Regulations for crypto currencies - page 4.

abralzain17

full member

Activity: 532

Merit: 100

Quote from: towi078 on October 17, 2021, 05:54:29 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 😊🙏

It's true what you said that long ago there have been government regulations governing cryptocurrencies. In Indonesia, for example, many regulations have been issued by the government regarding this matter, you can read about it here: https://www.cnnindonesia.com/ekonomi/20210609135429-97-652158/4-peraturan-bappebti-asset-kripto-di- Indonesia

https://bappebti.go.id/resources/docs/peraturan/sk_kep_kepala_bappebti/sk_kep_kepala_bappebti_2019_02_01_w9i365pf_id.pdf
https://aptika.kominfo.go.id/2021/08/regulasi-akan-lindungi-konsumen-dalam-pemanfaatan-blockchain/
https://www.cnbcindonesia.com/tech/20210122132253-37-218020/resmi-ini-cryptocurrency-yang-diakui-di-ri-termasuk-bitcoin
In my opinion, it has become a serious conversation in several countries in the last year because of the controversy in several major countries in implementing or legalizing Crypto in these countries.

shawon01

member

Activity: 252

Merit: 10

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

towi078

jr. member

Activity: 470

Merit: 1

Quote from: marilynmanson21 on October 25, 2021, 09:05:38 AM

if the regulations made by one country are crypto friendly and do not change the working system, I don't think there is a problem with regulations in each country,
but the name of the government will definitely impose the rules they make so that it can harm crypto users/owners
example: tax

I think the ultimate goal of government regulations is taxes. But what I'm thinking is, is it possible for the government to get too involved in crypto decentralization, so that it will change the decentralized nature of crypto to not fully decentralized?

Valak

full member

Activity: 743

Merit: 110

Although the digital asset investment space is loved by investors who want to make a profit and there are many opportunities to make money. Regulation that overshadows crypto assets and other digital money, it is still not clear which regulatory entity is meant to oversee the crypto market.

darahjuang

member

Activity: 252

Merit: 10

Quote from: towi078 on October 17, 2021, 05:54:29 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 😊🙏

Regulations for the application of cryptocurrencies if carried out by a country will have its own impact on its people. I want to convey the negative impact even though personally I totally agree if it is implemented. I see if crypto implementation is done, it will have an effect on the loss of the value of the original currency.

SirLancelot

hero member

Activity: 2646

Merit: 582

Leading Crypto Sports Betting & Casino Platform

Quote from: FanEagle on November 06, 2021, 01:18:32 PM

There will be no point of regulating cryptocurrencies by removing its all basic characteristics instead of doing like that then government can go for their own digital currency because after removing out all the basic characteristics of cryptocurrencies it will remain like fiats but in digital form.

A regulation from government should be only for preventing cryptocurrencies to be used for money laundering or any other highly potential risk involved activities but definitely they should not work on regulating by removing the basic characteristics of cryptocurrency.

In my opinion, government regulation will not mind about the decentralized nature of cryptocurrency because if it is not there then I am not ready to accept a currency as a cryptocurrency at first hand. Most people are here because the privacy and the financial freedom we could enjoy from cryptocurrencies but when there will be a possibility of such thing not to be existing then there will be no meaning of adapting them.

Argoo

sr. member

Activity: 2352

Merit: 245

Quote from: towi078 on November 01, 2021, 03:36:56 AM

Quote from: fauzan Ichsan on October 17, 2021, 09:14:13 AM

Quote from: Al Qiyamah on October 17, 2021, 08:42:05 AM

As we know that the advantage of cryptocurrencies is that it is decentralized, meaning that it is not centralized or there is no third party intervention. but if cryptocurrencies have been legalized by a government, it is clear that regulations will be enforced, although they cannot change the nature of decentralization itself but other regulations such as being taxed may be applied.

The main factor that will be explored by the government is the tax problem. because this is state revenue to support the development of a nation. somehow the form later, of course this regulation must benefit the state, and of course a clear regulation is needed. it seems that this will be easier, because the government can see every transaction even if it is a small amount

If the goal is just for tax revenue, maybe it's not too worrying. But if I pay attention, it seems that there are some countries that are too excessive in implementing regulations for crypto. Will it not affect crypto in general? What do you think about that?

