There is more to the regulation's aim

[MarjorieZimmermanGinger]

I don't know if anyone is thinking the same thing, Banks are collapsing and they want to regulate crypto? How is this going to be possible? How can a corrupt system brings a transparent regulation to the crypto space? I think that this regulation is a FAD, the aim behind this regulation is not about saving mankind from crypto rug pulls, I think the plan is to squeeze the life out of crypto because of the attention its getting.

If anything needs regulation, it is CENTRALIZED EXCHANGES only.

No one is able to change the rules that have been set by the government, we do not have the authority and power towards the rules that have been set by them.

Some governments have their own pattern of seeing the development of cryptocurrency, that's why there are different regulations set in various countries, in the country where I live crypto is legal for trading on an exchange that already has permission from the government and taxes are regulated by force of law in force in my country and taxes are deducted immediately when making transactions on exchanges.

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[Fortify]

I don't know if anyone is thinking the same thing, Banks are collapsing and they want to regulate crypto? How is this going to be possible? How can a corrupt system brings a transparent regulation to the crypto space? I think that this regulation is a FAD, the aim behind this regulation is not about saving mankind from crypto rug pulls, I think the plan is to squeeze the life out of crypto because of the attention its getting.

If anything needs regulation, it is CENTRALIZED EXCHANGES only.

Your message is too open ended, there are over 200 countries out there each doing their own thing when it comes to cryptocurrency and they are definitely not all aligned. However if you're talking about countries like the US and Europe, they are already regulating cryptocurrency to some extent, long before these few banks started to fall over. Regulation is the only thing stopping the super rich from sapping every last penny out of the capitalist system, so you should be grateful that politicians are able to create and enforce these laws because the alternative is much worse. Cryptocurrency is definitely not perfect either and ignoring the bad point about it is arguably just as bad.

[Spaceman1000$]

I don't believe they can control the crypto space, they may try to gag the system but cannot control it.  The way crypto is built, it's beyond their interference.

[rby]

Regulations have pros and cons and it also has some hidden intentions that is better known to the regulator.
Without doubt. There are some dirty businesses that are being done through bitcoin and cryptocurrency, which has given a compelling reason to regulate cryptocurrency.
Apart from that, government would also want a way to generate fund in terms of tax payment from cryptocurrency and which they cannot do very well without regulation.

In the other hand, if the government regulates crypto-currency, that means the number of adoption of cryptocurrency will increase but the unique features of cryptocurrency, especially bitcoin, which is freedom will likely be limited by the government.

[Faisal2202]

How can a corrupt system brings a transparent regulation to the crypto space?

Bro, You are so optimistic about the crypto sphere, which is good for health but to some extent. Words that you are using are not the work of people who are on the right path instead it's the work of those people who know they are fooling around and making money out of it and always said "crypto is bad". I hope you catch my point here. Let me shed more light.

Banks or centralized authorities not involved in crypto always use hacks and faults in Defi space as a weapon to discourage crypto users and also their own banking users so that they tend not to use crypto features. i know, now things have changed for them like we can say it's a rough time for those same banks and centralized authorities. But we should remain calm and let the world see the beauty of BTC.

i don't understand on what basis you calling those centralized authorities and banks who are promoting BTC/crypto i do not know which one you talking about maybe CBDC/ but to me how it could be a FAD for us. Like FAD means hyping some things or platform in the market by fake noise and then leaving it behind as you said to squeeze the trust of people they have in crypto.

[Minecache]

The goal of regulation is to control and manage us, most importantly, they will earn huge taxes from regulation. I have yet to see a government that intends to strangle the cryptocurrency industry because they all know well that it is the technology of the future, they are looking for ways to control and grow in their favor.

Maybe the recent bank collapse was the catalyst for bitcoin's bounce back, but the bank's collapse doesn't mean the fiat system will collapse. Fiat will still be there and always will be, cryptocurrency is irreplaceable.

[jrrsparkles]

I don't know if anyone is thinking the same thing, Banks are collapsing and they want to regulate crypto? How is this going to be possible? How can a corrupt system brings a transparent regulation to the crypto space? I think that this regulation is a FAD, the aim behind this regulation is not about saving mankind from crypto rug pulls, I think the plan is to squeeze the life out of crypto because of the attention its getting.

If anything needs regulation, it is CENTRALIZED EXCHANGES only.

