We enter a new era of heavy regulations - page 2.

batang_bitcoin

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Quote from: clorasteinberg on October 19, 2021, 01:40:57 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.

The fact is that bitcoin won't be gone and it's here to stay. Not forever but it's good to stay and can last longer than we are thinking unlike the other projects that after their success, they're no longer improving and the attention that they've taken is not the same the way bitcoin is getting year after year.

Quote from: clorasteinberg on October 19, 2021, 01:40:57 AM

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.

AFAIK, in some states in the US, they've allowed tax payers to pay their taxes with bitcoin so it has happened already.

clorasteinberg

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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.

BIT-BENDER

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Quote from: chek2fire on October 13, 2021, 01:54:46 PM

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

Yes it will be more adoption for P2P because of the strong hold of regulations, binance users for example has been lamenting the sudden regulations by the exchange which some loses has fallen on the users of the exchange this past months.
Asides exchange regulations, countries government regulations has also caused a slide into p2p, for example the regulation by my country -Nigeria- has caused nigerian to use P2P exchange more since then, increasing the rise of crypto-currency vendors.

7788bitcoin

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Quote from: taufik123 on October 17, 2021, 11:35:28 AM

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The new regulations that are getting stricter are indeed aimed at companies engaged in crypto, which manage crypto assets. Currently, major exchanges have enforced mandatory KYC to find out who the crypto holder is, so that adherents of high privacy levels will be a little disturbed.
Global exchanges must follow the latest regulations provided in order to operate smoothly.
regulation is evolving, but crypto will still be a decentralized asset and will not be a fully centralized asset (even though the government is trying to regulate everything).

The privacy aspect is gone once all the exchanges enforces mandatory KYC and the only problem i have is that i believe there will be a time when these exchanges will not allow to deposit coins that are mixed using a tumbler and we might see those development as well. Even now majority of the casinos are flagging you for using tumblers and all the major exchanges are enforcing KYC and i was asked to comply with them to continue trading with them and i am sure everyone got that mail from them.

syedakhlaque

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The initial stage of the Bitcoin problems & issues has gone. Now we have entered an era where there is a strong KYC, The frame of its rules and regulation is going on. The banks are going to attach with cryptocurrency.
The different countries of the world are stepping forward for its legalization. Some countries have already legalized it. someone is designing the framework of rules and regulations to legalize it. Some are thinking about it . In short, Something is going on for good. Its joining is quick and its flow is uncontrolled. This is a journey for the maturity stage.

qwertyup23

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The more businesses that see cryptocurrencies as an opportunity to earn, the more that the government will be putting it under their radar. Though there may be some countries where the government supports the implementation of cryptocurrencies to their payment methods (e.g. El Salvador seeing BTC as legal tender, etc.), it comes with a heavy price of regulations, like you mentioned OP.

I think this is one of its natural effects given the price of BTC in the market. The more its price increases, the more that regulations would be stricter. I just do hope that this will not contribute to its downfall.

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Quote from: taufik123 on October 17, 2021, 11:35:28 AM

Quote from: TelolettOm on October 14, 2021, 06:35:39 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.

The new regulations that are getting stricter are indeed aimed at companies engaged in crypto, which manage crypto assets. Currently, major exchanges have enforced mandatory KYC to find out who the crypto holder is, so that adherents of high privacy levels will be a little disturbed.
Global exchanges must follow the latest regulations provided in order to operate smoothly.
regulation is evolving, but crypto will still be a decentralized asset and will not be a fully centralized asset (even though the government is trying to regulate everything).

I think the newest developments in crypto (DAOs like Defi) are going to make it hard for the governments to regulate anything. And I think that is beautiful. No matter how
hard the government is trying to control us, we and our freedoms will always be out of reach.

I really hope it will stay that way.

taufik123

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Quote from: TelolettOm on October 14, 2021, 06:35:39 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.

The new regulations that are getting stricter are indeed aimed at companies engaged in crypto, which manage crypto assets. Currently, major exchanges have enforced mandatory KYC to find out who the crypto holder is, so that adherents of high privacy levels will be a little disturbed.
Global exchanges must follow the latest regulations provided in order to operate smoothly.
regulation is evolving, but crypto will still be a decentralized asset and will not be a fully centralized asset (even though the government is trying to regulate everything).

electronicash

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Quote from: michellee on October 14, 2021, 04:12:02 AM

Quote from: electronicash on October 13, 2021, 10:54:07 PM

Quote from: Blawpaw on October 13, 2021, 10:26:10 PM

Quote from: chek2fire on October 13, 2021, 01:54:46 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.

Unfortunately, crypto is under the scope of Governments and regulation will soon come. Hopefully, it won't be so harsh that it may stifle industry growth and development. In a way, regulation is good as it will give the user a lot more protection but on the other hand, it will turn into absolute control for the government which was basically the opposite of what Bitcoin was created for. Thing is, the wheels are now turning for too long and have become unstoppable. It came to a point that governments see it as a "can't beat them, better join them" situation.

the government is joining we have seen government officials have coins and a government itself like El Salvador is mining BTC. regulations are good, it makes this market getting mainstream already. we shall see more forex and stocks traders coming into crypto instead than stay. but i don't think government can fully control cryptocurrency but they can handle the choke points of it.

No matter what, the crypto will still grow and yes, I agree that p2p exchanges can grow faster than before because the regulators can not do many things to the exchanges. But we do not know what the government will do related to the growth of the crypto in their country. Maybe every government will re-evaluate its regulations about crypto and add something that can benefit them.

