Bitcoin Forum

Regulatory issues for cryptocurrency have actually been around for a long time.  In fact, it was several years ago.  But it seems, in the past year or so, it has become a serious topic of discussion in several countries.  And it seems, some countries will soon implement it.  What I personally think is, if true, many countries start implementing regulations for crypto currency, will this change the nature of crypto, namely decentralization to not being fully decentralized?  What do your friends think here?  Please share, hopefully this can add insight for all of us 😊🙏

There are already several countries that allow crypto to transact and the last country is El Salvador which legalized Bitcoin as a legal tender and in my opinion El Salvador was one of the first countries to legalize Bitcoin. The implementation carried out by the country to the people there who are not pushy makes me believe that the benefits that will be obtained are very large because as I know that cryptocurrency has a transparent and very easy transaction system.

It will change the actual scene and we have to embrace the government's ruling towards crypto. We can't do something with that, they're also adopting.
But the thing is that they're the ones that dictate what should we do and what's a must and what we shouldn't do. At some point, it's also going to help the market itself because there's the support of the government and this give peace and worry-free to the new investors that are still in doubt.

if it's good and speed up adoption i have no problem with this. regulation is like a double edged knife. On the one hand, this is good because crypto is recognized and considered legal. on the other hand, regulation makes the decentralized nature of crypto fade away. Strict scrutiny from regulators makes crypto seem to lose something that is most important. but if we want to make crypto a global currency, we need regulation for all of it. so it's like a dilemma for us right now.

Most of the countries that publicly involved in crypto has already implemented regulations since they started accepting crypto currencies. I believe most the Country that will have an interest on crypto will surely follow since they will lose a lot of money if they allow crypto freely trade without any regulation.

Regulations will make crypto more stronger because user will have a protection for a possible abused by scammer.

well there will be a good improvement of crypto if in the future the adoption of crypto will increase more, indeed that's how it always work wherein because of adoption.. And it will become so expensive for sure like what governments trying to do with crypto so that they can stop people from buying crypto. Lol i don't think its possible since crypto space is like a roller-coaster. But yeah mate keep holding if you have cryptos in your wallet because you can get a good return from it in the end of the day because crypto market is really improving every year because of such reasons..

There will be coins that will remain decentralized but will only be subjected to regulations when they circulate in the market. Regulations are good, it makes this market trustworthy. If it's a trustworthy market, countries will have an interest in it.  

It's best for countries to actually make their regulations now so that their people will have the chance to hedge their local currency against inflation because the crisis seem to be getting worse.

Regulation will be implemented when it comes to the centralized exchange site. All of blockchain projects didn't have problem with the regulation. The regulation was only targetting the gateway for the funds to go in and out. The fact that blockchain was still decentralized. if you didn't wanna deal witht he regulation that will be implemented in exchange site and how can you trade crypto safely? regulation and decentralization can co-exist. Just because cex was getting regulated and it doesn't mean the decentralization of blockchain will be robbed by the regulation. that's a non sense thing to happen.
If you wanna go to the private or side chain and it will be centralized. Did you know what mean of decentralized in the crypto? It was running by thousands of nodes in the world to create a network.

As we know that the advantage of cryptocurrencies is that it is decentralized, meaning that it is not centralized or there is no third party intervention. but if cryptocurrencies have been legalized by a government, it is clear that regulations will be enforced, although they cannot change the nature of decentralization itself but other regulations such as being taxed may be applied.

True, not very decentralized, and also crypto prices would not be as volatile as they are today if many countries in the world had implemented their own rules.

It's because we are about to cross another all time high, and that's why we will hear against regulatory bodies globally trying to put a clamp on bitcoin. This is so reminiscent of the 2017 bull run, and after, the same that we are witnessing right now, so it is also a cycle.

And with El Salvador making it a legal tender, no doubt that we will have the eyes of those regulatory bodies again. However, they can't do anything as bitcoin is too big to fall now. We have seen the worst regulations already so I'm not sure what more then need.

The main factor that will be explored by the government is the tax problem. because this is state revenue to support the development of a nation. somehow the form later, of course this regulation must benefit the state, and of course a clear regulation is needed. it seems that this will be easier, because the government can see every transaction even if it is a small amount

Decentralization will not change but it will affect the privacy or anonymity so it depends on the individuals who are accepting cryptocurrency for whatever reasons but in general regulating the cryptocurrency is lot better than banning it so more people will start adopting and the cryptocurrency becomes more and more popular.

It will not bring any changes in cryptocurrencies, let alone change the nature of the cryptocurrency itself, obviously it will not affect this, because to establish regulations each country must analyze this thoroughly and openly to all their officials, because of this different from the real projects that exist in each country.

It is known that regulations tend to lag behind innovation and I believe as of now the urgency to regulate how cryptocurrencies markets should comply are being conditioned by the governments. But it doesn't mean it will directly lose its decentralization. Technically some cryptocurrencies especially BItcoin will maintain it. The problem is there will be a lot of services like an exchange that will force users to comply with the regulations. So if you truly care about the decentralization we really want to, in this specific aspect of exchange, dex is being developed maturely.

Yes, it is, actually in my country, the government is starting a framework for regulation and enforcement to all crypto-related businesses, But even before the regulation is implemented my country is already crypto-friendly, in fact, the government has designated an ecozone just for them and currently hosted some 26 crypto-related companies. IMO, the decentralized function was not fit in the government because the Government functions as a centralized authority so if the regulation will be implemented I am sure some of the decentralized functions will be compromised.

It almost seems like people don't know what decentralization in cryptocurrencies mean... We still have permissionless transactions with many coins, that hasn't gone away. Real world  has just catched up. Decentralization is ONLY for permissionless transactions, you can't just apply it irl and say that real world rules won't apply because you are hodling crypto, because dealing with stablecoins or fiat money have nothing to do with true decentralization... When you are giving your bitcoins to third party, like any exchange or you want to cash out, or buy anything via btc visa debit you are far from any decentralization.

I can well understand your point. But you don't have to forget that in a country where crypto isn't yet regulated, if the authorities can prove that someone is using cryptocurrencies, he can face many troubles according to several law articles (using non-regulated form of money, money-laundering...). This becomes easy to happen as almost all the major exchanges enforce KYC for its users, by which they can restrict users from the countries where crypto isn't yet regulated.

Note also that if crypto becomes regulated in any country, this doesn't mean that the country adopt cryptocurrencies. It's just a matter of applying more taxes and not to use it as an efficient technology.

