Bitcoin evangelist Michael Saylor says crypto regulations would speed adoption

[Ararbermas]

Regulation of bitcoin is so easy to say, but due to some factors it is too hard imagine as well how it's possible to happen especially from some countries wherein still don't believe that bitcoin is a future money until now. I mean despite of some good news and adoption of other countries they are still blind.. But you know no need to worry if adoption will not speed up because it keep increasing gradually every year indeed, so probably no need to rush.

[South Park]

Tighter government crypto regulations would actually be a positive catalyst for bitcoin, MicroStrategy co-founder and CEO Michael Saylor told CNBC on Wednesday.

"Additional regulatory clarity from the [Biden] administration is going to benefit bitcoin and accelerate institutional adoption of that asset," Saylor said on "Squawk on the Street," stressing as a major bitcoin believer and holder he's looking for "clear, bright line definitions of digital property versus a digital security versus a digital currency and the operating rules of the digital exchange."

U.S. Securities and Exchange Commission Chairman Gary Gensler said last month that the agency is planning to crack down on Wall Street, including by creating and enacting rules for cryptocurrency markets. Back in August, Gensler said Congress needs to grant the SEC additional powers to regulate crypto.

Source

Is this where we are heading! Without regulations from the government, btc will never be able to achieve the so desirable adoption, if people like Saylor is publicly calling for regulations it means soon we will witness it, what do you guys think would happen, and what about btc maxis who are strongly in support of decentralization and privacy, will they be willing to give that regulation in other to use btc?

It is understandable that Saylor wants more regulation since he wants the price of his coins to go up, and it is not possible to make the price of bitcoin to go up by that much with retail investors anymore, so he is hoping that if things are clearer and easier for institutional investors then he will make more money, however that is not needed at all for bitcoin adoption, bitcoin will be adopted as long as it is useful, and since I do not see how bitcoin will ever become useless when we take into account the huge amount of money governments created during the last two years then there is nothing to worry about.

[Yogee]

....

Is this where we are heading!

That's not even a question now.

Without regulations from the government, btc will never be able to achieve the so desirable adoption, if people like Saylor is publicly calling for regulations it means soon we will witness it, what do you guys think would happen,

Regulation is for investor adoption and not necessarily for regular users. He is already too deep on BTC and other crypto so it's understandable that he wants more people and private companies to join.

and what about btc maxis who are strongly in support of decentralization and privacy, will they be willing to give that regulation in other to use btc?

They probably do not care anymore. They can transfer their BTC without a third party involved and they can still trade P2P.

[Obito]

Totally agree, with more regulations means that it's safe for people to get into the market with no worries of being scammed because they're protected but the only downside to all of this is that we need to get less private which is a problem for a majority of the users so we are still hanging on a thread and we don't know which way we are going to go.

[South Park]

Totally agree, with more regulations means that it's safe for people to get into the market with no worries of being scammed because they're protected but the only downside to all of this is that we need to get less private which is a problem for a majority of the users so we are still hanging on a thread and we don't know which way we are going to go.

It is impossible to make this market completely safe for those people since the nature of bitcoin is completely different than what we can expect out of fiat, people are the ones that will have to adapt their current way of thinking to bitcoin and not the other way around, after all if bitcoin were to transform and offer the same kind of protections that fiat offers then we can safely say that the idea behind bitcoin of becoming your own bank will be impossible under those circumstances, and as such there will be no reason for people like us to keep supporting it.

[TravelMug]

Totally agree, with more regulations means that it's safe for people to get into the market with no worries of being scammed because they're protected but the only downside to all of this is that we need to get less private which is a problem for a majority of the users so we are still hanging on a thread and we don't know which way we are going to go.

But this market won't get rid of scammers, since it's inception we have seen hackers and criminals still plowing around and ready to pound on anyone they gonna see. So I guess the vulnerability is there regardless if there is a regulation or not. Just one example is that we have one celebrity here locally and someone broke into his car and took everything. The sad thing is that there are crypto in his cellphone and this criminals was able to withdraw it. The good thing is that those criminals has been caught. So still depends on the individual on how they are going to protect their crypto assets with or without regulations in place.

