how governments can regulate digital currencies?

[fianaindriati]

Cryptocurrencies themselves, they can adjust not can, because they have no single center. They will be able to regulate only their exchange for Fiat

I think that digital money cannot be regulated by the government, because the circulation of digital money is not through a running bank. so the bank is having a hard time participating in digital currency.

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[rolls89]

If governments could effectively stop a peer to peer network, they would’ve shut down the illegal practices of torrent websites over a decade ago. Even the success of the hydra-like torrent sites isn’t a perfect analogy for bitcoin, though, because cryptocurreny’s legal status is far easy to debate.Beyond the difficulties presented by the decentralization of bitcoin itself, governments and regulatory bodies have shown they lack understanding of technological topics, and bitcoin is one of the most complex. As governments struggle to ban technologies like Tor and encryption, it seems impossible to imagine them gaining the ability to truly impact bitcoin – and its alt-coin contemporaries – in a way that could impede its progress.

[salimRonn123]

Most of us have submitted regulations with the KYC that we have made and although sometimes it feels that KYC goes beyond what is really needed, it feels like we have no real choice. Because it was mandated by the government against the trading floors if they wanted to continue to operate. They can use the KYC and AML rules against a local exchange before the digital currency is converted into that country's currency, imposing taxes on every transaction on a local exchange. is what happened in my country today. In order to adjust the digital currency in relation to electronic money, the government must and must be the majority owner of all electronic money. They can determine the market price of a coin at a specific time and time. Crypto is global and decentralized, but its users do not. In addition, to exchange, this means that if you are running a exchange, or an interface for decentralized exchange, you will need to apply the law, or move out of that country. As demand for electronic money increases, global managers are divided in ways to keep up. Any regulatory notice appears to have pushed bitcoins and other electronic currencies into 2018.

[Quidat]

Cryptocurrencies themselves, they can adjust not can, because they have no single center. They will be able to regulate only their exchange for Fiat

I think that digital money cannot be regulated by the government, because the circulation of digital money is not through a running bank. so the bank is having a hard time participating in digital currency.

What digital currency are you talking about?? Are you already aware that cryptocurrency and digital currency is two different kinds of virtual currency.
I assume youre talking about cryptocurrency, since you mentioned that " the circulation didnt run through banks"
While digital currencies already has a regulation before it is released publicly, since it will still go through government approval.

[Huskarls]

Though it’s easy to see why governments would want to regulate the movement of digital currencies, the reality of doing so is much harder. A lot of wallets have no identification to them and rest on a server in a third party country. In the case of offline wallets in devices such as the Ledger Nano, they’re not connected to any network.so is it possible to regulate ?

I think this can still be overcome, considering that all the transactions in Crypto and Blockchain itself can still be tracked. this regulation itself is not about how the wallet will be, but is crypto really feasible for the public

[1993jochico]

In my own opinion Bitcoin doesnt need to be regulated by the government it just needs to be accepted by the government and they will be forced by the community in the future and theres nothing government can do when the public already speaks.

[#Paul]

I think the government can adjust the digital money. The government will introduce strict regulations for the development of digital money. Some governments only allow quality coins to operate....

[adzino]

Eventually they will have to connect to the internet if they will want to cash out their profit unless they are willing to do a p2p physical transaction. Most of the exchanges now requires you to fill the "Know Your Customer" form. This is done to keep track of your investments. Not only in exchanges, if you want to buy bitcoins directly online you will be required to submit your identification and other personal information. If such actions are not taken by the service providers, the government will not let them operate their services. That is different laws are being placed by the government in an effort to bring full regulation of crypto currencies..

[Yusuf77]

In my own opinion Bitcoin doesnt need to be regulated by the government it just needs to be accepted by the government and they will be forced by the community in the future and theres nothing government can do when the public already speaks.

of course it needs to be arranged and accepting it is not as easy as you think. the government must be able to regulate it and control it to reduce the risk of fraud or crime.

