Crypto regulations still have a chance?

[Refrumatrix]

Many people belief that the only solution crypto space needed is regulations, what will this solve? The biggest crypto problem is scammers, how can regulations cure this disease? Because regulations can only work on centralized exchanges and projects, what do you think? Drop your thoughts and let's hear you out?

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[nancy]

Are you sure that the biggest crypto problem is a scammers? For total newbies - maybe. But actually if we are talking about big players regulators are much more important. Some merchants not ready to accept crypto in some countires because its illigal or, at least, not allowed

[semobo]

Many people belief that the only solution crypto space needed is regulations, what will this solve? The biggest crypto problem is scammers, how can regulations cure this disease? Because regulations can only work on centralized exchanges and projects, what do you think? Drop your thoughts and let's hear you out?

If you think regulation can help you from scammers then why all these bank frauds are happening, fiat money is completely under the control of every government right?

So regulation is to make you to pay more taxes and that is the only thing every government want from their citizens.

[thesmallgod]

Maybe you need to read more about crypto regulations and cryptocurrencies generally. It is not only scammers that have a negative impact on crypto and furthermore you made mention of centralized system as the output of regulated system which is true but you still do not know that in a centralized system, scammer identity can be traced which is the reason why centralized system require KYC documents especially when you want to move a large amount of crypto asset.

[Akiko]

Many people belief that the only solution crypto space needed is regulations, what will this solve? The biggest crypto problem is scammers, how can regulations cure this disease? Because regulations can only work on centralized exchanges and projects, what do you think? Drop your thoughts and let's hear you out?

Even the exchange is regulated there are still many scammers and hackers that will find a way to grab peoples money.

The regulation of exchange will not give any help to user's unless the exchange can freeze balance the day it is sended to other address its hard to know if who's account will get hacked the day before the funds transfer to other wallet address so  the same results  expected to happen even its regulated or its not.

[acdc]

think the biggest barrier of cryptocurrencies is the government's opposition to the cryptocurrency market. Governments around the world don't like a currency they can't handle so they don't like bitcoin and cryptocurrencies.
Imagine that one day the president of the United States or the president of China said that their country would support bitcoin, certain that the price of bitcoin would rise ever higher.

[ije07]

as we know that crypto regulations will not solve problems in the crypto industry, on the one hand scamers will never stop deceiving their victims, on the other hand some countries do not approve the presence of the crypto industry for several reasons, especially for negative actions such as money laundering, transactions illicit goods etc.

[avikz]

Many people belief that the only solution crypto space needed is regulations, what will this solve? The biggest crypto problem is scammers, how can regulations cure this disease? Because regulations can only work on centralized exchanges and projects, what do you think? Drop your thoughts and let's hear you out?

I personally believe that favorable crypto regulation will do good to the market most certainly. Scammers are present even in highly regulated markets so it is impossible to get rid of them. However, with proper regulation and legal framework around it, we will be able to reduce the number of scams for sure. But the use of regulation is not only to stop scammers. There are huge benefits for crypto market if we regulate it,

1. Legal merchants will be interested in accepting bitcoin as a payment method
2. People will be able to promote bitcoin openly to the mass
3. It will pave ways towards innovation
4. Service class people will be interested in investing if a tax framework is provided
5. Banks will stop spreading fake news about cryptocurrency
6. It's legal

Now along with regulation, if LN is adopted by mass it would definitely give Visa and Mastercard a tough competition.

[bittraffic]

Many countries today are accepting Bitcoin already, just recently Canada approved BTC also. The more countries and banks accepting Bitcoin will open up for more altcoins like ETH to be accepted as well. There are projects that are already accepted by companies like Samsung phones developing wallets for them. It won't be long we may never see the price dropping anymore especially if all these are already on mainstream media.

[HunterUnchained]

I still strongly believe regulations in this industry are the way forward, seeing how the crypto industry has been abused, there is every need to implement regulations to forestall some of the great atrocities that have been committed in this space. Unfortunately, everyone is too busy trying to take advantage of the lack of regulations and this means, it might take a miracle to truly get the regulations needed to this industry.

[kingzpro]

The only solution is a global crypto authority something like United Nations or some of its sub agencies and the scope of this agency should be to make rules and policies about crypto at a global scale and any new project looking to raise funds should also apply to them where they after analysing each and every thing and interviewing the team register the project and then allow them to raise funds and keep monitoring the proje t at every step similarly there should also be a section related to bounty campaigns and disputes management.

[marks1976]

Many people belief that the only solution crypto space needed is regulations, what will this solve? The biggest crypto problem is scammers, how can regulations cure this disease? Because regulations can only work on centralized exchanges and projects, what do you think? Drop your thoughts and let's hear you out?

It will not solve all of the problems but it will be giving a limitation for the crypto users.

