Regulations for crypto currencies - page 3.

towi078

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Quote from: Hypnosis00 on November 06, 2021, 01:38:39 PM

Quote from: towi078 on November 06, 2021, 01:16:59 PM

Quote from: tvplus006 on October 17, 2021, 02:11:06 PM

Quote from: towi078 on October 17, 2021, 06:54:29 AM

...Please share, hopefully this can add insight for all of us

Ideally, it is not the cryptocurrency that should be regulated, but the structures that provide participants with access to the cryptocurrency market. In this case, the cryptocurrency will be safer for investments, since investments will be protected by law and, accordingly, there will be fewer scammers on the market.

Now, this may be a new understanding for me personally, because all this time, my thoughts are. If regulations are made for crypto, then it will more or less affect the decentralized nature of crypto to not be fully decentralized, because there is interference from certain parties (in this case the government).

That for sure it could affect but I'd never think that it can affect the volatile nature of the market. As if it happens that there is a strict crypto regulation, the number one that could change is to have KYC. It is pretty obvious that the government will ask for that for taxation reasons and this leaves us no way to escape but have to face it.

Many people had come due to the anonymity that crypto has but as this changes, I don't know if this could still give an interest to the community or that they will keep on fiat.

If we look at it from the other side, where today, it seems that there are more and more fraudulent attempts under the guise of crypto. It seems that regulation is indeed necessary, as long as the goal is truly to protect the public

livingfree

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Quote from: jaberwock on November 12, 2021, 01:32:20 PM

Quote from: livingfree on November 12, 2021, 01:17:16 PM

When there's too much intervention of the government it will really affect the decentralization of what cryptos are for.

But can we do something about it? There's none but the same as the government that they adopt, we're also going to adopt what the government will imply to cryptos.

When most crypto people are forming a community then we can face any kind of regulation from government without closing any of the basic characteristics of decentralization. I guess this is what we can do against the regulations of governments. We should not depend on exchanges or any other services where government will be trying to take over the control by mandating KYC.

When we start using everything in decentralized way then government regulations will have no power over this crypto space; but unfortunately crypto people are going for most of the corporate/ centralised services which is reason, governments try to regulate us.

We can still stand on our own.

But, the thing is that we have no option if we're going to have the government and exchanges. There will be those that would be against that idea and there will be those that would love the idea.

Most people have already been used to the centralization despite it counters the purpose of crypto.

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That is one of the obstacles for cryptocurrency so far. the regulations by countries are always here. surrounding.
In some countries, cryptocurrency is still banned and not legalized to transact for whatever activities.
In my country itself, it is legal as a commodity asset, but not as a currency in which used for payment method.
So it may be different for each country reminding the condition of the country itself, the readiness, and also the perspective of the government and most community in the country.
Moreover in my country right now, there is a big issue that is being up about the crypto "halal and haram". I know that it may be still debatable and ambigu.

Quote from: oemar bakrie on November 12, 2021, 03:07:55 PM

and many people are also starting to understand about crypto so that's one way to tighten transactions so that there are no mistakes or losses for those who start using crypto for their assets.

yes, the right thing to start is by understanding at first about cryptocurrency by learning and learning to get nowledge.
Although in fact there are still many newbies that won't learn about crypto, only invest based on hype, this really make the view of crypto by some certain communities still bad because they only think about negative sides and risks of cryptocurrency.

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in my view because of the current economic changes that have caused some countries to start seeing crypto as a new step to change the economy starting to move forward..
and many people are also starting to understand about crypto so that's one way to tighten transactions so that there are no mistakes or losses for those who start using crypto for their assets.

jaberwock

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Quote from: livingfree on November 12, 2021, 01:17:16 PM

When there's too much intervention of the government it will really affect the decentralization of what cryptos are for.

But can we do something about it? There's none but the same as the government that they adopt, we're also going to adopt what the government will imply to cryptos.

When most crypto people are forming a community then we can face any kind of regulation from government without closing any of the basic characteristics of decentralization. I guess this is what we can do against the regulations of governments. We should not depend on exchanges or any other services where government will be trying to take over the control by mandating KYC.

When we start using everything in decentralized way then government regulations will have no power over this crypto space; but unfortunately crypto people are going for most of the corporate/ centralised services which is reason, governments try to regulate us.

livingfree

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Quote from: towi078 on November 11, 2021, 01:35:21 AM

In this context I agree with the purpose of making regulations for crypto, sometimes what worries me is, if the government gets too far involved. So it can undermine the decentralization that is the nature of blockchain technology. What do you think?

That's really where it is heading.

When there's too much intervention of the government it will really affect the decentralization of what cryptos are for.

