regulating cryptocurrency

[Uang_kartal]

since the beginning, cryptocurrencies were created. Also the initial founders, especially bitcoin, were created, not for institutions or agencies. Because in order to fill personal and anonymity gaps, of course the above providers require transparency of customer data. Indeed, I personally don't like it. And it's not safe. .
I feel that if crypto is meant to be like that, maybe the government will intervene with it. But gradually some countries are adopting this blockchain. And it is possible that awareness of this technology will continue to increase. Although there are also some countries that openly prohibit their citizens using cryptocurrencies. yes this is how government officials in a country judge from an economic point of view, investment or transaction tools or even just an unexpected view

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[TastyChillySauce00]

they dont know how to. in the US senate, they invite blockchain expert or someone knowledgable enough when they discuss crypto bill because law makers themselves doesn't know how to handle the tech behind crypto. and Gensler himself pretends not understanding it.

China give up in trying to regulate crypto.

With so many resources that owned by the regulators or government and it doesn't make sense if you said that they didn't know how to do that. I do believe if the fact that they could do that easily but the problem is creating regulation needs various considerations, audit, and so many process that must be done. It's not the same like you said that if the regularot can easily rolling out the new regulation. There must be a very long process to make it happen.

[bounceback]

Why are many governments not regulating cryptocurrency?

Because they do not have full power to do that and so far if we see many of them can only regulate by issuing several bills on cryptocurrency growth policies in their respective countries, crypto adoption is increasing in several countries and it is very possible in the future that the government they will not be able to stop its growth, they may even admit that the presence of crypto can make their country's economic growth better.

[dlightag]

In most country leaders have not upgrade into digital way of digital finance, which many are still tag cryptocurrency as  Ponzi scheme, Nevertheless, is a just a matter of time, cryptocurrency will be regulated with a series of educating more people including have series of seminal with financial leaders in the country, it we really help to expand the ecosystem gradual process for a cryptocurrency regulation. 

[SaveOurSea]

they dont know how to. in the US senate, they invite blockchain expert or someone knowledgable enough when they discuss crypto bill because law makers themselves doesn't know how to handle the tech behind crypto. and Gensler himself pretends not understanding it.

China give up in trying to regulate crypto.

With so many resources that owned by the regulators or government and it doesn't make sense if you said that they didn't know how to do that. I do believe if the fact that they could do that easily but the problem is creating regulation needs various considerations, audit, and so many process that must be done. It's not the same like you said that if the regularot can easily rolling out the new regulation. There must be a very long process to make it happen.

The fact is that making cryptocurrency regulations is not something that can be made easily,
it will take a long time for sure and even then whether the government is really serious or not in making regulations,
better just enjoy and let's see what happens next

[danherbias07]

I always think we are just not ready for it but when you see them creating different cryptocurrencies, you become pessimistic.
Conspiracy theories will come out that they just don't want what was available because of its decentralized attribute.
Being in control means a lot, they want to see every transaction we make and trace everything back to you whenever you are in debt. (i.e. tax)
They don't want you to be keeping anything from them.
On the surface, you have your privacy but deep inside there is really none.

[jaberwock]

In most country leaders have not upgrade into digital way of digital finance, which many are still tag cryptocurrency as  Ponzi scheme, Nevertheless, is a just a matter of time, cryptocurrency will be regulated with a series of educating more people including have series of seminal with financial leaders in the country, it we really help to expand the ecosystem gradual process for a cryptocurrency regulation. 

They don't upgrade because maybe they are contented already with the traditional way of transacting but not all of those countries tag cryptocurrency as a scam.

There are also countries who join the digital trend but not in a way that they embrace the traditional cryptocurrencies that we know but they have created a digital version of their own local currencies. Don't expect too much that those countries will change over time but you can expect more on those neutral countries or those countries who don't have a hate in cryptocurrency but are also looking forward for digitalization. Maybe they are only waiting for a perfect timing to hop in.

[serjent05]

In most country leaders have not upgrade into digital way of digital finance, which many are still tag cryptocurrency as  Ponzi scheme, Nevertheless, is a just a matter of time, cryptocurrency will be regulated with a series of educating more people including have series of seminal with financial leaders in the country, it we really help to expand the ecosystem gradual process for a cryptocurrency regulation. 

They don't upgrade because maybe they are contented already with the traditional way of transacting but not all of those countries tag cryptocurrency as a scam.

Aside from being contented, it needs a lot of money to upgrade.  Aside from that, decisions often made after several official meetings, so it will take time to approve the upgrade and it take time to allocate plans and budget if the upgrade into digital way is agreed upon those meetings.

