Why do we need to regulate digital money

[Akenosi]

To make people trust it and believe in it, regulations is really required this time when so many ico has been coming out without proper use case of the project

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[StImelda]

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?

Actually there is a distinction between crypto-currency and  digital money but I understand  you mean to include cryptos in this nice post. We are at a dilemma  here, should we forego anonymous and get rewarded  with a market were there less tendency  to be scammed and a meeting robust market. I think a mid-way solution will be proper. KYC for huge investor, ICOs meet minimum set standards and projects which do not conduct ICOs be allowed to thrive.

[yecats]

One of the reason why government  regulate  bitcoin it is because. It might lead  others to money laundering. Avoid others who don't undestand bitcoin  from scam as well. For me because we cannot educate all of the people in our country.

[Yarsk]

Well the government as the regulating body have the responsibility of controlling all the financial activities that flow within they territory and bitcoin is part of that financial institution, regulating bitcoin will minimize the level of loss in the system and also help to reduce the risk investors face while investing in bitcoin.

[Sanu Simon]

I expect bitcoin to be unregulated, because when the regulation began the growth got interrupted. With the regulations only a group of people who were in fear investing on a decentralized platform will get a confidence to invest. Others who have been into bitcoin won't give it a consideration.

[Trimegistus]

Like everything else in life, regulation has two sides to it:

- Regulation will bring stability and that might be of paramount importance to make crypto assets accepted at a global scale.

- But regulation will end decentralization. And who will regulate? And how?

[renggileh]

Digital currency is fairly new to the public and it definitely needs some rules to hold it in place and for it to be a norm. Regulations are made to keep society in order and with the entrance of digital currency it needs to have regulations so that it can't be used illegally.

[Tatzky]

I guess in the future there will be a project that will do the tracking and people just need to register from it or provide KYC if the government will run this blockchains and project but I do not like the idea of every digital money be regulated since there will be control by powerful people again.

[youngsoft]

Cyptocurrency is genuinely new to general society and it unquestionably needs a few tenets to hold it set up and for it to be a standard. Controls are made to keep society all together and with the passageway of Cyptocurrency it needs directions so it can't be utilized illicitly.

[dodz031718]

Regulated digital money is needed because we know that there is black side activities like money laundry and terorism can't be tracked and can use crypto to operate easily.Cryptomarket growing bigger than last years and market cap and that is why regulation needed.

[Vineeta2oct]

Digital money is deflationary in nature just like fiat but it can be easily manipulated by the big investors at their will. Plus if it is regulated then there would be less scams because of rules and regulations.

[ordeath]

Day by day is an event for us and day by day the change we make is changing so that each time we fit into bitcoin life too they need to be changed to grow we need to regulate digital money

I think if we would not regulate and take care of digital money then we would face all the different filthy things that people would only invent. Because if something is not regulated by law people are in renting 1000 Ways how to deceive each other with that. Look on ICO.

[muneeb.zain]

Now it the time that around us almost about 90% off things which we are using are convert to digital setup and now a day its hard to carry the money with you so it is a good thing that you just have to carry your phone from where via a digital wallet account you can pay for the goods and have them.It can also reduced the daily thing we are carrying with us and give us the huge comfort

[devlincarter.868]

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.They try to manipulate and exploit things on behalf of the people.

[Macai]

We need to regulate digital money because we later on face a cash less society. So we need to educate people in advance technology using digital currency. Digital money will be the money of the future and it is now being regulated in some countries.

[Ethan Argu]

Because of globalization and innovating technology, now adays peope use social media to sell stuff or make a service its good to promote bitcoin im community as a mode of transaction improving how we pay or how we buy. Its important to know the feeling of the customer in terms of buying in a no hassle pay.by clicking your mobile phone.

[Coinlover9]

Because of security purposes so that it's not used to help in illegal trade which hurts the global economy and indirect us the consumers.it not a one way street so we have carefully design it to serve our purposes.

[Gila uang]

there is need to regulate bitcoin, because of abuse, govt should initiate bitcoin regulation, as it will attract more users, many people still has not tap into the bitcoin tech, because Govt has not officially regulate it,even some Govt warn their citizens to stay away from bitcoin. but  ones there is regulation we will witness a mass adoption of bitcoin.

I think in the end it will go down to what they set and how. for example if the exchange rules and if it leads to a safer place where people can trade with less risk it will be a very good thing.
we do not need to set cryptocurrency, but regulation can also help with their adoption and growth or they can limit and even prevent adoption at all.

[upinros]

Yes digital currency settings like Bitcoin are hard to do and we have to set the Bitcoin currency in order not to be used for crime, and in order to run properly in accordance with the rules. Digital currency is necessary because it prevents the misuse of the currency itself and provides assurance to all users of the eye digital money if the currency can be used to transact and be recognized by the government so there will be trust and security to use money without fear.

[adzino]

Do you really think the government was able to stop most of the things you mentioned by regulating money? Were they able to reduce crime like online scams, money laundering, money counterfeiting etc by regulating fiat? All they did was create more hassle instead. The government does not like decentralized things. This is a reason why they hate crypto currency and regulating it so that they can indirectly bring power to themselves and control bitcoin.