regulating cryptocurrency | Bitcointalksearch.org

MoonOfLife

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Quote from: JohnBitCo on October 01, 2022, 04:22:37 AM

Quote from: Robert518 on September 22, 2022, 04:20:06 AM

Why are many governments not regulating cryptocurrency?

Governments want to control cryptocurrencies and they do not understand how they can control the bitcoins and crypto even if they regulate it.

Also, there is a lack of knowledge and understanding when it comes to bitcoin and governments are afraid to regulate it.

They are the heads and managers of a country, I think they know it all, they don't say they don't know. Many governments have yet to take any action on crypto simply because they are observing, need more time to evaluate it and then they will act once they have made a decision. Believe me, no government ignores cryptocurrency, it is a huge source of tax revenue for them.

smartaction

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Quote from: ilovealtcoins on October 01, 2022, 12:42:26 AM

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Quote from: Robert518 on September 22, 2022, 04:20:06 AM

Why are many governments not regulating cryptocurrency?

Mang government still banned cryptocurrency and not regulating it. The reason for this is that they think that if cryptocurrency is legalized, activities like money laundering will increase in the country and dishonest people of the country will be able to easily do bad things like money laundering outside the country without the eyes of the government. Therefore, many countries' governments and countries' central banks are still afraid of Bitcoin. that's why many governments not regulating cryptocurrency

Whether banned or not, those social evils will never end and cannot be prevented, criminals will always find new ways to do it. Most governments are drafting regulations for cryptocurrencies instead of outright banning them because they realize it is impossible to stop its development. The enacted regulations will also benefit the government with a large source of taxes and thanks to these regulations, they will have tighter control over their citizens and their finances. For investors like us, this is a tight squeeze on privacy but this will help the market grow as scams get better under control.

It is the privacy and taxes concerns that make people against regulating crypto but if we see the other side and its purpose, it is somehow we can appreciate the idea of bringing on it to the crypto world. What I am just worried about is how the implementations are imposed, this gonna be a problem for might this is start abusing holders and investors which leads to higher taxes. I hope not but can't really expect good from this, especially in corrupt governments.

I'm not really a problem if the government wants to regulate crypto, what worries me is that for a country with a very high level of corruption,
there will definitely be abuse of power. Moreover, I live in a country where the government is very corrupt, so I actually object to being taxed
when making crypto transactions. But I'm just an ordinary citizen and don't want to go against government regulations regarding crypto.
So for now I can only be grateful that at least my country is not a country that completely prohibits the use of crypto. So even though I have to
pay taxes and go through KYC procedures to be able to do crypto transactions, I'm starting to accept it now. Because we really should not break
the law and follow the rules of the country where we live.

Here in my country bitcoin is illegal and government still do not ask tax for crypto. but huge people are use & trade cryptocurrency in my country and all are use crypto without government VAT / TAXES . But now the government has started discussing cryptocurrency. And it is heard that the government is going to legalize Bitcoin in our country in the coming fiscal year. then government aslo ask Taxes from us

That will happen sooner or later in all countries, now they won't need to ban it but will instead issue regulation for cryptocurrencies. Regulation will be more beneficial for the government because they will get huge tax revenue from investors as well as easily control us through centralized exchanges. Perhaps they realize that banning bitcoin won't stop the growth of cryptocurrencies either.

It is true that if cryptocurrency is legalized in the country, the government will get a lot of tax from it, but unscrupulous traders and unscrupulous people in the country can easily launder money through bitcoins outside the country, and the government will never trace it. So the government is thinking it very differently that's why it's so late to legalize cryptocurrency in our country

ringgo96

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Because they are not yet sure that the crypto world can build the country's economy for the future, but we can see countries that have governments in building their countries for the future have now legalized the crypto world and there are also those who have made legitimate currencies in making any transactions, but for now many countries have learned about the performance of the crypto world and they have considered being able to use it in their country in a way legitimate and can be well received by all circles of society.

ilovealtcoins

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Quote from: smartaction on September 30, 2022, 10:09:28 PM

Quote from: BuNga_cute on September 30, 2022, 04:58:25 PM

Quote from: Natalim on September 28, 2022, 05:12:22 PM

Quote from: Tony116 on September 28, 2022, 05:01:36 PM

Quote from: ?? on ??

Quote from: Robert518 on September 22, 2022, 04:20:06 AM

Why are many governments not regulating cryptocurrency?

Mang government still banned cryptocurrency and not regulating it. The reason for this is that they think that if cryptocurrency is legalized, activities like money laundering will increase in the country and dishonest people of the country will be able to easily do bad things like money laundering outside the country without the eyes of the government. Therefore, many countries' governments and countries' central banks are still afraid of Bitcoin. that's why many governments not regulating cryptocurrency

Whether banned or not, those social evils will never end and cannot be prevented, criminals will always find new ways to do it. Most governments are drafting regulations for cryptocurrencies instead of outright banning them because they realize it is impossible to stop its development. The enacted regulations will also benefit the government with a large source of taxes and thanks to these regulations, they will have tighter control over their citizens and their finances. For investors like us, this is a tight squeeze on privacy but this will help the market grow as scams get better under control.

