Regulation seem like the only option left

[breathlessz]

Yes, government is to create enabling environment for public and private business activities.

This enabling environment refers to the policies of the government which will allow individuals to do business and pay taxes to the government.

So adopting crypto Currency and regulating it to favour the citizens will also assist and help the government to develop the State and the international system.

USA and British adopt Crypto currency and regulate it for the citizens to use and set up a tax force committee to collect tax from those that are using the currency for transactions.

Conclusively, since crypto currency is a digital currency and anonymous, the central bank of a Nation can't stop the uses but can regulate it for the benefit of it.

This already happen in my country where the central bank regulated the crypto exchange/wallet. It seems they even add more cryptocurrencies that you can buy and sell. At first, it was just btc, eth, bch and xrp that time but now there are more crypto in their list even NFT ones. Though there's binance but theirs are much easy to navigate and use though their platform is not non-custodial so I don't own the private keys or seed phrase though I could still use their exchange/wallet platform like I own the wallet PK or seed phrase and can convert crypto to fiat.

Unlike in my country, the central bank does not regulate cryptocurrencies, but there are local exchanges that have been authorized by the state for cryptocurrency trading and can be converted to fiat currency in bank accounts. So the government does not seem to socialize cryptocurrency. Hopefully in the future the government can legalize it so that socialization will certainly be held so that cryptocurrency users will grow.

[wxa7115]

Regulation tends to kill innovation, therefore it's not good at all. Increasing regulation kills also decentralization and privacy. Cryto community somewhat self regulated early years, of course there's no way back to it... but towards tightening laws, which leads ultimately as tight regulations as with banks. That is absolutely bad thing. It puts power on the few hands of the few bureaucrats, and leaves no room for small actors or individuals to enter the ecosystem with innovative solutions nor copy & paste tokens.

By nature governments and those at the top are reluctant to change and are always trying to preserve the status quo, so by nature they reject innovation, for regular people this is terrible as not only this means they have fewer chances to change their life but they will also face tremendous opposition to make their dreams come true.

One example of this was electricity, you may think that as soon electricity was mastered and light bulbs could be produced those at the top would be eager to adopt them, but since this affected the kerosene and the candles industry there was a very strong opposition to it, but at the end the superior technology imposed itself and I see a similar scenario happening here in the future.

[sana54210]

We actually look it good being unregulated and controlled by the government but it was so sad that some opportunist people like scammers take advantage of this as they can just play the market freely without worrying they got caught. Though I wasn't in favor of the government making a step with this and promoting regulation, however, I think this will give help stop the scam activities and lower the chances to get scammed.
This is just not meant for innovation control, this will help to improve the image of crypto instead which is somehow ruined by these scammers.

I have to acknowledge that scamming is "easier" in the crypto world. Doesn't mean that it is impossible in regular fiat world, we have seen it happen plenty of times in there as well but that doesn't change the fact that it is a lot easier here. So all in all I have to say that we should be focusing a bit more on regulation of easing our pains, that should be a lot better. Imagine a situation where we are just legal, and like a foreign currency.

So, if you are in the USA, you are considered like buying and selling euro, when you do that for bitcoin, or if you are in Europe, that is same as buying/selling dollars. If it goes that route, we would be doing so great.

[Abiky]

Yes, it is nonsense when they twist the facts by saying that the centralized fiat financial system is better than the decentralized financial system we have with bitcoin.

The government's fear of a decentralized financial system is based on the possible weak use of their centralized financial system by the public. Many people will switch to better, more efficient, faster and more secure systems like bitcoin. That will be the reason why they are afraid and as a preventive measure, regulation is the way out. Restricting its use as legal tender is more likely to be enforced than completely banning it. The government also knows there are big advantages of cryptocurrencies to increase state revenues.

Anything that goes against what was established by the government in the first place, will see constant opposition in the long run. Crypto threatens the very existence of Fiat (national currencies), so the only way to control it is by regulating it. Of course, this cannot be achieved with complete success due to the way crypto was designed (decentralization + censorship-resistance). But growth will certainly diminish in order to help push the adoption of centralized Fiat as a whole.

I think there's no need to worry about regulations since crypto's been battle-tested to stand the test of time. As long as decentralization prevails, nothing else matters. Who knows if crypto lives alongside Fiat for generations? Just my thoughts

[Tony116]

Regulation tends to kill innovation, therefore it's not good at all. Increasing regulation kills also decentralization and privacy. Cryto community somewhat self regulated early years, of course there's no way back to it... but towards tightening laws, which leads ultimately as tight regulations as with banks. That is absolutely bad thing. It puts power on the few hands of the few bureaucrats, and leaves no room for small actors or individuals to enter the ecosystem with innovative solutions nor copy & paste tokens.

