We enter a new era of heavy regulations

Botnake

hero member

Activity: 2856

Merit: 667

Quote from: Kelvinid on October 27, 2021, 05:26:37 PM

Quote from: sana54210 on October 27, 2021, 04:10:54 PM

Quote from: lixer on October 27, 2021, 03:26:25 AM

these are already happening around the world many exchanges currently disabling accounts and few are temporarily banned or sending emails about withdraw your funds or complete your KYC as I already have this issue and my few accounts under temporarily banned situation because they have very strict policy now.

Even Binance is also going very stick with this all in near future we will not able to have any safe heaven for our adventure in this crypto world because day by day regulations are coming for many companies, and they have no choice just accept and banned peoples those don't like this KYC.

In every situation people always find a way out. I don’t know for sure if there’s going to be a time when regulation is going to be too heavy to the extent that people won’t be able to maintain their privacy through making use of cryptocurrency. But, if that should happen in the future, I think there will still be people who would continue making use of peer to peer methods, and there are also decentralized exchanges these days, and there are so many of them that we can find this time around in the cryptocurrency community.

So, maybe when that kind of time comes, this platforms are going to be of help to us. But if not possible, then we'll have to follow whatever the government says we should do, Since we have no other option.

I guess we should have to follow the rules and regulations that they implemented or else, we do against them and the chance is they will seize our crypto, that seems the worst thing to happen. It was expected to have this scenario and in fact, this has been a plan by the government to take control of the use of crypto and make it legalized. However, it takes so many years before it becomes official and that it comes, we have to do nothing but to abide the rules. That seems no problem anyway if they are just fair to all of us.

No, the government won't definitely come to the point that they will be fair to all decentralized crypto traders. This is the reason why we are having heavy regulations by now because the government want us to stop from crypto activities and move into fiat. But as long as bitcoin remains decentralized, then they can't fully trace all our trading activities and its a good thing really so we can continue trading and make profits despite of the market's heavy regulations.

stomachgrowls

hero member

Activity: 3010

Merit: 794

Quote from: seramania on October 26, 2021, 09:03:29 AM

Quote from: Bitstar_coin on October 13, 2021, 01:15:57 PM

And what happens if assuming I refuse to give those info? Will be prevented from trading and my account get blocked or something! If there are no other stiff penalties aside from those, I think I will gladly refuse and find alternative, yeah, I guess this will make p2p more popular among crypto enthusiasts. What a calamity. Roll Eyes

I don't think such regulations are fully enforced worldwide. I see if this is only in some countries. maybe the worst news if the regulation is true, many accounts will be temporarily banned before they complete KYC for transactions

Adoption is on the move government doesnt really like on what they are currently seeing on whats happening specially on a decentralized market which they cant able to control thats why it isnt surprising that they would really be making out some steps.

Good for those people who had lived on a country which are pro crypto and unlucky for those who do reside into those who do prohibit crypto.

Accept this fate because sooner or later we would see more strict regulatory laws which would really be connecting out on crypto market.

Kelvinid

sr. member

Activity: 2828

Merit: 344

win lambo...

Quote from: sana54210 on October 27, 2021, 04:10:54 PM

Quote from: lixer on October 27, 2021, 03:26:25 AM

these are already happening around the world many exchanges currently disabling accounts and few are temporarily banned or sending emails about withdraw your funds or complete your KYC as I already have this issue and my few accounts under temporarily banned situation because they have very strict policy now.

Even Binance is also going very stick with this all in near future we will not able to have any safe heaven for our adventure in this crypto world because day by day regulations are coming for many companies, and they have no choice just accept and banned peoples those don't like this KYC.

In every situation people always find a way out. I don’t know for sure if there’s going to be a time when regulation is going to be too heavy to the extent that people won’t be able to maintain their privacy through making use of cryptocurrency. But, if that should happen in the future, I think there will still be people who would continue making use of peer to peer methods, and there are also decentralized exchanges these days, and there are so many of them that we can find this time around in the cryptocurrency community.

So, maybe when that kind of time comes, this platforms are going to be of help to us. But if not possible, then we'll have to follow whatever the government says we should do, Since we have no other option.

I guess we should have to follow the rules and regulations that they implemented or else, we do against them and the chance is they will seize our crypto, that seems the worst thing to happen. It was expected to have this scenario and in fact, this has been a plan by the government to take control of the use of crypto and make it legalized. However, it takes so many years before it becomes official and that it comes, we have to do nothing but to abide the rules. That seems no problem anyway if they are just fair to all of us.

sana54210

legendary

Activity: 3318

Merit: 1128

Quote from: lixer on October 27, 2021, 03:26:25 AM

these are already happening around the world many exchanges currently disabling accounts and few are temporarily banned or sending emails about withdraw your funds or complete your KYC as I already have this issue and my few accounts under temporarily banned situation because they have very strict policy now.

