Do we need regulations?

[copypaper5]

Actually market is very free, but I agree with that we need regulations related to ico. I think such regulations will have a good effect on the market in the long term.

I agree with you, we just follow what is set by the government, because the exchange cryptocurrency ends end in rupiah currency, where rupiah is the legitimate currency in the country.
Moreover, Payment Processing Transaction is regulated in Bank Indonesia Regulation Number 18 Year 2016.
I am a good citizen, I follow the rules of my government.

[EuphorichamsTer]

Regulations will help keep a certain standard and protect the users as well as investors in case of any negative experiences such as technical issues or scams.

[Jikalau]

How do you guys think? Do we need regulations in the crypto world? Should only ICO be regulated or legit coins (not "security tokens") too? Can we implement regulations mechanisms in code so that corrupted governmental institutions couldn't manipulate the industry? Can we still have free market with governments' regulations across the world?

Please, share your thoughts. I'm a bit confused about what's happening right now.

At least we need some regulations to protect ourselves from scammers and the so called "exit scams". We do not need any regulation to prevent people from investing their money as they wish.

Do we need governmental ICO regulations or could there be any market-driven forces that prevent the very existence of scammers? Could we implement regulations on blockchain or any other decentralized technology and get rid of incompetent governments? I mean could we have the rules in code so that nobody could violate them?

with the existence of regulations will be easier to prevent fraud and help people better understand what it is crypto. and the public view of crypto would be better. and when having a good image in the public eye this will make more investors invest in the crypto world.
Regulation is great for crypto and beneficial to all of us.

[chaa123]

Regulations keep things in an orderly fashion. We need it so that our resources and investments are properly handled and does not get somewhere else. Without regulations, most of our investments would end up in an empty space without any reason...

[fredo123]

Absolutely yes, There will be chaos or abuses happens when we don't have proper program in an event. Somebody would grab the opportunity to cheat or scam to the public just to fulfill their needs and wants,  

[Zaibraid]

The rule is actually good if applied in the world of crypto, people would be more comfortable to put the money here and feel protected, because there are regulations that govern it. The system becomes more controlled and minimizes fraud..

[Thymoty]

Regulation will be implemented on cryptocurrencies even we dont want. soon this will be a worldwide regulation.
We dont have the power to stop it as government really have the power and rights to do anything for the sake of its citizen.
If crypto will be over FIAT then gov't need to have tax on this as they need the budget for their country's development.

really, sooner Bitcoin and Altcoin will be regulated, now governments in each country are studying the causes and effects of Bitcoin if regulation and recognition have been obtained by Bitcoin and other Altcoin.

[thycrypto]

I think that if regulations come in it will come in altogether not just some. We won't get to pick and choose what will get regulated and if it does happen (more likely it will) it eventually will be harder to get into the crypto world than it is today. Who knows how much it will change.

[Pjoh ie]

life without rules is a ridiculous thing,not in everyday life but in the world of crypto we also need a rule,I think this rule was created for the security of the Member also is not just perfunctory,they make the rules so that members of bitcoin to feel comfortable and safe.

[ohlawdy]

It depends on the regulations that are gonna come.
If they want to crack down on scam ico's and untrustworthy exchanges i think most people here are for it.
But if it is a attack on anonymity and centralization it will be a bad thing.

[StochasticOrder]

The historical rationale for government regulation was essentially the maintenance of contract law and ensuring that both parties upheld their part of an agreement once it had been agreed to by both parties. This need has largely been reduced by smart contracts and other attributes inherent in the newer crypto currencies. However, I would not be opposed to some limited regulation, either through a decentralized non-government organization created from the crypto community or worse case a government backed one. This is because the regulation will increase the appeal to crypto to the vast majority of the population that is not using crypto. Those of us that bought in years ago through to today will see a drastic increase in our portfolios as the new money floods into crypto after the average individual feels more comfortable investing in crypto since they feel it is safer due to regulation.