We actually look it good being unregulated and controlled by the government but it was so sad that some opportunist people like scammers take advantage of this as they can just play the market freely without worrying they got caught. Though I wasn't in favor of the government making a step with this and promoting regulation, however, I think this will give help stop the scam activities and lower the chances to get scammed.
This is just not meant for innovation control, this will help to improve the image of crypto instead which is somehow ruined by these scammers.

Yes, regulation will be good in that it will make the crypto market cleaner and safer for market participants. We will avoid scam and rugbull projects, we will be resolved in case of a transaction dispute.

But on the other hand, the regulations will tighten the decentralization of investors we will be more tightly controlled, which would make us uncomfortable and like we are not completely free when it comes to using crypto.
This would go against the decentralization of crypto.

[Gyfts]

Regulation is inevitable, you're right. But it's perhaps not the regulation that you might think. Free markets need regulation, but the idea behind regulation is to encourage free enterprise. With crypto currency, by design, regulations are not needed because it's a decentralized entity. Regulations really just means taxing crypto at high rates so that central banks don't have to worry about it being a threat to their currency reserves. If they were smart, they would implement crypto into their financial systems, but that would require taking in a currency that they are not able to manipulate.

[Emitdama]

Regulations when done correctly is a beautiful thing. I know that people hate their governments, doesn't matter where you are living, doesn't matter if you are in a "top" country like USA, UK, France, Germany or whatever, or if you are living in a poor nation. The one thing in common with all citizens of the world that people hate politicians.

There are more in common with regular citizens of two different nations then the citizens and politicians of those nations, and there are more in common with politicians of two different nations then their citizens. I do not remember who said this, but it is a great saying and I believe the only reason we do not want regulations is because it would be the politicians we hate that will draw those legislation.

[Dunamisx]

Will there ever come a time that the government reaction to crypto will be encouraging for the people? Lately the head if international monetary fund Christine lagarde stated that regulatory action from the international community on crypto is inevitable ..what do you think

This is a confirmation with an assurance that so far as cryptocurrency will remain decentralized so is the government committed to regulating the sector through tax payment. That's what it means to my understanding, some other countries tries to place a ban while others introduce their digital fiat to counter crypto yet its ineffective.

[Lubang Bawah]

Will there ever come a time that the government reaction to crypto will be encouraging for the people? Lately the head if international monetary fund Christine lagarde stated that regulatory action from the international community on crypto is inevitable ..what do you think

This is a confirmation with an assurance that so far as cryptocurrency will remain decentralized so is the government committed to regulating the sector through tax payment. That's what it means to my understanding, some other countries tries to place a ban while others introduce their digital fiat to counter crypto yet its ineffective.

In my country crypto has been taxed, this is an indication that the government actually knows that crypto will be a valuable asset, massive campaigns and FUDs have been carried out in various media but actually make users continue to increase, this is valid evidence that crypto is a transaction system and future finances.

[Quidat]

Will there ever come a time that the government reaction to crypto will be encouraging for the people? Lately the head if international monetary fund Christine lagarde stated that regulatory action from the international community on crypto is inevitable ..what do you think

This is a confirmation with an assurance that so far as cryptocurrency will remain decentralized so is the government committed to regulating the sector through tax payment. That's what it means to my understanding, some other countries tries to place a ban while others introduce their digital fiat to counter crypto yet its ineffective.

In my country crypto has been taxed, this is an indication that the government actually knows that crypto will be a valuable asset, massive campaigns and FUDs have been carried out in various media but actually make users continue to increase, this is valid evidence that crypto is a transaction system and future finances.

Each country and its government does really have their own view and perception towards crypto but most likely it would really be ending up on negative way on which they would be having that
kind of negative impression which is something not surprising to see on and speaking with Regulation which might totally opposes overall idea of crypto but its totally we needing this
to speed up the adoption and recognition rate but of course it would really be through some payment processors and taxing out those platforms whom do deal with crypto.

[Dunamisx]

In my country crypto has been taxed, this is an indication that the government actually knows that crypto will be a valuable asset, massive campaigns and FUDs have been carried out in various media but actually make users continue to increase, this is valid evidence that crypto is a transaction system and future finances.

