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

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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

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

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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.

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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.

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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??

theskillzdatklls

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Looks like the SEC and LBRY are going to trial in the USA starting on Monday. That will be a landmark case to follow if it goes through. Either way though, if either party wins, I'm pretty sure an appeal would come later. But whoever wins would have drastic implications on the legality of crypto and which regulatory agency overseas crypto moving forward.

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

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

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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.

Kelvinid

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Quote from: m_nief on September 30, 2022, 02:41:51 PM

All countries have regulating about cryptocurrency exactly with exchange market account due need pass KYC process for withdrawing, except with several countries regulated about which one available coins for listing on the market or not.

You're wrong, NOT all. Not all countries have concerns about crypto and some of them never mind about it and just let their people do buy and sell. It was just the exchanges themselves asking for KYC, not because they are pushed by the government (maybe in some areas). Maybe we could see all of the countries will impose those regulations but for now, it was just a few to have the urge to do this because they found out that this was used for criminal activities like money laundering and fraud.

m_nief

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All countries have regulating about cryptocurrency exactly with exchange market account due need pass KYC process for withdrawing, except with several countries regulated about which one available coins for listing on the market or not. Except still not get allowed regulating about bitcoin as legal currency transaction payment but government controlling about bitcoin so far seem good opportunity. Need waiting few years later to see regulating about cryptocurrency and become legal payment currency at the future, but if government have open minds and allow as investment way I think enough reason without expected one day later bitcoin become legal currency transaction.

doomloop

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Quote from: Humanoslib.com on September 27, 2022, 12:44:25 PM

I vote for 100% deregulation like it was in 2013, when Bitcoin used to be Bitcoin. We don't need regulation, we need to find freedom not more pretext to give the globalist slavery influence over an increased global police state.Decentralized exchanges and person to person commerce, what the enemies don't want.

It will not possible. Crypto has not yet become massive at 2013 unlike this time which already known by so many people in the world. I think that as long as you are still rely with centralized exchange site or gateway to cash out your money and that will never possible. Think about that.
The government was thinking about legality of crypto. So many people got scammed and what about that? If you are never getting scammed and you're good

I agree, it is impossible for it to get deregulated, which is common because things that get regulated once, rarely ever gets deregulated, would need high levels of lobbying in order to do that and it would cause a lot of exchanges to lose ground.

Look at coinbase, it is listed on nasdaq as a company and raised so much money from it, and many people sold their shares, deregulating crypto in the USA for example would mean that we would need to get that out of the stock lists. I am not saying it would be bad or good, I am saying it would be impossible. That means we have regulations and they are not going anywhere and we just need to accept that fact.

Wawa2013

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Quote from: Humanoslib.com on September 27, 2022, 12:44:25 PM

I vote for 100% deregulation like it was in 2013, when Bitcoin used to be Bitcoin. We don't need regulation, we need to find freedom not more pretext to give the globalist slavery influence over an increased global police state.Decentralized exchanges and person to person commerce, what the enemies don't want.

It will not possible. Crypto has not yet become massive at 2013 unlike this time which already known by so many people in the world. I think that as long as you are still rely with centralized exchange site or gateway to cash out your money and that will never possible. Think about that.
The government was thinking about legality of crypto. So many people got scammed and what about that? If you are never getting scammed and you're good

With cryptocurrencies becoming increasingly popular today, it is certain to get the attention of the government and many countries are trying
to regulate crypto. In fact, almost the majority of centralized exchanges have to carry out KYC procedures, because they are under government
regulation. At first I was also uncomfortable with the government's regulation of crypto, but since i have to exchange my crypto to fiat then make
a withdrawal to a bank account so i can use it, I have to be willing to do KYC. So it's a very different situation today with crypto in 2013,
now it's hard to avoid government regulations. Positive thing about the government's regulation of centralized exchanges is that I feel more secure
in conducting transactions, because centralized exchanges are under government supervision and it prevents exchange owners from committing
exit scams, which happened a lot before the government made arrangements for centralized exchanges.

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

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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.

Tony116

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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.

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Quote from: waONE on September 28, 2022, 12:24:55 PM

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.

The regulation of this market by the government is not really going to solve anything at all, banks are supposedly regulated by the governments and yet a great deal of financial crimes are never prosecuted, and when the crimes are big enough that it becomes impossible to ignore them at best they receive a fine they can easily pay, so make no mistake the regulation of this market has nothing to do with making it more secure and everything to do with control.

ethereumhunter

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Quote from: Mpamaegbu on September 27, 2022, 05:30:00 AM

Quote from: ethereumhunter on September 27, 2022, 04:59:28 AM

Quote from: Mpamaegbu on September 26, 2022, 02:58:49 PM

~snipped~.

We (I) do not demonize the government but only hope that the government can side with the small people struggling to get additional income and not side with the rich people who don't follow the rules. I agree that regulations help stem the tide of fraudulent activity and if the government can catch a bunch of these fraudsters, then I think the people will side with the government.

You can't categorically say for a fact that rich people aren't heavily taxed more than the poor folks. Most of these rich dudes are employers of labour who provide employment for others and at the same time engage in social corporate responsibility and that's even a way of helping government reduce unemployment rate and cost. So, even if government gives them task holiday or exempt them from paying tax, their social corporate responsibility to their countries is a major contribution to the welfare of their people.

Maybe it can be said like that, but we have seen the reality that some rich people can get away from paying huge taxes and even manipulate data to fill out tax forms. They should be subject to large taxes but by manipulating the data, the large taxes they should pay will be smaller because they have been manipulated.

Quote from: Mpamaegbu on September 27, 2022, 05:30:00 AM

Quote from: ethereumhunter on September 27, 2022, 04:59:28 AM

And if it is about tokens that end up deceiving many people, they are required to be able to analyze or do research to find the right token to invest and never follow other people's words before doing research.

It's good to do one's research before investing. However, not all researches yield positive results and we should also begin to see crypto as something very vast. Even here in this forum, there were reputable bounty and campaign managers who got played by projects they managed their concerns. I know they did their research before accepting the contracts but it also turned out they didn't look far enough. Crypto is deep.

