Government regulation on cryptocurrency, GOOD or BAD?

[embargo]

It is important not what rules are introduced - but for whom and for what purpose. This is a kind of filter for large capitals. As soon as the fall will develop a methodology for working with crypto-currencies - there will be a lot of restrictions on entering the ordinary people's market. The purpose of the crypto currency is simple - to give attractiveness to investments together with anonymity - for accumulating the capital of the rich of this world.

[jaysabi]

It is important not what rules are introduced - but for whom and for what purpose. This is a kind of filter for large capitals. As soon as the fall will develop a methodology for working with crypto-currencies - there will be a lot of restrictions on entering the ordinary people's market. The purpose of the crypto currency is simple - to give attractiveness to investments together with anonymity - for accumulating the capital of the rich of this world.

Crypto has nothing to do with "accumulating the capital of the rich of the world." It's entire intention was to create an immutable and unalterable ledger that couldn't be manipulated by a central authority. Everything more than that is artificial values people are assigning to Bitcoin. It was not intended to redistribute wealth, or create wealth, or improve the economy, or make everyone rich, or any of this other nonsense people constantly and incorrectly claim about Bitcoin or crypto.

[boksoon]

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?

Government regulation to Bitcoin is good because all levels of poor community would be the one who benefited if ever government approved of all Bitcoin transaction  has been made of course taxable amount would be deducted every transaction. That is actually easy additional source of income by the government from Bitcoin crypto currency.

[Tervelatuk]

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?

Government regulation to Bitcoin is good because all levels of poor community would be the one who benefited if ever government approved of all Bitcoin transaction  has been made of course taxable amount would be deducted every transaction. That is actually easy additional source of income by the government from Bitcoin crypto currency.

tax potency from cryptomarket is very big.and goverment need it as side income source.if cryptomarket regulated by goverment, they can take advantages from it.they can attrack taxes from trader and also cryptoexchange.

[lordmick]

Without a doubt, if the cryptocurrencies start to be regulated by the state, this will only affect them in a positive way in the future. First of all, it will create the basic for use of cryptocurrencies instead of fiat money, and in the second the media will begin to fully reveal the advantages of cryptocurrencies, which in turn will increase the demand for them hundreds of times.

[princesspoppy]

In my opinion government regulations on cryptocurrencies would have both GOOD and BAD results.If ever government put regulations to cryptocurrencies, it means cryptos will be accepted and legal which I see is good, but if it will to happen that they will put regulations, they won't let people to use and have cryptos without knowing who are these people involving themselves to it and how big they earn from cryptos. They would also want to trace every transactions done in the blockchain and worse, they might control the cryptoworld.

[jaysabi]

In my opinion government regulations on cryptocurrencies would have both GOOD and BAD results.If ever government put regulations to cryptocurrencies, it means cryptos will be accepted and legal which I see is good, but if it will to happen that they will put regulations, they won't let people to use and have cryptos without knowing who are these people involving themselves to it and how big they earn from cryptos. They would also want to trace every transactions done in the blockchain and worse, they might control the cryptoworld.

There's a difference between a government not prohibiting something and someone's willingness to accept it as a currency. If governments don't prohibit Bitcoin, that is they allow it as an official currency, that doesn't mean everything will switch over. Bitcoin has never held a steady value. That brings a lot of uncertainty to businesses, not to mention every consumer in an economy. I wouldn't expect a large portion of the population to ever want anything to do with a currency that can't hold a stable value because of how difficult it makes it to function in an economy. For all the gripes about fiat losing value over time, there's little doubt that it's still better than Bitcoin as a currency.

[baby02]

Government decisions are being made what's good for its people and economy, if the government sees that they gain profit and their people earn from it, then its good. As of now crypto is getting famous and government see it.

[Dawson_V]

Actually, regulation is good. We do not control cryptocurrencies. We do not know what will happen to them in few years. People are investing and governments are afraid of massive suicides in the case of failure. The role of governments is to protect their citizen. Regulating trade is important. We live in a civilized world, therefore regulation must be applied in every area. There are many similar examples of regulation. Internet was not regulated at the beginning. People were able to download freely musics and movies. Now they still do it but it is more or less regulated. Every new technology or new invention needs a regulation. It is the only thing which make us civilized.

[ganlianshifu1]

The government's supervision of cryptocurrencies is better than bad ones!
Supervising the cryptocurrency can eliminate some of ico's fraudulent behaviors. The government is seriously dealing with crimes related to cryptocurrencies and reducing the criminal activity of cryptocurrencies!

[Kira_lapa]

When the state starts controlling the Crypto-currency, in most cases the state itself benefits. But people who work in the crypto-currency market get a lot of minuses that complicate their further work.

[ucingucingan]

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 movements,

[jademaxsuy]

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

Yeah but there are many threads stating that the governments actions could mean to kill bitcoin. As there were no true to this accusations and in fact government had stepped in to help people be guided accordingly on preventing the possible abuses on its use. However, some of the members did not even listen the importance of the role of government in the implementation and regulation of cryptocurrency.

[darthmaul]

Performing KYC and regulating the same are both the different things. KYC just inform the employee, investors, sponsors or projects that with whom they are dealing with and the person is real as well. I guess regulation will be like taxing your crypto investment, keeping track of the same via income tax returns portals etc.
I guess both the things are good and it depends where they are being used. For me taxation on crypto is perfect agenda and it can benefit us by adding some credibility to our daily finances.

[aeternus]

I think it's good. There is nothing wrong with KYC as long as we use cryptocurrency in a good way and not abused. Even I think it should add tax regulation to the crypto holders

I disagree we do not need KYC, the point of cryptocurrencies is to create a system that is independent of government control, I am tired of people saying something like if you are not doing anything wrong you have nothing to fear, well I am not doing anything wrong but I do not want to go through KYC in any way or form, that is in my opinion an intrusion to my privacy.

[maculeth]

good, with that crypto has become a legal thing to trade and no more problems. but it is certain, the government will take taxes for it.

[MarieMoore12]

In my own country, government regulations on cryptocurrency are bad, they do not want to legalize cryptocurrency because they fear that these cryptos will make their currency down, they have not seen the potential for growth. They are big investment projects, which can bring huge profits to their country.

[Nakedbitcoin]

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?

As my opinion their is a good news and bad news about the government regulation  in cryptocurrencies. The good news is... if the government  regulates cryptocurrencies the scammers can not easily penetrated because their is an agency that looks their credibility if they are legits or scam. But the bad news is... when their is government officials abuses his power to manipulates the price of cryptocurrency.

[Agapelove]

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.

[OrangeII]

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.

I don't know, 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.