Brazil in the process of regulation. Good or bad?

[Oceat]

I also think regulation is good, but I don’t trust politicians so much, however. They sometimes make regulations that kill the business. The only thing they have to make sure is that deals are respected and not put too high taxes.

I agree with you while most of the politicians are playing everything by the money. I hope he is just doing this for the benefit of his people and not by his own benefit and i do agree that regulations are good in every aspect as long as it is highly debated for a vote before anyone could agree to their terms.

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[pitiflin]

Dude its Brazil....
I am surprised they are regulating cryptos while they have much important things to do like protecting their country's people from mob-rule,drug-trafficking and illegal weapon smuggling etc. Anyhow doesn't matter,regulation would help Brazil a little atleast.

[Rossy Akbar]

I mean all kinda regulation of bitcoin always good for me, but there is just one thing we need to know which is the rules. To make kinda regulation of course there will be so many rules,  does it good or even bad for bitcoiners. I think it's getting more the country who was legalize bitcoin as soon as possible it will be great future for bitcoin.

[entrepmind23]

Exclusive interview with President Fernando Furlan of the Brazilian Association of Cryptomoedas and Blockchain. Brazil in the process of regulation. Good or bad? https://www.criptomoedasfacil.com/entrevista-exclusiva-com-presidente-fernando-furlan-da-associacao-brasileira-de-criptomoedas-e-blockchain/

Whether we like it or not, I agree with crypto industry being regulated because there are things that we cannot do for our protection because it is unregulated. We cannot just hold someone accountable in case he does something like run away with our money by participating in ICOs because they are anonymous. We may know their names through their whitepaper or website but how can we know if those people are the real people behind.

If it is regulated then the team behind those ICOs would be known since they are required to register and show their supporting documents. We may not like it because the government is in control again but what can we do? It would be better being regulated than being totally banned which would hinder the adoption of cryptocurrency.

[Escf4]

The circulation of bitcoin and cryptocurrency in Brazil is nearly be recognized by the brazilian government, but there are provision in the legality of bitcoin and cryptocurrency , so for bitcoin to be continued the implementation of transaction and payments, it should comply the needed requirement the government wants.It is good for the cryptocurrency and bitcoin.

[Indrawan77]

There are some good sides when crypto being regulated, if the government give a clear regulation then people can invest in crypto with ease and it will increase the crypto transaction volume, which will be good for crypto, for now we got no choice but to accept the regulation because it is better to be regulated rather than being banned

[Notcalculator]

It is good from the perspective that it means cryptocurrency is generating enough attention and investment to warrant the government paying attention to it. It will likely "regulate" it and set "standards" for it, which for some people will provide more of a reason to trust it and make it even more popular.

The downside is that the regulation and government authority will make cryptocurrencies dependent on government to some extent, which is antithetical to the principles that Bitcoin and many cryptocurrencies were founded upon. The more this authority over cryptocurrencies evolves, some day cryptocurrencies may build government back doors right into the architecture. You might say that you will only use open-source cryptocurrencies and you will know when they do this, but if the public is okay with the government regulating and dominating cryptocurrencies, they can push closed source cryptos with nary a peep.

I agree! But it doesnt always have to be dependent to them. They could indirectly regulate bitcoin by regulating exchanges, business and miners that operate within their jurisdiction. They dont necessarilly need to touch the software. For me those regulations are fair because they obviously need to tax businesses and they obviously need to stop money launderers. And those are impossible to do without the proper regulations.

[PatronRH]

Maybe it is a good thing because if the government regulates it. It will make it legal. And thus more people will buy it and more people will gain from it.

