Austria Prepares New Regulations for Cryptocurrency and ICOs.

[Thadeous]

Looks like Austria joins the pool of countries that plan to regulate cryptocurrencies and ICOs, based on existing rules for the trading of gold and derivatives. Read more here: Austria Eyes Bitcoin Rules Based on Gold, Derivatives
How do you think can we consider this as another positive step to legalize crypto in EU?

[reactorjuno]

I don't think any country within the EU will ban Bitcoin, because every country in Europe (especially France and Germany) care about so-called freedom, and it would be bad for their image if they ban Bitcoin.

Now what Austria is doing will also happen soon in Germany and France, most likely other countries too.
It's probably bad news for alt coins actually (the most obscure ones I mean).

[SakinaPrincess]

Regulating crypto is actually good for it, they are going to take it under the laws and the taxes. Which is not a bad thing in my opinion.

[Thadeous]

Regulating crypto is actually good for it, they are going to take it under the laws and the taxes. Which is not a bad thing in my opinion.

Sure, this is definitely poitive context. Hope we can expect to see such regulations in other EU countries in the nearest future.

[Kemarit]

I don't think any country within the EU will ban Bitcoin, because every country in Europe (especially France and Germany) care about so-called freedom, and it would be bad for their image if they ban Bitcoin.

Are you sure about France and Germany? (https://themerkle.com/franco-german-bitcoin-regulation-to-be-proposed-to-the-g20-in-march/).

They are in the fore-front of anti-bitcoin. They even wanted it to be discuss in G20 next March. So I don't think that you really understand what you are saying here. But as far as I know, they will be having a hard time having one universal crypto regulations.

Now what Austria is doing will also happen soon in Germany and France, most likely other countries too.
It's probably bad news for alt coins actually (the most obscure ones I mean).

Well at least Austria is somewhat positive on crypto. They will likely adopt it with heavy regulations as per article. So there will be 2 sets of countries that are {1) fully embraced bitcoin like Japan and Australia (2), countries with regulations. You will be lucky if you are living somewhere on that 2 category.

[HabBear]

Regulating crypto is actually good for it, they are going to take it under the laws and the taxes. Which is not a bad thing in my opinion.

^^^ This.

Regulation = Legitimization.

When Countries offer some regulatory boundary around Bitcoin and cryptocurrency they admit that it's a thing worth regulating. That it's an industry, it has gravity, and staying power. That it's moving fast enough to pay attention to. And we want Bitcoin to be able to exist within our government and economic frameworks, to do that there needs to be some regulation...some.

No one can can control Bitcoin, so don't fear the real end game. It's decentralization ensures that a mining machine will always be humming!

[BTCMILLIONAIRE]

I don't think any country within the EU will ban Bitcoin, because every country in Europe (especially France and Germany) care about so-called freedom, and it would be bad for their image if they ban Bitcoin.

Now what Austria is doing will also happen soon in Germany and France, most likely other countries too.
It's probably bad news for alt coins actually (the most obscure ones I mean).

They pretend to care about freedom, but in reality only care about maintaining enough of an illusion of freedom so that people will keep voting and thinking that their votes matter.
The general public doesn't want uncontrolled immigration, but politician force it through anyways.

You also have no word in whether or not you'd like to home school your children in Germany and will go to jail if you refuse to send it to public schools, no matter how bad they are.

[Shirin16]

Looks like Austria joins the pool of countries that plan to regulate cryptocurrencies and ICOs, based on existing rules for the trading of gold and derivatives. Read more here: Austria Eyes Bitcoin Rules Based on Gold, Derivatives
How do you think can we consider this as another positive step to legalize crypto in EU?

nice news. ,,
thanks before ..
I am very happy to hear this news. and I think this is indeed a positive step towards bitcoin success being legal. whether that's it, in the country I'm designing a bitcoin regulation. hopefully it manifests bitcoin to be legal.

[reactorjuno]

I don't think any country within the EU will ban Bitcoin, because every country in Europe (especially France and Germany) care about so-called freedom, and it would be bad for their image if they ban Bitcoin.

Are you sure about France and Germany? (https://themerkle.com/franco-german-bitcoin-regulation-to-be-proposed-to-the-g20-in-march/).

They are in the fore-front of anti-bitcoin. They even wanted it to be discuss in G20 next March. So I don't think that you really understand what you are saying here. But as far as I know, they will be having a hard time having one universal crypto regulations.

