Topic: Is regulations good for Crypto currency trading (Read 160 times)
Regulations by government is itself a step towards centralization where permissions would be needed for any type of transactions either by filling KYC or by any other methods. this will create boundaries and barriers in terms of international taxes being levied and checks by these fiscal bodies. This will further reduce the transaction time of transfers for which the blockchain technology is known for. Goverments in each country is influenced by their banking system and the corporates, and these bodies can put extra pressure on the government to increase the regulatory framework. And if these regulations will start in each major countries then the holistic concept of decentralization is jeopardized.
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dont you think that certain degree of regulations are needed to protect the retail investors. On the other hand bringing regulations is altogether hindering the concept of decentralization, what block chain technology emphasizes on.
dont you think that certain degree of regulations are needed to protect the retail investors. On the other hand bringing regulations is altogether hindering the concept of decentralization, what block chain technology emphasizes on.
Certain degree of regulation is now inevitable whether we want it or not. It is difficult to expect something sensible from the Indian government and the status-quoist bureaucracy. These are the license Raj people and I am sure they are busy instituting the various licenses you will need and the bodies to which you have to go for clearances while going into crypto.
The important point is bringing regulation does not hinder Bitcoin's decentralization. There are ways to secure your wallet anonymously even if the government doesn't want you to. Though not many people will dare to do it just for the ideals. Even with regulation and KYC, bitcoin can still remain a worthy piece of value storage and transfer. Its legitimacy is global and it'll find a way as long as eve one country is supporting it. From the looks of it, quite a few countries are positive on it.
Hi guys,
Seeing the RBI's decision and Finance ministers statement that it can lead to money laundering, black money, tax evasion, terrorists funding, Illegal activities and considering many ICO scams and unregulated exchanges an d their brokerages, dont you think that certain degree of regulations are needed to protect the retail investors. On the other hand bringing regulations is altogether hindering the concept of decentralization, what block chain technology emphasizes on.
Seeing the RBI's decision and Finance ministers statement that it can lead to money laundering, black money, tax evasion, terrorists funding, Illegal activities and considering many ICO scams and unregulated exchanges an d their brokerages, dont you think that certain degree of regulations are needed to protect the retail investors. On the other hand bringing regulations is altogether hindering the concept of decentralization, what block chain technology emphasizes on.
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