Why do we need to regulate digital money

[BitRentXx]

The main purpose of bitcoin is not as a money laundering tool but as a means of payment. Bitcoin is made to make money transactions faster. In order for the balance in money storage is no longer reduced by the monthly storage fee.
If you think that bitcoin is just a money laundering tool, you're wrong. So far, there is no money laundering using bitcoin.
Bitcoin is indicated as a money laundering tool because bitcoin is very valuable and if anyone says that bitcoin transactions can not be traced, this is definitely a lie. Because everything related to the internet must leave a trace, unless you do a manual transaction.
And about any bitcoin-related crime. It also goes back to each of us, to what and in what way do we buy bitcoins.
And in my opinion, applying rules to bitcoin is not easy unless your government is really against technology.

[lasry]

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. Seems like there is always the level of risk that is same with gambling. And crypto isnt gambling at all.

[Trimegistus]

You should take the time to read BTC's seminal paper:

"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution."

"What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party. Transactions that are computationally impractical to reverse would protect sellers from fraud, and routine escrow mechanisms could easily be implemented to protect buyers."

Satoshi Nakamoto in Bitcoin: A Peer-to-Peer Electronic Cash System

[cheezcarls]

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 am honestly in favor of regulating digital currencies. As much that regulation had created a short-term downtrend, it would be worth it in the long run once massive adoption of cryptocurrencies is coming in the next five or more years. Because of new technology, criminal activities are also evolving, and that's why digital currency regulation is necessary despite that it cannot be controlled by banks and government.

[paul gatt]

Technological revolution 4.0, all human activities are linked to the internet. The trading, trading, and trading will occur primarily on the net; There must be a suitable payment method and digital money is created to meet the transaction needs. So we need to adjust digital money.

[yudi31]

we must manage digital money because all parties today have actively prevented the use of digital money for money laundering and terrorism financing purposes. However, Lagarde argues, arrangements are still needed to the entity and more to the activities, such as who does what, where they get licensed and supervised.

[reighbut2017]

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?

It is very important to regulate digital money so the government can collect taxes to all cryptocurrency transaction that may help improve the country's economy.

[Sandus_Cryptolover]

It needed to be regulated to gain more trust and assurance while trading. Currently the volatility is just too much as no one is guaranteed of making his/her capital back let alone profit.

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?

[shesheboy]

It is very important to regulate digital money so the government can collect taxes to all cryptocurrency transaction that may help improve the country's economy.

You got some point but we all know that taxes are a pain on the ass and also not governments are good because a lot of them are known to be corrupt . The government can only use the tax for them selves and not on the sake of the country.  

Being regulated can also lead to some major problems such as the value of cryptos will not be volatile and if they are not volatile anymore we cannot expect to earn high profit.

Those are only the few reasons that i can think of regarding on regulations. For sure many people will not also like the idea of cryptos being regulated by government.

[mriansa]

some countries need regulation for bitcoin circulation because I think in a country with very good financial condition and there is development of cyrptocurrency or digital currency like bitcoin there should be regulation to be able to legalize bitcoin usage activity.

[markleal]

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?

Hi there lantan81383628! I think you didnt fully understand the blockchain technology. In deed, the bitcoin that run thru the system is anonymous. But it doesn't mean that it is not traceable. There are even notion that, the blockchain technology is so transparent that even terrorist cant hide their transactions and it is not undoable or deletable. One of the problem maybe is that each address can't hardly be linked to a person specially if you dont have access to the wallet company. Thus, the government issue a policy to require each account holder of these cryptocurrency wallet company to require a valid address and personal verification to prevent such illegal activities.

[funchiestz]

Crypto is a decentralized structure on the basis of money, but certainly a state protection and borderline is necessary. Otherwise, SCAM projects and platforms will do much harm.

[poisonivy77]

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?

Although there are many users who abuse the use of bitcoin and many illegal doings are maid, still I think there is no need for regulation since especially if the government have to take that part.

[greg0rioo]

The rules for digital currency are indispensable so that every transaction is not misused by bad guys. If the digital currency is not regulated it will be used for an illegal act, which will someday harm the digital currency itself as blocked digital currency.

[lanalang]

digital money are future and they must be regulate very carefully, because in all over the word are corruption in government. and there are hackers that want to still your money

[cacakuswaya]

digital money are future and they must be regulate very carefully, because in all over the word are corruption in government. and there are hackers that want to still your money

it's true that digital money management must be managed and protected in the right way, in order to avoid hacking which results in us losing our balance on the wallet.

[Bitcoinismylife12345]

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?

Cryptocurrencies don't need to be regulate however it is need a regulations to prevent harmful things that may cause lose to the users. Regulations somehow lead bitcoin coins to regulate automatically.

[komisan]

Until recently government’s attitude towards cryptocurrency was as to an elephant in the room — they saw it, but pretended they didn’t. Maybe, they hoped that its success won’t last long and it would self-destruct soon. But in 2017, which we can without any doubt call the year of crypto, ignoring the existence of such powerful and spreading phenomenon became impossible, so cryptocurrency regulation is the question number one.

Opinions among crypto community have divided into two contradicting groups: some crypto enthusiasts flinch with disgust every time they hear word “regulation”, some, in opposite, see it as the only and essential way for crypto to become full-fledged substitute of fiat money.

the speed with which cryptoworld is developing is incredible, and soon it will become huge financial sphere, that must be regulated for the security and convenience of usage. Regulation doesn’t mean ban or total control of cryptocurrency — it is just set of rules that helps to manage complex system.

Below is just a kind of summary of why digital money need regulations:
1.  To make it equal participant of financial world
2.   To win people’s trust
3.   To protect users from frauds and scams
4.   To avoid market manipulations

[Seeker#9]

Regulating cryptocurrency is not possible because it is decentralized but regulating the transactions in the cryptocurrency exchanges is possible and some governments have already imposed this kind of rules. The aim of regulation is to protect the bitcoin users from any scams that involved bitcoin and other cryptocurrencies and prevent some people in using it from any illegal acts. But it is impossible to prevent some bad elements in using bitcoin in their illegal business so the government will monitor the flow of virtual currency instead.

[carlisle1]

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?

To prevent all the negative issues about cryptocurrency i guess this is the time to have regulation,to stop what others think to this community,specially the illegal use of this.

And the most target of this are the scamming that happening here,those damn ico projects that always do aggravate to others