AFAIK banks doesn't regulate the cryptocurrency, there will be certain committee like group of people so called financial experts will be assigned by government to do enough research about the asset and how it can generate revenue to their government. However central bank of a country is the back bone of government so they influence government as much as they can by suppressing with huge and unfair taxes, more limitations restrictions for service providers.

[maydna]

It can happen and we've seen some banks collapse. But the government is trying to anticipate it so it doesn't spread and is still trying to find ways to overcome other bank collapses. And the government will do whatever it can to maintain the bank so that the government can keep control of it.

But no matter how hard governments try to control cryptocurrencies, they won't be able to. But they can control crypto users by making or doing KYC in every company that the government can control, which has been happening for a while. And the government may ask crypto users for money under the pretext of paying other taxes.

[slapper]

Banks' collapse is a warning flag, and their eagerness to shut down crypto is even more bizarre. Cryptocurrencies have been volatile, but legalizing them may help. I know the system is confusing, but let's follow these new guidelines. Who knows? They may be excellent! First, let's regulate controlled exchanges. Some have been hacked or had users' money taken. Centralized exchanges triggered 60% of crypto hacks in 2020, according to a recent study. Capture them. We should continue. Cryptocurrency requires fair play. Rules should not impede creativity. We'll walk the wire. Let's cooperate with rulemakers to get our voices heard. This will improve rules for everyone.

[Uruhara]

The reason for the government is of course always to protect its people. although in reality it turns out to control society itself. but we really can not be separated from the system of government and we must comply with government regulations.
because after all if crypto wants to be more accepted by the world then government intervention is needed here. creating laws to regulate crypto could also be a pretty good first step. Because means that the government is starting to be interested and open with crypto.

Many banks are close to and have filed for bankruptcy at this time. and this makes people even more uncomfortable to entrust their money to be deposited in the bank. so that more people today prefer to move their assets partially into crypto. and the government certainly sees this so that the government will try to also enter into it so that it can keep an eye on its people and also to protect the community itself.

maybe many governments are corrupt but not all of them do the same thing. there is still a lot of good government there. I hope crypto can be accepted by all groups, namely by society and also the government.

[YUriy1991]

I see if this goes about Regulation can benefit the crypto industry if done right. This can help prevent fraud and protect investors, as well as provide legitimacy to the industry as a whole. However, the motivation behind the regulation should be examined carefully. Regarding claims that crypto regulation is a fad or an attempt to stifle its growth, it is important to consider the perspectives of different stakeholders. While some may see regulation as a threat, others may see it as a way to ensure long-term sustainability of the industry.

One point of agreement may be that centralized exchanges need regulation. These exchanges often store large amounts of user funds and have suffered from hacks and other security issues in the past. Implementing regulations to ensure the safety and security of these exchanges could be a step in the right direction.

[sana54210]

I don't know if anyone is thinking the same thing, Banks are collapsing and they want to regulate crypto? How is this going to be possible? How can a corrupt system brings a transparent regulation to the crypto space? I think that this regulation is a FAD, the aim behind this regulation is not about saving mankind from crypto rug pulls, I think the plan is to squeeze the life out of crypto because of the attention its getting.

If anything needs regulation, it is CENTRALIZED EXCHANGES only.

AFAIK banks doesn't regulate the cryptocurrency, there will be certain committee like group of people so called financial experts will be assigned by government to do enough research about the asset and how it can generate revenue to their government. However central bank of a country is the back bone of government so they influence government as much as they can by suppressing with huge and unfair taxes, more limitations restrictions for service providers.

I would guess that they will eventually do it. I think there will be a moment in our life time where we can deposit our crypto into banks. It will be only bitcoin at first, but then maybe a few others will join too, mainly ethereum. I think when you could end up putting your bitcoin into the bank, that will be the start of everything that is bad and it will crash and burn, not just bitcoin but the whole crypto world.

Because banks will have 1 and say they have 3, and that type of thing happening right now with fiat, they have x amount in their vaults, and they loan out x9 amount instead, which causes people to end up losing a ton of money because there isn't enough money in the world for everyone to pay their debt back, it's mathematically impossible.

[Joshapat]

Unfortunately, governments introduced their failure to Crypto through centralized exchanges. Crypto was created in order to get rid of the corrupt and failed banking system, but unfortunately the opposite happened. Governments forced centralized exchanges to submit to their terms and impose these conditions on users through KYC, AML.

Centralized exchanges are very much like banks, the collapse of banks will eventually lead to the collapse of centralized exchanges.