[South Park]

Totally agree, with more regulations means that it's safe for people to get into the market with no worries of being scammed because they're protected but the only downside to all of this is that we need to get less private which is a problem for a majority of the users so we are still hanging on a thread and we don't know which way we are going to go.

But this market won't get rid of scammers, since it's inception we have seen hackers and criminals still plowing around and ready to pound on anyone they gonna see. So I guess the vulnerability is there regardless if there is a regulation or not. Just one example is that we have one celebrity here locally and someone broke into his car and took everything. The sad thing is that there are crypto in his cellphone and this criminals was able to withdraw it. The good thing is that those criminals has been caught. So still depends on the individual on how they are going to protect their crypto assets with or without regulations in place.

Truth to be told there is a huge number of people that are not ready now and will probably never be ready to be their own banks, and personally I have no problem with that, the problem is that those people want to transform bitcoin in something that is not and want this market to accommodate them and offer them all the safety nets that fiat offers, and this is not only not possible but it goes against what this market stands for, and as such we must not relent as they are the ones that will have to adapt, and if they cannot do it then they can keep using their fiat as they have always done so.

[Vaskiy]

Regulation will keep the people on safer zone unlike the market. The adoption of bitcoin over the years have gradually increased. This increase happened as a result of more countries showing positive signs of regulating the usage of bitcoin. Even now there are people around the world who feel bitcoin is developed for the purpose of illegal activities and gambling needs. This happens because many countries don't disclose the decision of whether cryptocurrency is legalized or not.

[TimeTeller]

Regulation will keep the people on safer zone unlike the market. The adoption of bitcoin over the years have gradually increased. This increase happened as a result of more countries showing positive signs of regulating the usage of bitcoin. Even now there are people around the world who feel bitcoin is developed for the purpose of illegal activities and gambling needs. This happens because many countries don't disclose the decision of whether cryptocurrency is legalized or not.

With the regulation, it comes with better perception towards crypto.
Because up until today, many people who are not well-informed about crypto are still thinking about its negative aspect.
Like being used in money laundering, scamming and other illegal activities.
If their government will have regulations towards the usage of crypto, they may change their mindset and trust its existence.
So yes, I am fine with regulation because it will further boost adoption. But as a crypto user, you can also reserve some privacy on your own.

[Bitstar_coin]

Regulation will keep the people on safer zone unlike the market. The adoption of bitcoin over the years have gradually increased. This increase happened as a result of more countries showing positive signs of regulating the usage of bitcoin. Even now there are people around the world who feel bitcoin is developed for the purpose of illegal activities and gambling needs. This happens because many countries don't disclose the decision of whether cryptocurrency is legalized or not.

At this stage, it is undeniable, regulation is coming for crypto and there is nothing anyone can do to change that, it is already happening.  According to yahoo news of February 18th, president Joe Biden is expected to issue and execute order that will require government agencies to study cryptocurrencies and cbdc afterward develop a statewide strategy to regulate digital currency". 
So it is just a matter of time before a complete crypto regulation begins worldwide. My belief is, once the United State start the regulation process many other countries will follow.

[Kasabus]

Regulation will keep the people on safer zone unlike the market. The adoption of bitcoin over the years have gradually increased. This increase happened as a result of more countries showing positive signs of regulating the usage of bitcoin. Even now there are people around the world who feel bitcoin is developed for the purpose of illegal activities and gambling needs. This happens because many countries don't disclose the decision of whether cryptocurrency is legalized or not.

At this stage, it is undeniable, regulation is coming for crypto and there is nothing anyone can do to change that, it is already happening.  According to yahoo news of February 18th, president Joe Biden is expected to issue and execute order that will require government agencies to study cryptocurrencies and cbdc afterward develop a statewide strategy to regulate digital currency". 
So it is just a matter of time before a complete crypto regulation begins worldwide. My belief is, once the United State start the regulation process many other countries will follow.

I guess with the incoming crypto regulation in US, this will benefit both. US will take advantage on the trend since crypto has become mainstream, and crypto on its side will also gain more popularity from the people. And i have to agree with OP that once crypto will be regulated, it will build on the minds of the people that crypto is a safe investment and it has nothing to worry about since there is government that comes to regulate it.

