Regulation of Cryptocurrency Around the World

[Whosdaddy]

Very interesting thread
Here in Brazil, BTC is legal, but the government started to make laws and every single transation have to be declared on our tax system, every transaction

People are laughing right now because it's impossible to do that, I don´t know abou future, but I'm a little worried

It is illogical and I guess this policy was drawn up by some stupid people who don't even know the basics of crypto-currency. Unlike the case with bank accounts or credit cards, there is nothing to link any of the Bitcoin wallets with your identity. The authorities will never be able to prove that a particular Bitcoin wallet was controlled by you, unless there is a fiat linkage somewhere. I don't think that anyone in Brazil is going to follow this stupid law. And no need to worry about it.... the government is not going to imprison hundreds of thousands of people just for using crypto.

You are very much right about this, for this reason is why most government will not buy into the idea of regulating crypto or legalize it,so we just have to get this idea of regulation out of our mind and continue to use it to the best of our knowledge.

Satoshi didn’t even create the coin for government, he just created a system where people can transfer money to one another without charges or involvement of a third party that makes transaction quite expensive and quite slow. If government is to come up with any form of regulation, it will only end up coming in a centralized way because it is their coin they will be creating.

[idham29]

I think it still takes a long time to become legal throughout the world,I think it still takes a long time to become legal throughout the world,and in my country, bitcoin or cryptocurrency can be owned but may not be used as a legal payment instrument.

Of course each country's policies differ, depending on the country's needs for cryotocurrency. Countries that legalize crypto can assume that this digital finance business must be legalized, because it is the right of citizens to conduct business transactions that they want. This policy is widely applied in developed countries.
However, there are also countries that consider that the government must intervene if there is a trade that can harm its citizens, because the government does not want losses to befall those involved in trade. This policy is more in developing countries or countries that are still experiencing political and financial problems.

[Janation]

I think it still takes a long time to become legal throughout the world,I think it still takes a long time to become legal throughout the world,and in my country, bitcoin or cryptocurrency can be owned but may not be used as a legal payment instrument.

Considering that there are a lot of countries that don't want anything to do with decentralized currencies, it will really take a long time.

In our country, the government already legalized BTC but I don't think people have an interest in using them since the first problem I am seeing is the capability of a person to use it. We are a third world country and I can see that there is still a huge population of us that can't use technology well. Another thing is that the knowledge about it is so low that it can still be even called a scam. It will not only take a long time for the world to accept it but I think it will also take a while for people to recognize it.

[boyptc]

I think it still takes a long time to become legal throughout the world,I think it still takes a long time to become legal throughout the world,and in my country, bitcoin or cryptocurrency can be owned but may not be used as a legal payment instrument.

Many debates and doubts has been expressed by some countries so it will definitely take time before we see crypto declared as a legal thing worldwide.

What's good in your country is that bitcoin isn't banned unlike those countries that don't like and banned it.

[desticy]

In my opinion the development of regulation moves in extremely slow steps. Now it is even difficult to determine the direction and future results. Perhaps when the market finally becomes fully regulated, the cryptocurrency will be of a completely different kind.

[fullhdpixel]

Very interesting thread
Here in Brazil, BTC is legal, but the government started to make laws and every single transation have to be declared on our tax system, every transaction

People are laughing right now because it's impossible to do that, I don´t know abou future, but I'm a little worried

This is another path that governments will try to take to kill bitcoin, they will not make it illegal because that will rise questions about the kind of government they want to be but they will try to create so many regulations that it will be impossible for the average person to comply, but that is the weak point in their plan, they believe that this will make people abandon bitcoin but what will really happen is that the people will simply ignore their ridiculous regulations.

Regulations indeed will be the killing side if government will try to control and regulates this industry, anonymity is why investors and traders are here, they wanted to be away from the government controls, but it's also a challenge as bitcoin adoptions will be held from each side of the world then government needs to adopt and allow the system to continue from how it was been created.

of course what is expected is that the government regulates it but the decentralization system continues. because basically this system is a new breakthrough in the world of technology. I hope there are policies that bridge that problem

As it is not yet regulated but as there are some chances of crypto regulation we are going to see good government support for crypto currency, some countries have decided to make crypto currency as basic currency but some are still waiting for any action from government, I think in coming future crypto currency will be the only currency, but decentralization nature of crypto currency comes across.

One thing I need to get from experts is how government is going to achieve regulating the market and still make it remain decentralized, because it seems to that the problem they have with the cryptocurrency is not the currency itself but because of that decentralized part of it that makes transactions invisible to them and if they are to regulate it, it means they have to find a way to make transactions of users visible to them and the only way would be for them to rewrite the code which is why majority of them will try and come up with their own cryptocurrency for their citizens.

[Cherylstar86]

In my opinion the development of regulation moves in extremely slow steps. Now it is even difficult to determine the direction and future results. Perhaps when the market finally becomes fully regulated, the cryptocurrency will be of a completely different kind.

 I believe cryptocurrency will open widely nationwide, because some country has start adopting and continue resembling as a liable fund which has benefited by every users who also believe its capacity. It regulated with viable platform and shows potential to grow beyond we speculated. The market has always carry its volatilization, so we have to be aware for what maybe the possible conclusion.

[legenduim]

Very interesting thread
Here in Brazil, BTC is legal, but the government started to make laws and every single transation have to be declared on our tax system, every transaction

People are laughing right now because it's impossible to do that, I don´t know abou future, but I'm a little worried

It is an extremely difficult task to regulate cryptocurrencies. I wonder, how the government can do it if the majority of cryptos are decentralized? This is nonsense. Probably, they will offer to add more taxed for BTC and alts.