Even Binance is also going very stick with this all in near future we will not able to have any safe heaven for our adventure in this crypto world because day by day regulations are coming for many companies, and they have no choice just accept and banned peoples those don't like this KYC.

In every situation people always find a way out. I don’t know for sure if there’s going to be a time when regulation is going to be too heavy to the extent that people won’t be able to maintain their privacy through making use of cryptocurrency. But, if that should happen in the future, I think there will still be people who would continue making use of peer to peer methods, and there are also decentralized exchanges these days, and there are so many of them that we can find this time around in the cryptocurrency community.

So, maybe when that kind of time comes, this platforms are going to be of help to us. But if not possible, then we'll have to follow whatever the government says we should do, Since we have no other option.

lixer

hero member

Activity: 2688

Merit: 588

Quote from: seramania on October 26, 2021, 09:03:29 AM

Quote from: Bitstar_coin on October 13, 2021, 01:15:57 PM

And what happens if assuming I refuse to give those info? Will be prevented from trading and my account get blocked or something! If there are no other stiff penalties aside from those, I think I will gladly refuse and find alternative, yeah, I guess this will make p2p more popular among crypto enthusiasts. What a calamity. Roll Eyes

I don't think such regulations are fully enforced worldwide. I see if this is only in some countries. maybe the worst news if the regulation is true, many accounts will be temporarily banned before they complete KYC for transactions

But, these are already happening around the world many exchanges currently disabling accounts and few are temporarily banned or sending emails about withdraw your funds or complete your KYC as I already have this issue and my few accounts under temporarily banned situation because they have very strict policy now.

Even Binance is also going very stick with this all in near future we will not able to have any safe heaven for our adventure in this crypto world because day by day regulations are coming for many companies, and they have no choice just accept and banned peoples those don't like this KYC.

seramania

full member

Activity: 827

Merit: 100

Quote from: Bitstar_coin on October 13, 2021, 01:15:57 PM

And what happens if assuming I refuse to give those info? Will be prevented from trading and my account get blocked or something! If there are no other stiff penalties aside from those, I think I will gladly refuse and find alternative, yeah, I guess this will make p2p more popular among crypto enthusiasts. What a calamity. Roll Eyes

I don't think such regulations are fully enforced worldwide. I see if this is only in some countries. maybe the worst news if the regulation is true, many accounts will be temporarily banned before they complete KYC for transactions

songchunlai

jr. member

Activity: 113

Merit: 1

Taming a fierce horse is better than killing and throwing it away

wiss19

sr. member

Activity: 2296

Merit: 348

Progressives are always going to have this kind of power over centralized exchanges, but not over the exchanges that are decentralized. Though I’ve always worried about how it’s going to be if they should start whitelisting cryptocurrencies and marking orders that are not coming from any registered entity as dirty coins.

This is not the first time I’m seeing a post like this, I once seen a post that talked about this and said that the government has plans to start a new type of regulations that will require every crypto users to always submit their KYC and also submit details about money that they're sending to addresses that are not registered on the centralized platforms to help the government to know who they are sending the cryptocurrency to.

coupable

hero member

Activity: 2338

Merit: 757

Quote from: Questat on October 22, 2021, 03:02:38 PM

It surely has to come even we don't like it. The SEC and the government had never to stop finding a way to give the solution about fraud and money laundering that these people are now using crypto for faster and anonymous transactions. Maybe, this has become the consequence but I'm not going to against this intention as we(users/investors) are also benefiting from this and the purpose of being legalized as a money tender. Whatever the regulations that will impose, I think we have to abide by them and help to promote the use of crypto as it has already gained support from the government.

What i like the most in what op called (new era) , despite its heaviness, that it's a sign about the how much the use of bitcoin gets larger in all communities from the well developped countries to the poorest one. It was expected that governments will take the way of Regulations after several tries to forbid it. In my country, and in less than a month before the parlement set the ordre that the use of bitcoin is not illegal (we can't yet say that it's legal because we need a long set of rules associated with the law) as another irregulated form of money, someone went to jail by a Judicial authority after confirming that he made some bitcoin transactions. This is horrible!
A severe regulation is also anothr step that we have to take before the governments understand well that the blockchain is free from regulations.

dunfida

legendary

Activity: 3122

Merit: 1140

Quote from: Questat on October 22, 2021, 03:02:38 PM

It surely has to come even we don't like it. The SEC and the government had never to stop finding a way to give the solution about fraud and money laundering that these people are now using crypto for faster and anonymous transactions. Maybe, this has become the consequence but I'm not going to against this intention as we(users/investors) are also benefiting from this and the purpose of being legalized as a money tender. Whatever the regulations that will impose, I think we have to abide by them and help to promote the use of crypto as it has already gained support from the government.

