Topic: We enter a new era of heavy regulations - page 3. (Read 453 times)

and this is what indeed is the real thing now as p2p our only savior in this tightening regulations towards crypto and p2p will save our asses to use and survive.
though KYC will be obliged yet what else can we do but to obey if we want to stay in this field .
well this is still speculative thread so far nothing to be thank best .

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.

With the increasing price of bitcoin, the regulations made more difficult for us as crypto users, but with such regulations they do to maintain security and away from scamers that are currently getting worse, and the regulations made must be in accordance with procedures so as not to make it difficult for us to make transactions, and this will be a great opportunity for the growth of p2p exchanges and this is also a big threat to some users, Because not all bitcoins we get in the same way.

Then you should be frustrated by the fact that despite your honesty, law obedience, your support of global financial surveillance, authorities don't trust you at all, they require you to constantly prove that you are not a dirty criminal. They think you have something to hide, otherwise, they wouldn't require you to report all your transactions. You are guilty until proven innocent. Shouldn't it be exactly the opposite? In my opinion, honest bitcoiners should fight for their rights to financial privacy. If there is no direct evidence that a subject is associated with criminal activities, he must not be forced to share his transactions with anyone.

Such heavy regulations might be the end of big centralized cryptocurrency exchange platforms.
Which isn't bad at all."Be your own bank" might become the new norm and we will be moving towards more peer-to-peer trading and financial transactions in the crypto world.Crypto exchanges were convenient for the average user,but this comes with a cost,like KYC verification,paying fees,the risk of the getting scammed,etc.
I have nothing against "whitelisting" my Bitcoins,since I have never earned any Bitcoins via scams,hacks,trading on the darknet or via other illegal methods.I have nothing to hide.I'm sure that 90% of all Bitcoin users have nothing to hide as well.

Unfortunately one of the strong points of Bitcoin has been it's pseudo anonymity and that is also the weak point that are being exploited by hackers for ransomware payments. We have seen several strategic companies and government agencies being hacked and ransomware being demanded in Bitcoin ...and this is the spark that ignited these actions from the government. ( I will not be surprised if these hacks were government sanctioned ) 

A lot of people said it was the end of Bitcoin, when China banned all Crypto currency mining.... and yet, Bitcoin is still here and growing stronger by the day. 

I would not use the term "industry" here. It is was less to be given that much name. The only coin of importance is bitcoin and that itself is a big thing to take care of. Rest of crypto is based on a lot of hype, though some have been successful.

The wrong thing to say is what you implicate by "heavy regulation". Regulation has not even been started yet. It has been in the talk for several years now.

How so? If you have no intentions of money laundering (no offense) then buying bitcoin with fiat is not a problem for anybody having a exchange running in their country and owning enough fiat at hand to buy. It is not like "buying bitcoin = life sentence" thing. Governments want new development to occur and if that means allowing new exchanges to be set up with the terms that they will regulate the flow, then let them do that. Your concern should only be your spending and investment on crypto.

I suggest you stop reading articles from such sources. But I am sure you will not because your belief in such topics has already been created and me telling you to stop doing that will only reinforce your false belief.

Bitstamp is less popular among users though. And today in most countries were crypto users demographic is formidable, there are new exchanges being set up. If you dont like Bitstamp, move to another exchange.

Of course it will allow them to grow and this is what the community needs. Instead of being anti-regulation, look on the bright side of things. People will be able to spend and trade crypto just like stocks today.

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.

This is commonly referred to as the AML policy which was implemented by many trusted cryptocurrency exchanges and lending platforms several years ago.

My guess is that this new wave of heavy regulations is caused by recent successful attacks carried out by software that encrypts data or performs other malicious activities. Some of these ransomware apps demand sending coins to a specific BTC address. I even heard that a few months ago, a large company in Mexico was forced to pay unknown hackers in Bitcoin to unblock access to their servers. It looks like the government now wants to track these coins, probe deep into transactions and determine who will cash out the "dirty" bitcoins.

I hope that the legislators will not impose too strict and severe regulations that will kill the entire cryptocurrency market.

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.

