European Union official suggests that Bitcoin will not be regulated

[dewi91]

bitcoin will not be regulated because there's no country can control bitcoin.. bitcoin is decentralized and I think bitcoin does not require regulation.. without regulation bitcoin still strongly and day by day bitcoin users are more increase..

[LeGaulois]

Things are going to change after the next G20, as cryptos will be one of the topics in the next meeting and from what I saw it won't be in favor of Bitcoin and other cryptos.

If you think Europe can't regulate Bitcoin then you are somehow wrong. Every European citizen know how banks are so good to trace, regulate, automate, exchange information and so on... When you receive a bank transfer from an exchange, don't worry the automated system knows perfectly what you're doing

[dothebeats]

Things are going to change after the next G20, as cryptos will be one of the topics in the next meeting and from what I saw it won't be in favor of Bitcoin and other cryptos.

Exactly. With the recent boom of cryptos, G20 would do everything in its power to protect the best of their interests and try to intervene in the game before it goes out of their control. Banks first and foremost wouldn't love losing money because everyone else is switching to crypto due to it being unregulated and bringing in potential profits. One way or another, there would be a regulation they'd enforce, and that is for sure.

If you think Europe can't regulate Bitcoin then you are somehow wrong. Every European citizen know how banks are so good to trace, regulate, automate, exchange information and so on... When you receive a bank transfer from an exchange, don't worry the automated system knows perfectly what you're doing

Which is why Europe not regulating cryptocurrencies in the near future is too good to be true, because it hurts the interest of their good ol' banks that feed them with fiat and other aids.

[Don Pedro Dinero]

European Union official suggests that Bitcoin will not be regulated

That statement is deceiving and you should have backed it with a source. Bitcoin has been regulated in most Countries in the European Union. What is missing is a global comprehensive regulation, but regulations are already there. I live in a EU country and I wish it wasn’t regulated so I wouldn’t need to pay tax, but I think in the long-term, if bitcoin is going to be massively adopted, strict global regulations will come.

[player514]

Regulators in Europe have tried to pressure the European Commission to put Bitcoin under a magnifying glass in one way or another. However, there are other characters that sometimes make us believe that these efforts are over, at least for now.

This HAS to be temporary. There's no way that they're going to stick to this statement if everyone ends up using Bitcoin. Think of all the taxes that would be evaded and all the fees bypassed. There's no way any economy or government would let that happen. If bitcoin continues the current growth, I feel like it's going to be a problem that European regulators will have to deal with in 2018. There's really no way to get out of taxes even though people continue to try to find one.

[audaciousbeing]

Regulators in Europe have tried to pressure the European Commission to put Bitcoin under a magnifying glass in one way or another. However, there are other characters that sometimes make us believe that these efforts are over, at least for now.

Regulators pushing for that might not have headway at this time but eventually it will still get to that point because the regulation is a sure thing that will be happening. The relief that the unnamed official is trying to pass along can only be temporary because at a point European Union would eventually be forced to take a position.

Today,  crypto card services are not expanded beyond citizens within the EU which shows the amount of movement of funds in the crypto world that would be going on courtesy Visa and MasterCard by the time this people give the statistics and supported by the projections of the what likely its going to be in few years, they will be forced to regulate.

[ajmapalo22]

Bitcoin is hard to regularized because its a global currency and hving this regulated means one government will take the lead of owning this digital currency. I think even after do many years no country will be able to established control over bitcoin and will never get the opportunity to regularized bitcoin we will only end up having bitcoin in our market as a decentralized currency

[ricardobs]

Regulators in Europe have tried to pressure the European Commission to put Bitcoin under a magnifying glass in one way or another. However, there are other characters that sometimes make us believe that these efforts are over, at least for now.

Bitcoin is mostly use by people all around the world due to its anonymous behavior and because it is very difficult to track its transactions. DO I don’t think it is so easy for European or any other government to reach bitcoin or stop its flow in the country as it is already stated as anonymous coin which means no on will be able to track your transactions. This technology is fully developed to secure the transaction which happen in the block.

[100kk]

Regulators in Europe have tried to pressure the European Commission to put Bitcoin under a magnifying glass in one way or another. However, there are other characters that sometimes make us believe that these efforts are over, at least for now.

Over time, all countries will have to decide on ways to regulate bitcoin and other cryptocurrencies.

