Pros and Cons to Government Regulation

[worldtraveller321]

Eventually its going to happen fully. What are all your thoughts to pros and cons.

One Pro i can think off, is it would reduce the number of scammers.

Cons, could be a cap to how much you can make?
less privacy.


Now your turns

[ebliever]

Cons:
Decreased privacy
Increased costs to Bitcoin businesses and exchanges that need to be passed on to the customers.
Increased work to comply with regulations by each customer (tax paperwork, KYC forms, etc.)
Potential shutdown of innovative ideas and solutions that conflict with the regulatory regime.
Increased tax assessments used to transfer wealth (buying votes, lining pockets), feeding political corruption.

Pros:
IF done right, better chance of preventing scams and catching scammers.


My thought is we already have laws against fraud and thievery. We should be very selective about what additional laws are passed that are particular to cryptocurrency. I'm not blanket anti-regulation, but I'm very skeptical.