Fiat, Banks and the future of Cryptocurrencies

[horrifiedx1]

ICO should run under the law, the developer who want to hold an ICO should comply with many jurisdiction atleast jurisdiction of their country. I don't recommend to invest in ICO which has no complete company profile and legit documents. Honestly I have no problem with KYC but you know that kyc make more complicated things in using exchange site so if there are some people who get problem with kyc then they have to be helped immediately and give them fast respond.

right, so that it will suppress the number of fraudulent ico that currently occur a lot. this resulted in investors becoming distrustful and they lost money, so the circulation of the cryptocurrency declined, and the effect we can see now, where prices fall. hence regulations from the government are needed here

[zee11225]

The day when governments will actually be able to regulate the crypto world will be the end of every real chance of gain and bitcoin will be a currency like any other: no longer decentralized, but under the control of a central bank. And goodbye to Satoshi's dream.

At one time, fiat, bank and crypto will become a complementary entity where the world community can freely use the means of payment without any pressure.
This can happen when globalization is integrated and there is no suspicion that one party will dominate as a means of payment.

[daarul50]

Do not worry, the bank will not implement the rules for too long because the longer it is certain globally all banks will adopt blockchain technology and with that they will revoke the strict regulations. Besides that, there is another option to be able to change the crypto that we have into fiat which is using a private exchange service. Out there there are many people who provide these services, we only need to give bitcoin vouchers to them and they will send fiat according to the number of bitcoin vouchers that we send. Very simple right?

[tinkerr99]

ICO should run under the law, the developer who want to hold an ICO should comply with many jurisdiction atleast jurisdiction of their country. I don't recommend to invest in ICO which has no complete company profile and legit documents. Honestly I have no problem with KYC but you know that kyc make more complicated things in using exchange site so if there are some people who get problem with kyc then they have to be helped immediately and give them fast respond.

right, so that it will suppress the number of fraudulent ico that currently occur a lot. this resulted in investors becoming distrustful and they lost money, so the circulation of the cryptocurrency declined, and the effect we can see now, where prices fall. hence regulations from the government are needed here

The paradox is that fraudulent ICO will still be created and people will lose money on them. Let's say laws will solve 50% of problems, but nobody will decide the stupidity of people.

[awik p]

The day when governments will actually be able to regulate the crypto world will be the end of every real chance of gain and bitcoin will be a currency like any other: no longer decentralized, but under the control of a central bank. And goodbye to Satoshi's dream.

At one time, fiat, bank and crypto will become a complementary entity where the world community can freely use the means of payment without any pressure.
This can happen when globalization is integrated and there is no suspicion that one party will dominate as a means of payment.

that is what I hope for, where the three elements can support each other, without getting rid of one another. we know the three have advantages and disadvantages of each, so it will be better if it can complement each other to facilitate the payment system later. what happened in my country, crypto will only be included in the trade market

[Lexurdania]

In my opinion, in the future cryptomarket should be regulated by government. We already seen too many scam ICOs this year and to protect investor money, government should regulating cryptocurrency. I am agree that exchanger should comply to KYC because many people think crypto is used for money laundering

Not everything in cryptocurrency should be regulated by states. The basic principles of the existence of cryptocurrency, namely, its decentralization, relative anonymity and confidentiality should remain. ICO activities should be regulated in order to protect the rights of investors and other participants in the campaigns of the ICO bounty, but no one should interfere in the ICO process itself.

Most cryptocurrency launch ICOs and it should be regualted to avoid more scam ICOs. Decentralized doesnt mean not need government regulation because its involve public money or public investment.