[Anonylz]

...According to yahoo news of February 18th, president Joe Biden is expected to issue and execute order that will require government agencies to study cryptocurrencies and cbdc afterward develop a statewide strategy to regulate digital currency". 

Such a bold step on the part of the US president, it's about time they pay attention to digital currency and recognize it's importance in any country's economy,  and I kinda wonder though, if the El-Salvador stand on btc has some kind of influence on this proposal, I mean El-Salvador really display a strong determination in the face of pressure from a powerful organization like the IMF.

So it is just a matter of time before a complete crypto regulation begins worldwide. My belief is, once the United State start the regulation process many other countries will follow.

It is very possible this will happen, at the most majority of the 3rd world countries will change views and come up with their own regulation methods, I can tell this no longer far away.

[redsun114]

I think he’s right. The reason why most people usually think that cryptocurrency is not meant for them is because it is not regulated, so they all feel like it not something safe for them to invest their money in. Maybe if Bitcoin should eventually be well regulated, it might just help with the adoption. But you have to consider those that have been around and what they want.

I know for sure that the least some of them would want now is regulation. Most of the old users prefers privacy and doesn’t want the government looking into what goes on the crypto space, they prefer to stay anonymous. There are also those that doesn’t mind. Finally, we should also look at the main purpose in which Satoshi Nakamoto created Bitcoin, was it for the government to be part of it?

[Emitdama]

I guess with the incoming crypto regulation in US, this will benefit both. US will take advantage on the trend since crypto has become mainstream, and crypto on its side will also gain more popularity from the people. And i have to agree with OP that once crypto will be regulated, it will build on the minds of the people that crypto is a safe investment and it has nothing to worry about since there is government that comes to regulate it.

Are people afraid of investing in Bitcoin because there is no government regulation, or are they avoiding it because of the volatility? Maybe regulation is helpful, and may have a little impact in helping people adopt Bitcoin, but that is really not the main thing.

For now, I think the case with this has to do with people not understanding Bitcoin, they don’t know how to go about it or maybe they just lack interest in having to do with cryptocurrency, it can also be that they are afraid of how volatile cryptocurrency is, which is they would avoid it. So, it’s not much about regulation, because even if they should regulate it, that volatility still remains and anyone will think twice before going for it.

[HRIDOY4847]

There are some points that can be assumed that some institutional investors are very indecisive about crypto due to regulatory uncertainty. They talk differently. Regardless of the many things, just having clear rules will not make them a "good" investment, it will give them a better assessment. It can be expected.

[ChiBitCTy]

Tighter government crypto regulations would actually be a positive catalyst for bitcoin, MicroStrategy co-founder and CEO Michael Saylor told CNBC on Wednesday.

"Additional regulatory clarity from the [Biden] administration is going to benefit bitcoin and accelerate institutional adoption of that asset," Saylor said on "Squawk on the Street," stressing as a major bitcoin believer and holder he's looking for "clear, bright line definitions of digital property versus a digital security versus a digital currency and the operating rules of the digital exchange."

U.S. Securities and Exchange Commission Chairman Gary Gensler said last month that the agency is planning to crack down on Wall Street, including by creating and enacting rules for cryptocurrency markets. Back in August, Gensler said Congress needs to grant the SEC additional powers to regulate crypto.

Source

Is this where we are heading! Without regulations from the government, btc will never be able to achieve the so desirable adoption, if people like Saylor is publicly calling for regulations it means soon we will witness it, what do you guys think would happen, and what about btc maxis who are strongly in support of decentralization and privacy, will they be willing to give that regulation in other to use btc?

Regulation is a good thing, and if bitcoin is not regulated then it will without question be banned in most countries.  First off the privacy aspect can still be upheld for the most part even with regulations.  Secondly, it does not make it centralized just because you add regulations to it.  If regulation doesn't come, then it will be banned, meaning countries will not allow for exchanges to operate in their nation, which will in return deter people from purchasing/transacting.  It is what it is and if you want bitcoin to succeed then you should be in favor with some level of regulation.

[suzanne5223]

Once said some time ago that if you said you're a crypto enthusiast and you don't expect some regulations within the system and you want cryptocurrency to be mainstream of payment or you want the institutional investor to join it wagon then you're not a crypto enthusiast because there's no way cryptocurrency will achieve this without some form of regulation which I believe is the major sacrifice we have to face.
Michael Saylor was absolutely right and I don't think this regulation should bother us since the government can only regulate exchange sites etc, not crypto itself.

[South Park]

Regulation will keep the people on safer zone unlike the market. The adoption of bitcoin over the years have gradually increased. This increase happened as a result of more countries showing positive signs of regulating the usage of bitcoin. Even now there are people around the world who feel bitcoin is developed for the purpose of illegal activities and gambling needs. This happens because many countries don't disclose the decision of whether cryptocurrency is legalized or not.

At this stage, it is undeniable, regulation is coming for crypto and there is nothing anyone can do to change that, it is already happening.  According to yahoo news of February 18th, president Joe Biden is expected to issue and execute order that will require government agencies to study cryptocurrencies and cbdc afterward develop a statewide strategy to regulate digital currency". 
So it is just a matter of time before a complete crypto regulation begins worldwide. My belief is, once the United State start the regulation process many other countries will follow.

We knew that such regulations were going to eventually come to this market, however they can write whatever they want in a piece of paper and say they have regulated the market of cryptocurrencies, but will they be able to implement what they wrote on those laws? Because that is the real question, just to give an example many chemical substances are forbidden due to the effect they have on people and yet the illegal drug market keep growing and growing despite all the money invested to combat it, and when we think that this market was specifically designed to deal against centralized enemies then the chances they will regulate this market as they like is very close to zero.

[TheNineClub]

Tighter government crypto regulations would actually be a positive catalyst for bitcoin, MicroStrategy co-founder and CEO Michael Saylor told CNBC on Wednesday.

"Additional regulatory clarity from the [Biden] administration is going to benefit bitcoin and accelerate institutional adoption of that asset," Saylor said on "Squawk on the Street," stressing as a major bitcoin believer and holder he's looking for "clear, bright line definitions of digital property versus a digital security versus a digital currency and the operating rules of the digital exchange."

U.S. Securities and Exchange Commission Chairman Gary Gensler said last month that the agency is planning to crack down on Wall Street, including by creating and enacting rules for cryptocurrency markets. Back in August, Gensler said Congress needs to grant the SEC additional powers to regulate crypto.

Source

Is this where we are heading! Without regulations from the government, btc will never be able to achieve the so desirable adoption, if people like Saylor is publicly calling for regulations it means soon we will witness it, what do you guys think would happen, and what about btc maxis who are strongly in support of decentralization and privacy, will they be willing to give that regulation in other to use btc?

He's not wrong. Not that it would just speed adoption, regulation is actually a barrier that stops BTC from being adopted. But we need to ask ourselves, is that what we really want? Why do we need mass adoption, especially so quickly? Are we only chasing that all-time financial high? Because maybe we need to redefine why we are in Crypto in the first place. I don't know if we are heading there, but it's definitely a line that will have to be crossed, and we need to discuss if that's something that has benefits in the long run.

[Mahanton]

Once said some time ago that if you said you're a crypto enthusiast and you don't expect some regulations within the system and you want cryptocurrency to be mainstream of payment or you want the institutional investor to join it wagon then you're not a crypto enthusiast because there's no way cryptocurrency will achieve this without some form of regulation which I believe is the major sacrifice we have to face.
Michael Saylor was absolutely right and I don't think this regulation should bother us since the government can only regulate exchange sites etc, not crypto itself.

Speaking technically then it couldnt be possible but even though we do like it or not, regulation would really be always next in line and there's nothing we can do about it.
Does it speed up adoption? Certainly yes and we know that once government do really make out some involvement yet people around would definitely tend to believe
on what they are tending to say even though crypto platforms had been centralized then it would really still get that kind of attention which would fasten
out that kind of exposure and overall adoption and recognition.