Why do we need to regulate digital money

[chrisnewsome]

I think that we need to regulate digital money is because Bitcoin strengthened the purchasing power of the people. Once the purchasing power of the people increase drastically, the laws of Economics will severely impacted, resulting into chaos within the country and destablization of the government.

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[Nunii]

Yeah. Fiat which has physical form is regulated, how much more are digital and virtual currencies, right? It is just normal or just to regulate this industry. One reason is, to control the people who will get in and out of the scene. People who conform with the rule can freely move inside the crypto world. Second, it is just like money, government need taxes from the income we make, especially for traders. If it will not be regulated, then the government may lose opportunity to collect what is due. Third, for the security of its people. The government will not trade security over this. If people will be unjustly enriched over the suffering of others, then they will not promote it. Hence, regulation is really needed.

[DennyPen]

In terms of profits, regulation may bring new investors, which will positively affect the price.

[Supremacy1]

We are the cryptocurrency , I don't mind if government regulate it bcos some individual or group are using it to scam or committing other social vices

[Sengkuni]

in my opinion, having digital money with paper money is very different and digital money must be noted for its development, namely the ups and downs of prices and the need for patience to have a good price.

[project_delta]

As long as powerful governments exist (which they certainly will in the short to medium term, and most likely will in the long term), regulation is pretty much inevitable.  

It's important for them to regulate it so that they can monitor what taxes people are paying, since many Bitcoin users seem to avoid it.  It's also important for them to try and prevent illegal activity by monitoring exchanges.  

Sure, regulation isn't very effective in all cases, but when you have laws in place, you need to be careful not to let some people off the hook or you'll end up with protests.

Interesting! But here's a thought, isn't avoiding taxes  one of the biggest reason why people are interested in bitcoins in the first place?

[ribowo76]

I believe, with the right rules. Bitcoin will actually eliminate, or at least reduce crime. Examples of money laundering, extortion and so on

[FallenBtcAngel]

I believe, with the right rules. Bitcoin will actually eliminate, or at least reduce crime. Examples of money laundering, extortion and so on

Do you think btc will? Smart contracts look better for that case, do they?

[Delinquency]

Digital currencies is definitely new to the general population and it unquestionable needs a few guidelines to hold it set up and for it to be a standard. Controls are made to keep society all together and with the passageway of digital currencies it needs directions so it can't be utilized illicitly.

[passeroutpass]

Unfortunately, digital currencies are not regulated by anyone and therefore it is impossible to prevent the appearance and issue of coins that can be used by criminals.

[matej451]

Every currency is digital currency nowadays. There are digital currency that works on block chain technology and other currencies that uses old structure based on banks.

Regulation will come sooner or later. Till now crypto is spreading. In this stage government and banks still thinks that they rule the game but this will change soon and then all those institutions will try to gain something out of crypto so regulation will take in place at that stage.

[FallenBtcAngel]

Unfortunately, digital currencies are not regulated by anyone and therefore it is impossible to prevent the appearance and issue of coins that can be used by criminals.

Well, I tend to think that, the usage of coins by criminals isn't as big as it's declared. Moreover, it's used to manipulate people's mind and earn on it by lowering the price when needed.

[poletando]

the reason why bitcoin and 0ther digital currency is need to be regulated is to prevent the inflation and deflation in a country because the anonymousity government and other people can't see the economy transaction and anything else, so maybe bitcoin and other cryptocurrencies need to be regulated soon

[John.Verdon761232]

Regulation can have a double property, some people will begin with a great deal of confidence in the priptivates, while others will stop investing in them.

[romantic007]

I agree with you. People have been making the world economy better and better for centuries and any kind of unregulated money movement is a threat to what we have now.

[amaterasysky]

the reason why bitcoin and 0ther digital currency is need to be regulated is to prevent the inflation and deflation in a country because the anonymousity government and other people can't see the economy transaction and anything else, so maybe bitcoin and other cryptocurrencies need to be regulated soon

What kind of bitcoin would you like to see? After all, if you take the example of the financial system, in General, it is the same one way or another in the world. To country at the official level, recognized the cryptocurrency, it is necessary that all did the same, for this to be a collected group of countries, for the adoption of such solutions. At the current level of education of people and officials with the blockchain, a bright future can not yet be dreamed of.

[letecia012]

Digital currency should need to be regulated by the government to protect its citizen's investment no be manipulated by certain companiescor individuals and to minimize the impact of money laundering in digital currency. it is the government duty to impose regulation to make digital currency more effective and safe to use.

[equal2detask123]

My personal take would be that Bitcoin and crypto, do not need really a regulation, because this technology having worked and survive for a long period of time, and does not create any chaos in the digital business, so this digital money need not to be regulated unless the government will accept it as one of the national currency in the country so it will be regulated.

[msk19]

Supporters and participants of the black Internet are increasingly using Bitcoin. Currently, there are coins that provide great anonymity of the data.

[Rustandy]

It's only a matter of time before digital money or cryptocurrency is under government regulation. This is inevitable. This is very clear where we need international regulation and proper supervision, it is possible that digital digital money is used for illicit activities. The current government has actively prevented the use of digital money for the purpose of money laundering and terrorism financing. However, arrangements are still needed for the entity and more for activities, such as who does what, where they get a license and are supervised. Most digital money transactions have until now been run without regulation, especially since bitcoin first launched in 2009. However, the government and central bank are now starting to pay attention and warn investors of the potential for fraud.