regulation and legalization of cryptocurrency - page 7.

coynedterm

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Quote from: indrakusumaindra on June 11, 2018, 08:37:32 AM

There 7 cryptocurrency that are legal in thailand , its Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple, Litecoin, and Stellar. They also regulate the ICO. Now ICO can't be traded with fiat anymore and there is a fee for license.

http://www.livebitcoinnews.com/thai-sec-confirms-ico-tokens-will-not-be-traded-against-fiat-currencies/

What do you think about this regulations? I think its fair enough and i do think in few months 7 of this coin value could be increasing if more country has the similar regulations such as thailand.

In my opinion it is a type of the formalities that the government of Thailand did , No doubt that they made rule but here we should see that they are totally outside of the line of the work in the field of cryptourrency with fiat system .
Let see that they have restricted the trading of token with fiat , Ofcourse doller is not fiat of the thiland and also people in thiland can buy bitcoin and another altcoin asset to make buy of tokens in the ICOs project and this will clearly Result into easy to run ICO without any type of restrictions , so here rules are just formalities only .
And also here the rule of the legalisation of the fee Cryptourrency is not a big deal because they can't have background transaction of the another cryptourrency at exchange ( only a written data to buy and sell coins ) , so clearly here everything is open to work and there is no restriction .
Here I will hope that same types of the rule enter in the another countries where bitcoin is still not legalised and regualted yet .

Promipunit

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With the fee concept for ICOs, I think scams can be avoided. Mosylt scams won't pay the fee, so people won't have to worry about them. If other countries do legalise few coins then I think it is a good sign for those coins and their value can easily increase in near future.

Xising

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Quote from: indrakusumaindra on June 11, 2018, 08:37:32 AM

There 7 cryptocurrency that are legal in thailand , its Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple, Litecoin, and Stellar. They also regulate the ICO. Now ICO can't be traded with fiat anymore and there is a fee for license.

http://www.livebitcoinnews.com/thai-sec-confirms-ico-tokens-will-not-be-traded-against-fiat-currencies/

What do you think about this regulations? I think its fair enough and i do think in few months 7 of this coin value could be increasing if more country has the similar regulations such as thailand.

I think that although it imposes some rules and in some ways constraints users into fully using it at times. Having laws governing it and rules protecting its users is never a bad thing because it affords one the cushion to at least be comfortable that if some bad elements would use cryptocurrencies to do bad things or in the instant that a person may be robbed of his coins, then he or she can have some laws to actually use to protect himself or recover what he lost. When a law is imposed on something, it also somehow acknowledges its legitimacy, which is a good step for the cryptocurrency market.

sheenshane

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We all know that cryptocurrencies are not regulated even but they do regulate and make legalized those who have used it.
I think there's nothing wrong if they regulate crypto and other ICO because mostly ICO projects now are scam or a shitty project, in that country that OP said they are trying to be safe people in their country who has adopting crypto and one thing I guess the big reason people can't make illegal activities on cryptocurrency.
Therefore, they have a right to regulate and legalized for the sake of their community.

mostkey

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Quote from: 1Referee on July 01, 2018, 03:47:21 AM

Quote from: mostkey on June 30, 2018, 01:17:12 PM

If they only give regulation to the 7 coins you mentioned, then I think many people start to leave ico. I think it will have a lot of negative and positive impact on the development of crypto. Well, I agree to their regulation but I would strongly agree if they give you a regulation of all the coins not just the ones you mentioned earlier.

ICO's are a toxic element of this ecosystem. By reducing the number of options that people can choose from, money is more likely going to flow in the more established options that are offering at least some form of use. Imagine what would have happened with this market if all that capital would have been pumped into crypto itself instead of ICO's not contributing to anything.

People need to be protected against themselves with everything that's going on in the ICO industry. And if they still want to invest in ICO's, there will always be a way for them to enter through an alternative way. I'm not often on the side of the governments, but I'm definitely in favor of governments to crack down on ICO's.

what actions do you expect the government to take on ICO? sometimes due to the large number of scams and some problems that occur in the ICO investment industry. there are frequent restrictions on the government, and maybe it will be bad for ico development

Maame Esi Sergio

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For me I think regulation of crypto currency will be very great. There are too much coin in the system and others are yet to come to the system. scams are to many with fake ICOs that leaves investors in despair. I will be very glad if I see some form of regulations in the ICOs management to help reduce the issue of scam. I think is a great news for Thailand. Some people have taken the decentralized nature of crypto to fill their pockets which must not be so.

cherrymobile

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Quote from: indrakusumaindra on June 11, 2018, 08:37:32 AM

There 7 cryptocurrency that are legal in thailand , its Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple, Litecoin, and Stellar. They also regulate the ICO. Now ICO can't be traded with fiat anymore and there is a fee for license.

http://www.livebitcoinnews.com/thai-sec-confirms-ico-tokens-will-not-be-traded-against-fiat-currencies/

What do you think about this regulations? I think its fair enough and i do think in few months 7 of this coin value could be increasing if more country has the similar regulations such as thailand.

