Good news for bitcoin as G20 says no crackdown for cryptocurrencies

[Rath_]

I hope after this good news crypto rates will be back normal again that I hope more than highest record.

It is definitely some good news, but it won't be enough to make investors calm. However, it looks like thanks to the G20, Bitcoin price increased by around $1000 dollars. There is no point in Bitcoin reaching $20.000 again if we won't be prepared for that. I wouldn't like to pay $20 for a transaction, again. Give our community and the developers some time. Last months were very exciting, we have to cool down a bit.

[dothebeats]

IMO, the word 'crackdown' is used erroneously especially if they're trying to relate it to crypto. What regulators and government mean by crackdown is that they would pursue wrong-doers and illicit activities which use cryptocurrencies as some sort of medium/vessel to accomplish their things. Needless to say, there aren't really talks for a complete ban on any cryptocurrency but rather just improve existing regulations in AML and KYC in order to prevent money laundering with cryptos. Also, with Japan and the US spearheading the said talks, there's a high possibility that the rulings will shift to cryptos favor.

[elusive1]

I was looking forward to good news from the G20 summit, as I could no longer watch the market fall. After these news, bitcoin immediately went up by $ 1000 and the whole market in the green zone.

[jukimay]

The G20 has announced good news for bitcoin ruling out the possibility of new regulations for cryptos by its regulator. Bitcoin bulls had a positive reaction to this report that saw prices recover tremendously.

Full article: https://cryptonewsmagnet.com/good-news-bitcoin-g20-says-no-crackdown-cryptocurrencies/

yes I have also read the news. with this I hope is bitcoin back to the moon. And then sideway for a long time, and take profit with my coin.  

[Yarsk]

G20 has no legislative power, only the governments (Congress and the executive) of each individual control would be able to place regulation, legislation, and so on and so forth about bitcoin. So this isn't a victory, this is what should happen anyway.

G20 just offers recommendations,nothing of what they say is legally binding.

I quite agree with you on this but the G20 also has they own jurisdiction just like the international court of law which can make judgment and it will be binding in all member States like wise the G20 which law are binding on all member state in respective of the laws of their individual member States. I see this as a good new for the cryptocurrencies market because this will prompt new investors to have confidence in the market.

[milani]

G20 may talk a lot, may make decisions of different kind, make various announcements, but very often it does not mean that it will be just like that what had been announced by them. It looks like the recommendation more. And very often the future decisions of the governments change in the process of realization. And this decision as for the future of Bitcoin's regulations that was accepted by G20 today, it may be changed by the other decision of the G20 tomorrow. Will it be really the very positive news for Bitcoin who knows. Will see.

[OMGyasuo]

The G20 has announced good news for bitcoin ruling out the possibility of new regulations for cryptos by its regulator. Bitcoin bulls had a positive reaction to this report that saw prices recover tremendously.

Full article: https://cryptonewsmagnet.com/good-news-bitcoin-g20-says-no-crackdown-cryptocurrencies/

So one thing for sure is that the price will start recovering immediately after the bulletin. That is probably what we are most looking forward to. Reduced prices not only hurt the traders but also the ICO project owners

[eternalgloom]

Finally, it's about time that we saw another bit of good news instead of all the negativity.
Now I wouldn't be completely against regulation, as long as it's fair. I'd even say it could have a positive effect on Bitcoin, making it more legitimate.

Just look at how much Bitcoin is being used in Japan after they introduced new legislation for crypto.

[WesternCowboyBibop]

According to me goverments decisions more important than online add provides ad restrictions. This thread awesome for crypto market.

[yoseph]

for g20 summit, no news is good news

I beg to differ because this is really a very good news for Bitcoins and cryptocurrency as a whole and the impact is very instant because i can see the cryptocurrencies steadily rising as a result of the decision that they took.

