Bitcoin Forum
January 22, 2019, 01:36:56 AM *
News: Latest Bitcoin Core release: 0.17.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Exchange Regulations - are we seeing negative effects?  (Read 86 times)
aoluain
Sr. Member
****
Offline Offline

Activity: 700
Merit: 282


★777Coin.com★ Fun BTC Casino!


View Profile
June 06, 2018, 08:42:06 PM
 #1

We have all experienced the new regulations which many exchanges are choosing
to implement in order to be legitimate in the eyes of whatever government jurisdiction
they are in and be seen to crack down on money laundering and reduce the anonymity
of users for example.

For me I see this as the only real regulation a government can issue to crypto currencies,
its an indirect regulation by targeting how people get in and get out of crypto.

Will we see and have we seen already a decline in trading as people shy away from using
the exchanges and newcomers not willing to divulge their personal information?  

Here are a couple of links for further reading >

https://www.coindesk.com/eu-parliament-votes-for-closer-regulation-of-cryptocurrencies/

https://www.ccn.com/japan-bolsters-regulatory-requirements-for-crypto-exchanges-to-prevent-another-coincheck/




1548121016
Hero Member
*
Offline Offline

Posts: 1548121016

View Profile Personal Message (Offline)

Ignore
1548121016
Reply with quote  #2

1548121016
Report to moderator
1548121016
Hero Member
*
Offline Offline

Posts: 1548121016

View Profile Personal Message (Offline)

Ignore
1548121016
Reply with quote  #2

1548121016
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1548121016
Hero Member
*
Offline Offline

Posts: 1548121016

View Profile Personal Message (Offline)

Ignore
1548121016
Reply with quote  #2

1548121016
Report to moderator
1548121016
Hero Member
*
Offline Offline

Posts: 1548121016

View Profile Personal Message (Offline)

Ignore
1548121016
Reply with quote  #2

1548121016
Report to moderator
carlfebz2
Hero Member
*****
Offline Offline

Activity: 1008
Merit: 517


★Bitvest.io★ Play Plinko or Invest!


View Profile
June 06, 2018, 08:55:00 PM
 #2

~snip~

Not a new thing and soon we would see that most exchangers would definitely follow up this kind of protocol where they do need to follow up on what government would require them.If they wont then they do know on what would happen to their business which would really be stopped since it wont able to follow up on what government do said.Non a surprising thing for them to have the reason to cracked down money laundering but behind it,its quite obvious that they are aiming for crypto users too which do have large funds in crypto.



.
.BITVEST DICE.
HAS BEEN RELEASED!


▄████████████████████▄
██████████████████████
██████████▀▀██████████
█████████░░░░█████████
██████████▄▄██████████
███████▀▀████▀▀███████
██████░░░░██░░░░██████
███████▄▄████▄▄███████
████▀▀████▀▀████▀▀████
███░░░░██░░░░██░░░░███
████▄▄████▄▄████▄▄████
██████████████████████

▀████████████████████▀
▄████████████████████▄
██████████████████████
█████▀▀█▀▀▀▀▀▀██▀▀████
█████░░░░░░░░░░░░░████
█████░░░░░░░░░░░░▄████
█████░░▄███▄░░░░██████
█████▄▄███▀░░░░▄██████
█████████░░░░░░███████
████████░░░░░░░███████
███████░░░░░░░░███████
███████▄▄▄▄▄▄▄▄███████

██████████████████████
▀████████████████████▀
▄████████████████████▄
███████████████▀▀▀▀▀▀▀
███████████▀▀▄▄█░░░░░█
█████████▀░░█████░░░░█
███████▀░░░░░████▀░░░▀
██████░░░░░░░░▀▄▄█████
█████░▄░░░░░▄██████▀▀█
████░████▄░███████░░░░
███░█████░█████████░░█
███░░░▀█░██████████░░█
███░░░░░░████▀▀██▀░░░░
███░░░░░░███░░░░░░░░░░

