Topic: how governments can regulate digital currencies? - page 5. (Read 2271 times)
After nearly a decade since its invention, Blockchain has not yet reached to its full potential. Billions of dollars of investments are made every day, but none of the great potentials come to reality, despite only serving Bitcoin for its payment system and allows illegal payments to occur in the Dark Web. The government has started to underestimate the value of Bitcoin and thinks that regulation is the best way to solve its issue.
the government can only provide digital crypto regulation without being able to take further steps. maybe the regulation is based on the law in each country so it can't regulate overall from bitcoin.
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 don't think regulating digital currencies are so easy although the governments would want to regulate these crypto currencies and transactions.
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 ?
No. That's the whole point.
People own and control their money.
Nobody cares what each government wants, they all want different things in different era's.
People want to own and control their money though...that won't change....it's a pretty simple concept.
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 are going to try it that's for sure but it's going to be an incredible challenge, there are many people that are going to use cryptocurrencies and are going to comply with whatever the government orders them to do so that is a great advantage for them, but the ones that are holding the most bitcoin are going to be the most reluctant to comply and unless they know their identities is going to be impossible to force them to do it. 
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 ?
As you can see the government has found many ways to be able to control Cryptocurrency but this is not possible, so the government has issued the ban. I do not think there is anything that can help the government intervene and control Cryptocurrency.
Government can regulate only to the known exchanges, as they are the only exchanges which have started to use KYC and they are having track of all transactions made by their respective users. so who ever is trading in their local exchanges through deposit of fiat currency and trading crypto currency, will be possible to regulate. Other exchanges which are running only cryptocurrency coins and not supporting fiat currency
If regulations are implemented now it is very late because all exchange systems have been implemented with decentralization that can be accessed by anyone. the government can only manage through the creation of its own digital currency not bitcoin
at least the government has the right to regulate each transaction activity through their local exchange first
today I read the news that the SEC had begun to require all exchangers to become centers with legitimate company ownership. for example etherdelta has been suppressed like that or will get harsh sanctions. If there is a strong intention, the regulation will start from the smallest and the most sustainable.
If regulations are implemented now it is very late because all exchange systems have been implemented with decentralization that can be accessed by anyone. the government can only manage through the creation of its own digital currency not bitcoin
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
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The government can accept crypto as a legal tender, just like what Japan did.
but what we have to expect is that if the government wants to regulate the digital currency it must first accept or legalize it, because with the government already legalizing digital currency, the government can regulate it like the government in Japan 
the 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
It will be very difficult if the government wants to regulate bitcoin, tracking and tracking names and wallets takes a long time, besides that Indigo which is fluctuating and difficult to analyze is also something that cannot be managed.
They can always control Centralized Currencies but they can only push KYC and deploy financial surveillance to decentralized currencies as Bitcoin.
Does the governments needs to regulate digital currencies? or should it be free market system without control probably best solution would be taking tax from it by that way it would be win and win
As far as I'm concerned, it is impossible for government to regulate digital currencies because cryptocurrency are decentralized and can not be controlled. The govenrment only can regulate cryptocurrency if cryptocurrency are centralized.
govt can prepare guidelines so that crypto investors can follow the guidelines and trade as per the rules
Local exchanges are the best way to control or regulate cryptocurrency. Thus, regulating it would be easy by implementing KYC before involving in exchanging fiat to crypto. ICO's could also be regulated by the registering their ICO project including the team for when they will scam the their investors then they will be put to jailed. 
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 government of each country has no capability to regulate bitcoin or digital currencies, unless if one of the coins is centralize.
Because of decentralization that's the common reason why most of the government don't want to accept bitcoin and other digital currency.
but if one of the exchange company has been register under the agency of the government that exchange was being categorize in centralization or regulated business company, that's why they required KYC for their user clients.
if in my opinion it is very difficult for the government to regulate digital currency movements. because there are so many Wallet that don't have an official site (only using e-mail without a copy). but in the future there will certainly be a way out to regulate cryiptocurrency
it is going to be impossible for the government to regulate digital cryptocurrencies due to it decentralized nature, the only way to do so is to centralized cryptocurrency and that is impossible, my advice is that government should legalize crypto, at least when it start operating in the limelight, the government can have a close look into it's operations and transactions.
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