There are also countries who join the digital trend but not in a way that they embrace the traditional cryptocurrencies that we know but they have created a digital version of their own local currencies. Don't expect too much that those countries will change over time but you can expect more on those neutral countries or those countries who don't have a hate in cryptocurrency but are also looking forward for digitalization. Maybe they are only waiting for a perfect timing to hop in.

yeah, they just open their market to the cryptocurrency and let the newly established crypto industry to propagate within their country and slowly adopt the technology.

If we say the regulation then the first thing is to approve the standard, there will be a debate and many developers do not want to make regulations, they think that cryptocurrencies are financial freedom so that regulations will be rejected, maybe market selection that will form whether the coin can survive or not.

True, financial authorities are afraid of anything that may strip them of their powers and will do everything they can to stop them.  But once understood the promising result of adopting the technology, these finanial institution will be the one to implement the changes.

[bhooscream]

Why are many governments not regulating cryptocurrency?

Initially, cryptocurrency is created for decentralization. And many people in this world really accept this. However, it is different with the government, government always wants anything to be regulated and under their control of them. They don't want there to be something that cannot be controlled, like this cryptocurrency. They always use many reasons why they commonly will regulate crypto. One of them is that they want to avoid money laundrying and other reasons. Although actually, this reason is really clise.
But inf act, although as long as they want to regulate, they cannot regulate crypto fully. Because most crypto is created decentralized. What they can do is probably tighten the regulation of crypto transaction in their country, including regulating the platforms of crypto exchanges or any thing projects created in the country.

[goinmerry]

Why are many governments not regulating cryptocurrency?

Because it's not that simple to regulate crypto as in the first place, crypto has no central authority. How can the government put legality to touch crypto where in the first place they don't own it? They can just regulate it if the country will accept crypto as legal tender or just ban crypto in that country.

Instead, what the government can do is regulate crypto exchanges and other crypto-related services the same as how banks comply with the country's law.

[wxa7115]

Why are many governments not regulating cryptocurrency?

Because it's not that simple to regulate crypto as in the first place, crypto has no central authority. How can the government put legality to touch crypto where in the first place they don't own it? They can just regulate it if the country will accept crypto as legal tender or just ban crypto in that country.

Instead, what the government can do is regulate crypto exchanges and other crypto-related services the same as how banks comply with the country's law.

This is what has confused governments all over the world, governments are really good at dealing with an enemy that is centralized but they are terrible at dealing with an enemy that is decentralized, satoshi knew this and this is why he created bitcoin the way it is.

So governments did not really knew how to deal with this market but slowly they are figuring out a way to do so by regulating any centralized entity that deals with cryptocurrencies, but even that is not enough to completely control this market and they know it, which is why they are looking for more effective ways to do so.

[Jeger.Kiting]

Why are many governments not regulating cryptocurrency?

Maybe at that time they didn't know the potential of cryptocurrency in the future and didn't know it would be this big, therefore they didn't try to interfere or find out about cryptocurrencies. If they knew from the start that cryptocurrencies were going to be big and well-developed, they probably already regulated and legislated on cryptocurrencies for whatever reason in their country.

[TastyChillySauce00]

that's why crypto is called decentralized because it doesn't get regulation from the government. but getting here I think decentralization will also be erased since regulations have started exploring crypto everything will be under regulated so it is very difficult to find pure decentralized crypto.

regulators can issue regulation for crypto anytime. Decentralization doesn't matter a lot in this case. You can find that easily just like bitcoin and any other coins that are still using POW as its consensus to be the main decentralized coins for now. I think that you must also aware about this too. it's not so difficult to find the decentralized coin but it would be different when it comes to the centralized exchange site

[Ziskinberg]

Why are many governments not regulating cryptocurrency?

It was not necessary yet unless it becomes a threat that really needs to have such regulations. I know "regulations" can be somewhat in a plan in the future and I know all countries will take that move in order to minimize criminal/illegal activities. Have you ever thought this is easy? Absolutely, not as it needs a law specifically for cryptocurrency, and possibly not all lawmakers and government officials have agreed to do this.
But for sure, you will know if your country regulates crypto and that was the time you will pay taxes upon holding this.

[fuguebtc]

that's why crypto is called decentralized because it doesn't get regulation from the government. but getting here I think decentralization will also be erased since regulations have started exploring crypto everything will be under regulated so it is very difficult to find pure decentralized crypto.