If regulations on cryptocurrencies have been implemented by all countries, then in general it will be controlled by the respective countries, but it always raises the question why in the past and also now it has not been realized in every country?

I do not support regulations of Cryptocurrency industry,  I think regulations will kill innovations and ideas,  not that regulations will stop decentralized nature of bitcoin and other Cryptocurrency,  but it will stall it's developments and growth.  Instead of regulations,  why don't regulatory bodies create an environment where Cryptocurrency idea will succeed and they can start looking at taxing profit! 

Ideally, it is not the cryptocurrency that should be regulated, but the structures that provide participants with access to the cryptocurrency market. In this case, the cryptocurrency will be safer for investments, since investments will be protected by law and, accordingly, there will be fewer scammers on the market.

in fact, there are some countries that are pressing for crypto regulation i don't know if out of a desire for control or to be able to tax and earn on them, however it is not an easy task i believe that cryptocurrencies were natively designed to be decentralized and that they can escape to all sorts of control, as long as there is even a single free computer online that will act as a bridge they cannot be controlled, the various governments would do better to seek integration, collaboration with cryptocurrencies instead of seeking any control

The way bitcoin price is going up, governments all around the world are introducing strict regulations to tighten there grip on crypto before it gets too late. But governments cant ban or fully regulate crypto since they don't have the full capability to do so. BTC and other cryptos are designed to remain completely decentralized, that is free from one entity control.

Actually, the more popular cryptocurrencies are, the more attention they attract from authorities, so when crypto was just for investment and trading, the government didn’t regulate it at all, but now it is being accepted by many companies and countries with unsustainable economy start adopting them, so authorities are likely to start regulating it and make it less decentralised.  :-X

That's true, and I personally prefer the method used by the president of El Salvador in implementing regulations.  But there are also countries that tend to be stricter in implementing rules, so it seems like it limits the decentralized nature of crypto

Régulation can't and won't compromise the decentralization.

Regulation can apply onto the transactions fully and publicly accessible on the blockchains. Now AI is the key to work with such amount of data.

One reason why gvt would like to work on this is to prevent money laundering and frauds. It's a good thing because it will induce more trust in crypto, thus more users.
OTOH I don't know if more "security" would also imply less profits in the end.

When one want to use dex, we need to pass by a KYC and for those that are still fully anonymous it's a matter of time before they'll have to comply and put a KYC into place.

The real thing here is that banking and regulation system are so slow compared to innovation that I don't see anything like this able to be happenning before at least 5 years from now.

Regulations for crypto have been around for a long time although the decrees are by no means final.  If you are referring to the bitcoin legalization process?  yes, this is the year that has turned a new history for the market.  Bitcoin first accepted legalization in El Salvador, Many countries are coming to legalize bitcoin.  Once again from numerous petition submissions, we have finally seen a bitcoin ETF.

There is no way that it'll be bitcoin.

China has done its digitilized money.
EU has done some test through XTZ network and will bring a digitalized money too.
I imagine the US will do the same.
But clearly this won't be bitcoin.
It'll be a token on a closed network with a specific new token. Denmark is doing it too if I understood correctly.

One thing i know is that, crypto currency regulation can't fully work without centralization, they have to be in charge of things to control it or how it should be used, so what I think is that, if crypto currencies must be fully regulated, for this to be fully effective, it means decentralization would have to not be fully decentralized, and this also can only work if they(the regulators) ban developers from building (fully) decentralized apps, which in my personal opinion I don't think is possible.

Cryptocurrency regulation also always has an impact on prices, when the regulation is prohibited then the price will drop drastically, and vice versa. For that reason, this is too important to note if there is news related to regulations. We need to take immediate action.

Personally, I think that rules should be mandatory. Since everything must be in order. If there is order in the cryptoindustry, then everyone will earn according to the rules of cryptocurrencies. And the rules should be the same for everyone, since the cryptoindustry around the world is recognized as a very promising development of new technologies.

I think we might have a temporary setback as more countries start implementing regulations for cryptocurrency since there will be rules to follow, investors have to pay tax, privacy coins are banned,... But after that, cryptocurrency will come more stronger than it was.

So basically whatever the conditions are, on the other hand it will give us an advantage over the involvement of the government.  Because new investors will have more confidence in the regulation, maybe it's like that, right?

If you trade on decentralized exchanges run on smart contracts like Spookyswap, Pancakeswap and Ref Finance there is no way for them to stop you.

You are absolutely right, this will be a dilemma.  But it seems that we will get many positive sides, namely more investors who enter, because of the regulation

Definitely yes, I believe it is a neccessry step! However, Once economies began receiving crypto currencies, just like the existing ones ,the lot of nations that have publicly engaged in crypto have already adopted legislation and restrictions sometimes. But believe that the majority of countries with an interest in crypto will undoubtedly comply, as they will forfeit a significant amount of money if she permit crypto to continue trading under supervision.  Restrictions, just like any other business where there is no law, there would be no sin.
Yes, restrictions would definitely keep cryptocurrencies safer and secure since users would be protected from potential fraudsters.

I don't see the connection between regulations and losing decentralization. Regulations don't mean that a country is suddenly in control of the price, circulating supply, total supply or even mining. So decentralization remains as it used to be. However, depending on the regulations, some anonymity can be lost in the process. For instance, if mandatory KYC and/or custodial wallets are introduced, it's a major inconvenience, and while it doesn't change the nature of cryptos because it's still hypothetically possible to use an Electrum wallet and provide no ID, it can lead to many people having their IDs linked to their wallets, and the state having way more oversight and information about crypto users because of this.

