Cryptocurrency regulation?

[Gradus728]

and by the way, it is already possible the resumption of the crypto-currency trade in China can lead to an increase in the cost of bitcoins to $ 10,000 dollars.

The Chinese government and the Central Bank of China may well resume trading in crypto currency in the near future.
The restoration of exchange trade in China can be evidenced by the fact that the mouthpiece of the Chinese government, Xinhua News Agency, has already expressed concern about the migration of the crypto-currency trade to the off-exchange sites and to the informal sector.

[Taki]

Ask yourself why governments are in such pissimistic moods about digital money? It started to be used in illegal activity and people scam, everything due to nobody regulate it.
Yes, regulation of crypto currencies may take those things that we love about it, but at the same time it will give to us more protection and safeness.

[darylalban]

Truly decentralized currency means it doesn't need a regulator. But how will taxes work? Unless it's automatically deducted when the transaction processes. Then we'd be fully utilizing smart contracts lol

[marcbitcoins]

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

I always doubt that fiat money can be replaced by digital currencies because of the main reason that not all people know how this digital currencies will work. Not all people know how to use computers and other digital technology transactions unlike fiat even children knew how to use the paper money but i support the regulations because i believe it will just to protect the welfare of the people from fraud and scams.

[senne]

Ask yourself why governments are in such pissimistic moods about digital money? It started to be used in illegal activity and people scam, everything due to nobody regulate it.
Yes, regulation of crypto currencies may take those things that we love about it, but at the same time it will give to us more protection and safeness.

Governments are simply in pessimistic mood about cryptocurrency because they will not be able to track a particular user income and till now they cannot find proper rules and regulations which can help both user and government and they can’t afford to lose taxes in any ways.

But, regulations in crpto will simply take away the base things like anonymity, then what will be difference between crypto and government based virtual currencies. Regulations should only be constructed in such a way that the power of cryptocurrency remains the same and at the same time scam and illegal activities are reduced by some methods.

[ORCAf]

I believe regulations will come whether we want it or not. Simply too much money is being thrown into crypto market and governments are not especially interested in not getting their share to start with, also, our governments are there to protect us (or at least they should be) and there is very little they can do in a current situation, when cryptocurrencies are not fully "accepted" and regulated. You can't go to police and tell them someone stole your bitcoins. Well, you can, but the help is very limited since they have no clear definition of what cryptocurrencies really are. What I think we need, is a unanimous view on them and regulations that are beneficial to both parties - the crypto community and the government. It has to be a win-win situation, otherwise there is just no future for crypto. Responsible organs might issue bans and other stupid stuff to 'get rid' of the 'problems' with cryptocurrencies and that is something we all don't really want, right?
Therefore, the only reasonable way to 'fight' the regulations, in my opinion, is by being involved when forming them. We gotta come up to a consensus with governments and create a safe and sustainable environment for cryptocurrency adoption.

[Coffee135]

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

I always doubt that fiat money can be replaced by digital currencies because of the main reason that not all people know how this digital currencies will work. Not all people know how to use computers and other digital technology transactions unlike fiat even children knew how to use the paper money but i support the regulations because i believe it will just to protect the welfare of the people from fraud and scams.

As the transition to electronic money can protect you from fraud? Any technology created by humans and therefore there is always the possibility that some people will come up with the technology hype. The fact that there are people who can't learn to use e-money is a prejudice. Those same kids know how to use the gadgets better than we do. I see no problem to switch to electronic money.

[Gradus728]

it's all right, about the fact that there are people who do not even have basic computer skills. What will they do then?

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

I always doubt that fiat money can be replaced by digital currencies because of the main reason that not all people know how this digital currencies will work. Not all people know how to use computers and other digital technology transactions unlike fiat even children knew how to use the paper money but i support the regulations because i believe it will just to protect the welfare of the people from fraud and scams.

[migolmigol]

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

I disagree that fiat money will be replaced by cryptocurrencies because what we are talking about here is just like requesting to government for them to loose the control of the money supply. No matter how much I support Bitcoin and cryptocurrency, I am still weighing the benefits of having to remain the fiat money. I mean Bitcoin helps circulates money but it can not totally replace the fiat currencies.

[minthit]

The answer is, even if it needs a regulator, who will be? Because, it started as decentralized, nobody wants to break it, everybody loves the idea. Technically, it may even be impossible (I don't know much about the technical aspects though). I think current fork is also slightly, if not totally related about this. People reject even if there is a slightest sign of authorization.