The regulation of cryptocurrencies by states is inevitable. Cryptocurrency and participants in this market either need to agree to regulation, or not rely on the legal circulation of cryptocurrency in society. It is unlikely that states are able to change the principle of decentralization in cryptocurrency. So far, legalization consists in determining the legal status of cryptocurrency and establishing the order and conditions for its circulation in society. But when determining the order and conditions of its circulation, the states will try to reduce the decentralized foundations of the cryptocurrency and especially to reduce its anonymity. However, another way for crypto distribution

FanEagle

legendary

Activity: 2884

Merit: 1117

Quote from: towi078 on October 17, 2021, 05:54:29 AM

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?

The regulation of cryptocurrencies will be possible without affecting the basic natures of cryptocurrencies. Yeah, I am sure there will be possible regulations in a way without affecting the decentralized nature of cryptocurrencies. We cannot expect the same way how government is regulating corporate and other organisation but they must need to take different stand against the cryptocurrencies so that it will serve its real purposes to the people.

There will be no point of regulating cryptocurrencies by removing its all basic characteristics instead of doing like that then government can go for their own digital currency because after removing out all the basic characteristics of cryptocurrencies it will remain like fiats but in digital form.

Hypnosis00

sr. member

Activity: 2436

Merit: 343

Quote from: towi078 on November 06, 2021, 12:16:59 PM

Quote from: tvplus006 on October 17, 2021, 01:11:06 PM

Quote from: towi078 on October 17, 2021, 05:54:29 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.

towi078

jr. member

Activity: 470

Merit: 1

Quote from: tvplus006 on October 17, 2021, 01:11:06 PM

Quote from: towi078 on October 17, 2021, 05:54:29 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).

towi078

jr. member

Activity: 470

Merit: 1

Quote from: Findingnemo on October 17, 2021, 09:31:59 AM

Quote from: towi078 on October 17, 2021, 05:54:29 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 😊🙏

Decentralization will not change but it will affect the privacy or anonymity so it depends on the individuals who are accepting cryptocurrency for whatever reasons but in general regulating the cryptocurrency is lot better than banning it so more people will start adopting and the cryptocurrency becomes more and more popular.

This means that there will still be a positive side, with the enactment of regulations for crypto. Although later we have to ignore the anonymity side, because doing so, will help accelerate crypto adoption? Maybe like that huh?

matchi2011

sr. member

Activity: 1456

Merit: 267

Buy $BGL before it's too late!

Quote from: iv4n on November 04, 2021, 08:55:58 AM

Quote from: ?? on ??

To me regulating Crypto is not a big deal. Morever, most exchanges demand for kyc before you can transfer funds from their exchange. That is a form of regulation. However, I don't think that Crypto can be fully regulated, because it is digital.

I also think that regulating crypto is not a big deal... I understand people who live in well-arranged countries, where everything is "normal", so there's a good reason to support regulations, but why would I seek from my fucked-up government to regulate crypto?! I am sure they will one day, but that will be only for one reason, to tax it just to make more money for dirty politicians! And don't get me wrong, I am not against taxes, I am against the government taking taxes and not giving almost anything in return!

What more do you expect? Taxation is the first thing the government aimed that's why they are really pushing in
Regulating this market. If there's no money involve here, we won't see their involvement in this industry, but
the fact that there is a huge amount of flowing money they are hiding from the laws that they are using,
they are trying to say that they wanted to protect their people but behind that reason is the tax that they
are calculating to imposed.

iv4n

legendary

Activity: 3248

Merit: 1179

Quote from: ?? on ??

To me regulating Crypto is not a big deal. Morever, most exchanges demand for kyc before you can transfer funds from their exchange. That is a form of regulation. However, I don't think that Crypto can be fully regulated, because it is digital.

I also think that regulating crypto is not a big deal... I understand people who live in well-arranged countries, where everything is "normal", so there's a good reason to support regulations, but why would I seek from my fucked-up government to regulate crypto?! I am sure they will one day, but that will be only for one reason, to tax it just to make more money for dirty politicians! And don't get me wrong, I am not against taxes, I am against the government taking taxes and not giving almost anything in return!