[Dylan Bargeman]

Any decentralised currency cannot be regulated by itself, but mechanism’s can be put in place to try to make it transparent, For example currencies like Ethereum and Bitcoin are completely Decentralised any Developers can just push another version on top of it, Replacing it’s Merkel Root and Genisis Hash will result in new currency. So By it’s very nature it cannot be modified once blockchain has been started. By their very nature these currencies by their very nature doesn't need to be regulated but the business involved in this technology need to be regulated and shall be accountable to the nation they belong to this will result in protecting fate of end consumer and thereby people will have more ease and trust on cryptocurrencies.

[Heidi Farrell]

They should be self-regulated. People are capable of bottom up organisation. We don’t need no Leviathan to tell us what to do. Plus, the idea is that we entrust algorithms, rather than governments.
In my opinion the only thing to regulate at the moment are not the currencies themselves, as they are automatically regulated, but the exchanges, also the ICOs that raise money and then run away with it.

[yoseph]

In my own opinion Bitcoin doesnt need to be regulated by the government it just needs to be accepted by the government and they will be forced by the community in the future and theres nothing government can do when the public already speaks.

of course it needs to be arranged and accepting it is not as easy as you think. the government must be able to regulate it and control it to reduce the risk of fraud or crime.

in this day and age, regulations is very important in the use of cryptocurrencies because without it, may people are going to use it for criminal activities such money laundering and a whole lot of crime.

[rindayle]

The government can dramatically affect the cryptocurrency market and bitcoin. The fact that now they do not work with the government and illegal, in their direction can apply measures that can greatly affect the course and capitalization of the market.

[safarabela]

I think that to regulate cryptocurrency movements will be difficult for the government to do, because cryptocurrency don't involve third parties in the exchange.

[reverseflash]

Direct regulation will be possible only if some government launches its own coin on the market, and regulation will only concern it. Indirect regulation will be possible through operations to transfer cryptocurrency to fiat. It is also possible that some operations can be tracked through KYC.

[SventraPapere]

Regulate of course can and should be.But for this, you first have to support the cryptocurrency at the state level.Create a special registration system with support for registered users.Just like business.There are companies registered with white papers that pay taxes and receive government support for employees and users.And there are illegal companies that are persecuted by the state as illegal.It's time to step out of the shadows to the next level.

[DiabolicAnt]

Only by working with crypto users in person, I don't think that there are other options how can they perform this, actually I'd say that it nearly cannot be put in reality.

[hachiman13]

Most of the digital currencies are decentralized, so you might think that there's no way for the gov to regulate it right? wrong. Since cryptocurrency has a value, a person must cash it out somehow. The government will impose laws and rules on exchanges so they can control the crypto in and out of the country. This is only one way, there are many ways for the gov to do it.

[H1N1]

Though it’s easy to see why governments would want to regulate the movement of digital currencies, the reality of doing so is much harder. A lot of wallets have no identification to them and rest on a server in a third party country. In the case of offline wallets in devices such as the Ledger Nano, they’re not connected to any network.so is it possible to regulate ?

They can regulate but only if peoples want to use selling their digital currency to fiat currency.
as long peoples using digital currency without using fiat currency, i think government cannot regulate them.

[jademaxsuy]

Though it’s easy to see why governments would want to regulate the movement of digital currencies, the reality of doing so is much harder. A lot of wallets have no identification to them and rest on a server in a third party country. In the case of offline wallets in devices such as the Ledger Nano, they’re not connected to any network.so is it possible to regulate ?

Yes, cryptocurrency could be regulated and even could be taxed by the government on that particular country. Like here in the Philippines, the cryptocurrency is being regulated through local exchange. Thus, we could not convert our fiat money using another exchange for it will be risky also in transferring money online for a payment in cryptocurrency and it is also a burden to do it for it need some credit cards for one to buy crypto outside the country. So by this local exchange one could be traced through one time KYC. This is how they regulate every member in converting fiat money to cryptocurrency.