In this context, I totally agree with you.  And yes, I will always hold on tight to my coins, because I believe, they will be of great value in the future.  Sometimes what worries me is that some countries are overreacting to crypto regulations, or I am overreacting.  who knows... 🙁

That means, there is no need to worry excessively about existing and future regulations.  Because no matter how strict the regulations are, they will not be able to change the nature of crypto?  Looks like I'm overreacting to crypto regulations, huh... 🤔🤭

Every country have their own regulations with regards to dealing with cryptocurrency and yes, this has been a topic since then but until now very few understand cryptocurrency and they show a full support with regards to this though most of the country are still neutral and didn't have any regulations at all. For me, we are still far from the mass adoption, we are getting there but still far from reality. If more country regulate cryptocurrency and make this legal, then it will bring a huge impact in the whole market and good prices will start to happen.

if the regulations made by one country are crypto friendly and do not change the working system, I don't think there is a problem with regulations in each country,
but the name of the government will definitely impose the rules they make so that it can harm crypto users/owners
example: tax

regulation does not have a major effect on crypto. because every country has different regulations. so even though in the future every country has regulations but for crypto it will still have a good position and and transactions will run well without any obstacles

tax are actually good for growing the country's economy but on the other hand our income will also decrease even only a little ,in my country there is new news that there will be a crypto tax of 0.03% which will continue to be reviewed by the government ,I personally no problem for welcome legality and with this tax I become more confident because maybe in terms of price and adoption it will be better

Asking for that would just defeat the purpose of some coins especially Bitcoin. People did not invest to some coins just because of the returns, but because there is no authorities involved and I hope you realize that fully.
I do not fully support this idea, and yes it will obviously change "the nature of crypto" for sure and that is a bad news for us. The only good thing it would give for sure is freedom of people to use, but are you sure that it is the "freedom" that we are asking in cryptocurrency?

Actually many countries is regulating cryptocurrencies on their own point of view and even introducing their own coin, so i know vividly that since the existence of cryptocurrency and it's adoption is not all the countries across the world usually transact with bitcoin as exchange, so therefore i denote that not many of them like decentralized currency, they only look forward for anything centralized which is affecting some them of today, actually if an every country regulates and adopt the uses of cryptocurrency especially bitcoin, it will not have it's potential values again, so is better we further ahead with it like that.

From my perspective, some countries regulates crypto right now, but they are not full recommend or legalize it to the people, and with  the same vein, restrictions are also implemented, so what is the need of regulations since the users is still living in fear because of government authority towards crypto. I think best option is to run your crypto stuff's in silent without anyone awareness.

Regulations seek to provide consumer protection in the use of increasingly popular blockchain technology. Blockchain itself offers new technology in digital data storage.
More and more that agree to digital currencies means Bitcoin is increasingly accepted in various circles. Now it's time to keep up with the times in terms of this currency. This technology can be a part of the derivative of the global financial system, because it is indeed efficient and regulated by decentralized through peer to peer technology.
Regulations seek to provide consumer protection in the use of increasingly popular blockchain technology. Blockchain itself offers new technology in digital data storage.

Bitcoin has even become more complicated as the years go by because of the interruption of negative criticisms coming from the government. As long as they are just one sided, then the government will not be good for crypto as for now. They are making regulations for crypto and at the same time strict restrictions for crypto. So how do we expect people will react on it?

But since crypto aims for massive adoption, then it will not be fully legalized if its not being regulated in the first place. Regulations will make crypto more legal so that people will not hesitate to invest in it or use it as a currency knowing it is fully backed by the government. Because it is the government that control its citizens and if citizens will see to it that crypto is already approved by the government, eventually people will flock to crypto once they find it more interesting than fiat.

My nation basically fits the description, we didn't actually have a law for it for years and people started exchanges when there was nothing and that really worked amazingly as well, it was really something that I liked and I used that situation to make a lot of crypto profit as well because there was no law. I didn't even pay taxes for a while because there was no taxes for the crypto profits and that was a great situation to be in.

Right now, we have supportive laws and it does require me to pay taxes and that is something that I can be fine with, as long as they support it then there is nothing with it, taxes are the reality of the crypto world and all of the business world. If you are making a profit then you are going to pay a tax and that's fine, as long as they support it and suggest that there is nothing wrong with it then I am fine with it.

Of course, regulations have been implemented with the implementation of the KYC system on the stock exchange, so that the government's control over finances has occurred, although not completely. Maybe right now only decentralized platforms are still running freely without the need for KYC. But decentralized platforms cannot make money withdrawals to conventional banks. This means that even though we can take advantage of a decentralized platform when trading, the ending we still need a centralized platform.

That's actually is also running on my mind recently. Specially because play to earn games in blockchain boomed here on our country. Maybe they cannot regulate the network itself, probably only those exchanges that are centralized since exchanges can get information from you using your documents. Also, probably they can tax you if it happen that the government knows your network address (e.g. Ethereum address). Through that, maybe they can link your transactions and impose tax on you.

if government will not ruined anything about crypto aside from implementing taxes, in the long run it will be favorable to each
crypto investors, the value will continue to increase as there are usages and more end users to participate, it's a good working
relations between crypto system and the businesses and government that will start to embrace this market.

Although most countries have not legalized crypto like El Salvador has done, but we should be grateful as long as the government does not prohibit
the use of cryptocurrencies. Most countries are indeed neutral by not prohibiting the use of crypto as a digital asset, but indeed most countries
prohibit using crypto as a means of payment. Usually the government starts enforcing KYC procedures for centralization exchanges. And I have
no problem with that, as long as I can make a profit from crypto and can convert crypto into fiat. That's good enough in my opinion, and it's true
that even in my country, the government doesn't impose taxes on the income I get from crypto. So until now I still freely invest in crypto, although
I also hope that crypto can be used as an alternative payment. It may take a process for the government to actually allow crypto as a payment.

Unfortunately, but through regulations, decentralization will be reduced in a way. I think simply if we want to use cryptocurrencies officially and pay with them, then they will cease to be decentralized and anonymous. However, in deals between users, the rules will remain as they were. It will simply be a matter of choosing how you want to use cryptocurrencies - officially or anonymously.

If that happens, crypto will no longer be as attractive as it is now and characteristics like freedom and complete control by one's own hands will no longer be impressive because it is part of a very unique use of crypto.
So like it or not, we have to accept the rules and taxes that we definitely follow and the profits we get are not pure because we have to pay taxes that will benefit the state or government, and for me it happens or not. it doesn't matter to me, most importantly I can still use crypto and maybe there will only be a difference if that happens.

This is right and whenever they regulate it, they just wanted to get some taxes or to benefit from it. either way, as long they don't ban it, everything is good for us and we are free to use it in a legal way. Some countries still don't really care about it and they stay neutral with how they look at bitcoins and other cryptocurrencies they will just issue some warnings about possible ponzi scams using its names and popularities.

It has not been implemented yet. It is in the talks but for some time now.

Always keep a positive attitude towards news things that happen around you. Regulation has the good things of being able to track money launderers and keep the crypto-related thefts under a certain control when done via exchanges and mixers.