Yes, you are right. Researching before investing is a must so that we can avoid being scammed by such an obscure project. Reputable bounty and campaign managers try to manage the project well so that no scam cases occur.

budi691

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This may be what makes it a bit difficult for the government to regulate it. Cryptocurrencies are decentralized, not centralized, in contrast to paper money which is centralized and can be regulated by the government, and Cryptocurrencies are systems without authority for transaction value unlike fiat systems, but we will see if there are proper rules. create cryptocurrency for each country in the future, because every country has different rules

Xal0lex

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Quote from: uneng on September 26, 2022, 04:48:51 PM

Quote from: Xal0lex on September 26, 2022, 04:07:46 PM

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

Why are many governments not regulating cryptocurrency?

What makes you think that many governments don't regulate cryptocurrencies? Read the report https://tile.loc.gov/storage-services/service/ll/llglrd/2021687419/2021687419.pdf. It says that more than 100 countries are already regulating cryptocurrencies, developing legislative and tax frameworks. Cryptocurrency regulation has come a long way in the last 3-4 years because this cryptosphere is growing a lot, the adoption is growing, crypto capitalization is growing. The proliferation of regulation is legitimate, amidst all this development. In 7-10 years, regulation will reach even greater heights.

Yes, what happens is that it's a slow process, because there are many discussions before the projects are elaborated and passed by the legislative houses. Furthermore, those bureaucrats have a lot of more important matters to discuss in their respective countries, so crypto usually stays in second plan, also due to the fact just a small percentage of the population has adopted it.

If most people in the world were using crypto I guess those projects would have much more attention from politicians and would be immediately implemented on every countries.

Many people and governments are skeptical of anything new and unexplored. Cryptocurrencies have always evolved from total rejection to total acceptance. First people talk bad about cryptocurrency, and then a few years later they become cryptoinvestors. Everyone goes through this path, investors, banks, companies, funds, governments, etc. Governments are initially skeptical of cryptocurrencies, seeing them as something that is used in illegal transactions, but as they get better, this opinion changes and so do the laws regarding cryptocurrencies.

Humanoslib.com

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I vote for 100% deregulation like it was in 2013, when Bitcoin used to be Bitcoin. We don't need regulation, we need to find freedom not more pretext to give the globalist slavery influence over an increased global police state.Decentralized exchanges and person to person commerce, what the enemies don't want.

tvplus006

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Quote from: ?? on ??

...They cannot find out, if a person has BTC or not, or how many Bitcoins he/she has...

This can only happen if such an address has not been publicly published and if the person has never traded on a centralized exchange and, accordingly, has not passed KYC. And there is no doubt that sooner or later the regulation of cryptocurrencies will enter our lives.

Crypt0Gore

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The time for regulation will come as it's been discussed behind already, I think crypto exchanges will be the main focus as there are many coins that have privacy security and anonymous team and devs and the only way for the government to be in power over such projects is through exchanges where they are listed for buying and selling.

globalpain

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The strict regulation is time to be made and implemented, currently a new project is prone to be used for scams because in my opinion the easiest thing to scam is to create a new project, with a capital creativity and a little money for pump when in the market it will be easy to trick investors.

Making strict regulations is not an easy thing too and certainly takes a lot of time,
new projects are synonymous with scams and things like that are certainly very unfortunate,
let's see what happens next

lixer

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Quote from: ?? on ??

We all know there are several ways to move the funds in the cryptos and its not easy for any govt to track every transaction even we all know there are many exchanges that do not ask about the KYC so tracking transaction without details is quite a tough task for the govt so most of the countries are hesitating to regulate it even we see Govts are imposing heavy taxes on crypto earning and that demotivates the investors apart from this Govts knows they can not completely stop crypto from falling into the wrong hands that are also the reason of not regulating it.

They are called decentralized exchange. Only a few number of centralized exchange doesn't ask for a KYC on normal trades but they might ask later once the user exceeds from their limits. I believe that many people are using a centralized exchange over the decentralized one. Aren't that enough for the governments to start regulating a crypto? Or maybe they have done that already?

Because, I think I heard some countries before in which crypto is already regulated. Imposing a tax can be more legal this way. They can't stop crypto from falling in the wrong hands or to those criminals but they can always do something to catch those criminals.

Smack That Ace

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Quote from: Questat on September 26, 2022, 04:27:52 AM

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

Why are many governments not regulating cryptocurrency?

But what is the purpose of having it regulated? Because if the reason is just to stop fraud and scams, that eventually was not effective for these scammers will still find a way. The government makes no reason for doing this for now and it was also because people are more comfortable with the decentralized market, no regulations, no taxes, and much more they wanted to remain anonymous.

Why can't it stop scammers?, regulation won't stop all scammers completely, but I believe it will reduce somewhat. Without regulation, criminals can roam around to scam without fear of facing the consequences, but once regulations are in place, scammers will face the appropriate punishment, they will be scared. Regulation will bring us advantages and disadvantages, maybe our freedom will be limited but thanks to regulation, we will be able to survive in a cleaner market, without too many pitfalls. If there were regulations, perhaps the Dokwon incident would not have happened so cruelly.

Mpamaegbu

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Quote from: ethereumhunter on September 27, 2022, 04:59:28 AM

Quote from: Mpamaegbu on September 26, 2022, 02:58:49 PM

~snipped~.

We (I) do not demonize the government but only hope that the government can side with the small people struggling to get additional income and not side with the rich people who don't follow the rules. I agree that regulations help stem the tide of fraudulent activity and if the government can catch a bunch of these fraudsters, then I think the people will side with the government.

You can't categorically say for a fact that rich people aren't heavily taxed more than the poor folks. Most of these rich dudes are employers of labour who provide employment for others and at the same time engage in social corporate responsibility and that's even a way of helping government reduce unemployment rate and cost. So, even if government gives them task holiday or exempt them from paying tax, their social corporate responsibility to their countries is a major contribution to the welfare of their people.

Quote

And if it is about tokens that end up deceiving many people, they are required to be able to analyze or do research to find the right token to invest and never follow other people's words before doing research.

It's good to do one's research before investing. However, not all researches yield positive results and we should also begin to see crypto as something very vast. Even here in this forum, there were reputable bounty and campaign managers who got played by projects they managed their concerns. I know they did their research before accepting the contracts but it also turned out they didn't look far enough. Crypto is deep.

ethereumhunter

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Quote from: Mpamaegbu on September 26, 2022, 02:58:49 PM

Quote from: ethereumhunter on September 26, 2022, 04:12:14 AM

Quote from: Mpamaegbu on September 26, 2022, 12:24:58 AM

~snipped~.

Try to understand that the government is currently trying to suppress the rate of cryptocurrency and several countries have not yet given the approval to legalize cryptocurrencies. But they are working on it.

