Crypto Regulation and what it means for the future of crypto currency

[Pokapoka124]

It was once believed that bitcoin was anonymous and can't be traced. This isn't quite true since bitcoin is pseudonymous. Secondly, exchanges are under pressure from regulators to introduce compulsory kyc for their customers. Also binance sent a message to its US based customers to stop trading on their platform because their account will be banned. I'm not sure if this has been executed by Binance. Crypto tax is a growing discussion across nations which allow crypto transactions.  
What are your thoughts on these regulations? Do you think it defeats the purpose of bitcoin's creation?
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[SpanishSoldier]

What are your thoughts on these regulations? Do you think it defeats the purpose of bitcoin's creation?

No one can ever regulate a public blockchain like bitcoin. All regulations will be at FIAT juncture. That'll filter out shady players, which I believe, is good.

[GbitG]

There is seemingly a growing desire by government to regulate cryptocurrency. It was once believed that bitcoin was anonymous and can't be traced. This isn't quite true since various techniques have been formulated to trace the transactions and discover the owner. Secondly, Exchanges are under pressure from regulators to introduce compulsory kyc for their customers. Also binance sent a message to its US based customers to stop trading on their platform because their account will be banned. I'm not sure if this has been executed by Binance. Crypto tax is a growing discussion across nations which allow crypto transactions. 
What are your thoughts on these regulations? Do you think it defeats the purpose of bitcoin's creation?

Right now we are facing some serious talks about this all in few countries they are bringing some laws and regulations for bringing this all in network of taxes for this all biggest thing is KYC which mean all data of crypto users because this will give some good access to them so if few countries feel better with this all I believe its ok because still this will spread bitcoin and crypto which is not bad at all.

[Coyster]

There is seemingly a growing desire by government to regulate cryptocurrency. It was once believed that bitcoin was anonymous and can't be traced. This isn't quite true since various techniques have been formulated to trace the transactions and discover the owner. Secondly,

This is not true. It was never impossible to trace a Bitcoin transaction, the technology that Bitcoin runs on is transparent, and another misconception i want to correct is that Bitcoin isn't anonymous, but pseudo-anomymous, that's it's possible to track/trace the transactions and know the wallets addresses that sends as well as receives, but can't know the individuals behind those addresses, unless they give up their identities through third party services like centralized exchanges etc; having said that, there are also services such as mixers and coinjoin, that makes it impossible to trace a Bitcoin transaction.

What are your thoughts on these regulations? Do you think it defeats the purpose of bitcoin's creation?

Most centralized exchanges have always required their users to undergo compulsory KYC before they can trade on their platform, it's not really new and its up to you to protect your identity by choosing the service you use. As far as stricter regulations are concerned, I don't think the government can go farther than using centralized exchanges to trap people, that's why users who value their privacy choose P2p trade and wallets that they are in control of the seed phrase and private keys.

[pooya87]

There is seemingly a growing desire by government to regulate cryptocurrency. It was once believed that bitcoin was anonymous and can't be traced. This isn't quite true since various techniques have been formulated to trace the transactions and discover the owner.

Bitcoin is not anonymous but it doesn't mean the transactions can be traced back to the actual person that made them. That is simply impossible unless the person had knowingly created a link between their address(es) and their identity like joining some sort of centralized service and giving up their identity to them!

Secondly, Exchanges are under pressure from regulators to introduce compulsory kyc for their customers.

All centralized services specially those handling money have always been forced to implement KYC long before bitcoin was even created!

Crypto tax is a growing discussion across nations which allow crypto transactions. 

Not transactions, but trades.
That means when you only trade bitcoin to make profit, you have to pay a hefty tax. But if you are using bitcoin as it  was meant to be used (ie. as a currency) there is no tax.

What are your thoughts on these regulations? Do you think it defeats the purpose of bitcoin's creation?

The purpose of bitcoin was to build a decentralized censorship resistant global payment system and regulating some centralized services for traders is not changing that at all!

[Claudio99]

There is seemingly a growing desire by government to regulate cryptocurrency. It was once believed that bitcoin was anonymous and can't be traced. This isn't quite true since various techniques have been formulated to trace the transactions and discover the owner. Secondly, Exchanges are under pressure from regulators to introduce compulsory kyc for their customers. Also binance sent a message to its US based customers to stop trading on their platform because their account will be banned. I'm not sure if this has been executed by Binance. Crypto tax is a growing discussion across nations which allow crypto transactions. 
What are your thoughts on these regulations? Do you think it defeats the purpose of bitcoin's creation?

Regulating crypto exchanges which are the source of selling bitcoin for Fiats is different from regulating bitcoin itself, as a matter of fact it's not possible to regulate bitcoin itself because bitcoin is fully decentralized, centralized exchanges will have no choice but to go fully regulated and many crypto users who don't like the move will have to start using DEX only

[Yogee]

...Also binance sent a message to its US based customers to stop trading on their platform because their account will be banned. I'm not sure if this has been executed by Binance.

This is because they are supposed to trade on Binance US and not on "main" Binance exchange.

Crypto tax is a growing discussion across nations which allow crypto transactions.

Even when there were no regulations, traders and investors have deviated from the very purpose of bitcoin as pointed out by pooya87. If we were to dig the cause of all these tax regulations, it's down to people who used it as an investment vehicle.

What are your thoughts on these regulations?

I don't know if this gives a false sense of security to traditional institutions or traders from regulated markets like stocks or forex but regulation of exchanges and custodial services brought a positive reaction to the price it seems.