Bitcoin global regulation

[NowYouAreSee]

80% ICO Scam, so in many countries they are forbidden to conduct them, because one of the tasks of the state is to protect their citizens from scoundrels.
As for the prohibition of crypto currency in general, I think that the ban itself should be perceived as a pause on the part of the state to develop an action plan.
Sorry for my english.

[Thole99]

It will depend on the amount of regulation that is enforced, over regulating the crypto market would be a really bad idea, since it will drive a lot of people away.

[richmcrich]

Are you sure of the number two you said? I mean the one of identifying Bitcoin as a legal means of payment. You can say Japan did, but as for France I don’t know for sure, though I’m not really current. But I once read a news article that says the Governor of the Bank of France said Bitcoin is not to be accepted cause it is nothing, and it’s not a currency. And I don’t know why you didn’t mention the United States in this, well, just saying, cause I also heard that they are part of it. But whatever…

Bitcoin is no doubt very much capable of becoming the global currency and that if it happens, then this will entirely change the economic system as well as the dynamics of this world. However, this global regulation of the bitcoin is not that much easy thing as it seems to be. It will surely take lot of time and efforts and for that, you need to create a positive image of the bitcoin amongst others.

[1Referee]

Bitcoin is no doubt very much capable of becoming the global currency and that if it happens, then this will entirely change the economic system as well as the dynamics of this world.

Being capable of something is meaningless when the far majority of the people don't appreciate Bitcoin in that specific way. Global currency means a lot per definition, where the main thing is that Bitcoin has to be used by the mass as such, and as long as that isn't the case, governments will just sit back and let Bitcoin grow further, and I think we should be happy with that development.

If Bitcoin went ahead and became that superior peer to peer currency that people here want it to become, governments would have done everything they could to legally put a stop to it years ago already. The only reason governments allow Bitcoin to grow is because they don't consider it to be a direct threat to their financial system. Of course, there are always rotten countries who see everything as potential threat, and thus went ahead and prohibited the use and sale of crypto in their country, but these countries don't contribute anyway, so they won't be missed. That's why I always like to use the term or saying; be careful what you wish for. Once a solid regulatory framework has been set up to serve crypto, Bitcoin can still pop up as that currency, but for now it's better to keep things as they are.

[rhayot]

Obviously these countries gives definition of what is bitcoin for them. But to be recognized bitcoin as a part of global currency it will take a lot of time and effort, there are still countries who doesn't know about bitcoin and how it works. In line with that, we don't still need to worry because it is still a decentralized currency that no one can control it, it's just the government of each countries needs to utilize and understand what is bitcoin is all about, for us to develop and enhancing more the existence of it.

[rickadone]

I think they are doing well if they are securing their citizens’ future. Right now, definitely there are so many ICOs who are fake. People don’t know properly about some ICO and then start investing in it. While that one is making fraud against their money and then the person becomes loser without doing anything. So if governments are playing safe game that is better.

In fact, for ICOs sake and not to get the whole space polluted, it is something that is highly needed. As much as some may have a dislike for it, it is already apparent that for the sake of the future of cryptocurrency and to even move ahead and get going with growth, development and adoption, regulation is definitely a must but this will have to do with how each country stand to do their thing.

If crypto-currencies are banned in some country, who prevents to go to another and make operations there? Now, while the legislation has not been fully developed, you can get a good profit, it will be more difficult in the near future.

Regulation would make nothing difficult. Apparently, each country may have their own form of regulations which probably would affect exchanges, but in the long run, this is something that we all know would not be a big issue since they will be benefiting from it as well. Also, we cannot see anything like a single global regulation, like I said; it will be limited to each and every country.

[barbara44]

Every country have their own regulation when it regards to cryptocurrency as to exhange, payment, etc. There's nothing we can do about that even if we knew that we can get a lot of benefit from it. I think they are just protecting their citizens from investing on fraud ICOs that may lead to financial risk.

I think they are doing well if they are securing their citizens’ future. Right now, definitely there are so many ICOs who are fake. People don’t know properly about some ICO and then start investing in it. While that one is making fraud against their money and then the person becomes loser without doing anything. So if governments are playing safe game that is better.