I dont see how this can change decentralization - in fact this will only monitor the exchanges traffic and therefore no changes in central control. Are you sure you are fully informed about it? If so please explain why this can "un-decentralize" the network?

Nature of crypto will remain the same. Those who will be angry about regulation are the money-launderers. The legitimate investors and traders should take this as a boon.

It is true that the topic of regulations that are coming for cryptocurrencies and crypto related projects are discussed in this forum and other crypto platforms for years now. Many crypto enthusiasts are very skeptical and maybe even afraid of regulations for crypto because they fear that crypto will lose it's biggest selling point and feature the decentralization and the total financial freedom of it's users because of that and i totally understand that. I also think though that there needs to be some regulations happening before crypto can become really mainstream.

As long as we can still use crypto, that will not be a problem because we can earn money from crypto without worrying if our government will prohibit us. But somehow, the government can make regulations for crypto to their people so they can still control their wealth and take taxes from them. I think that will not be a problem since we can withdraw the crypto to fiat as we want and keep the rest of the amount in crypto. The regulation reason is to know if their people use crypto with right or use it for illegal things.

Which countries? As far as I know, none have done that yet.

As a legal tender, but only recently. Not in the line of a few years, but a few months ago.

You are thinking that crypto will be used just like fiat is used today. In the broader terms yes it might be "used" that way but they are fundamentally different asset classes. Bitcoin is deflationary, decentralied and censorship-resistant while fiat is the complete opposite.

Of course we might a lot of changes happen to the economy if both start being used simultaneously but by then there should be regulations to keep money laundering and easy transactions possible. But we are a long way from that now.

I have read on cointele the there is another regulation law for it I'm quite not sure what changes have been made but previously it was about developers, miners are mandatorily asked to get the data of everyone who was linked to buying and selling cryptocurrency. They don't have the means to do that but they were just asked to do that but of course, can't force anyone to submit.

This time SEC looks about to win the stablecoin issuer regulation which I guess is about time to have doubts that maybe it's true they could freeze stable coins.

Currently crypto is too free to make it easy for anyone to make coins or tokens, unfortunately because it is too easy to make tokens or coins it is widely used for scam projects, strict regulation is needed to ensure that projects are not used for criminal acts.

If there's an agency that would require approval before anyone who owns could go for public sale I think it's still not good for the entirety of the crypto market, why? because crypto is supposed to be decentralized, no one should stand as 3rd party before transactions could happen, and with an agency, it will only make things harder for a small capitalist who would like to try their business model by seeking help from the public.

I think like an investor, it's our responsibility to carefully evaluate the project before we invest, authorities should only come later if the team who runs the public sale messed up or scam the investors.

Because until now there is no strict regulation so there are already more than 13k coins and tokens in the market, I'm sure if the market continues to shine then the number of coins and tokens can reach 50k for another 2 years, and this is ridiculous so strict regulation must be made immediately.

This is big issue for this community anyone can copy past and have his own coin which hyped by few paid influencers and this all hurting us very badly. There was one Bitcoin Foundation, but It's also never been as it's need to act because we all want to live in free and independent world, so it is creating too many scams and big financial problems.

In near future, we have nothing about this from any side, even many countries bringing laws and regulations just for having taxes from this crypto community member's income. Right now, they are targeting about in and out of funds but nothing happening for projects who is doing how is doing it's also big use case.

Correct, this is the effect of lack of regulatory bodies. Many new investors get washed away by such projects and this hurts the overall economy of cryptocurrency because that person is not coming back anytime soon. Consider that new money coming in to bitcoin and we would get the gradual organic growth.

Of course altcoin hodlers will speak the opposite, they want their bags to get heavier so they can dump on a unsuspecting newbie on an exchange.

I agree that as investors we should do due diligence but does that second part of your statement really come into action? The number of scam or bankrupt projects that have come up after the post 2016 ICO craze, very few have been brought to legal light even if each and every one of those investor groups proceeded with legal action.

Currently the legal status is a difficult topic but I would agree that this too needs addressing.

I think the decentralized cryptocurrency is from the system they are fighting, because even though there is no regulation of cryptocurrencies there is also a completely decentralized one. And regulation is also important in my opinion, in order to add pluses in the eyes of the public and business people without eliminating the decentralized nature itself.

If the goal is just for tax revenue, maybe it's not too worrying.  But if I pay attention, it seems that there are some countries that are too excessive in implementing regulations for crypto.  Will it not affect crypto in general?  What do you think about that?

I think so too, but for the future.  Will DEX not be affected by the enactment of regulations?  What are your views?

We should expect already that 100% decentralized crypto won't be achieved. Remember that more people are relying on centralized exchanges just to feel the benefits of buying and selling cryptos. Without these exchanges, liquidity won't grow. Relying only on the decentralized exchange won't bring an uptrend.

And since most people are seeking help from the government in case of fraud, that's the big reason why they should regulate all crypto exchanges.

the adoption of crypto is getting stronger from year to year and indeed things like this will definitely not be unstoppable considering that crypto has now become one of the main accesses for some people to invest or just trade.
on the other hand things like this I don't think will make changes to crypto, they will still have a decentralized nature because it will be very difficult for the government to take control of crypto

The larger the cryptocurrency market cap, the closer to the regulations. For many people, regulations will be a protection, for others it will be inconsistent with the principle of cryptocurrencies. I think that in the end everyone will be able to decide for themselves whether they want to make transactions through decentralized exchanges or through regulated, centralized exchanges.

Regulations for crypto must be implemented immediately, currently there are more than 13k coins and tokens officially listed on the market and I'm sure it will continue to grow, regulation is needed to make projects or coins effective so they are not used for scams.

Each team also needs to know the effect of this regulation if it is for good, because if the regulation on coins and tokens can get better, then I think this needs to be studied in depth first so that it is known how the effects will arise later.

The idea of cryptocurrency regulations in countries deal with control of money laundering, tax payment and taxing of cryptocurrency profit. This can work if fiat at a point is allowed to engaged and other platform can allow payment without illegalities. sadly, most of the countries do not give cryptocurrency a fair platform to operate even with the regulation. so I just believe the taxing and prevention of crypto illegal dealing is the main regulation if they mean to

If crypto is allowed to transact in that country, this is a good thing because transactions using crypto feel easier and faster. Many countries have implemented this, but until now Crypto is not affected by anything, what is there is even more known to many people. Its performance is getting better, it can be seen from its development so far. Maybe if crypto is allowed to transact the government will take part in it, they can find ways to keep crypto under surveillance.