██░▄▄▄▄░████▄▄██▄░░░░
████████████▀▀▀▀▀▀▀██
█████████████░█▀▀▀█░███
██████████▀▀░█▀░░░▀█░▀▀
███████▀░▄▄█░█░░░░░█░█▄
████▀░▄▄████░▀█░░░█▀░██
███░▄████▀▀░▄░▀█░█▀░▄░▀
█▀░███▀▀▀░░███░▀█▀░███░
▀░███▀░░░░░████▄░▄████░
░███▀░░░░░░░█████████░░
░███░░░░░░░░░███████░░░
███▀░██░░░░░░▀░▄▄▄░▀░░░
███░██████▄▄░▄█████▄░▄▄

██░████████░███████░█
▄████████████████████▄
████████▀▀░░░▀▀███████
███▀▀░░░░░▄▄▄░░░░▀▀▀██
██░▀▀▄▄░░░▀▀▀░░░▄▄▀▀██
██░▄▄░░▀▀▄▄░▄▄▀▀░░░░██
██░▀▀░░░░░░█░░░░░██░██
██░░░▄▄░░░░█░██░░░░░██
██░░░▀▀░░░░█░░░░░░░░██
██░░░░░▄▄░░█░░░░░██░██
██▄░░░░▀▀░░█░██░░░░░██
█████▄▄░░░░█░░░░▄▄████
█████████▄▄█▄▄████████

▀████████████████████▀




Rainbot
Daily Quests
Faucet
buwaytress
Hero Member
*****
Offline Offline

Activity: 868
Merit: 782


I bit, therefore I am


View Profile
June 07, 2018, 05:37:54 AM
 #3

No we won't. On the contrary, these implementations of regulations should actually see an uptick in people buying their first cryptocurrencies (as opposed to earning, mining or receiving them as payment). Think about it: many of the largest and fastest growing exchanges are regulated, and when they find trouble getting licenses like Binance did, they simply move to a jurisdiction that grants them that legitimacy. US and Japan didn't work out, so Binance finally moved to Malta.

Think about why people ignored or stayed away from Bitcoin for so long: because it wasn't regulated. It STILL isn't now, but people are under the illussion or misconception that it is, by proxy of exchanges.

magneto
Hero Member
*****
Offline Offline

Activity: 882
Merit: 578


View Profile
June 07, 2018, 07:08:58 AM
 #4

If it's merely exchanges requiring basic personal info, and an ID, then I don't think that there are any negative effects from that. Sure, it may mean that these regulated exchanges will attract less new users, but the fact of the matter is that new users rarely use these major exchange anyways, because they are looking for the quickest and most convenient trade possible.

What concerns me is really overly draconian KYC measures, such as when an exchange asks you to provide every single detail of a deposit that you make, and especially these measures being placed on exchanges that were previously used for their anonymity. For example, LBC has tightened up their verification scheme due to EU regulation. Right now, it's not restricting newbies from trading anonymously yet, since verification is only required at significant volumes, but if in the future it changes so that even small time traders need verification, then it can negatively impact bitcoin trading for sure.

We can't stop the process of regulation, and there are defintiely positives as well. But these are the things that I think are cause for concern.

rickadone
Legendary
*
Offline Offline

Activity: 1176
Merit: 1022



View Profile
June 07, 2018, 02:54:32 PM
 #5

I think that there are legitimate pros and cons to the regulations that are being added to crypto. It's going to take some getting used to, but I don't think it's going to lessen the amount of traders. It's also a possibility that new traders might come in if they see that these exchanges are actually working to prevent scammers and money laundering.
What is even there that it takes time in getting used to ? Not like we have not been doing things before that does not require proper verification of identity outside cryptocurrency online. I just wonder why a lot of people see that as a problem and make a lot of fuss about it.

Regulation will help us grow and it does not simply change anything at all, as P2P transactions, decentralization is still in play and the only thing that is being controlled would be the exchanges which I believe will be used to monitor any strange movement of funds, most especially from fiat to cryptocurrency and I guess only those who are culprit in that category will have a problem.
TianaStam
Member
**
Offline Offline

Activity: 231
Merit: 11


View Profile
June 07, 2018, 06:18:29 PM
 #6

This is kinda the deal exchangers should to follow to stay welcome to the government. I really do not understand what is  the need in all of that, do they try to fight against of criminal and terrorism by that? Or there are other reasons, explain me somebody is you have any ideas about that. My own I do not care about that, I do not have things to hide.