It is the privacy and taxes concerns that make people against regulating crypto but if we see the other side and its purpose, it is somehow we can appreciate the idea of bringing on it to the crypto world. What I am just worried about is how the implementations are imposed, this gonna be a problem for might this is start abusing holders and investors which leads to higher taxes. I hope not but can't really expect good from this, especially in corrupt governments.

I'm not really a problem if the government wants to regulate crypto, what worries me is that for a country with a very high level of corruption,
there will definitely be abuse of power. Moreover, I live in a country where the government is very corrupt, so I actually object to being taxed
when making crypto transactions. But I'm just an ordinary citizen and don't want to go against government regulations regarding crypto.
So for now I can only be grateful that at least my country is not a country that completely prohibits the use of crypto. So even though I have to
pay taxes and go through KYC procedures to be able to do crypto transactions, I'm starting to accept it now. Because we really should not break
the law and follow the rules of the country where we live.

Here in my country bitcoin is illegal and government still do not ask tax for crypto. but huge people are use & trade cryptocurrency in my country and all are use crypto without government VAT / TAXES . But now the government has started discussing cryptocurrency. And it is heard that the government is going to legalize Bitcoin in our country in the coming fiscal year. then government aslo ask Taxes from us

That will happen sooner or later in all countries, now they won't need to ban it but will instead issue regulation for cryptocurrencies. Regulation will be more beneficial for the government because they will get huge tax revenue from investors as well as easily control us through centralized exchanges. Perhaps they realize that banning bitcoin won't stop the growth of cryptocurrencies either.

smartaction

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Quote from: BuNga_cute on September 30, 2022, 04:58:25 PM

Quote from: Natalim on September 28, 2022, 05:12:22 PM

Quote from: Tony116 on September 28, 2022, 05:01:36 PM

Quote from: ?? on ??

Quote from: Robert518 on September 22, 2022, 04:20:06 AM

Why are many governments not regulating cryptocurrency?

Mang government still banned cryptocurrency and not regulating it. The reason for this is that they think that if cryptocurrency is legalized, activities like money laundering will increase in the country and dishonest people of the country will be able to easily do bad things like money laundering outside the country without the eyes of the government. Therefore, many countries' governments and countries' central banks are still afraid of Bitcoin. that's why many governments not regulating cryptocurrency

Whether banned or not, those social evils will never end and cannot be prevented, criminals will always find new ways to do it. Most governments are drafting regulations for cryptocurrencies instead of outright banning them because they realize it is impossible to stop its development. The enacted regulations will also benefit the government with a large source of taxes and thanks to these regulations, they will have tighter control over their citizens and their finances. For investors like us, this is a tight squeeze on privacy but this will help the market grow as scams get better under control.

It is the privacy and taxes concerns that make people against regulating crypto but if we see the other side and its purpose, it is somehow we can appreciate the idea of bringing on it to the crypto world. What I am just worried about is how the implementations are imposed, this gonna be a problem for might this is start abusing holders and investors which leads to higher taxes. I hope not but can't really expect good from this, especially in corrupt governments.

I'm not really a problem if the government wants to regulate crypto, what worries me is that for a country with a very high level of corruption,
there will definitely be abuse of power. Moreover, I live in a country where the government is very corrupt, so I actually object to being taxed
when making crypto transactions. But I'm just an ordinary citizen and don't want to go against government regulations regarding crypto.
So for now I can only be grateful that at least my country is not a country that completely prohibits the use of crypto. So even though I have to
pay taxes and go through KYC procedures to be able to do crypto transactions, I'm starting to accept it now. Because we really should not break
the law and follow the rules of the country where we live.

Here in my country bitcoin is illegal and government still do not ask tax for crypto. but huge people are use & trade cryptocurrency in my country and all are use crypto without government VAT / TAXES . But now the government has started discussing cryptocurrency. And it is heard that the government is going to legalize Bitcoin in our country in the coming fiscal year. then government aslo ask Taxes from us

radjie

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Quote from: BRINIRHA on October 01, 2022, 02:54:32 AM

but now many countries have regulated cryptocurrencies. have even made laws to regulate it. such as the application of taxes in cryptocurrency transactions on exchanges. but not all countries do this. but what I know is that countries in Southeast Asia like Indonesia have done it. Even in Indonesia, a protection association for cryptocurrency users has been established. and the association works closely with the government and often helps crypto users who have been fooled by scam crypto projects. and they have solved many cases. the association was named "Indonesian Crypto Consumer Association (ICCA)".

