Topic: Is there any regulatory committee for crypto? (Read 285 times)
I think the regulations on the financial markets help fight or fraudulently isolate and keep everything trustworthy or clean. But in a decentralized environment like a crypto currency, it seems as if it was shot very long. maybe some people decide to opt out, all the anonymity constraints are attacked. The idea may have to be guilty of making a neutral authority, which is recognized by all people around the world. It should also be used for disputes with disputes. Each country has a supervisory authority or oversees its financial markets, so even if they lose a lot of fraud then they have just started a similar one.
In fact the cryptocurency currency market is a decentralized market where there is no control, Networks are independent or not controlled by people. in the crypto currency market may not have any setting committee or anything else. Decentralization only makes the network more stable or faster and cheaper. because the cause becomes very popular.
Yes there must be some an authority to control the whole system. Now a days, so many crimes are done with the transaction of crypto. If these cannot be controlled, it will be a massive problem for the industry.
But no one can control the decentralized market and which has no centralized authority and we even don't know who created the bitcoin.Scammers are everywere so it is not only happening with crypto currency field and the anonimity give the scammers to create scam ICOs but we have to be careful and well knowledgeable about crypto currency is the way can stop us from getting scammed.
Yes there must be some an authority to control the whole system. Now a days, so many crimes are done with the transaction of crypto. If these cannot be controlled, it will be a massive problem for the industry.
I think there are no any regulatory committee for crypto but it is necessary because after implementation of regulatory committee, it can be stop fraud and other illigal activities in this sector.
I think there should be a regulatory committee under the coin launching firm. By implementing this, I believe so many scams can be reduced. What is your thought??
Indeed, the need for ICO regulation is now much important because of the scam and fraud ICO are now rampant in the crpto world. This ICO regulation is now started in the countries that legalize Bitcoin like in the USA in which the need of KYC is now very important requirement for the safety of both the ICO and the participants
I think there should be a regulatory committee under the coin launching firm. By implementing this, I believe so many scams can be reduced. What is your thought??
Indeed, the need for ICO regulation is now much important because of the scam and fraud ICO are now rampant in the crpto world. This ICO regulation is now started in the countries that legalize Bitcoin like in the USA in which the need of KYC is now very important requirement for the safety of both the ICO and the participants
this is a decentralized market and everyone will at least pretend to be decentralized or aim for it. that means even if there were some sort of "regulatory committee" then majority of new projects won't participate in it and continue working without it. that means the scams will continue to exist!
the problem with scams existing has never been about regulations,... it has always been because of people's greed. they all want to make a lot of money in a short time and that helps these scammers create false promises and illusions to lure them in and take their money. for example if people stopped giving their money to ICOs then the market would have been 10 times cleaner.
This is the reality where peoples greed is one of the reasons why Scams do continue to exist after all these years on crypto. It will continue the cycle yet people or investors do continue to feed them up.Even a regulatory comitted would turn out to be pointless or useless yet it cant really able to completely stop such frauds where as said they wont really participate on it.the problem with scams existing has never been about regulations,... it has always been because of people's greed. they all want to make a lot of money in a short time and that helps these scammers create false promises and illusions to lure them in and take their money. for example if people stopped giving their money to ICOs then the market would have been 10 times cleaner.
The important thing on here is that we should really stop on investing into shady projects.
It's that same pattern all over again:
People cry/fight for less control but want the government to still protect them from their own greed/stupidity. Reminds me of that Family Guy Episode, where they wanted an uncontrolled city, just to reimplement taxes and the government, I'll post the Episode as soon as i found it.
Bitlicense is also a wonderful example, there are like 5 licenced companies within 4+ years
I think instead of regulations, there should be more audits (maybe paid or whatever) and reviews in order to verify legit projects (kind of swarm intelligence).
People cry/fight for less control but want the government to still protect them from their own greed/stupidity. Reminds me of that Family Guy Episode, where they wanted an uncontrolled city, just to reimplement taxes and the government, I'll post the Episode as soon as i found it.
Bitlicense is also a wonderful example, there are like 5 licenced companies within 4+ years
I think instead of regulations, there should be more audits (maybe paid or whatever) and reviews in order to verify legit projects (kind of swarm intelligence).
Actually the market of crypto currency is a decentralized market where there is no control. The network is independent and not controlled by others. Crypto currency market does not have any regulatory committee or others. This decentralization makes the network faster and less costly. That’s why it is becoming popular.
Yes, I agree with you. There rate of these scammy incidents have increased a lot recently. If there was a regulatory committee, the price would have lessened a lot.
I think there should be a regulatory committee under the coin launching firm. By implementing this, I believe so many scams can be reduced. What is your thought??
But who will arrange these committee because crypto currencies are decentralized which means no one is controlling them so no one will make committee here.But many governments are trying to regulate the crypto currency usages which may save from scam ICOs but we need to have the knowledge about crypto currencies before investing on ICOs which is the only way can save us from scam 100%.
My thought is with you. I agree with it. It will be a great initiative if a regulatory commitee is formed. Scamming is increasing day by day. So to prevent this this type of steps has become mandatory to take.
How lame question! How can crypto have a regulatory committee while it is a decentralized crypto! No it doesn't have any such committee.
I agree with most comments that an oversight committee would erode the real objectives of this technology because it will introduce a central body which can limit innovation. However, it would be interesting to see how ICOs will overcome fraud and scams
I think there should be a regulatory committee under the coin launching firm. By implementing this, I believe so many scams can be reduced. What is your thought??
How come a regulatory committee "under the coin launching firm" would be beneficial? If the regulatory authority works under a coin launching firm, don't you think they would be receiving unwarranted support from the regulatory body? That would give that coin launching firm an extra edge over the competition. So that is not a feasible idea.
Cryptos are decentralized in nature and any attempt of forced centralization would only harm the cryptos in general without bringing any value to it. Also cryptos are truly border-less and international. So any local regulatory body would not be able to bring any impact either. So cryptos are best at its current status, without any centralized regulatory authority.
Crypto currency is a decentralized currency. As a result there's no commitee has been formed yet. But,a commitee is much needed. It will keep us away from fraudulance activities. Besides, people will get more interest in it as they will be able to built trust on it.
the problem with scams existing has never been about regulations,... it has always been because of people's greed. they all want to make a lot of money in a short time and that helps these scammers create false promises and illusions to lure them in and take their money. for example if people stopped giving their money to ICOs then the market would have been 10 times cleaner.
for example if people stopped giving their money to ICOs then the market would have been 10 times cleaner.
You have a very valid and nice reason here. I think investors should wait for tokens to be listed in cmc before buying after observing them for months. I have some coins that have not been listed for more than 7months.Ucoin is part of them, they are scammers & to withdraw your money, you will be charged 0.001btc.
Yes, it's a great idea that could rescue the situation.
A regulations for scams is good idea but just for scams and frauds only. If the law and regulation affects the whole crypto world itself then it would become centralized and maybe a lot of people started to not get interested about it. A special force which punishes scams can reduce it. Ill go supporting it.
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