Cryptocurrency regulation?

[Ozero]

No doubt about the future of fiat money: it's gonna be replaced by cryptocurrencies.
But does virtual money need a REGULATOR?

No, cryptocurrency is not able to replace fiat. National money of the states will continue to exist for a long time in the foreseeable future. In any case, no state will ever give up its national money. And the population of different countries is not as fast and not as massive as many people think, they will switch to the use of cryptocurrency. So far, as long as there are states with conflicting interests on our planet, until then there will be national money.

[Argoo]

No doubt about the future of fiat money: it's gonna be replaced by cryptocurrencies.
But does virtual money need a REGULATOR?

No, the cryptocurrency is simply not capable of replacing the national money of the states. Individual citizens can completely switch to the use of cryptocurrency, if they have it, of course. However, no state will ever give up their national money in favor of a decentralized cryptocurrency. This will quickly lead to the unbalancing of the economy of any strong state, since the decentralized cryptocurrency actually has no relationship with the economy of any state.
When there will be a single world government on Earth, only then fiat can be replaced with a cryptocurrency, and that, subject to the availability of a certain level of technical progress and a high level of incomes of citizens.

[sijonru]

I doubt if cryptocurrency will replace fiat but these two will instead coexist in the years to come. Most of the fiat used today by every country are their national currency and it is considered one of the important symbol of evey nation. Regulation might only imposed on cryptocurrency exchanges that are centralized and I think it is not possible to regulate cryptocurrency because they are decentralized and can't be controlled.

Cryptocurrency was created to  digital transactions, where the way it works is peer to peer so that it does not go through third parties even though it is under government control like the central bank.
This transaction process is very fast, precise and safe. That is on the one hand in theory. But in practice there are many problems, such as bitcoin theft, fraud, even misused for criminal acts.
Therefore, in due course the cryptocurrency will be regulated by each country so that it is not too detrimental if there is a problem. Because something happened on the internet, the government cannot control it.

[MakeMoneyBtc]

No doubt about the future of fiat money: it's gonna be replaced by cryptocurrencies.
But does virtual money need a REGULATOR?

No, cryptocurrencies don't need a regulator and I am sure people are not expecting to see that since they are using cryptocurrencies especially because they want to get rip of all the manipulation of governments over the economy and banks.

[idham29]

I doubt if cryptocurrency will replace fiat but these two will instead coexist in the years to come. Most of the fiat used today by every country are their national currency and it is considered one of the important symbol of evey nation. Regulation might only imposed on cryptocurrency exchanges that are centralized and I think it is not possible to regulate cryptocurrency because they are decentralized and can't be controlled.

Cryptocurrency is very difficult to be controlled by the state so it is alleged to be a hiding place for criminal money, such as money laundering and drug trafficking.
This is inseparable from the anonymous factor possessed by cryptocurrency, so many governments prohibit it from being used in their country. The regulation to regulate cryptocurrency must be an option that must be run if it will legalize crypto, so that there are benefits that can be taken by the government.

[CoinGate]

Cryptocurrency regulations are getting there slowly, but steadily. For example, the European Parliament adopted the 5th AML Directive which will soon go into force and redefine how cryptocurrency-related companies in Europe will have to mitigate the risks associated with terrorism financing, money laundering, human trafficking and so on. It means that exchanges, crypto brokerages and similar companies will now have to use blockchain forensics tools and perform more extensive due diligence on their customers.

In a way, it legitimizes cryptocurrencies in the eyes of governments, creating a legal basis on how cryptocurrencies should be perceived and treated in Europe as they gain more and more traction, meaning it won’t be that easy to exploit crypto-related services to perform illicit activities or, more importantly, exchange crypto to fiat anonymously. We also have in-depth blog post regarding regulations in crypto: https://blog.coingate.com/2019/02/aml-compliance-bitcoin-adoption/

[Argoo]

No doubt about the future of fiat money: it's gonna be replaced by cryptocurrencies.
But does virtual money need a REGULATOR?

There is no doubt that the national paper money of the states will remain in the near and distant future. Cryptocurrency, especially decentralized, can never replace the national money of the states. It is not intended for this and is not capable of it. States will never refuse to use their national money, because they are a reflection of the state’s economy and interact with the economy. Cryptocurrency in general can not be tied to any state economy.

Agree, I also think that fiat will never be replaced because the government will always manage fiat to exist. but regulation does not mean crypto will replace fiat right? regulations are made so that crypto is free to use without any restrictions and I think it will be applied in the future

Of course, the regulation of cryptocurrency does not mean at all that it will replace the national money of the states. Regulation of cryptocurrency is inevitable and necessary and, as a rule, it means determining the official status of cryptocurrency, establishing the order and conditions of its circulation within the state and solving the issue of taxation of this type of activity.
I also agree that cryptocurrency will not replace fiat with itself, it is simply not capable of it. It will go along with other types of ordinary currencies and they will complement each other's capabilities.

[zahed]

The concept of cryptocurrencies is based on trust. If it is fully implemented in all aspects, there is trust within the community and technical solutions applied to provide the security of network, then there will be no need for centralised control.

Got your point. But what about security? I constantly hear about hackers who steel tons of investor's money...

And goverment won't give up its influence easily. USA, Canada and some european countries tend to establish their rules on cryptocurrencies.

Several countries adopted cryptocurrency but those countries people 100% secured in crypto? I mean they will never be hacked or steal money by hackers? I think one one can't be safe in here, highly risked in cryptocurrency that's why beginners mind exist negative hype.

[Kasabus]

At some extent, it required if we considered cryptocurrency as a long-run player then regulation might be needed

It will be a long run player, the government will evaluate the entire market to measure how big the adoption of crypto is and then they make a decision whether to start regulating it or wait for a bit.

This market is a billion dollar market already and I think it calls for a regulation already, scams in the market will be minimize once regulation will take place, at the start I don't agree with regulation as it might compromise our privacy but due to rampant scamming in ICO, it's needed to be done now and I fully support it.

[senin]

No doubt about the future of fiat money: it's gonna be replaced by cryptocurrencies.
But does virtual money need a REGULATOR?

There is no doubt that the national money of states will exist as long as the states themselves exist. Also, cryptocurrency can not force out cash. Only the governments of specific states can decide to abandon their paper money. However, non-cash forms of national payments will always exist. Cryptocurrency actually cannot have a significant impact on the national money of the states, they will exist in parallel with each other and complement the capabilities of each other.