Bitcoin global regulation

[rickadone]

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.

How can a global regulation even occur when we have each country for itself ? I believe every single country will just have to come up with her own regulation on the way forward rather than having to stick with one single regulation which I absolutely feel would work more for the cryptocurrency space.

Plus, having one single regulation may not even work well for some and may be in favor of other countries implementing it, and since we have a lot of independent countries and a decentralized space, it cannot work that way.

[darewaller]

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.

Regulation is only going to usher in bigger players who will feel a little bit secured but that would still not change the advantage some of these bigger players will have in the market. Also, there will be some restrictions on exchanges anyway, so we can just expect that things may get better with regulation and moving forward as well. The confidence for investors is one thing that I am sure will get boosted anyway and we may see the era of being ushered into the mainstream.

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.

External rules are just there to curtail some certain things and it is not like the main protocol of anything will be changed. I believe regulation will always be on the country level and for some of the companies operational in those countries, and that would bring some level of sanity to the whole cryptocurrency environment considering how things will be done and some level of illegal activities will be curbed such as scam most especially.

[Vinalians]

All of them can say that bitcoin transactions are illegal because they have no research at all. They are only saying that because the transactions of bitcoins are anonymous process which means untraceable and they doesn't want that.

[AbyssLagiaz]

-snip-

Clearly identified as legal means of payment: France, Japan.

-snip-

Japan: embracing reform, licensing, and overall regulation.

Japan, as an innovator in this reform, has been on the cutting edge.

Japan, in fact will always be. I wonder how regulated it is right or should I ask, "how established cryptos are now at Japan?" Japan is really that country that always have been running in this technological advancements globally. Not just for the entertainment, but also for finance system which millenials wouldn't be so proud on promoting it mostly. It is quite sad that not all countries can't catch up to Japan at least few inches away. Worse is bans happen in cryptos which isn't really that fatal to crypto and it might be reverted back to legal state, but it is slowing down adoption. That's the point.

[beej]

Bitcoin regulation among governments and countries are having a bit of delays and circumstances,
some take less time and others are still uncertain about it. Now a global regulation on bitcoins sounds
a bit over the top, it's unlikely to happen. Each country is free to decide, if one opposes then how can
such a feat be achieved. It's a totalitarian kind of rule, heavily monopolized for sure since the only
way for it to be globally regulated is for a single governing rule. That kind of thing creates problems
after problems, there's no such things as global regulation for bitcoins its the same thing as global
centralization of currencies. It's a conflict of interest.   

[Best Dreams]

All of them can say that bitcoin transactions are illegal because they have no research at all. They are only saying that because the transactions of bitcoins are anonymous process which means untraceable and they doesn't want that.

Well everyone want bitcoin no matter what the condition of bitcoin is over there but the only thing they love the most is bitcoin itself, for me as well bitcoin is good choice and it will always be the best choice, bitcoin has anonymous currency but even then people invest and like bitcoin in my county there are 50% chances to hear the good news about bitcoin regulation, same as Japan and Korean government. I heartily want bitcoin to be regular same as the global acceptance and the popularity.

[wuvdoll]

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.

Countries are not regulating the coins or the decentralized system as it is, they are regulating the centralized system such as exchanges and ICOs as well as some other activities that pertains to it. There will definitely be set out rules for the citizens of any of these countries with respect to participating in anything as well as for the exchanges that will run as well as their users, and the ICOs as well but that does not change the decentralized environment itself.

Bitcoin regulation is literally impossible even for country level hence the concern of OP about global regulation is definitely impossible for ever. They may regulate bitcoin ATMs/bitcoin debit card providers  and crupto exchanges but definitely not the users or system of crypto-currencies.

[rhayot]

Bitcoin global regulation has a lot of conflict of interest between the governments of each country around the world. That's why those countries that you've mentioned some of them are open to legalize it and some of them are not, they already blocked the bitcoin in their country. Obviously, it is all about the economic and financial growth of a certain country, there are advantages and disadvantages that may affect when they implement bitcoin.

[Bananakievua]

Watching this currency, I can confidently say that it has many enemies like banks and a sufficient number of alternative currencies like Ripple is where the currency is more than bitcoin and it has many disadvantages, such as speed and a large price, and this will continue to grow, banks will play it by raising the price of the issue,
I do not believe that such a powerful organization can not defeat the bitcoin

[Gameroid]

Watching this currency, I can confidently say that it has many enemies like banks and a sufficient number of alternative currencies like Ripple is where the currency is more than bitcoin and it has many disadvantages, such as speed and a large price, and this will continue to grow, banks will play it by raising the price of the issue,
I do not believe that such a powerful organization can not defeat the bitcoin

Yes that is right that currently bitcoin is facing a lot of issues, but hope that bitcoin will become succeeded and will surely overcome all these challenges, bitcoin is the currency of the new era and it will exist for a long long time and no such power can disappear bitcoin, In fact the use of bitcoin is currently increasing from time to time more people are getting knowledge about bitcoin which is making it more stronger.