Another challenge is not in paying the tax but the rate on the tax is too much for the crypto industry to bear, why will a country be a burden on the people who are managing to make out life out of the terrible ugly situations of economic challenges, what do the government use the tax for? isn't it meant to be given back to the society in raising community projects, road construction and establishment of industries, then why will the same masses bear the cost to all this all in the name of i am a miner or cryptopreneur.

[marine4u]

Will there ever come a time that the government reaction to crypto will be encouraging for the people? Lately the head if international monetary fund Christine lagarde stated that regulatory action from the international community on crypto is inevitable ..what do you think

Crypto already reached a thrillion dollar marketcap so regulators will surely knocked on crypto doors since its a huge free flowing money that still untapped by the government for tax purposes. More people is startig to enter in crypto and more fiat money are flowing so I really believed on the regulators stance on that matter. We need to accept the fact that there will be no fully decentralized idea as long as fiat is still involved in all our transaction. Crypto need to not fully dependent in fiat to become free from regulators hand.

Although I disagree with all your points.  But obviously, getting rid of fiat inside centralized exchanges will be a must if the government wants to change the regulations, the controls will be there. government regulations will quickly come under pressure to change.  And the market reaction will determine the behavior to win -> The decentralized world will be there

[kesmex]

Will there ever come a time that the government reaction to crypto will be encouraging for the people? Lately the head if international monetary fund Christine lagarde stated that regulatory action from the international community on crypto is inevitable ..what do you think

This is a confirmation with an assurance that so far as cryptocurrency will remain decentralized so is the government committed to regulating the sector through tax payment. That's what it means to my understanding, some other countries tries to place a ban while others introduce their digital fiat to counter crypto yet its ineffective.

In my country crypto has been taxed, this is an indication that the government actually knows that crypto will be a valuable asset, massive campaigns and FUDs have been carried out in various media but actually make users continue to increase, this is valid evidence that crypto is a transaction system and future finances.

Yes the government will certainly not stay silent on crypto,
especially since the pandemic seems a lot of people are interested in crypto,
and cryptocurrency will not stop here and will continue to grow, we'll see

[wxa7115]

Regulations when done correctly is a beautiful thing. I know that people hate their governments, doesn't matter where you are living, doesn't matter if you are in a "top" country like USA, UK, France, Germany or whatever, or if you are living in a poor nation. The one thing in common with all citizens of the world that people hate politicians.

There are more in common with regular citizens of two different nations then the citizens and politicians of those nations, and there are more in common with politicians of two different nations then their citizens. I do not remember who said this, but it is a great saying and I believe the only reason we do not want regulations is because it would be the politicians we hate that will draw those legislation.

Regulation is coming, this is something that we knew, however how extensive, punitive and effective will be are the the questions we are asking ourselves about them.

As long as the nature of bitcoin is not changed and you can still use it to buy whatever you want without going through KYC then bitcoin will still fulfill its original purpose, however governments are hell bent on avoiding this outcome and now Europe is trying to forbid anonymous transactions, will they be successful? I hope not, but without a doubt they are going to try to impose their will, however as they lose control of the economy people will begin to wake up to the fact that it was the politicians that got them in that mess to begin with, so I hope that people will begin to openly oppose those policies.

[Xampeuu]

Will there ever come a time that the government reaction to crypto will be encouraging for the people? Lately the head if international monetary fund Christine lagarde stated that regulatory action from the international community on crypto is inevitable ..what do you think

Crypto already reached a thrillion dollar marketcap so regulators will surely knocked on crypto doors since its a huge free flowing money that still untapped by the government for tax purposes. More people is startig to enter in crypto and more fiat money are flowing so I really believed on the regulators stance on that matter. We need to accept the fact that there will be no fully decentralized idea as long as fiat is still involved in all our transaction. Crypto need to not fully dependent in fiat to become free from regulators hand.

Although I disagree with all your points.  But obviously, getting rid of fiat inside centralized exchanges will be a must if the government wants to change the regulations, the controls will be there. government regulations will quickly come under pressure to change.  And the market reaction will determine the behavior to win -> The decentralized world will be there

along with the times, of course something that can be seen as more profitable will be used, as is the case with cryptocurrencies which initially had a lot of opposition, but this faded with the times. like venezuela, this time ukraine and russia, and in the future i don't know what else will happen that can bring cryptocurrency to be regulated by the government.

