Will bitcoin ever get regulated

[Tellek Garing]

This topic have taken the center stage of my thought we have seen how countries around the world are gradually opening the economy to adopt bitcoin and as a result a lot of government policies are already underway to develop a framework that allow regulation of the bitcoin ecosystem which have made me to wonder on this topic. Can a decentralized currency like bitcoin ever get regulated?

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[Charles-Tim]

Can a decentralized currency like bitcoin ever get regulated?

No. Bitcoin is decentralized and censorship resistant. Only exchanges and centralized services will be regulated and this is not new.

[GbitG]

This topic have taken the center stage of my thought we have seen how countries around the world are gradually opening the economy to adopt bitcoin and as a result a lot of government policies are already underway to develop a framework that allow regulation of the bitcoin ecosystem which have made me to wonder on this topic. Can a decentralized currency like bitcoin ever get regulated?

Peoples in power never like this, and they never allow to be regulated because these culprits hate all decentralized things. Just because of this now they are tightening their grip on centralized exchanges with regulations and bringing KYC policy very stick.

[BlackHatCoiner]

Regulation isn't indissolubly linked to centralization. There'll probably be more laws introduced about bitcoin which will regulate it. For instance, they may make it disgustingly difficult to avoid KYC or illegal use bitcoin without reporting it.

In such scenario, it will be fully regulated, but still, there'll be incentivized miners. There will be updates if the community comes into an agreement. The currency wouldn't be controlled by entities (e.g., exchanges) or governments, but its usage would require government's approval.

To answer the question in the title, I don't believe it'll ever become so regulated that we'll miss its principles. And that's all I can say.

[Upgrade00]

Can a decentralized currency like bitcoin ever get regulated?

No, or at least, not directly. The Bitcoin network is designed to be resistant to regulation or centralization. And as long as the protocol holds, it cannot be regulated.

Indirectly? Yes, Bitcoin can be regulated to some degree. While the network is decentralized, it can be operated through centralized channels which can serve as a means for the government to control it, the most common example of this is centralized exchanges. They give users the feeling of convenience and control, but actually take away the freedom and anonymity of its users.

Who holds the keys, owns the coins; and with centralized exchanges, they own the keys to the coins stored there and allow users access it based on their discretion.

[shield132]

Can a decentralized currency like bitcoin ever get regulated?

No. Bitcoin is decentralized and censorship resistant. Only exchanges and centralized services will be regulated and this is not new.

Directly, bitcoin can't be regulated, yeah, I agree with you cause in case of fiat the government can even change the currency, print more or even withdraw from the circulation but in case of Bitcoin that's impossible to do. But... When the exchanges and bitcoin related services are regulated, this at some point means that bitcoin is regulated too but the influence and power is lower there compared to fiat. As time goes, more and more bitcoin exchanges are regulated and more often you have to submit KYC documents (including exchanges, crypto casinos and so on). Also, mining has turned into centralized business, there are just some giants that mine most of the coins + more and more transactions are easily traced as time goes. This only just means that bitcoin is getting more and more "regulated".

[carlfebz2]

This topic have taken the center stage of my thought we have seen how countries around the world are gradually opening the economy to adopt bitcoin and as a result a lot of government policies are already underway to develop a framework that allow regulation of the bitcoin ecosystem which have made me to wonder on this topic. Can a decentralized currency like bitcoin ever get regulated?

Regulated on the sense on where services would be adopted which do acts as a bridge between bitcoin transactions but talking literally to be regulated or controlled then its impossible.

When they do look upon about taxation then this is something possible because they could really target out those services/platforms  whom be dealing with crypto but not talking on direct ones.

Its good to see some adoption increasing but we dont actually need that on general sense.

[bekti3]

and the answer is very clear, no and never will.
because indeed bitcoin will still be bitcoin and will not be able to change that.
Its decentralized nature will never disappear at any time and will not be managed by anyone.
they will still be bitcoin as they are today whether it's tomorrow, next week even until bitcoin is very expensive, everything will stay like this.

[DarkDays]

Can a decentralized currency like bitcoin ever get regulated?

No. Bitcoin is decentralized and censorship resistant. Only exchanges and centralized services will be regulated and this is not new.

I think it depends on the context of regulation. As far as the blockchain itself goes, that's a straight flat NO. Can't reverse something that was purposely created to escape the same sick centralisation cycle. 

On the other hand, any monetary value derived from possessing Bitcoin or using the system can be levied in one way or another.

[isaac_clarke22]

This topic have taken the center stage of my thought we have seen how countries around the world are gradually opening the economy to adopt bitcoin and as a result a lot of government policies are already underway to develop a framework that allow regulation of the bitcoin ecosystem which have made me to wonder on this topic. Can a decentralized currency like bitcoin ever get regulated?

Talking about Bitcoin itself, as what others mentioned above, hell no. You already mentioned "decentralized" there, buddy.
Using custodial wallets that allow people to receive and send Bitcoin? Yes, in fact KYC is a lot stricter on my own custodial wallet whenever someone is freshly registered.

[Maidak]

In fact, Bitcoin is more transparent than Fiat Money. Bitcoin's transparent ledger makes it possible to trace all transactions easily. If the government wants to trace the wallet of a specific individual, they can do so without hindrance. Various coin mixing services and now under KYC and AML law, meaning the government can trace you if it wants even if you use mixing service. Technically it is censorship resistant but practically I don't know how effective is it.