It is just the beginning and that it will surely take lot of time for things to settle down at time when you talk about anything related to that of the crypto currency or the crypto market. You need to wait and watch till the time things settle down in a proper way. You just need to do the right thing at the right time and that you need to play your part in helping this regulation of the bitcoin.

[Whosdaddy]

I do not think it will ever happen to bitcoin global regulation, because there will always be an incoherence between the rules of each state .. because bitcoin and crypto are the greatest opportunities for getting clappers, and that's what causes each country to have different rules about regulation bitcoin

Exactly, every country have their own belief about cryptocurrency but I think its good to have a global regulations so we can be more confident that they regulate cryptocurrency for the sake of both investors and a company. More countries will support this technology and I do hope G20 summit is the way to make that happen.

Every country will always do. Some will regulate, some will not but will also not bother about it, while some may not regulate, you will still be subject to capital gain tax and some will actually still stay adamant about it. I feel however that most countries will come around and in their own way, accept bitcoin and cryptocurrency for what they are rather than attacking it.

After some point of time, governments may start realizing the fact of no big differences they can find due to regulations of crypto currencies. Because regulations may give negative impact in short term but in long term it will help more people to adopt cryptos. Then people will start exchanging within themselves to avoid governments interventions.

[danniwide1234]

With the way the trend is going it will takes a long time for the their to be a general consensus by the countries of the world to accept bitcoin as a legal means of payment and have a common regulation policy that will direct the affairs of bitcoin and other cryptocurrency. I believe it can happen and when it does bitcoin and other cryptocurrency as we known it would have truly revolutionize the world.

[winterland]

The fact that they are not forbidding cryptocurrencies right now and that they even said they were not a threat it's true but that doesn't mean that is not going to change, what it is going to happen when bitcoin is used by hundreds of millions of people? At that point it will be a significant part of the economy and by then they will consider it a threat and they will take steps to try to block adoption.

It all depends on the exact type of usage, and how that translates into negative consequences for their own economy. I am quite certain that as long as people treat Bitcoin as an investment tool, or as store of value, governments won't have to do anything and can just happily look forward. Things will only form a problem when people are actually using Bitcoin to pay for things, get their salary paid out in Bitcoin, merchants and brick and mortar stores accept Bitcoin directly without having it converted to fiat by third party payment processors, etc. As long as fiat remains the primary means of exchange, the main currency, governments will just allow Bitcoin to grow further. I don't think it's coincidence that in the last years the traditional payment infrastructure has been improved significantly, where I also believe that it's just a matter of a few years before people will be able to transact from bank to bank instantly, where you now still depend on working hours/days. Bitcoin made them hurry up with implementing these changes enhancing people's overall experience.

Then I suppose that the only thing that we can do is to wait and see, I really think that in order for bitcoin to get that kind of adoption it needs to be used as a currency, if you think about it there are not many people that have savings or investments, many people are living paycheck to paycheck and if bitcoin is only an investment tool then we will never reach that amount of people using the bitcoin network.

[ayiaye]

I've heard about this bitcoin global regulation some time ago, after the G20. this is a bright spot for bitcoin, since so far there has been a lot of negative news about cryptocurrency such as facebook and google banned cryptocurrency ads that have a bad impact on bitcoin prices. hopefully this global rule will be positive news and many countries support so bitcoin is much higher level.

[xIIImaL]

I've heard about this bitcoin global regulation some time ago, after the G20. this is a bright spot for bitcoin, since so far there has been a lot of negative news about cryptocurrency such as facebook and google banned cryptocurrency ads that have a bad impact on bitcoin prices. hopefully this global rule will be positive news and many countries support so bitcoin is much higher level.

I do not know is this alone a promotion medium for the crypto users. Here millions of users in this forum and since we all here anonymously we may not who is the investors here and then who is normal person. Hope there is no negative true news has been happening in the market.
If any government added little regulations for the betterment and safety for the citizens.
Every media and other shits sharing the fake news with the overwhelming answers.

[AVAMONEY]

I've heard about this bitcoin global regulation some time ago, after the G20. this is a bright spot for bitcoin, since so far there has been a lot of negative news about cryptocurrency such as facebook and google banned cryptocurrency ads that have a bad impact on bitcoin prices. hopefully this global rule will be positive news and many countries support so bitcoin is much higher level.

