Why do we need to regulate digital money

[osmo]

regulating digital money is very necessary to avoid cyrpto scam, because currently there are so many coins or ico that are scam so that it is detrimental to many investors or the community, making cyrpto market interested in increasing, if the regulation is good then the development of cyrpto in the future will be good

[ohkkstaaahp]

We are a small individual who can not regulate the market

[pat4cryptoreal]

Before we start to look for an alternative to the world financial crises and inequality in circulation, we need a financial system that entirely different from the one we know and have been operating with for centuries. Let us leave cryptocurrency to remain unregulated for a while so that we can spot it impact to humanity generally. Digital currency is the currency for the people.

[@boy76et]

It will be good to regulate crytocurrency everyone will be confident using it. This will gain more investors.

[annaso]

In my view, regulating bitcoin worldwide is challenging. A fairer comparison would be the so-called dark web. Although individual sites, servers and people involved with various activities on there may occasionally be arrested for illegal activities, it would be ridiculous to think any government could regulate the entire network. Trying to ban bitcoin or regulate it in a manner that allows actual oversight would be much the same. It’s impossible on a technical level.

[Rozita]

Regulations have its own pros and cons. Regulations can be good to the crypto industry in the sense that it will win the acceptance of the governments and lead to the announcement of the legitimacy of cryptocurrency and as such increase the adoption of cryptocurrency.
On the other hand, regulations can lead to the destruction of the decentralized nature of cryptocurrency. With this, governments will have absolute control over the transactions involved in cryptocurrency.

In my opinion regulations must be done only for exchanges owners and those who are running ICOs. It shouldn't be applied to ordinary people. Otherwise, the main purpose of cryptocurrencies is ignored.

[Kokoy]

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 agreebwith that from the world digital, mean it relates with cyber identity in which it may be true or not and if we trutst people easily thry may fool us unknowingly since we are attached to the things that they may used to decieve us and I think ,digital promotes anonhmity which has pros and cons undeniably so better to be with regulations.

[Don Karnage]

Cryptocurrencies are too young to let them go to free without any regulation. Over time, the need for this will be less, but now it is necessary

[Rozita]

Cryptocurrencies are too young to let them go to free without any regulation. Over time, the need for this will be less, but now it is necessary

But I think the need for this will be more. Because more money and more people come to this market, more scam will be appeared.

[Emily_Davis]

This is what I have been saying for sometime now. The idea of deregulation of cryptocurrency is its undoing in my opinion. If you insist that digital currencies shouldn't be regulated, then we have a problem at hand. Many governments will find it harder to permit its free flow. I feel the faster it is regulated, the better. If digital currencies hope to gain some credibility, then it's only a matter of time before we see this. Anonymity doesn't really speak well of the system. The need to track transactions too cannot be waved off.

[munareal]

We need to regulate the crypto space because of us. Scammers can be traced with policies, procedures and regulation. With that, there will be a wider acceptance of the cryptocurrencies. We need to know we are safe in investing our hard earn coins

[rakesh6162]

As demand for cryptocurrency grows, global regulators are divided on how to keep up. Most digital curriencies are not backed by any central government, meaning each country has different standards. Digital currency is necessary to regulate in all over the world because it prevent the misuse of the currency. Some of the countries like Japan, Thailand etc has been regulated the cryptocurrency and here are accepting the digital money .

[dimastegar]

Digital money must be regulated because each state government has their own FIAT which is the main payment instrument. Of course, the government will limit the use of digital money in its country. In essence, the regulation was made to limit the function of digital money that could reduce the use of Fiat in a country.

[Vincemanam21]

digital currency or money must be regulate, in order the money inside a government must circulate well. And the hackers will not be interested in doing something wrong

[DainSLane]

We need to regulate the digital currency in the whole country so that it can easy to us to get in business or even in different transaction in terms of payment online, digital currency is very useful when you go to in abroad no need to bring fiat money instead bring only your gadgets.

[blackbold]

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.

not only abuse by criminals but also the security of digital money is a problem. changing forms of money making thieves way also changed because of the crime also evolve

[KenChanYu]

Digital money must be regulated because each state government has their own FIAT which is the main payment instrument. Of course, the government will limit the use of digital money in its country. In essence, the regulation was made to limit the function of digital money that could reduce the use of Fiat in a country.

If there's a limit of digital money usage, the government has their own reasons to do that. They're threatened that digital money will overpower fiat currency, because the people was more desirable in patronizing digital currency due to its fast transaction method. In real scenario it doesn't reduce the use of fiat in the country and it was just their hesitations. The people will not use digital money most of the time, there might be instances that we need to cash out our digital money for local good particular of establishment that doesn't have digital currency payment options.

[NotSacomeo]

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.

[poli_btc]

If cryptocurrencies are not regulated by anyone, for example, 1 bitcoin can cost 1000 000 dollars and every second resident will become rich.At the same time, no one will want to work and everything in the world will collapse!

[onaiwusun]

Stiff regulation invariably may lead to some form of centralization and eventually destroy the primal ideal of decentralization which cryptos brings, imagine the government fixes a minimum amount of cash say 250k$ for everyone who intends to invest in cryptos, that will essentially remove the poor from the market and make it for the super rich.