More Regulation Incoming! - page 7. | Bitcointalksearch.org

maikrothaman

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Quote from: Blawpaw on December 17, 2022, 05:38:14 AM

Events like MTGOX and FTX are only damaging the Cryptocurrency Industry

I disagree. It alerts individuals to stay away from central enterprises when making investments. It demonstrates to the public that decentralized coins are robust, in contrast to centralized businesses that promoted ponzi schemes, which failed.

Plaguedeath

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Mt Gox and FTX aren't both company should be blamed, but the whole centralized exchanges should be blamed especially if they're included in this list [1]

It's not surprising regulation will keep coming because hacker is always clever and better rather than the current security, this is why everyone should avoid to use centralized exchange. If people are move all from centralized exchange to decentralized exchange, there's will no regulation coming due to security excuse, they only want to control everyone activity.

[1] https://bitcointalksearch.org/topic/hacked-exchanges-since-2011-5090869

BlackHatCoiner

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Quote from: Blawpaw on December 17, 2022, 05:38:14 AM

[...]

The bad thing with huge exchange bankruptcies (like FTX and MtGox) is that they create ambience for regulations, and usually regulations do more harm than good when it comes to the free market.

Quote from: Ayers on December 17, 2022, 05:52:25 AM

I believe most people enter the market because they like the volatility of cryptocurrencies, but once there is regulation, I fear that will disappear along with our privacy.

Indeed. And the winners are mostly large corporations. Now, I don't know about you, but I don't like volatility. However, I neither believe more regulation will calm things down with no tradeoffs, though.

avikz

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Quote from: Blawpaw on December 17, 2022, 05:38:14 AM

Events like MTGOX and FTX are only damaging the Cryptocurrency Industry. Unfortunately, this sort of event is nothing new to the industry as every day we see crypto businesses going bankrupt and new scams coming in.
The recent FTX event motivated the US United States Financial Stability Oversight Council or FSOC is now recommending legislators study new regulations for cryptos.

So, we will see new regulations coming in through the following months. Usually, regulation comes at a price and is more damaging than the other way around. I just hope that it isn't regulation that could stifle innovation and slow down the industry to a freezing point.

Regulations are inevitable, regardless of whether you like it or not! Such incidents like FTX are only making the process faster. It is putting more pressure on regulatory bodies to bring in a framework so that any such future events can be avoided.

I understand a lot of people don't like regulations but if exchanges are centralized and established as a legal entity, they are expected to follow certain regulations. So a more structured regulation will make the centralized businesses more transparent for its users.

dansus021

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Quote from: Ayers on December 17, 2022, 05:52:25 AM

I don't like regulations, not only about privacy, but I fear that regulations will slow down the growth of the market. I believe most people enter the market because they like the volatility of cryptocurrencies, but once there is regulation, I fear that will disappear along with our privacy. Look at the stock market or the forex market, they are regulated, and they become more stable because they are tightly managed. Regulations are inevitable, but we can only hope they won't be too strict with us.

Regulation will good if only hit the Centralized Exchange Market Only so other investor who scared about crypto like scam or fraud can at least breath because they know there is gov at least helping them.

we can take example of my country all legal cex should registered their company called Bappebti but the other negative side that we should talk with them incase want to Listing some coin/token

Gozie51

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Quote from: Ayers on December 17, 2022, 05:52:25 AM

I don't like regulations, not only about privacy, but I fear that regulations will slow down the growth of the market. I believe most people enter the market because they like the volatility of cryptocurrencies, but once there is regulation, I fear that will disappear along with our privacy. Look at the stock market or the forex market, they are regulated, and they become more stable because they are tightly managed. Regulations are inevitable, but we can only hope they won't be too strict with us.

I don't know the kind of regulation that will be done on bitcoin itself because I don't see that coming. Countries can only try that people don't buy bitcoin but how will they know who is buying in decentralised exchange? They can only regulate centralised exchange and ask for KYC on customers and they monitor the exchange and the customer through that but I don't think total regulation like the forex is going to work.

Ayers

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I don't like regulations, not only about privacy, but I fear that regulations will slow down the growth of the market. I believe most people enter the market because they like the volatility of cryptocurrencies, but once there is regulation, I fear that will disappear along with our privacy. Look at the stock market or the forex market, they are regulated, and they become more stable because they are tightly managed. Regulations are inevitable, but we can only hope they won't be too strict with us.

Blawpaw

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Events like MTGOX and FTX are only damaging the Cryptocurrency Industry. Unfortunately, this sort of event is nothing new to the industry as every day we see crypto businesses going bankrupt and new scams coming in.
The recent FTX event motivated the US United States Financial Stability Oversight Council or FSOC is now recommending legislators study new regulations for cryptos.

So, we will see new regulations coming in through the following months. Usually, regulation comes at a price and is more damaging than the other way around. I just hope that it isn't regulation that could stifle innovation and slow down the industry to a freezing point.

Topic: More Regulation Incoming! - page 7. (Read 1843 times)