Bonenx14

sr. member

Activity: 1033

Merit: 250

Leading Crypto Sports Betting & Casino Platform

Quote from: ?? on ??

Starting from 2018 there have been countries that have legalized bitcoin as a legal transaction tool, those who know how to use bitcoin make rules according to those applied by the state, with bitcoin regulations in developed countries, other countries will also consider regulating bitcoin too, many people are already playing in cryptocurrencies have even gotten a bigger profit because in cryptocurrencies, transactions are transparent

Try to mention what country it is so that everyone can start looking for information related to it in that country, because the right thing to do always needs to be sought by everyone for profit and security in cryptocurrencies too.

carrigan

member

Activity: 728

Merit: 12

If crypto is allowed to transact in that country, this is a good thing because transactions using crypto feel easier and faster. Many countries have implemented this, but until now Crypto is not affected by anything, what is there is even more known to many people. Its performance is getting better, it can be seen from its development so far. Maybe if crypto is allowed to transact the government will take part in it, they can find ways to keep crypto under surveillance.

royalfestus

hero member

Activity: 2464

Merit: 519

Quote from: Beparanf on October 17, 2021, 06:44:05 AM

Quote from: towi078 on October 17, 2021, 05:54:29 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 😊🙏

Most of the countries that publicly involved in crypto has already implemented regulations since they started accepting crypto currencies. I believe most the Country that will have an interest on crypto will surely follow since they will lose a lot of money if they allow crypto freely trade without any regulation.

Regulations will make crypto more stronger because user will have a protection for a possible abused by scammer.

The idea of cryptocurrency regulations in countries deal with control of money laundering, tax payment and taxing of cryptocurrency profit. This can work if fiat at a point is allowed to engaged and other platform can allow payment without illegalities. sadly, most of the countries do not give cryptocurrency a fair platform to operate even with the regulation. so I just believe the taxing and prevention of crypto illegal dealing is the main regulation if they mean to

cvasy

sr. member

Activity: 520

Merit: 250

KUWA.ai

Quote from: Kodok Bencot on November 04, 2021, 04:00:39 AM

Regulations for crypto must be implemented immediately, currently there are more than 13k coins and tokens officially listed on the market and I'm sure it will continue to grow, regulation is needed to make projects or coins effective so they are not used for scams.

Each team also needs to know the effect of this regulation if it is for good, because if the regulation on coins and tokens can get better, then I think this needs to be studied in depth first so that it is known how the effects will arise later.

Kodok Bencot

full member

Activity: 994

Merit: 101

Regulations for crypto must be implemented immediately, currently there are more than 13k coins and tokens officially listed on the market and I'm sure it will continue to grow, regulation is needed to make projects or coins effective so they are not used for scams.

Naficopa

hero member

Activity: 2002

Merit: 516

Quote from: harizen on November 03, 2021, 04:42:12 PM

We should expect already that 100% decentralized crypto won't be achieved. Remember that more people are relying on centralized exchanges just to feel the benefits of buying and selling cryptos. Without these exchanges, liquidity won't grow. Relying only on the decentralized exchange won't bring an uptrend.

And since most people are seeking help from the government in case of fraud, that's the big reason why they should regulate all crypto exchanges.

The larger the cryptocurrency market cap, the closer to the regulations. For many people, regulations will be a protection, for others it will be inconsistent with the principle of cryptocurrencies. I think that in the end everyone will be able to decide for themselves whether they want to make transactions through decentralized exchanges or through regulated, centralized exchanges.

watergold

sr. member

Activity: 1218

Merit: 251

the adoption of crypto is getting stronger from year to year and indeed things like this will definitely not be unstoppable considering that crypto has now become one of the main accesses for some people to invest or just trade.
on the other hand things like this I don't think will make changes to crypto, they will still have a decentralized nature because it will be very difficult for the government to take control of crypto

Topic: Regulations for crypto currencies - page 4. (Read 960 times)