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Author Topic: Government regulation on cryptocurrency, GOOD or BAD?  (Read 3123 times)
iASIC
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September 07, 2018, 07:14:36 AM
 #421

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 that is a wise decision of the government. For example in Russia, Putin has accepted the right to use and trade in the Crypto market. But they will have to pay higher taxes than normal for the government. It is a very good strategy to find money launderers.

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BagzMM
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September 11, 2018, 02:14:00 AM
 #422

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.
Yes i do agree,, it is a good sign that bitcoin would be accepted and regulated by government for the everybody's development.

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September 11, 2018, 02:47:04 AM
 #423

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.
Yes i do agree,, it is a good sign that bitcoin would be accepted and regulated by government for the everybody's development.
acceptance bitcoin or cryptocurrency in online store or other merchant could happen.and much people could spend their crypto balance to buy their daily needs or something other.

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September 11, 2018, 06:37:02 AM
 #424

I think government regulation for ICOs is good for investor. Investor fee safe on their investment because many scam ICOs in market and if government regulated by using KYC, it will reducing scam ICOs and can safe investor money

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September 11, 2018, 06:51:36 AM
 #425

Regulation can lessen the people who got scammed due to the number of scam ICOs that's currently existing, it might not totally get rid the scammers but its a relief that the government will take an action regarding this.

The bad side would be the taxes that we need to pay for each transaction that we have made and the anonymity of us are no longer present.
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September 11, 2018, 07:28:06 AM
 #426

It's good in the long run eventhough the impact in the short run is negative especially on prices of crypto assets. This regulations is part of the reasons why we have witnessed huge drop in prices of coins but I have come to face reality that mainstream adoption cannot be achieved without regulations.

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wingsthegreat21
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September 11, 2018, 07:46:48 AM
 #427

I think regulation will only make cryptocurrencies better, stronger and fairer. Regulations are safeguards that will help to protect users from loss, fraud and promote fair practice. Exchanges will require that you identify yourself. This means if you want to go back into fiat you will be known to government bodies and required to pay the necessary tax's on profits.
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September 11, 2018, 08:09:41 AM
 #428

It can add up profit and support to our economy as a country. Bad when the government focuses more on its own interest through heavy taxation because right now everything goods and services has already been taxed by the government.
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September 17, 2018, 04:54:57 PM
 #429

Government regulation is good and at the same time could be bad, meaning it would be already legal and also rules is really needed in cryptocurrency which could help remove scams, however, it could be bad because crypto now is controlled by the government and may decrease potential profits.
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September 18, 2018, 04:56:48 PM
 #430

if this happens, many investors will be able to enter this market, so I think it's good, but when all this will be not yet known
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September 18, 2018, 05:13:31 PM
 #431

EU Parliament told that crypto assets are going to stay and ico are very good way to raise funds for companies .EU want to regulate ico and give EU ico passports
But EU want to set up funds limit up to 10 mln euru
Probably from January legislation will be ready and we will have regulated ico in Europe
It looks good to me will be more easy to avoid scams

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September 18, 2018, 05:25:34 PM
 #432

previously the government had a good aim to provide regulations on crypto currency, but it would be bad when the regulation was used or used by certain parties to get their own benefits

That is one of the reasons many don't like the idea of a certain government to intervene in cryptocurrency as their are only parties that would use it or create a regulation and law that would benefit them, however it is one of the necessary steps that we need in order for it to be adopted to the masses and we just have to deal with the because of the decenteralized nature of cryptcurrency we still have the power to it.

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September 18, 2018, 05:42:09 PM
 #433

I think regulation mean that cryptocurrency is legal in that country.  So it is GOOD.
I do think the same, with regulation it can help to introduce cryptocurrency to new people that dont even know about it. With regulations there will be a protection for investors and it will become barrier for people that trying to make a scam from it. ICO seems the easiest way to fund money and many people use it as a way to scam people so i do believe regulations is good for everyone.

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September 18, 2018, 06:13:31 PM
 #434

I think regulation mean that cryptocurrency is legal in that country.  So it is GOOD.
I do think the same, with regulation it can help to introduce cryptocurrency to new people that dont even know about it. With regulations there will be a protection for investors and it will become barrier for people that trying to make a scam from it. ICO seems the easiest way to fund money and many people use it as a way to scam people so i do believe regulations is good for everyone.

As my country has put some restrictions upon Cryptocurrency and its transaction with fiat, so I feel it's better to be regulated than completely or partially restricted or banned. P2P system is good, but still, people are hesitant to take up this system and use it. New users have seemingly gone down after the restriction was imposed. While introducing to my friends, maximum of them said no after knowing the restriction by government.

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September 18, 2018, 11:25:37 PM
 #435

if government regulations on crypto to prevent crypto abuse such as for terrorist financing or money laundering then I think
that is a good thing, provided that the rules made do not harm us as cryptocurrency users, I don't think that is a problem

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September 18, 2018, 11:29:48 PM
 #436

Investors and consumers will feel more secure with their investment in your project if they see you have a regulatory stamp of approval from a jurisdiction that protects their interests. It gives them certainty that you are operating above board and provides a place they can go to argue any grievances should something go wrong. Regulation is a good thing and it helps the adoption of the blockchain technology.
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September 19, 2018, 12:40:34 AM
 #437

Government regulations will cause a good impact on the crypto industry in total as it will meet the approval of several (about 80% of governments from different countries across the globe) governments. This will eventually clear the doubts and fear most potential investors are facing due to the attacks coming from the governments now.

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September 19, 2018, 10:35:22 PM
 #438

I have always thought that cryptocurrency regulations is bad because it is going to come with quite a number of limitations. That should not take away the fact that cryptocurrency regulations may come with some advantages, one of which is to bring the numerous scams to and end.
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September 19, 2018, 10:40:24 PM
 #439

It has both, advantages and disadvantages. Here in Germany Bitcoin is officially accepted as a payment instrument, it's nice BUT it means at the same time you pay TAXES TAXES and more TAXES, even for POS you must pay taxes, it's sad  Undecided
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September 19, 2018, 11:28:06 PM
 #440

The situation could be described as good or bad depending on how one see the larger picture. I believe the world of cryptocurrency runs on the decentralized blockchain technology and as such, government continuous interference in the  matters of crypto would not appropriate.

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