Why do we need to regulate digital money

[angelakrasnova]

Regulation is created to ensure the security of transactions and transfer, so that bitcoin is not used for illegal purposes

[marmeladko]

We need regulation because market has its own limits. Without government regulation, projects can’t gain users base and earn more money. Also while community is small, we won’t be able to spend digital money in real life.

[SaiWAFU]

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?

Reasons that you have stated are mostly correct. To add another reason is that cryptocurrencies are subjected for regulation to avoid tax evasion which is essential to economy's growth. Don't need to explain the purpose of paying tax but benefits will be removed in the long run if most people would resort in anonymous transactions.

[ellabanana]

One of the unique characteristics of cryptocurrency is being decentralized, so if we want it to be regulated by the government, well it would lose it's uniqueness.

[Happydd]

Digital currency is a step up in modern technology. Hot on the money market today. It has a great influence on the economy, finance of the country. Therefore, countries should have the bitcoin adjustment for the most appropriate price.

[rh72]

Yes regulate 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. So that, the regulation more focuse in transaction, not in entity of crypto.

[Kprawn]

Regulation is created to ensure the security of transactions and transfer, so that bitcoin is not used for illegal purposes

No my friend, you are totally missing the point with regulations. Governments have developed mechanisms and regulations to control people, not to prevent crime. If that was effective, then we would not still be busy fighting huge Drug cartels and massive money laundering operations that are done through Banks.

Regulations will not in any way stop illegal operations, because it is highly ineffective. {People use fake documents}

The best way to stop crime is to follow the money and to address the social economic reasons behind these crimes. If a government build a strong economy, then less people will turn to crime, because they will have legitimate ways of earning a income. {It will never stop completely, because people will never have enough money and people are greedy by nature} 

[callmeback]

We need it to secure our money, 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. . Don't need to explain the purpose of paying tax but benefits will be removed in the long run if most people would resort in anonymous transactions. The digital currency can be used to transact and be acknowledged by the government so there will be trust and safety to use the money without fear if the money is not accepted as a transaction tool.

[ICBCOK]

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.

[Ankhesenamun]

Digital currency like any other currency must be controlled at the highest level. Must control the government. To avoid economic and informational threats, the different conflicts on the background of lack of control of digital money.

[tanjilrifat]

I think individual with enough motivation could in theory act as their own authority to hold individuals accountable for their actions.

[jamisky]

To regulate any type of currency is the best.  It will eradicate any form of instability that we are currently seeing in the cryptocurrency market.  It actually not important to regulate the crypto market but it's necessary in order to provide a stable base for transactions to be made.

[nydiacaskey01]

Regulation works like a double edged sword. There's pro's and con's.
Pro's will be with regulation it open sits doors legally to every person who wants to have and hold Bitcoins legally. If they wan't to sell it, it would be easy because exchangers will be easier to find and the risk of being scammed is less since exhangers needs to go through a lot to do business. Downside is that regulation can be used by those who can pull a lot of strings to protect their business where Bitcoin acts as a threat. Those big businesses can call someone to create laws or regulation to give Bitcoin holders and users a hard time to use it and exchange it.

[wengden]

As you observe,digital currency has no value in it. But even though it doesnt have value, still it is a big help for us. It will make our transaction easy. We can now consume time.

[sotoshihero]

Regulation works like a double edged sword. There's pro's and con's.
Pro's will be with regulation it open sits doors legally to every person who wants to have and hold Bitcoins legally. If they wan't to sell it, it would be easy because exchangers will be easier to find and the risk of being scammed is less since exhangers needs to go through a lot to do business. Downside is that regulation can be used by those who can pull a lot of strings to protect their business where Bitcoin acts as a threat. Those big businesses can call someone to create laws or regulation to give Bitcoin holders and users a hard time to use it and exchange it.

Yes, it has advantage and disadvantage.Being regulated meaning a government or a body has a control over it. I like it being unregulated,being free to spend it anywhere. What I want to be regulated is the ICO's. Those project are flooding already, and some are scams especially on the platform. Hope to curb those scam ICO's.

[rafi035]

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 not the required arrangement currently required is only strict supervision, the arrangement is necessary if it is bitcoin and its investors do something negative

[Jihuny23]

I strongly agree if bitcoin is governed by certain parties. This is to prevent crime. Meaning, people will not abuse using bitcoins. Besides that, if bitcoin market is not regulated then I am afraid if the crypto currency market is dominated by giant financiers. This is called "spoofy". Spoofy is a term for traders who engage in "spoofing" activities, an attempt to manipulate markets and create a condition that seems "bullish" or rising commodity prices, so that other market participants are in droves to buy the commodity. If this happens on bitcoin then many bitcoin users will incur losses.

[Md.salauddin]

Digital currency is now become a vast subject and it will become very hard to regulate it. But if we imposed some rules and follow them strictly then we can save it from being misuse.

[Teal Deer]

It seems to me there is no sense to regulate cryptocurrencies. But this is now actively engaged in many States around the world. Against the background of the popularization of the cryptocurrency and the increase in capitalization, many countries have decided to impose a profit from the sale of cryptocurrencies by analogy with the sale of capital assets. The amount of tax varies when selling short-term (15%) or long-term assets (20%). In the second case, the cryptocurrency must be owned for more than 12 months.

[tokenomics]

They’re attractive to criminals due to the pseudo-anonymity created by cryptography and a peer-to-peer architecture provided by blockchain technology. Regulating the industry is necessary because it removes an intelligence black spot that’s exploited by criminals. Digital currencies including cryptocurrencies such as Bitcoin, Ethereum, and Ripple, these can pose numerous security challenges for governments.