regulating cryptocurrency

[inanilujimi]

Why are many governments not regulating cryptocurrency?

There are many now in several countries applying to the ownership of taxes on cryptocurrencies.
Honestly, I prefer them not to be set.
but why do you want the government in your country to regulate crypto??

[1715611232]

1715611232

[BRINIRHA]

but now many countries have regulated cryptocurrencies. have even made laws to regulate it. such as the application of taxes in cryptocurrency transactions on exchanges. but not all countries do this. but what I know is that countries in Southeast Asia like Indonesia have done it. Even in Indonesia, a protection association for cryptocurrency users has been established. and the association works closely with the government and often helps crypto users who have been fooled by scam crypto projects. and they have solved many cases. the association was named "Indonesian Crypto Consumer Association (ICCA)".

After the presence of this association, scam projects were feared and there were no more scam projects popping up in Indonesia.

[glendall]

Why are many governments not regulating cryptocurrency?

does not control but the government supervises it

the anonymous nature of the owner makes it difficult for the government to regulate cryptocurrencies because if something happens it is difficult to track
bitcoin is a decentralized currency the government will also find it difficult to control its price

[JohnBitCo]

Why are many governments not regulating cryptocurrency?

Governments want to control cryptocurrencies and they do not understand how they can control the bitcoins and crypto even if they regulate it.

Also, there is a lack of knowledge and understanding when it comes to bitcoin and governments are afraid to regulate it.

[WalkerIVIV]

I live in a country that allows cryptocurrencies to develop, until now there are no clear and binding rules for cryptocurrencies users, but for local exchanges there are those who have implemented taxpayer numbers and every withdrawal transaction to fiat will be cut off for taxes,.

It seems like that your country didn't care so much about that which is good rather than banning with non sense reason. It seems like your country was allowing any platform to deal with crypto as long as it was paying some tax to the regulators.
I hope that another country can also implement it and then the regulators will not try to eyeing crypto as something that is illegal.

[blockman]

There are many now in several countries applying to the ownership of taxes on cryptocurrencies.
Honestly, I prefer them not to be set.
but why do you want the government in your country to regulate crypto??

Adoption is one of the positive results of government intervention with crypto. But, on the other hand, that also breaks the main purpose of crypto which is decentralization.
With the government having its regulation through cryptocurrencies, the first thing that anyone can think of is all about taxes. If there's no money in it, the government won't be touching crypto. But as they all discover that there's money circulating on it and it's not just millions of dollars but billions are there and has reached a trillion market cap for its potential, they won't be stopped to regulate it.

[akuntester1]

yups, talk about regulation, that many governments in various countries have not regulated cryptocurency regulations,
I think the government feels that cryptocurrencies are still not fully under their control because of their anonymity and secrecy.
it will make it difficult for the government and relevant authorities if there is misuse for negative activities.
but I believe they must be prepared or even have a plan, because of the high interest in crypto right now in every country.
like it or not, the government will definitely still regulate to control its citizens in developments in this digital age.
I'm sure they are monitoring and waiting for crypto developments in the long term and will decide on that soon.

[Beparanf]

but now many countries have regulated cryptocurrencies. have even made laws to regulate it. such as the application of taxes in cryptocurrency transactions on exchanges. but not all countries do this. but what I know is that countries in Southeast Asia like Indonesia have done it. Even in Indonesia, a protection association for cryptocurrency users has been established. and the association works closely with the government and often helps crypto users who have been fooled by scam crypto projects. and they have solved many cases. the association was named "Indonesian Crypto Consumer Association (ICCA)".

After the presence of this association, scam projects were feared and there were no more scam projects popping up in Indonesia.

there will be a third party if the government intervenes in this field, everything will be limited so that crypto will be centralized because someone regulates it.  let the government support this technology and not interfere with the ownership of its users.  Most importantly, the government can only cooperate with local exchanges so that they can monitor illegal activities related to money laundering or other crimes that harm the state.

3rd party is actually not necessary if the country is already fully aware on crypto existence and already prepared a law for it like US and EU. This 3rd party group on other country is just a support group for there government to guide them on crypto especially if the government itself is not fully adapting crypto in there country like most of the SEA country that still watching the other countries on how to handle crypto since they are feared on its volatility.

They just need to regulate exchanges just like what you said if they want to monitor all the transactions of there citizen since CEX is always the end point of the transaction for most of the users since its the common place to exchange crypto to fiat and vice versa.

[BobK71]

but now many countries have regulated cryptocurrencies. have even made laws to regulate it. such as the application of taxes in cryptocurrency transactions on exchanges. but not all countries do this. but what I know is that countries in Southeast Asia like Indonesia have done it. Even in Indonesia, a protection association for cryptocurrency users has been established. and the association works closely with the government and often helps crypto users who have been fooled by scam crypto projects. and they have solved many cases. the association was named "Indonesian Crypto Consumer Association (ICCA)".

After the presence of this association, scam projects were feared and there were no more scam projects popping up in Indonesia.

there will be a third party if the government intervenes in this field, everything will be limited so that crypto will be centralized because someone regulates it.  let the government support this technology and not interfere with the ownership of its users.  Most importantly, the government can only cooperate with local exchanges so that they can monitor illegal activities related to money laundering or other crimes that harm the state.

Governments will never be able to regulate cryptocurrencies by restricting them. But if they come forward, crypto can do better. As did the Indonesian government. But I'm optimistic that every country's government is already holding various meetings on cryptocurrencies. They are trying to figure out how to adopt it. But everyone has fear. But even if it takes more time, they will be bound to give the approval.