Yaneman
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September 05, 2017, 06:06:45 PM |
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In the long run, it is better that crypto is being regulated. It's something that will happen for sure, the only question is when.
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Jian Yang
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September 14, 2017, 09:11:48 AM |
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There is another big step towards market regulation. Canada following US and Singapore claims that any coin during ICO/ITO to be security. Staff Notice 46-307 issued by Canadian Securities Administrators reveals that many of the digital tokens investigated by regulators in Canada fall under the definition of a security, thereby triggering a range of legal requirements.
This means that Canada closed their boarders to almost all ICO campaigns. Will it affect behavior of Canadian cryptoenthusiasts? (Opinion of Canadian and US residents are highly appreciated).
What country is next to regulate ICO?
As a canadian, I don't personally feel threatened by this. Governments will always try and stick their noses into things they do not or cannot fully understand. I think the big thing that would be affected by it if it does ever pass into law, would be the exchanges that host the ICO/IPO's. Look at New York and how the laws passed by them on cryptocurrency (Bitlicense I believe it's called) have affected the exchanges and the users within New york. Some have gone as far as IP blocking NYC citizens from using their exchanges, or a warning page agreeing that you are not living in the state. Naturally this doesn't really affect them too much, VPN's and other loopholes/means to access and use the platforms exist, but I think the point is that world governments are starting to notice us, and if they are starting to place regulations around buying and selling, ICO's/IPO's, etc., then imagine another 5 years down the road. I think for now, there is not much to worry about, but in time we could face real problems. Governments everywhere have a tendency to get their greasy fingers into stuff they shouldn't... Mistercoin-- Are there any precedents of punishment in Canada for breaking laws on crypto market?
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slaman29
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September 14, 2017, 09:18:33 AM |
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Russia is the likely option, but actually, next could also be India, as it has already been in the news that its central bank is looking into ICOs. After China, India is the biggest country population wise. In terms of global population, China and India already equal about one-third of the planet's people. Remember, this is not about regulating cryptos but ICOs, which will be a good thing for everyone in crypto. Once it is no longer seen as a threat, people will recognise the difference between crypto as a tech and ICO as one of many funding vehicles.
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asepsetiawan1990
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September 14, 2017, 09:28:13 AM |
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each country has different reactions to ICO. The regulation provides an illustration that ICO or Token in ICO is something that is considered to have an opportunity seen in terms of a negative perspective. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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baam25
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September 14, 2017, 09:59:12 AM |
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Nothing is confirmed how come everyone is talking like it's a done deal? If regulations do come in they will provide the crypto market with some much needed legitimacy.
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Paycoinzzz
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September 14, 2017, 11:48:50 AM |
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each country has different reactions to ICO. The regulation provides an illustration that ICO or Token in ICO is something that is considered to have an opportunity seen in terms of a negative perspective. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) To be honest recently, ICO market has changed many much and it does not keep nature of a type investment for long term or future. It look like as speculative, even a huge speculative place for speculators spend their money to invest into them.
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bryant.coleman
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September 14, 2017, 12:02:13 PM |
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In the long run, it is better that crypto is being regulated. It's something that will happen for sure, the only question is when.
I have to agree with you. For 5 years, I have argued with the users here in favor of government regulation of the crypto-currency. Some say that it will negatively impact the anonymity. But I tend to disagree. Anonymity can't be breached unless you convert your coins to fiat cash. Even if you want to convert your coins to fiat cash, there are a lot of anonymous options, such as pre-paid debit cards (Bitplastic is an example). The advantage with government regulation is that it will make easier for the institutional investors to purchase Bitcoins. Anyway, for those who love anonymity, there are plenty of other options out there, such as Blackbytes, DeepOnion and Monero.
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Arvydas77
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September 14, 2017, 12:07:43 PM |
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In the long run, it is better that crypto is being regulated. It's something that will happen for sure, the only question is when.
I have to agree with you. For 5 years, I have argued with the users here in favor of government regulation of the crypto-currency. Some say that it will negatively impact the anonymity. But I tend to disagree. Anonymity can't be breached unless you convert your coins to fiat cash. Even if you want to convert your coins to fiat cash, there are a lot of anonymous options, such as pre-paid debit cards (Bitplastic is an example). The advantage with government regulation is that it will make easier for the institutional investors to purchase Bitcoins. Anyway, for those who love anonymity, there are plenty of other options out there, such as Blackbytes, DeepOnion and Monero. Fully agree with you that anonymity could be preserved using just crypto except of exchange it to fiat. It makes sense to use BTC or ERC20 tokens pre-paid cards and gives an opportunity to such a projects as TokenCard, Monaco etc. to expand their business. If you are very scared of volatility and it is the only reason to exchange your coins or tokens, Bancor is in assistance here.
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Minecache
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September 14, 2017, 12:12:22 PM |
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Government regulation of crypto and ICO isn't bad. If world changes, if world's government regulation will become true the world coin cap will grow immideately because big money will come to this industry. I think forecasts about $2kB market capitalization in 1-5 years isn't dream! It's fact.