[Myleschetty]

Can a decentralized currency like bitcoin ever get regulated?

Capital No.

This topic have taken the center stage of my thought we have seen how countries around the world are gradually opening the economy to adopt bitcoin and as a result a lot of government policies are already underway to develop a framework that allow regulation of the bitcoin ecosystem which have made me to wonder on this topic.

You shouldn't expect something less from the government than a centralization method operation and they now want to support Bitcoin because they see that it is impossible for them to stop its existence. However, they can only regulate crypto exchange sites not Bitcoin and that will be also CEX exchange cause they cant regulate fully DEX exchange.

[stadus]

It will be regulated but not directly because only a 3rd party financial institution which is centralized can be regulated, when we see regulation, that means the essence of decentralization will not be completely enjoyed because once we use it through exchanges and other similar institutions, we have to comply with the basic requirement like the banks are imposing which is the KYC.

[hatshepsut93]

Only exchanges and centralized services will be regulated and this is not new.

That's one big "only", because overwhelming majority of bitcoiners use those services. Without centralized exchanges Bitcoin wouldn't reach even close to the current price, and adoption would not be as high without convenient and safer buying and selling.

Government doesn't really care if some crypto geeks are sending each other $500 in BTC without KYC, as long as they control the large flows of money, they will consider it regulated enough.

[coinfinger]

In fact, Bitcoin is more transparent than Fiat Money. Bitcoin's transparent ledger makes it possible to trace all transactions easily. If the government wants to trace the wallet of a specific individual, they can do so without hindrance. Various coin mixing services and now under KYC and AML law, meaning the government can trace you if it wants even if you use mixing service. Technically it is censorship resistant but practically I don't know how effective is it.

We all know about this but as mentioned already many times authorities sitting in governments and having controlled things are not feel better with this way so just because of this trying to control indirectly they feel it's not possible to do this all directly. KYC is also just part of this all because they need all updates about peoples involved in this all.

Personally I am not worried about bitcoin regulation because government definitely will do it in one way or other. When we prepared to face any such kind of situation then I guess there will be no problem at all on having bitcoin regulations at any near future.

[Fortify]

This topic have taken the center stage of my thought we have seen how countries around the world are gradually opening the economy to adopt bitcoin and as a result a lot of government policies are already underway to develop a framework that allow regulation of the bitcoin ecosystem which have made me to wonder on this topic. Can a decentralized currency like bitcoin ever get regulated?

It is, has and will be regulated - there is no doubt about it. People who sit on cryptocurrency as a large investment inevitably cash it out as the price goes up in order to meet their living expenses or simply put it into other assets such as property. When you make that transaction and large sums of money suddenly appear in your bank account, you better be sure that your financial transactions and traceability are all in order because the tax man will come knocking very shortly. Banks receive the money and have to comply with local regulators along with anti-money laundering regulations which means you need to explain where that cash is coming from in most countries. It has only got stricter over time as governments see the vast amount of money that is slipping through their fingers and new taxes are often being introduced all around the world to target crypto and similar forms  of tradeable items.

[maju69]

Which government do you mean? maybe certain governments just want to adopt bitcoin but not necessarily they can control it, because it can't be an antonym for the government that has prioritized centralization. Two different and contradictory points of view cannot be combined, unless both are given a place according to their respective concepts, namely bitcoin with its decentralization and centralized government that accepts bitcoin's existence.

[Yamifoud]

This topic have taken the center stage of my thought we have seen how countries around the world are gradually opening the economy to adopt bitcoin and as a result a lot of government policies are already underway to develop a framework that allow regulation of the bitcoin ecosystem which have made me to wonder on this topic. Can a decentralized currency like bitcoin ever get regulated?

If the purpose is necessary and a must, I think it should be regulated but if not, then it must leave like that (decentralized) forever. I know that some merchants may have wanted to control it, they wanted assurance that they never lose because of the volatility of the market, and regulating it helps to have a less volatile. This can be good, it is not a problem but somehow, due to the greediness of many, that likely it becomes purely manipulated and that certainly has no difference then to fiat money in which crypto holders don't want it to happen, ever.

[Charles-Tim]

There'll probably be more laws introduced about bitcoin which will regulate it. For instance, they may make it disgustingly difficult to avoid KYC or illegal use bitcoin without reporting it.

If the government can completely cease decentralized exchanges and most importantly the P2P means of exchanging. The effective tools of the governments are the centralized exchanges, centralized wallets and other centralized crypto service providers. For people that are privacy concerned and do not joke with privacy and anonymity, the governments will find it hard.

[GeorgeJohn]

It's very difficult before you can see decentralized platform been regulated, which is obvious and understandable that bitcoin is decentralized currency, and it can't be manipulate or control in any means or factor, so therefore it's only centralized platforms own by government or individuals can be regulated as per say, using fiat currency as means of illustration, since each country have their own fiat and centralized platforms that form a committee that controls and deliberates on its value via economy, it's their right to regulate to any kind of their test or measure, so in bitcoin their is no organization that superhead the regulation of bitcoin. So in conclusion bitcoin can't be regulate.