What does Regulation really means?

[NavI_027]

It will help to protect the citizens,

But it doesn't mean that every user is 100% safe from hacking/scams. Also, if regulation will come, the real purpose of crypto which is decentralization, will be put to waste. Though, regulation may help to increase or to boost the usage of crypto in each and every country around the world. However, as I have said, regulation will bypass the decentralization which is one factor why we are using it.

Indeed, if a government put a regulation on using crypto then I might say that it is good but also "a little bad" at the same time. It is good in a sense that such act helps us to get more secured, you are right. However, for me it is no longer called decentralized since there is already in control. Our move is not monitored which kind of intimidating for me (you're right on that context as well). But the question is, which weighs heavier? If I will be asked, getting regulation is not a must because I think it will be the same. Having a regulation doesn't mean that we will now be 100% free from fraudsters, so what's the big difference of it from not having one?

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[White Christmas]

It will help to protect the citizens,

But it doesn't mean that every user is 100% safe from hacking/scams. Also, if regulation will come, the real purpose of crypto which is decentralization, will be put to waste. Though, regulation may help to increase or to boost the usage of crypto in each and every country around the world. However, as I have said, regulation will bypass the decentralization which is one factor why we are using it.

Indeed, if a government put a regulation on using crypto then I might say that it is good but also "a little bad" at the same time. It is good in a sense that such act helps us to get more secured, you are right. However, for me it is no longer called decentralized since there is already in control. Our move is not monitored which kind of intimidating for me (you're right on that context as well). But the question is, which weighs heavier? If I will be asked, getting regulation is not a must because I think it will be the same. Having a regulation doesn't mean that we will now be 100% free from fraudsters, so what's the big difference of it from not having one?

I think it is a good idea that regulation of cryptocurrency will be really implement in the whole world because of this many people will be able to patronize cryptocurrency because the government was eventually say yes on the regulation on it then the people will say that it is really secured because the government as well patronizing it, however the fact that there is someone higher that is controlling on the cryptocurrency is the fact that we are getting into. The fact that the crypto will not be decentralized because just like what you have been said there is someone who is controlled on it.

[Meowth05]

So if a cryptocurrency is regulated in a country, does that protect the citizens that are using it? or they just allow the usage of it in the country? I will lock this after I got a satisfying answer. Thank you.

It is, regulations were supposed to protect their own citizens but sometimes this wasn't enough to prevent their people out from scams and other fraudulent schemes. And if you will take a look, even if we are in the physical world regulation wasn't enough bu rather just to lessen the risk of getting involved in such schemes that would harm their people.

[abel1337]

It will help to protect the citizens,

But it doesn't mean that every user is 100% safe from hacking/scams. Also, if regulation will come, the real purpose of crypto which is decentralization, will be put to waste. Though, regulation may help to increase or to boost the usage of crypto in each and every country around the world. However, as I have said, regulation will bypass the decentralization which is one factor why we are using it.

Indeed, if a government put a regulation on using crypto then I might say that it is good but also "a little bad" at the same time. It is good in a sense that such act helps us to get more secured, you are right. However, for me it is no longer called decentralized since there is already in control. Our move is not monitored which kind of intimidating for me (you're right on that context as well). But the question is, which weighs heavier? If I will be asked, getting regulation is not a must because I think it will be the same. Having a regulation doesn't mean that we will now be 100% free from fraudsters, so what's the big difference of it from not having one?

I think it is a good idea that regulation of cryptocurrency will be really implement in the whole world because of this many people will be able to patronize cryptocurrency because the government was eventually say yes on the regulation on it then the people will say that it is really secured because the government as well patronizing it, however the fact that there is someone higher that is controlling on the cryptocurrency is the fact that we are getting into. The fact that the crypto will not be decentralized because just like what you have been said there is someone who is controlled on it.

There's a good and bad side of having cryptocurrency being regulated in every government like being patronized and publicizes worldwide will positively affect the price of the bitcoin at its current state however there's a bad side on it like it has a chance that the anonymity will be eliminated if the majority of crypto users use custodial wallets with their identification is tagged with the wallet address they are using, It may be a procedure if bitcoin is regularized.