There's nothing we can do actually because we do still end up on converting our coins back to fiat which simply means that we would really be ending up on touching ourselves with this centralized platforms.

New era of heavy regulation is something had already been anticipated because sooner or later they would really be finding ways for them to extract out something to those who had been dealing with crypto.

There are no other ways of shutting down crypto itself thats why they do end up on option on tagging up with imposing regulations into those centralized platforms.

Questat

hero member

Activity: 2982

Merit: 610

It surely has to come even we don't like it. The SEC and the government had never to stop finding a way to give the solution about fraud and money laundering that these people are now using crypto for faster and anonymous transactions. Maybe, this has become the consequence but I'm not going to against this intention as we(users/investors) are also benefiting from this and the purpose of being legalized as a money tender. Whatever the regulations that will impose, I think we have to abide by them and help to promote the use of crypto as it has already gained support from the government.

kawetsriyanto

legendary

Activity: 2422

Merit: 1140

duelbits.com

Quote from: chek2fire on October 13, 2021, 12:54:46 PM

I believe that Bitcoin and general crypto indrustry enter an era of heavy regulations.
.....
Maybe this new heavy regulator era will be and a great opportunity for a growth to p2p exchanges.

I also think so, this world has big concerns about the crypto world. many more countries are also paying attention to it.
The regulation may have certain interests and importance behind it.
We know that many exchanges are turning to have more centralized systems and many more things are done by KYC or AML.
Some countries are also concerned to have certain regulations for the crypto world.

Quote from: avikz on October 22, 2021, 12:07:44 PM

Regulation is inevitable! There's no way we can escape it unless we move to a sovereign nation create for cryptos. Few years down the line, we all will have to adhere to certain kyc process if we want to continue using cryptocurrencies in a civil society.

Well, true.
Because however, we are part of a country in which there will be always regulations that manage and control us as citizens. All things in the country must be also done under certain laws and regulations in the country itself.

The good thing is that it is sometimes not strict enough. Although the regulation is everywhere, there is still some chances and also a gap to utilize and avoid this.

avikz

legendary

Activity: 3080

Merit: 1500

Quote from: chek2fire on October 13, 2021, 12:54:46 PM

I believe that Bitcoin and general crypto indrustry enter an era of heavy regulations.

Regulations that will do near impossible for the most ppl to buy, trade or even use Bitcoin.

Today EFF have post an article about this matter

https://thedefiant.io/crypto-endangered-confronting-an-existential-threat/

https://twitter.com/EFF/status/1448023101518671873

Bitsamp already do this and ask from the most of their customers to give them every bitcoin or crypto transaction they have done the last years. Where they buy and where they get them.

Maybe this new heavy regulator era will be and a great opportunity for a growth to p2p exchanges.

Regulation is inevitable! There's no way we can escape it unless we move to a sovereign nation create for cryptos. Few years down the line, we all will have to adhere to certain kyc process if we want to continue using cryptocurrencies in a civil society.

Governments are slowly realizing that they can control bitcoin. China tried to shut down and wreck havoc on bitcoin market several times and failed miserably. So what left is regulation and that's what various governments will impose on us! That is inevitable. Even the p2p marketplaces will have to bow down to such regulations.

syedakhlaque

member

Activity: 416

Merit: 30

Yes, we have entered a new era where the BTC and other cryptocurrencies are going to be legalized. This process is slow but regularly it is stepping forward. In my country Pakistan, last week a resolution was moved in the national assembly to legalize BTC and cryptocurrency and many members of the national assembly favoured this resolution. So we can say that we have entered a new era and BTC is also with us entered in this era where the framework of rules and regulations is going to design.

_Miracle

hero member

Activity: 912

Merit: 661

Do due diligence

Quote from: bitterguy28 on October 21, 2021, 09:26:51 PM

Quote from: _Miracle on October 21, 2021, 08:52:07 PM

Looks like Chipmixer will be useful again. This reminds me of old topics on "dirty and clean coins".

If you want to trade or spend on exchanges then you have to play by their rules---or better put: the rules they are required to play by put on them by whatever regulatory section they fall under.

Peer to peer transactions still happen every day.

Not just Chipmixer because there are many Mixing site also that serves crypto users though some of the big competition are already closed now.

but yes this may add users to those platform because the safer the need here as regulations happening now here and there.