[Lancusters]

The answer is, even if it needs a regulator, who will be? Because, it started as decentralized, nobody wants to break it, everybody loves the idea. Technically, it may even be impossible (I don't know much about the technical aspects though). I think current fork is also slightly, if not totally related about this. People reject even if there is a slightest sign of authorization.

I think you are mistaken. I read a lot of posts on the forum where people themselves want the government to set transparent rules for the use of cryptocurrency. I do not share this idea, but what a lot of people wishing this fact. It seems to me that people don't understand the idea of creating a bitcoin and therefore think. It seems to me that any state intervention can turn a bitcoin into electronic Fiat. It will be the end of bitcoin.

[Gradus728]

Bank of America filed three patent applications for the use of blocking technology to track and validate the identity of users, and validate changes in the identity of users.

[minthit]

The answer is, even if it needs a regulator, who will be? Because, it started as decentralized, nobody wants to break it, everybody loves the idea. Technically, it may even be impossible (I don't know much about the technical aspects though). I think current fork is also slightly, if not totally related about this. People reject even if there is a slightest sign of authorization.

I think you are mistaken. I read a lot of posts on the forum where people themselves want the government to set transparent rules for the use of cryptocurrency. I do not share this idea, but what a lot of people wishing this fact. It seems to me that people don't understand the idea of creating a bitcoin and therefore think. It seems to me that any state intervention can turn a bitcoin into electronic Fiat. It will be the end of bitcoin.

From my understanding, the point is the same. Not many people want bitcoin to turn into electronic fiat. Regulations of the use of cryptocurrency by government is another part. But for BitCoin alone, who will regulate it? Devs? They can't even reach a consensus for now. I think it's the biggest challenge Bitcoin is facing.

[MiF]

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

I dont believed that fiat will be replaced by the digital currency because not all people know how to use bitcoin transactions. Most of the people specially from the 3rd world countries dont even know how to use the computers due to poor education but i support the regulations because i believed it will protect the use of digital currency from bad elements like the money laundering in which it may harm the people and put the nation at risk if every local transaction cannot be monitored.

[bakerlisa510]

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

Virtual money is just based in the value of the coin given by the people those who trust the system of blockchain!
If there is nothing in the world that would break the chain or disrupt it than everyone else will also be able to trust the Virtual money,
It goes as in big brands as well!
at first the iphone was just another phone with ununderstndable features which was trusted by a few number of people but see nowadays 

[gyu22]

One of the key stakeholders for regulation are obviously the states and the executives of central banks. Thus it is interesting to pay attention at what they say and Singapore has recently indicated they are not in favor of regulation.

"The chief of Singapore's central bank has indicated it will not regulate cryptocurrencies, but plans to stay watchful on the risks posed by the technology.

In an interview with Bloomberg, Ravi Menon, managing director of Monetary Authority of Singapore (MAS), said he currently sees "no basis for wanting to regulate cryptocurrencies," adding:

    "It is a known fact that cryptocurrencies are quite often abused for illicit financing purposes. And so we do want to have anti money laundering controls, countering the financing of terrorism controls in place. So those requirements apply to activity around cryptocurrency rather than the cryptocurrency itself."

According to Menon, the central bank is working on to "formalize" rules for digital currency intermediaries like exchange operators in order to curb money laundering and other criminal activities. "

Full: https://www.coindesk.com/singapore-central-bank-chief-no-regulation-for-cryptocurrencies/

[Lieldoryn]

How can you blame cryptocurrency is that people use them for illegal purposes. Bitcoins are only 1% of the population. 99% use Fiat. There is no point in asking which is more used in illegal transactions Fiat or cryptocurrencies. May be to prohibit Fiat money? Lol! State attempts to regulate the cryptocurrency market is only the desire to take our money.

[Temik2704]

Bank of America filed three patent applications for the use of blocking technology to track and validate the identity of users, and validate changes in the identity of users.

Is it possible to track Monero users for example? Or any other crypto with technology of high anonimity? Zcash also.

[bitalive]

governments around the glove is trying to regulate - failed (yet).

[sukamasoto]

How can you blame cryptocurrency is that people use them for illegal purposes. Bitcoins are only 1% of the population. 99% use Fiat. There is no point in asking which is more used in illegal transactions Fiat or cryptocurrencies. May be to prohibit Fiat money? Lol! State attempts to regulate the cryptocurrency market is only the desire to take our money.

Some country decide to regulate bitcoin mostly for security reason. For example, the government able to control bitcoin supply or even trace down bitcoin transaction or apply tax every time people use bitcoin.
I think China will regulate bitcoin and will able to use bitcoin once again !