TRADE, EARN & OWN THE EXCHANGE           M o o n X           [    ●    JOIN ICO   -   S O O N    ●    ]
──────────     WHITEPAPER     FACEBOOK     TWITTER     LINKEDIN     TELEGRAM     CRUNCHBASE     ──────────
►   No Trading or ICO Listing Fees      ►   Superior to Nasdaq & LSE       ►   US$ 29M Raised in 2 Weeks!
LeGaulois
Copper Member
Hero Member
*****
Offline Offline

Activity: 952
Merit: 942

Bitcoin Ninja Unregulated Banker Unbanking Folks


View Profile
June 07, 2018, 07:19:39 PM
 #7

Most of the regulars traders will have no problem with regulations, they are among the people asking for. The average Joe doesn't care about his privacy and so no problem to give out personal information. The people finding it annoying will simply start to use DEX.
So, I don't think the trading volume will decrease or we will get negative effects

timerland
Hero Member
*****
Offline Offline

Activity: 1008
Merit: 547


View Profile
June 07, 2018, 09:00:56 PM
 #8

It really depends on what regulations we are seeing.

If it's requiring exchanges to ask for identification for traders with large amounts of trading volume, then I doubt that it's going to have any negative impacts. It shouldn't have any impact on the market, as we see that newbies trading on localbitcoins is still able to buy/sell reasonable amounts of coin without verification.

However, if it becomes over-strict, to the point that you are requested to give every single personal detail, then yeah. We could potentially see people that really care about anonymity shying away from bitcoin trading. But big traders are probably verified anyways, and small traders can use a p2p trading platform still. The only form of regulation that would truly negatively impact the market would be an RBI style crackdown on bitcoin and its businesses, but that is more of a 'ban' than regulation.

supermine
Hero Member
*****
Offline Offline

Activity: 826
Merit: 518


★Bitvest.io★ Play Plinko or Invest!


View Profile
June 07, 2018, 09:02:30 PM
 #9

Most of the regulars traders will have no problem with regulations, they are among the people asking for. The average Joe doesn't care about his privacy and so no problem to give out personal information. The people finding it annoying will simply start to use DEX.
So, I don't think the trading volume will decrease or we will get negative effects
But I read that many people are concerned about the regulation but I don't have any issues in providing my personal details to the exchanges because I am not doing anything illegal and I will always pay my taxes so nothing problem for me so the traders who are doing everything in the legal way will never have issues with this.

But there are some traders who are doing in a huge volume may get affected so which taxes effect in the prices too,but as far as I know very few exchanges are asking these kid of personal details so there is no problem for now. Smiley



.
.BITVEST DICE.
HAS BEEN RELEASED!


▄████████████████████▄
██████████████████████
██████████▀▀██████████
█████████░░░░█████████
██████████▄▄██████████
███████▀▀████▀▀███████
██████░░░░██░░░░██████
███████▄▄████▄▄███████
████▀▀████▀▀████▀▀████
███░░░░██░░░░██░░░░███
████▄▄████▄▄████▄▄████
██████████████████████

▀████████████████████▀
▄████████████████████▄
██████████████████████
█████▀▀█▀▀▀▀▀▀██▀▀████
█████░░░░░░░░░░░░░████
█████░░░░░░░░░░░░▄████
█████░░▄███▄░░░░██████
█████▄▄███▀░░░░▄██████
█████████░░░░░░███████
████████░░░░░░░███████
███████░░░░░░░░███████
███████▄▄▄▄▄▄▄▄███████

██████████████████████
▀████████████████████▀
▄████████████████████▄
███████████████▀▀▀▀▀▀▀
███████████▀▀▄▄█░░░░░█
█████████▀░░█████░░░░█
███████▀░░░░░████▀░░░▀
██████░░░░░░░░▀▄▄█████
█████░▄░░░░░▄██████▀▀█
████░████▄░███████░░░░
███░█████░█████████░░█
███░░░▀█░██████████░░█
███░░░░░░████▀▀██▀░░░░
███░░░░░░███░░░░░░░░░░

