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Author Topic: EU Moving In To Regulate CryptoCurrency Industry  (Read 118 times)
Basmic
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March 14, 2018, 08:14:45 PM
 #21

I think this is not necessarily bad. Without decent regulation crypto cannot be fully accepted by governments and society. And usually the EU is pretty good at handling these kind of things.
The emergence of regulatory rules is a violation of the main property of cryptocurrencies. The main idea of creating a cryptocurrency was to provide people with a reliable currency in the free crypto economy. Any rules contradict this idea. People do not understand that after the surrender of a small part of their freedom, they will have to part with most of it. and it will continue until the complete loss of freedom.
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Proton2233
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March 15, 2018, 12:57:30 PM
 #22

Now it is too early to say that the EU is moving towards the recognition and regulation of the cryptocurrency. I think that in order to draw conclusions we need to wait for the official statement at the end of the G20 summit. Next week we will find out the prospects for the development of cryptocurrencies for this year. I think the General decision on this issue will not occur. Everything will remain as it is.
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March 15, 2018, 04:56:59 PM
 #23

Now it is too early to say that the EU is moving towards the recognition and regulation of the cryptocurrency. I think that in order to draw conclusions we need to wait for the official statement at the end of the G20 summit. Next week we will find out the prospects for the development of cryptocurrencies for this year. I think the General decision on this issue will not occur. Everything will remain as it is.

The EU still has 5 members in G20.
Two of them with enough power to turn the table if there would be a resolution, so they are not going to wait for a decision and then act, they have already a plan.

But the G20 is kind of meaningless because it has absolutely no way to enforce rules on a member state.
So, it's more talk than action.

And even in the case 4, 8 or 15 states from the EU will go with a plan, in order to impose a financial change that will affect the entire EU you don't need majority, you need consensus from all the countries or it will not be adopted.

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March 16, 2018, 12:14:00 PM
 #24

All of us guess that someday it will happen in any case.

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March 16, 2018, 12:36:35 PM
 #25

Now it is too early to say that the EU is moving towards the recognition and regulation of the cryptocurrency. I think that in order to draw conclusions we need to wait for the official statement at the end of the G20 summit. Next week we will find out the prospects for the development of cryptocurrencies for this year. I think the General decision on this issue will not occur. Everything will remain as it is.

The EU still has 5 members in G20.
Two of them with enough power to turn the table if there would be a resolution, so they are not going to wait for a decision and then act, they have already a plan.

But the G20 is kind of meaningless because it has absolutely no way to enforce rules on a member state.
So, it's more talk than action.

And even in the case 4, 8 or 15 states from the EU will go with a plan, in order to impose a financial change that will affect the entire EU you don't need majority, you need consensus from all the countries or it will not be adopted.

I have high hopes for Japan's position. If all countries do not reach consensus in establishing global rules for the use of bitcoins, the Japanese will have the right to introduce such rules unilaterally. I do not mind Japan becoming a world center of cryptocurrencies. The Internet provides an opportunity not to have a territorial binding. I don't care where the stock market is. It is important that she worked and I had no problems.

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March 16, 2018, 02:36:41 PM
 #26

Now it is too early to say that the EU is moving towards the recognition and regulation of the cryptocurrency. I think that in order to draw conclusions we need to wait for the official statement at the end of the G20 summit. Next week we will find out the prospects for the development of cryptocurrencies for this year. I think the General decision on this issue will not occur. Everything will remain as it is.

The EU still has 5 members in G20.
Two of them with enough power to turn the table if there would be a resolution, so they are not going to wait for a decision and then act, they have already a plan.

But the G20 is kind of meaningless because it has absolutely no way to enforce rules on a member state.
So, it's more talk than action.

And even in the case 4, 8 or 15 states from the EU will go with a plan, in order to impose a financial change that will affect the entire EU you don't need majority, you need consensus from all the countries or it will not be adopted.

I have high hopes for Japan's position. If all countries do not reach consensus in establishing global rules for the use of bitcoins, the Japanese will have the right to introduce such rules unilaterally. I do not mind Japan becoming a world center of cryptocurrencies. The Internet provides an opportunity not to have a territorial binding. I don't care where the stock market is. It is important that she worked and I had no problems.

Anyone has the right to introduce whatever rules they want.
Even if a consensus is reached, anybody can just change their opinion the next day with no consequences.
Japan has already taking a stance and they've already classified BTC as a payment method. The US will probably continue to treat it in the future more like a commodity.
They will just present their opinion and hope the others will do the same.

But I'm almost willing to bet that nothing will come out of this meting. Nothing!
As I said it before, they have a lot of far bigger problems in their agenda, problems that also unfortunately can't be solved with just a meeting.




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March 16, 2018, 05:39:14 PM
 #27

This is quite interesting how the EU are doing it. They are making out as though they are just wanting to step in and regulate crowdfunding websites but if you dig a bit deeper it actually shows they want to regulate anything where finance is being raised. This would greatly change the face of Crypto EU wide.

http://learnccrb.com/2018/03/eu-wants-to-regulate-fintech-including-blockchain/

I read the article you shared and it seems to be a big "if". The even use this expression too many times, as well as "seems" and others like that. So it is difficult to look at it in a serious manner, for they even don't really explain what is this about.
This is the clearest part: “Today’s proposal will make it easier for these platforms to offer their services EU-wide and improve access to this innovative form of finance for businesses in need of funding. Once adopted by the European Parliament and the Council, the proposed Regulation will allow platforms to apply for an EU label based on a single set of rules.”, but, as you can see, this is only a proposal for the moment, and this is not near to be clear yet.

So do not rush into making an opinion. When I read those kinds of "maybe" news, I always prefer to wait before taking a side. Just for now. Wait and see.

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darkangel11
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March 16, 2018, 06:56:19 PM
 #28

It's going to be a disaster like most of the things that EU was trying to regulate. EU laws are much different from the local laws of member countries and that's why we're seeing some crazy loopholes and idiotic laws being established. Some examples? There's an EU directive that limits the CO2 emissions for all member countries, despite the fact that some of them are using coal to produce energy and others are using nuclear power that doesn't emit anything... Not to mention the recent migration crisis and the EU's attempt at pushing the migration laws despite the fact that they're compromising internal safety. It's just an example of how bad the EU is.
carlfebz2
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March 16, 2018, 10:39:48 PM
 #29

This is quite interesting how the EU are doing it. They are making out as though they are just wanting to step in and regulate crowdfunding websites but if you dig a bit deeper it actually shows they want to regulate anything where finance is being raised. This would greatly change the face of Crypto EU wide.

http://learnccrb.com/2018/03/eu-wants-to-regulate-fintech-including-blockchain/

I read the article you shared and it seems to be a big "if". The even use this expression too many times, as well as "seems" and others like that. So it is difficult to look at it in a serious manner, for they even don't really explain what is this about.
This is the clearest part: “Today’s proposal will make it easier for these platforms to offer their services EU-wide and improve access to this innovative form of finance for businesses in need of funding. Once adopted by the European Parliament and the Council, the proposed Regulation will allow platforms to apply for an EU label based on a single set of rules.”, but, as you can see, this is only a proposal for the moment, and this is not near to be clear yet.

So do not rush into making an opinion. When I read those kinds of "maybe" news, I always prefer to wait before taking a side. Just for now. Wait and see.
Or treat it as if we are still on the neutral side which I do see the best position as of now rather than on making opinions to those things which aren't still implemented or those are just projected plans ahead.Reading up above this wont really solve up in a single meeting.Just to be honest I'm not really get excited to these kind of news, adaptation or prohibition there are only two ways.
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