Try to mention what country it is so that everyone can start looking for information related to it in that country, because the right thing to do always needs to be sought by everyone for profit and security in cryptocurrencies too.

I also think that regulating crypto is not a big deal... I understand people who live in well-arranged countries, where everything is "normal", so there's a good reason to support regulations, but why would I seek from my fucked-up government to regulate crypto?! I am sure they will one day, but that will be only for one reason, to tax it just to make more money for dirty politicians! And don't get me wrong, I am not against taxes, I am against the government taking taxes and not giving almost anything in return!

What more do you expect? Taxation is the first thing the government aimed that's why they are really pushing in
Regulating this market. If there's no money involve here, we won't see their involvement in this industry, but
the fact that there is a huge amount of flowing money they are hiding from the laws that they are using,
they are trying to say that they wanted to protect their people but behind that reason is the tax that they
are calculating to imposed.

This means that there will still be a positive side, with the enactment of regulations for crypto.  Although later we have to ignore the anonymity side, because doing so, will help accelerate crypto adoption?  Maybe like that huh?

Now, this may be a new understanding for me personally, because all this time, my thoughts are.  If regulations are made for crypto, then it will more or less affect the decentralized nature of crypto to not be fully decentralized, because there is interference from certain parties (in this case the government).

That for sure it could affect but I'd never think that it can affect the volatile nature of the market. As if it happens that there is a strict crypto regulation, the number one that could change is to have KYC. It is pretty obvious that the government will ask for that for taxation reasons and this leaves us no way to escape but have to face it.

Many people had come due to the anonymity that crypto has but as this changes, I don't know if this could still give an interest to the community or that they will keep on fiat.

The regulation of cryptocurrencies will be possible without affecting the basic natures of cryptocurrencies. Yeah, I am sure there will be possible regulations in a way without affecting the decentralized nature of cryptocurrencies. We cannot expect the same way how government is regulating corporate and other organisation but they must need to take different stand against the cryptocurrencies so that it will serve its real purposes to the people.

There will be no point of regulating cryptocurrencies by removing its all basic characteristics instead of doing like that then government can go for their own digital currency because after removing out all the basic characteristics of cryptocurrencies it will remain like fiats but in digital form.

The regulation of cryptocurrencies by states is inevitable. Cryptocurrency and participants in this market either need to agree to regulation, or not rely on the legal circulation of cryptocurrency in society. It is unlikely that states are able to change the principle of decentralization in cryptocurrency. So far, legalization consists in determining the legal status of cryptocurrency and establishing the order and conditions for its circulation in society. But when determining the order and conditions of its circulation, the states will try to reduce the decentralized foundations of the cryptocurrency and especially to reduce its anonymity. However, another way for crypto distribution

A regulation from government should be only for preventing cryptocurrencies to be used for money laundering or any other highly potential risk involved activities but definitely they should not work on regulating by removing the basic characteristics of cryptocurrency.

In my opinion, government regulation will not mind about the decentralized nature of cryptocurrency because if it is not there then I am not ready to accept a currency as a cryptocurrency at first hand. Most people are here because the privacy and the financial freedom we could enjoy from cryptocurrencies but when there will be a possibility of such thing not to be existing then there will be no meaning of adapting them.

Regulations for the application of cryptocurrencies if carried out by a country will have its own impact on its people. I want to convey the negative impact even though personally I totally agree if it is implemented. I see if crypto implementation is done, it will have an effect on the loss of the value of the original currency.

Although the digital asset investment space is loved by investors who want to make a profit and there are many opportunities to make money. Regulation that overshadows crypto assets and other digital money, it is still not clear which regulatory entity is meant to oversee the crypto market.

I think the ultimate goal of government regulations is taxes.  But what I'm thinking is, is it possible for the government to get too involved in crypto decentralization, so that it will change the decentralized nature of crypto to not fully decentralized?

Cryptocurrency has a lot of coins that are in a good position now. The results will be available in front of me. I think cryptocurrency is Will do something good up front

It's true what you said that long ago there have been government regulations governing cryptocurrencies. In Indonesia, for example, many regulations have been issued by the government regarding this matter, you can read about it here: https://www.cnnindonesia.com/ekonomi/20210609135429-97-652158/4-peraturan-bappebti-asset-kripto-di- Indonesia

https://bappebti.go.id/resources/docs/peraturan/sk_kep_kepala_bappebti/sk_kep_kepala_bappebti_2019_02_01_w9i365pf_id.pdf
https://aptika.kominfo.go.id/2021/08/regulasi-akan-lindungi-konsumen-dalam-pemanfaatan-blockchain/
https://www.cnbcindonesia.com/tech/20210122132253-37-218020/resmi-ini-cryptocurrency-yang-diakui-di-ri-termasuk-bitcoin
In my opinion, it has become a serious conversation in several countries in the last year because of the controversy in several major countries in implementing or legalizing Crypto in these countries.

but the question is about regulating it and do you possibly thinking it would happen? while i try to believe yet regulating crypto will only weaken the capacity of each country to deal in what is best for their people.
nowadays the world is looking positive towards crypto specially bitcoin and regulating  this is not necessary instead the people who use it must be in their radar and not the coin itself.

In my opinion this is a possible certainty, because I believe it is a necessary step! However, Once the economy started accepting cryptocurrencies, as they are, many countries that are publicly involved in crypto have adopted laws and restrictions at times. But believe that most countries with an interest in crypto will surely comply, as they will lose a large amount of money if it allows crypto to continue trading under surveillance.

There are good and bad values if cryptocurrencies start to be regulated, this will affect different regulations in each country, currently cryptocurrencies are in their own regulation without being restrained and limited by any country, for decentralization problems it really depends on the type of regulation and usually this will be different for each country that makes regulations, the problem is how cryptocurrencies will survive if many regulations start to be applied by different countries?

I am having a bit of a hard time trying to grasp what you are saying, but if you are referring to the problems that might happen if cryptos are to be regulated then you shouldn't....unless you purely depend on custodial wallets where your cryptos are being stored.
Surely if cryptos get regulated which is likely to get taxed, then slowly people would go to the point where personal or p2p transaction would be the best thing to do when trading or selling their coins to avoid these.

