Topic: how governments can regulate digital currencies? - page 2. (Read 2200 times)
they can only control centralized currencies, not P2P currency as Bitcoin.
Paying taxes according to law may be a trend in the regulation of cryptocurrencies!
The main purpose of government supervision is to collect taxes, and taxation according to law itself will become a key indicator of the value recognition of cryptocurrencies.
The government will obviously get tax revenues if it regulates digital currencies. On the other hand, clearly the government recognizes the existence of certain digital currencies that can be used in their country, perhaps digital currencies that cannot meet the criteria of the country will be banned. Without regulation the government will not receive income from digital currencies. The main purpose of government supervision is to collect taxes, and taxation according to law itself will become a key indicator of the value recognition of cryptocurrencies.
Decentralization is possible up to some extent. For small players yes, but I doubt there's a fine way to remain anonymous if you have a huge stack. Regulation is required to avoid fraud, but really I don't think that the coverage from the government will eventually lead to good things.
I think there is many ways that government can do to regulate bitcoin because they have a full power in everything in their country. But I think they can regulate bitcoin well if they make bitcoin in a legal stage. Because I know that many opportunies will open when the time that bitcoin recognized as a legal currency. When it's happen the use of bitcoin will be stretch and widen so many investors will come and invest and all of us wilk be benifited. And I think when government start to make somr regulation and progress a big opportunities for the traders will open also because I think this will be the most have benefits when government doing something good actions about bitcoin.
I don't think so. Eventhough the government has a lot of power to regulate crypto but it is really hard for them to do it because of crypto's decentralization.
Directly managing crypto assets, it seems that it cannot be done by any government. Because of the nature of bitcoin which is decentralized. What is very possible is to arrange through exchange. By applying KYC / AML
It is clearly say to all the government if monitoring hardly they can regulated of cryptocurrencies. The best way for the government is to allow users to disclose their crypto transactions and they have the option to monitor it through the domestic crypto exchanges (with KYC). Even though some governments are trying to find the way to track the crypto transactions and ownership of it but I doubt, how full proof it is going to be in the long run.
Some level of regulation is definitely possible especially since many will like to convert their cryptocurrencies to fiat and for that you will need to identify who you are and where you got those coins but there is going to be a minority of users that are going to refuse and the government is going to be very interested in them but it is going to be impossible for them to identify them.
There is a difference between government entering the crypto space with regulations or them interrupting and banning crypto transactions. The industry needs some regulations and governments' involvement in order to become widely adopted. The governments should make conferences for blockchain developers and discuss the best ways to cooperate.
way the government regulates and uses bitcoin is the call of the minister of finance and information technology to unite laws or rules to be created and sanctioned by the president
I think there is many ways that government can do to regulate bitcoin because they have a full power in everything in their country. But I think they can regulate bitcoin well if they make bitcoin in a legal stage. Because I know that many opportunies will open when the time that bitcoin recognized as a legal currency. When it's happen the use of bitcoin will be stretch and widen so many investors will come and invest and all of us wilk be benifited. And I think when government start to make somr regulation and progress a big opportunities for the traders will open also because I think this will be the most have benefits when government doing something good actions about bitcoin.
Interesting question. But keep in mind they are government which means they have access to almost everything, even great people, hackers, it, computer geniuses etc. That is why I believe they could hire very smart people to help them regulate cryptos, or maybe they are already doing it, they are only waiting to apply it officially, who knows? Never underestimate the government.
I agree on you, the government had probably watching us now and planning how to catch us in our cryptocurrency transactions. This is also the reason that we need to pass a KYC on those reputable exchanges as those government can use our data if they need it. Anyway, if the government will impose a taxes on our crypto earnings then it's better to comply than fight against them. Indeed our government here is neutral on cryptocurrency as we are free to transact cryptocurrency.
Paying taxes according to law may be a trend in the regulation of cryptocurrencies!
The main purpose of government supervision is to collect taxes, and taxation according to law itself will become a key indicator of the value recognition of cryptocurrencies.
The main purpose of government supervision is to collect taxes, and taxation according to law itself will become a key indicator of the value recognition of cryptocurrencies.
yes, of course, because the government does not want to lose anything, especially in relation to money. surely you will think to mitigate the risks that exist. therefore, it is only natural that the government wants to control what is in the component of the country.
Sources of state income, among others, taxes, therefore the government will make every effort to withdraw taxes from cryptocurrency. One of the doors to being able to withdraw taxes is when you withdraw from cryptocurrency to fiat money. In addition, the government can also monitor the circulation of bitcoin and who are its users. For transactions on the internet, the government cannot control, because what happens is peer to peer transactions.
The regulation can takes place when investors tends to convert there token to a fiat or when individual want to buy into a token, since bank always monitor all transaction, government will need to synchronize this with cryptocurrency exchange, developer, central bank, They migth not be able to regulate digital currencies without the cooperation of all the stake holders involve.
The regulations are clearly impossible to touch open source and decentralized projects. Centralized exchanges in the other hand are easy to regulate because of KYC/AML.
Except that is exactly where the regulations are going to be put at and things like local Bitcoin where you can buy and sell in person will be targeted for shutdowns. Which isn't too bad, just pay your taxes and don't get robbed.Yeah,paying taxes must be the our way for the government to let us do what we need to do here,because all the governments are only asking for a piece of cake.
But regulating cryptocurrency is far from reality because all of them knew that it is impossible doing this as decentralization and anonymity makes effect on this community so i guess its about how the both regulations and irregularities will bind to make things possible
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 ?
maybe the government controls electronic finance can be from what we spend on our daily needs and also see from a number of existing exchange transactions, maybe from there they control this electronic money, this in my opinion maybe others can agree with me. or maybe not, I return to the perception of each - each. That is all and thank you 
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 ?
The only way I know the government can regulate cryptocurrency is taxing it. Because in countries like China and Russia where cryptocurrency is banned, there are still a huge number of people who manages to use cryptocurrency. Meaning, they can't really have a full control over it.
on the basis of decentralized cryptocurrency so that the government cannot fully regulate or control its use, it is very difficult for the government to regulate crypto, in a country there must be many people who use crypto, how does the government regulate so many crypto users? I think the government will experience difficulties especially there are so many wallets that don't have complete identities
You are right, the cryptocurrency is decentralized so that the government cannot fully control, except for binding regulations related to distribution and use permits in the country. If the government wants to have coins that they can control fully then they have to make it themselves, right?Yes, but then the very essence of government control and it being decentralized would result in the currency probably not being used to it's fullest extent.
Lets face it. The target demographic for cryptocurrency users aren't exactly fond of government control.
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 ?
A very good way in government getting to regulate the digital currencies is for them to get fully involved! When they do, they get to know how things are done. Those with offline wallets can be charged via transactions made whenever they do come online to make any transaction.
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 ?
They can only regulate cryptocurrency when you exchange it to fiat currency or you buy cryptocurrency using fiat. They regulate those exchangers and required KYC to those people who use the exchangers. Jump to: