Topic: Regulations for crypto currencies (Read 933 times)

I think more and more country would adopt the usage of cryptocurrency as their part of business, however some countries would think it's advantages and disadvantages to their economy, meanwhile for some countries that aren't going to accept cryptocurrency maybe they just leave it behind but some of other countries would allow cryptocurrency and makes a regulation that their country would also benefit from it.

Cryptocurrency has a lot of coins that are in a good position now. The results will be available in front of me. I think cryptocurrency is Will do something good up front

What we are talking about here is about the legalization of digital currency in a country, as I mentioned earlier that the country of El Salvador was the first country to legalize digital currency and also they already have a legal basis for their citizens to conduct transactions with digital currency. Well, we don't need to look at the negative side of that country. what we need to pay attention to is how in the country of El Salvador can apply government rules in regulating cryptocurrencies ??I think this is an appreciation run by El Salvador in the Digital era as it is today

"Bro", even with the government regulation, scammers are still there. Even outside crypto, scammers are still robbing people's money without their knowledge and they were not caught ever.
Of course taxes will be there, since most likely people would rake some income from it and IRS wouldn't just sit around and let that happen.

don't forget that regulations can bring some unpleasant features. for example, total KYC and restrictions on the transferred amounts of crypto. also there may be tough tax controls on all crypto incomes.

That's the good side of crypto being regulated.

But we have to understand that from the very start, there's no governing body that controls cryptocurrencies.

And that's why we're all equal on this market and there's no center for it. Now, that governments are becoming involved, it is what it is and that's part of the adoption growth rate.

Cryptocurrency regulation works differently in most countries. Do we cryptocurrency is being regulated in the United states, is not the same way that it is being regulated in Canada, United Kingdom, and other countries. So, it all depends in the country that you are living. And the way these countries sees Bitcoin is different from each other: take for example in the United Kingdom Bitcoin is seen as a property, but not as a legal tender. Then in the United States some agencies sees it as an asset, and some sees it as a security.

Most of them do regulate cryptocurrency, but I don’t really think that they can have the power over exchanges that are decentralized. Only centralized exchanges are the ones who register with the government agencies and are being regulated. So I don’t think this is going to affect bitcoin's nature of decentralization.

That's why bitcoin is developing to date, those two main goals are what support bitcoin to be more stable than other cryptocurrencies, no third party authority can fully regulate bitcoin, that means bitcoin grows only because of the development and interest of people, single controller will only play the issue important in the development of bitcoin, so that no other authority can influence bitcoin not to be centralized, this is what keeps bitcoin at such a high price to this day.

If any country pass some regulation in their country for cryptos so the exchanges will have to follow the regulations of that country so this way one can not say he is anonymous because when regulation is implemented exchanges will ask us for KYC to withdraw the funds or to fund the Ac so this way your details can be accessed by the govt If you are not paying the tax one can be tracked easily. If the cryptos will be regulated the effect of regulation will reduce the volatility of the market in my opinion.

Yes regulations should come on crypto, it will increase some good things in cryptocurrency world. People who always want to invest in crypto don't get fear when government making rules on crypto. We know there will no contol of anybody so government can accept Bitcoin or other crypto as payment mode. Matter like crypto world's governments should make a single guidine on how to use or how we control.

it becomes a serious conversation because nowadays, cryptocurrencies are much more developed than the last few years. it's a natural thing considering that crypto developments are very large in society. the creation of new regulations can make people who are interested in cryptocurrencies to be careful and selective in choosing crypto, because some of these regulations are likely to discuss the risks of cryptocurrencies.
regarding decentralization or not, it depends on the type of cryptocurrency involved, because there will be crypto that will still have a decentralized and centralized system. it's just that, specifically for bitcoin, I think it will forever be decentralized.

And thats the only chance on where government do really able to get in touched with crypto market is on to regulate those platforms because people would tend up to end with converting to fiat which its just
really a very common end of the line.

So as we do go further on upcoming years to come then expect for something like this to happen because this would be the only way that they could get taxes or regulate people
who are involved on it.

Which we do see on today that exchangers are slowly becoming centralized and asking for some KYC into its users.

