Government regulation on cryptocurrency, GOOD or BAD?

[deevan]

It can be considered a Good decision, as it will protect the investors from scam ICOs. Any team that is willing to start an ICO from the country where ICO is legalized have to first register with the concerned Governmental department that is responsible for ICO activities then they can only start an ICO. The investors who are willing to invest will then first look whether the ICO is registered with Governmental bodies as it will build their trust on it and can invest & get assured from the Government that they won't get scammed. This regulation is also to keep eyes on people who are involved in illegal activities which might be dangerous to the country.

[prinlyn]

Government regulations for cryptocurrency always exist in two ways. The positive side for the government, ensuring the transaction occurs under the control of the government. On the negative side, the interests of investors are narrowed. Prices are controlled publicly.

To some extent it is good and to some it is not good. It is good because crypto will be more reliable when government regularize it and on the other hand it is not good because government will impose tax and they will control your transactions and this is not acceptable to many people, therefore they do not want that government should be involved in cryptocurrency.

[Komissarnik]

Considering the basic principles on which the very idea of ​​cryptoeconomics is built, there is not any sense in tying crypto-activity with the economy of a particular state. Anonymity and decentralization did their job. At this stage, Bitcoin is the freedom and attentiveness of the economic relationship. Well, whoever manages the funds received is the eternal question of the purity of any money.


If the message was helpful, I would be happy +Merit

[binhvo1505]

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 has good and bad parts. The bad part is for the bounty hunters, they have to send their own kyc and that really does not make them feel comfortable. Conversely, they can reduce the number of scams.

[ophyrim]

The answer is not as simple as good or bad. The regulations mean centralization of the crypto market which is against of the nature of this market. But on the other hand, regulations mean some big investment of institutional investors=moon.

[max fray]

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?

Is talking about KYC and registering ICOs to governmental agencies I totally agree with this policy hoping that it would prevent scam projects and people registering tons of accounts into a single ICO. All in all, there should be some regulation of crypto market, otherwise it all looks like chaos.

[yusupjatigumilar]

in my opinion that is a good thing, when the government rules crypto currencies it will increase investor confidence and invite new investors to invest their capital in crypto currencies, especially when they can provide guarantees to invest like other commodities

[dongyi17]

For me its good, because its prove that the cryptocurrency is legal in the country. Its good because many investor invest in cryptocurrency without doubt. Many people can access now in cryptocurrency and can transact easy and fast.

[Schirer]

All supervision is impossible, because the cryptocurrency has certain anonymity, and it is also great because of anonymity. But ICO is the best way for all humans to achieve regulation.

well yeah you have the point but when it comes to exchanges where your country will be controlling of buying and selling crypto then anonymity will not work because you will undergone one time KYC process which will relatively requires you to make an account with all the personal details connected unto you. In this way you will be monitored on how much crypto you can transfer in the exchanges which also allow the government to see through those large volumes of crypto conversion.

The exchange regulation altough would regulate most of the txs, there always will be people who will be ready to buy your crypto for physical FIAT so it is easily bypassable.

In general there still is very few countries who have regulated the matter, US have regulations but they are not corresponding to the times, they are regulating coins as securities which is like 50 year old law.

[demonz666]

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's good to prevent criminal acts and scam ICOs. cryptocurrency was created decentralized no one can control. but if I only regulate it, I don't think it's a problem. because crypto is anonymous so it is vulnerable to being used as a crime tool. KYC usage rules are also good for avoiding illegal users. so the government needs to regulate that crime cannot be avoided and the government can also provide security services for crypto investors so that their wallet is not hacked. and the government can also take taxes from crypto profits so that between crypto investors and the government benefit each other.

[sinkfish]

there is a  fine line between brilliant plan and worse idea. government intervention must tread carefully.

[Newer]

Good or bad, government regulations on cryptocurrency depend on the country's own policies. In my country, the government prohibits the use of cryptocurrency on the grounds that the exchange rate fluctuates, making it vulnerable to the risk of economic bubbles or bubbles, and the potential to be used as a criminal act, such as money laundering and terrorism financing. But in my country anyone can have a cryptocurrency provided that it is not used as a payment instrument.

[bangkit tri]

For me its good, because its prove that the cryptocurrency is legal in the country. Its good because many investor invest in cryptocurrency without doubt. Many people can access now in cryptocurrency and can transact easy and fast.

with the legalization by government, i think it will accelerate development of bitcoin, as we expect. besides many investors who feel comfortable, of course BTC will be easy to use in everyday life

[MinSiu]

of course, it is good. I believe that government regulation on cryptocurrency will help bitcoin become better and better in public's view

[brookecooper]

It is possible that these regulations are good for some countries and their governments because they are consistent with the economic development of their country. However, generally, these rules will affect the nature of the cryptocurrency.

[Renampun]

I don't really understand the law and I think if the cryptocurrency is regulated by the state or another it's not good, because it will affect the price and circulation. do you want if the Bitcoin price cannot be more than or less than they set? 

[Ycekezuv]

Regulation of cryptocurrency is actually a sign that governments somehow gradually begin to accept cryptocurrency in the form it is, they just want to secure and see the legitimacy of transactions!

[mejalipat]

the government that will regulate the crypto currency in a country might bring goodness that the crypto currency will be able to be used legally in the country but the government will certainly impose new regulations to provide benefits to the country

[KKH84]

I think that is good, the government has begun to see this cryptocurrency, which means that in the future crypto will be accepted in all countries, but the rules do not favor for one group, I mean not for the benefit of the government itself.

[kidoseagle0312]

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 in my point of view, I can consider it a good things than banning crypto currency. Because, if once the country didn't accept the system of crypto there is a tendency that they can ban it anytime they want it to do. So, if somebody are worried for the regulation of crypto because they want to become centralize from decentralization, perhaps we really do nothing about that matter.