After the presence of this association, scam projects were feared and there were no more scam projects popping up in Indonesia.

there will be a third party if the government intervenes in this field, everything will be limited so that crypto will be centralized because someone regulates it. let the government support this technology and not interfere with the ownership of its users. Most importantly, the government can only cooperate with local exchanges so that they can monitor illegal activities related to money laundering or other crimes that harm the state.

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Quote from: JohnBitCo on October 01, 2022, 04:22:37 AM

Quote from: Robert518 on September 22, 2022, 04:20:06 AM

Why are many governments not regulating cryptocurrency?

Governments want to control cryptocurrencies and they do not understand how they can control the bitcoins and crypto even if they regulate it.

Also, there is a lack of knowledge and understanding when it comes to bitcoin and governments are afraid to regulate it.

All of exchange sites must comply with the regulation. Regulators didn't even feel worry about bitcoin. Bitcoin was nothing if there would be no people who bring their money to buy it. The fact that this can be controlled. that's easy for US to dump whole of crypto market through a short statement. I think just because you crypto is decentralized (only few) and then you are underestimating regulators.

Cling18

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Quote from: blockman on October 01, 2022, 05:50:12 AM

Quote from: inanilujimi on October 01, 2022, 02:00:35 AM

There are many now in several countries applying to the ownership of taxes on cryptocurrencies.
Honestly, I prefer them not to be set.
but why do you want the government in your country to regulate crypto??

Adoption is one of the positive results of government intervention with crypto. But, on the other hand, that also breaks the main purpose of crypto which is decentralization.
With the government having its regulation through cryptocurrencies, the first thing that anyone can think of is all about taxes. If there's no money in it, the government won't be touching crypto. But as they all discover that there's money circulating on it and it's not just millions of dollars but billions are there and has reached a trillion market cap for its potential, they won't be stopped to regulate it.

The government will always prefer regulating resources that they can tax and most governments nowadays are aware that cryptocurrency could be a big source of taxes. The worse thing is they could have it as another source of corruption since it can provide huge funds. I hope crypto could still remain decentralized despite their attempt to rule over it.

waONE

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Quote from: vanesha on September 28, 2022, 07:44:16 AM

Cryptocurrency is contrary to the traditional banks they build, of course it is not as easy for people to adopt cryptocurrencies. But many people think that the existence of cryptocurrency is the beginning of financial freedom because they are more receptive to this new financial technology.

For cryptocurrencies in my opinion, it is indeed a real threat to banking, but for blockchain technology of course it will be a profitable tool,
because this technology is truly accepted by everyone, if the government provides regulation of cryptocurrencies it will certainly make blockchain even more secure,
because the crime rate in the world of cryptocurrencies such as terrorist financing and money laundering will decrease.

vanesha

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Cryptocurrency is contrary to the traditional banks they build, of course it is not as easy for people to adopt cryptocurrencies. But many people think that the existence of cryptocurrency is the beginning of financial freedom because they are more receptive to this new financial technology.

Rufsilf

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I live in a country that allows cryptocurrencies to develop, until now there are no clear and binding rules for cryptocurrencies users, but for local exchanges there are those who have implemented taxpayer numbers and every withdrawal transaction to fiat will be cut off for taxes,.

Your government seems not to see any problem with crypto and that is why they never mind about it, But for those who have many reports regarding money laundering, they are now after to regulate crypto and hoping to control it. But I see no problem with it as long as they are doing this for the benefit of everyone, not to cause the down of crypto.

BobK71

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Quote from: radjie on October 01, 2022, 11:50:54 AM

Quote from: BRINIRHA on October 01, 2022, 02:54:32 AM

but now many countries have regulated cryptocurrencies. have even made laws to regulate it. such as the application of taxes in cryptocurrency transactions on exchanges. but not all countries do this. but what I know is that countries in Southeast Asia like Indonesia have done it. Even in Indonesia, a protection association for cryptocurrency users has been established. and the association works closely with the government and often helps crypto users who have been fooled by scam crypto projects. and they have solved many cases. the association was named "Indonesian Crypto Consumer Association (ICCA)".

After the presence of this association, scam projects were feared and there were no more scam projects popping up in Indonesia.

there will be a third party if the government intervenes in this field, everything will be limited so that crypto will be centralized because someone regulates it. let the government support this technology and not interfere with the ownership of its users. Most importantly, the government can only cooperate with local exchanges so that they can monitor illegal activities related to money laundering or other crimes that harm the state.

Governments will never be able to regulate cryptocurrencies by restricting them. But if they come forward, crypto can do better. As did the Indonesian government. But I'm optimistic that every country's government is already holding various meetings on cryptocurrencies. They are trying to figure out how to adopt it. But everyone has fear. But even if it takes more time, they will be bound to give the approval.