I guess the irony of how dirty paper money is always strikes me (like a gong) when the topic turns to "dirty bitcoins".

bitterguy28

full member

Activity: 2170

Merit: 182

“FRX: Ferocious Alpha”

Quote from: _Miracle on October 21, 2021, 08:52:07 PM

Looks like Chipmixer will be useful again. This reminds me of old topics on "dirty and clean coins".

If you want to trade or spend on exchanges then you have to play by their rules---or better put: the rules they are required to play by put on them by whatever regulatory section they fall under.

Peer to peer transactions still happen every day.

Not just Chipmixer because there are many Mixing site also that serves crypto users though some of the big competition are already closed now.

but yes this may add users to those platform because the safer the need here as regulations happening now here and there.

_Miracle

hero member

Activity: 912

Merit: 661

Do due diligence

Looks like Chipmixer will be useful again. This reminds me of old topics on "dirty and clean coins".

If you want to trade or spend on exchanges then you have to play by their rules---or better put: the rules they are required to play by put on them by whatever regulatory section they fall under.

Peer to peer transactions still happen every day.

TinaK

hero member

Activity: 1106

Merit: 527

Quote from: clorasteinberg on October 19, 2021, 12:40:57 AM

Great thoughts shared by people here, but I agree with @arwin100. Soon there will be a time when the government will put some regulations and rules on trading Bitcoin, but definitely, it is not going to vanish. There are possibilities that you need to pay taxes on your Bitcoin transactions, but if we see the brighter side of it, then soon, we all will be using it as a mode of payment.

Regulated means that there could be a tax upon owning cryptocurrency, so we can't deny the fact that the heavy regulation was here.
I think this is a part of a heavy adoption too, we need to have a heavy regulation first before the massive adoption of crypto. But I don't think if those people who wanted to avoid paying tax can force the government to pay them a tax, you can hide your identity using bitcoin and once it will transfer to an unknown wallet, there is nothing they can do to on it because it belongs to your without knowing them.

Sayeds56

copper member

Activity: 1316

Merit: 715

Eloncoin.org - Mars, here we come!

Quote from: peter0425 on October 19, 2021, 05:11:09 AM

Quote from: TelolettOm on October 14, 2021, 05:35:39 PM

And this is like it can't be denied anymore. The fact that Crypto should be decentralized for a long time fading. It is not at the same time disappearing or being centralized. But the latest regulations are designated for companies related to Crypto.
And even the current global Exchange is also a target for certain state or party regulations.

Let them regulate like what they wanted because in the end it is our desire and action that will save crypto from being abused of this regulator .
they are putting too much pressure just because they wanted to get what they wanted closely.
i don't care what they do because all i care is what I am doing now for my crypto assets.

Quote from: clorasteinberg on October 19, 2021, 12:40:57 AM

Great thoughts shared by people here, but I agree with @arwin100. Soon there will be a time when the government will put some regulations and rules on trading Bitcoin, but definitely, it is not going to vanish. There are possibilities that you need to pay taxes on your Bitcoin transactions, but if we see the brighter side of it, then soon, we all will be using it as a mode of payment.

It is happening now, In our country there are added tight in regulating the transactions , they even ask for when the funds comes from things that hard to prove if we are receiving from campaign payments.

Absolutely right. It will happen in every country sooner or later that crypto will be regulated and it will come under tax umbrella so that Governments can generate revenue from crypto holdings and stop money laundering. It is better for genuine Investors and Trader so that they can freely invest and trade in crypto market and make profit but pay due tax on their income generated though crypto investments as we pay tax on other form of incomes.

peter0425

sr. member

Activity: 2618

Merit: 439

Quote from: TelolettOm on October 14, 2021, 05:35:39 PM

And this is like it can't be denied anymore. The fact that Crypto should be decentralized for a long time fading. It is not at the same time disappearing or being centralized. But the latest regulations are designated for companies related to Crypto.
And even the current global Exchange is also a target for certain state or party regulations.

Let them regulate like what they wanted because in the end it is our desire and action that will save crypto from being abused of this regulator .
they are putting too much pressure just because they wanted to get what they wanted closely.
i don't care what they do because all i care is what I am doing now for my crypto assets.

Quote from: clorasteinberg on October 19, 2021, 12:40:57 AM

Great thoughts shared by people here, but I agree with @arwin100. Soon there will be a time when the government will put some regulations and rules on trading Bitcoin, but definitely, it is not going to vanish. There are possibilities that you need to pay taxes on your Bitcoin transactions, but if we see the brighter side of it, then soon, we all will be using it as a mode of payment.

It is happening now, In our country there are added tight in regulating the transactions , they even ask for when the funds comes from things that hard to prove if we are receiving from campaign payments.

Topic: We enter a new era of heavy regulations (Read 485 times)