SEC and other regulators etc. who cares?

[whatluke]

Being based in Switzerland we participate in a lot of conversation about the future of crypto and regulation. Every time I raise the topic of regulation (e.g. security tokens vs. utility tokens, legality of ICOs)  this with the crypto community not many people in the community (e.g. on bitcointalk or reddit) seem to care.

Is the crypto community here purely interested in gains from trading, regardless of regulation? Are only bankers, lawyers and business consultants interested in setting the rules, controls and regulation?

Just curious to hear your views and opinions about the future of regulation and in case you read this, perhaps you could recommend other discussion groups for this type of conversations.

[mpufatzis]

I have to agree with your words. I don't believe anymore that the majority in this forum (or in any other forum or exchange) is dreaming of a decentralized future free of control from banks and institutions. This was the dream of Satoshi and of few developers in the early days of Bitcoin. If you read the threads you'll see that 95%+ wants quick gain and turn them back to fiat. Although it is not bad to desire profit, I think I'm still a dreamer, dreaming of a better world.

Being based in Switzerland we participate in a lot of conversation about the future of crypto and regulation. Every time I raise the topic of regulation (e.g. security tokens vs. utility tokens, legality of ICOs)  this with the crypto community not many people in the community (e.g. on bitcointalk or reddit) seem to care.

Is the crypto community here purely interested in gains from trading, regardless of regulation? Are only bankers, lawyers and business consultants interested in setting the rules, controls and regulation?

Just curious to hear your views and opinions about the future of regulation and in case you read this, perhaps you could recommend other discussion groups for this type of conversations.

[musta5a]

Being based in Switzerland we participate in a lot of conversation about the future of crypto and regulation. Every time I raise the topic of regulation (e.g. security tokens vs. utility tokens, legality of ICOs)  this with the crypto community not many people in the community (e.g. on bitcointalk or reddit) seem to care.

Is the crypto community here purely interested in gains from trading, regardless of regulation? Are only bankers, lawyers and business consultants interested in setting the rules, controls and regulation?

Just curious to hear your views and opinions about the future of regulation and in case you read this, perhaps you could recommend other discussion groups for this type of conversations.

you should definitely care about SEC. If you're not based in US or investing in US based ICO, then you personally will be fine. However if the project you invest in supports also investors from US without proper compliance, that can hit your investment to the ground.

[anggriani]

Frankly many people care about it, but news about current regulators is often misused to scare and panic the users of crypto. I'm afraid that regulators will be used by some bad guys to monopolize the crypto world.

Remember, the head may be black, but the mind and the purpose must be different.

[Ostonian]

Most users on the forum are ordinary people who want to earn easy money. Thanks to bounty campaigns and successful ICO projects, they succeed. Maybe some small part of users are interested in the future of the currency, how it is regulated at the governmental level in this or that country.

[Cnut237]

I think that a lot of people care about regulation, but often this is just about how rumours of regulation affects coin price.
Personally I think that some sort of regulation is necessary to protect people from scams, and I do understand - without necessarily agreeing - the concerns about anonymity and money laundering.
Fundamentally we are powerless to determine what regulation will look like, so maybe for a lot of people they don't consider it as they have no influence or control over it.

[Sock778]

I care about profit, yeah. but I also care about the scams. I think it was cool when bitcoin came out and it wasn't a scam, so ppl were just making money.

But when it came to when ICOs came out, lots of things changed. Devs took advantage of Eth's ease of ERC20 token creation and started making scam coins.
 
And they can trick people too well.

So I think that's why we need some regulations to protect people.

[Idrisu]

The community participants are most interested on how to make bitcoin and crypto currencies and not really what lay ahead and the tools being used to control the crypto currencies market. The Bankers and governments know that the community is full of panic and using regulations to drive the price is what the think they can do. We should mush concerns ourselves with what need to be done in other for Bank and governments have confidence on crupto currencies.

[whatluke]

I have to agree with your words. I don't believe anymore that the majority in this forum (or in any other forum or exchange) is dreaming of a decentralized future free of control from banks and institutions. This was the dream of Satoshi and of few developers in the early days of Bitcoin. If you read the threads you'll see that 95%+ wants quick gain and turn them back to fiat. Although it is not bad to desire profit, I think I'm still a dreamer, dreaming of a better world.

Being based in Switzerland we participate in a lot of conversation about the future of crypto and regulation. Every time I raise the topic of regulation (e.g. security tokens vs. utility tokens, legality of ICOs)  this with the crypto community not many people in the community (e.g. on bitcointalk or reddit) seem to care.

Is the crypto community here purely interested in gains from trading, regardless of regulation? Are only bankers, lawyers and business consultants interested in setting the rules, controls and regulation?

Just curious to hear your views and opinions about the future of regulation and in case you read this, perhaps you could recommend other discussion groups for this type of conversations.

Good point, I think the dream of a decentralised future is great and the unfortunately the only way to get there is to get educated not only on the tech topics, but also regulation. I believe regulation hacking or reghacks (corporate people call it regtech!) is going to be a big thing, we are working with Property Coin, compliant with SEC, not many people have $300k to spend on legal fees to get their coin defined as a security token.

[whatluke]

The community participants are most interested on how to make bitcoin and crypto currencies and not really what lay ahead and the tools being used to control the crypto currencies market. The Bankers and governments know that the community is full of panic and using regulations to drive the price is what the think they can do. We should mush concerns ourselves with what need to be done in other for Bank and governments have confidence on crupto currencies.

The panic generation clearly worked in the USA, we need to get smarter and learn some of the regulations to be able to lower fees and barriers to entry. It's actually not that complicated and it will be much cheaper in the future to launch a fully regulated security coins.

[Nalbo]

Cryptocurrency and ICOs primarily had become an investing assets and most of them don't care about what regulations they may or may not have unless they are having the profit.
Regulation too is an easy word but the regulation of this technology would not be that easy for anyone.

[siddartha1492]

I would certainly want to see crypto sphere to be regulated. In the crypto world, it is so easy to launch a scam and get away. People can say whatever they want, but the truth is that with crypto-currencies it is much easier to do money laundering, sale and purchase of fake identities, arm and drug deals (not necessarily bad), blackmails, even child pornography. Criminals are actually converting their illegal money into crypto currencies. We do need some formula whereby we can stop the bad actors from abusing cryptos and at the same time maintaining privacy and freedom. Institutions like SEC does help in identifying scammers, if not with 100% accuracy. I would feel more safe and glad investing in a project approved by SEC than banned by it.

[mariaana]

Everyone does care about SEC and other regulations because it is a must to fill the KYC before we can join the token sale.  We cannot blame the agency if there are new regulations created for crypto. Drug bust related to bitcoin created a stir in the crypto world. see:  
http://www.abc.net.au/news/2017-12-15/us-prosecutors-rush-to-sell-bitcoin-seized-in-drug-bust/9264098.

Being based in Switzerland we participate in a lot of conversation about the future of crypto and regulation. Every time I raise the topic of regulation (e.g. security tokens vs. utility tokens, legality of ICOs)  this with the crypto community not many people in the community (e.g. on bitcointalk or reddit) seem to care.

Is the crypto community here purely interested in gains from trading, regardless of regulation? Are only bankers, lawyers and business consultants interested in setting the rules, controls and regulation?

Just curious to hear your views and opinions about the future of regulation and in case you read this, perhaps you could recommend other discussion groups for this type of conversations.

[whatluke]

I see even from reading the comments, which are very useful btw, that the confusion, misconceptions and fragmentation is huge when it comes to the regulation, no wonder no one is interested. We need well documented APIs for regulation!