Why do we need to regulate digital money

[sfdseew]

The characteristics of cryptocurrency have determined its nature, anonymity and decentralization, in order to protect the privacy of the holder. If Bitcoin can be traced to the use of illegal activities, then what is bitcoin and ordinary currency?...

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[petubtc]

But the problem is is was made not to be regulated. Even if there will be so many benefits and regulations, the fact that is decentralized, we can't do much about that.

[Saint1990]

Cryptocurrencies are better decentralized as there is no involvement of third person in transaction between two persons. Regulations should be introduced and implemented on the centralized exchanges & ICOs only. There are so many peoples who have lost their money through scam ICOs and centralized exchanges hacking, to tackle this issues there must be some guidelines or regulation should be introduce by the governments in interest of the investors protection.

[Btcnaivie]

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.

Definitely Yes I agree with you mate. Cryptocurrency really need to be regulated to have standard procedure in evry transaction. In order to avoid digital currency in using it in illegal transaction. Maybe in that way, the volatility of its price will not varry a lot.

[Fesatmas]

Because Digital money is not currently controlled so many people who get the bad impact of this currency. Regulating digital money is probably one way to tackle it but I think on such a cryptocurrency it is not necessary because I think it's better to be decentralized.

[timonig]

There can be huge problems like manipulation with digital money like bitcoins. This is why regulation is needed.

[RyhaniFoyej]

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?

Yes, digital currency is to change the world. For it people can easily pay any bills from their home. They do not have to go any place to pay the bills. As a result, they can save a lot of time. So it should be regulated.

As it doesn't track for this reason many criminals do their illegal tasks  easily. They are paying their money by it and no one can find or track them. And so their misdeeds continue to rise.
 
This is the most serious problem. These misdeeds should be stopped. To stop this misdeed should be regulated as soon as possible.

[Igromania]

I think we actually need to regulate digital money or cryptocurrency so that we can track the transactions that are happening. It is so that that like what you have mentioned , government can track these transactions specially those who are illegal or criminal transactions. The problem with is that the anonymous factor of bitcoin will be removed.  Well, we cannot control them government but it is actually good so that the rate of criminal case that uses cryptocurrency will decreased.

I hope that no one will regulate the cryptocurrency. She is was created in order to get away from banks and state control.

[pragna]

I think first of all government should decide will he accept digital currency to his country or not. If he accept digital currency it should be regulate in right way. At present time people exchanging digital currency in hide and secret. None can control digital currency as world is  in digitalization. When any government regulate that currency people will exchange currency in real way and as a result govt will benefited. Illegal use of currency will be controlled. But if not so all things will happen but govt will not benefited.

[Gabah56]

because a lot of devotees and many people who know the world of cryiptocurrency is a bitcon. Because it will automatically many people buy bitcoin and store their assets in bitcoin gan. this is one of the highest ha-bitcoin factor when compared with other coin .

[Sijan677]

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.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.

[tayecrypto]

Very small amount of regulations is fine but that's not what the governments want, they want to have complete control and they are going to put full on regulation measures once they get the chance. Some regulations are necessary as without them the scammers and hackers are going to be fearless...

[kingdom2710]

Crypto and fiat are valuable and they are currency. The government has imposed a digital money law because it can be a source of crime. I agree with what you are trying to say, besides it is also one of the factors that will help pre-engineering number of development and according to you it will lead to mass acceptance and avoid higher risk among users.

[gasparyu]

I think the only reason that digital money should be regulated is because of users utlizing these money for illegal activity. But as we know bitcoin is decetralized and will surely not be regualated in the future.

[brightology]

We are now in new Era of technology, which many communities has a network connecting across the global, therefore is a very good idea to introduce digital currency, because the world is growing faster, which every human needs to carry along.

[rightway00372018]

We are now in new Era of technology, which many communities has a network connecting across the global, therefore is a very good idea to introduce digital currency, because the world is growing faster, which every human needs to carry along.

Yes and people should know how does digital cryptocurrency in order to encourage community to invest on it and once many people are aware and knowledgeable it is now the time for cryto market to become progressive and profitable.

[Kahoy01]

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.

its a good idea to think there is a proper regulation among cryptocurrency, and it doesn't mean it is required to be implemented. i agree with what you are trying to say, besides it is also one of the factors that will help the digital currency grow and according to you it will lead to mass adoption and avoid higher risks among users.

Since bitcoin is under a decentralized system and no one governs it, We should implement physical regulations or rules for bitcoin. The advantages of bitcoin towards anonymous transaction is being taken for granted by the criminals since there is a low fee for every transactions. The government must legalize digital currency with utmost monitoring and orders.

[damrianto]

the digital money system does not need us to do that arrangement is done by the network system which is guarded by all cryptocurrency. any price movement Bitcoin also shows price fluctuations that all caused by the market transaction itself it can not change that can only happen because traders speculation.

[firefighters01]

i think Digital currency or more commonly known as cryptocurrency needs to be regulated as it needs to have features in olace that will protect us the consumer and those that would operate this from misuse and other kinds of fraud and 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

[Buttermellow]

This is why we need to let the government regulate cryptocurrency so as to avoid the the system to be abused by anybody from money laundering, funding the terrorist group and etc. In this way government can do intensified KYC (Know Your Client) on all local exchanges. This is also to encourage everybody to invest and get engage in cryptocurrency investment.