But can we do something about it? There's none but the same as the government that they adopt, we're also going to adopt what the government will imply to cryptos.

abralzain17

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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.

if we talk about the benefits since the presence of Cryptocurrency, it certainly has great benefits for everyone, especially Crypto users. how not, Crypto users can make payments very easily without having to face to face, then apart from the benefits of using it someone also knows how to use their stored money to be able to invest in Crypto, so that person will benefit from their investment. actually if we study further, the benefits of Cryptocurrency are very large

KaliLinux

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Quote from: towi078 on October 17, 2021, 06:54:29 AM

Regulatory issues for cryptocurrency have actually been around for a long time. In fact, it was several years ago. But it seems, in the past year or so, it has become a serious topic of discussion in several countries. And it seems, some countries will soon implement it. What I personally think is, if true, many countries start implementing regulations for crypto currency, will this change the nature of crypto, namely decentralization to not being fully decentralized? What do your friends think here? Please share, hopefully this can add insight for all of us 😊🙏

I believe it will come off as a good thing considering what we have seen from counties where the government has chosen to accept and regulate the trading of cryptocurrencies and from the experience from my own country where the Government have chosen not to and have gone ahead to even Freeze bank accounts "suspected" of dealing in crypto trade even without proof until the account holder is able to prove that the monies are not from crypto trading. So, Government acceptance/regulations can actually bring some sanity to the system.

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Quote from: Japinat on November 11, 2021, 08:01:10 AM

Quote from: towi078 on November 11, 2021, 01:35:21 AM

Quote from: Quantum907 on October 29, 2021, 02:45:39 AM

Currently crypto is too free to make it easy for anyone to make coins or tokens, unfortunately because it is too easy to make tokens or coins it is widely used for scam projects, strict regulation is needed to ensure that projects are not used for criminal acts.

In this context I agree with the purpose of making regulations for crypto, sometimes what worries me is, if the government gets too far involved. So it can undermine the decentralization that is the nature of blockchain technology. What do you think?

If they get involved they follow a standard that is based on a centralized manner, therefore the decentralization factor that makes crypto popular will be gone because of the regulation. Ask yourself, what do you think is the reason why the crypto market is growing? The simple answer is people see it as an investment rather than a payment system, therefore it really boils down to the fact that a decentralized payment system does not really beat the centralized system because that's not how people see it.

People see opportunities and they just simply grab it, most of them are not really into adoption but more on
investment, we can't measure who are those who favored regulation than those who still wanted to keep things as it is
and what's the value of making everything decentralized.

Money making is how people see the value of this market for now, in regard to regulations it's still on self
opinions and acceptance.

Japinat

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Quote from: towi078 on November 11, 2021, 01:35:21 AM

Quote from: Quantum907 on October 29, 2021, 02:45:39 AM

Currently crypto is too free to make it easy for anyone to make coins or tokens, unfortunately because it is too easy to make tokens or coins it is widely used for scam projects, strict regulation is needed to ensure that projects are not used for criminal acts.

In this context I agree with the purpose of making regulations for crypto, sometimes what worries me is, if the government gets too far involved. So it can undermine the decentralization that is the nature of blockchain technology. What do you think?

If they get involved they follow a standard that is based on a centralized manner, therefore the decentralization factor that makes crypto popular will be gone because of the regulation. Ask yourself, what do you think is the reason why the crypto market is growing? The simple answer is people see it as an investment rather than a payment system, therefore it really boils down to the fact that a decentralized payment system does not really beat the centralized system because that's not how people see it.

towi078

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Quote from: Quantum907 on October 29, 2021, 02:45:39 AM

Currently crypto is too free to make it easy for anyone to make coins or tokens, unfortunately because it is too easy to make tokens or coins it is widely used for scam projects, strict regulation is needed to ensure that projects are not used for criminal acts.

In this context I agree with the purpose of making regulations for crypto, sometimes what worries me is, if the government gets too far involved. So it can undermine the decentralization that is the nature of blockchain technology. What do you think?

Oilacris

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Quote from: dimox on November 10, 2021, 05:36:34 PM

depend how government think, like if they wont take any complicated stuff, just make regulation that dont make it hard for user and system. still work under crypto hand, though they have regulation, just to ensure the game.
there are country implement regulation and thats good for them, and its not steep as it thought.
but sometime regulation make it limit for move, and people still have the other way to maximize their move

Wont believe that they would really be having that complicated kind of reasoning and would rather believe that they do go something on minding about decentralization.

This had been always the main issue on why government doesnt really like crypto in the first place.This isnt something that you could easily
control and you know that government doesnt really like that.