I'd rather the government enforce KYC against Bitcoin users, rather than the government banning Bitcoin because it considers it illegal. Sometimes
we really have to look at it from the government's point of view, at least the government wants to make sure its citizens are safe while using Bitcoin.
Therefore, the government makes various rules regarding the use of Bitcoin, one of which is by imposing KYC to be able to use local exchanges.
Then regarding the issue of tax enforcement, I actually have no problem with it, as long as the amount of tax that must be paid is reasonable.
In the end we all actually want Bitcoin to be accepted in all countries in the world and become a legal currency, therefore must accept all
the rules imposed by the government.

I believe have their rights to choose whether they want to use p2p since it has its own purpose and I believe it's not connected to rules and regulations somehow. Regulations will keep popping every now and then so people will have to get used to it by now since this is also for our own sake that's why regulators made some regulations.

As long as it doesn't affect the usage of crypto currency then they can do every regulations they want. Come to think of it when there's no regulations that didn't exist and we are in a year 2013 I think you should have grasp the experience of what was happening in the past. More people are using crypto currency in a dirtiest manners especially the dark web people they can spend their dirty money and won't be worried where they got their money/crypto.

Welp, it still didn't prohibit nor limiting most people to buy/trade/use Bitcoin. As your concern as it poses a threat to most of the people and @stompix emphasizing what the regulations could do toward most people. In any way, Bitcoin still is still possible to be used. Not to mention, you stated it only applied to "most active account", right.

Anyway, here is my take, regulations will come, sooner or later. No matter what the consequence, the possibility of Bitcoin being used and traded is limitless, thanks to its decentralized nature. I think we must consider and comprehend that at the underlying level, Bitcoin is at its censorship-resistant and decentralized nature.

This is part of regulation and its expected that those things happen since this is the sign that government is already acknowledging crypto currency then they want people to be atleast safe from frauds by having that KYC things and other what they can do to track the users since they want to know the userbase of bitcoin. Maybe the only disadvantage there is the taxation but for me its totally fine as long as we can see bitcoin standing strong and will be known as legal currency around the world.

At some point, we really have to comply such regulations. Even before, if you cash out your crypto to your local fiat using your local exchange, they are already asking for KYC of their customers. It is now being highlighted as even top crypto-exchanges like binance are asking for compulsory KYC for all its customers. But even with this move, I don't think it will kill the crypto market. People will just find alternatives on how to lessen the exposure of their crypto dealings.

As long as the regulators won't ban crypto, the heavy regulations will not kill cryptocurrency, cryptocurrency will probably kill some industries instead. The FED did said they are not going to ban Bitcoin which I guess started the spike of BTC again.

If users will really want to stay away from regulators, they will not be going to p2p since banks or any other mode of payment like Paypal are part of the regulated platform. They are among those regulators.

This was inevitable. As long as you are using central exchanges like those, you have to go through all these hassles. But the regulations won't make it "near impossible" for people to make to buy, sell or trade crypto currencies. You can always try p2p trading without using a centralized exchange. It's going to be little hard because you have to trust the person you are dealing with. But isn't this how we are supposed to use crypto currencies to keep it decentralized?

We are going to expect this thing as the government will surely find a way to take control of this and having a strict regulation in the use of cryptocurrency could help for them to succeed.

Yeah, we started to feel it now as even exchanges are now asking for KYC because they are also urged by the government otherwise no permits will be released for them.
https://www.pymnts.com/cryptocurrency/2021/crypto-regulation-and-possible-executive-order-show-top-down-approach/

Well, they have the reason for this and I think we have to put this in consideration since it was for the good of everyone and helping to stop any act of money laundering and illegal activities in which these people are using cryptocurrencies.

All these regulations are centred to control the trading flow of Bitcoin. I thought Bitcoin is meant to be traded anonymously in any part of the world. Putting up this type of strict measures of regulations will only hinder the circulation of Bitcoin globally.
This should be the US game plan to destabilize cryptocurrency

Even on our local wallet provider which the regulation becomes more tightier as the years passing by where current users wouldnt really have any choice but to accept with those terms despite of being
already centralized because there's no other way for us to make out some fiat conversion but only on this path which means users will really be dealing with the verification needed even though its
totally opposing on what they do prefer but due to this very reason then we wont really be having any choice and i agree on what is op been saying about this heavy regulation thing.