Regulations for crypto currencies

[UDONNA]

Regulatory issues for cryptocurrency have actually been around for a long time.  In fact, it was several years ago.  But it seems, in the past year or so, it has become a serious topic of discussion in several countries.  And it seems, some countries will soon implement it.  What I personally think is, if true, many countries start implementing regulations for crypto currency, will this change the nature of crypto, namely decentralization to not being fully decentralized?  What do your friends think here?  Please share, hopefully this can add insight for all of us 😊🙏

Yeah many countries are trying to regulate crypto. But don't be fooled, it's not "to protect the users from scams", it's mainly to see how they can extract as much tax as possible from crypto holders

No matter how unpleasant it is for all crypto-investors, control and management of all financial flows is one of the main functions of each state. The volume of cryptocurrency transactions is increasing every year, which forces governments to monitor them more closely. I still hope this is done for both fraud protection and tax control purposes)
" C'est la vie) "

[RealMalatesta]

No matter how unpleasant it is for all crypto-investors, control and management of all financial flows is one of the main functions of each state. The volume of cryptocurrency transactions is increasing every year, which forces governments to monitor them more closely. I still hope this is done for both fraud protection and tax control purposes)
" C'est la vie) "

That could be true and yes if the governments banned it then the price would fall and everything would be a lot harder. However the good thing about bitcoin (and all crypto) is the fact that we could literally do whatever we want without worrying about what the government says or thinks.

It means the traders and investors would end up losing a lot of money but that doesn't mean that we should be forced to stop neither. I mean even if every single nations bans it, we could still use it and they would have no way to stop it. Sure the price would plummet incredibly, probably be few hundred dollars at most if they all decide to ban it together, but we know it will not be banned by everyone.

[Woodie]

The issue with cryptocurrencies is that people are believing in them more now than ever  before and the idea of talking about them more now is to get legal clarity about them and to know the safety of their investments should they decide to invest  much more. And OP is right regulatory talk as always been there but its now that more countries are now giving these cryptos the recognition they deserve, and btw not all countries have been welcoming to this topic so its just fair that we are on the look out.

[Ziskinberg]

It's definitely going to snatch away the freedom of keeping your transactions to yourself while you're bound to show everything in the books once regulations are implemented, so for the Governments to start levying taxes. Just like israt1@ said, complete decentralization can never be achieved as it wasn't in full even before crypto was in talks. Though things get centralized, it's in the good for crypto because without the country-wide support for crypto, we won't be able to achieve the goals that was set by Satoshi, to make crypto available and easy to use as well as friendly for anyone in this world.

Although we can't be hopeless seeing the market will totally consider as a form of currency but somehow, the situation is changing a lot especially when the government will become strongly attached to the crypto world. Now that they have the interest in regulating the market and tracking our transactions, the more chances of losing the anonymity feature that crypto has.
Like those countries who legalize Bitcoin now, let see what is going to happen with them. For now, we can't just say bad to it unless we are witnessing bad things happen to them first as this will possibly going to happen in the other country as well.

[RussianEnglishTranslation]

Regulatory issues for cryptocurrency have actually been around for a long time.  In fact, it was several years ago.  But it seems, in the past year or so, it has become a serious topic of discussion in several countries.  And it seems, some countries will soon implement it.  What I personally think is, if true, many countries start implementing regulations for crypto currency, will this change the nature of crypto, namely decentralization to not being fully decentralized?  What do your friends think here?  Please share, hopefully this can add insight for all of us 😊🙏

You can avoid regulation, and tax on crypto if you trade on decentralized exchanges like Ref Finance then swap your coins for stablecoins like USDC on a lending platform like Burrow. Eventually stablecoins like USDC will be accepted by all retailers and will work the same as fiat on all mastercard and visa cards. If you take a loan you didn't sell anything, so there was not trade and there is no tax.