In as much as I (or anyone else) demonize the government, we can't help but look at the positive side of regulations too. For me, I want to believe that regulation will help stem the tide of scam activities. People just sit on their beds with a laptop on their laps and create shit tokens without an iota of use, push these tokens to the market and cash out without much stress. In most cases they can't even be traced and that ends it. Regulation, among other things, will change all that. That's the angle I'm looking at it from.

We (I) do not demonize the government but only hope that the government can side with the small people struggling to get additional income and not side with the rich people who don't follow the rules. I agree that regulations help stem the tide of fraudulent activity and if the government can catch a bunch of these fraudsters, then I think the people will side with the government.

And if it is about tokens that end up deceiving many people, they are required to be able to analyze or do research to find the right token to invest and never follow other people's words before doing research. They or we should be aware that this is the way to avoid fraud and the government will help them if they get scammed.

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Quote from: Xal0lex on September 26, 2022, 04:07:46 PM

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

Why are many governments not regulating cryptocurrency?

What makes you think that many governments don't regulate cryptocurrencies? Read the report https://tile.loc.gov/storage-services/service/ll/llglrd/2021687419/2021687419.pdf. It says that more than 100 countries are already regulating cryptocurrencies, developing legislative and tax frameworks. Cryptocurrency regulation has come a long way in the last 3-4 years because this cryptosphere is growing a lot, the adoption is growing, crypto capitalization is growing. The proliferation of regulation is legitimate, amidst all this development. In 7-10 years, regulation will reach even greater heights.

Yes, what happens is that it's a slow process, because there are many discussions before the projects are elaborated and passed by the legislative houses. Furthermore, those bureaucrats have a lot of more important matters to discuss in their respective countries, so crypto usually stays in second plan, also due to the fact just a small percentage of the population has adopted it.

If most people in the world were using crypto I guess those projects would have much more attention from politicians and would be immediately implemented on every countries.

nurilham

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Quote from: Lantind on September 26, 2022, 03:00:30 PM

Actually the government wants to regulate cryptocurrency, but the government cannot regulate it. I said that this crypto is very wild, no one can control it. Crypto can be obtained by anyone, so the government cannot control millions of wallets. The government can only make rules on local exchanges, where the government can suppress taxes on every withdrawal of crypto assets to fiat through a network of banks.

Honestly, true.
One way for governments to control or regulate cryptocurrencies is by requiring certain exchange platforms to perform KYC and be under the regulation of a country. KYC and these regulations are necessary not only for the users but also for the exchanges. Moreover, they also demand monthly reporting and tax payments.
And once again, regulation of crypto will lead to money (whether taxes, fines, fees, or other needs) for the government itself.
Not only that, they really want to regulate crypto because they know that crypto is actually decentralized but they don't like it because they can't control it directly. sometimes because of this, they don't want to legalize crypto in their country for some of these reasons.

Xal0lex

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

Why are many governments not regulating cryptocurrency?

What makes you think that many governments don't regulate cryptocurrencies? Read the report https://tile.loc.gov/storage-services/service/ll/llglrd/2021687419/2021687419.pdf. It says that more than 100 countries are already regulating cryptocurrencies, developing legislative and tax frameworks. Cryptocurrency regulation has come a long way in the last 3-4 years because this cryptosphere is growing a lot, the adoption is growing, crypto capitalization is growing. The proliferation of regulation is legitimate, amidst all this development. In 7-10 years, regulation will reach even greater heights.

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The SEC is hell bent on turning everything in the world into a security. They want to work their way into a few projects to then set precedent to apply it broadly to the entire world of cryptocurrency and not enough people are paying attention to it's implications.

Super hostile to blockchain technology in the USA. Really bad for it's future if the SEC wins it's case.

https://decrypt.co/110468/sec-out-to-damage-or-destroy-crypto-industry-lbry-ceo

This article just came out detailing the situation a day ago.

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

Why are many governments not regulating cryptocurrency?

Actually the government wants to regulate cryptocurrency, but the government cannot regulate it. I said that this crypto is very wild, no one can control it. Crypto can be obtained by anyone, so the government cannot control millions of wallets. The government can only make rules on local exchanges, where the government can suppress taxes on every withdrawal of crypto assets to fiat through a network of banks.

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Quote from: ethereumhunter on September 26, 2022, 04:12:14 AM

Quote from: Mpamaegbu on September 26, 2022, 12:24:58 AM

~snipped~.

Try to understand that the government is currently trying to suppress the rate of cryptocurrency and several countries have not yet given the approval to legalize cryptocurrencies. But they are working on it.

In as much as I (or anyone else) demonize the government, we can't help but look at the positive side of regulations too. For me, I want to believe that regulation will help stem the tide of scam activities. People just sit on their beds with a laptop on their laps and create shit tokens without an iota of use, push these tokens to the market and cash out without much stress. In most cases they can't even be traced and that ends it. Regulation, among other things, will change all that. That's the angle I'm looking at it from.

sana54210

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Quote from: Mpamaegbu on September 26, 2022, 12:24:58 AM

Quote from: ethereumhunter on September 22, 2022, 07:33:15 AM

Governments are unaware of the existence of cryptocurrencies and when they know about it, they have become popular and are trying to learn about it.

Really? Do you convincingly think so or you're just saying it? That governments are unaware of cryptocurrencies? Nah, it's not true. Tell us that governments aren't too interested in it yet as you noted later in that post and that will be plausible. We're in a world of internet and social media where every item of news flies across the globe in minutes and you think politicians don't pay attention to news? That will be unexpected. They do listen to news more than the ordinary folks. So, they know.

I would guess that what he meant was they weren't aware of it until it was already too famous. Like governments didn't really do much about it when it was under 100 dollars, and when it was over 10k dollars they all did something about it, which shows that we are talking about something that is a bit too late by the governments, they should have gotten some laws ready for it before it became famous.

However, I agree that they were ready for it one way or another, just didn't do anything about it until it became too famous. The reason for that is the fact that it wasn't really bothering too many people, nowadays too many people are losing money to it.

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Since this thread on altcoins section, so we're talking about government regulating altcoin.

