There is more to the regulation's aim - page 2.

MarjorieZimmermanGinger

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Quote from: Z390 on March 19, 2023, 04:11:13 AM

I don't know if anyone is thinking the same thing, Banks are collapsing and they want to regulate crypto? How is this going to be possible? How can a corrupt system brings a transparent regulation to the crypto space? I think that this regulation is a FAD, the aim behind this regulation is not about saving mankind from crypto rug pulls, I think the plan is to squeeze the life out of crypto because of the attention its getting.

If anything needs regulation, it is CENTRALIZED EXCHANGES only.

No one is able to change the rules that have been set by the government, we do not have the authority and power towards the rules that have been set by them.

Some governments have their own pattern of seeing the development of cryptocurrency, that's why there are different regulations set in various countries, in the country where I live crypto is legal for trading on an exchange that already has permission from the government and taxes are regulated by force of law in force in my country and taxes are deducted immediately when making transactions on exchanges.

yhiaali3

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Unfortunately, governments introduced their failure to Crypto through centralized exchanges. Crypto was created in order to get rid of the corrupt and failed banking system, but unfortunately the opposite happened. Governments forced centralized exchanges to submit to their terms and impose these conditions on users through KYC, AML.

Centralized exchanges are very much like banks, the collapse of banks will eventually lead to the collapse of centralized exchanges.

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Quote from: Z390 on March 19, 2023, 04:11:13 AM

I don't know if anyone is thinking the same thing, Banks are collapsing and they want to regulate crypto?

I don't think that banks are really collapsing. The government in most places plan to reduce the inflation rate and they are now understanding the economy theory that too much money in circulation can push up the rate of inflation, therefore printing of money with impunity like before is now avoided. Government are almost thinking alike and having same focus at a particular dispensation. This can also explain the role of cbdc .

Quote from: Z390 on March 19, 2023, 04:11:13 AM

How is this going to be possible?

No

Quote from: Z390 on March 19, 2023, 04:11:13 AM

How can a corrupt system brings a transparent regulation to the crypto space?

Something to ponder over. Government is corrupt but blockchain isn't. It looks to say darkness trying to have its way over the light. Cryptocurrency exposes the illicit activities to the public, it is the freedom the world deserve going through the places like lightening and can't be regulated .

Quote from: Z390 on March 19, 2023, 04:11:13 AM

If anything needs regulation, it is CENTRALIZED EXCHANGES only.

This is already happening through KYC.

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Quote from: Z390 on March 19, 2023, 04:11:13 AM

I don't know if anyone is thinking the same thing, Banks are collapsing and they want to regulate crypto? How is this going to be possible? How can a corrupt system brings a transparent regulation to the crypto space? I think that this regulation is a FAD, the aim behind this regulation is not about saving mankind from crypto rug pulls, I think the plan is to squeeze the life out of crypto because of the attention its getting.

If anything needs regulation, it is CENTRALIZED EXCHANGES only.

Centralized exchanges on the other hand don't even need regular as long as it is crypto related and on thing I know is that crypto and Bitcoin can't be regulated and if it could, the government would have monopolized the whole crypto industry and milk the hell out of it but they couldn't and wouldn't not in any recent times and that's why they had to put some restrictions on its usage and acceptance as that's the most they can do about crypto regulations.

We've gotten a whole lot of warnings against the use of centralized exchanges that's because it seems to be controlled by a group of persons and nothing is actually certain in the crypto industry and just in the case with Luna and FTX I think people should have learnt their lessons by now that nothing is guaranteed in industry and we're all responsible for every action we take.

so98nn

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That’s funny because if they were not able handle the systems which were being run by their own self control then they are already done with it and failed at it. How could such people or organisations can work on decentralised system and make sure they will run it properly? That’s definitely sarcastic and it’s not going to happen real soon. Replacing a centralised system mindset with the decentralised is not gonna happen so quickly. If they ever think of doing it then it’s gonna be long process and could take decades of Timeline. There is whole world in it when we talk about financial system. That’s where everything revolves around.