[Leyss]

Exclusive interview with President Fernando Furlan of the Brazilian Association of Cryptomoedas and Blockchain. Brazil in the process of regulation. Good or bad? https://www.criptomoedasfacil.com/entrevista-exclusiva-com-presidente-fernando-furlan-da-associacao-brasileira-de-criptomoedas-e-blockchain/

This year, most states will be forced to consider the issue of circulation of crypto currency in the country, while determining its status and, if desired, setting a tax on profits from activities with it. The Crypto-currency can not exist by itself outside the territory of the states, which means sooner or later it must undergo regulation so that the state takes it under the protection of its state bodies, including judicial ones. Therefore, what will happen in Brazil is a normal and usual process of developing and developing the crypto currency.

[enhu]

Of course its good, we have been waiting for what could be the result of discussions about regulations which when decided could affect the market.  The G20 already have decided about what bitcoin and other cryptocurrencies are and if regulations are going to be a wait for holders and traders and ICO regulations are ways to make these investments legal so be it. If Brazil can start all these I guess the rest will follow.

[EdenHazard]

I did not expect the main idea of the article, the limitations of my language that haven't been able to understand the article. It would be great if the article is in English.

But for a regulation where the government receives cryptocurrency, it will be an interesting subject and good news for the cryptocurrency. There are still many countries that refuse to use cryptocurrency. But by accepting Brazil against cryptocurrency will be a new trend for countries that previously banned and re-regulated to accept cryptocurrency.

[jatin729]

When you are talking about Brazil that means you are talking about 5 nations which are under in BRICs .
If Brazil legalize crypto asset inside the countries then other BRICs nation will also think about to legal crypto inside.
Brazil, Russia, India, China and south Africa, these are the 5 countries which comes under BRICs nations.

[aoihs00]

Regulations in the cryptocurrency? Hm, that sounds like diminishing the purpose of the decentralized currencies from the core of its principle and thus creating another bunch of fiat world.

Regulation is all right until the taxation and tracing of investment but they wont be worthy if they are going to disturb the way this world works.

There are always two sides of that and the fate depends on the core functioning. If by law they touch it then they are fiddling with it and its bad for it.

[KorakPawon]

The phenomenon of electronic money is causing some legal problems, the unclear status of Bitcoin causes unclear legal consequences arising from Bitcoin phenomenon. Including in Brazil who is now questioning about bitcoin.

[hummer113]

Brazil, until now, looked like a very attractive place in the world of cryptocurrencies, I think you need to wait and see what happens in the end with the government.

[nazaididuan1]

Brazil's slums are the world's crime-ridden world!

Many drug dealers may already be trading in digital encrypted currency!

Effective regulation can fight crime! I think it's a good thing!

[green_fish]

In the long run, digital encryption is a good thing!

In the short term it will affect market stability!

Regulation means the legality of the digital cryptocurrency, which helps the development of digital cryptography in Brazil!

[supermine]

Regulation is actually a good thing for bitcoin but if the implement too much of tax for bitcoin then it will affect the investors and it can't be usable in regular basis.But it will overcome the fear of banning it will leads to more investors so if they have appropriate regulation both benefit for user and the country then it is good.

[bitkanu]

Regulation is actually a good thing for bitcoin but if the implement too much of tax for bitcoin then it will affect the investors and it can't be usable in regular basis.But it will overcome the fear of banning it will leads to more investors so if they have appropriate regulation both benefit for user and the country then it is good.

The regulation sometimes making bitcoin useless, it's like the point of using blockchain system is to make everything decentralized, but the government want it to be centralized so that they can control over it and finally do whatever they want, to do that, they need to make a really tight regulation in regard to limit what people inside that region can do when using bitcoin, therefore regulation is not always good, sometimes it  have bad effect aswell.

[dado7]

Good, regulation is always good. It improves the security and encourages institutional investors.

And bad regulation is bad

If the outcome of the regulation is fine, meaning that cryptocurrencies are accepted and possibly taxed, it's fine, acceptable. If they start issuing paid licenses to businesses or even worse, limit the access to cryptocurrencies or even ban them, it's going to be bad regulation.
It would be great if they could stay away and let the market regulate itself.

Well, yes of course . What I meant is that the process of making regulations is a good thing. I am tired sick of FUD over regulations.
I haven't seen a latter example yet.