Government regulation on cryptocurrency, GOOD or BAD?

[blackbold]

i think this regulation is good, but government. all of this regulation can reduce the risk of using crypto such as money laundering and terrorism. but the government must also established organizations / institutions responsible for use and crime of crypto

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[patarfweefwee]

Well it is always good that a country will regulate crypro currency. For one thing, they could weed out people who will use crypto currency for crimes and such. It will also weed out people who isn't fair when investing like price manipulations and such. these people give crypto currency a bad rap and is preventing other investors to jump in.

[Dodongbtc111]

Regulation can bring chaos in old investors side. Many investors choose cryptocurrency because of its decentralized platform but if it will happen that I will go on to be regulated then many investors will surely pull out their crypto assets.

[prokerduit]

I came to a realization that government had stepped in already in some countries who are accepted and acknowledge cryptocurrency existence. In fact they made a regulations that has made some negative and positve reactions over the implementation of cryptocurrency regulations like doing KYC (Knoy Your Client) on local exchanges, Registering ICO projects to the government agency concerns and etc which purpose is to prevent illegal or abuse in the use of cryptocurrency from money laundering, funding terrorist groups and etc. Well can you say about this regulations, GOOD or BAD?

in my opinion it's good to have a bad thing about KYC (Knoy Your Client). said to be good for avoiding abuse or the occurrence of robbery or fraud. but sometimes our data data that we have entered or filled out KYC sometimes they sell it. that's what I'm afraid of selling our KYC data.

[alizalela7]

I think that the government's regulation of the crypto market is good, it will have a positive impact on the market to make the market more stable and they will make the market better thanks to the government's policies.

[spartanrules]

This is really very hard to regulate cryptomarket, But I think that regulation by the government of this sphere will affect positively. Because if certain sphere is regulated, trust of people in it and business turnover will increase, ICOs will more fair and transparent, scams will decrease.

[MintCondition]

This is really very hard to regulate cryptomarket, But I think that regulation by the government of this sphere will affect positively. Because if certain sphere is regulated, trust of people in it and business turnover will increase, ICOs will more fair and transparent, scams will decrease.

Different countries face many and different issues in legalities already, joining in in cryptocurrency will challenge the more but may not make it good in implementation. It will be good to do so if the officials also know how it can be used and what its important to their citizens.

[MyCoin8]

It may not be a total good idea for government to regulate cryptocurrency. Bitcoin and cryptocurrencies were created to move away from government's control. No need involving the government again in it.

[inspirone1]

I came to a realization that government had stepped in already in some countries who are accepted and acknowledge cryptocurrency existence. In fact they made a regulations that has made some negative and positve reactions over the implementation of cryptocurrency regulations like doing KYC (Knoy Your Client) on local exchanges, Registering ICO projects to the government agency concerns and etc which purpose is to prevent illegal or abuse in the use of cryptocurrency from money laundering, funding terrorist groups and etc. Well can you say about this regulations, GOOD or BAD?

We could predict that from the very first guy who said that bitcoin is going to be the payment method in the future, that the government would step in and tried to regulate it and ordered for them to stay on the top.

[aeternus]

I think government regulations is good for cryptocurrency. It only implies that if there is regulations, there is recognition on the part of the government.

In that sense, crypto enthusiasts feel more secured and confident with their investment.

We do not need recognition from the government, that is what they want you to believe, governments are obsessed with controlling everything and everyone instead of letting people and business do their own thing as long as they are following the law, I will not be surprised that in the future you will need to get a license just to breath, I know that is an extreme example but it show to us the craziness of thinking you need government regulation to do something that you need to do.

[krishnaverma]

I feel this is a good thing, because then the cryptocurrency will be available to many people, and more importantly there is no more confusion for cryptocurrency holders.

Right. Regulations are better than complete ban as :

1) A country banning crypto completely is closing all doors. But a country which is just adding some taxes may reconsider the restrictions in future and lift them if they see people getting benefited with crypto.