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Quote from: bittraffic on March 21, 2023, 12:13:53 PM

Quote from: tabas on March 21, 2023, 11:55:43 AM

Yeah, it's not the entire market that needs regulations but those centralized exchanges and services that can be said to be at their control. These banking system are nowhere to go and that's why they're looking for ways to bail out and to tell people that they're doing good even if it's visible in our naked eyes on what's actually is happening on them. Together with the government, they're helping each other trying to regulate crypto but in reality, they should be the one that must be monitored because of the scenarios and events that has shown to the world on how corrupt they are.

We have been waiting for regulations for a long time, and until today there is none. Generally, people who like to invest will not touch something that is not regulated because who knows that by the next few days, BTC could be banned. I suppose it's the fear by the many investors in the US who had so much trust in thier SEC that also wants to keep crypto dead.

While they are introducing FEDnow also, I guess the goal will also be to make FEDcoin look better than BTC.

That's right. If it's for us, we know what we like and that's why regulation must also be regulated. But long time ago and before all of these issues, we wanted the government intervention at least. Because we know that it will drive the price of bitcoin which is really true and became a reality. But then, we saw how it's making things not really interesting anymore and with all of the banking collapses. Then, they should look for some other things to be regulated first and take that action before intervening with the crypto market because it doesn't sound good that the regulated ones are collapsing while they're wanting to take action for the unregulated and decentralized market that's doing good. Anyway, it's all where the money is going and they know that it's in here, on this market, bitcoin and the entirety of crypto market.

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Quote from: joniboini on March 21, 2023, 05:12:37 AM

True, some even went as far as changing the law to make sure a bank can buy their competitor's stocks. If they can do it without any repercussions, then other regulations don't really mean much since they can just change it anyway. Even if crypto is fully regulated later on, I won't be surprised if they can change the law as long as it suits their purpose.

Their regulations never meant much and their policies are mostly not effective, we would be taking several steps backwards if banks are allowed to regulate Bitcoin in any way.

They would definitely change how it works, more control for them and it would no longer be a P2P transaction protocol, everything would have to be approves first.

- Jay -

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Quote from: tabas on March 21, 2023, 11:55:43 AM

Quote from: Z390 on March 19, 2023, 04:11:13 AM

I don't know if anyone is thinking the same thing, Banks are collapsing and they want to regulate crypto? How is this going to be possible? How can a corrupt system brings a transparent regulation to the crypto space? I think that this regulation is a FAD, the aim behind this regulation is not about saving mankind from crypto rug pulls, I think the plan is to squeeze the life out of crypto because of the attention its getting.

If anything needs regulation, it is CENTRALIZED EXCHANGES only.

Yeah, it's not the entire market that needs regulations but those centralized exchanges and services that can be said to be at their control. These banking system are nowhere to go and that's why they're looking for ways to bail out and to tell people that they're doing good even if it's visible in our naked eyes on what's actually is happening on them. Together with the government, they're helping each other trying to regulate crypto but in reality, they should be the one that must be monitored because of the scenarios and events that has shown to the world on how corrupt they are.

We have been waiting for regulations for a long time, and until today there is none. Generally, people who like to invest will not touch something that is not regulated because who knows that by the next few days, BTC could be banned. I suppose it's the fear by the many investors in the US who had so much trust in thier SEC that also wants to keep crypto dead.

While they are introducing FEDnow also, I guess the goal will also be to make FEDcoin look better than BTC.

tabas

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Quote from: Z390 on March 19, 2023, 04:11:13 AM

I don't know if anyone is thinking the same thing, Banks are collapsing and they want to regulate crypto? How is this going to be possible? How can a corrupt system brings a transparent regulation to the crypto space? I think that this regulation is a FAD, the aim behind this regulation is not about saving mankind from crypto rug pulls, I think the plan is to squeeze the life out of crypto because of the attention its getting.

If anything needs regulation, it is CENTRALIZED EXCHANGES only.

Yeah, it's not the entire market that needs regulations but those centralized exchanges and services that can be said to be at their control. These banking system are nowhere to go and that's why they're looking for ways to bail out and to tell people that they're doing good even if it's visible in our naked eyes on what's actually is happening on them. Together with the government, they're helping each other trying to regulate crypto but in reality, they should be the one that must be monitored because of the scenarios and events that has shown to the world on how corrupt they are.

