Why do we need to regulate digital money

[jyotianand01]

We don't need regulations but many governments want regulation on this market so that they can track the transactions and can take action if any illegal transactions have done. Regulations are better for markets in the long run as that create more confidence in that market which is regulated.

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[#davidnugroho]

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.

this is good news if bitcoin gets better with new rules and I really agree with that

[Denigmatic]

The rules of cryptography are aimed at preventing or stopping any virtual currency, especially bitcoin, which is used in illegal actions by some lawless elements. The use of universal regulation is inevitable, since in the near future more and more countries intend to impose financial assistance on it.

[Jennycrypto]

cryptocurrency needs a high degree of regulations to comb out scam projects. What is happening now is so outrageous.  Too many scam projects. regulations needs to be instilled.  This will stop the manipulations too

[buy_crypt_sell]

Crypto currency, like a simple currency, undoubtedly needs to be regulated. Natural market will not be able simply to exist. Therefore, regulation is necessary.

[Froy]

This is the same economy in the country, all the money that revolves in the world, you need to settle, because without doing this, house will happen, and money may be in vain not enough.

[namcunguyen]

Due to decentralized nature and lack of power structure inherent in cryptocurrency world, many view regulations as a tactic that can cause explosive price growth and reduced volatility this industry.

[Polkadott]

regulating digital money and its assets requires regulation, because with the regulation it will provide security for crypto currency holders and will punish hackers

[CatchSomeAirdrops1]

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?

Digital currency is fairly new to the public and it definitely needs some rules to hold it in place and for it to be a norm.  In the event that the administration won't control digital money, it can be an apparatus some time or another to make a war and will result to a contention in our general public.

[royalcrypt]

I would like to add one more thing which is market manipulation. That's also one of the big reasons we need regulations. Regulations on cryptocurrency could be a game changer because that way we might see mass adoption very soon.

[Cruzz1999]

'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

[SIDDHI777]

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 agree with you and what you have mentioned is correct but the main question should be not "why do we need to regulate digital money" but "How we should regulate digital money" because majority of token holders wants to see digital currencies getting regulate but the difficult part is to make it happen   

[jakezyrus]

for me , i dont agree with it because i heard that when digital money is regulated their value can become stable and being stable means they cannot pumped hard and that simply means we cannot expect to earn huge income in the future but theres still a benefit left because we can now hodl our coins confidently without having to worry about consistent fluctuations .  though i think , cryptos will loose some volume because investors wont find it a good investment anymore .

cryptos will only become a mainstream currency rather than being an asset .

[Ethan Argu]

For me, its helpful in some point by using in transaction, pay your bills etc. It makes life easier and convenient for anybody, not only in the business industry. You can use it also in earning money invest in a goodway. Theres a lot of things that you can use. But not at all we can regulate bitcoin by in only good purpose.

[rj.raj]

Usage of cryptocurrencies, despite recent growth in interest, is still quite narrow, so now it can cope without regulations to more or less extent. But 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. The aim of regulation is to set working relationship with cryptocurrencies, and nothing more.

[syntac]

maybe to do that requires special courage, because the impact is very risky, it can be a war between countries to fight for power to own the full bitcoin share. Hopefully this will not happen in the near future or long, hopefully it is safe.

[twa]

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.

I strongly agree with what you convey the good and bad of cryptocurrencies all that depends on the intentions and goals of the investors themselves in fact and requires supervision and monitoring with everything

[Trustor]

We do not need to regulate digital money -the cryptocurrencies. The entire idea of cryptocurrencies is that they have no centralized rules or regulations and are not controlled by anyone nor is their demand and supply. The market, their competitive demand and prices determine everything about them and it should remain the same way otherwise they will loose their essence.

[Evacarter]

In fact, in essence, converting from digital money into legal money is a civil transaction between entities, similar to the sale of assets and goods. In many countries, such transactions are not recognized or protected. Therefore, it is necessary to adjust as reasonably as possible.

[bitbunnny]

We do not need to regulate digital money -the cryptocurrencies. The entire idea of cryptocurrencies is that they have no centralized rules or regulations and are not controlled by anyone nor is their demand and supply. The market, their competitive demand and prices determine everything about them and it should remain the same way otherwise they will loose their essence.

On one hand people want cryptocurrencies to be equal and fully implemented and recgonized like fiat money but on the other they don't want regulation. These are two opposite things, they can't go one without the other.
For cryptocurrencies to be implemented in economy and to be fully legal and free to use in every segment of our lives they need some kind legal framework and people and businesses who are using them should be legaly protected. That is why regulation is necessary.