More Regulations For Cryptocurrency?

[Doterti]

In the recently concluded meeting of G20 summit for cryptocurrencies, they decided to wait some recommendations from other countries implementing the rules or regulations for the cryptocurrency exchanges. Regulations can't be avoided and many countries are planning to make their own regulation based on the recommendation. It will be implemented to protect users and investors from scams and illegal use of any cryptocurrency.

I agree for that because we need regulations for cryptocurrency so that we have a good security and protection from hackers and scammers in which we can give less cases and problems, so that it will be more safe and legitimate for those investors and miners in this industry of cryptocurrency.

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[fudster]

If they have to make regulations, they have to do it right now because if they are afraid of money laundering a lot of us had already done it and got away already. If Germany did it and Japan, how come these countries can't do it on their own fast as there are just days and weeks passed they are missing a lot of things already.

[ufaiz50]

Bitcoin is decentral and bitcoin itself has no team, so for regulation on bitcoin it is not possible, there is only regulation on users, of course users who want to use bitcoin in that country, as the Chinese state does, ie forbidding users to use bitcoin and even crypto exchanger in china also closed. For regulation with reasonable excuses is not bad because on the other hand the government is considering things that will happen later.

[waitforme]

Bitcoin taxation would be an excellent way to help countries make a significant tax from Crypto. But they must know who owns Bitcoin to tax them, or they will rule out taxation. The easiest way is to impose the exchanges that based in that country.

[musta5a]

Bitcoin is decentral and bitcoin itself has no team, so for regulation on bitcoin it is not possible, there is only regulation on users, of course users who want to use bitcoin in that country, as the Chinese state does, ie forbidding users to use bitcoin and even crypto exchanger in china also closed. For regulation with reasonable excuses is not bad because on the other hand the government is considering things that will happen later.

right, bitcoin is its users, so it's possible to regulate them in case they are willing to comply. Good thing is that it simply depends on each of us whether he will do it or no

[Btcnaivie]

Hello, would love to get your opinion on this topic. Do you think there would be more regulations regarding cryptocurrency by the Government? Both now and the future? Let’s say bitcoin price rises to $100,000 per bitcoin, Do you think the government would actually let it be and function on its own without constant regulations? Well, personally I think we would see more regulations from the government down the line to a 1 Trillion Dollars total market cap and above. But I’m positive such regulations won’t hamper on the further growth and advancement of cryptocurrency. So tell me, what do you think?

Definitely Yes I agree with you mate. Government should create standard regulation in bitcoin. Regulation that the people can benefits not the government. They should create rules and regulations that would help cryptocurrency used only in legal transactions.  In that way, cryptocurrency will grow more and more.

[BitcoinHodler]

Bitcoin taxation would be an excellent way to help countries make a significant tax from Crypto. But they must know who owns Bitcoin to tax them, or they will rule out taxation. The easiest way is to impose the exchanges that based in that country.

the government isn't just going to tax you for having something. otherwise you will have to pay them till the end of your time. what they do is that they tax you when you trade bitcoin and make profit on exchanges which happen to be centralized and have KYC implemented. that way they know you and also they take a part of your profit.

[wonderfulvn]

The electronic money market is not accessible to any third party or government.

[Cynthia Andradee]

Yes. I think so. More regulations are needed so that Bitcoin becomes safer to invest and Bitcoin can be properly used. And the trust of investors in Bitcoin will be enforced. Currently, due to the slack regulations of cryptomarket, frauds and crimes have chances to happen. So I think more regulations are necessary.

[newwest]

Bitcoin taxation would be an excellent way to help countries make a significant tax from Crypto. But they must know who owns Bitcoin to tax them, or they will rule out taxation. The easiest way is to impose the exchanges that based in that country.

Countries would only accept the crypto currency if they can get the good amount of tax form their citizens which will help the economy to grow and further strengthen their development plans. Else their is no point for them to just legalize it and with so many scam their investigation will take so much time and efforts and waste of money .

[Brenda Karenn]

I agree with you. Bitcoin is kind of brand new. So I think proper regulations are necessarry so that Bitcoin can be exploited to its fullest in this infancy stage. But it takes time. Many governments have still in the dark and clueless about what to do with Bitcoin.