I get that there will be a lot of people coming after bitcoin and crypto, but as long as we get it legalized then I do not care about the infighting of a country. That alone itself is not a good enough reason to attack crypto, it is a good reason to attack the president but nothing to do with crypto.

So by logic, if the other side saying "president is using crypto to defraud people" then simply elect someone else or impeach the one you have right now, that way crypto can stay, it will be there forever but the bad person will leave. I do not know if their president is actually doing it or not, all I am saying is that president defrauding using crypto is not a bad thing about crypto, if not for crypto then they could have done it with fiat just like everyone else. Our nations president defrauded the nation for hundreds of billions of dollars, never used crypto at all, same logic.

Currently, we can do whatever we want with cryptocurrencies until the very moment when we want to transfer our crypto capital to fiat. Then we immediately fall under the strict control of the state machine.

In my opinion, El Salvador is not the best example. I don't know if you watched the situation in this country after the legalization of cryptocurrencies .. Unfortunately, there was a lot of controversy there. There are many suspicions that the government of this country has used the legalization of cryptocurrencies to defraud money.
The regulations will be introduced gradually, but I think it will continue for many years to come.

I don't think cryptocurrency regulation by governments will centralize it because crypto is built for decentralization, and it is ultimately difficult to regulate decentralization. It is difficult for governments to understand how it works, and so they do not know what they are doing. People who put in effort into understanding the technology will succeed in regulating it, but I don't think government regulation will solve this problem.!!!

This does not mean that most countries will not succeed in issuing a regulation for cryptocurrency, but rather they can build an organization that contributes to the growth of decentralization!!!

Cryptocurrency is a new kind of currency. Countries should build new organizations that contribute to the growth of cryptocurrency, and start with those things that can be put into technology. The leaders of those organizations would make efforts and regulations and policies for cryptocurrency and at the same time try to support local economy and people, building it up from the bottom. And if they do this correctly, then countries will succeed in regulating cryptocurrencies.!!

in my opinion a cryptocurrency was built with the primary purpose of being decentralized and distributed, two very important qualities that could make or break crypto regulation. by being decentralized, Bitcoin doesn’t have a single controlling entity. The control is shared among several independent entities all over the world, making it nearly impossible for a single entity to wrangle full control over the network and manipulate it as they please.

Regulation does not limit decentralization, it's just that regulations regulate some that need to be added, on the one hand regulation provides a sense of security to invest, on the other hand the more different regulations, the harder it is for crypto to develop, considering that other countries will apply different regulations, and this will limit crypto in making non-binding decisions, crypto attitudes will definitely change if there are different regulations.

Perhaps, we don't need them either. Crypto will grow without their support and in fact, we've been in the situation before that nobody even to recognized the benefits we got from Bitcoin. But among those countries you have mentioned, only China ban crypto while the others are welcoming crypto in their place. It can happen that they could never just ignore Bitcoin forever and sooner or later, China will look it back and accept crypto again.

Tighter regulation doesn't matter. If desired, the cryptocurrency can be completely anonymous and decentralized, it is technically possible and nothing can stop it. As well as the existence of the darknet, there will always be a decentralized cryptocurrency. Nothing prevents you from making P2P transactions. The regulation will not in any way affect the algorithms of bitcoin, its performance and the ability to conduct transactions.
Attempts at regulation will lead nowhere globally. Those who use cryptocurrency for bad purposes (drugs, weapons, etc.) will definitely not go through KYC on Binance or other platforms. The restriction includes ordinary people who are partly not very knowledgeable about cryptocurrencies and possible operations with them.
No regulator will be able to completely take control of this virtual cryptocurrency world, and this is very pleasant.
I think the crypto community slightly overestimates the importance and danger of regulators, they will not be able to do anything. I am deeply convinced that now in the crypto world there are complete decentralized analogs for centralized services, and there is no need to send your data to someone. It is enough to have access to the wallet and maximum email.
Attempts at regulation are nothing more than speculation.
Residents of China or the United States also do not interfere with carrying out operations with cryptocurrencies. And the fact that this is considered a violation of the legislation of these states does not mean that this legislation does not violate your rights. You should always remember that your interests and freedoms are much more valuable than social and legislative ones.