The nature of crypto cannot be altered the only the only effect this regulatory agencies would have will only reflect on exchanges. It's obvious why most countries are fighting against cryptocurrency adoption is because the can't gain a complete control of its flow and so the try to discourage it's useage. But in as much as there are custodial and non custodial wallets it's upto the user to remain decentralized , partially decentralized or centralized

Currently, there are countries that are trying to enforce regulations on cryptocurrencies. Based on my experience with certain exchanges that cannot be used by foreign nationals. Maybe you know the exchange I mean. Regulations are certain rules of an exchange that are not owned by foreign nationals. For example, the choice of using a telephone number is limited at the time of registration or KYC. However, it will not run normally for all countries, because the pros and cons of these regulations will always occur. But if the regulation runs normally, will crypto die? I don't think so, in fact there will be more and more fans. Nowadays people who are allergic to crypto will start to have the courage to invest.

depend how government think, like if they wont take any complicated stuff, just make regulation that dont make it hard for user and system. still work under crypto hand, though they have regulation, just to ensure the game.
there are country implement regulation and thats good for them, and its not steep as it thought.
but sometime regulation make it limit for move, and people still have the other way to maximize their move

All these sacred features of crypto are worth nothing nowadays. No real decentralisation, no anonymity, no cheap transcactions (look at ethereum fees), and the speed is really slow sometimes.

Wont believe that they would really be having that complicated kind of reasoning and would rather believe that they do go something on minding about decentralization.

This had been always the main issue on why government doesnt really like crypto in the first place.This isnt something that you could easily
control and you know that government doesnt really like that.

Regulations is inevitable into those platforms who do deal up with crypto but talking it directly then it cant really be possible.

In this context I agree with the purpose of making regulations for crypto, sometimes what worries me is, if the government gets too far involved.  So it can undermine the decentralization that is the nature of blockchain technology.  What do you think?

If they get involved they follow a standard that is based on a centralized manner, therefore the decentralization factor that makes crypto popular will be gone because of the regulation. Ask yourself, what do you think is the reason why the crypto market is growing? The simple answer is people see it as an investment rather than a payment system, therefore it really boils down to the fact that a decentralized payment system does not really beat the centralized system because that's not how people see it.

People see opportunities and they just simply grab it, most of them are not really into adoption but more on
investment, we can't measure who are those who favored regulation than those who still wanted to keep things as it is
and what's the value of making everything decentralized.

Money making is how people see the value of this market for now, in regard to regulations it's still on self
opinions and acceptance.

I believe it will come off as a good thing considering what we have seen from counties where the government has chosen to accept and regulate the trading of cryptocurrencies and from the experience from my own country where the Government have chosen not to and have gone ahead to even Freeze bank accounts "suspected" of dealing in crypto trade even without proof until the account holder is able to prove that the monies are not from crypto trading. So, Government acceptance/regulations can actually bring some sanity to the system.

if we talk about the benefits since the presence of Cryptocurrency, it certainly has great benefits for everyone, especially Crypto users. how not, Crypto users can make payments very easily without having to face to face, then apart from the benefits of using it someone also knows how to use their stored money to be able to invest in Crypto, so that person will benefit from their investment. actually if we study further, the benefits of Cryptocurrency are very large

That's really where it is heading.

When there's too much intervention of the government it will really affect the decentralization of what cryptos are for.

But can we do something about it? There's none but the same as the government that they adopt, we're also going to adopt what the government will imply to cryptos.

When most crypto people are forming a community then we can face any kind of regulation from government without closing any of the basic characteristics of decentralization. I guess this is what we can do against the regulations of governments. We should not depend on exchanges or any other services where government will be trying to take over the control by mandating KYC.

When we start using everything in decentralized way then government regulations will have no power over this crypto space; but unfortunately crypto people are going for most of the corporate/ centralised services which is reason, governments try to regulate us.

in my view because of the current economic changes that have caused some countries to start seeing crypto as a new step to change the economy starting to move forward..
and many people are also starting to understand about crypto so that's one way to tighten transactions so that there are no mistakes or losses for those who start using crypto for their assets.

That is one of the obstacles for cryptocurrency so far. the regulations by countries are always here. surrounding.
In some countries, cryptocurrency is still banned and not legalized to transact for whatever activities.
In my country itself, it is legal as a commodity asset, but not as a currency in which used for payment method.
So it may be different for each country reminding the condition of the country itself, the readiness, and also the perspective of the government and most community in the country.
Moreover in my country right now, there is a big issue that is being up about the crypto "halal and haram". I know that it may be still debatable and ambigu.

yes, the right thing to start is by understanding at first about cryptocurrency by learning and learning to get nowledge.
Although in fact there are still many newbies that won't learn about crypto, only invest based on hype, this really make the view of crypto by some certain communities still bad because they only think about negative sides and risks of cryptocurrency.

We can still stand on our own.

But, the thing is that we have no option if we're going to have the government and exchanges. There will be those that would be against that idea and there will be those that would love the idea.

Most people have already been used to the centralization despite it counters the purpose of crypto.

If we look at it from the other side, where today, it seems that there are more and more fraudulent attempts under the guise of crypto.  It seems that regulation is indeed necessary, as long as the goal is truly to protect the public

There have been quite a few scams in the name of crypto from the past, but for people who are familiar with crypto, they are not too affected, regulations are made not only for fraud, but regulations are needed to legalize crypto to grow and develop in the midst of a society that is increasing actively participating in it, many advantages obtained in crypto, so regulation is needed to regulate it.

As long as it's within the limits you mentioned, I personally agree with the regulations.  Whatever the form, and not to the point of destroying the decentralization of crypto itself.  Regarding prudence in making choices in investing, I think it is mandatory for us as investors.  Because whatever the conditions, we all want our investment to be safe

Surely it is the hope of all of us, whatever the form, the government will not get too involved in making regulations for crypto.  So that it does not damage the characteristics of crypto currency, and makes it easier for crypto adoption more broadly

Some countries have already endorse the adoption of cryptocurrency for possible exchange transaction's that can Liga for massive control adoption, now cryptocurrency everyone knows very well that is a decentralized currency and been marginalize or regulate just as simple as we may think, is not possible. Let us look at another futures.

If indeed it can work and is true as you say, then it will be very good for the cryptocurrency space and also good for cryptocurrency users because if the government gets involved in cryptocurrencies there will definitely be taxes for everything.

Since that was already starting and happening in some parts of the globe, expect in the future that crypto will be regulated more.

Fully Decentralized can't really be achieved and that's the reality. We just need to be used to it and slowly adopt the change. The government may have a bad impression on others but also think about why they implement or consider doing that way.

