Government regulation on cryptocurrency, GOOD or BAD?

[jademaxsuy]

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?

[jarojak]

I think regulation mean that cryptocurrency is legal in that country.  So it is GOOD.

[dothebeats]

As for the case of cryptocurrencies, it has done good more than harm to most countries. Regulations help people and investors acknowledge a certain investment and attract the average Joes into trying it out. Also, it steers fraudsters and wrongdoers from using cryptocurrencies as a vehicle for their schemes since they know for a fact that cryptos aren't an uncharted territory anymore. However, too much control leads to danger for the progress and growth of cryptocommunities and cryptos themselves, take India as a fine example. As long as the governments don't meddle too much with cryptos and just enforce regulations for fraud and on the platforms facilitating trades, it's all good.

[Cointoli]

This is what i am thinking also that having a cryptocurrency being regulated by the government is a good sign that the country has accepted and it will be good for the people out there who love to get involve in cryptocurrency investment. This is a really a good realization to some of the members who are actually speculating negativeness on the government on their participation. Therefore government pariticipation is not BAD at all instead it brings goodness to people who do love cryptocurrency.

Government intervention in cryptocurrency in countries that accept it as a currency is unavoidable because it is certain that the government wants to manage its trading activities in this market. Government management will bring more security to investors because of more strict management.

[kasurnya]

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?

of course very positive, this is for security together.
and no party will be harmed, if the government applies the rules to cryptocurrency, then we must obey it.

[Slash61]

There is no fault in management within the government and maybe it will further strengthen Bitcoin as the recognized cryptocurrency in the country, legality is very important to convince other investors to invest in it, as most people think that Bitcoin is very dangerous and there is no state recognition and make they are reluctant to invest and find a more certain, for me the legality will add massive adoption and it will be very good.

[BTC-BTC-BTC]

Definitely is a good thing for Bitcoin. With the right regulations will protect all the investors and big investment companies will get in only with the right regulation to protect themselves. Also, it should take care of some the scams out there.

[BrewMaster]

it is not possible to say if it is good or bad generally without studying each one of these countries and their regulations on a case by case basis. and also some time has to pass so that we can see how they work.

it can be good in the sense that it can create some sort of confidence among investors that they are investing in a regulated market not an unregulated one. which can in turn increase the adoption of bitcoin and its price.and eventually the regulations wouldn't matter as people learn more about bitcoin and understand what "decentralized" really means!

but it can also be bad since some regulations can be restrictive and bad. for example taking huge taxes, or the fact that exchanges are still risky places even if they are regulated. so we can still see the same downsides.

[ryurifai]

If 2017 was the year of the ICO, it seems as if 2018 is destined to become the year of regulatory reckoning. Things have already begun to heat up as countries around the world grapple with cryptocurrencies and try to determine how they are going to treat them. Some are welcoming, others are cautious. And some countries are downright antagonistic.

[Ridwan Fauzi]

Can you see that happened before the movement of bitcoin price is very susceptible by various regulation, be it government regulations or regulations of the company.

And I guess in 2018 this price of cryptocurrency reduction is caused by various regulations that refuse the utilize of bitcoin. especially government regulation, every country will have many bitcoin or cryptocurrency users, so as they will be afraid of government threats or they predict bitcoin prices will drop when its government prohibits bitcoin.

To answer badly or not it depends on the conditions, I mean government regulation will be bad if looking from the condition of the price side, and the other side the government has full right to do what is not good for the economy of the country in their view.

[tuhnupeppu]

I think because they are putting regulation on cryptocurrencies it means that the government is finally accepting and they don't want crypto to be out of control. Maybe it's for their own profit or they are simply trying to make it safe for the community to deal in cryptocurrencies.
Reducing fraud counts and such. So it can be both good and bad.

[ReiMomo]

Governments wants to make sure there is tax is levied and collected from any source and crypto currency is a big resource for them to collect more tax in the form of rules and regulations. First they will levy rules and regulations and step by step they will impose tax on crypto currency exchange and trading in future. I think we cannot stop it or accept it since it in the hands of government to decide on it.

[ajqjjj]

Regulation is need for the legalization of Cryptocurrency so all the government are regulate the crypto then only it will legalized in a country. So It is good for the peoples satisfaction and protection because government is responsible for after legalisation peoples are believe the government so regulation is necessary for all the countries.

[patron bounty]

Of course very well, the government has implemented a regulation against bitcoin whether it's tax or the other.
it shows bitcoin has been received in the country.

[shield132]

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?

If you want to be an official exchanger, then you have to agree some regulations but still it doesn't matters because you can always exchange your bitcoins without leaking your identity. Just tell me which bitcoin mixer uses KYC? Lol, no one because you may know what's their mission + no one will register official exchanger or otherwise they will have no customer. Now even built in exchange/mixers are on market. Regulations can't stop dark market, it can only control white, legal market and that's ok.

[KocaEfe]

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?

Do you not see in their words the answer. Let the state allowed to trade crypto-currencies, but it did not give the right to deceive people in these ICO, which is every second deception and fraud. And as for money laundering, it is already control over citizens. It is not good ((((

[waqasniaz007]

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?

I think regulation is good sign because it gives freedom to people for using crypt currencies with no government threat but still there are a lot of needs to be done.

[miyaka26]

Good or bad? well it kinda depends on your own country and the kind of the Government that will regulate the cryptocurrency, well its basically good as you can legally trade, own and convert those cryptos into fiat with tax as long as you are not violating any laws and regulation under their rules about cryptocurrency.

[jonikris]

of course it's a good thing for bitcoin with the existence of the rule then all will be safe safe and when the government later apply cryptocurrency system then we must obey it

[i-spn]

This depends on what government it is. If that is a good government who respect freedom, decentralization, or its power is restricted by  its citizens, then it's good. Otherwise, it's very evil.