[Washball]

This good news is what we've been waiting for. It took a while and bitcoin dropped because of the fear of what the G20 discussion would bring. Now that Bitcoin is over 8K, let's hope the price keeps increasing and that it will soon hit 30K. With all the positive news, it shouldn't be too hard.

[Doge dealer]

this is indeed good news as this could have presented a number of difficulties for crypto currencies as this is a international forum for these 20 countries and banks .It therefore would only have added to bitcoins stress load had the news been any different , it must be noted that this grouping was formed with the main intention of discussing policy pertaining to the promotion of international financial stability it is definitely a powerful bloc as it accounts for 85% of the gross world product , this is an indication of the power this organization wields. so this news is indeed very good news as it must mean that they see a role which cryptos will play in helping to maintain international financial stability.Lets just be patient as this is obviously a race for those who can endure .

[fiulpro]

Prices aren't recovering tremendously! Not right now .. but they can be expected to.. and I don't think that one should forget that cryptocurrencies are providing stable income for many! And this is something that government won't look off !

[adrianto1995]

The G20 has announced good news for bitcoin ruling out the possibility of new regulations for cryptos by its regulator. Bitcoin bulls had a positive reaction to this report that saw prices recover tremendously.

Full article: https://cryptonewsmagnet.com/good-news-bitcoin-g20-says-no-crackdown-cryptocurrencies/

Yeah i already know this news and happy to hear that...
this news really affect to cryptocurrency market and make all cryptocurrencies price back to turned green again...
Time to take some profits from my coins...  

[yuukireit]

that good news thank for sharing
ah something like this what we waiting for some a goodnews not just a bad,
i know if more you famous more people will search your bad side but this to many for bitcoin

[wxa7115]

I haven't followed the news closely but from what I get, They didn't really say "no crackdown" but rather starting to figure out they can't really regulate the cryptocurrency industry. Christine Lagarde wants to use the blockchain technology with the hope to regulate.... something using blockchain, Do you see the irony?

It is not really that surprising the blockchain has the potential to both free us or enslave us, after all in the blockchain it is every transaction ever made, which means that if bitcoin was ever replaced by a private blockchain created by a government or a group of governments they will be able to monitor every single movement that you make with your money, so they see the potential in the blockchain, what they need to figure out is how to destroy bitcoin.

[hitrawal91]

The G20 has announced good news for bitcoin ruling out the possibility of new regulations for cryptos by its regulator. Bitcoin bulls had a positive reaction to this report that saw prices recover tremendously.

Full article: https://cryptonewsmagnet.com/good-news-bitcoin-g20-says-no-crackdown-cryptocurrencies/

Well, thanks for sharing the article link and i think the movement has started and this positive rally due to the news effect has been changig the minds of buyers who were sitting on the side to buy the bitcoin for now. I would like to add that if the momentum increases on rising prices then you can expect the chart analysis to help you in this matter by giving you the right trend and market direction. You just do some chart analysis from your side so that you get the idea from yourself.

[SaShiRaJaVu]

Finally a positive news for the market to move higher from the correction we had last week, i am not sure when the next meeting will be ,but in my opinion we will be seeing regulations down the line,this is a new market and it might need some time to have a rule set ,the main worry is about the scams and how to prevent that in the future,i would like to see how the market will react and how long this green run will continue before another bad news.

[raniadaling]

One thing people have missed from this recommendation is that it is not a recommendation of no regulation. It just does not recommend creating new regulation specifically for cryptocurrency. There is a difference and a significant one. It just means traditional regulation will be used for cryptocurrency.

I am not quite sure if traditional methods of regulation would apply to cryptos.
Cryptocurrency is operating in a decentralized platform, unlike banks with which transactions are closely monitored, like indicating sources of accounts, purposes of sending out, relation to recipient and others.
I believe this traditional way of doing it does not really apply to cryptos.

[BennyOnions]

Hopefully this brings in more investors.  Seems like crypto is only bull or bleeding money. I would honestly be happy with a 500b stable market for a few weeks