Will bitcoin ever get regulated

[StanleyBoyle]

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?

Bitcoin will not be regulated, but Bitcoin trading activities and people involved in Bitcoin transactions may be regulated.

[Swapzone_pr]

It's pretty hard to imagine these regulations, cause there is a technical problem here, It’s not possible to calculate your cryptocurrency tax liability without sophisticated software. Tracking the cost basis and days carried for the software needs a “deep understanding” of how blockchain works. Simply recording transactions in an Excel spreadsheet is not good enough for calculating tax liability (for cryptocurrencies).

[Kasabus]

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?

Bitcoin will not be regulated, but Bitcoin trading activities and people involved in Bitcoin transactions may be regulated.

The coin itself cannot be regulated as it is fully decentralized. But as the government starts to adopt bitcoin, more likely that all crypto related activities will be regulated soon, even if we know the fact that crypto is far better more compared to fiat as long as transparency is concerned. Bitcoin cannot be regulated, but its centralized exchanges will certainly be because they are fully controlled by the government and whatever crypto transactions that are made in those centralized exchanges will certainly be traced easily.

[Tellek Garing]

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.

You are right on point only centralized services can get regulated and if a policy is targeted on decentralized services and exchanges what then become the faith of those found under decentralized services. Will they be term illegal and prohibited?

[dupee419]

The question is, why would you want it to be regulated? I understand that balance is the key but when the government tries to step in and take taxes, it really gets annoying, honestly, governments are trying to make a way on regulating cryptocurrencies through the use of taking taxes through transaction fees, I find it really concerning as I wonder if Bitcoin continues to rise, so does the transaction fees.

[Keremgor]

Can you regulate Math?

[AicecreaME]

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 possible for cryptocurrency to be regulated. Actually, in different countries cryptocurrencies are kind of being regulated already. Some platforms with cryptocurrency intended use are now regulated by their local government to monitor the activities such as deposit and withdrawal of assets to verify whether they are complying with the policies and to check if the users are not doing any illegal activities such as money laundering.

Here in our country, several crypto platforms are regulated by the central organization which means these platforms require undergoing KYC to verify the account. This is done for smooth transaction as well as for the app to be acknowledged and for its operations to be allowable and permissable. In addition, this is another source of tax for the government, in which the state would benefit and the citizens as well (if the funds are spent properly).

Because of the regulation, there are benefits that arise in both parties such as being more widely known and used platform and giving desirable transaction processes. There are also disadvantages such as giving your personal information (for those who aren't comfy with KYC) because some are afraid of identity theft. But it's totally normal. We have to compromise in order to have what we want. It's a balanced situation IMO. After all, regulation doesn't necessarily mean that the decentralized nature will be wiped out entirely. Part of the decentralized aspect would just be altered (such as the anonymity) but the nature of crypto will remain which cannot be controlled nor manipulated.

[Ararbermas]

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?

yep but not all countries can adopt it in my personal opinion since we have different views about crypto currency and for sure those who don't believe in such things will never change even in the future. wherein only those places that believing bitcoin has a value, like El savador and other big people who gradually accept bitcoin fo example .. Actually its not surprising bitcoin wil be regulated because many people believes that it's the future money . Let just stop assuming some will accept such decisions especially china because they're now have their very own digital asset.

[Vaskiy]

Regularly new information regarding adoption and regulation of bitcoin by different countries of the world is happening. Recently El Salvador made a strong decision against opposition. Now they've made a good return out of the Bitcoin. Government have come up with plans of constructing schools and hospitals with the profit.

Now another country Zimbabwe is with the plans of regulating cryptocurrency and accept it as legal tender. This being a small country there is more good to happen on adoption. As of now nothing officially declared from Zimbabwe government, they're on consulting stage. Soon we can see a country getting added to the list.

[RiskySanchez]

Bitcoin price can't be regulated but almost all exchanges including in my country require to pass KYC. this is the way of world governments in regulating crypto players but not for BTC, with the existence of many regulations like this the government and market exchanges benefit from personal data and exchange fees for market exchanges that's why crypto market proceed in a decentralized

[Evgenklm]

in any case, there will be attempts to regulate from countries that accept bitcoin, but this will not be realistic, because it is not written on the blockchain whose transaction this or that transaction is, only if the person himself says that these are his bitcoins.

[DewiKirana]

No, Bitcoin cannot be regulated by any government due to the decentralized nature of Bitcoin.
The only thing that can be regulated is the user, the government can make regulations if you want to own and use Bitcoin you must register with KYC so that Bitcoin use is not misused.

[andriarto]

I think it could happen, but what is regulated is not decentralization, it is more inclined to regulations in its use. if it is regulated, I think bitcoin will lose its original nature, namely decentralization and the advantages that exist in bitcoin will disappear, with decentralization we will feel free to transact anywhere and faster and security is maintained

[Mamun74]

Bitcoin is decentralised crypto currency. I think bitcoin can't be regulated. People involved bitcoin transaction and transaction  maybe be regulated. Bitcoin already proved their value.Bitcoin is most popular and valuable coin. I think bitcoin will be more development in future and price will be more increase.

[carrigan]

It would be difficult if not impossible if Bitcoin could be regulated by a person or institution in education. Bitcoin is very volatile so if it can be regulated and controlled by one person or an institution, this is a bad sign because the market is just as gripped. Maybe the value of the coin can have an effect. But don't be discouraged because it can be seen that until this moment Bitcoin's performance is better than before.

[geegaw]

No, Bitcoin cannot be regulated by any government due to the decentralized nature of Bitcoin.
The only thing that can be regulated is the user, the government can make regulations if you want to own and use Bitcoin you must register with KYC so that Bitcoin use is not misused.

Precisely the number of wallets of bitcoin as well as the scope and anonymity are definitely the things that make the government capitulate in regulation, except for bitcoin, there are also many other wallets used by users, instead of inventorying all these huge numbers, it would probably be easier to regulate users, KYC is really a process in this scheme. Although not most governments require but exchanges prepare these documents in advance, partly for confidentiality, the rest is a timely addition to accommodate regulatory requirements that the government may issue based on the pace of bitcoin development.

[Jasad]

I think it is very difficult for anyone to regulate bitcoin, even the government will find it difficult to regulate bitcoin, but if they regulate it on a crypto exchange site, chances are they can do it, because they have tools to track crypto exchanges..

[blatchcorn]

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

That's the main point. Government and centralized bodies don't like decentralized crypto aka Bitcoin. If we talk about currencies like XRP, BnB and exchanges like Binance they are not decentralized cryptos rather centralized one. Governments have no issue in accepting the centralized cryptos that can be traced and taxed. I keep writing on such posts (since they pop up every other day) that governments all around the world have zero tolerance for decentralized P2P cash transfer.

[magnum1010]

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?

Decentralisation means that it is spreaded between many people but if there are countries that have the majority of coins on their accounts, it will mean that bitcoin will partly lose its decentralisation. The main thing is that it will remain limited, so countries will not be able to release more and make it inflative like fiat money.

[riskarcher]

During the history of bitcoin has not been able to be centralized on exchanges or other market places. even banks haven't been able to calculate the value of bitcoin which has not been actual for some time. crypto products like bitcoin can only be influenced by news