Beparanf

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Quote from: radjie on October 01, 2022, 11:50:54 AM

Quote from: BRINIRHA on October 01, 2022, 02:54:32 AM

but now many countries have regulated cryptocurrencies. have even made laws to regulate it. such as the application of taxes in cryptocurrency transactions on exchanges. but not all countries do this. but what I know is that countries in Southeast Asia like Indonesia have done it. Even in Indonesia, a protection association for cryptocurrency users has been established. and the association works closely with the government and often helps crypto users who have been fooled by scam crypto projects. and they have solved many cases. the association was named "Indonesian Crypto Consumer Association (ICCA)".

After the presence of this association, scam projects were feared and there were no more scam projects popping up in Indonesia.

there will be a third party if the government intervenes in this field, everything will be limited so that crypto will be centralized because someone regulates it. let the government support this technology and not interfere with the ownership of its users. Most importantly, the government can only cooperate with local exchanges so that they can monitor illegal activities related to money laundering or other crimes that harm the state.

3rd party is actually not necessary if the country is already fully aware on crypto existence and already prepared a law for it like US and EU. This 3rd party group on other country is just a support group for there government to guide them on crypto especially if the government itself is not fully adapting crypto in there country like most of the SEA country that still watching the other countries on how to handle crypto since they are feared on its volatility.

They just need to regulate exchanges just like what you said if they want to monitor all the transactions of there citizen since CEX is always the end point of the transaction for most of the users since its the common place to exchange crypto to fiat and vice versa.

akuntester1

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yups, talk about regulation, that many governments in various countries have not regulated cryptocurency regulations,
I think the government feels that cryptocurrencies are still not fully under their control because of their anonymity and secrecy.
it will make it difficult for the government and relevant authorities if there is misuse for negative activities.
but I believe they must be prepared or even have a plan, because of the high interest in crypto right now in every country.
like it or not, the government will definitely still regulate to control its citizens in developments in this digital age.
I'm sure they are monitoring and waiting for crypto developments in the long term and will decide on that soon.

blockman

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Quote from: inanilujimi on October 01, 2022, 02:00:35 AM

There are many now in several countries applying to the ownership of taxes on cryptocurrencies.
Honestly, I prefer them not to be set.
but why do you want the government in your country to regulate crypto??

Adoption is one of the positive results of government intervention with crypto. But, on the other hand, that also breaks the main purpose of crypto which is decentralization.
With the government having its regulation through cryptocurrencies, the first thing that anyone can think of is all about taxes. If there's no money in it, the government won't be touching crypto. But as they all discover that there's money circulating on it and it's not just millions of dollars but billions are there and has reached a trillion market cap for its potential, they won't be stopped to regulate it.

WalkerIVIV

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I live in a country that allows cryptocurrencies to develop, until now there are no clear and binding rules for cryptocurrencies users, but for local exchanges there are those who have implemented taxpayer numbers and every withdrawal transaction to fiat will be cut off for taxes,.

It seems like that your country didn't care so much about that which is good rather than banning with non sense reason. It seems like your country was allowing any platform to deal with crypto as long as it was paying some tax to the regulators.
I hope that another country can also implement it and then the regulators will not try to eyeing crypto as something that is illegal.

JohnBitCo

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Quote from: Robert518 on September 22, 2022, 04:20:06 AM

Why are many governments not regulating cryptocurrency?

Governments want to control cryptocurrencies and they do not understand how they can control the bitcoins and crypto even if they regulate it.

Also, there is a lack of knowledge and understanding when it comes to bitcoin and governments are afraid to regulate it.

glendall

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Quote from: Robert518 on September 22, 2022, 04:20:06 AM

Why are many governments not regulating cryptocurrency?

does not control but the government supervises it

the anonymous nature of the owner makes it difficult for the government to regulate cryptocurrencies because if something happens it is difficult to track
bitcoin is a decentralized currency the government will also find it difficult to control its price

BRINIRHA

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but now many countries have regulated cryptocurrencies. have even made laws to regulate it. such as the application of taxes in cryptocurrency transactions on exchanges. but not all countries do this. but what I know is that countries in Southeast Asia like Indonesia have done it. Even in Indonesia, a protection association for cryptocurrency users has been established. and the association works closely with the government and often helps crypto users who have been fooled by scam crypto projects. and they have solved many cases. the association was named "Indonesian Crypto Consumer Association (ICCA)".

After the presence of this association, scam projects were feared and there were no more scam projects popping up in Indonesia.

inanilujimi

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Quote from: Robert518 on September 22, 2022, 04:20:06 AM

Why are many governments not regulating cryptocurrency?

There are many now in several countries applying to the ownership of taxes on cryptocurrencies.
Honestly, I prefer them not to be set.
but why do you want the government in your country to regulate crypto??

Topic: regulating cryptocurrency (Read 808 times)