Cryptocurrency is not decentralized, only bitcoin is the best decentralized coin and it will not be controlled by the government even today governments are gradually introducing regulations governing cryptocurrencies. Regulations will be formed and enacted, then they will manage investors like us through centralized exchanges, still there will be no way to fully control bitcoin making it centralized. If you don't use centralized exchanges to trade or store bitcoins, you can be safe with the decentralization and anonymity that bitcoin provides.

[Baofeng]

that's why crypto is called decentralized because it doesn't get regulation from the government. but getting here I think decentralization will also be erased since regulations have started exploring crypto everything will be under regulated so it is very difficult to find pure decentralized crypto.

Cryptocurrency is not decentralized, only bitcoin is the best decentralized coin and it will not be controlled by the government even today governments are gradually introducing regulations governing cryptocurrencies. Regulations will be formed and enacted, then they will manage investors like us through centralized exchanges, still there will be no way to fully control bitcoin making it centralized. If you don't use centralized exchanges to trade or store bitcoins, you can be safe with the decentralization and anonymity that bitcoin provides.

Yes, not all of them are fully decentralized, and bitcoin as prime mover is one example. And that's why the government is doing their best to control it by introducing regulations and we already felt the brunt of it. At least when I join crypto market in early 2017, regulation is still lax though. Until those regulatory bodies took control and force everyone, from exchanges globally, to local exchange and then gambling platform. And yet bitcoin and other crypto is still standing, very much alive and although there is regulations, still hard to control by the authorities.

[serjent05]

that's why crypto is called decentralized because it doesn't get regulation from the government. but getting here I think decentralization will also be erased since regulations have started exploring crypto everything will be under regulated so it is very difficult to find pure decentralized crypto.

Once cryptocurrency enters a centralized platform, decentralization stops there, it only resumes when it leaves the platform.  Cryptocurrency network is fully decentralized but once it gets into the platform, the process changes and the centralized network is used there until the the cryptocurrency is withdrawn.

Because not all countries allow legal tender using crypto currency.  And not all countries understand about cryptocurrencies. Crypto transactions will occur if both parties have a wallet to store the cryptocurrency. Most likely it will still take a long process if crypto currency will actually be used as a means of payment in general

There is already a third-party application that allows cryptocurrency to be used as a mode of payment, and there is already an establishment that accepts Bitcoin so I do not think it will take that long. We are almost at it, and there are also several countries that allow the transaction of cryptocurrency.

that's why crypto is called decentralized because it doesn't get regulation from the government. but getting here I think decentralization will also be erased since regulations have started exploring crypto everything will be under regulated so it is very difficult to find pure decentralized crypto.

Cryptocurrency is not decentralized, only bitcoin is the best decentralized coin and it will not be controlled by the government even today governments are gradually introducing regulations governing cryptocurrencies. Regulations will be formed and enacted, then they will manage investors like us through centralized exchanges, still there will be no way to fully control bitcoin making it centralized. If you don't use centralized exchanges to trade or store bitcoins, you can be safe with the decentralization and anonymity that bitcoin provides.

Bitcoin is under cryptocurrency, you just rebutted your statement about cryptocurrency is not decentralized.  And besides Bitcoin is proven to be not anonymous but rather a pseudo-anonymous.

[fuguebtc]

Bitcoin is under cryptocurrency, you just rebutted your statement about cryptocurrency is not decentralized.  And besides Bitcoin is proven to be not anonymous but rather a pseudo-anonymous.

I mean that not all cryptocurrencies are decentralized, even most cryptocurrencies today are concentrated, only a few are decentralized and Bitcoin is one of the numbers there. 

Bitcoin is pseudo-anonymous, what is it like? I still don't understand what you mean here, What do you mean that Bitcoin cannot help us anonymous if we use it, it's not as anonymous as we still say? People can also find our identity if we use Bitcoin, even if we do not use any centralized exchange and do not claim we own Bitcoin. You make me a bit confused.

[Detritus]

Why are many governments not regulating cryptocurrency?

Cryptocurrency is a digital asset, unlike the fiat cash which has government bands and regulations. Cryptocurrency can not be regulated because is not being printed like cash and due to high volatility that is attached to it.

[shinratensei_]

Because not all countries allow legal tender using crypto currency.  And not all countries understand about cryptocurrencies. Crypto transactions will occur if both parties have a wallet to store the cryptocurrency. Most likely it will still take a long process if crypto currency will actually be used as a means of payment in general

No man, legal tenders was not a must just to create a regulation for crypto. The country can decide whether they wanna try to create regulation for crypto or not. I think that that's clear if country will be regulating crypto once there will be a urgent situation that was pushing them to regulate crypto just like luna's incident. it must be noted that if so many countries are still conisder crypto in the gray area