2) By announcing the regulations, the government will indirectly encourage more people to invest who were earlier scared to invest.

[Tylev]

Regulation of the crypto currency primarily means its legalization. In this respect, regulation is good for her. However, further regulation and setting of various restrictions for the crypto currency, sometimes superfluous, is bad. However, the stage of the regulation of the crypto currency must be passed through. Without this, we will not go anywhere.

[Alpinat]

There is a good and bad effect when bitcoin gets regulated by the government. First when bitcoin gets regulated for sure almost all of the people in the world or a great percentage of people around the world will trust bitcoin and bitcoin's value will be very much increased. The bad effect on bitcoin is that government can manipulate the value and can be used to control people

[Omnipotent1]

I think overall regulation can be a good thing in helping fight against scam ICOs.

If an ICO has to follow certain rules else they can't do much business or get listed on a top tier exchange, because the exchange cannot risk getting shut down, then scam ICOs will be easier to identify.

Sure we want the government out, but they can be helpful in many cases.

[Etn1se]

If the state regulation of the crypto currency will lead to its legalization around the world, then it is good of course. And there is no more confusion for cryptocurrency holders. But it takes a lot of time for the whole world to come to this, because many countries do not want to recognize the crypto currency.

[Limar0]

Cryptocurrency regulations I believe is good for us bounty hunters and investors especially the one mention which is registering ICO projects in a government agency that will handle this to avoid getting scam and so that our bounty campaign participation won't be a waste of time like what had happened today wherein 80% of the ICO does not pay off right after the ICO ends.

[justspare]

Cryptocurrency regulations I believe is good for us bounty hunters and investors especially the one mention which is registering ICO projects in a government agency that will handle this to avoid getting scam and so that our bounty campaign participation won't be a waste of time like what had happened today wherein 80% of the ICO does not pay off right after the ICO ends.

It is actually a very good thing to even see that the government at least pay attention to what the people want and rather than trying to find the means to frustrate the usage of bitcoin or cryptocurrency, at least they are trying to see how they can manage it. It is a good thing for the citizen as well as the country itself, and over time, I believe this will so much help a lot with development and growth of the nation as a whole as there is so much to benefit from the space.

I believe warning the citizens to be cautious of cryptos is good because the same way it can help is the same way people can get the wrong picture and end up losing a lot as well. However, this is the way things are with most governments as they tend to look more at the bad side than the good sides. However, it is a good thing that the adoption rate in Philippine is growing very strong, and with the step the government is taking to accept and regulate the space is really going to be a very wonderful move.

[Gyfts]

Doesn't make sense for governmental regulation on a decentralized currency. The US government has already taken a stance on regulation forcing those who profited from Bitcoin to pay capital gains tax, which they do enforce. That's the extent that any regulation should exist. Leave it at that, don't add unnecessary hoops to jump through to trade, sell or obtain Bitcoin.

[spongegar]

It would really depens on the execution but entirely i belive that regulation is a good thing. It just safeguards us, the holders of crypto currency, and puts us under the umbrella of the law protected by their regulations. Because of this, we can trade without thinking that maybe this will turn out to be fraudulent or worse they could run out with our hard earned money

[BlueStackz]

It is really bad for cryptocurrency the government regulation for cryptos , because the government may either impose taxes to the cryptos and the functions of cryptos which is in anonimity will be lost because the goverent is in control with the cryptocurrency.

Well if we speak about a system with no regulations, the system actually does not work. The fact that people do not want regulations in Bitcoin is just because of the fear of being charged with taxes. And it is vague to claim that government will not implement such policies because they can really implement such policies for maximizing their own interest.

This is why people do not want regulations in Bitcoin. But I think if the government allow the crypto currency and implement soft policies on the users, the users would be able to get in with the policies and invest in the same time to earn in Bitcoin.