Topic: Will bitcoin go under regulation - page 60. (Read 211123 times)

If the government accepts bitcoin and they come up with legal frameworks to manage bitcoins as well as other currencies to make bitcoins more stable then I think bitcoin should follow that governmental and legal regulations. the law

I think what you are discussing is a misnomer, because bitcoin will not be possible to set. but if there is any regulation in the crypto trade, ico project, I strongly agree, for the prevention of useless ico projects even that are alleged at the scam level.

This is one of the reasons of some countries why they choose to ban bitcoin on their land it is because bitcoin can’t be regulated. Some country says that if bitcoin will allow there government to regulate it they will allow also the existence of bitcoin on their land. But the question is that, is bitcoin really need to be regulated by some organization like the government? If i will be ask for the kind of question I will strongly say that NO it must not go under regulation by those organization. It is because if they will go under that regulation surely the process flow of bitcoin will change or i can rather say that this will be just like a new bitcoin.

To me i will say that it cannot be regulated as a digital currency but it can be regulatd in terms of exchanges where people go to exchange their bitcoin into fait currency.

Government and bankers see Bitcoin as a economic threat.Any government cant regulate Bitcoin because they cant control internet.The whole blockchain technology can not be regulated by government.If the government regulaised the system then many countries have to legalize Bitcoin and cryptocurrency.

the government must be able to regulate bitcoin as an asset only, prohibiting bitcoin as a legitimate payment medium but will never be able to regulate the circulation and bitcoin prices.for the government's notion of declaring bitcoin and cryptocurrency as a threat to the country is unfounded because bitcoin and cryptocurrency in my country only able to absorb 1% only state finance

Bitcoin can not be regulated because no one is in control of it. Some governments imposed regulations on cryptocurrency exchanges to monitor and track people that may use bitcoin in their illegal transactions. Some governments view bitcoin as a threat to them financially but other countries with advance economies see bitcoin as another source of tax.

Right now governments have made it fall under the regulated asset, which is the major cause for the price to be fluctuating within limited price range without further pumping. To progress high a large scale adoption from few countries is a must, hopefully such a incident will happen by the month end or at least by the starting of the third quarter of the year.

No, I do not think the government can completely stop the use of bitcoin, because it is global and not only used by one country alone, perhaps if the governments of the whole world can cooperate and form an institution that regulates it may be possible

I believe will probably observe genuine trades go under direction from governments than Bitcoin itself. That would sound good to me as that is the place a ton of the control and mischievous stuff goes on. ICO's will most likely be directed soon as well however that doesn't generally influence Bitcoin that much, that is more for Ethereum.

it can not be gan. the name of a thing or tool that is created will run in accordance with the draft regulations that have been set. if there is a change it will also take a long time to apply the new rules .

If that's what it takes for bitcoin to be operated in their country. Then so be it. If they are a technologically advanced country that does not want compromises to happen, then they could easily regulate bitcoin in their country. However there are certain countries that are not as advanced so we can't hope that these countries will be able to regulate bitcoin in their country.

I think this is a government threat. the government wants to set the bitcoin and want to make the rules by itself. and it could be its fore when bitcoin is set we will be hard to get bitcoin

I think there are government who wants to regulate bitcoin. But as they can see that butcoin is no need of government regulation so they conclude that it does not require regulation because bitcin can works itself without the government. This is how the crypto world works.

bitcoin should not require regulation to be outstanding because bitcoin should only move very freely not shackled by the existing rules, but if it requires regulation then it seems bitcoin takes time to create regulation in every country.

many countries see bitcoin as negative, so they have not tried it and just guessed that bitcoin is negative, in fact the bitcoin is not as they imagined and should they think long before guessing something that is not necessarily true.

yes,If peoples who have bitcoins and cryptocurrencies accept the KYC then. and it will mean that governments will have won.

kindly read this there is always an attempt of regulating bitcoin because governments wants to earn from it too, and that is the big problem for us because we all have taxes  on our salary even the food we eat (i dont know in you country but in my country there is) everything they put taxes. and the changes poor people gets poorer and rich people gets richer.

Bitcoin enthusiasts struck it rich this year as the cryptocurrency surged. Now they’re preparing for battle in Washington to protect their industry’s ascent.

Advocacy groups are gearing up in Washington for a lobbying push in 2018, looking to limit legislation that would subject cryptocurrencies to more regulation and change tax-reporting requirements. Organizations such as the Chamber of Digital Commerce, Coin Center Inc. and the Bitcoin Foundation say they’re concerned about stifling innovation.

Their top targets include a Senate bill that would include digital currency in an update of money-laundering laws, requiring more entities to police potentially illicit transactions. Some advocates are also backing a House bill that would exempt crypto transactions of up to $600 from capital-gains tax reporting.

The lobbying comes after bitcoin skyrocketed past $17,000 this year and debuted on Wall Street with a new breed of futures contracts. While many in the financial industry predict it’s just a matter of time until regulators subject cryptocurrencies to stiffer regulation, proponents argue that over-regulation would be akin to impeding the rise of the internet.

“This technological innovation must be allowed to develop, be rolled out and tested in real environments without material interference or overburdening regulations, especially at the initial stages of its adoption,” Llew Claasen, executive director of the Bitcoin Foundation, a non-profit advocacy group, wrote in a Nov. 30 letter to the Senate Judiciary Committee.

The committee is considering anti-money laundering legislation that would deploy new tools and close loopholes to undercut terrorism financing, counterfeiting and other criminal activity, Chairman Chuck Grassley, an Iowa Republican, said in a prepared statement for a Nov. 28 hearing.

The bill includes a section that would expand the definition of “financial institution” to include an issuer, redeemer or cashier of “digital currency” and “any digital exchanger or tumbler of digital currency.” That would require bitcoin handlers to report suspicious transactions and shoulder the same anti-money laundering obligations that banks have as law enforcers raise concerns about digital currencies being used in illegal activity.

for more info. http://fortune.com/2017/12/14/new-bitcoin-restrictions/

The increasing number of scams not only in ICOs but different aspects that involeves cryptocurrency can make it a centralized system in the future. This is not by just earning taxes or money but rather to protect people from being a victim on this. I find it okay then rather banning cryptocurrency all over the world to shutdown scams.

 Governments, Banks and other financial institutions feal threatened by Bitcoin and cryptocurrencies so they want to regulate and control it. If Bitcoin will accept KYC it could be a major misstep.