[jeungo]

The majority of banks and world economies will keep their neutrality, recognize this as a form of resource, but will not provide full support, this is obvious. Why lose the money-making cow leash, the printing press. World banks will start making their digital money, transferring it to the area of virtual money, moving away from a real printing press to virtual emission.

[bonyaserg]

For me personally, it is not yet entirely clear what rules are needed for the entire cryptocurrency. But at first glance, we can say that the rules are definitely needed, since the well-being of all cryptocurrency holders depends on it. And at the moment, each country already has its own laws on the use of cryptocurrency. I believe that you just need to be aware of all the events and not miss the news about the further development of the cryptoindustry.

[velive08]

for countries that have legalized Crypto of course they already have regulations about it, for example El Salvador, they are the first country to legalize crypto in their country and of course government regulations on crypto have been applied to their citizens.
I think countries that want to publish regulations on crypto should be able to adopt from the country of El Salvador

[matjas]

Regulatory issues for cryptocurrency have actually been around for a long time.  In fact, it was several years ago.  But it seems, in the past year or so, it has become a serious topic of discussion in several countries.  And it seems, some countries will soon implement it.  What I personally think is, if true, many countries start implementing regulations for crypto currency, will this change the nature of crypto, namely decentralization to not being fully decentralized?  What do your friends think here?  Please share, hopefully this can add insight for all of us 😊🙏

Crypto has been a threat for some countries for some time now and will continue to be. We have to know that USA will do anything to protect their dollar, which is still a major currency when it comes to trading around the world. They certainly don’t want to lose their monopoly to any other currency. Same goes with China and their market share, I don’t think we will ever see acceptance from most powerful countries. 

[Zamoh]

Tighter regulation doesn't matter. If desired, the cryptocurrency can be completely anonymous and decentralized, it is technically possible and nothing can stop it. As well as the existence of the darknet, there will always be a decentralized cryptocurrency. Nothing prevents you from making P2P transactions. The regulation will not in any way affect the algorithms of bitcoin, its performance and the ability to conduct transactions.
Attempts at regulation will lead nowhere globally. Those who use cryptocurrency for bad purposes (drugs, weapons, etc.) will definitely not go through KYC on Binance or other platforms. The restriction includes ordinary people who are partly not very knowledgeable about cryptocurrencies and possible operations with them.
No regulator will be able to completely take control of this virtual cryptocurrency world, and this is very pleasant.
I think the crypto community slightly overestimates the importance and danger of regulators, they will not be able to do anything. I am deeply convinced that now in the crypto world there are complete decentralized analogs for centralized services, and there is no need to send your data to someone. It is enough to have access to the wallet and maximum email.
Attempts at regulation are nothing more than speculation.
Residents of China or the United States also do not interfere with carrying out operations with cryptocurrencies. And the fact that this is considered a violation of the legislation of these states does not mean that this legislation does not violate your rights. You should always remember that your interests and freedoms are much more valuable than social and legislative ones.

[Sled]

Regulatory issues for cryptocurrency have actually been around for a long time.  In fact, it was several years ago.  But it seems, in the past year or so, it has become a serious topic of discussion in several countries.  And it seems, some countries will soon implement it.  What I personally think is, if true, many countries start implementing regulations for crypto currency, will this change the nature of crypto, namely decentralization to not being fully decentralized?  What do your friends think here?  Please share, hopefully this can add insight for all of us 😊🙏

Crypto has been a threat for some countries for some time now and will continue to be. We have to know that USA will do anything to protect their dollar, which is still a major currency when it comes to trading around the world. They certainly don’t want to lose their monopoly to any other currency. Same goes with China and their market share, I don’t think we will ever see acceptance from most powerful countries. 

Perhaps, we don't need them either. Crypto will grow without their support and in fact, we've been in the situation before that nobody even to recognized the benefits we got from Bitcoin. But among those countries you have mentioned, only China ban crypto while the others are welcoming crypto in their place. It can happen that they could never just ignore Bitcoin forever and sooner or later, China will look it back and accept crypto again.