Your idea is true. Several countries are planning to do their transactions in cryptocurrency. El Salvador has officially introduced cryptocurrency transactions in their country. However, many states are interested in implementing it.It is hoped that with the introduction of this transaction system in a few more countries, Crypto will become more popular in the market.

It's definitely going to snatch away the freedom of keeping your transactions to yourself while you're bound to show everything in the books once regulations are implemented, so for the Governments to start levying taxes. Just like israt1@ said, complete decentralization can never be achieved as it wasn't in full even before crypto was in talks. Though things get centralized, it's in the good for crypto because without the country-wide support for crypto, we won't be able to achieve the goals that was set by Satoshi, to make crypto available and easy to use as well as friendly for anyone in this world.

The more valuable cryptocurrencies become and the more people are involved in crypto investing, the stronger government regulation will become. In our world, complete decentralization in the financial area is simply not possible.

Yeah many countries are trying to regulate crypto. But don't be fooled, it's not "to protect the users from scams", it's mainly to see how they can extract as much tax as possible from crypto holders

This is the reason I am always expecting that crypto regulation might come into exist on day or other because the popularity of cryptocurrencies will trigger government to go for it. The best solution must be we need to go by continuously sticking only with decentralized environment or else we need to get ready for accepting all the regulations of government so that we will not get any interruption in our crypto life.

At the same time I'm not expecting all the governments will be negative against cryptocurrencies with their regulations but most countries main take a stand of neutral against cryptocurrencies which is more than enough for making use of the cryptos at its best.

No matter how unpleasant it is for all crypto-investors, control and management of all financial flows is one of the main functions of each state. The volume of cryptocurrency transactions is increasing every year, which forces governments to monitor them more closely. I still hope this is done for both fraud protection and tax control purposes)
" C'est la vie) "

That could be true and yes if the governments banned it then the price would fall and everything would be a lot harder. However the good thing about bitcoin (and all crypto) is the fact that we could literally do whatever we want without worrying about what the government says or thinks.

It means the traders and investors would end up losing a lot of money but that doesn't mean that we should be forced to stop neither. I mean even if every single nations bans it, we could still use it and they would have no way to stop it. Sure the price would plummet incredibly, probably be few hundred dollars at most if they all decide to ban it together, but we know it will not be banned by everyone.

The issue with cryptocurrencies is that people are believing in them more now than ever  before and the idea of talking about them more now is to get legal clarity about them and to know the safety of their investments should they decide to invest  much more. And OP is right regulatory talk as always been there but its now that more countries are now giving these cryptos the recognition they deserve, and btw not all countries have been welcoming to this topic so its just fair that we are on the look out.

Although we can't be hopeless seeing the market will totally consider as a form of currency but somehow, the situation is changing a lot especially when the government will become strongly attached to the crypto world. Now that they have the interest in regulating the market and tracking our transactions, the more chances of losing the anonymity feature that crypto has.
Like those countries who legalize Bitcoin now, let see what is going to happen with them. For now, we can't just say bad to it unless we are witnessing bad things happen to them first as this will possibly going to happen in the other country as well.

You can avoid regulation, and tax on crypto if you trade on decentralized exchanges like Ref Finance then swap your coins for stablecoins like USDC on a lending platform like Burrow. Eventually stablecoins like USDC will be accepted by all retailers and will work the same as fiat on all mastercard and visa cards. If you take a loan you didn't sell anything, so there was not trade and there is no tax.

The majority of banks and world economies will keep their neutrality, recognize this as a form of resource, but will not provide full support, this is obvious. Why lose the money-making cow leash, the printing press. World banks will start making their digital money, transferring it to the area of virtual money, moving away from a real printing press to virtual emission.

For me personally, it is not yet entirely clear what rules are needed for the entire cryptocurrency. But at first glance, we can say that the rules are definitely needed, since the well-being of all cryptocurrency holders depends on it. And at the moment, each country already has its own laws on the use of cryptocurrency. I believe that you just need to be aware of all the events and not miss the news about the further development of the cryptoindustry.

for countries that have legalized Crypto of course they already have regulations about it, for example El Salvador, they are the first country to legalize crypto in their country and of course government regulations on crypto have been applied to their citizens.
I think countries that want to publish regulations on crypto should be able to adopt from the country of El Salvador

Crypto has been a threat for some countries for some time now and will continue to be. We have to know that USA will do anything to protect their dollar, which is still a major currency when it comes to trading around the world. They certainly don’t want to lose their monopoly to any other currency. Same goes with China and their market share, I don’t think we will ever see acceptance from most powerful countries. 

Tighter regulation doesn't matter. If desired, the cryptocurrency can be completely anonymous and decentralized, it is technically possible and nothing can stop it. As well as the existence of the darknet, there will always be a decentralized cryptocurrency. Nothing prevents you from making P2P transactions. The regulation will not in any way affect the algorithms of bitcoin, its performance and the ability to conduct transactions.
Attempts at regulation will lead nowhere globally. Those who use cryptocurrency for bad purposes (drugs, weapons, etc.) will definitely not go through KYC on Binance or other platforms. The restriction includes ordinary people who are partly not very knowledgeable about cryptocurrencies and possible operations with them.
No regulator will be able to completely take control of this virtual cryptocurrency world, and this is very pleasant.
I think the crypto community slightly overestimates the importance and danger of regulators, they will not be able to do anything. I am deeply convinced that now in the crypto world there are complete decentralized analogs for centralized services, and there is no need to send your data to someone. It is enough to have access to the wallet and maximum email.
Attempts at regulation are nothing more than speculation.
Residents of China or the United States also do not interfere with carrying out operations with cryptocurrencies. And the fact that this is considered a violation of the legislation of these states does not mean that this legislation does not violate your rights. You should always remember that your interests and freedoms are much more valuable than social and legislative ones.

Perhaps, we don't need them either. Crypto will grow without their support and in fact, we've been in the situation before that nobody even to recognized the benefits we got from Bitcoin. But among those countries you have mentioned, only China ban crypto while the others are welcoming crypto in their place. It can happen that they could never just ignore Bitcoin forever and sooner or later, China will look it back and accept crypto again.

Regulation does not limit decentralization, it's just that regulations regulate some that need to be added, on the one hand regulation provides a sense of security to invest, on the other hand the more different regulations, the harder it is for crypto to develop, considering that other countries will apply different regulations, and this will limit crypto in making non-binding decisions, crypto attitudes will definitely change if there are different regulations.

in my opinion a cryptocurrency was built with the primary purpose of being decentralized and distributed, two very important qualities that could make or break crypto regulation. by being decentralized, Bitcoin doesn’t have a single controlling entity. The control is shared among several independent entities all over the world, making it nearly impossible for a single entity to wrangle full control over the network and manipulate it as they please.

I don't think cryptocurrency regulation by governments will centralize it because crypto is built for decentralization, and it is ultimately difficult to regulate decentralization. It is difficult for governments to understand how it works, and so they do not know what they are doing. People who put in effort into understanding the technology will succeed in regulating it, but I don't think government regulation will solve this problem.!!!

This does not mean that most countries will not succeed in issuing a regulation for cryptocurrency, but rather they can build an organization that contributes to the growth of decentralization!!!

Cryptocurrency is a new kind of currency. Countries should build new organizations that contribute to the growth of cryptocurrency, and start with those things that can be put into technology. The leaders of those organizations would make efforts and regulations and policies for cryptocurrency and at the same time try to support local economy and people, building it up from the bottom. And if they do this correctly, then countries will succeed in regulating cryptocurrencies.!!

In my opinion, El Salvador is not the best example. I don't know if you watched the situation in this country after the legalization of cryptocurrencies .. Unfortunately, there was a lot of controversy there. There are many suspicions that the government of this country has used the legalization of cryptocurrencies to defraud money.
The regulations will be introduced gradually, but I think it will continue for many years to come.

Currently, we can do whatever we want with cryptocurrencies until the very moment when we want to transfer our crypto capital to fiat. Then we immediately fall under the strict control of the state machine.

I get that there will be a lot of people coming after bitcoin and crypto, but as long as we get it legalized then I do not care about the infighting of a country. That alone itself is not a good enough reason to attack crypto, it is a good reason to attack the president but nothing to do with crypto.

So by logic, if the other side saying "president is using crypto to defraud people" then simply elect someone else or impeach the one you have right now, that way crypto can stay, it will be there forever but the bad person will leave. I do not know if their president is actually doing it or not, all I am saying is that president defrauding using crypto is not a bad thing about crypto, if not for crypto then they could have done it with fiat just like everyone else. Our nations president defrauded the nation for hundreds of billions of dollars, never used crypto at all, same logic.

And thats the only chance on where government do really able to get in touched with crypto market is on to regulate those platforms because people would tend up to end with converting to fiat which its just
really a very common end of the line.

So as we do go further on upcoming years to come then expect for something like this to happen because this would be the only way that they could get taxes or regulate people
who are involved on it.

Which we do see on today that exchangers are slowly becoming centralized and asking for some KYC into its users.

it becomes a serious conversation because nowadays, cryptocurrencies are much more developed than the last few years. it's a natural thing considering that crypto developments are very large in society. the creation of new regulations can make people who are interested in cryptocurrencies to be careful and selective in choosing crypto, because some of these regulations are likely to discuss the risks of cryptocurrencies.
regarding decentralization or not, it depends on the type of cryptocurrency involved, because there will be crypto that will still have a decentralized and centralized system. it's just that, specifically for bitcoin, I think it will forever be decentralized.

Yes regulations should come on crypto, it will increase some good things in cryptocurrency world. People who always want to invest in crypto don't get fear when government making rules on crypto. We know there will no contol of anybody so government can accept Bitcoin or other crypto as payment mode. Matter like crypto world's governments should make a single guidine on how to use or how we control.

If any country pass some regulation in their country for cryptos so the exchanges will have to follow the regulations of that country so this way one can not say he is anonymous because when regulation is implemented exchanges will ask us for KYC to withdraw the funds or to fund the Ac so this way your details can be accessed by the govt If you are not paying the tax one can be tracked easily. If the cryptos will be regulated the effect of regulation will reduce the volatility of the market in my opinion.

That's why bitcoin is developing to date, those two main goals are what support bitcoin to be more stable than other cryptocurrencies, no third party authority can fully regulate bitcoin, that means bitcoin grows only because of the development and interest of people, single controller will only play the issue important in the development of bitcoin, so that no other authority can influence bitcoin not to be centralized, this is what keeps bitcoin at such a high price to this day.

Cryptocurrency regulation works differently in most countries. Do we cryptocurrency is being regulated in the United states, is not the same way that it is being regulated in Canada, United Kingdom, and other countries. So, it all depends in the country that you are living. And the way these countries sees Bitcoin is different from each other: take for example in the United Kingdom Bitcoin is seen as a property, but not as a legal tender. Then in the United States some agencies sees it as an asset, and some sees it as a security.

Most of them do regulate cryptocurrency, but I don’t really think that they can have the power over exchanges that are decentralized. Only centralized exchanges are the ones who register with the government agencies and are being regulated. So I don’t think this is going to affect bitcoin's nature of decentralization.

That's the good side of crypto being regulated.

But we have to understand that from the very start, there's no governing body that controls cryptocurrencies.

And that's why we're all equal on this market and there's no center for it. Now, that governments are becoming involved, it is what it is and that's part of the adoption growth rate.

don't forget that regulations can bring some unpleasant features. for example, total KYC and restrictions on the transferred amounts of crypto. also there may be tough tax controls on all crypto incomes.

"Bro", even with the government regulation, scammers are still there. Even outside crypto, scammers are still robbing people's money without their knowledge and they were not caught ever.
Of course taxes will be there, since most likely people would rake some income from it and IRS wouldn't just sit around and let that happen.

What we are talking about here is about the legalization of digital currency in a country, as I mentioned earlier that the country of El Salvador was the first country to legalize digital currency and also they already have a legal basis for their citizens to conduct transactions with digital currency. Well, we don't need to look at the negative side of that country. what we need to pay attention to is how in the country of El Salvador can apply government rules in regulating cryptocurrencies ??I think this is an appreciation run by El Salvador in the Digital era as it is today

Cryptocurrency has a lot of coins that are in a good position now. The results will be available in front of me. I think cryptocurrency is Will do something good up front

I think more and more country would adopt the usage of cryptocurrency as their part of business, however some countries would think it's advantages and disadvantages to their economy, meanwhile for some countries that aren't going to accept cryptocurrency maybe they just leave it behind but some of other countries would allow cryptocurrency and makes a regulation that their country would also benefit from it.