Regulations is inevitable into those platforms who do deal up with crypto but talking it directly then it cant really be possible.

letyouearn

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All these sacred features of crypto are worth nothing nowadays. No real decentralisation, no anonymity, no cheap transcactions (look at ethereum fees), and the speed is really slow sometimes.

dimox

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depend how government think, like if they wont take any complicated stuff, just make regulation that dont make it hard for user and system. still work under crypto hand, though they have regulation, just to ensure the game.
there are country implement regulation and thats good for them, and its not steep as it thought.
but sometime regulation make it limit for move, and people still have the other way to maximize their move

mbakruroh

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Quote from: towi078 on October 17, 2021, 06:54:29 AM

Regulatory issues for cryptocurrency have actually been around for a long time. In fact, it was several years ago. But it seems, in the past year or so, it has become a serious topic of discussion in several countries. And it seems, some countries will soon implement it. What I personally think is, if true, many countries start implementing regulations for crypto currency, will this change the nature of crypto, namely decentralization to not being fully decentralized? What do your friends think here? Please share, hopefully this can add insight for all of us 😊🙏

Currently, there are countries that are trying to enforce regulations on cryptocurrencies. Based on my experience with certain exchanges that cannot be used by foreign nationals. Maybe you know the exchange I mean. Regulations are certain rules of an exchange that are not owned by foreign nationals. For example, the choice of using a telephone number is limited at the time of registration or KYC. However, it will not run normally for all countries, because the pros and cons of these regulations will always occur. But if the regulation runs normally, will crypto die? I don't think so, in fact there will be more and more fans. Nowadays people who are allergic to crypto will start to have the courage to invest.

dbc23

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Quote from: towi078 on October 17, 2021, 06:54:29 AM

Regulatory issues for cryptocurrency have actually been around for a long time. In fact, it was several years ago. But it seems, in the past year or so, it has become a serious topic of discussion in several countries. And it seems, some countries will soon implement it. What I personally think is, if true, many countries start implementing regulations for crypto currency, will this change the nature of crypto, namely decentralization to not being fully decentralized? What do your friends think here? Please share, hopefully this can add insight for all of us 😊🙏

The nature of crypto cannot be altered the only the only effect this regulatory agencies would have will only reflect on exchanges. It's obvious why most countries are fighting against cryptocurrency adoption is because the can't gain a complete control of its flow and so the try to discourage it's useage. But in as much as there are custodial and non custodial wallets it's upto the user to remain decentralized , partially decentralized or centralized

isaac_clarke22

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Quote from: the ghabbar on November 09, 2021, 03:26:23 PM

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I am having a bit of a hard time trying to grasp what you are saying, but if you are referring to the problems that might happen if cryptos are to be regulated then you shouldn't....unless you purely depend on custodial wallets where your cryptos are being stored.
Surely if cryptos get regulated which is likely to get taxed, then slowly people would go to the point where personal or p2p transaction would be the best thing to do when trading or selling their coins to avoid these.

the ghabbar

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Quote from: towi078 on October 17, 2021, 06:54:29 AM

Regulatory issues for cryptocurrency have actually been around for a long time. In fact, it was several years ago. But it seems, in the past year or so, it has become a serious topic of discussion in several countries. And it seems, some countries will soon implement it. What I personally think is, if true, many countries start implementing regulations for crypto currency, will this change the nature of crypto, namely decentralization to not being fully decentralized? What do your friends think here? Please share, hopefully this can add insight for all of us 😊🙏

There are good and bad values if cryptocurrencies start to be regulated, this will affect different regulations in each country, currently cryptocurrencies are in their own regulation without being restrained and limited by any country, for decentralization problems it really depends on the type of regulation and usually this will be different for each country that makes regulations, the problem is how cryptocurrencies will survive if many regulations start to be applied by different countries?

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Quote from: towi078 on October 17, 2021, 06:54:29 AM

Regulatory issues for cryptocurrency have actually been around for a long time. In fact, it was several years ago. But it seems, in the past year or so, it has become a serious topic of discussion in several countries. And it seems, some countries will soon implement it. What I personally think is, if true, many countries start implementing regulations for crypto currency, will this change the nature of crypto, namely decentralization to not being fully decentralized? What do your friends think here? Please share, hopefully this can add insight for all of us 😊🙏

In my opinion this is a possible certainty, because I believe it is a necessary step! However, Once the economy started accepting cryptocurrencies, as they are, many countries that are publicly involved in crypto have adopted laws and restrictions at times. But believe that most countries with an interest in crypto will surely comply, as they will lose a large amount of money if it allows crypto to continue trading under surveillance.

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Quote from: shawon01 on November 09, 2021, 03:03:47 AM

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

but the question is about regulating it and do you possibly thinking it would happen? while i try to believe yet regulating crypto will only weaken the capacity of each country to deal in what is best for their people.
nowadays the world is looking positive towards crypto specially bitcoin and regulating this is not necessary instead the people who use it must be in their radar and not the coin itself.

Topic: Regulations for crypto currencies - page 3. (Read 933 times)