Well it's very possible for government to regulating altcoin since altcoin is centralized same like government, moreover few altcoins are created to support centralization or banks lol. I think the reason why government doesn't yet regulating altcoin is they're prefer to create their own coin e.g. CBDC rather than regulate other unknown name coin. I think government might regulating of stable coin use, but not for vast majority altcoin due to high volatility.

samuraijin

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There are so many governments in every country that are pro or not by regulating cryptocurrency for each user, even though it's only a large number of countries that legalize cryptocurrency to manage it, what about governments in parts of the world that have not legalized cryptocurrency, some users are still silent about holding it, because That's why there are still many users who don't want their government to manage cryptocurrency because of the user's distrust of their government.

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Government will always regulates what they have control of, since is above them they can't have full access or control more especially those country that has little knowledge about cryptocurrencies have not regulated theirs either, regulation goes to those country who's individual are making living out of it. it is monitoring that brings about regulation so since government can't monitor your movement or tracks i don't think regulation would be that easier for them rather they implement any wallet hold much volume of crypto currency will pay task.

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

Why are many governments not regulating cryptocurrency?

But what is the purpose of having it regulated? Because if the reason is just to stop fraud and scams, that eventually was not effective for these scammers will still find a way. The government makes no reason for doing this for now and it was also because people are more comfortable with the decentralized market, no regulations, no taxes, and much more they wanted to remain anonymous.

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that's why crypto is called decentralized because it doesn't get regulation from the government. but getting here I think decentralization will also be erased since regulations have started exploring crypto everything will be under regulated so it is very difficult to find pure decentralized crypto.

The development of the number of cryptocurrencies is very fast, when it is available more than 22k, of course this is like a jokes, and I hope the presence of strict regulations so that it can make a higher quality project and of course reduce the scam from the project.

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Governments do not yet want to recognize cryptocurrencies because they are decentralized and maintain privacy. These wonderful features that cryptocurrencies hold make them undesirable by governments at all, but since they have become a reality and many people use them, governments have begun to study the regulation of cryptocurrencies because they can't ignore it more than that, but governments are looking for laws that will enable them to control cryptocurrencies completely.

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<------

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

Why are many governments not regulating cryptocurrency?

Hello, they may not be seen regulating cryptocurrency but lets have the last big thing which happened to Ethereum. From POW to POS, I believe this could just give Bankers a way in to be still the one mining thus it really goes from non-regulation to potentially bankers being able to monopolize the mining operation. I mean they can stake more than others(they have deep funding) and possibly if governments were to help these banks, they would be unstoppable.

This is just my opinion though.

TribalBob

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

Why are many governments not regulating cryptocurrency?

The decentralized Bitcoin nature that makes the government think repeatedly to regulate it, because at any time BTC will not be regulated by the government,

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Quote from: Mpamaegbu on September 26, 2022, 12:24:58 AM

Quote from: ethereumhunter on September 22, 2022, 07:33:15 AM

Governments are unaware of the existence of cryptocurrencies and when they know about it, they have become popular and are trying to learn about it.

Really? Do you convincingly think so or you're just saying it? That governments are unaware of cryptocurrencies? Nah, it's not true. Tell us that governments aren't too interested in it yet as you noted later in that post and that will be plausible. We're in a world of internet and social media where every item of news flies across the globe in minutes and you think politicians don't pay attention to news? That will be unexpected. They do listen to news more than the ordinary folks. So, they know.

Just a moment. Okay, we assume the government is aware of the presence of cryptocurrencies. Still, they don't pay much attention until, finally, cryptocurrencies become big and popular as they are now. Then the government realizes they are a little late and trying to control its movements. But it's a bit late because many people have already joined and are using crypto as a tool to make money.

Try to understand that the government is currently trying to suppress the rate of cryptocurrency and several countries have not yet given the approval to legalize cryptocurrencies. But they are working on it.

Quote from: Mpamaegbu on September 26, 2022, 12:24:58 AM

Quote from: ethereumhunter on September 22, 2022, 07:33:15 AM

And hopefully, the government will continue to allow us to use it and not make regulations that are too strict for its citizens.

Contrarily, I think regulations will further help strengthen this crypto industry and help checkmate scams and all that the same way we now have it in Forex trading. No regulations will mean that scammers will continue to have free hands without checks.

Helping the crypto industry? Maybe it will not happen for a while because the government is still making the regulations. Maybe for some countries, the regulations are ready but for most countries, there are still many that have not legalized crypto. But indeed, the government wants to help reduce fraud in investing in crypto.

Mpamaegbu

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Quote from: ethereumhunter on September 22, 2022, 07:33:15 AM

Governments are unaware of the existence of cryptocurrencies and when they know about it, they have become popular and are trying to learn about it.

Really? Do you convincingly think so or you're just saying it? That governments are unaware of cryptocurrencies? Nah, it's not true. Tell us that governments aren't too interested in it yet as you noted later in that post and that will be plausible. We're in a world of internet and social media where every item of news flies across the globe in minutes and you think politicians don't pay attention to news? That will be unexpected. They do listen to news more than the ordinary folks. So, they know.

Quote

And hopefully, the government will continue to allow us to use it and not make regulations that are too strict for its citizens.

Contrarily, I think regulations will further help strengthen this crypto industry and help checkmate scams and all that the same way we now have it in Forex trading. No regulations will mean that scammers will continue to have free hands without checks.

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

Why are many governments not regulating cryptocurrency?

Government regulation of cryptocurrency has never be much effective indecencies that bitcoin regulations is not dependable by the government. Actually from my perception government just have a limited control over cryptocurrency and that can be occur one specific directions which is a specific country, and it's not something we can generalize. Because I knew that government don't have much influence in cryptocurrency regulations, and assume that they can regulate cryptocurrency they would manipulate the values of cryptocurrency by now.

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Quote from: justdimin on September 25, 2022, 12:40:02 PM

Quote from: Uang_kartal on September 23, 2022, 01:11:02 AM

since the beginning, cryptocurrencies were created. Also the initial founders, especially bitcoin, were created, not for institutions or agencies. Because in order to fill personal and anonymity gaps, of course the above providers require transparency of customer data. Indeed, I personally don't like it. And it's not safe. .
I feel that if crypto is meant to be like that, maybe the government will intervene with it. But gradually some countries are adopting this blockchain. And it is possible that awareness of this technology will continue to increase. Although there are also some countries that openly prohibit their citizens using cryptocurrencies. yes this is how government officials in a country judge from an economic point of view, investment or transaction tools or even just an unexpected view

Governments have every right to care about what you do with it, not how it is ruled. Bitcoin for example cannot be changed into another chain by a government, they could try to do their own fork if they want to but that will only result with nobody caring about it. That's why I would highly suggest not caring about what regulations are saying, if you do not get out of crypto that quickly, it doesn't matter to you at all and you shouldn't be investing into it at all.