Now what Austria is doing will also happen soon in Germany and France, most likely other countries too.
It's probably bad news for alt coins actually (the most obscure ones I mean).

Well at least Austria is somewhat positive on crypto. They will likely adopt it with heavy regulations as per article. So there will be 2 sets of countries that are {1) fully embraced bitcoin like Japan and Australia (2), countries with regulations. You will be lucky if you are living somewhere on that 2 category.

Yes I am sure they won't ban Bitcoin, I mean France will probably take a similar position to what happened in sports betting back in 2010, only bookmakers will a French License can take bets from French residents, the same thing is likely to happen with Bitcoin, only exchange companies with a French license will be allowed.
So yes technically Bitcoin will not be banned. This is my opinion.

[stompix]

I don't think any country within the EU will ban Bitcoin, because every country in Europe (especially France and Germany) care about so-called freedom, and it would be bad for their image if they ban Bitcoin.

Are you sure about France and Germany? (https://themerkle.com/franco-german-bitcoin-regulation-to-be-proposed-to-the-g20-in-march/).

They are in the fore-front of anti-bitcoin. They even wanted it to be discuss in G20 next March. So I don't think that you really understand what you are saying here. But as far as I know, they will be having a hard time having one universal crypto regulations.

The title says it all. Regulation.
There is nothing about banning bitcoin or crypto. Although I would love to see ICOs getting hammered.
Yesterday I came across an ICO that was going to use the blockchain for skin care.....

As for Austria, it's the same.
Treating it as you treat other financial markets.
It would be stupid for them to allow trading and at the same time allowing it to become a wild west.

Participants in the Bitcoin market should be required to identify their counterparties and to report trades exceeding 10,000 euros ($12,300) to the financial intelligence unit, similar to companies that handle large amounts of cash, gold or jewelry, Loeger said. Trading platforms should be supervised by the financial watchdog FMA, he added.

Initial coin offerings should be required to be based on “digital prospectuses” that need approval by the FMA, Loeger said. For those deals, as for share or bond offerings, rules that criminalize market manipulation, insider trading or front running must be applied, he said.

I especially love the part in red.

[Scorpion]

That's a good thing, cryptocurrency adoption but with laws and rules so it isn't exactly the wild wild west or something.

[reactorjuno]

I don't think any country within the EU will ban Bitcoin, because every country in Europe (especially France and Germany) care about so-called freedom, and it would be bad for their image if they ban Bitcoin.

Now what Austria is doing will also happen soon in Germany and France, most likely other countries too.
It's probably bad news for alt coins actually (the most obscure ones I mean).

They pretend to care about freedom, but in reality only care about maintaining enough of an illusion of freedom so that people will keep voting and thinking that their votes matter.
The general public doesn't want uncontrolled immigration, but politician force it through anyways.

You also have no word in whether or not you'd like to home school your children in Germany and will go to jail if you refuse to send it to public schools, no matter how bad they are.

Sorry I missed your message.
Yes I can agree and see where you are coming from.
Perhaps they'll tax the profits so high (we can trust France on that) that most of Bitcoin holders/traders will just give up and find something else to do.
This is sadly a possibility.

[Thadeous]

I don't think any country within the EU will ban Bitcoin, because every country in Europe (especially France and Germany) care about so-called freedom, and it would be bad for their image if they ban Bitcoin.

Are you sure about France and Germany? (https://themerkle.com/franco-german-bitcoin-regulation-to-be-proposed-to-the-g20-in-march/).

They are in the fore-front of anti-bitcoin. They even wanted it to be discuss in G20 next March. So I don't think that you really understand what you are saying here. But as far as I know, they will be having a hard time having one universal crypto regulations.

Now what Austria is doing will also happen soon in Germany and France, most likely other countries too.
It's probably bad news for alt coins actually (the most obscure ones I mean).

Well at least Austria is somewhat positive on crypto. They will likely adopt it with heavy regulations as per article. So there will be 2 sets of countries that are {1) fully embraced bitcoin like Japan and Australia (2), countries with regulations. You will be lucky if you are living somewhere on that 2 category.

Yeah, I believe even German and France will change their attitude after most of EU countries will.
And concerning set of countries by regulations, I'd prefer to live in the 1st category.

