Why do we need to regulate digital money

[Abubakarbinsajid]

Well, digital currency like Bitcoin, in theory, cannot be controlled by governments, or by anybody for that matter. It’s a decentralized currency system with a fixed supply that is essentially run by robots/computers. It’s controlled by the source code that defines its rules of currency production. For Bitcoin, in example, only 21 million Bitcoins will ever be created. This number is hard coded into its blueprint/code.

its good to regulate digital currency because you can get yours profit regularly and have less chances of loss in digital currency

[Hotrod_88]

Digital currencies have changed a lot, digital currencies do need to be organized so as not to happen for abuse by criminals, and with those rules will make the user feel comfortable.

That is a big question though. why regulate digital money why work hard for it if you can just regulate it. the world is so confusing.

[Mwalshe89]

Regulation is necessary because the price of crypto currency is too easily subject to change, which is why many people lose money! In addition, bitcoin is used for illegal purposes and crime!

[sclmte]

We need regulations so one person or a few people who have a lot of coins in their possession cannot just sway the market in their favor anytime they wish thereby screwing everyone else over. And it will eliminate insider trading.

Regulations isn't a way to control the entire market transactions but to eliminate those people trying to scam crypto investors. I don't see any negativity regarding regulations instead, it could help us to be far from losing our money since there is somewhat to say market price volatility will decrease. Moving forward to that, it could be great to have government participation to secure our investment in the future.

[xiboothrezi]

Simply put, because we live as citizens. The Government has full responsibility and control over the applicable laws of the country. although the government can not control bitcoin or altcoin but the government has the right to ban its use.

[bitcoinerjawa]

I think with the regulation for the digital currency will be able to make the circulation of digital currency more recognized and can be accepted by the government as one of legal payments.

[prediction on bush]

Digital currency is to change the world, many of which were positive, to a certain extent, they pose a containment of the government, gave the people an alternative, but that doesn't mean they don't need to be regulated.


One of the core reason is: anonymous, do not track, not regulated digital currency will make form a closed loop technology crime, money laundering and terrorist, and disappear from unsolved bits, bytes, while the impact damage with each person in this world.


If every penny of extortion is tracked, is there enough motivation and courage to launch a WannaCry to attack the world?

I think why do we need to regulate digital money is to get a protection from the government and to avoid more than a lot of negative actions as well ass it will not get hit by a bad elements.

[Harley0501]

Regulating digital money only work as legal payment in their country. But without regulation, we can invest, trade as digital asset, but all risk borne alone.

[HanaTenun]

Regulation is necessary because the price of crypto currency is too easily subject to change, which is why many people lose money! In addition, bitcoin is used for illegal purposes and crime!

I agree the value of digital currency is very rapidly changing, that is why many countries have not been able to receive this digital money development. the state has not been able to regulate the regulation of digital money turns, there is nothing to control other than the interest of the market itself, it would be dangerous for a country's finances where their fiat money is replaced by this digital currency.

[Yash arora]

Because of digital crimes

[Pumapipa]

We need to somehow regulate the use of digital money just to prevent eventual mishaps and to be used this platform as a conduit to committing crimes. This will settle as consumers protection as well as protection I'd the national defense releasing funds to identified personnel only. And besides taxes will follow regulation, it wil be a good time to put taxes on cryptos.

[jonaire99]

Because of digital crimes

Yes, one of the reasons why some countries are banning bitcoin because they can't regulate it effectively or lack the necessary laws in regulating it. Other governments imposed regulaions on cryptocurrency exchanges to monitor the inflows and outflows of the virtual coins. Digital crimes or the use of virtual coins in illegal acts are becoming rampant and governments have to act swiftly to protect people.

[rosechoco]

Regulation is not going to stop crime.  The use of worlwide regulation is inevitable because more countries are planning to impose it in the near future to safeguard them financially. Financial regulations are imposed by the governments on businesses and financial institutions in order to manage a nation's financial system.

[godrey123]

regulating digital money is easier said than done, But I think it is a good thing for bitcoin community if it happens because with that people will have more trust in bitcoin and they will invest in it. With that the increase on demand will make bitcoin bitcoin price go up.

[Rhaizan]

regulating digital money is easier said than done, But I think it is a good thing for bitcoin community if it happens because with that people will have more trust in bitcoin and they will invest in it. With that the increase on demand will make bitcoin bitcoin price go up.

But how we trust bitcoin now ? It takes so long since the price of bitcoin down, actually I am getting panic now because I already lost my money and I don't know if it's can recover soon or not.

[vessing]

Extensive regulation and prohibitions of ICO and crypto-currency will throttle innovations in the field of financial technologies and investments that have already begun. In addition, the blockade caused a revolution in distributed technologies and applications

[MaidaKalani]

Digital currencies need to be regulated because to prevent the use of digital money for money laundering and terrorism financing purposes.
arrangements are still needed to the entity and more to the activities, such as who does what, where they get licensed and supervised.
Most digital money transactions have so far been run unadjusted, especially since bitcoins first rolled in 2009. However, the government and the central bank are now beginning to pay attention and warn investors of potential fraud.

[franantp]

I think We need regulations so one person or a few people who have a lot of coins in their possession cannot just sway the market in their favor anytime they wish thereby screwing everyone else over and we need to regulate digital mpney to maintain balance in this digital world. The price just keeps on bumping up and down with a huge difference. And this is just insane, most people lose interest because of this. And most coins gets dumped

[senin]

The digital currency needs to be regulated, but it needs to be done carefully, so as not to harm its basic principles. This, of course, is a very difficult question. On the one hand, we see that the Crypto currency is not yet perfect, it has many drawbacks, on the other hand, its regulation can lead to the fact that the advantages it gives us will disappear. In my opinion, it is necessary to preserve its decentralization and at least relative anonymity. While there is a big problem with the volatility of the crypto currency. If it is maintained, the crypto currency can only be used along with centralized money. Most likely, while it will be so. All the rest, I mean the rules of circulation of crypto currency in the society, can and should be subject to regulation.

[Neconic]

Everything in this world needs to be regulated. If you give people the ultimate freedom, they will abuse it. My only concern is that the politics always gets involved in such scenarios. They try to manipulate and exploit things on behalf of the people.