Government regulation on cryptocurrency, GOOD or BAD?

[felicity06]

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 that is the case it will bring goodness to us..  Because for me government are just doing it to make and to avoid illegal doings in cryptocurrency world...  If the result of that regulation is great why not..  I would rather accept that regulation than working here without security..  If it means good there no thing to be afraid of..  It for our goodness after all..

[laracastvue]

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.

Yes it was good for the economy of a country as well and the community for cryptocurrency will grow which means that bitcoins will have a bright future as well as altcoins.

[Violettochka]

It's good as soon as governments do that for their economy, for introducing the crypto to the society of their countries in the best way they can.

[dulinivanrus]

I think that it is good but only partly to avoid a transfer of money for drugs and crime, but in fact using cryptovault is a very small percentage of crime !

[kripkiki12]

In general, it would not be bad to have a reasonable central regulation, it could also help securing trust in crypto.

[South Park]

In general, it would not be bad to have a reasonable central regulation, it could also help securing trust in crypto.

No, that is what we are trying to avoid, if you have centralization you will need to trust the person or the entity centralizing the market and when it comes to money it has been demonstrated time and time again that this does not work, look at the history of any country and you will find that the government has always abused the power they have to create their own currency.

[usorin]

Everything sounds interesting, it is another perspective but i believe that at the end of the post there are too many zeros.

[Hasbro27]

in my opinion, the regulations made by the government by requiring KYC to be on the local exchanges, and also for ICOs must be registered with government agencies, the aim is good for the future so as to reduce the occurrence of fraud using cyrpto currency and I have no problem with such regulations

[Antonina]

I think yes. Otherwise, it will just get out of control and begin crime, theft and so on. Therefore, it needs to be regulated

[Gabali126]

It is not a complete bad idea for government to regulate cryptocurrency. It will help greatly in reducing frauds and scam from the ICO projects.

[cryptocurrencyguru]

Govt can't regulate cryptocurrency they can set some rules but control completely bitcoin transactions is not possible the main reason bitcoin is decentralised nt in any govt control

[thresher]

govt regulations are immutable unless crypto totally want to move away from fiat.

I am sure that most of the countries wants to legalize bitcoin, but they have to study the different aspects of bitcoin that can affect their economy or can create other effects of their country. I think it is a good thing and hope that very soon they will turn bitcoin as clear for their people to start using it.

[Olalomi]

I believed those  countries that have adopted Cryptocurrencies and subjected them to regulations is done in a bid to curb illegalities associated with Cryptos, there many fraudulent activities done fraudulently by using Cryptos such as money laundries, funding of terrorist organizations etc invariably government has to subject every cryptos enthusiasts, exchanges etc to KYC in a bid to monitor and have a control over them.

[BigBos]

when the government began to regulate crypto, that meant the government began to pay attention to it. well, as long as it doesn't make crypto users difficult, I think that's a good thing.

[cryptocurrencyguru]

Government regulating on crypto is currency is good if governments work in association with cryptocurrency exchangers then we can see more investors come to cryptocurrency in positive way

[btcrut2017]

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 wants only what is good for the people. That is why they make regulations. We know the fact that if the people are affected the government will also suffer. I am favorable with this.

[Gibreil]

Good at some ways, but it is a disaster to some people specially those who don't want to be regulated. There are many reason why we are here, some just want to know about cryptocurrency while other want to earn. But some of us are here because of decentralization and they don't want regulation. Anyway, I agree that cryptocurrency will be regulated because it is for legality of this industry.

[Gheka]

when the government began to regulate crypto, that meant the government began to pay attention to it. well, as long as it doesn't make crypto users difficult, I think that's a good thing.

And you should know that what the government cares about crypto is just the benefits and taxes they can earn from it, and normal regulations are only the first step to achieve that, over time, they will become more difficult and create unreasonable rules to control the crypto market. And summarized those things, I certainly would not feel this is a good thing for all users and investors, the government really should not penetrate the crypto, they just want everything under their control, they are the obstacle and make us tired, even uncomfortable when joining the crypto

[beej]

In the bigger picture of things I think there is a lot of good with regulation. As long as things go
accordingly well and fair. Regulation at it's early stage tends to be quite questionable and reluctant
at some point. But in the long run as things develop and improve, I think it's quite a formidable
stage for cryptocurrency especially with the direction it's heading on to.

[Pepito Manaloto]

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 it would depend on the kind of regulation the government will give to crypto. If the regulation are too much and much more beneficial for them than the investors and traders, then it is not a good thing but if it is just exact and focuses more on the control on the use of crypto, then we should just let it be and support the regulations.