I would honestly say that it would be a smarter idea to invest into something that is not controlled by the government and you could do whatever you want with them as long as you do not get out.

Some people have this mistaken idea that governments are all powerful or something but that is not the case, just because they want to regulate cryptocurrencies and bend them to their will this does not mean this will happen, after all bitcoin is decentralized and governments have a long history of being unable to deal with decentralized entities, just look at torrents, the music and movie industries have complained about unauthorized downloads for decades and they have been unable to stop them, and the same is going to be true about this market as well.

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Quote from: Uang_kartal on September 23, 2022, 01:11:02 AM

since the beginning, cryptocurrencies were created. Also the initial founders, especially bitcoin, were created, not for institutions or agencies. Because in order to fill personal and anonymity gaps, of course the above providers require transparency of customer data. Indeed, I personally don't like it. And it's not safe. .
I feel that if crypto is meant to be like that, maybe the government will intervene with it. But gradually some countries are adopting this blockchain. And it is possible that awareness of this technology will continue to increase. Although there are also some countries that openly prohibit their citizens using cryptocurrencies. yes this is how government officials in a country judge from an economic point of view, investment or transaction tools or even just an unexpected view

Governments have every right to care about what you do with it, not how it is ruled. Bitcoin for example cannot be changed into another chain by a government, they could try to do their own fork if they want to but that will only result with nobody caring about it. That's why I would highly suggest not caring about what regulations are saying, if you do not get out of crypto that quickly, it doesn't matter to you at all and you shouldn't be investing into it at all.

I would honestly say that it would be a smarter idea to invest into something that is not controlled by the government and you could do whatever you want with them as long as you do not get out.

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Quote from: ?? on ??

Because not all countries allow legal tender using crypto currency. And not all countries understand about cryptocurrencies. Crypto transactions will occur if both parties have a wallet to store the cryptocurrency. Most likely it will still take a long process if crypto currency will actually be used as a means of payment in general

No man, legal tenders was not a must just to create a regulation for crypto. The country can decide whether they wanna try to create regulation for crypto or not. I think that that's clear if country will be regulating crypto once there will be a urgent situation that was pushing them to regulate crypto just like luna's incident. it must be noted that if so many countries are still conisder crypto in the gray area

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

Why are many governments not regulating cryptocurrency?

Cryptocurrency is a digital asset, unlike the fiat cash which has government bands and regulations. Cryptocurrency can not be regulated because is not being printed like cash and due to high volatility that is attached to it.

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Quote from: serjent05 on September 24, 2022, 03:23:20 PM

Bitcoin is under cryptocurrency, you just rebutted your statement about cryptocurrency is not decentralized. And besides Bitcoin is proven to be not anonymous but rather a pseudo-anonymous.

I mean that not all cryptocurrencies are decentralized, even most cryptocurrencies today are concentrated, only a few are decentralized and Bitcoin is one of the numbers there.

Bitcoin is pseudo-anonymous, what is it like? I still don't understand what you mean here, What do you mean that Bitcoin cannot help us anonymous if we use it, it's not as anonymous as we still say? People can also find our identity if we use Bitcoin, even if we do not use any centralized exchange and do not claim we own Bitcoin. You make me a bit confused.

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Quote from: ?? on ??

that's why crypto is called decentralized because it doesn't get regulation from the government. but getting here I think decentralization will also be erased since regulations have started exploring crypto everything will be under regulated so it is very difficult to find pure decentralized crypto.

Once cryptocurrency enters a centralized platform, decentralization stops there, it only resumes when it leaves the platform. Cryptocurrency network is fully decentralized but once it gets into the platform, the process changes and the centralized network is used there until the the cryptocurrency is withdrawn.

Quote from: ?? on ??

Because not all countries allow legal tender using crypto currency. And not all countries understand about cryptocurrencies. Crypto transactions will occur if both parties have a wallet to store the cryptocurrency. Most likely it will still take a long process if crypto currency will actually be used as a means of payment in general

There is already a third-party application that allows cryptocurrency to be used as a mode of payment, and there is already an establishment that accepts Bitcoin so I do not think it will take that long. We are almost at it, and there are also several countries that allow the transaction of cryptocurrency.

Quote from: fuguebtc on September 24, 2022, 07:56:19 AM

Quote from: ?? on ??

that's why crypto is called decentralized because it doesn't get regulation from the government. but getting here I think decentralization will also be erased since regulations have started exploring crypto everything will be under regulated so it is very difficult to find pure decentralized crypto.

Cryptocurrency is not decentralized, only bitcoin is the best decentralized coin and it will not be controlled by the government even today governments are gradually introducing regulations governing cryptocurrencies. Regulations will be formed and enacted, then they will manage investors like us through centralized exchanges, still there will be no way to fully control bitcoin making it centralized. If you don't use centralized exchanges to trade or store bitcoins, you can be safe with the decentralization and anonymity that bitcoin provides.

Bitcoin is under cryptocurrency, you just rebutted your statement about cryptocurrency is not decentralized. And besides Bitcoin is proven to be not anonymous but rather a pseudo-anonymous.

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Quote from: fuguebtc on September 24, 2022, 07:56:19 AM

Quote from: ?? on ??

that's why crypto is called decentralized because it doesn't get regulation from the government. but getting here I think decentralization will also be erased since regulations have started exploring crypto everything will be under regulated so it is very difficult to find pure decentralized crypto.

Cryptocurrency is not decentralized, only bitcoin is the best decentralized coin and it will not be controlled by the government even today governments are gradually introducing regulations governing cryptocurrencies. Regulations will be formed and enacted, then they will manage investors like us through centralized exchanges, still there will be no way to fully control bitcoin making it centralized. If you don't use centralized exchanges to trade or store bitcoins, you can be safe with the decentralization and anonymity that bitcoin provides.

Yes, not all of them are fully decentralized, and bitcoin as prime mover is one example. And that's why the government is doing their best to control it by introducing regulations and we already felt the brunt of it. At least when I join crypto market in early 2017, regulation is still lax though. Until those regulatory bodies took control and force everyone, from exchanges globally, to local exchange and then gambling platform. And yet bitcoin and other crypto is still standing, very much alive and although there is regulations, still hard to control by the authorities.