I do not know is this alone a promotion medium for the crypto users. Here millions of users in this forum and since we all here anonymously we may not who is the investors here and then who is normal person. Hope there is no negative true news has been happening in the market.
If any government added little regulations for the betterment and safety for the citizens.
Every media and other shits sharing the fake news with the overwhelming answers.

Media has take big influence about crypto market fluctuation condition. I don't think it will be enough to discuss about Bitcoin in G20 forum only as global regulation need to consider many aspect of economy and population capital. Since Bitcoin has become main stream many people from third world county has entered the market.

[stomachgrowls]

I've heard about this bitcoin global regulation some time ago, after the G20. this is a bright spot for bitcoin, since so far there has been a lot of negative news about cryptocurrency such as facebook and google banned cryptocurrency ads that have a bad impact on bitcoin prices. hopefully this global rule will be positive news and many countries support so bitcoin is much higher level.

I do not know is this alone a promotion medium for the crypto users. Here millions of users in this forum and since we all here anonymously we may not who is the investors here and then who is normal person. Hope there is no negative true news has been happening in the market.
If any government added little regulations for the betterment and safety for the citizens.
Every media and other shits sharing the fake news with the overwhelming answers.

Media has take big influence about crypto market fluctuation condition. I don't think it will be enough to discuss about Bitcoin in G20 forum only as global regulation need to consider many aspect of economy and population capital. Since Bitcoin has become main stream many people from third world county has entered the market.

You have a point which not only G20 should be considered to affect the entire market but somehow this thing is one of the factors which will contribute positivity towards cryptocurrency. It might not be too big but would really influence future views into some countries.Its really obvious that each country would really have their own jurisdiction when it comes to crypto specially on bitcoin itself.

[KorakPawon]

Different regulations in each of these countries actually generate a polemic. However, making global regulation seems to be the only solution to solve this cryptocurrency problem. The G20 plan will also make the virtual currency the main focus of the upcoming conference.

[Sadlife]

I wonder how countries can regulate something that is entirely anonymous and a decentralized system. I think they can put a fee when your converting your crypto currency to fiat. But that's basically it they can't trace someone when he/she sends large amount of money to someone. So putting regulations can be rubbish.

[tbterryboy]

With the way the trend is going it will takes a long time for the their to be a general consensus by the countries of the world to accept bitcoin as a legal means of payment and have a common regulation policy that will direct the affairs of bitcoin and other cryptocurrency. I believe it can happen and when it does bitcoin and other cryptocurrency as we known it would have truly revolutionize the world.

At this very moment, when the overall market of the crypto currencies and bitcoin specially is very much low and that most of the investors have already done panic selling, this global regulation of the bitcoin is very much necessary thing as this will surely help the bitcoin market to be little better and that this will also help in gaining the confidence of the ones who have invested their money into it.

[Crypto della Mirandola]

All human activities must be regulated, but in this case we forget that the rules are already there: those defined by the software.
Putting external rules will only create confusion.

[Kevin77]

As in, it is definitely impossible to impose a global 'one for all' set of regulations on Bitcoin or cryptocurrencies in general. While each country preps up to take its own stance against this, there is literally no sign of a united decision anywhere. Ultimately, it is left to hands of the concerned governments to do what they think is necessary for the country rather than entertaining something which could hinder the economy.

Highly impossible. Most countries today are independent, and stand based on their own policies and regulation and even though we have some international monetary policies, having a global regulation on cryptocurrency is something that would not work most especially since it is highly decentralized. As long as each country is convenient with the idea, they will just come up with regulation policies unless they only want to borrow a cue from others.

link reference https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

Yeah, and if we take a look at most of the countries who really do not see it as a threat, they are still doing pretty fine and adoption is increasing here. Sure, we may get to see some huge global level of regulation, but coming as one body to regulate is not going to be possible. However, I believe with the way things are going, every country will start seeing how they can regulate and possibly benefit from the whole idea.

[mersal]

All human activities must be regulated, but in this case we forget that the rules are already there: those defined by the software.
Putting external rules will only create confusion.

Yes putting more regulation on something will create a bad bad thought in that but it is not a big thing in bitcoin or crypto currencies so will create a regulation is right but putting more thing is not so good .