[Falgorn]

Regulation of cryptocurrency by the states is, however, too slow. In general, states legalize cryptocurrency very reluctantly, because they cannot control it. However, it will happen anyway. At the G-20 summit to be held next month in Japan, it should be proposed to speed up the legalization of cryptocurrency and the adoption of appropriate legal documents on its regulation. Perhaps soon we will wait for the regulation of ICO activities. In general, this should be very good for the development of cryptocurrency and eliminating fraud in this type of activity, but if there are no separate excesses on the part of some government agencies.

[goaldigger]

This is an indication that there are a big gap on the countries who have legalization in bitcoin and those who dont. The numbers have positive results nd we can see that there are still hope for those countries who still didnt accept cryptocurrency as their money. I see all green in the future.

[sempak]

This is an indication that there are a big gap on the countries who have legalization in bitcoin and those who dont. The numbers have positive results nd we can see that there are still hope for those countries who still didnt accept cryptocurrency as their money. I see all green in the future.

Actually regulation does not mean making bitcoin as money. but the main thing is prior recognition that bitcoin is not illegal in that country. like in my country that has now gained recognition but also does not make bitcoin as money. something like this must be done by every country so that the public is not worried

[maculeth]

in my opinion it would be more effective if the regulations were equated with all countries, because all countries access the same market and with the same crypto exchange rate. if the regulation is different, it can actually affect the exchange rate to each country's fiat due to tax issues or others.

[SvonioneFromMangoCoinz]

wow, it seems that people in Middle Eastern countries participate in the crypto market quite a lot. This is really a great opportunity for countries in Asia and the Middle East to revive the country's GDP and may have good opportunities to cooperate with many other developed countries in the world.
I like this and this is also the first major turning point for blockchain technology in particular and cryptocurrency in general.

[indrakusumaindra]

This is a clear sign of the upcoming victory of when blockchain technology and cryptocurrency would be accepted. Payment with digital currencies are surely the future y'all, stick around for a while and you would see the vision of Satoshi been materialized.

Yes its inevitable and i do believe blockchain technology will changes our world. I do think europe are very opened to development of blockchain and also big company seems to start to use blockchain technology to boost their businesses. I believe bright future for blockchain technology and so the cryptocurrency.

[lovesybitz]

Assuming that there are still lot of countries nowadays that are against with bitcoin blockchain technology, but there are also several country's too that already regulated crypto currency to their territory like Japan, Europe, China, and more, which means its proved only that it is already popular now in the entire world also.

[geegaw]

Assuming that there are still lot of countries nowadays that are against with bitcoin blockchain technology, but there are also several country's too that already regulated crypto currency to their territory like Japan, Europe, China, and more, which means its proved only that it is already popular now in the entire world also.

Well, many countries still resist, only a few countries regulate and accept crypto but their rules are still very rudimentary, these regulations seem to mean only that the government is accepting crypto, taxes will be the next thing the government will provide, except for these problems, I don't see too many good regulations and bring safety to crypto users. So the popularity of crypto is happening, but we will take a long time to see the complete legal rules for crypto, and these regulations need to balance the benefits between us and the government, otherwise, many other problems will come

[2chase]

 A lot amount of time can still pass to this time when cryptocurrencies and Bitcoin will be accepted as the main reserve currency of the world on a par with gold. And i think that the seeming simplicity of this can be completely damaged out by national peculiarities of each individual state.

[South Park]

Regulation of cryptocurrency by the states is, however, too slow. In general, states legalize cryptocurrency very reluctantly, because they cannot control it. However, it will happen anyway. At the G-20 summit to be held next month in Japan, it should be proposed to speed up the legalization of cryptocurrency and the adoption of appropriate legal documents on its regulation. Perhaps soon we will wait for the regulation of ICO activities. In general, this should be very good for the development of cryptocurrency and eliminating fraud in this type of activity, but if there are no separate excesses on the part of some government agencies.

They do not really have no other choice, they know they cannot destroy it because I am sure they have studied that possibility and they find out it is simply impossible, they could try to regulate cryptocurrencies to the point they are impossible to use but people will simply avoid complying to the government, the best plan of action they have is to eventually accept cryptocurrencies but to release their own and try to deceive people to believe that their crypto is as good or even better.

[7788bitcoin]

It would not take  long time before cryptocurrencies are finally legalized in the world. All we need to do is to have some patience and wait for such moment. Many countries are now opening their doors to the blockchain technology and cryptocurrencies. in no time we shall be able to use cryptocurrencies to make transaction. I am very optimistic about this.

Even without regulations there is no restrictions to make transaction with bitcoin, the regulation will come if you are running a business relating to bitcoin and other currencies, some countries are against the use of bitcoin and some does not have any clear regulation on what to do with the market, but in a few years time, these things will change and there will be a clear regulation from major countries regarding bitcoin which will change the face of the market by a big margin.

[arifteguhr]

Assuming that there are still lot of countries nowadays that are against with bitcoin blockchain technology, but there are also several country's too that already regulated crypto currency to their territory like Japan, Europe, China, and more, which means its proved only that it is already popular now in the entire world also.

Already many countries have actually made a decision about cryptocurrency, we have rarely heard the news exposed but it is true that now many countries have taken the decision to have a cryptocurrency.