Why do we need to regulate digital money

[Hirikama29]

Because digital money is constantly evolving to meet that need, we need to change and continually develop digital currency systems to make them more compatible with the times so we need to regulate digital money

[market-beta]

if I'm just a small investor. what does a small investor mean to regulate the bitcoin world? if I do not want to take a headache. the important thing is I keep investing and learn smart in investing of course with experience with incident that I have experienced

[Tuyul_Dollar]

Because digital money is more prone to disappear or hack than paper money. What if it is not set we will easily lose digital money. The government enforce the law in digital currency because it can be a source of crime for hackers. If the government will not arrange cryptocurrency, it can be tools someday to fight and will result in conflict in our society as well as the world.

[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 think one of the concerns that the government and banks have with digital currency is that they are anonymous, in which can be used for money laundering and fraudulent purposes. Yup, it's true because Bitcoin is decentralized. It is why they want to regulate Bitcoin because they cannot control or stop it. Just my two sats.

[rudox]

Decentralization makes bitcoin to be attractive to people who are concerned about high rate of tax. If government succeed to regulate biotcoin then the basic principle of bitcoin would have been eroded and it will be good for nothing. Bitcoin is purely made for business transaction for P2P on normal by using bitcoin for business transaction but evil men now make wrong choices by using bitcoin for evil tendencies.

[Blackhammer321]

we don't need to regulate cryptocurrencies but regulations can be also helpful with the adoption and growth of them or they can be restrictive and even prevent the adoption altogether. in the end it will come down to what they are regulating and how. for example if it is regulation of exchanges and if it leads to a more secure place where people can trade with less risk that would be a very good thing.

If we are talking about the possibilities or the cons, the digital money has, it is indeed meeded to be regulated in order to ensure the security of every users. In able for us to have more security in every transaction we are up to. And also in that way the scammers may be track down and banned using crypto.

[supermine]

Regulation is totally against the basic nature of bitcoin and the decentralization but for now it can do good things to the crypto currency market.People will accept crypto currency when it made legal in their country and it also bring new revenue to the country which is a good thing.But still we can't able to take the full control and more anonymous cryptos are available than bitcoin so complete regulation is impossible.

[Dudeperfect]

Well, it doesn't make any sense if we are regulating it and calling a decentralized system of money. I don't think that we have any requirement of the regulation because decentralization is the solution for drawbacks in centralised regulated systems. I can understand the concern of OP, but regulation is definitely not the answer to such issues. Banks are regulated by the government but still, scams take place even in the banking system.

[royalbittinz]

It is a great idea to regulate digital money because it will close every loop holes government looters,
scammers and terrorist are using fund their organizations and enrich themselves.
But the thing is that digital money have transform the lives of many especially those
from countries their government don't really care about their citizens. But once government
starts regulating digital money, they will place heavy tax to most crypto holders.

Once Bitcoin becomes centralized, its purpose will halted and lose its value. Regulating Bitcoin
is almost impossible because everyday new anonymous coins are created and the population
of the crypto world is increasing everyday.

[jakoylantern]

For me, we need to monitor this person that are using the digital money to do their illegal activities. We all know that there are so many cryptocurrencies out there and few of them is used in some illegal activities like scamming fraudulence and use to buy some illegal stuff in the black market. That is the main reason why some country already ban and prohibit bitcoin and another cryptocurrency because this bad person uses the advance of digital currency.

[bellator66]

we need to set up digital currency, so the government can help to review and limit the number of crypto in the market as this is probably the reason why cryptocurrency markets fall because of unfavorable coins that make investors reluctant to invest to cut their losses.

[Rustandy]

Rules are required for entities and more for activities, such as who does what, where they get licensed and supervised. Most digital money transactions to date are run without arrangement. However, the government and the central bank are now beginning to pay attention and warn investors of potential fraud, there is the possibility of digital money being used for illicit activities such as money laundering and terrorism financing.

[Kittygalore]

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.

The regulation is for us the users to feel more safe while using cryptocurrency, or the digital currency. Even though the moderator have regulations it is not enough because it is not part for them to regulate the outside transaction or what the transaction is for. So it is a good thing if the government opens its mind and accept crypto for the society to be able to have safety and avoid different illegal transactions.

[redhorsebeer1980]

we need to set up digital currency, so the government can help to review and limit the number of crypto in the market as this is probably the reason why cryptocurrency markets fall because of unfavorable coins that make investors reluctant to invest to cut their losses.

Wether it is regulated or not,there has been always a negative and positive result that we are going look into because some people may use the digital currency in their illegal activities.

[louis sean]

We need to manage digital money because we have to monitor and see what price or percentage every day, so we can know the price rises and the decline of the market of the coin

[cposeidon123]

Because there are still unknown things that a digital money can do and it can harm if authority does not regulate cryptocurrency. One thing that I am sure is that cryptocurrency can be used for illicit activities and not worry that they are tracked, cryptocurrency is a double edged sword, it can do bad and good but it is up to the person wielding the ability to choose what to do.

[jtrapirap]

Eventhough digital money means decentralization and anonymity might also means not to be regulated, is I believe will need some further rules and regulations also in some way to prevent abusers and criminals to go onto digital money business. Just like before cyber crime wasn't realize by law enforcement since at the very first place internet came into scene, they only believe that these technology might only bring comfort to our lifestyle and advancement to our technology. Internet had been used by criminals and abusers as a tool to scam people and commits crime. Therefore at some point in blockchain era, we would also come up with rules and regulation somehow that might benefit all the community in cryptocurrency.

[Fear]

Regulation is needed in order to have an order in all of these things. Because without any regulations digital currencies can just keep the world into chaos. Any economic system needs to be controlled and regulated as well.

[CanineDanny]

Digital anarchy sounds tempting, of course, but most people I believe want to feel secure, so governments must come up with a fair way to regulate digital money. Without it we might face trouble.

[Usmanmuhon]

Digital currency must need to be a regulate. Without any rule digital money must face trouble. every currency have a some kind of pattern and rules. so digital currency also need that. otherwise digital currency have to face same damages and there values goes down. And people are less interest about it.so regulate digital money is very important.