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redhack
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September 14, 2017, 12:15:34 PM |
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They can't ban so they try to regulate. That's not a problem. I hope we can get rid of these scam ICO's and only genuine ones left. There are too many scam ICO's popping out every day. They are heaven for money laundry purposes. It's not surprising governments want to clean up this dirty system.
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bryant.coleman
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September 14, 2017, 12:21:08 PM |
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Government regulation of crypto and ICO isn't bad. If world changes, if world's government regulation will become true the world coin cap will grow immideately because big money will come to this industry. I think forecasts about $2kB market capitalization in 1-5 years isn't dream! It's fact.
Market cap of $2 trillion is theoretically possible. If you look at the market capitalization of various NASDAQ stocks in 2000 (during the dot com boom) you can see that many of them had appreciated by as much as 1,000 times. The total market capitalization of NASDAQ in 1999 was somewhere around $5.2 trillion. If that can happen almost two decades back, then what prevents Bitcoin from attaining just one-fifth or two-fifth of that market cap in the next 5 years?
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Croin
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September 18, 2017, 09:38:44 AM |
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Actually did you guys mention that most lets say around 70-80% of all coin projects are actually from Russia or at least Russians? I mean look at Ethereum or Waves and the dozens ICOs running on them. Any Idea why it is like that?
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Casatokuser
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September 18, 2017, 10:01:57 AM |
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As I saw in the past lots of scam came and still come also from Russia. It let me become very cautious when too many Russian names are in an ICO team. I guess furthermore that they consider it as an easy way for money laundering as was mentioned before. Thanks to heaven, Europe is very slowly in regulating "Internet things", but it is of course no easy task. I bet everyone, except the scammers, would wish to see just honest ICOs but take a look at the stock exchanges. Even there's today lots of frauds that just taking investors money. Where money is, fraud would never be far.
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disam
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September 18, 2017, 10:19:12 AM |
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there should be some regulations about icos worldwide
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ammosov
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September 18, 2017, 10:44:28 AM |
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Actually did you guys mention that most lets say around 70-80% of all coin projects are actually from Russia or at least Russians? I mean look at Ethereum or Waves and the dozens ICOs running on them. Any Idea why it is like that?
Waves is a derivative of a single enterprising NYC venture fund and is so far used by its portfolio companies only.
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bitcoinvestor
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September 18, 2017, 12:50:59 PM |
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THAT 's better because we can invest in legit and trusted ICO. There will minimize scam ICos that take away our cash. Scam ICOs make CHina and other countries Ban ICOs at all. That the worst thing in ICO of the year ever in 2017. I hope in 2018 there will be trusted developers, real projects, and better coins.
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cdb1690
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September 21, 2017, 04:24:00 PM Last edit: September 21, 2017, 06:31:45 PM by cdb1690 |
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there should be some regulations about icos worldwide
The question is how would governments enforce such regulations. I can imagine that Bitcoin breaks several laws in several legal jurisdictions, but governments can't do much about it because due to its decentralized nature, there's no some specific target (person or legal entity) government can go after. You see governments targeting crypto to fiat exchanges, precisely because exchanges are legal entities registered in some jurisdiction. But in the end, this won't stop Bitcoin. It certainly affects its price, but it won't stop it. Back to ICOs. If I were to anonymously create a new ERC-20 token through a smart contract, promote it over at 4chan and sell it off in ICO style, who's gonna stop me? Who's gonna bring a legal action against me? If some government declares my token illegal and ban its trading, how are they going to enforce that? Ban 0x protocol? Good luck with that. I don't like regulation in general the people have their heads and should decide themself what they want and can do or what they can't.
Exactly. Do you own homework. Don't rely on your government to protect you from strange danger on internet. It seems to me that everyone here wants 1000x profits without any associated risks and that's not how the world works. Moreover, as a investor I really don't give a sh.t if my investment fails due to team's inability to deliver promised product or if I lose my money due to ICO being the scam. That fact that I might be scammed just makes me more selective that's all.
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Casatokuser
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September 22, 2017, 08:29:45 AM |
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I fully agree with your arguments, that one must do his own research on the one hand. There won't ever be a 100% safety for investors. At the stock exchanges, there is, despite high regulatory, much fraudulent behavior.
Currently, we can spot the development in the ICO sector, which lets me hope we are on the right path.
In former times, just a page with nice numbers and partly idiotic concepts was enough to collect money (best example UET). But projects must present more and more reliable concepts, whitepaper and team members to get investors trust. The stupid greed of some investors might be enough fed someday, that even these ones start thinking before investing.
I just hope that good and trustworthy projects won't suffer under this dev.
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Filmmmakerr
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September 22, 2017, 08:36:31 AM |
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All these ICO regulations will only do one thing for all the existing coins, make them sky rocket.
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Spoetnik
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September 22, 2017, 08:39:35 AM |
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My country should ban them.. not regulate them. ICO = SCAM. They are hollow pointless bullshit for Bitcoin (FIAT) profits. ..not crypto-currencies (like Bitcoin) And yeah every time there is bad news all of you here line up to twist it into good news. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) I know i have posted a lot of it here over the years LOL
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FUD first & ask questions later™
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