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Quote from: Davidjame on March 21, 2023, 05:34:20 AM

Quote from: Z390 on March 19, 2023, 04:11:13 AM

If anything needs regulation, it is CENTRALIZED EXCHANGES only.

Governments will try to regulate things at their reachable hands and capability. They will not restrict their regulations to anything like centralized exchanges.

Do you think decentralized exchanges can be safe from governmental regulations?

If founders, co-founders, developers of a decentralized exchanges are known by governments, I believe authority staffs will knock their doors to bring them to court if necessary.

How decentralized exchanges are regulated

Such projects have stupid team members, the only way to fully become decentralized is to turn into a ghost, no one should know about your identity, not even the investors, this is why Bitcoin remained the only true decentralized project, the founder is nowhere to be found, this is what keep Bitcoin alive, if not, wrong allegations would have been made and arrest warrant would have been issued. Bitcoin founder is smart, he knew there is the possibility that the government will come after him.

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Quote from: Z390 on March 19, 2023, 04:11:13 AM

If anything needs regulation, it is CENTRALIZED EXCHANGES only.

Governments will try to regulate things at their reachable hands and capability. They will not restrict their regulations to anything like centralized exchanges.

Do you think decentralized exchanges can be safe from governmental regulations?

If founders, co-founders, developers of a decentralized exchanges are known by governments, I believe authority staffs will knock their doors to bring them to court if necessary.

How decentralized exchanges are regulated

Doan9269

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Quote from: Z390 on March 19, 2023, 04:11:13 AM

I don't know if anyone is thinking the same thing, Banks are collapsing and they want to regulate crypto? How is this going to be possible? How can a corrupt system brings a transparent regulation to the crypto space? I think that this regulation is a FAD, the aim behind this regulation is not about saving mankind from crypto rug pulls, I think the plan is to squeeze the life out of crypto because of the attention its getting.

If anything needs regulation, it is CENTRALIZED EXCHANGES only.

Do you actually get bothered about their regulations plan, this is clear to us that they have their personal interest in doing this which cannot work in line with bitcoin protocols on the blockchain, so it is purely directed to all centralized exchanges and currencies, there's no how they can be vade the attempts from government interference since they are centralized in nature, government cannot regulate bitcoin abd they know themselves.

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Quote from: Hamza2424 on March 20, 2023, 12:17:19 PM

I do support them because with this the illegal outflow of the money in risk investment market can be directly minimized and governments can even track the user in entries and out entries as I will not care about it because i am not doing anything wrong in the open space. Yes, I consider my privacy a violation but when it will be regulated and in the hands of everyone then there will be alternatives to that too.

This would require you to trust the government. Personally, I don't really trust them because the people on top probably don't care about us either. Just take a look at the recent bank run and how they handled it, retail is the one who got screwed in the end. While it is inevitable, having the option to not use a centralized exchange is still a welcomed one to me, so that's that. At the very least, they don't force us to use one or two exchanges to monitor everything. If that does happen though, P2P is probably the only choice for me.

Quote from: un_rank on March 20, 2023, 12:28:39 PM

Their entire financial system is broken so why would a superior system rely on their regulation.

True, some even went as far as changing the law to make sure a bank can buy their competitor's stocks. If they can do it without any repercussions, then other regulations don't really mean much since they can just change it anyway. Even if crypto is fully regulated later on, I won't be surprised if they can change the law as long as it suits their purpose.

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Quote from: Hamza2424 on March 20, 2023, 12:17:19 PM

For the centralized exchanges and their regulations, I do support them because with this the illegal outflow of the money in risk investment market can be directly minimized and governments can even track the user in entries and out entries
...

Illegal money flows through banks everyday and are even propagated by the banks themselves. Centralized exchanges does not minimize illegal transactions.
I certainly do not want the government tracking my inputs and outputs, that is why I use a decentralized currency.

Quote from: Hamza2424 on March 20, 2023, 12:17:19 PM

...
I will not care about it because i am not doing anything wrong in the open space. Yes, I consider my privacy a violation but when it will be regulated and in the hands of everyone then there will be alternatives to that too.

Not wanting the authorities in your business does not mean the person is doing anything wrong. Their entire financial system is broken so why would a superior system rely on their regulation.

