Regulations for crypto currencies - page 6.

Almasani

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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 😊🙏

Of course, regulations have been implemented with the implementation of the KYC system on the stock exchange, so that the government's control over finances has occurred, although not completely. Maybe right now only decentralized platforms are still running freely without the need for KYC. But decentralized platforms cannot make money withdrawals to conventional banks. This means that even though we can take advantage of a decentralized platform when trading, the ending we still need a centralized platform.

RealMalatesta

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Quote from: crzy on October 25, 2021, 09:50:20 AM

Every country have their own regulations with regards to dealing with cryptocurrency and yes, this has been a topic since then but until now very few understand cryptocurrency and they show a full support with regards to this though most of the country are still neutral and didn't have any regulations at all. For me, we are still far from the mass adoption, we are getting there but still far from reality. If more country regulate cryptocurrency and make this legal, then it will bring a huge impact in the whole market and good prices will start to happen.

My nation basically fits the description, we didn't actually have a law for it for years and people started exchanges when there was nothing and that really worked amazingly as well, it was really something that I liked and I used that situation to make a lot of crypto profit as well because there was no law. I didn't even pay taxes for a while because there was no taxes for the crypto profits and that was a great situation to be in.

Right now, we have supportive laws and it does require me to pay taxes and that is something that I can be fine with, as long as they support it then there is nothing with it, taxes are the reality of the crypto world and all of the business world. If you are making a profit then you are going to pay a tax and that's fine, as long as they support it and suggest that there is nothing wrong with it then I am fine with it.

Viscore

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Quote from: GeorgeJohn on October 25, 2021, 12:36:03 PM

Actually many countries is regulating cryptocurrencies on their own point of view and even introducing their own coin, so i know vividly that since the existence of cryptocurrency and it's adoption is not all the countries across the world usually transact with bitcoin as exchange, so therefore i denote that not many of them like decentralized currency, they only look forward for anything centralized which is affecting some them of today, actually if an every country regulates and adopt the uses of cryptocurrency especially bitcoin, it will not have it's potential values again, so is better we further ahead with it like that.

From my perspective, some countries regulates crypto right now, but they are not full recommend or legalize it to the people, and with the same vein, restrictions are also implemented, so what is the need of regulations since the users is still living in fear because of government authority towards crypto. I think best option is to run your crypto stuff's in silent without anyone awareness.

Bitcoin has even become more complicated as the years go by because of the interruption of negative criticisms coming from the government. As long as they are just one sided, then the government will not be good for crypto as for now. They are making regulations for crypto and at the same time strict restrictions for crypto. So how do we expect people will react on it?

But since crypto aims for massive adoption, then it will not be fully legalized if its not being regulated in the first place. Regulations will make crypto more legal so that people will not hesitate to invest in it or use it as a currency knowing it is fully backed by the government. Because it is the government that control its citizens and if citizens will see to it that crypto is already approved by the government, eventually people will flock to crypto once they find it more interesting than fiat.

Teknisi88

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Regulations seek to provide consumer protection in the use of increasingly popular blockchain technology. Blockchain itself offers new technology in digital data storage.
More and more that agree to digital currencies means Bitcoin is increasingly accepted in various circles. Now it's time to keep up with the times in terms of this currency. This technology can be a part of the derivative of the global financial system, because it is indeed efficient and regulated by decentralized through peer to peer technology.
Regulations seek to provide consumer protection in the use of increasingly popular blockchain technology. Blockchain itself offers new technology in digital data storage.

GeorgeJohn

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Actually many countries is regulating cryptocurrencies on their own point of view and even introducing their own coin, so i know vividly that since the existence of cryptocurrency and it's adoption is not all the countries across the world usually transact with bitcoin as exchange, so therefore i denote that not many of them like decentralized currency, they only look forward for anything centralized which is affecting some them of today, actually if an every country regulates and adopt the uses of cryptocurrency especially bitcoin, it will not have it's potential values again, so is better we further ahead with it like that.

From my perspective, some countries regulates crypto right now, but they are not full recommend or legalize it to the people, and with the same vein, restrictions are also implemented, so what is the need of regulations since the users is still living in fear because of government authority towards crypto. I think best option is to run your crypto stuff's in silent without anyone awareness.

isaac_clarke22

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

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Asking for that would just defeat the purpose of some coins especially Bitcoin. People did not invest to some coins just because of the returns, but because there is no authorities involved and I hope you realize that fully.
I do not fully support this idea, and yes it will obviously change "the nature of crypto" for sure and that is a bad news for us. The only good thing it would give for sure is freedom of people to use, but are you sure that it is the "freedom" that we are asking in cryptocurrency?

