More bad news: G20 wants to regulate crypto's

[sjefdeklerk]

https://www.express.co.uk/finance/city/931419/bitcoin-price-latest-cryptocurrency-value-plummet-g20-regulation

[1713904842]

1713904842

[1713904842]

1713904842

[1713904842]

1713904842

[1713904842]

1713904842

[randythered]

We do not know yet what will be the conclusion of the talks because they are yet to happen. The safe money would be that the outcome will be further moves towards regulation but that's nothing new. Most of the major economies have already announced their plans for stricter regulation around cryptocurrencies. All that these talks might do is lead to a more streamlined approach and a common direction. That's actually a good thing because it will make the market much more transparent for all involved.

[sjefdeklerk]

We do not know yet what will be the conclusion of the talks because they are yet to happen. The safe money would be that the outcome will be further moves towards regulation but that's nothing new. Most of the major economies have already announced their plans for stricter regulation around cryptocurrencies. All that these talks might do is lead to a more streamlined approach and a common direction. That's actually a good thing because it will make the market much more transparent for all involved.

But what about all the criminals with their illegal money? They're now in bitcoin but will they be forced to sell?

[Mrt2018]

I don't get it why everyone thinks regulations are bad. It has is down side but it also has a good side. People don't have to fud everytime a article comes up talking about crypto regulation.

[sjefdeklerk]

I don't get it why everyone thinks regulations are bad. It has is down side but it also has a good side. People don't have to fud everytime a article comes up talking about crypto regulation.

I think it's because crypto's are very popular among criminals. If they will be forced to sell that's not good for bitcoin.

[Jacques_Bittard]

Regulations are good for cryptos that have utility in legal finance. Not so good for cryptos that are mainly used for black and grey markets.
To me, this is a good thing!

[mrcash02]

When these regulations come in bunch it's even worse. The corporatism is going to get stronger in Crypto-Currency world, Bitcoin is going to be mainstream as many people were waiting for, but Crypto enthusiasts will pay dearly for it.

[entebah]

This is really bad, when the G20 countries have been discussing this worry.
they begin to fear that blockchain can damage international banks or grow new crime. waiting for their policy without reacting.

[randythered]

We do not know yet what will be the conclusion of the talks because they are yet to happen. The safe money would be that the outcome will be further moves towards regulation but that's nothing new. Most of the major economies have already announced their plans for stricter regulation around cryptocurrencies. All that these talks might do is lead to a more streamlined approach and a common direction. That's actually a good thing because it will make the market much more transparent for all involved.

But what about all the criminals with their illegal money? They're now in bitcoin but will they be forced to sell?

Those 'criminals' that may or may not exist. No one will be forced to sell but it would seem likely that a lot of 'less clean' money would transition in to privacy coins from bitcoin if there was stricter regulation put in place to target money laundering and tax evasion.

[Lieldoryn]

It seems to me that the creation of its own cryptocurrency banks has no prospects. Who now trusts them. Also crypto currencies which will create a government waiting for the same future. It seems to me that G20 Finance Ministers need to concentrate on peaceful existence with the existing cryptocurrency market and not try to seize it.

[omonuyak]

I had most of this scared news and plan last year and many of them do not come to past and this issue of regulations has been there for quite some time now. the g20 issues is not going to change things as I believe cryptocurrencies is the future of money.

[Slow death]

https://www.express.co.uk/finance/city/931419/bitcoin-price-latest-cryptocurrency-value-plummet-g20-regulation

Regulations are positive if governments oversee exchange and force exchanges to provide quality service to their customers.

How many people here trust millions of dollars in an exchange? and I ask the same question: how many people would trust a million dollars to a bank?

of course, people would trust millions of dollars to a bank, that's because we can go to court to claim our rights in case the bank rob us, but we have no where to complain when those exchanges rob us and do not respond to support tickets.

We do not even know where the exchange office is, but see that we are talking about exchange that moves millions of dollars, but they are anonymous... without physical office, we do not know who they are and how many are the support staff.

[CryptoBry]

I don't get it why everyone thinks regulations are bad. It has is down side but it also has a good side. People don't have to fud everytime a article comes up talking about crypto regulation.

Regulations are in fact needed so that banks will not be afraid to deal with cryptocurrency. One of the fear factor why banks are dropping crypto-related business is because they don't know for sure what can happen next. With proper regulations in place, I think banks will be back doling business with this industry as most of them are all in business for money. Regulations are not bad per se...what we should not wish to happen is the BAN just like what China did last year.

[1Referee]

Regulations are the best thing that could ever happen to this ecosystem. I do agree with people that it more than ever grants the governments control over the centralized crypto ecosystem, but what do you guys want? Should governments outlaw everything related to crypto directly, and thus significantly decrease Bitcoin's utility, just because people think regulations are bad and against crypto? Grow up and accept that the entire crypto market as an industry has grown so large, that governments have no choice other than to regulate crypto. Regulations if fairly implemented, will stimulate crypto in its entirity to grow larger than we can even imagine right now. Japan speaks for itself. People not understanding this are just delusional and short sighted. Go cry yourself to sleep.

[pereira4]

Regulations should be irrelevant. If you bought bitcoin and expect that governments wouldn't either try to ban it or regulate it you are delusional and you got in the wrong place. Bitcoin is subversive in nature, it challenges the status quo, I always expected governments to criminalize bitcoin to insane levels, labeling anyone holding bitcoin a terrorist or something insane along the lines.

This was the reason why I never sold or used exchanges, I knew that they would label us as terrorist and get us in trouble. It's better to hold long term, don't use exchanges and don't give them your name if you use altcoin exchanges since they are all scammers. Keep your coins safe and wait it out, we may have to go through an extreme period in which they will go full nazi against bitcoin and crypto period, and when that happens, you don't want them to know that you ever were involved in crypto, who knows what will they do to you.

[greensheep]

https://www.express.co.uk/finance/city/931419/bitcoin-price-latest-cryptocurrency-value-plummet-g20-regulation

Great news if you ask me!

[randythered]

Regulations are the best thing that could ever happen to this ecosystem. I do agree with people that it more than ever grants the governments control over the centralized crypto ecosystem, but what do you guys want? Should governments outlaw everything related to crypto directly, and thus significantly decrease Bitcoin's utility, just because people think regulations are bad and against crypto? Grow up and accept that the entire crypto market as an industry has grown so large, that governments have no choice other than to regulate crypto. Regulations if fairly implemented, will stimulate crypto in its entirity to grow larger than we can even imagine right now. Japan speaks for itself. People not understanding this are just delusional and short sighted. Go cry yourself to sleep.

It's true, regulation is going to be a one step back, two steps forward kind of thing. There will be so much more trust around crypto now and much more institutional money will be safe to move in to the market. I do understand some of the people stating that regulation will be bad in the sense that it moves crypto away from decrentralization but from an investment point of view it will be overwhelmingly positive in the long run.

[deepcoreotc]

I don't see regulation as a bad thing tho - this is the only way institutional money comes into play. And just so you know - institutional money is HUGE!

[adam1230]

Here is my review for G20 meeting. Actually there is no important dark clouds for us. We can still continue to work. Carney supports us
Video Review : https://youtu.be/tL59m8kDmtY
Also please subscribe to my channel if you like it

[TERA2]

Regulation will start out good but then slowly invasive old-world concepts will sneak in until you find yourself required to hold your coins on coinbase or give the gov a copy of your private key or else youre a felon.