Government regulation on cryptocurrency, GOOD or BAD?

[mrbamboo]

Currently in my country the government has not issued specific regulations for electronic money, some MPs have proposed the legitimization of Bitcoin but the head of state can not accept. However, the country's economic administrators are gradually establishing legal institutions for Bitcoin to legalize Bitcoin in the near future.

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[mrbamboo]

Government regulation is both good and bad. The bad news is that there are restrictions, and not everyone can enter the crypto-currency market. The good thing is that government regulation is the protection of citizens from the possible loss of all capital.

Yes. The government's refusal to circulate Bitcoin is also a way to protect people from fraud, but only to a certain extent. How real? There are also scams involving electronic money, and the government can not do anything to protect people, even if the money they lose is not a problem. I think the best way to protect people is to make the law as a legitimate tool for better management of Bitcoin-related activities.

[entrepmind23]

Currently in my country the government has not issued specific regulations for electronic money, some MPs have proposed the legitimization of Bitcoin but the head of state can not accept. However, the country's economic administrators are gradually establishing legal institutions for Bitcoin to legalize Bitcoin in the near future.

I think it is better to do it when the usage is not that widespread yet so that they can properly implement the necessary measures. Even if cryptocurrency was created to let go of the control of the people who are in power, we cannot still do that because we are still depending on them for the mass adoption since many people still believe that a currency would only be valuable if it is regulated. This is the reason why many are waiting for ETF because it would make some institutions be able to invest on it.

Basically, cryptocurrency regulation is good for crypto investors in the sense that they may be safe with the ICOs they're into but for some, it can be bad because there will be limitation already of crypto use. Tax on your earnings from cryptos, for example, will be mandatory and thus taking a slice of your total earnings no matter how small it is.

Just think of the tax as a contribution for your country so that they can implement the projects properly because they have the budget. As for the ICOs, regulation is needed because many people would just easily implement an ICO just for the sake of raising money and run away with it. They are lax with it because they know that they can get away with it but if there is regulation then they cannot just easily implement it.

[darewaller]

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?

Well it’s quite a good idea, but don’t forget that the government themselves are filled with criminals too. Okay, good I agree that cryptocurrencies might be used in funding terrorists , but come to think of it…who the heck sells weapons to these people? Is it not the same government ?or have terrorists gotten their own industry where they produce weapons and bombs and the rest of them? Humph… well, what I can say is that everything has an advantage and disadvantage.

[Menawi12]

Off course regulation is good for cryptocurrency market. If crypto market regulated by government, more investor will come and old investor more confident with their investment because its regulated. Every market need regulation from government because its protect us from investment fraud

[South Park]

Basically, cryptocurrency regulation is good for crypto investors in the sense that they may be safe with the ICOs they're into but for some, it can be bad because there will be limitation already of crypto use. Tax on your earnings from cryptos, for example, will be mandatory and thus taking a slice of your total earnings no matter how small it is.

One big problem with people is that they want contradictory things, they want to have the possibility to make a lot of money through icos but at the same time they do not want to accept the huge risk that an investment in an ico carries, so they want regulations to protect them but if that is the case then the profits will no longer be there, this is why if the market of icos is regulated is completely irrelevant to me, I took my choice and my choice is bitcoin.

[Cryptoworld4]

Government regulation for cryptocurrency will not be too good. It will bring the same restrictions experienced in the use of the fiat and banks. People won't be comfortable with crypto anymore.

[MahalQu2612]

In my opinion, regulating of cryptocurrency in a certain country is good. Due to the rampant number of scammers nowadays, we can't deny that we need a law that protects our assets. Aside from that, if there is a regulation in cryptocurrency, scam projects will be prevented to exist. But in some cases, regulation affects our wants which is decentralization.

[ZeroBTC1]

Let the government not be deeply involved, else they will tend to control it.

[Roksodhon]

I welcome with joy if the Government would regulation about cryptocurrencty, even I have no problem if the Government will also take a tax of cryptocurrency as a long as tax it is not too much,  and it can be used properly. And this will give a positive impact on the world of cryptocurrency.

[destiny100%]

Governments want to preserve the national budget, so the government will not like the crypto market. When people invest in this market, the money flows out of other countries that the government can not control.

[BigTeeths]

It's good for us. Let's just think that Cryptocurrency is just like other business and we are recognized by the government and we followed the rules so they can let us operate. We benefit more on this and the only bad thing that I can think of is the politicians attempt to manipulate it in the future.

[hualy2]

In fact, the government cannot regulate the cryptocurrency, but the launch of the ICO can be regulated. I think this is a good thing. ICO has caused many people to go bankrupt. Especially in 2018.

[ngano ba]

If the government are to make the cryptocurrency legit, then the cryptocurrency will be regulated, we can not say if it is really bad or good for the holders of cryptos ,because it will depend on the terms and condition they have agreed .

[South Park]

Government regulation for cryptocurrency will not be too good. It will bring the same restrictions experienced in the use of the fiat and banks. People won't be comfortable with crypto anymore.

Not completely, even if the governments tries to regulate this market, it is not as simple as passing some laws and then people will comply, all of those people that use exchanges will have to do it but for the people that only exchange cryptocurrencies among themselves and that use bitcoin directly, what they can do to them? They do not even know who they are and the chances of finding out are very slim.

[paynercash]

Sometimes government regulations have plus and minus values. The good and bad of government regulations must have consequences. Sometimes government regulations can be good because they prevent acts of crime by irresponsible people. But also sometimes it looks bad, because there are still many good people who use bitcoin. That's just my opinion.

This also depends on many issues. And there are always bad or good things that can happen. But in general, most communities are good thinkers. Be responsible to the community and play beautiful. That is the wish of any market. Especially the electronic money market. The government is just hoping to benefit them and also prevent the bad guys.

[chidiarua]

Personally, I think it's not entirely bad for government to come into the picture, though it would be disrupting the initial game plan; decentralization. But for the sake of security and maintenance of balance economic activities, such interferences are welcomed.

[kniheant]

if the regulation benefits cryptocurrency, or supports it, then it will be very good, because that might be the form that the government has accepted. but, if not, then of course that is something that is bad and can have an effect on cryptocurrency.

[kniheant2]

it is good,because if the government regulates crypto currency means the government accepts crypto currencies, and government revenue for crypto currencies is very difficult and affects price.

[Pattart]

If the government are to make the cryptocurrency legit, then the cryptocurrency will be regulated, we can not say if it is really bad or good for the holders of cryptos ,because it will depend on the terms and condition they have agreed .

Right, when the state legalizes bitcoin we don't know what conditions the government will provide for bitcoin users, whether it's data verification, tax, or anything else. but of course there is a positive influence from legalization. of course there will be many people who then believe in bitcoin and there will be many mass adoptions..