[yawars20]

The currency of any country lose its value if it was not properly manage by government and it is all possible if they take proper actions to stabilize the money inflation and this is vert must for economical growth
Well the regulations are needed if your are going to stable a country's whole economy and the basic concept of crypto itself is not stable at all.
Let's take an example of money laundering issue. If crypto is legalized, there are more easier ways for so many illegal's business owner to transfer there money through crypto and mix it with white money. like this so many issues are still there for crypto base system to still solve and government impose regulation to control.

[kapalmabur]

Will there ever come a time that the government reaction to crypto will be encouraging for the people? Lately the head if international monetary fund Christine lagarde stated that regulatory action from the international community on crypto is inevitable ..what do you think

Crypto already reached a thrillion dollar marketcap so regulators will surely knocked on crypto doors since its a huge free flowing money that still untapped by the government for tax purposes. More people is startig to enter in crypto and more fiat money are flowing so I really believed on the regulators stance on that matter. We need to accept the fact that there will be no fully decentralized idea as long as fiat is still involved in all our transaction. Crypto need to not fully dependent in fiat to become free from regulators hand.

Although I disagree with all your points.  But obviously, getting rid of fiat inside centralized exchanges will be a must if the government wants to change the regulations, the controls will be there. government regulations will quickly come under pressure to change.  And the market reaction will determine the behavior to win -> The decentralized world will be there

along with the times, of course something that can be seen as more profitable will be used, as is the case with cryptocurrencies which initially had a lot of opposition, but this faded with the times. like venezuela, this time ukraine and russia, and in the future i don't know what else will happen that can bring cryptocurrency to be regulated by the government.

It is normal when cryptocurrencies are widely opposed and then with time cryptocurrencies will also be accepted,
cryptocurrency brings a lot of benefits and with that I think in the future many countries will consider adopting it

[Abiky]

Regulation is inevitable, you're right. But it's perhaps not the regulation that you might think. Free markets need regulation, but the idea behind regulation is to encourage free enterprise. With crypto currency, by design, regulations are not needed because it's a decentralized entity. Regulations really just means taxing crypto at high rates so that central banks don't have to worry about it being a threat to their currency reserves. If they were smart, they would implement crypto into their financial systems, but that would require taking in a currency that they are not able to manipulate.

Regulations are necessary to bring some level of legitimacy to the entire crypto/Blockchain industry. But too much regulations would simply stifle the growth of crypto within a designated area. While there's no point in trying to regulate something that's decentralized as crypto, governments still do it because they don't want Fiat to lose traction in the mainstream world. Otherwise, people will ditch Fiat in favor of crypto, greatly undermining the government's capacity to control the economy.

We should expect more regulation from various countries worldwide in order to prevent crypto from replacing Fiat. I'm fine with that as long as decentralization wins in the long run. Who knows what the future holds for the entire crypto/Blockchain industry? Just my thoughts

[e-lite.io]

well, it is true that any cryptocurrency enthusiasts fervently oppose new regulations. They say it would hinder innovation and goes against the spirit of cryptocurrency, which emphasizes decentralization at its core.

and for these anti-regulation crypto enthusiasts, the decentralized nature of digital currencies is a big draw. So in this view, any new regulation would pose a threat to the decentralization that is a feature, rather than a bug.

[lixer]

Regulations are necessary to bring some level of legitimacy to the entire crypto/Blockchain industry. But too much regulations would simply stifle the growth of crypto within a designated area. While there's no point in trying to regulate something that's decentralized as crypto, governments still do it because they don't want Fiat to lose traction in the mainstream world. Otherwise, people will ditch Fiat in favor of crypto, greatly undermining the government's capacity to control the economy.

We should expect more regulation from various countries worldwide in order to prevent crypto from replacing Fiat. I'm fine with that as long as decentralization wins in the long run. Who knows what the future holds for the entire crypto/Blockchain industry?

Regulation to regulation it would change though. Regulation just means putting laws on it, basically if you ban crypto that means regulations as well, the meaning of the word is that, if you make it legal and not even taxed just free use, that is regulations as well. You do not have any type of situation where it is illegal or legal and not regulated. As soon as any nation has ANY laws regarding crypto, that means it's regulated.

China regulates it in a way that it is not allowed to use, the USA is state oriented so there are some regulated it in a good way, some that regulated in a horrible way, or ones that do not even regulate. So regulation doesn't automatically brings legitimacy to it directly.