Will 2018 Be The Year of Regulations?

[CryptoBry]

The recent news coming from South Korea where the government is now imposing regulations for Bitcoin and cryptocurrency trading is quite reminding us the power of the government to deal with the matter and the seemingly no choice but to cooperate with those in the authority. Cryptocurrency exchanges are for making money and when this fact is threatened because of non-compliance with what the government is imposing, business sense will tell us that it would have no choice but to yield. What is happening right now in SoKor can be that catalyst which other nations may also do.

I am seeing this year to be the year where regulations, compliance, KYC and other related matters would be cemented and become just normal things in connection with the cryptocurrency movement. Do you think this can be good in the long-run or are we not sacrificing long-term repercussions for immediate gains?

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[davis196]

For the average cryptocurrency user it`s better that most of the crypto exchange platforms will be regulated.
Nobody wants to deal with shaddy unregulated exchange platforms that might get "hacked" and the owners running away with all the cryptocurrencies.We will have to sacrifice the anonymouty and pay taxes for our holdings but the regulations will reduce the number of online crypto scamms. 

[jseverson]

It could very well be. The Coinbase ruling might have opened the floodgates. But then again, there have been some regulations before that. Maybe it's just natural progression. Bitcoin is quite new to the public spotlight so it should be expected that regulations will come as the public comes to learn more about it.

I do believe regulations can help, because it gives the general public more confidence in entering the market knowing they havesome layer of protection, but they could still very much stifle growth. I don't think they will be too much of a problem for as long as they don't infringe too much upon privacy. Banks have secrecy laws, and so should cryptos.

[peterthegreat]

If 2018 isn't the year of regulations then 2019 will be for sure.

[mathiaslivis]

Yes. With the development of the bitcoin market, there will be more and more people to invest in bitcoin. Most countries will formulate relevant policies to regulate the bitcoin. The policy of South Korea is not to suppress the development of bitcoin. They aim to regulate the safety of accounts and standardize the issuance of ICO, which is beneficial to the special currency in the long run.

[player514]

The recent news coming from South Korea where the government is now imposing regulations for Bitcoin and cryptocurrency trading is quite reminding us the power of the government to deal with the matter and the seemingly no choice but to cooperate with those in the authority. Cryptocurrency exchanges are for making money and when this fact is threatened because of non-compliance with what the government is imposing, business sense will tell us that it would have no choice but to yield. What is happening right now in SoKor can be that catalyst which other nations may also do.

I am seeing this year to be the year where regulations, compliance, KYC and other related matters would be cemented and become just normal things in connection with the cryptocurrency movement. Do you think this can be good in the long-run or are we not sacrificing long-term repercussions for immediate gains?

I'm almost positive that many countries will be forced into the position to deal with bitcoin. We've come to a point where enough people know about the coin such that it can be used to avoid major taxes if traded "correctly." Governments will not allow for that. They need as much money as they can get from the civilians to run everything. Even though bitcoin is supposed to be decentralized, these rules can be very harmful and force the flexible currency to conform to the governments. Not a lot of people will like this, but I can definitely see it happening this year.

[cynical]

Im a bit skeotical about regulation.
what form will it ultimately take? How will crypto be affected by it?
is regulation not going against the whole idea?
unfortunately we still to a large extent have to buy crypto with fiat and liquidate back into fiat which means using normal banking systems so that is the weak link where regulation can be enforced.

[Sadum]

I think that even if there's a rule about bitcoin I expect a fair rule for all of us as users ...

[SSend3r]

Maybe 2018 will be the totally Ripple year  10$ very soon. Get screenshot.

[Mandoy]

The recent news coming from South Korea where the government is now imposing regulations for Bitcoin and cryptocurrency trading is quite reminding us the power of the government to deal with the matter and the seemingly no choice but to cooperate with those in the authority. Cryptocurrency exchanges are for making money and when this fact is threatened because of non-compliance with what the government is imposing, business sense will tell us that it would have no choice but to yield. What is happening right now in SoKor can be that catalyst which other nations may also do.

I am seeing this year to be the year where regulations, compliance, KYC and other related matters would be cemented and become just normal things in connection with the cryptocurrency movement. Do you think this can be good in the long-run or are we not sacrificing long-term repercussions for immediate gains?

The regulations such as KYC and AML are nothing to be worried about. This just mean that they are already seeing the potential of bitcoin and other cryptocurrencies and has placed the same regulations they require to any other financial institutions including the banks. Having been regulated means that the government has adopted and accepted these digital currencies and so it must be done in accord to the rules and regulations of the state.

As long as they declare it to be legal then it is an advantage to us all crypto enthusiasts.

[Pursuer]

your are kind of demonizing the word "regulation" specially with your picture alone! and I don't get why?!

regulations are not always bad. look at Japan and their regulations that helped push bitcoin from $900 to over $5000 in only a couple of months. and in addition to that it led to hundreds of thousands of merchants accepting bitcoin around every corner in Japan.

what you are saying is a couple of restrictions that are sometimes even necessary to exist in order to prevent crimes such as money laundering. and most of the things you mentioned such as AML/KYC are inevitable since bitcoin and exchanges are tightly involved with fiat!

[fiulpro]

Offcourse it would be since now cme is investing in Bitcoins and so are the other the companies the government is supposed to get in this business and regulated it because without all the regulations, it might fall in the hands of , wrong people and it might turn for worse , thus regulations seems fit now, and some regulations are meant to be, if the bitcoins are going to be in the market and fluorish well and blend in with the ecosystem.

[AssiZichlinski]

your are kind of demonizing the word "regulation" specially with your picture alone! and I don't get why?!

regulations are not always bad. look at Japan and their regulations that helped push bitcoin from $900 to over $5000 in only a couple of months. and in addition to that it led to hundreds of thousands of merchants accepting bitcoin around every corner in Japan.

what you are saying is a couple of restrictions that are sometimes even necessary to exist in order to prevent crimes such as money laundering. and most of the things you mentioned such as AML/KYC are inevitable since bitcoin and exchanges are tightly involved with fiat!

As with any new technological development in the financial/business realm, governments find themselves  chasing after the innovations with a delayed response. Same thing with cryptocurrencies now. I think it may be safe to assume that - at first - regulations may be irrelevant or problematic (due to not comprehending the crypto scene correctly), however, in the long run such regulation can be improved and help develop public confidence in cryptocurrencies.

This could increase investment and public use of cryptocurrencies and blockchains.

[hazelcryptocoin]

I am second to you, regulation is necessary because nothing is wrong in Bitcoin trading and a positive step is required from government for more success in crypto currency.

If you really need an assurance that your Assets (Bitcoin) will survive in the wild (Government), this is necessary.

Why are some people afraid of regulations?
(Don't answer, I think I know why)
If you're not doing something wrong, regulations wont be a problem.

[moamin77]

I would say 'Yes' and this is apparent from the number of ICOs lately integrating KYC (Know Your Customer) and AML (Anti Money Laundering) techniques as essential steps in their process of crowd funding.

[BingoDog]

The wave of regulatios is many countries has already started and this will continue. Many governements would like to have some control over cryptocurrencies market but this has alos a good side because I hink with regulations the users will be better protected than they rae now. Cryptocurrencies are great field for different businesses and profit but also for differen kind of scam so regulation could help with that also.
Regulation could also help with public and business confidence and that can bring only good so we shouldn't have fear of that.

[chrmn27]

Yes, I believe 2018 will be the year of regulation for Bitcoin. Since more and more people are acknowledging bitcoin, the government will be more aware that more people are onto it. Thus, the government will pay attention to it and check the legality, pros and cons, advantages and disadvantages of it. In fact, in the Philippines, the BSP or Bangko Sentral ng Pilipinas had given warning to the public to "know more" about Bitcoin. This shows that now, the Philippine government is starting to take actions regarding bitcoin.

[Yzhel]

From other countries just like Korea and USA yes it is but here in our country they were just aware and is open for this kind opportunity but they are not yet in favour in it and kept reminding the people that they should not do crypto since it is really a risky if we will enter without any knowledge.

[teejaymuna]

I think there will be more regulations from more governments. This can be good and bad. Good in the sense that it can give people more confidence to come on board while bad in the sense that it will limit growth. Either ways, I'm still here.

[acheampong64]

Cryptocurrency is expanding at higher rates each time, and governments think they are threatened so they will want to control it. It's good in some way since there are a lot of scams on crypto platform because anybody can do whatever you wish. It might be bad in some way also because a lot of regulations will dropping and dropping which will impede our better ways of gaining(they'll tell us how we should make our money). Remember that, governments never rest when they start regulations, they'll always bring new laws once they start