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Quote from: ?? on ??

that's why crypto is called decentralized because it doesn't get regulation from the government. but getting here I think decentralization will also be erased since regulations have started exploring crypto everything will be under regulated so it is very difficult to find pure decentralized crypto.

Cryptocurrency is not decentralized, only bitcoin is the best decentralized coin and it will not be controlled by the government even today governments are gradually introducing regulations governing cryptocurrencies. Regulations will be formed and enacted, then they will manage investors like us through centralized exchanges, still there will be no way to fully control bitcoin making it centralized. If you don't use centralized exchanges to trade or store bitcoins, you can be safe with the decentralization and anonymity that bitcoin provides.

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

Why are many governments not regulating cryptocurrency?

It was not necessary yet unless it becomes a threat that really needs to have such regulations. I know "regulations" can be somewhat in a plan in the future and I know all countries will take that move in order to minimize criminal/illegal activities. Have you ever thought this is easy? Absolutely, not as it needs a law specifically for cryptocurrency, and possibly not all lawmakers and government officials have agreed to do this.
But for sure, you will know if your country regulates crypto and that was the time you will pay taxes upon holding this.

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Quote from: ?? on ??

that's why crypto is called decentralized because it doesn't get regulation from the government. but getting here I think decentralization will also be erased since regulations have started exploring crypto everything will be under regulated so it is very difficult to find pure decentralized crypto.

regulators can issue regulation for crypto anytime. Decentralization doesn't matter a lot in this case. You can find that easily just like bitcoin and any other coins that are still using POW as its consensus to be the main decentralized coins for now. I think that you must also aware about this too. it's not so difficult to find the decentralized coin but it would be different when it comes to the centralized exchange site

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

Why are many governments not regulating cryptocurrency?

Maybe at that time they didn't know the potential of cryptocurrency in the future and didn't know it would be this big, therefore they didn't try to interfere or find out about cryptocurrencies. If they knew from the start that cryptocurrencies were going to be big and well-developed, they probably already regulated and legislated on cryptocurrencies for whatever reason in their country.

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Quote from: goinmerry on September 23, 2022, 06:59:27 PM

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

Why are many governments not regulating cryptocurrency?

Because it's not that simple to regulate crypto as in the first place, crypto has no central authority. How can the government put legality to touch crypto where in the first place they don't own it? They can just regulate it if the country will accept crypto as legal tender or just ban crypto in that country.

Instead, what the government can do is regulate crypto exchanges and other crypto-related services the same as how banks comply with the country's law.

This is what has confused governments all over the world, governments are really good at dealing with an enemy that is centralized but they are terrible at dealing with an enemy that is decentralized, satoshi knew this and this is why he created bitcoin the way it is.

So governments did not really knew how to deal with this market but slowly they are figuring out a way to do so by regulating any centralized entity that deals with cryptocurrencies, but even that is not enough to completely control this market and they know it, which is why they are looking for more effective ways to do so.

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

Why are many governments not regulating cryptocurrency?

Because it's not that simple to regulate crypto as in the first place, crypto has no central authority. How can the government put legality to touch crypto where in the first place they don't own it? They can just regulate it if the country will accept crypto as legal tender or just ban crypto in that country.

Instead, what the government can do is regulate crypto exchanges and other crypto-related services the same as how banks comply with the country's law.

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

Why are many governments not regulating cryptocurrency?

Initially, cryptocurrency is created for decentralization. And many people in this world really accept this. However, it is different with the government, government always wants anything to be regulated and under their control of them. They don't want there to be something that cannot be controlled, like this cryptocurrency. They always use many reasons why they commonly will regulate crypto. One of them is that they want to avoid money laundrying and other reasons. Although actually, this reason is really clise.
But inf act, although as long as they want to regulate, they cannot regulate crypto fully. Because most crypto is created decentralized. What they can do is probably tighten the regulation of crypto transaction in their country, including regulating the platforms of crypto exchanges or any thing projects created in the country.

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Quote from: jaberwock on September 23, 2022, 03:36:51 PM

Quote from: dlightag on September 23, 2022, 03:36:05 AM

In most country leaders have not upgrade into digital way of digital finance, which many are still tag cryptocurrency as Ponzi scheme, Nevertheless, is a just a matter of time, cryptocurrency will be regulated with a series of educating more people including have series of seminal with financial leaders in the country, it we really help to expand the ecosystem gradual process for a cryptocurrency regulation.

They don't upgrade because maybe they are contented already with the traditional way of transacting but not all of those countries tag cryptocurrency as a scam.

Aside from being contented, it needs a lot of money to upgrade. Aside from that, decisions often made after several official meetings, so it will take time to approve the upgrade and it take time to allocate plans and budget if the upgrade into digital way is agreed upon those meetings.

Quote from: jaberwock on September 23, 2022, 03:36:51 PM

There are also countries who join the digital trend but not in a way that they embrace the traditional cryptocurrencies that we know but they have created a digital version of their own local currencies. Don't expect too much that those countries will change over time but you can expect more on those neutral countries or those countries who don't have a hate in cryptocurrency but are also looking forward for digitalization. Maybe they are only waiting for a perfect timing to hop in.

yeah, they just open their market to the cryptocurrency and let the newly established crypto industry to propagate within their country and slowly adopt the technology.

Quote from: ?? on ??

If we say the regulation then the first thing is to approve the standard, there will be a debate and many developers do not want to make regulations, they think that cryptocurrencies are financial freedom so that regulations will be rejected, maybe market selection that will form whether the coin can survive or not.

True, financial authorities are afraid of anything that may strip them of their powers and will do everything they can to stop them. But once understood the promising result of adopting the technology, these finanial institution will be the one to implement the changes.

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Quote from: dlightag on September 23, 2022, 03:36:05 AM

In most country leaders have not upgrade into digital way of digital finance, which many are still tag cryptocurrency as Ponzi scheme, Nevertheless, is a just a matter of time, cryptocurrency will be regulated with a series of educating more people including have series of seminal with financial leaders in the country, it we really help to expand the ecosystem gradual process for a cryptocurrency regulation.

They don't upgrade because maybe they are contented already with the traditional way of transacting but not all of those countries tag cryptocurrency as a scam.

There are also countries who join the digital trend but not in a way that they embrace the traditional cryptocurrencies that we know but they have created a digital version of their own local currencies. Don't expect too much that those countries will change over time but you can expect more on those neutral countries or those countries who don't have a hate in cryptocurrency but are also looking forward for digitalization. Maybe they are only waiting for a perfect timing to hop in.