As long as everyone DYOR before try to join or use any service and the scammers can be avoided easily. Regulation just try to limit the room for scammers but it will not actually prevent them.

[kakamrul]

The most likely scenario is that Bitcoin won’t be the sole global currency in the new world order. Instead, other currencies will continue to exist, including inflationary fiat currencies that encourage consumers to spend and lenders to lend. Bitcoin has proven itself as an effective store of value and could operate alongside markets like gold or as a go-between for global transactions or currency exchanges. so lets see...

[justdimin]

The biggest crypto problem is scammers, how can regulations cure this disease? Because regulations can only work on centralized exchanges and projects, what do you think? Drop your thoughts and let's hear you out?

Fiats got all the regulations which made scammers to be eradicated?
Paypal got dispute facilities under heavy regulation which made scammers not to be using paypal?

I mean regulation will not guarantee to have a scam free environment. But only when common people are careful enough, scammers may not find enough opportunity which will enforce them to switch their business from scamming. Other than this, I am not seeing any kind of regulation will stop scammers completely. Because, scammers will find a new method to bypass the regulation to scam us.

Having a review/reputation tracking system like this forum may help us to avoid scammers even in decentralized system. There are lots of usual practices and step by step procedures are available for staying safer in decentralized environment. So, regulation alone is not a solution for having a scam free crypto life.

[Javi_Anibarro]

[...]

Another thing to point out, the regulation only acts as a sign for people to know what they are dealing with and act like a big filter. The scammer will always be there no matter what will you do because it comes from human greed. Regulation might be needed but not for the crypto but for the platform that uses or planning to use crypto itself. It is needed to prevent a shady action like stealing customers ' data and many more.
So what we are really needed right now is not a complete regulation on cryptocurrency but a simple way and an easy way to operate cryptocurrency. Nobody is going to use cryptocurrency daily if it is too complex and hard to do.

[FanEagle]

There are plenty of chances for cryptos to be regulated because we are not having sufficient infrastructure to be operating as a purely decentralized system. When we are depending on centralized things, governments will definitely interfere in the name of regulation. At the same time, those regulation will not be happening for the reason of eliminating scams from this space but government will do for their own reasons like regulating money laundering and other related things.

When crypto space is having on its own infrastructure for serving people end to end then we can ignore any government regulation. It means we can simply lead a life based on crypto without need to get verified for the reason of availing any regulated services. But it will take time but that is most expected stage this crypto space to move into.

[batang_bitcoin]

Many people belief that the only solution crypto space needed is regulations, what will this solve?

If regulation is what we need, that breaks the purpose of crypto as being used to be free from the government and centralization. Although, there is truth in it so that we can get more support from the government and make the crypto space stronger, there should be a regulation which provides and guarantees the support of the entire government.

The biggest crypto problem is scammers, how can regulations cure this disease? Because regulations can only work on centralized exchanges and projects, what do you think? Drop your thoughts and let's hear you out?

This problem also exists in real life not just to crypto. If the victims can find some real and genuine evidence of the scammers, they can report it to the authorities and file a case against them.

[RabbiTANK]

I belief regulations can control scams in crypto space to an extent, might be impossible to eradicate it completely but it will be an effective move, hoping for regulations is a good thing, scams is making crypto looks bad generally, not helping one bit

[nicecrypto]

Many people belief that the only solution crypto space needed is regulations, what will this solve? The biggest crypto problem is scammers, how can regulations cure this disease? Because regulations can only work on centralized exchanges and projects, what do you think? Drop your thoughts and let's hear you out?

like you opined, regulation is a necessity that must happen. It will not totally eradicated frauds but it can control the excesses. Exchanges are slogging towards it because you can't withdraw a higher amount of btw without a kyc. The fact that the industry is not fully regulated is as a result of the innate decentralized nature of bitcoin. But if that can't be regulated, perhaps projects and exchanges can. Do you know why TON has stopped development?

And I also agree with the second post, regulations may not completely wipe of scammers in the space but will go along way to reduce it, it is very hard to trust any project now because of fear of being scammed, the market is too open and free hence the reason for so many fake project around looking for their prey, I think regulation is very necessary in other to sanitize the market.

[Ozero]

Many people belief that the only solution crypto space needed is regulations, what will this solve? The biggest crypto problem is scammers, how can regulations cure this disease? Because regulations can only work on centralized exchanges and projects, what do you think? Drop your thoughts and let's hear you out?

Cryptocurrency fraud is really one of the biggest problems that prevents its effective development. However, not only exchanges suffer from scammers. First of all, these are new ICO projects. This type of activity is in decline precisely because of fraud among ICO teams. If the organizational regulation of this type of activity by the states is established, then this will largely solve the problems of ICO and will contribute to their revival. And this is one of the main ways to improve cryptocurrency.