██░▄▄▄▄░████▄▄██▄░░░░
████████████▀▀▀▀▀▀▀██
█████████████░█▀▀▀█░███
██████████▀▀░█▀░░░▀█░▀▀
███████▀░▄▄█░█░░░░░█░█▄
████▀░▄▄████░▀█░░░█▀░██
███░▄████▀▀░▄░▀█░█▀░▄░▀
█▀░███▀▀▀░░███░▀█▀░███░
▀░███▀░░░░░████▄░▄████░
░███▀░░░░░░░█████████░░
░███░░░░░░░░░███████░░░
███▀░██░░░░░░▀░▄▄▄░▀░░░
███░██████▄▄░▄█████▄░▄▄

██░████████░███████░█
▄████████████████████▄
████████▀▀░░░▀▀███████
███▀▀░░░░░▄▄▄░░░░▀▀▀██
██░▀▀▄▄░░░▀▀▀░░░▄▄▀▀██
██░▄▄░░▀▀▄▄░▄▄▀▀░░░░██
██░▀▀░░░░░░█░░░░░██░██
██░░░▄▄░░░░█░██░░░░░██
██░░░▀▀░░░░█░░░░░░░░██
██░░░░░▄▄░░█░░░░░██░██
██▄░░░░▀▀░░█░██░░░░░██
█████▄▄░░░░█░░░░▄▄████
█████████▄▄█▄▄████████

▀████████████████████▀




Rainbot
Daily Quests
Faucet
el kaka22
Legendary
*
Offline Offline

Activity: 1582
Merit: 1041


Crypto-Games.net: Multiple coins, multiple games


View Profile
June 08, 2018, 06:21:19 AM
 #10

~snip~

Not a new thing and soon we would see that most exchangers would definitely follow up this kind of protocol where they do need to follow up on what government would require them.If they wont then they do know on what would happen to their business which would really be stopped since it wont able to follow up on what government do said.Non a surprising thing for them to have the reason to cracked down money laundering but behind it,its quite obvious that they are aiming for crypto users too which do have large funds in crypto.
We cannot apparently expect the government to keep quiet while everyone just keep getting busy doing whatever they like all in the name of decentralization without at least some form of regulation which mostly affects the exchanges and to me is a good thing to see this happen as this would bring more maturity to the space, help with growth as we see smart moneys kicking in and that is really what matters, growth! Whoever does have a problem with that is not ready to be an investor in the general sense.


▄▄▄████████▄▄▄
▄██████████████████▄
▄██████████████████████▄
██████████████████████████
████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
████████████████████████████
██████████████████████████
▀██████████████████████▀
▀██████████████████▀
▀▀▀████████▀▀▀
   ███████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
███████
BTC  ◉PLAY  ◉XMR  ◉DOGE  ◉BCH  ◉STRAT  ◉ETH  ◉GAS  ◉LTC  ◉DASH  ◉PPC
     ▄▄██████████████▄▄
  ▄██████████████████████▄        █████
▄██████████████████████████▄      █████
████ ▄▄▄▄▄ ▄▄▄▄▄▄ ▄▄▄▄▄ ████     ▄██▀
████ █████ ██████ █████ ████    ▄██▀
████ █████ ██████ █████ ████    ██▀
████ █████ ██████ █████ ████    ██
████ ▀▀▀▀▀ ▀▀▀▀▀▀ ▀▀▀▀▀ ████ ▄██████▄
████████████████████████████ ████████
███████▀            ▀███████ ▀██████▀
█████▀                ▀█████
▀██████████████████████████▀
  ▀▀████████████████████▀▀ 
✔️DICE           
✔️BLACKJACK
✔️PLINKO
✔️VIDEO POKER
✔️ROULETTE     
✔️LOTTO
darewaller
Hero Member
*****
Offline Offline

Activity: 1148
Merit: 519


★Magnum Wallet★


View Profile
June 12, 2018, 07:56:40 PM
 #11

No we won't. On the contrary, these implementations of regulations should actually see an uptick in people buying their first cryptocurrencies (as opposed to earning, mining or receiving them as payment). Think about it: many of the largest and fastest growing exchanges are regulated, and when they find trouble getting licenses like Binance did, they simply move to a jurisdiction that grants them that legitimacy. US and Japan didn't work out, so Binance finally moved to Malta.