[shield132]

What's the main idea of bitcoin and whole crypto world? To keep secure, protect privacy and control your money yourself, without a bank.
Goverment already controls fiat so this is the last independent (still hard to call it independent but if we compare it to others, yes, it is) currency which we can use as we wish. I want to say that it's game without goverment and we don't need their rules.

[darkangel11]

Yes for sure. For every place/ mode of exchange there should be proper regulations on it. So that people cannot be cheated and as well as the financial institutions. After the rules and regulations all the people would know about the proper rules and no one would breach them.

Do you really believe that people won't be cheated because there are regulations? The stock market was regulated and yet there were people like the wolf of wall street or bernie madoff who couldn't care less about the regulations. Madoff wasn't even properly checked by the SEC and operated right under their noses.
People should stop trusting the government institutions and hoping that they're doing their job right.

[romero121]

Yes for sure. For every place/ mode of exchange there should be proper regulations on it. So that people cannot be cheated and as well as the financial institutions. After the rules and regulations all the people would know about the proper rules and no one would breach them.

Do you really believe that people won't be cheated because there are regulations? The stock market was regulated and yet there were people like the wolf of wall street or bernie madoff who couldn't care less about the regulations. Madoff wasn't even properly checked by the SEC and operated right under their noses.
People should stop trusting the government institutions and hoping that they're doing their job right.

Yes, even in the regulated system people were cheated. Importantly more were trapped into scams and the same thing is quite low with cryptocurrency market, because users were more cautious than being in a real world investment. One more thing that happens through regulation is government trying to have control on our assets and this once again make the politicians rule us.

[Dragon5]

Of course, a lot of things in there should warn investors, including promises of high investment returns with little or no risk, overly consistent returns,
unregistered investments, unlicensed sellers, secretive or complex strategies, lack of documentation and difficulty receiving payments.
Of these warnings, many ICOs are not secure. Regulators - welcome!  

[Ranly123]

How do you guys think? Do we need regulations in the crypto world? Should only ICO be regulated or legit coins (not "security tokens") too? Can we implement regulations mechanisms in code so that corrupted governmental institutions couldn't manipulate the industry? Can we still have free market with governments' regulations across the world?

Please, share your thoughts. I'm a bit confused about what's happening right now.

I think the only way cryptocurrency could do to avoid being banned by the government is to get regulated. Instead of complaining wht the government want to regulate cryptocurrency, we should be thankful that they are not totally banning it. However if this will happen, i believe that some experts would create new private server to avoid the taxation on oyr earnings in cryptocurrency.

[Grandifer]

We definetely need regulations in crypto because if crypto is regulated by governments, more investors invest in crypto assets. Regulations are in fact good for crypto.

That's why I created this thread. I want to know what crypto community stands for - money or idea.

And so far I see that people here want quick money more. They either don't know or forget why crypto and particularly bitcoin was created for in the first place.

[wdnj]

How do you guys think? Do we need regulations in the crypto world? Should only ICO be regulated or legit coins (not "security tokens") too? Can we implement regulations mechanisms in code so that corrupted governmental institutions couldn't manipulate the industry? Can we still have free market with governments' regulations across the world?

Please, share your thoughts. I'm a bit confused about what's happening right now.

We can have a regulations especially to ICO and some projects, but let the government have a regulation too and their limits on getting hands with crypto,
this is not fiat that they can control and still at the end, all the power will be to the people having the coins. they can set some taxes but if they do that, they should also shoulder the negative tax when the ICO got dumped.

[PatronRH]

As far as I am concerned we really need regulations. Because as we sew and if we look through history we will find out that every big crush and evey crises is due to the absence of regulations espcially tye crises if 2008 so even on the crypto world I think we need some regulations to avoid the bubble burst.

[--DarkSecrets--]

In every action, there should always be a regulation to apply. If there is no rule or regulation, we will be on chaos. Nothing good will happen and there will be no direction. For instance in bitcoin, I hope that may there be some regulations to be posted for it soon so that it won't be used in illegal acts.