[Pursuer]

Regulating crypto is actually good for it, they are going to take it under the laws and the taxes. Which is not a bad thing in my opinion.

this is very true, but remember regulations are not always the same and are not always friendly. sometimes in the past even some regulations have been restrictive more than anything else and that can eventually hurt businesses. I think it was in one of US states where they set some license laws for bitcoin related businesses in 2016 which forced a lot of them to leave that state.

[reactorjuno]

Well 2018 was said to be a year of transition...
2017 was the peak of cryptocurrencies? We'll see but right now it looks like it!

If many regulations are implemented in most western countries, this will weaken Bitcoin and all other digital currencies.

The market will not die, but it will take a while to go up again and stabilize at a high price.

I am myself very much into Ethereum, and things are not looking as good as I thought they would this year.

[diva.man]

Regulation may be seen as a sign of legitimacy!

I think the main purpose of his supervision of digital currency is to prevent terrorism and criminals from transferring assets!

[teilwalL05]

Well 2018 was said to be a year of transition...
2017 was the peak of cryptocurrencies? We'll see but right now it looks like it!

If many regulations are implemented in most western countries, this will weaken Bitcoin and all other digital currencies.

The market will not die, but it will take a while to go up again and stabilize at a high price.

I am myself very much into Ethereum, and things are not looking as good as I thought they would this year.

Such low faith, If its not the year for cryptocurrency then hold some more and wait for it to have another bull hype, We can never when that will be but I am pretty sure that we can surely see that the value will still recover somehow if not this year then let's just move on and wait for the upcoming year, And we are in the midst of 2018 and march is just starting we can never know the real movement of bitcoin by that time.

[reactorjuno]

Well 2018 was said to be a year of transition...
2017 was the peak of cryptocurrencies? We'll see but right now it looks like it!

If many regulations are implemented in most western countries, this will weaken Bitcoin and all other digital currencies.

The market will not die, but it will take a while to go up again and stabilize at a high price.

I am myself very much into Ethereum, and things are not looking as good as I thought they would this year.

Such low faith, If its not the year for cryptocurrency then hold some more and wait for it to have another bull hype, We can never when that will be but I am pretty sure that we can surely see that the value will still recover somehow if not this year then let's just move on and wait for the upcoming year, And we are in the midst of 2018 and march is just starting we can never know the real movement of bitcoin by that time.

I'm just being realistic, what attitude is the best? Utterly optimistic no matter what? I don't think so.
Those who hold long term may be safe for now, those who are looking for short term profits may struggle a lot (just imagine that you bought in December 2017! many did!).

[just_Alice]

Looks like Austria joins the pool of countries that plan to regulate cryptocurrencies and ICOs, based on existing rules for the trading of gold and derivatives. Read more here: Austria Eyes Bitcoin Rules Based on Gold, Derivatives
How do you think can we consider this as another positive step to legalize crypto in EU?

It seems like a positive step towards legislation, not banning, but finding out the ways to control it. And, maybe BTC won't be as anonymous then, but it's ok for most people, who don't use it for terroristic and money money laundering processes. I also like the idea about ICO control, if it works - finally the amount of scam ICOs will be reduced and worthy ICOs won't lack funding.

[Thadeous]

I don't think any country within the EU will ban Bitcoin, because every country in Europe (especially France and Germany) care about so-called freedom, and it would be bad for their image if they ban Bitcoin.

Are you sure about France and Germany? (https://themerkle.com/franco-german-bitcoin-regulation-to-be-proposed-to-the-g20-in-march/).

They are in the fore-front of anti-bitcoin. They even wanted it to be discuss in G20 next March. So I don't think that you really understand what you are saying here. But as far as I know, they will be having a hard time having one universal crypto regulations.

Now what Austria is doing will also happen soon in Germany and France, most likely other countries too.
It's probably bad news for alt coins actually (the most obscure ones I mean).

Well at least Austria is somewhat positive on crypto. They will likely adopt it with heavy regulations as per article. So there will be 2 sets of countries that are {1) fully embraced bitcoin like Japan and Australia (2), countries with regulations. You will be lucky if you are living somewhere on that 2 category.

Yeah, I believe even German and France will change their attitude after most of EU countries will.
And concerning set of countries by regulations, I'd prefer to live in the 1st category.

According to the latest news from Germany - they are already changing it.
https://bitcointalk.org/index.php?topic=3042750.0