[Devifajarina]

Regulatory issues for cryptocurrency have actually been around for a long time.  In fact, it was several years ago.  But it seems, in the past year or so, it has become a serious topic of discussion in several countries.  And it seems, some countries will soon implement it.  What I personally think is, if true, many countries start implementing regulations for crypto currency, will this change the nature of crypto, namely decentralization to not being fully decentralized?  What do your friends think here?  Please share, hopefully this can add insight for all of us 😊🙏

Regulation does not limit decentralization, it's just that regulations regulate some that need to be added, on the one hand regulation provides a sense of security to invest, on the other hand the more different regulations, the harder it is for crypto to develop, considering that other countries will apply different regulations, and this will limit crypto in making non-binding decisions, crypto attitudes will definitely change if there are different regulations.

[aseprebel]

Regulatory issues for cryptocurrency have actually been around for a long time.  In fact, it was several years ago.  But it seems, in the past year or so, it has become a serious topic of discussion in several countries.  And it seems, some countries will soon implement it.  What I personally think is, if true, many countries start implementing regulations for crypto currency, will this change the nature of crypto, namely decentralization to not being fully decentralized?  What do your friends think here?  Please share, hopefully this can add insight for all of us 😊🙏

Regulation does not limit decentralization, it's just that regulations regulate some that need to be added, on the one hand regulation provides a sense of security to invest, on the other hand the more different regulations, the harder it is for crypto to develop, considering that other countries will apply different regulations, and this will limit crypto in making non-binding decisions, crypto attitudes will definitely change if there are different regulations.

in my opinion a cryptocurrency was built with the primary purpose of being decentralized and distributed, two very important qualities that could make or break crypto regulation. by being decentralized, Bitcoin doesn’t have a single controlling entity. The control is shared among several independent entities all over the world, making it nearly impossible for a single entity to wrangle full control over the network and manipulate it as they please.

[Ulven]

I don't think cryptocurrency regulation by governments will centralize it because crypto is built for decentralization, and it is ultimately difficult to regulate decentralization. It is difficult for governments to understand how it works, and so they do not know what they are doing. People who put in effort into understanding the technology will succeed in regulating it, but I don't think government regulation will solve this problem.!!!

This does not mean that most countries will not succeed in issuing a regulation for cryptocurrency, but rather they can build an organization that contributes to the growth of decentralization!!!

Cryptocurrency is a new kind of currency. Countries should build new organizations that contribute to the growth of cryptocurrency, and start with those things that can be put into technology. The leaders of those organizations would make efforts and regulations and policies for cryptocurrency and at the same time try to support local economy and people, building it up from the bottom. And if they do this correctly, then countries will succeed in regulating cryptocurrencies.!!

[Naficopa]

for countries that have legalized Crypto of course they already have regulations about it, for example El Salvador, they are the first country to legalize crypto in their country and of course government regulations on crypto have been applied to their citizens.
I think countries that want to publish regulations on crypto should be able to adopt from the country of El Salvador

In my opinion, El Salvador is not the best example. I don't know if you watched the situation in this country after the legalization of cryptocurrencies .. Unfortunately, there was a lot of controversy there. There are many suspicions that the government of this country has used the legalization of cryptocurrencies to defraud money.
The regulations will be introduced gradually, but I think it will continue for many years to come.

[UDONNA]

No matter how unpleasant it is for all crypto-investors, control and management of all financial flows is one of the main functions of each state. The volume of cryptocurrency transactions is increasing every year, which forces governments to monitor them more closely. I still hope this is done for both fraud protection and tax control purposes)
" C'est la vie) "

That could be true and yes if the governments banned it then the price would fall and everything would be a lot harder. However the good thing about bitcoin (and all crypto) is the fact that we could literally do whatever we want without worrying about what the government says or thinks.