Legalization of cryptocurrency is not that easy to be great currency. I believe that bitcoin and technology. I believe that bitcoin and technology in this day and it is the future. The real problem here, and technology. Cause we have been working with banks, and technology. I even the most important nowadays,

Taki

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I think the strategy is perfect. The government gave a green light for sure crypto currencies in which there is no doubt and they regulate ICO which is also good, cause of many of them appear scam in the end. I guess with time and appearance of new coins the list of legal crypto will get wider. The next step should be adding crypto into their exchanging offices by banks.

zero9119

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Quote from: Flayme on June 30, 2018, 11:49:28 PM

Quote from: indrakusumaindra on June 11, 2018, 08:37:32 AM

There 7 cryptocurrency that are legal in thailand , its Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple, Litecoin, and Stellar. They also regulate the ICO. Now ICO can't be traded with fiat anymore and there is a fee for license.

http://www.livebitcoinnews.com/thai-sec-confirms-ico-tokens-will-not-be-traded-against-fiat-currencies/

What do you think about this regulations? I think its fair enough and i do think in few months 7 of this coin value could be increasing if more country has the similar regulations such as thailand.

I definitely agree to you also.... I think if almost all of the contries agree also with this regulation it will really help us to built a centralized market... Because if it is legal in other country soon a lots of country will follow also... You know what this news is really good... Thailand really accepts the uses of cryptocurrency and it is really good because atleast there is a country who recognizes also the uses of cryptocurrency all over the world...

I also think that if there is a good legal framework for the cryptocurrency market then that is very good and it will make this market get more attention of investors as it will become more transparent and secure than. I believe that as cryptocurrency is more popular around the world, the legal framework for this market will emerge.

Otsu

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I think, it's difficult for bitcoins and altcoins to be legalized sinced there are no regulating bodies that handling and managing this kind of business. And that's the reason why it is not been recognized by some countries because of it's volatile and it's anonymity. Just own opinion.

frowsiter

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Quote from: ASHLIUSZ on June 30, 2018, 09:11:29 AM

Regulation of bitcoin and other cryptocurrencies around the globe keeps on increasing. This will let more people to to engage into crypto related business and other related activities with confidence. Legalizing of bitcoin and other cryptocurrencies around the world is required in large scale to move forward focusing growth.

Hope so. The regulations better be on full scale and not just for the few currencies like the Thailand has done. It should be either in the full scale mode or there shoudlnt be regulations at all. It help for people to push themselves into the crypto because they believe in the government rather than something coming out as public ledger. There will be time when all the countries would be on the same page and they will mass adopt the bitcoin and most of the important currencies around the world. Then there would be real crypto currency world, legal and solid proofed.

1Referee

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Quote from: mostkey on June 30, 2018, 01:17:12 PM

If they only give regulation to the 7 coins you mentioned, then I think many people start to leave ico. I think it will have a lot of negative and positive impact on the development of crypto. Well, I agree to their regulation but I would strongly agree if they give you a regulation of all the coins not just the ones you mentioned earlier.

ICO's are a toxic element of this ecosystem. By reducing the number of options that people can choose from, money is more likely going to flow in the more established options that are offering at least some form of use. Imagine what would have happened with this market if all that capital would have been pumped into crypto itself instead of ICO's not contributing to anything.

People need to be protected against themselves with everything that's going on in the ICO industry. And if they still want to invest in ICO's, there will always be a way for them to enter through an alternative way. I'm not often on the side of the governments, but I'm definitely in favor of governments to crack down on ICO's.

Flayme

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Quote from: indrakusumaindra on June 11, 2018, 08:37:32 AM

There 7 cryptocurrency that are legal in thailand , its Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple, Litecoin, and Stellar. They also regulate the ICO. Now ICO can't be traded with fiat anymore and there is a fee for license.

http://www.livebitcoinnews.com/thai-sec-confirms-ico-tokens-will-not-be-traded-against-fiat-currencies/

What do you think about this regulations? I think its fair enough and i do think in few months 7 of this coin value could be increasing if more country has the similar regulations such as thailand.

I definitely agree to you also.... I think if almost all of the contries agree also with this regulation it will really help us to built a centralized market... Because if it is legal in other country soon a lots of country will follow also... You know what this news is really good... Thailand really accepts the uses of cryptocurrency and it is really good because atleast there is a country who recognizes also the uses of cryptocurrency all over the world...

wuvdoll

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Quote from: KeijiN on June 18, 2018, 11:12:04 AM

I suppose, that, if every country in the world would instantly accept the same laws an dregulations, the life would became so much easier, if you will be able to trade this way.