I like the sentence "can't beat them, better join them" because if the government still tries to force what they want on their people, they will face big questioning. And if the government can clear the mess, the worst thing they can get is a big demonstration from their people. It seems every government needs to learn from El Salvador as one of the successful countries accepting bitcoin in their country.

since US hasn't really finalized its bill for crypto, other countries will also have nothing else to base their regulations on. regulating a currency that is borderless is extremely hard that's why it's taking time for them how to approach this. China quit for it.

they'd have to have the CBDC first before they can really make it because it's only the fiat that a government can control so if they have the digital currency adopted already, it could be easier.

TheUltraElite

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Quote from: Ziskinberg on October 14, 2021, 06:23:04 PM

I don't set this possibility aside as surely it comes no matter what the community did. It is eventually the government making their way to control the flow and gives some security to every crypto user, and much more to pursue their goal to prevent the growth of illegal activities that these people are now using digital currencies to hide. This has been the reason why the authorities must govern such stricter rules and we don't have to do against this.

Would you trade on an exchange that makes sure laundered money does not come or out? I would because that allows me to sleep soundly at night knowing that I would not be tracked down to the court in case the chain of transaction links my wallet addresses. The lacking in regulation of projects is an important thing that many crypto users wish to see - all these ICO, DeFi, NFT hype based bandwagons will be put to hold then with only legitimate projects being able to put up their coins and offerings.

Of course the money launderers, will always be anti-regulation while honest traders will be pro-regulation. No doubt here.

Quote from: TelolettOm on October 14, 2021, 06:35:39 PM

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.

Observing the chain analysis to seek out money laundering of coins is not equal to centralization.

Centralization would be a certain body controlling the supply/demand of money. I think you are getting confused about the terms here.

Quote

And even the current global Exchange is also a target for certain state or party regulations.

They have to comply with local government rules. This has been true for several years already.

TelolettOm

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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.

Ziskinberg

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I don't set this possibility aside as surely it comes no matter what the community did. It is eventually the government making their way to control the flow and gives some security to every crypto user, and much more to pursue their goal to prevent the growth of illegal activities that these people are now using digital currencies to hide. This has been the reason why the authorities must govern such stricter rules and we don't have to do against this.

coupable

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Quote from: chek2fire on October 13, 2021, 01:54:46 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.

I would consider all the known P2P exchanges also as regulated companies. If they didn't ask you for your personal info yet, then it's just a matter of time. All your transactions are recorded and can be used against you under several circanstances. Note that binance gives a special example as it's a regulated company while many decentralized and peer to peer apps affiliated with it can still be used for a great community of users.

Quidat

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Quote from: CryptoCraze11 on October 14, 2021, 01:23:37 PM

Quote from: chek2fire on October 13, 2021, 01:54:46 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.

That's something deemed to happen. We the crypto community shouldn't be surprised by that move. In initial days when btc was 1$, 100$ or 1000$ the authorities never took it serious. But the current price has raised eye brows of authorities and they want to take action before it gets late. I am very much sure with time we have some more strict regulations from authorities but BTC will come out stronger with every such move.

Whenever things gets too big which it cant already be hidden on governments eyes then its not surprising that they would really be engaging or trying to make things stirred up and simply make out some involvement.
You could really expect that government will really take involvement on things specially on something which cant be controlled and thats why we are really seeing these things because of that.
Just like on what others had presumed that we would really be having tighter regulations as we do go big on this crypto market.We dont have any choice.

V-t.Ester

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BTC already costs more than 50K per coin and stubbornly assault 60K. Sure governments all over the world became seriously to BTC now. They want to know people who invest in BTC, where they take amounts of money to invest in BTC (as crypto is often used to launder the money), and of course they want to get taxes from traders activities. These are main reasons why governments want to regulate crypto, provide laws and are putting pressure on exchange markets to make mandatory KYC verification for all traders. Governments slowly but successfully cut off the ways of anonymous using crypto.

CryptoCraze11

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Quote from: chek2fire on October 13, 2021, 01:54:46 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.

That's something deemed to happen. We the crypto community shouldn't be surprised by that move. In initial days when btc was 1$, 100$ or 1000$ the authorities never took it serious. But the current price has raised eye brows of authorities and they want to take action before it gets late. I am very much sure with time we have some more strict regulations from authorities but BTC will come out stronger with every such move.

Ararbermas

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There's no key to shutdown crypto so they will make it expensive so that everyone cannot afford to buy?, lol if that happens for sure people will panic buying and when it becomes so expensive people will sell especially those whales, so it will not stay above.. wherein there's always a chance for crypto market to drop below. So for me in my personal opinion i dont think they can sacrifice a massive amount of money in the space just to stop those people who keep buying crypto. It's impossible because obviously it's useless as the market always works like a roller-coaster.. Probably they can make a hype only..

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Quote from: Argoo on October 14, 2021, 08:48:22 AM

Since the cryptocurrency market is still very loosely controlled by the government, there will of course be a tightening of cryptocurrency controls. However, I think most of all it will concern personal identification, so that the owners of the cryptocurrency pay taxes on profits and there is some kind of control over the laundering of dirty money. Governments are unlikely to be capable of more.

Official cryptocurrencies have to stand under the auspices of the government and they have to pay taxes on the profits they make. the government has access to monitor cryptocurrency activities so as not to deceive the public, so it is natural for the government to make strict regulations on cryptocurrency activities.

wissy

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We all learned by now, that every bull run brings with it crypto regulations and bans from many countries. So we can be quite confident, that current antycrypto rally wont stop BTC .rom going up also. It will slow down the rise for sure, but by now its way too much spread out to be stopped.

Argoo

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Since the cryptocurrency market is still very loosely controlled by the government, there will of course be a tightening of cryptocurrency controls. However, I think most of all it will concern personal identification, so that the owners of the cryptocurrency pay taxes on profits and there is some kind of control over the laundering of dirty money. Governments are unlikely to be capable of more.

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