges, if you want to buy bitcoins directly online you will be required to submit your identification and other personal information. If such actions are not taken by the service providers, the government will not let them operate their services. That is different laws are being placed by the government in an effort to bring full regulation of crypto currencies..
I think the government can adjust the digital money. The government will introduce strict regulations for the development of digital money. Some governments only allow quality coins to operate....
In my own opinion Bitcoin doesnt need to be regulated by the government it just needs to be accepted by the government and they will be forced by the community in the future and theres nothing government can do when the public already speaks.
Though it’s easy to see why governments would want to regulate the movement of digital currencies, the reality of doing so is much harder. A lot of wallets have no identification to them and rest on a server in a third party country. In the case of offline wallets in devices such as the Ledger Nano, they’re not connected to any network.so is it possible to regulate ?
I think this can still be overcome, considering that all the transactions in Crypto and Blockchain itself can still be tracked. this regulation itself is not about how the wallet will be, but is crypto really feasible for the public
Cryptocurrencies themselves, they can adjust not can, because they have no single center. They will be able to regulate only their exchange for Fiat
I think that digital money cannot be regulated by the government, because the circulation of digital money is not through a running bank. so the bank is having a hard time participating in digital currency.
What digital currency are you talking about?? Are you already aware that cryptocurrency and digital currency is two different kinds of virtual currency.
I assume youre talking about cryptocurrency, since you mentioned that " the circulation didnt run through banks"
While digital currencies already has a regulation before it is released publicly, since it will still go through government approval.
Most of us have submitted regulations with the KYC that we have made and although sometimes it feels that KYC goes beyond what is really needed, it feels like we have no real choice. Because it was mandated by the government against the trading floors if they wanted to continue to operate. They can use the KYC and AML rules against a local exchange before the digital currency is converted into that country's currency, imposing taxes on every transaction on a local exchange. is what happened in my country today. In order to adjust the digital currency in relation to electronic money, the government must and must be the majority owner of all electronic money. They can determine the market price of a coin at a specific time and time. Crypto is global and decentralized, but its users do not. In addition, to exchange, this means that if you are running a exchange, or an interface for decentralized exchange, you will need to apply the law, or move out of that country. As demand for electronic money increases, global managers are divided in ways to keep up. Any regulatory notice appears to have pushed bitcoins and other electronic currencies into 2018.
If governments could effectively stop a peer to peer network, they would’ve shut down the illegal practices of torrent websites over a decade ago. Even the success of the hydra-like torrent sites isn’t a perfect analogy for bitcoin, though, because cryptocurreny’s legal status is far easy to debate.Beyond the difficulties presented by the decentralization of bitcoin itself, governments and regulatory bodies have shown they lack understanding of technological topics, and bitcoin is one of the most complex. As governments struggle to ban technologies like Tor and encryption, it seems impossible to imagine them gaining the ability to truly impact bitcoin – and its alt-coin contemporaries – in a way that could impede its progress.
Cryptocurrencies themselves, they can adjust not can, because they have no single center. They will be able to regulate only their exchange for Fiat
I think that digital money cannot be regulated by the government, because the circulation of digital money is not through a running bank. so the bank is having a hard time participating in digital currency.
Cryptocurrencies themselves, they can adjust not can, because they have no single center. They will be able to regulate only their exchange for Fiat
Some governments only allow quality co-operation. Making such changes can simply destroy the whole concept of electronic money. Most of us have submitted regulations to the KYC that we have implemented. And although sometimes it feels that KYC goes beyond what is really needed, it feels like we have no real choice because it was mandated by the government against the trading floors if they want to continue to operate.
Regulations on cryptocurrency is not possible especially decentralized one like bitcoin,and other altcoins,government cant..
It IS possible. The weakest point of cryptocurrencies is the need for fiat money to buy it. Since you can regulate the flow of fiat money you can also regulate the exchanges and with them any cryptocurrency that you want. It doesn't matter that it's decentralized. If you can't buy it it's dead. Mining isn't enough to sustain growth.
Though it’s easy to see why governments would want to regulate the movement of digital currencies, the reality of doing so is much harder. A lot of wallets have no identification to them and rest on a server in a third party country. In the case of offline wallets in devices such as the Ledger Nano, they’re not connected to any network.so is it possible to regulate ?
I think that could happen, the government can work with existing exchanges. from there the government can trace crypto asset owners. 
Though it’s easy to see why governments would want to regulate the movement of digital currencies, the reality of doing so is much harder. A lot of wallets have no identification to them and rest on a server in a third party country. In the case of offline wallets in devices such as the Ledger Nano, they’re not connected to any network.so is it possible to regulate ?
I think that's almost impossible, because the decentralization of cryptocurrency that make people who owns cryptocurrency are undetectable.
The ease of wallet creation will make the regulation hard to apply.
Regulations on cryptocurrency is not possible especially decentralized one like bitcoin,and other altcoins,government cant..
I think the government can adjust the digital money. The government will introduce strict regulations for the development of digital money. Some governments only allow quality coins to operate.
Hopefully it can, adjust the development of the times that are currently changing every time. especially receiving digital currencies that have been circulating throughout the world
As demand for cryptocurrency grows, global regulators are divided on how to keep up. Most digital currencies are not backed by any central government, meaning each country has different standards. Every seemingly small regulation announcement has driven the price of bitcoin and other cryptocurrencies in 2018. I think that governments never will be able to fully regulate the digital currencies.
Though it’s easy to see why governments would want to regulate the movement of digital currencies, the reality of doing so is much harder. A lot of wallets have no identification to them and rest on a server in a third party country. In the case of offline wallets in devices such as the Ledger Nano, they’re not connected to any network.so is it possible to regulate ?
i think its almost impossible for the government to regulate digital currency because the initial goal of digital currency is to make another financial system that is simply free and without needing the third party. So, i think it will be impossible for the government to regulate it. 
In order to regulate digital currencies in relations to cryptocurrencies, the government must and should be the majority holders of all cryptocurrencies. With this, they can control the amount of a particular coin circulating. They can determine the market price of the coin at a particular time and period. IF the government can achieve this, they can regulate the crypto market and world.
you don't regulate things by having a stake in them! it is like saying for the government to regulate companies like Apple, Microsoft, Google, Dell,... they have to own majority of the shares of these companies to control them! which is obviously not the case.
in a society when the law maker makes a new law the law enforcement enforces it. they don't need stakes to enforce it. and cryptocurrencies and their regulation doesn't have to be any different than regulating a company.
wow thank you all for grate responses i have leaned lot from this.i thank all for helpful responses.
Crypto is global and decentralised, but people who use it aren't. Regulating crypto means that you write laws on how people have to pay taxes on it, and what they need to do if they want to create it, trade it, and advertise it.
While there are well known examples
of crypto that were started anonymously, nowadays most of the projects have founders known by name, and these founders will have to stay in line with the law, or move to a country that doesn't have such laws. Also, for exchanges, this means that if you're running an exchange, or an interface to a decentralised exchange, you will need to apply the laws, or move away from that country.
While there are well known examples
of crypto that were started anonymously, nowadays most of the projects have founders known by name, and these founders will have to stay in line with the law, or move to a country that doesn't have such laws. Also, for exchanges, this means that if you're running an exchange, or an interface to a decentralised exchange, you will need to apply the laws, or move away from that country. Jump to: