Crypto Regulation: How the cryptocurrency world is interacting with traditional

[Redot_News]

While markets are busy with the O word and its temporary impact on world economies, I’d like to take a step back and see how the cryptocurrency world is interacting with traditional finance.

https://redot.com/blog/crypto-regulation-how-the-cryptocurrency-world-is-interacting-with-traditional-finance/

[palle11]

The interaction between cryptocurrency and traditional is more of unrealistic endeavour especially with cryptocurrency. Going through the link, there are some levels of regulatory sample that was mentioned and they all can relate to fiat so cryptocurrency belong to a wall of its own

* anti-money laundering

* market conduct regulation

* systemic risk regulation

Traditional system and cryptocurrency seem to be on pararrel only a choice as option because it lacks being controlled like fiat.

[Vannie12]

Of course, it is difficult process. They are two different ways of financial system. It is impossible to simply shift from traditional to present technology offered. Institutions, cultures and exchanges are made to secure finance in general. It was made for the favor of many and now mandated by the government which is unchangeable without further discussion. Adopting crypto with the present system would definitely be challenging due to the risk related to financial freedom. Still, it is a big mystery how will cryptocurrencies keep their best assets towards the future.

[kryptqnick]

Sorry for asking, but what do you mean by 'O word'? Is it about the new Covid strain? If so, I don't see how it's relevant to crypto regulations, honestly. Also, while you rightly mention AML regulations among the main ones, under which category does tax regulation fall? It's very important because countries treat cryptos differently for tax purposes, and it can set some limitations on the ways cryptos can be used in a particular country. And while regulation is often out there, I don't see it's itself a sign of interaction between the crypto world and the world of traditional economy.

[Leviathan.007]

The adoption wave in the world already started after more people got into bitcoin and this attracted political men more than before the whole point is they are doing to decrease the crime and illegal deals such as gun and dungs deals but also they do that to force people doing KYC. The regulation can have both positive and negative effects but since is will usually force people to do KYC this can be completely against the base of bitcoin which is created to give us economic freedom.

[AmoreJaz]

The adoption wave in the world already started after more people got into bitcoin and this attracted political men more than before the whole point is they are doing to decrease the crime and illegal deals such as gun and dungs deals but also they do that to force people doing KYC. The regulation can have both positive and negative effects but since is will usually force people to do KYC this can be completely against the base of bitcoin which is created to give us economic freedom.

and let's admit the fact that most trading platforms are requiring kyc if we want our crypto to be converted to our local fiat. some p2p like in binance are requiring you to complete kyc before you can enjoy this feature, anyway, every binance user is now required to undergo kyc. so you have no reason not to if you want to use their services.
later on, most of these crypto trading platforms will implement kyc to its customers. i guess, we can't avoid that, unless you want to use 3rd party p2p but the security is somewhat in question.

[Oilacris]

The adoption wave in the world already started after more people got into bitcoin and this attracted political men more than before the whole point is they are doing to decrease the crime and illegal deals such as gun and dungs deals but also they do that to force people doing KYC. The regulation can have both positive and negative effects but since is will usually force people to do KYC this can be completely against the base of bitcoin which is created to give us economic freedom.

and let's admit the fact that most trading platforms are requiring kyc if we want our crypto to be converted to our local fiat. some p2p like in binance are requiring you to complete kyc before you can enjoy this feature, anyway, every binance user is now required to undergo kyc. so you have no reason not to if you want to use their services.
later on, most of these crypto trading platforms will implement kyc to its customers. i guess, we can't avoid that, unless you want to use 3rd party p2p but the security is somewhat in question.

We do really value our privacy which it is really not appealing all of the time when things attached with those verification which is normal but

as said that regulation becomes tighter and the ones who would be stressed out are the users itself and not just only the platform.

We do always prefer on having a decentralized market with decentralized service but since we are dealing with fiat then its no
surprise that we would be following up some protocol.

[jaberwock]

Crypto is a new financial system that hasn't been fully accepted not only by the government but also by many people, so the relationship is not exactly cordial, especially with this constant talk about regulations, it is not a friendly topic to the crypto community but it is like necessary evil crypto can't run away from, it is not easy but crypto will succeed.

The truth is that majority of us that are here don’t want to see any form of regulation at all. If you ask for people’s opinion on this issue, I believe that majority of them are going to tell you that they don’t want cryptocurrency  to be regulated at all. But  then we still ourselves walking down this part of regulation, which we don’t know yet how it’s going to affect the cryptocurrency market as time goes on.

Some people have no clue about what they are doing, they would tell you that they don’t want cryptocurrency to be regulated, but you’d see them making use of centralized exchanges, without knowing that they’re  aiding the government on their quest of regulating cryptocurrency.

[Ozero]

Crypto is a new financial system that hasn't been fully accepted not only by the government but also by many people, so the relationship is not exactly cordial, especially with this constant talk about regulations, it is not a friendly topic to the crypto community but it is like necessary evil crypto can't run away from, it is not easy but crypto will succeed.

The truth is that majority of us that are here don’t want to see any form of regulation at all. If you ask for people’s opinion on this issue, I believe that majority of them are going to tell you that they don’t want cryptocurrency  to be regulated at all. But  then we still ourselves walking down this part of regulation, which we don’t know yet how it’s going to affect the cryptocurrency market as time goes on.

Some people have no clue about what they are doing, they would tell you that they don’t want cryptocurrency to be regulated, but you’d see them making use of centralized exchanges, without knowing that they’re  aiding the government on their quest of regulating cryptocurrency.

States will not be interested in people's opinion whether we want to regulate cryptocurrencies. They simply cannot allow a large capital in cryptocurrency to exist in parallel and the states have no influence on this process. It must be remembered that finance is power, and they will not allow hidden, uncontrolled power to exist in parallel.
In the issue of stablecoins, it is necessary to take into account that the national currency of states is used to ensure their activities. If private structures will use the currency of states for profit, the states have the right to intervene in this process and regulate it.

[AicecreaME]

While markets are busy with the O word and its temporary impact on world economies, I’d like to take a step back and see how the cryptocurrency world is interacting with traditional finance.

https://redot.com/blog/crypto-regulation-how-the-cryptocurrency-world-is-interacting-with-traditional-finance/

I'm guessing that O word is covid-19 based on the context of your statement. It indeed has so much impact on the country's economy depending on how the government would handle the situation in their region. And while a lot of people are busy trying to resolve the pandemic, it is very evident that people relied on online transactions for convenience and safety during the times where the virus rate is at peak. Both fiat and crypto were mainly used in those times were lockdowns were imposed. Although both have been proven to be very beneficial to the users due to the convenience it offers, the two has their differences which I believe makes them parallel and not really relates with each other.

Crypto has been very particular with the privacy and security of the users, meanwhile central organization mandates KYC first before accepting a client in their platform. In that scenario alone, you can see the very big distance of their objectives. However, lately some cryptocurrency platforms has been requiring KYC for the customers accounts to be verified before they would be able to enjoy the perks of the account. This could be a threat to those users who are not fond of KYC process. A regulation could mean many things - both the good and bad. Which should really be thought of first before deciding. Nonetheless, crypto won't and never will be centralized. The government may do something to invade it but they won't succeed because bitcoin and crypto in general, is a decentralized entity and forever will be. It's just the platforms who require such gathering of information, but users could still choose on which platform they will transact.

[CaptainCrapper]

While markets are busy with the O word and its temporary impact on world economies, I’d like to take a step back and see how the cryptocurrency world is interacting with traditional finance.

https://redot.com/blog/crypto-regulation-how-the-cryptocurrency-world-is-interacting-with-traditional-finance/

My small opinion I want to say what do you mean by the O word I am not clear about this fact but I want to say the traditional side and cryptocurrency world is totally different cause traditional finance is not involved cryptocurrency world so there is no effect I think.

[24Kt]

Crypto is a new financial system that hasn't been fully accepted not only by the government but also by many people, so the relationship is not exactly cordial, especially with this constant talk about regulations, it is not a friendly topic to the crypto community but it is like necessary evil crypto can't run away from, it is not easy but crypto will succeed.

The truth is that majority of us that are here don’t want to see any form of regulation at all. If you ask for people’s opinion on this issue, I believe that majority of them are going to tell you that they don’t want cryptocurrency  to be regulated at all. But  then we still ourselves walking down this part of regulation, which we don’t know yet how it’s going to affect the cryptocurrency market as time goes on.

Some people have no clue about what they are doing, they would tell you that they don’t want cryptocurrency to be regulated, but you’d see them making use of centralized exchanges, without knowing that they’re  aiding the government on their quest of regulating cryptocurrency.

For us to aim wider adoption, I believe, subjecting ourselves to KYC is very forthcoming to most crypto-related platforms. Yes, we don't want to be regulated but to attain greater heights for crypto market, I believe, we need to submit ourselves that KYC is part of this progress. We can't avoid this to happen if we want crypto to be one of the major players in the government's financial system. But we can always opt to reserve some privacy in some of our crypto transactions.

[marilynmanson21]

in my mind how they combine the crypto system with the traditional financial system, while crypto is still considered illegal in every country,
and I think money laundering, the regulation of market behavior is identical to traditional finance and is often carried out by rogue investors and employees,
and it is clear that traditional finance is an industry regulated by the government, and the rules are made very inflexible to the detriment of individuals. different from crypto

[Findingnemo]

While markets are busy with the O word and its temporary impact on world economies, I’d like to take a step back and see how the cryptocurrency world is interacting with traditional finance.

https://redot.com/blog/crypto-regulation-how-the-cryptocurrency-world-is-interacting-with-traditional-finance/

It gets better than traditional everyday even better than gold when it comes to trust level day by day. Take a look at the stock market which crashed due to the Russia and Ukraine along with Nato Issue but Bitcoin didn't react at all it is in green.

Also more governments started to accept cryptocurrencies atleast as digital asset to generate tax revenue because they started to realise from now its impossible to eliminate them.