I just like bitcoin on how it is today.

[pawanjain]

Regulation by definition itself means that a set of rules are being applied on something.
It can be taken in a positive as well as negative way. For some regulation means that the government is restricting us and applying limitations on something.
For some regulation means that the thing is approved by the government and hence is under government influence which acts like kind of a protection/authorized entity.
It all depends on how the country takes the regulation.

[ballerin and giroud]

So if a cryptocurrency is regulated in a country, does that protect the citizens that are using it? or they just allow the usage of it in the country? I will lock this after I got a satisfying answer. Thank you.

Can you imagine if you live in a country who ban cryptocurrency, will you still comfortable when using them? I guess you will not comfortable when you using them. Also when there is a country who ban bitcoin, do you expect there new user poping up? And an exchange who will allowed you to exchange crypto to money fiat and money fiat to crypto? Without those things you will leave cryptocurrency slowly because I will bet you use cryptocurrency is not for payment transaction right? More then that you have seen that cryptocurrency are investment place, and you will need an exchange that you can exchange to money fiat and otherwise. That is the function of regulation, you just need your government have accepted cryptocurrency being a traded only not just for payment system and you will be comfortable when yoh use them.

[ReiMomo]

We can't blame government in country wanted regulation. Because that is their right to protect their people from a different scheme that happened in crypto space. We can't deny the fact that most crimes are in cryptocurrency and now it still kept increasing the number of victims either company or a single person. But we are still lucky that the government had no full power to control Bitcoin.

[kryptqnick]

So if a cryptocurrency is regulated in a country, does that protect the citizens that are using it? or they just allow the usage of it in the country? I will lock this after I got a satisfying answer. Thank you.

I think there are many things that should be specified here. For one, does the regulation protect people in which ways? If one loses the private key, even if cryptos are regulated in this country nothing can be done. A scam is a tricker thing. Sometimes scammers in countries that regulate cryptos are caught, in other situations, they aren't. But I believe that sometimes they're caught even if cryptos aren't regulated (because a scam is a scam). It depends on the case, the judge, and the legislation system. Finally, regulations can be different! Some might just allow to use cryptocurrencies and specify some requirements and circumstances, others might go deeper than that. In the end, I think that the answer is 'it depends', but it's more likely that people are protected when there are regulations than when there aren't any.

[alexsandria]

We can't blame government in country wanted regulation. Because that is their right to protect their people from a different scheme that happened in crypto space. We can't deny the fact that most crimes are in cryptocurrency and now it still kept increasing the number of victims either company or a single person. But we are still lucky that the government had no full power to control Bitcoin.

Yes it is their duty to protect their citizens and men because the government just want the security of their mens but the thing is they are not foreseeing the good advantage and the good side of the cryptocurrency in which they are just seeing the bad side of it, yes it is their duty but the thing is they are not giving some chance to think about the good and positive side of bitcoin. Yes even now there are so much crime that are happening in the crypto space there are fraud that is happening and we can't deny that fact but what if they will do something to prevent this kind of problem so that it may help to regulate cryptocurrency.

[LUCKMCFLY]

~snip~

I think it is a complex issue, but if it is regulated by the country it is because obviously you want to get your good slice out of there, cryptocurrencies and bitcoin were created with the purpose that no third party had control, but the same people owned their own Money, even if they try to control, there are privacy currencies that offer anonymity, it is a way to break those prohibitions, normally people are already showing irreverent to the mandates of governments and banks.

[matchi2011]

We can't blame government in country wanted regulation. Because that is their right to protect their people from a different scheme that happened in crypto space. We can't deny the fact that most crimes are in cryptocurrency and now it still kept increasing the number of victims either company or a single person. But we are still lucky that the government had no full power to control Bitcoin.

Government wanted full control from both sides, they've wanted to make sure that this system will not overpower the current financial system of their jurisdiction and other from that they also wanted to make sure that illegal things will not harmed their people knowing the nature of this market they need to make sure that they've got power over anything that sorround crypto currency.

[ReindeerOnMe]

Thank you for your replies. I really appreciate it, to be honest I already sent some of your statements to the guy who asked me about it. He told me that I shouldn't bother but I feel responsible for what happened.