Actually, some countries would be quick and smart enough to take steps into at least being a part of the space since they realize the benefit it could bring for the economy of the country, while some will just be so adamant and stupid enough even with their draining economy.

This is one country that is at least giving it a shot, at least it is a start and that is lenient enough to me, which shows they are interested to see the space develop and sanely be a part of it including the citizens, not like a dead economy like Zimbabwe trying to block every means to see cryptocurrency being used. I really pity countries like that.

Faeton

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Quote from: indrakusumaindra on June 11, 2018, 08:37:32 AM

There 7 cryptocurrency that are legal in thailand , its Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple, Litecoin, and Stellar. They also regulate the ICO. Now ICO can't be traded with fiat anymore and there is a fee for license.

http://www.livebitcoinnews.com/thai-sec-confirms-ico-tokens-will-not-be-traded-against-fiat-currencies/

What do you think about this regulations? I think its fair enough and i do think in few months 7 of this coin value could be increasing if more country has the similar regulations such as thailand.

For a start, this is not bad. I do not think that Thailand will stop there. From time to time, these rules will be revised and therefore others will periodically be added to seven legalized crypto-currencies. The main thing is that the process has started.
If a fee is paid in Thailand for issuing a license for engaging in the production of initial coins (ICO), then probably this activity should be regulated. This is today important enough to avoid fraud in the ICO.

mostkey

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If they only give regulation to the 7 coins you mentioned, then I think many people start to leave ico. I think it will have a lot of negative and positive impact on the development of crypto. Well, I agree to their regulation but I would strongly agree if they give you a regulation of all the coins not just the ones you mentioned earlier.

yoseph

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Quote from: ASHLIUSZ on June 30, 2018, 09:11:29 AM

Regulation of bitcoin and other cryptocurrencies around the globe keeps on increasing. This will let more people to to engage into crypto related business and other related activities with confidence. Legalizing of bitcoin and other cryptocurrencies around the world is required in large scale to move forward focusing growth.

Regulations are actually very necessary because without it the governments are going to follow through with their threat of banning the cryptocurrency. And with regulation, it's going to do away with some criminal elements who are using it for their own purposes.

Lazada

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Quote from: indrakusumaindra on June 11, 2018, 08:37:32 AM

There 7 cryptocurrency that are legal in thailand , its Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple, Litecoin, and Stellar. They also regulate the ICO. Now ICO can't be traded with fiat anymore and there is a fee for license.

http://www.livebitcoinnews.com/thai-sec-confirms-ico-tokens-will-not-be-traded-against-fiat-currencies/

What do you think about this regulations? I think its fair enough and i do think in few months 7 of this coin value could be increasing if more country has the similar regulations such as thailand.

I think when there is a rule that supports bitcoin circulation then it will be very positive. although the regulation is still limited, but it has proved that the support of local government as in Thailand. With the recognition of the government there will be increased confidence in cryptocurrencies. Well this is what makes a good improvement for development, I prefer it because then there will be a freedom in using cryptocurrencies.

Meowth05

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Quote from: indrakusumaindra on June 11, 2018, 08:37:32 AM

There 7 cryptocurrency that are legal in thailand , its Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple, Litecoin, and Stellar. They also regulate the ICO. Now ICO can't be traded with fiat anymore and there is a fee for license.

http://www.livebitcoinnews.com/thai-sec-confirms-ico-tokens-will-not-be-traded-against-fiat-currencies/

What do you think about this regulations? I think its fair enough and i do think in few months 7 of this coin value could be increasing if more country has the similar regulations such as thailand.

Well, it will have an impact but it not that big like what you think, maybe a massive adaption across the world could make a huge changes though. However, I don't like the idea of having regulated across the world because when I heard the word regulation the first thing that come to my mind is bitcoin being controlled or manipulated by government which is bad I think.

BitcoinMarketer39

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Quote from: indrakusumaindra on June 11, 2018, 08:37:32 AM

There 7 cryptocurrency that are legal in thailand , its Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple, Litecoin, and Stellar. They also regulate the ICO. Now ICO can't be traded with fiat anymore and there is a fee for license.

http://www.livebitcoinnews.com/thai-sec-confirms-ico-tokens-will-not-be-traded-against-fiat-currencies/

What do you think about this regulations? I think its fair enough and i do think in few months 7 of this coin value could be increasing if more country has the similar regulations such as thailand.

If bitcoins is legal on their country then it was a very good news because those people who are living in that country can start trading in the market and the price of cryptocurrency will increase even more because of the demand.

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