[hasan saifurridzal]

bitcoin is not tied to any party, nobody can control the bitcoin currency because it is global, so how does global regulation work?

[biuifyus]

For the government, the issuance of legal tender allows the government to complete its control of the financial world and to make a big profit from it.

Although the government can control the legal tender, they usually cannot control the cryptocurrency. Naturally, the government will introduce various policies to regulate it.

They cannot control the cryptocurrency. Encrypted money is safer, cheaper and more private, and once the average person on the street is aware of it, it is less likely to stop the rise of cryptocurrencies.

[gunhell16]

There is no global rules that every country in this earth is the same!
Countries can't go peaceful with each and every country.
This is an issue years and decades ago. then a global regulation with bitcoin? how can they do that with out peace talks?

[winterland]

There is no global rules that every country in this earth is the same!
Countries can't go peaceful with each and every country.
This is an issue years and decades ago. then a global regulation with bitcoin? how can they do that with out peace talks?

It is very simple, it is possible that we are going to see a global regulation if countries around the world believe that they are threatened by bitcoin, right now I do not think they feel that way but I'm sure that is going to change in the future probably in the next decade when an important percentage of the population of the world use bitcoin as their main currency.

[BaraxLo]

bitcoin is not tied to any party, nobody can control the bitcoin currency because it is global, so how does global regulation work?

For now, things are not that much good especially when it comes to that of the regulation of the bitcoin as the awareness rate of the bitcoin in the entire world is not that much and that it will take lot of time for things to be in favor of the bitcoin.

Global regulation of bitcoin will favor bitcoin the most and that it will help the bitcoin in gaining better reputation and above all, it will result in increase in the market value of the bitcoin.

[yojodojo21]

The country of Philippines should be included to the list but the problem is our government does not adapt the idea of crypto because of the scammers who continue to fool people and the great deal there is scammers in Philippines like to scam teachers, and some professional. Their words are really deceiving. But still hoping someday that Philippines will be listed as one who has a great !market deal when it comes to crypto currency.

[Nhor1011]

       Bitcoin global regulation,it seems hard to implement because every country has a different way  and motives why they want to implement  such regulations. Another reason is the decentralization of bitcoin. Government has no full control in bitcoin or cryptocurrency and other countries still not adopt the crypto world.

[Silberman]

Define bitcoin as currency: Australia, Sweden.

It is clear that bitcoin transactions are illegal: Indonesia, Bangladesh, Bolivia, Ecuador and kyrgyzstan.

Clearly identified as legal means of payment: France, Japan.

Specific economic activities related to bitcoin: UK, Germany, France, Finland, Norway, Russia, Singapore, Israel.

The first country to recognize the legal status of bitcoin: Germany.

The first country to block bitcoin: Thailand (now a changed attitude)

ICO's country: China, South Korea.

Countries with positive attitudes to ICO: Russia, France.


Japan: embracing reform, licensing, and overall regulation.

Japan, as an innovator in this reform, has been on the cutting edge.

This is a decent summary showing to us that the opinions of different countries around the world are not unified when it comes to bitcoin and cryptocurrencies each one is taking decisions based on what they think it is best for them, Japan is probably the one that gets my attention the most, they are doing everything they can to promote the use of cryptocurrencies it seems they understand very clearly that bitcoin is going to be big in the future and they want to obtain the most benefits.

[Victorycoin]

      Bitcoin global regulation,it seems hard to implement because every country has a different way  and motives why they want to implement  such regulations. Another reason is the decentralization of bitcoin. Government has no full control in bitcoin or cryptocurrency and other countries still not adopt the crypto world.

The truth need be told, global regulation of Bitcoin is not practicable because of the decentralized nature of Bitcoin and based on the fact that most governments would prefer to tailor their regulatory stances to reflect their countries  perspective, Moreover the infrastructure that would call for is neither here no their because of inequalities across the globe

[Visbay]

There is no global rules that every country in this earth is the same!
Countries can't go peaceful with each and every country.
This is an issue years and decades ago. then a global regulation with bitcoin? how can they do that with out peace talks?

It is very simple, it is possible that we are going to see a global regulation if countries around the world believe that they are threatened by bitcoin, right now I do not think they feel that way but I'm sure that is going to change in the future probably in the next decade when an important percentage of the population of the world use bitcoin as their main currency.

Hopeful this positive trend will be introduced to the bitcoin soon, we will see the regulation of bitcoin in future but a bit time will be taken, slowly gradually bitcoin will become famous d it will be legal. As you said increasing population in the world is increasing the number of investors and the number of bitcoin holders, bitcoin is being regulated everywhere now so we will see the future bitcoin at the top and this will increase the price of bitcoin higher more and more.