It means the traders and investors would end up losing a lot of money but that doesn't mean that we should be forced to stop neither. I mean even if every single nations bans it, we could still use it and they would have no way to stop it. Sure the price would plummet incredibly, probably be few hundred dollars at most if they all decide to ban it together, but we know it will not be banned by everyone.

Currently, we can do whatever we want with cryptocurrencies until the very moment when we want to transfer our crypto capital to fiat. Then we immediately fall under the strict control of the state machine.

[doomloop]

In my opinion, El Salvador is not the best example. I don't know if you watched the situation in this country after the legalization of cryptocurrencies .. Unfortunately, there was a lot of controversy there. There are many suspicions that the government of this country has used the legalization of cryptocurrencies to defraud money.
The regulations will be introduced gradually, but I think it will continue for many years to come.

I get that there will be a lot of people coming after bitcoin and crypto, but as long as we get it legalized then I do not care about the infighting of a country. That alone itself is not a good enough reason to attack crypto, it is a good reason to attack the president but nothing to do with crypto.

So by logic, if the other side saying "president is using crypto to defraud people" then simply elect someone else or impeach the one you have right now, that way crypto can stay, it will be there forever but the bad person will leave. I do not know if their president is actually doing it or not, all I am saying is that president defrauding using crypto is not a bad thing about crypto, if not for crypto then they could have done it with fiat just like everyone else. Our nations president defrauded the nation for hundreds of billions of dollars, never used crypto at all, same logic.

[Hamphser]

No matter how unpleasant it is for all crypto-investors, control and management of all financial flows is one of the main functions of each state. The volume of cryptocurrency transactions is increasing every year, which forces governments to monitor them more closely. I still hope this is done for both fraud protection and tax control purposes)
" C'est la vie) "

That could be true and yes if the governments banned it then the price would fall and everything would be a lot harder. However the good thing about bitcoin (and all crypto) is the fact that we could literally do whatever we want without worrying about what the government says or thinks.

It means the traders and investors would end up losing a lot of money but that doesn't mean that we should be forced to stop neither. I mean even if every single nations bans it, we could still use it and they would have no way to stop it. Sure the price would plummet incredibly, probably be few hundred dollars at most if they all decide to ban it together, but we know it will not be banned by everyone.

Currently, we can do whatever we want with cryptocurrencies until the very moment when we want to transfer our crypto capital to fiat. Then we immediately fall under the strict control of the state machine.

And thats the only chance on where government do really able to get in touched with crypto market is on to regulate those platforms because people would tend up to end with converting to fiat which its just
really a very common end of the line.

So as we do go further on upcoming years to come then expect for something like this to happen because this would be the only way that they could get taxes or regulate people
who are involved on it.

Which we do see on today that exchangers are slowly becoming centralized and asking for some KYC into its users.

[Dr.Osh]

Regulatory issues for cryptocurrency have actually been around for a long time.  In fact, it was several years ago.  But it seems, in the past year or so, it has become a serious topic of discussion in several countries.  And it seems, some countries will soon implement it.  What I personally think is, if true, many countries start implementing regulations for crypto currency, will this change the nature of crypto, namely decentralization to not being fully decentralized?  What do your friends think here?  Please share, hopefully this can add insight for all of us 😊🙏

it becomes a serious conversation because nowadays, cryptocurrencies are much more developed than the last few years. it's a natural thing considering that crypto developments are very large in society. the creation of new regulations can make people who are interested in cryptocurrencies to be careful and selective in choosing crypto, because some of these regulations are likely to discuss the risks of cryptocurrencies.
regarding decentralization or not, it depends on the type of cryptocurrency involved, because there will be crypto that will still have a decentralized and centralized system. it's just that, specifically for bitcoin, I think it will forever be decentralized.

[sumant]

Yes regulations should come on crypto, it will increase some good things in cryptocurrency world. People who always want to invest in crypto don't get fear when government making rules on crypto. We know there will no contol of anybody so government can accept Bitcoin or other crypto as payment mode. Matter like crypto world's governments should make a single guidine on how to use or how we control.