Doell

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Quote from: marilynmanson21 on October 25, 2021, 10:05:38 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

tax are actually good for growing the country's economy but on the other hand our income will also decrease even only a little ,in my country there is new news that there will be a crypto tax of 0.03% which will continue to be reviewed by the government ,I personally no problem for welcome legality and with this tax I become more confident because maybe in terms of price and adoption it will be better

kopijos

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regulation does not have a major effect on crypto. because every country has different regulations. so even though in the future every country has regulations but for crypto it will still have a good position and and transactions will run well without any obstacles

marilynmanson21

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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

crzy

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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 😊🙏

Every country have their own regulations with regards to dealing with cryptocurrency and yes, this has been a topic since then but until now very few understand cryptocurrency and they show a full support with regards to this though most of the country are still neutral and didn't have any regulations at all. For me, we are still far from the mass adoption, we are getting there but still far from reality. If more country regulate cryptocurrency and make this legal, then it will bring a huge impact in the whole market and good prices will start to happen.

towi078

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Quote from: WalkerIVIV on October 17, 2021, 09:31:52 AM

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

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 😊🙏

Regulation will be implemented when it comes to the centralized exchange site. All of blockchain projects didn't have problem with the regulation. The regulation was only targetting the gateway for the funds to go in and out. The fact that blockchain was still decentralized. if you didn't wanna deal witht he regulation that will be implemented in exchange site and how can you trade crypto safely? regulation and decentralization can co-exist. Just because cex was getting regulated and it doesn't mean the decentralization of blockchain will be robbed by the regulation. that's a non sense thing to happen.
If you wanna go to the private or side chain and it will be centralized. Did you know what mean of decentralized in the crypto? It was running by thousands of nodes in the world to create a network.

That means, there is no need to worry excessively about existing and future regulations. Because no matter how strict the regulations are, they will not be able to change the nature of crypto? Looks like I'm overreacting to crypto regulations, huh... 🤔🤭

towi078

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Quote from: Ararbermas on October 17, 2021, 08:23:46 AM

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 😊🙏

well there will be a good improvement of crypto if in the future the adoption of crypto will increase more, indeed that's how it always work wherein because of adoption.. And it will become so expensive for sure like what governments trying to do with crypto so that they can stop people from buying crypto. Lol i don't think its possible since crypto space is like a roller-coaster. But yeah mate keep holding if you have cryptos in your wallet because you can get a good return from it in the end of the day because crypto market is really improving every year because of such reasons..

In this context, I totally agree with you. And yes, I will always hold on tight to my coins, because I believe, they will be of great value in the future. Sometimes what worries me is that some countries are overreacting to crypto regulations, or I am overreacting. who knows... 🙁

kryptqnick

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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 don't see the connection between regulations and losing decentralization. Regulations don't mean that a country is suddenly in control of the price, circulating supply, total supply or even mining. So decentralization remains as it used to be. However, depending on the regulations, some anonymity can be lost in the process. For instance, if mandatory KYC and/or custodial wallets are introduced, it's a major inconvenience, and while it doesn't change the nature of cryptos because it's still hypothetically possible to use an Electrum wallet and provide no ID, it can lead to many people having their IDs linked to their wallets, and the state having way more oversight and information about crypto users because of this.

Bikan

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Definitely yes, I believe it is a neccessry step! However, Once economies began receiving crypto currencies, just like the existing ones ,the lot of nations that have publicly engaged in crypto have already adopted legislation and restrictions sometimes. But believe that the majority of countries with an interest in crypto will undoubtedly comply, as they will forfeit a significant amount of money if she permit crypto to continue trading under supervision. Restrictions, just like any other business where there is no law, there would be no sin.
Yes, restrictions would definitely keep cryptocurrencies safer and secure since users would be protected from potential fraudsters.

towi078

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Quote from: aprilnot on October 17, 2021, 07:39:02 AM

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 😊🙏

if it's good and speed up adoption i have no problem with this. regulation is like a double edged knife. On the one hand, this is good because crypto is recognized and considered legal. on the other hand, regulation makes the decentralized nature of crypto fade away. Strict scrutiny from regulators makes crypto seem to lose something that is most important. but if we want to make crypto a global currency, we need regulation for all of it. so it's like a dilemma for us right now.

You are absolutely right, this will be a dilemma. But it seems that we will get many positive sides, namely more investors who enter, because of the regulation

RussianEnglishTranslation

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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 😊🙏

If you trade on decentralized exchanges run on smart contracts like Spookyswap, Pancakeswap and Ref Finance there is no way for them to stop you.

towi078

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Quote from: blockman on October 17, 2021, 07:30:11 AM

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 😊🙏

It will change the actual scene and we have to embrace the government's ruling towards crypto. We can't do something with that, they're also adopting.
But the thing is that they're the ones that dictate what should we do and what's a must and what we shouldn't do. At some point, it's also going to help the market itself because there's the support of the government and this give peace and worry-free to the new investors that are still in doubt.

So basically whatever the conditions are, on the other hand it will give us an advantage over the involvement of the government. Because new investors will have more confidence in the regulation, maybe it's like that, right?

kang_kung

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I think we might have a temporary setback as more countries start implementing regulations for cryptocurrency since there will be rules to follow, investors have to pay tax, privacy coins are banned,... But after that, cryptocurrency will come more stronger than it was.

bonyaserg

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Personally, I think that rules should be mandatory. Since everything must be in order. If there is order in the cryptoindustry, then everyone will earn according to the rules of cryptocurrencies. And the rules should be the same for everyone, since the cryptoindustry around the world is recognized as a very promising development of new technologies.

Blowon

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Cryptocurrency regulation also always has an impact on prices, when the regulation is prohibited then the price will drop drastically, and vice versa. For that reason, this is too important to note if there is news related to regulations. We need to take immediate action.

Topic: Regulations for crypto currencies - page 6. (Read 933 times)