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I always think we are just not ready for it but when you see them creating different cryptocurrencies, you become pessimistic.
Conspiracy theories will come out that they just don't want what was available because of its decentralized attribute.
Being in control means a lot, they want to see every transaction we make and trace everything back to you whenever you are in debt. (i.e. tax)
They don't want you to be keeping anything from them.
On the surface, you have your privacy but deep inside there is really none.

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Quote from: TastyChillySauce00 on September 23, 2022, 01:47:35 AM

Quote from: electronicash on September 22, 2022, 11:12:33 AM

they dont know how to. in the US senate, they invite blockchain expert or someone knowledgable enough when they discuss crypto bill because law makers themselves doesn't know how to handle the tech behind crypto. and Gensler himself pretends not understanding it.

China give up in trying to regulate crypto.

With so many resources that owned by the regulators or government and it doesn't make sense if you said that they didn't know how to do that. I do believe if the fact that they could do that easily but the problem is creating regulation needs various considerations, audit, and so many process that must be done. It's not the same like you said that if the regularot can easily rolling out the new regulation. There must be a very long process to make it happen.

The fact is that making cryptocurrency regulations is not something that can be made easily,
it will take a long time for sure and even then whether the government is really serious or not in making regulations,
better just enjoy and let's see what happens next

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In most country leaders have not upgrade into digital way of digital finance, which many are still tag cryptocurrency as Ponzi scheme, Nevertheless, is a just a matter of time, cryptocurrency will be regulated with a series of educating more people including have series of seminal with financial leaders in the country, it we really help to expand the ecosystem gradual process for a cryptocurrency regulation.

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

Why are many governments not regulating cryptocurrency?

Because they do not have full power to do that and so far if we see many of them can only regulate by issuing several bills on cryptocurrency growth policies in their respective countries, crypto adoption is increasing in several countries and it is very possible in the future that the government they will not be able to stop its growth, they may even admit that the presence of crypto can make their country's economic growth better.

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Quote from: electronicash on September 22, 2022, 11:12:33 AM

they dont know how to. in the US senate, they invite blockchain expert or someone knowledgable enough when they discuss crypto bill because law makers themselves doesn't know how to handle the tech behind crypto. and Gensler himself pretends not understanding it.

China give up in trying to regulate crypto.

With so many resources that owned by the regulators or government and it doesn't make sense if you said that they didn't know how to do that. I do believe if the fact that they could do that easily but the problem is creating regulation needs various considerations, audit, and so many process that must be done. It's not the same like you said that if the regularot can easily rolling out the new regulation. There must be a very long process to make it happen.

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since the beginning, cryptocurrencies were created. Also the initial founders, especially bitcoin, were created, not for institutions or agencies. Because in order to fill personal and anonymity gaps, of course the above providers require transparency of customer data. Indeed, I personally don't like it. And it's not safe. .
I feel that if crypto is meant to be like that, maybe the government will intervene with it. But gradually some countries are adopting this blockchain. And it is possible that awareness of this technology will continue to increase. Although there are also some countries that openly prohibit their citizens using cryptocurrencies. yes this is how government officials in a country judge from an economic point of view, investment or transaction tools or even just an unexpected view

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Quote from: serjent05 on September 22, 2022, 03:37:03 PM

Quote from: ethereumhunter on September 22, 2022, 07:33:15 AM

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

Why are many governments not regulating cryptocurrency?

Governments are unaware of the existence of cryptocurrencies and when they know about it, they have become popular and are trying to learn about it. But because cryptocurrency is beyond their control, they don't fully regulate it. Maybe they can only set policies to use cryptocurrencies and adapt it to the conditions in their country. It looks like the government is still studying it and allowing its people to use it. And hopefully, the government will continue to allow us to use it and not make regulations that are too strict for its citizens.

The government are not some kind of noob that doesn't know about the existence of cryptocurrency. They already knew it, remember they have different departments and intels that can gather information, but they have a more important task in their hands than giving notice to the cryptocurrency industry.

It is either they regulate or ban cryptocurrency, most prefer being in the middle because it won't cost them anything. The only time they get involved in crypto is when they see a threat or potential benefits they have on it.

They are not noobs but what they do seems a bit late because they started taking action after crypto became popular and many people started working or using crypto. And what's more, there was a pandemic yesterday that left many people unable to go anywhere and that's where casino crypto started to grow fast.

The benefit that the government can take is how they can collect taxes from crypto users because we know that cryptocurrencies have developed into an industry that can provide large tax contributions. This is what the government wants.

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This is actually government's decision after try to analyze the crypto itself

It becomes a bit tricky when the government tries to use its own people to regulate stuff that is difficult for them to analyze. There are very few people who actually understand how crypto works in every country's administration. Still we can hope that each country attempts to go forward in civilization and not backward.

It will take a lot of time for governments to actually regulate crypto and move it forward, or they may not and only focus on CBDCs.

Whatever be the future, we should focus on collecting bitcoin as much as possible from our every day income and recycle that every bear-bull cycle so as to keep on increasing it.

Like I said in my last, there are problems with regulating a decentralized currency, how the governments will bypass that only they know.

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

Why are many governments not regulating cryptocurrency?

Because it is not very easy to regulate something that isn't centralized. But still most government has already found some way to regulate crypto currencies. Even if they can't directly control the network, they do have some way to indirectly control crypto currencies due to most people using centralized financial institutions like exchanges and wallets to do most of their transactions.

Other countries that has no regulation what so ever don't know how crypto currencies work or they don't actually care.

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

Why are many governments not regulating cryptocurrency?

What do you mean? There are a lot of government that are regulating crypto, they have mandated that all platform should be mandated to have KYC/AML. At least that is what is going on in our country. Our government is crypto friendly but in the last couple of years they are heavily regulating it. So you have to look at the country and their governments because it depends on their stance on crypto. So if they are on the other side of the spectrum, then expect a full blanket ban. But if they are very friendly, then regulations will have in our way. Some government might have their own CBDC for all we know.

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

Why are many governments not regulating cryptocurrency?

I don't think that government can regulate cryptocurrency, because it's a decentralized, because assuming that cryptocurrency is centralised currency it would have be easy for government to manipulate it and regulate it. Secondly. Bitcoin came unexpected to government and before they could know the adoption has gone far. And again bitcoin can be regulated in only one nation because of the usefulness in that nation, but generally that bitcoin will just be regulate i think it's impossible, even some of the countries that bitcoin is not legalize, the government of that country is only trying to regulates the adoption.