[newinbtc]

Regulators in Europe have tried to pressure the European Commission to put Bitcoin under a magnifying glass in one way or another. However, there are other characters that sometimes make us believe that these efforts are over, at least for now.

its very difficult to implement the tax on bitcoin On particular person. we can change the addressee in few seconds , Then it will be impossible to trace where It come and where gone. When Bitcoin mixer service is here Then Other Criminals use Bitcoin To Transfer From one place to another place in few min rather than paying cash.
Indian govt. is also not ready to regulate , they are currently saying keep away from bitcoin if you lost funds do not blame us. And they are charging 30% tax on capital gan currently

[hase0278]

Over time, all countries will have to decide on ways to regulate bitcoin and other cryptocurrencies.

That time is sure to come and is drawing near since there will come a time when btc and crypto would be used massively in crimes and in money laundering, more than how it is probably used by some to do the same act covertly and it will happen in a bigger scale. By that time, government's would have to find a way to regulate cryptocurrency use one way or another to prevent or minimize those acts.

[won99]

I think to regulated bitcoin must be prepare and many steps to regulated bitcoin, so it is little possibility to regulated bitcoin. Ni doubt with any chance and always fo the best

[gantez]

I also think that it would be a difficult thing to regulate the use of bitcoin because of the nature of bitcoin. Bitcoin is not a bank related affair, decentralized and peer to peer. Even some investors can avoid to use the bitcoin cards where it is available. So, tracing it will be difficult.

[audrey12]

I think governments will really put their eyes towards regulation with regards to bitcoin as well as all other crupto currencies especially now that they see how these currencies greatly affects the economy. They are afraid of the time that they will lose control over the fiat and that the technology of bitcoin will dominate the market. I hope bitcoin will able to overcome those trials

[BartS]

I think there are two main opposing forces, here.

#1 Bankers, credit card companies, paypal and similar entities who want bitcoin regulated or banned to reduce competition in the banking and electronic transaction industry. These demographics lobby politicians to legislate anti-bitcoin laws.

#2 Wealthy investors, speculators and businessmen who do not want bitcoin regulated. I would guess the Winklevoss Twins and other wealthy demographics who wield political influence oppose bitcoin legislation.

Of course, there could also be a 3rd demographic consisting of activists, bitcoin supporters, economists and others concerned with deficit and debt in our world, who do not want bitcoin regulated. They know a regulated bitcoin could possibly carry restrictions which would prevent it from being an effective store of value in the event of default and hyperinflation.

Its interesting to note how bankers and investors could be split on this issue. Their goal has historically been to show a united front to the world. If they begin to oppose each other on issues and engage in conflict, things could get interesting(and messy).

This is because this is the first time in a long time in which the emission of money has been separated from banks and governments, when it comes to regulation oft he stock market and similar instruments banks and investors want the same thing a deregulated market, but with bitcoin banks want bitcoin regulated or destroyed but investors want the same thing they always want an unregulated market.

[Andrej Peiboski]

Does anyone have an official source for these affirmations?
All Europe is watching at Bruxelles - with a sort of panic... - just to see what terrocrats can invent to stop cryptocurrecies.
I'm very skeptic they won't take some repressive decisions.

[cr_liev]

i cannot see how bitcoin can be regulated.
i think its impossible to prevent people from buying into it.
they may look to collect tax revenue from people liquidating crypto into fiat but im not sure how that  can be done because of the unregulated nature of crypto.

It depends on the amounts people convert into fiat. The enormous amounts are not likely to pass by banks and Revenue Service unnoticed. In some highly corrupted countries like mine it could be a problem - even though crypto is not recognized in the legislation. They will find the way to take your money form you 

[RamBahadur.Gurung]

Regulators in Europe have tried to pressure the European Commission to put Bitcoin under a magnifying glass in one way or another. However, there are other characters that sometimes make us believe that these efforts are over, at least for now.

I am confused about this. So is this a good news or bad news for the Bitcoin users in Europe? Lack of regulation means lack of legality as well, right? And what about the impact on taxes?

[fachant]

Regulators in Europe have tried to pressure the European Commission to put Bitcoin under a magnifying glass in one way or another. However, there are other characters that sometimes make us believe that these efforts are over, at least for now.

European Union, even if you don't hear about it, certainly works on the regulation of cryptocurrencies. It's becoming a large market and the EU likes to control everything. In addition, crypto hits the banking and tax system.

[bigmaster23]

Can it affect the natural way of bitcoin circulation if this happens, it such a bad decision for them to make but we still have another country for bitcoin to arise!