[ggugoienpai]

I think the government will have more regulatory regulations. If it is not very strict supervision, then it will be good for community development.

[rudox]

I am thinking that more of the regulations and banning are coming in the near future. Government will not allow bitcoin to continue on its nature of being decentralized because they believe it is a tool for tax evasion and could be used to sponsor terror or drugs. The claim because bitcoin is highly anonymous so tracking who send or receive    what will be difficult and hence may encourage illicit transactions. So more regulations is still on the way.

[lamcouz]

We all wish that bitcoin will be available all over the world but some of the countries already banned bitcoin because of their economic growth. It will be a good news to us if the bitcoin will be legalized all over the world because the volume that who is buying bitcoin will increase more and bitcoin’s value will jump too.

[Susan Diass]

Laying legal grounds for Bitcoin is needed. Many investors want to put money into Bitcoin but get cold feet because of the fear that Bitcoin will be banned. If Bitcoin gets legitimized, the investors will feel more secure to invest in Bitcoin.

[Scott Freemann]

If they get Bitcoin under regulation, they may levy taxes on its transactions, and Bitcoin will seem less attractive compared to fiat money. However, regulations give Bitcoin clear legitimacy, so money scams involving Bitcoin will be solved more easily.

[Rebecca Bragaa]

Yeah, but first I think they should legitimize Bitcoin. I mean they need to determine whether Bitcoin is a an asset or anything else in their country, and then impose regulations for it.

[jaocoincrypto18]

Hello, would love to get your opinion on this topic. Do you think there would be more regulations regarding cryptocurrency by the Government? Both now and the future? Let’s say bitcoin price rises to $100,000 per bitcoin, Do you think the government would actually let it be and function on its own without constant regulations? Well, personally I think we would see more regulations from the government down the line to a 1 Trillion Dollars total market cap and above. But I’m positive such regulations won’t hamper on the further growth and advancement of cryptocurrency. So tell me, what do you think?

I see nothing wrong with the regulations specially now that scam projects are becoming rampant in the crypto space in which many people are become victim and now afraid to join crypto investments.The government should impose regulations specially if the Bitcoin price become more expensive to ensure that it will not be use in illegal activities such as money laundering and terrorist funding.

[CryptoGamblingSites]

Id the government implemented rules and regulations, they need to be sure that it is not just for there interest but also for the welfare of the users of bitcoin, and other coins or the crypto itself. Putting taxes will do but if they implemented something that concerns with the identity of users well it will definitely undergo in a debate. The regulations must only concern with the security the users will have.

I dont think that government will make regulations which wont try to get identity of users because they are implementing the rules and regulations in which their main criteria will be to show the identity of users. If you see last all ICO are asking KYC procedure, which means their is identity verification's of users who wanted to be in crypto world.

The funny part about your extremely accurate comment is that different governments are COMPETING behind closed doors for "regulating" it best. If one governments regulation is too strict (like India's), then people create a black market economy that leaves the banks in their country with less money.

If it's banned, people from other countries earn a LOT more for selling crypto to people in that country. So Rupee's for example, get traded for USD or BTC while India banks have to pretend the Rupee will stop dropping like it has been for two years.

[CryptoGamblingSites]

Hello, would love to get your opinion on this topic. Do you think there would be more regulations regarding cryptocurrency by the Government? Both now and the future? Let’s say bitcoin price rises to $100,000 per bitcoin, Do you think the government would actually let it be and function on its own without constant regulations? Well, personally I think we would see more regulations from the government down the line to a 1 Trillion Dollars total market cap and above. But I’m positive such regulations won’t hamper on the further growth and advancement of cryptocurrency. So tell me, what do you think?

I see nothing wrong with the regulations specially now that scam projects are becoming rampant in the crypto space in which many people are become victim and now afraid to join crypto investments.The government should impose regulations specially if the Bitcoin price become more expensive to ensure that it will not be use in illegal activities such as money laundering and terrorist funding.

There will be TWO markets for crypto regardless.... people that want to do illegal things will just use a "privacy" Altcoin or a bitcoin mixer, rather than Bitcoin. People who don't do illegal things will speculate on that altcoin because they it will increase in value as more people adopt the "unregulated" crypto.