Government regulation on cryptocurrency, GOOD or BAD?

[lavara]

Here as a coin - two sides: good and bad. The bad thing is that when the crypto currency is banned in the country, chaos occurs and the market is formed illegally, this leads to all sorts of speculation and fraud, sometimes the passage of KYC makes trade complicated and. But the good side is the legality, the entry of more players into the market and the increasing popularity of crypto-currencies, the rapid introduction into all areas of use.

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[turkandjaydee]

Bad effect for bitcoin after regulation from government to banned bitcoin transaction in their country, we can see how increase drop of bitcoin after Chinese banned bitcoin transaction in their country. Many country will do the same to banned bitcoin and just waiting with bitcoin have drop price.

I read from the news that there are goverments who want to support cryptocurrency but they really want to regulate it first. Well i think that its the only way because it will be very very hard for cryptocurrency to be mass adopted if government dont want to support or even allow it.

[maksimukr1989]

That's right.I believe that this is very necessary from the point of view of the legislation

[seniorita]

I think regulation is bad for crypto currency, they limit the function of crypto currency, making us unable to use cryptocurenncy fullest. But still regulation is better than getting banned.

[alkiw21]

Sometimes government regulations about bitcoin are good and bad. Sometimes the government makes regulations so that people do not use bitcoin for fear of being used for negative actions. So the government makes rules so that people understand about bitcoin. That's all in my opinion.

[tinystone26]

Regulating Crypto by the Government is really good and I think it must be happened when Crypto is legal in any country with a stable value in the market that we can use it easily in any tansactions. But for this moment it is really hard to make a regulation to Crypto while it is not legal in any country and low value in the market.

[Hamstead]

Anyways, regulation is a way to provide as assurance that we are safe from investing but we also think that it might be abused by the authorities which could only ruin the system and that would people get worried. Having a decentralized market isn't bad at all since all prices are uncontrollable but yet there is no assurance of turning back our money from our investment since all transactions aren't refundable by someone else.

[kolsernik]

I think it's all right.It should be.Cryptocurrency should be used for good deeds and not for money laundering and terrorist financing.

[Muzika]

Anyways, regulation is a way to provide as assurance that we are safe from investing but we also think that it might be abused by the authorities which could only ruin the system and that would people get worried. Having a decentralized market isn't bad at all since all prices are uncontrollable but yet there is no assurance of turning back our money from our investment since all transactions aren't refundable by someone else.

that is the right term for me being regulated by the government meaning is an assurance for the people to invest, because people will only enter to a particular thing if there is an assurance from the government. When the government intervene in cryptocurrency it is a good sign that the crypto industry to that country will be good.

[7Dyoknga5]

Implementation of KYC does not assure security. Filling up information in KYC is like creating new account on social media or email.

Regulation of cryptocurrency to avoid illegal activities is a good notion, but no concrete program or process yet has been proposed.

[South Park]

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 a perfect world we will not need regulation and everything will be fine, but right now there are so many scammers trying to deceive icos that some call for regulation of the market of icos, and right now I am undecided about this, government regulation will definitely reduce the number of scams but I do not like it, in the other hand if enough people lose their money the market of icos will get smaller or even disappear but it seems there are always fools throwing their money at them.

[Vinalians]

I don't really agree in this type of regulation. There are still many people in the government that they are not helping other people and they only help their selves meaning to say they are selfish. Regulating bitcoin is good but for now we should adapt first the idea of cryptocurrency.

[bitbunnny]

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 a perfect world we will not need regulation and everything will be fine, but right now there are so many scammers trying to deceive icos that some call for regulation of the market of icos, and right now I am undecided about this, government regulation will definitely reduce the number of scams but I do not like it, in the other hand if enough people lose their money the market of icos will get smaller or even disappear but it seems there are always fools throwing their money at them.

It's true, regulation can help us with scams but not only with that.
Regulation and legal back up will help Bitcoin to get more accepted and introduced in legal businesses and economy. Also, people will have more confidence in something that is legaly regulated so demand will increase and that could lead to price increase.
To my opinion regulation is good and needed.

[usorin]

Regulations in the crypto world are welcome as long as it is maintained the freedom of decentralization and the tax free environment.

[michellee]

Regulations in the crypto world are welcome as long as it is maintained the freedom of decentralization and the tax free environment.

we can hope that the governments will think about that so the regulations can give something for us and for the country. but I think the regulations will be like a tax and we need to pay the money because we are making money and it will like an income in the real life. as long as the regulations are not only given benefits to the government and they can fair with the crypto user, I think we can follow the regulations because we don't want to get any problem that can make us difficult to continue what we did.

[Ewox]

In a way it could be good to regularise cryptocurrencies because then we would know that the country we live in or are visiting accepts such. But it could also turn out to be bad if it will be put into bad use for these governement employees. So it just depends actually on the people controlling the currencies by the end of the day.

[RBEP-RBC]

Some regulation will be good for the overall growth of the market, since that is necessary for mass adoption but there will ultimately be gradients of compliance with regulations. Some will be built, forked or updated to comply with the regulations in large markets, while DEXs and privacy coins will resist government censorship but will only be adopted by the ideological set. It will be interesting to see if any ecosystems develop that accept regulation but at the same time undermine the governments that regulate them.

[RBEP-RBC]

In a way it could be good to regularise cryptocurrencies because then we would know that the country we live in or are visiting accepts such. But it could also turn out to be bad if it will be put into bad use for these governement employees. So it just depends actually on the people controlling the currencies by the end of the day.

That's the whole problem with regulation that blockchains were supposed to help solve, removing the random human element from daily governance. I'm not sure I believe in 100% Code is Law but fewer bureaucrats is always a win.

[cherrymobile]

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?

good because goverments will not say that this is a scam or fraud and good because they will watch and seee what are the scams icos now and transactions but not good because goverments can manipulate it and we need to pay tax because of that .

[tanzaholzmann]

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?

my answer is yes. if the cryptocurrency market is official in your country and requires KYC to be able to send money from the market to your local bank and there may be additional fees for sending money to your bank savings