Think about why people ignored or stayed away from Bitcoin for so long: because it wasn't regulated. It STILL isn't now, but people are under the illussion or misconception that it is, by proxy of exchanges.
My mind even started getting to rest with regulation. Come to think of it, since this whole regulation thing, sanity is gradually kicking into the market, level of scam is gradually reducing even among ICOs, exchanges are coming up with some pretty good policies that just would not affect the market and so on.

The thing with a non-regulated market is that humans will use their own hands to destroy everything before it even starts. Take a look at the way things were already getting out of hand and everyone doing whatever they like. Maturity brings in growth and more growth makes everyone happy.

           ▄█▀▀█▄
          █▀▄▀▀▄▀█
         ▄█▄▀▄▄█▄
  ▄▄▄▄  ██▀▀█▄▄  ▀█▄▄ ▄▄▄▄
▄█▀▄▄ ▄▀           ▀██▀▄▄▀█▄
█ █  █ ▄     ▄▄     █ █  █
▀█▄▀▀▄█▀    ████    ▀▄ █▀▄█▀
  ▀▀██▌      ▐▌       █▀
     ▀█      ██     ▄█▌
     ▄▐▌▀█▄      ▄█▀▀█▄
    █ ▄▀▀▄▀█▄▄▄▄▄▄▄▀▀▄▀█
    █▄▀▄▄▀▄█▀▀▀▀  ▀▄▄▀▄█
     ▀█▄▄█▀      ▀█▄▄█▀
       █           ▄
      ▀█▀         ▄█▄
       ▀
▄███▄▄    █
 ▄
     ▄████████▄▄
▄█▄   █████████████▄
 █
   ███████████████▄
     ████████████████▄
     █████████████████
     █████████████████
     ▐
█████████████████
      ▀██
█████████████▀
        ▀███████████▀
          ▀▀█████▀▀
| ANN     | TELEGRAM     | DISCORD     | REDDIT     | TWITTER
[ CREATE WALLET ]
carlfebz2
Hero Member
*****
Offline Offline

Activity: 1008
Merit: 517


★Bitvest.io★ Play Plinko or Invest!


View Profile
June 12, 2018, 08:22:03 PM
 #12

~snip~

Not a new thing and soon we would see that most exchangers would definitely follow up this kind of protocol where they do need to follow up on what government would require them.If they wont then they do know on what would happen to their business which would really be stopped since it wont able to follow up on what government do said.Non a surprising thing for them to have the reason to cracked down money laundering but behind it,its quite obvious that they are aiming for crypto users too which do have large funds in crypto.
We cannot apparently expect the government to keep quiet while everyone just keep getting busy doing whatever they like all in the name of decentralization without at least some form of regulation which mostly affects the exchanges and to me is a good thing to see this happen as this would bring more maturity to the space, help with growth as we see smart moneys kicking in and that is really what matters, growth! Whoever does have a problem with that is not ready to be an investor in the general sense.
You do have the point which is actually right government cant really just take a look on whats is happening on cryptospace which they would normally make involvement if they do saw it would be necessary.Some would see this as an important thing and some wont really prefer such thing due to personal preference which they do like with crypto specially on exchange matters. The positive impact on these regulations that it can really reduce fraud but anonymity would suffice.



.
.BITVEST DICE.
HAS BEEN RELEASED!


▄████████████████████▄
██████████████████████
██████████▀▀██████████
█████████░░░░█████████
██████████▄▄██████████
███████▀▀████▀▀███████
██████░░░░██░░░░██████
███████▄▄████▄▄███████
████▀▀████▀▀████▀▀████
███░░░░██░░░░██░░░░███
████▄▄████▄▄████▄▄████
██████████████████████

▀████████████████████▀
▄████████████████████▄
██████████████████████
█████▀▀█▀▀▀▀▀▀██▀▀████
█████░░░░░░░░░░░░░████
█████░░░░░░░░░░░░▄████
█████░░▄███▄░░░░██████
█████▄▄███▀░░░░▄██████
█████████░░░░░░███████
████████░░░░░░░███████
███████░░░░░░░░███████
███████▄▄▄▄▄▄▄▄███████

