Government regulation on cryptocurrency, GOOD or BAD?

[Friskaadew]

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?

It depends, because each country has different regulations in each country, sometimes there are regulations that are not too heavy on BTC, because they emphasize to their citizens to be careful in transacting using BTC, there are countries that strictly prohibit the existence of BTC for any reason, so for GOOD or BAD returns to each country and the government that makes regulations, because each country is different

[0x000216]

Government control in cryptographic money is certain a decent advancement as it will increase the value of the presence of the crypto space, this will likewise guarantee there is a decrease in trick and programmers exercises, as checking framework will be made accessible.

[hsyncl]

I think the arrangements will be good. but it will not be very useful if the regulations go in the direction of restrictions. A few arrangements will really increase the interest of new investors.

[solkinsolali]

I am still skeptical about the kind of regulations the government wants to bring to cryptocurrency. What is the government's real intension? If it is real, then it's fine.

[escalante28]

It means good because crptocurrency in your country is legal. Base in what you had mention, what the government did was for the good for the good. Just believe in them, they know for the best of your country. It's a protection for an illegal activities. In fact you are lucky because crypto was legalize in your country mate. Be thankful

[kumala_abi]

I think the arrangements will be good. but it will not be very useful if the regulations go in the direction of restrictions. A few arrangements will really increase the interest of new investors.

if they want to do this, they should legalize cryptocurrency in their country.i think there are much tax poteny from this market if crypto exchange legalize.

[randegibran]

in my opinion it is good that there is kyc, so the government can increasingly believe in crypto because the government does not need to worry anymore about being able to track crypto users and guard against crime.

[ganlianshifu1]

The development of the cryptocurrency industry is still in its infancy, and countries are exploring the regulatory measures for cryptocurrencies!
The introduction of regulatory policies by countries around the world is conducive to ensuring the long-term development of the industry.

[strunberg]

in my opinion it is good that there is kyc, so the government can increasingly believe in crypto because the government does not need to worry anymore about being able to track crypto users and guard against crime.

actually kyc important for cryptocurrency community.government could take prevention action if someday there are many money come from criminal case.

[jimmyd178]

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?

Regulation is good for cryptocurrency because it will bring in more investors. These can negatively affect the anonymouse nature of the crypto space. money laundering still goes on through conventional banks, while blockchain is bringing a technology that can not be manipulated. We have projects like Mfchain, Pundi X working towards mass adoption of cryptocurrency. The regulations will give legal backing to this kind of project in such countries to be implemented by local businesses.

[sinkfish]

very much government got enough problem on their own. right now crypto posses a problem to most of them. regulation could keep crypto problem at bay for a moment before they decide to really deal with it.

[buje micin]

the regulations that the government applies in crypto are ways to prevent illegal transactions or terrorism, and that is good for all of us.

[realcrypto]

Let the Government leave cryptocurrency alone. We have being operating under regulated financial system from the time  immemorial and it is of importance to us. Let us leave in financial freedom for once.

[richmcrich]

I believe that everything depends on the specific methods of regulation. There may be many nuances: to whom are given more freedom, subject to whether earnings of cryptocurrency or mining tax, and others.

Also there are degrees of regulations. There should be one and the same system for all those who are using the technology and make money by it. Like we have the tax system but in majority of the countries, they do not give tax which of course is illegal but the government stays silent in such maters for these people who do not pay taxes are those who aid them in the election campaigns. Regulations like these would rather carry the system to chaos and might not give the fruits that could have otherwise been extracted..

[Menawi12]

the regulations that the government applies in crypto are ways to prevent illegal transactions or terrorism, and that is good for all of us.

Its true. It will erase negative perspective about cryptocurrency always used for illegal activity or criminal activity. With government regulation, we will more confident with our investment without afraid we are breaking the rules. It will increase confident to new investor

[esetop01tryba]

Verification of documents and regulation of cryptocurrency in my opinion violates the rules of users and investors ! The bitcoin was created for anonymity ! Moreover, you can go to check the documents on a completely different person and it is already illegal !

[Muzika]

Verification of documents and regulation of cryptocurrency in my opinion violates the rules of users and investors ! The bitcoin was created for anonymity ! Moreover, you can go to check the documents on a completely different person and it is already illegal !

But for me it is better for the government to regulate the cryptocurrency specially those teams with manage the project because there are lots of ICO ends up to be a scam project, with the government regulation the participants and the investors are protected.

[NEERAJ ANAND]

Regulations are always good and they make in the best interest of people and regularizing cryptocurrency is also good for investors. This will stop illegal use of cryptocurrencies and it will benefit in the long run to investors.

[Yantoaja]

I think all things must have the good side and the bad side just like the rules for btc, maybe the bad side of their country that bans bbtc will be a little difficult to get btc or information about btc, and make btc unpopular in the country, and the positive side will probably be even more reduced fraud against btc which also led to more and more investors who were hesitant to invest their money in BTC.

[Seeker#9]

What I know is that countries are planning to impose regulation on cryptocurrency exchanges but not on cryptocurrencies like bitcoin and ethereum because they already decentralized meaning no one can control it or make some changes in the coins itself. Regulations are good if they are not restrictive or there are too much rules on using any cryptocurrencies. If the aim of the regulation is protect the users and curb the use of cryptocurrencies in illegal means like money laundering and trafficking, it will be good.