Government regulation on cryptocurrency, GOOD or BAD?

[herrzinfakt]

It just proves that they are finally starting to realize and accept cryptocurrencies. They see it as the future and believe they need to put their hands around it. They feel the need to be in control of it, both for security and profitability reasons. Making a better community to trade and invest in cryptocurrency should be their goal. Whether they are doing it for themselves or for the people is hard to tell. I would definitely say it is both good and bad as of right now since it's in the early stages. It's also a legal issue. The government stepping in makes it legal.

[cityhall]

Could be bad and good as well.  If there is a regulation, then it is legal to use crypto which mean is a good thing.  But regulation always follow by taxes, so I think this is the bad thing.

[mrcash02]

Bad. The official justifications seem Ok and good, but on the practice it's only useful to get more money from the common investor to the government's pockets through the taxes. With or without regulations it's possible to track and find terrorists and any other kind of criminals, it's just an excuse to turn regulations more confortable and acceptable for everyone.

[Brahuhu]

it is somehow good due to the ICO's bad because crypto is a decentralize so how it will be able to say that it is if someone will regulate the said cryptocurrency right? there are pros and cons so government should think of it.

[neliawesome]

For me it depends on what kind of regulations they are implementing.If it is for the benefit of both parties then its good but if it is only for their own motive well its bad.When you say government are taking actions and doing some regulations in cryptocurrency it means that they are fully aware and embrace its existence.If they made some strict regulations like KYC it is only for the benefits of everyone not to be scammed or not to be part of illegal transactions.

[charlotte04]

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?

From all people know that regulation might be bad for it but it is actually good for crypto since authorities could help investors sue some ICO or any developer than have made them scammed.

[NOVL2]

Of course it will be for good, once goverment acknowledge the existence cryptocurrency in a form by regulating it then, more people will consider investing in the crypto specially those who have second though.

[crzy]

Bad. The official justifications seem Ok and good, but on the practice it's only useful to get more money from the common investor to the government's pockets through the taxes. With or without regulations it's possible to track and find terrorists and any other kind of criminals, it's just an excuse to turn regulations more confortable and acceptable for everyone.

Taxes is the main concern of our government and of course they will not let their people to earn more money without paying it so I think its really depend on one government. If they make a decision about thing technology, usually normal people can't do anything about it so if the government bans cryptocurrency in your place, for sure you will be broke. For me good regulations with cryptocurrency is ok for me, it may have a good or bad effect but hopefully its more on the good side.

[yohaneshs]

It's good for investors because they need a guarantee to secure their assets.
But usually we have to pay taxes as parts of the regulated.

[ilnick]

It's hard to talk about what else is not there. State regulation of crypto-currencies can weaken the interest of potential investors, since krypton will be taxed, there will be some restrictions, restrictions on the number and time of use. All this will lead to a decline in the growth and progress of the crypto industry.

[gowobonyok]

there are things that are not good to me, although ico finally also considered a legal thing. is when the government takes taxes, and is quite high, will reduce crypto enthusiasts.

[squog]

I think it's always good to have regulations in place to protect both the investors and the people accepting the investments. These also gives us comfort that whatever we are investing on is legit and safe that we won't just wake up one day and find out that people ran away with our money. I just hope that the regulations are pro people

[elysion]

It can be good or bad that governments regulate on cryptocurrency. I can not say that there is a definite distinction in this matter. Government regulation can be good. It means , crypto is accepted by legal authorities. On the other hand, it can be bad. It means that government regulation mean more transaction, more intermediaries and more fees and taxes.

[hugeblack]

There is nothing ideal since everything has its advantages and disadvantages. Currently, I expect that the regulation serves cryptocurrencies more as follows:

  -1 Remove lousy reputation for these currencies: cryptos have associated with dark activities such as prostitution and the sale of drugs, regulation will reduce these activities.
  -2 Reducing scam: A large part of cryptos can be traced, If laws put in place, fraud will cut.
  -3 Easy to get coin: There will be reliable trading platforms and other things.

The disadvantages are mainly lack of decentralization, which is the main reason for the use of these currencies.

[basyang]

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, in my point of view, there is a Good and Bad about this regulation. Good thing is if they register ICO projects to the government we can avoid using cryptocurrency in illegal activities but we can not say that we are hundred percent secured about that and if ICO project will going through the government for sure they will place taxes in every transactions. and the Bad thing is as I said we can not be sure if we are totally secured about that and bitcoin is decentralized the government can not control it. But I do not know if the goverment can control the project team of the ICO projects.

[reinielle26]

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 government is only concerned about the illegal use of cryptocurrency and the security of the investments I think it is a good idea. Investors dont have to be worried of scammers and everyone will experience the fair and square thing specially in a forum like this in which people were given a chance to earn bitcoin and other cryptos. But if the government has a hidden agenda about this of course it is bad. What if they only want to track and study our transactions and later on if they find out that we are earning good enough they will ask us to pay tax?

[usorin]

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?

This is a good thing as long as there is no taxes involved, i agree with transparency and clean money.

[erundook]

I am thinking that those regulations can be both positive and negative and it depends on the attitude of government towards cryptocurrencies.

[kinamotorami]

Once the government has intervened in electronic money, it is never good, they always try to tax and put some regulation into the market. So I do not much care when the government intervenes in the crypto.

[befriendmywater]

Once the government has intervened in electronic money, it is never good, they always try to tax and put some regulation into the market. So I do not much care when the government intervenes in the crypto.

I think government regulations for Bitcoin have two sides. It depends on the perception and the correct understanding of this electronic currency. If they are to create a playground with many favorable conditions for Bitcoin to develop legally, then no problem. But to limit it to being more controlled, it's not good.