- Jay -

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Quote from: Z390 on March 19, 2023, 04:11:13 AM

If anything needs regulation, it is CENTRALIZED EXCHANGES only.

Agreed, Centralized Exchanges play a significant role in the local domain in crypto adoption as I can't use Bitcoin only here because exchanges promote their own coins and other projects but in the end, everyone realizes what the best for them and why. For the centralized exchanges and their regulations, I do support them because with this the illegal outflow of the money in risk investment market can be directly minimized and governments can even track the user in entries and out entries as I will not care about it because i am not doing anything wrong in the open space. Yes, I consider my privacy a violation but when it will be regulated and in the hands of everyone then there will be alternatives to that too.

I do support in my final words the regulation of Centralized exchanges but not the way how India did in back 2022 Q3 haha.

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Quote from: Z390 on March 19, 2023, 04:11:13 AM

I don't know if anyone is thinking the same thing, Banks are collapsing and they want to regulate crypto? How is this going to be possible? How can a corrupt system brings a transparent regulation to the crypto space? I think that this regulation is a FAD, the aim behind this regulation is not about saving mankind from crypto rug pulls, I think the plan is to squeeze the life out of crypto because of the attention its getting.

If anything needs regulation, it is CENTRALIZED EXCHANGES only.

Something that needs to be regulated is exchanges are not crypto or bitcoin specifically and there is no reason for them to regulate bitcoin as it is decentralized.

They can give any reasons behind the regulations they make, the transparency they mean is their efforts to profit from taxes and one of the things they have to do is implement regulations and if they can it has been regulated a long time ago, but in fact until now they have not find a workable format. Want to be forced however bitcoin can never be regulated and for exchanges, some countries have made regulations for the process of its journey, so that there is legalization of some crypto as commodity assets that have been given permission to trade.

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Well, there are many things to consider in something like this because they want to benefit themselves. Having crypto in which every transaction is verifiable, they can't bear how much they have to be to hide. Maybe they want it all for themselves or nothing else. As long as people are willing to use crypto negatively, there will be people who will fight to have reasonable regulations.

It would be best to consider that it's not the "only one" reason to have regulation but much more.

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Quote from: Z390 on March 19, 2023, 04:11:13 AM

I don't know if anyone is thinking the same thing, Banks are collapsing and they want to regulate crypto? How is this going to be possible? How can a corrupt system brings a transparent regulation to the crypto space? I think that this regulation is a FAD, the aim behind this regulation is not about saving mankind from crypto rug pulls, I think the plan is to squeeze the life out of crypto because of the attention its getting.

If anything needs regulation, it is CENTRALIZED EXCHANGES only.

I don't think about it now even though there are banks that have collapsed, because crypto cannot be regulated like a bank whose system was deliberately set up to be regulated by state regulations. Yes, a centralized exchange can indeed be regulated because some of the local exchange parties do operate more securely after paying taxes to the state. So I don't think that it is being regulated by certain parties now because it is indeed not suitable for a corrupt system to be implemented into crypto.

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Quote from: Z390 on March 19, 2023, 04:11:13 AM

How can a corrupt system brings a transparent regulation to the crypto space?

It cannot and does not plan to. The aim of regulation is to be able to control the crypto space as the banks have done with other financial systems.

Quote from: Z390 on March 19, 2023, 04:11:13 AM

I think that this regulation is a FAD, the aim behind this regulation is not about saving mankind from crypto rug pulls, I think the plan is to squeeze the life out of crypto because of the attention its getting.

Same with the save the planet narrative used to attack Bitcoin mining. It's all a means to gain more control over Bitcoin and cryptocurrencies.

Quote from: Z390 on March 19, 2023, 04:11:13 AM

If anything needs regulation, it is CENTRALIZED EXCHANGES only.

Centralized exchanges are regulated by default and have to comply with the KYC and AML rules of the authorities.

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In the end you can't change the government's decision isn't? since you have no power to speak up, even though you can speak up, you will become a target from the government since you're high risk to ruin their goal.

The plan to regulate crypto is to earn more money from crypto taxation, combating against of money laundering, to control the crypto doesn't beat their CBDC etc. When you're think the government's law is too ridiculous, you have a way to use Bitcoin behind them.

Topic: There is more to the regulation's aim - page 2. (Read 372 times)