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

Why are many governments not regulating cryptocurrency?

Many countries now have their own regulations either to adopt cryptocurrency or just to ignore it for now. We cannot force them to do this, because what we are seeing now is that regulations can be very bad for cryptocurrency because it can kill the purpose of decentralized and being anonymous. Well, some countries don’t have any regulations yet but their people can freely own cryptocurrency and that’s actually a good one. Regulations might totally happen soon, I just hope for the positive impact of that.

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

Why are many governments not regulating cryptocurrency?

Many countries are regulating cryptocurrencies and some of the most important institutions around the world have called for an unified regulation coming from some of the most powerful countries around the world, now there could be some countries which haven't created any regulation at the moment, and the most likely reason for this is that there is simply not enough activity of those kind of assets in their country to justify a new regulation.

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Quote from: ethereumhunter on September 22, 2022, 07:33:15 AM

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

Why are many governments not regulating cryptocurrency?

Governments are unaware of the existence of cryptocurrencies and when they know about it, they have become popular and are trying to learn about it. But because cryptocurrency is beyond their control, they don't fully regulate it. Maybe they can only set policies to use cryptocurrencies and adapt it to the conditions in their country. It looks like the government is still studying it and allowing its people to use it. And hopefully, the government will continue to allow us to use it and not make regulations that are too strict for its citizens.

The government are not some kind of noob that doesn't know about the existence of cryptocurrency. They already knew it, remember they have different departments and intels that can gather information, but they have a more important task in their hands than giving notice to the cryptocurrency industry.

It is either they regulate or ban cryptocurrency, most prefer being in the middle because it won't cost them anything. The only time they get involved in crypto is when they see a threat or potential benefits they have on it.

Quote from: JoyMarsha on September 22, 2022, 02:51:07 PM

Cryptocurrency is not rampant. There is no need for the government to regulate it. The government only regulates what it sees its citizen getting highly involved with.
A country will only regulate cryptocurrency when it sees the danger of how scammers using it to dupe its citizens.

I highly agree with you, the time when the government steps in are when a certain cryptocurrency had done huge damage to its citizen.

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Cryptocurrency is not rampant. There is no need for the government to regulate it. The government only regulates what it sees its citizen getting highly involved with.
A country will only regulate cryptocurrency when it sees the danger of how scammers using it to dupe its citizens.

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There are different aspects to this, as per my understanding.

1. They can screen the exchanges through which money in going and keep track using KYC. Difficulty is that too many exchanges are running and more coming up as well as DEXs which cannot be monitored like that.

2. How to regulate? Confiscate and then prohibit the person or punishment for owning that currency. This is a difficult legal approach.

It is possible that governments may come up with something new, lets hope for the best.

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they dont know how to. in the US senate, they invite blockchain expert or someone knowledgable enough when they discuss crypto bill because law makers themselves doesn't know how to handle the tech behind crypto. and Gensler himself pretends not understanding it.

China give up in trying to regulate crypto.

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

Why are many governments not regulating cryptocurrency?

To be honest, cryptocurrencies do not have to be regulated, because indeed the nature of cryptocurrencies is that they are decentralized, not centralized,
meaning that regulation is not implemented, it's just that we know that cryptocurrencies are very vulnerable to crime, such as terrorist financing and even money laundering.
from that I hope more for all countries to legalize Bitcoin.

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Perhaps they are yet to come up with a better regulation policy that will benefit both government and the people. Besides, they can only achieve that through the various centralized platform that offer cryptocurrency services not that it will be so easy to regulate crypto.
The crypto community have been expecting this now so when it eventually happens it won't come as a surprise, even the governments are not sure how to go about the whole regulation process imo. I guess we have to wait and find out.

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

Why are many governments not regulating cryptocurrency?

It's easier said than done! Cryptocurrency is a authority less system for transacting value unlike the fiat system. So it is extremely difficult or even impossible for governments to regulate cryptocurrency. Even though the transactions are recorded in the blockchain, it is not easy to regulate.

Governments can provide guidelines and make laws on cryptos to be followed in their own country but it is then upto the citizens to follow and comply with such laws. If they don't, it's literally impossible for the governments to make them follow the law.

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

Why are many governments not regulating cryptocurrency?

it's caused by so many governments are thinking that if crypto was still in the grey area. that means if crypto shall or shall not be regulated actually depend with so many factors. You can't force the government to regulate crypto. The government knows what they must be doing with crypto. Some regulators have been deciding to regulate crypto and that this means if crypto is not always need to be regulated. I think that if you are aware about this and then you shall not feel curious about that.

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

Why are many governments not regulating cryptocurrency?

First, so many scammers in crypto and as governments, they must have laws, regulations to control and reduce scammers. To protect citizens including investors in crypto.

Second, they have to protect governmental benefit. To reach it, they must have more regulations, to control crypto market.

Fortunately, it is not only negatively. Please see it oppositely, in long term it will be very helpful and positively for crypto market and investors

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

Why are many governments not regulating cryptocurrency?

They have not seen yet its potential, but soon there will be many countries that will adopt it and regulate Cryptocurrency, the majority always rule if the majority of countries are using Cryptocurrency, those countries will adopt it or lift the restrictions, blockchain, and Cryptocurrency is the technology that will rule the world and if these countries are late or ignore in adopting it they will eventually suffer, they cannot ignore something that the majority of countries are using.

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

Why are many governments not regulating cryptocurrency?

Governments are unaware of the existence of cryptocurrencies and when they know about it, they have become popular and are trying to learn about it. But because cryptocurrency is beyond their control, they don't fully regulate it. Maybe they can only set policies to use cryptocurrencies and adapt it to the conditions in their country. It looks like the government is still studying it and allowing its people to use it. And hopefully, the government will continue to allow us to use it and not make regulations that are too strict for its citizens.

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

Why are many governments not regulating cryptocurrency?

It's because they're not yet ready and doesn't see its potential on their countries. Look at the countries that are regulating it right now, they're only looking at it because many of their citizens are making money off it. But, if their people are not making anything on it, it's either they'll just ignore it or worst ban it because they only hear bad things about cryptocurrencies being used in the black markets and through the use of illegal activities.

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Why are many governments not regulating cryptocurrency?

Topic: regulating cryptocurrency (Read 788 times)