Regulation: Can One Size Truly Fit All?

[aezotxmb]

I do not think it is possible to set uniform rules, because the situation is different in every country, but it is necessary to have some supervision on encryption.

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[Dudeperfect]

Bitcoin is based on blockchain technology which relies on the principle of decentralization. I believe that it truly represents the fundamental values of democracy and it doesn't make any sense for any centralised institution to oppose it just because it is not following their ideology. We must have a broader approach towards this new innovation because it is not something limited in financial or IT sector, it is going to play a key role in the entire economy on a global scale and narrow approach is not a solution in a long term.

[JohnHendry]

Being too lenient is indeed not good thing. This is a decentralized market and thus government is in fear that it might ignite to something illegal in the economy. Hence the government of some countries are so strict towards the market. But once the crypto market kick stats, the system will go easy on the people too.

[spiker777]

The simplest answer is no, but the more realistic answer is yes, confirm or be banned. The fact is, when it comes to regulations, most governments are not big on individualised laws with multiple clauses and if/but statements. They prefer general, blanket, choking clauses that completely stifle innovation in an attempt to make sure the law is a catch-all and future proofed against innovations. It is very unlikely we will see a one size fits all policy that promotes the innovation of blockchain.

[Aleshia696]

I think that there should not be any general regulations in this market of crypto currency but I am in favor of case specific regulation. The market of crypto currency is a decentralized market and any general regulation can affect the idea of decentralization but case specific regulation is needed for protecting the market from hacking and scam coins.

[beinformed]

At present, in most countries, upgraded encryption-related service providers will also be forced to comply with the rules that will be provided. All this is what will make the government to regulate to a great extent. And guess what, how? So give us piece, and we will give you

[Catch-22]

To each his own. Different cultures might prevent regulators from having a one-size-fits-all policy worldwide. Some may be more stringent than the others.

[palle11]

""one size fits all"" method of regulation, constructed with a nod for universality, or should locales adopt tailored, case specific regulation?

One pattern of regulation will definitely not fit in all circumstances or to every country. So each country will have to evolve there own regulation to better suit her environment, citizens and investors.

While there is a large variance in how locales has approached the issue of regulation, the hallmarks of traditional finance (KYC/AML) have started to emerge in all locales where the legitimate regulation of crypto is taking place.

My question is, is KYC/AML the regulation that is talked about or expected? I just think this is not strict enough to be regarded as regulation.

[WoopDeBoop]

Chinese think it like that so let's try