██████████████████████
▀████████████████████▀
▄████████████████████▄
███████████████▀▀▀▀▀▀▀
███████████▀▀▄▄█░░░░░█
█████████▀░░█████░░░░█
███████▀░░░░░████▀░░░▀
██████░░░░░░░░▀▄▄█████
█████░▄░░░░░▄██████▀▀█
████░████▄░███████░░░░
███░█████░█████████░░█
███░░░▀█░██████████░░█
███░░░░░░████▀▀██▀░░░░
███░░░░░░███░░░░░░░░░░

██░▄▄▄▄░████▄▄██▄░░░░
████████████▀▀▀▀▀▀▀██
█████████████░█▀▀▀█░███
██████████▀▀░█▀░░░▀█░▀▀
███████▀░▄▄█░█░░░░░█░█▄
████▀░▄▄████░▀█░░░█▀░██
███░▄████▀▀░▄░▀█░█▀░▄░▀
█▀░███▀▀▀░░███░▀█▀░███░
▀░███▀░░░░░████▄░▄████░
░███▀░░░░░░░█████████░░
░███░░░░░░░░░███████░░░
███▀░██░░░░░░▀░▄▄▄░▀░░░
███░██████▄▄░▄█████▄░▄▄

██░████████░███████░█
▄████████████████████▄
████████▀▀░░░▀▀███████
███▀▀░░░░░▄▄▄░░░░▀▀▀██
██░▀▀▄▄░░░▀▀▀░░░▄▄▀▀██
██░▄▄░░▀▀▄▄░▄▄▀▀░░░░██
██░▀▀░░░░░░█░░░░░██░██
██░░░▄▄░░░░█░██░░░░░██
██░░░▀▀░░░░█░░░░░░░░██
██░░░░░▄▄░░█░░░░░██░██
██▄░░░░▀▀░░█░██░░░░░██
█████▄▄░░░░█░░░░▄▄████
█████████▄▄█▄▄████████

▀████████████████████▀




Rainbot
Daily Quests
Faucet
gentlemand
Legendary
*
Online Online

Activity: 1890
Merit: 1489


Always remember - I love you


View Profile
June 12, 2018, 08:34:07 PM
 #13

I'd say only a small minority care about handing over their info. Most people don't care in the slightest. It is however an extra obstacle that'll mean many a buyer falls away just as many online sales fail when people can't be arsed to fill in their details.

Soon enough it'll be totally ubiquitous so you'll have to do it if you want a taste.

It's necessary for markets to reach the next level and far less catastrophic than exchanges ignoring this completely and then suddenly getting walloped.

pugman
Legendary
*
Offline Offline

Activity: 1358
Merit: 1329


Sliding in ya DM's be like


View Profile WWW
June 12, 2018, 11:53:46 PM
 #14

There are a few things to consider when it comes to regulations:

- If people use huge amounts of crypto, they already have provided their KYC for more withdrawals.

- No one can entirely regulate bitcoin, there are mixers and other ways to deal with that.

- Not every one knows how to be anonymous, especially when they use passwords like '12347890' or lame ass passwords like that. If people can't secure their passwords, how do you expect them to be anonymous. 

- People mistake privacy to be equal to hiding something(look at this post). If you want to be private, that means you do illegal stuff and sell weed for a living.

- If people want to be anonymous, they can use decentralized exchanges, they are not a thing yet, but let the regulation impact kick in, they would be better than binance.

- Regulation was always expected. Did anyone seriously expect exchanges like bittrex and poloniex, the top exchanges at one time to keep their users trading without any "regulative measures"?

- One can have two options, atleast at the moment: Either they follow up on the regulations or be anonymous by using mixers, TOR, decentralized services. The latter is not easy to do/maintain but is possible. One has to be smart on a whole new level to be anonymous. For average people, the former is better. You people also have lives, being anonymous won't be your thing because you'd be doing it wrong.

Pages: [1]
  Print  
 
Jump to:  

Bitcointalk.org is not available or authorized for sale. Do not believe any fake listings.
Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!