Topic: More regulation on crypto developers, altcoins and exchanges - page 2. (Read 261 times)

That shouldn't be bad! I think a global framework should be launched instead of country specific rules and regulations for regulating all types of crypto assets and related services.

Every single day multiple short lived cryptocurrencies are popping up in pancakeswap platform and gaining unrealistic amount in pricing before dying. This should stop at any cost. But such legislations should not affect bitcoin largely.

I have never traded with Bisq, but this is what they say:
But, Bisq isn't a company, like zkSNACKs that controls the most used coordinator. The developers can do nothing to stop, censor, control their users in the same way the bitcoin devs can't. They can only introduce malicious code to their next releases, which can be detected and ruin their reputation.

Second, there's no data saved in any server, and even if it was, messages are end-to-end encrypted:

It seems rather censorship-resistant.

Stablecoin issuers do need proper regulation, since they're centralized and can do a big amount of harm (and distortion of the market too).
But will this affect out-of-USA entities? I kinda doubt it. And then the shady ones - no matter how big - will still continue operating. So I fear not much will change.

Bisq is actually not 100% decentralized, there is still a centralized server that coordinates all the communication and also acts as a middle man in each trade and receives the commissions.
Technically if the government puts some pressure on them, they could technically pull the same shenanigan as Wasabi wallet pulled and start censoring certain transactions.

dont be so sure about that.

just because bisq offers a way to communicate to other traders without a central server does not mean you are then free of regulation.

if your BANK see's alot of wire transfers in-out for lots of random people unrelated to you. you will get flagged. there are many flags.
more then X amount per transfer
more then X amount per year

EG if they see totals of say $80k moving in-out of an account you will get treated as a money business. and doing this on a 'personal' account instead of a business account will get the bank to flag and suspend its service with you because you breach the terms and conditions of the personal bank account terms and conditions.
you will then be told to register as a business which then means register as a money service business with the authorities.. no matter what the product/asset/currency it is that is being traded opposite the fiat movements they have flagged

tor/bisq/altnets will not absolve you of the associated fiat wire transfers you do in a trade

in short. they wont catch you due to the inability to monitor/analyse the coin movements. but they will catch you on the fiat movement side.

the only way to solve this would be if there was a 'privacy' stable coin pegged to fiat where people trade crypto to crypto, and not involve real bank account fiat. whereby this 'privacy' stable coin becomes a market pair of the private DEX trading systems
but then . thats for the speculators of day traders. not the people that want actual fiat to actually then spend actual fiat in the real world.

and yea good luck making a privacy stable coin that can be trusted (lack of audit) with the new regulations in place that would require all fiat(sec)/commodity(cftc) backed stable coins to be auditable and verifiable..
and personally. id never like to use a currency that is not auditable. as the whole point of the trust of things like bitcoin is the auditability of the coin to ensure there is no fractional reserving or manipulation of the coin happening at the store of value level

Thanks to Bitcoin as being decentralized currency and Bisq as decentralized exchanges, it will not affected by this kind regulations. You can still use Bitcoin and you can buy/sell using Bisq by running through Tor network, no one can control you.

This is the reason why everyone need to understand decentralization and avoid any centralization at all cost!

This will affect ANYTHING that is centralized or has some traces of centralization. This means it could also affect parts of the bitcoin world. For example a bitcoin mining pool is still centralized and can be regulated (example: MARA pool). Or bitcoin.org website (example: removal of white paper for UK users only).

Obviously other things like stablecoins that are 100% centralized will be 100% affected by this. Same goes with centralized exchanges, centralized payment processors, centralized altcoins like ethereum/bcash/ripple/bnb/all tokens/...

I don't see how they can regulate development though since that is impossible in open source world

this is not about regulating all crypto software developers.. so lets not tin foil hat down that rabbit hole like some have in the past.

instead its about those who create a crypto that is 'stablecoin' backed by a commodity like gold.. whereby it needs to be regulated by the commodities authority(CFTC). instead of other crypto's which are asset based which are regulated by the SEC

anyone issuing an ICO for a commodity backed stable coin needs to register their involvement and how they designed their system to not be manipulated. in short how they intend to store/transport the real backed physical commodity and how to prove audit of that physical store/transport to then peg/associate it to the crypto contracts

also the commodity market is more temporary because at the end of the contract people need to take physical ownership of the actual physical commodity which then writes off the contract(coin/token) which then requires issuing new fresh coins/tokens/contracts to associate with the next season/quarterly/transport vessel of the next allotment of newly created raw material.. something blockchain technology doesnt want to deal with. so its not a  big thing blockchains would get involved in in the first place. its more for the 'smart contract/no-blockchain network types of 'coin'


its not about being a just a crypto developer.,, instead its about being a digital commodity certificate issuer(updated language: crypto commodity issuer)

Bipartisan bill to give CFTC authority over exchanges and stablecoins


I am thinking this will be for altcoins and exchanges and not bitcoin. This will not go beyond cryptocurrency developers, dealers, exchanges and stablecoin providers that are in US but there are several of them there and other countries can follow if this is successfully done.

But I hope this will not affect bitcoin in any way.