We hope that the collapse of the banks will occur soon, it is time for the government to open its eyes to a better and more transparent system, namely the blockchain, if the government does not immediately implement policies, it is certain that there will be complicated problems in the future. centralized exchange is indeed the thing that makes the economic system problematic.

[KiaKia]

In the end, crypto projects will always continue to cause people to lose their life savings, so the government has to interfere with this matter regardless of the government's hidden agenda, everyone knows that the government like being in charge of everything most important when the thing is fetching the world some life-changing money, they want taxes and regulation so nothing new here with the government, they are nasty and consists of corrupt people pretending to be humankind savior, but since crypto projects are not safe either from scammers and hackers we have no choice but to let the government.

[Gyfts]

I don't know if anyone is thinking the same thing, Banks are collapsing and they want to regulate crypto? How is this going to be possible? How can a corrupt system brings a transparent regulation to the crypto space? I think that this regulation is a FAD, the aim behind this regulation is not about saving mankind from crypto rug pulls, I think the plan is to squeeze the life out of crypto because of the attention its getting.

If anything needs regulation, it is CENTRALIZED EXCHANGES only.

Yeah, it's not the entire market that needs regulations but those centralized exchanges and services that can be said to be at their control. These banking system are nowhere to go and that's why they're looking for ways to bail out and to tell people that they're doing good even if it's visible in our naked eyes on what's actually is happening on them. Together with the government, they're helping each other trying to regulate crypto but in reality, they should be the one that must be monitored because of the scenarios and events that has shown to the world on how corrupt they are.

We have been waiting for regulations for a long time, and until today there is none. Generally, people who like to invest will not touch something that is not regulated because who knows that by the next few days, BTC could be banned. I suppose it's the fear by the many investors in the US who had so much trust in thier SEC that also wants to keep crypto dead.

While they are introducing FEDnow also, I guess the goal will also be to make FEDcoin look better than BTC.

FedNow is the federal reserve's miserable attempt at trying to develop a digitalized payment platform to compete with what the private market offer. I imagine they might use the platform to introduce CBDC's considering a payment system like FedNow hasn't been developed by the fed for over four decades since the development of ACH.

Bitcoin won't be banned. The government will just offer new ways to regulate the growth of the space until it drives people away. And they might even try to force people to use their trash FedNow system while they're at it too.

[Ozero]

That’s funny because if they were not able handle the systems which were being run by their own self control then they are already done with it and failed at it. How could such people or organisations can work on decentralised system and make sure they will run it properly? That’s definitely sarcastic and it’s not going to happen real soon. Replacing a centralised system mindset with the decentralised is not gonna happen so quickly. If they ever think of doing it then it’s gonna be long process and could take decades of Timeline. There is whole world in it when we talk about financial system. That’s where everything revolves around.

Whether we like it or not, states and their governments will gradually introduce their own rules to regulate the circulation of cryptocurrencies in society. This is quite real, despite the fact that many deny such a possibility or do not understand what exactly such regulation will consist of. This will be a long and difficult process as cryptocurrency is a completely new phenomenon in the financial world. But this is inevitable.
The banking system is periodically shaken by various problems of an economic nature, but they are temporary, since the banking system is part of the state system of power and the state will not let it die in any case, although low-competitive banks will periodically crash.

[panganib999]

In the end you can't change the government's decision isn't? since you have no power to speak up, even though you can speak up, you will become a target from the government since you're high risk to ruin their goal.

The plan to regulate crypto is to earn more money from crypto taxation, combating against of money laundering, to control the crypto doesn't beat their CBDC etc. When you're think the government's law is too ridiculous, you have a way to use Bitcoin behind them.

Although there's some truth to your statement in the sense that you could be targeted by the government and all that stuff, I think you're being a little pessimistic and cynical too with the way you dismiss the possibility of cryptocurrency not being regulated but allowed to operate. For instance, cryptocurrency was able to dodge this dilemma a few years ago, and I do believe with enough effort from the people, US government will stop putting their hands on what's ours.

[Freddie Boyer]

I don't know if anyone is thinking the same thing, Banks are collapsing and they want to regulate crypto? How is this going to be possible? How can a corrupt system brings a transparent regulation to the crypto space? I think that this regulation is a FAD, the aim behind this regulation is not about saving mankind from crypto rug pulls, I think the plan is to squeeze the life out of crypto because of the attention its getting.

If anything needs regulation, it is CENTRALIZED EXCHANGES only.

I don't think about it now even though there are banks that have collapsed, because crypto cannot be regulated like a bank whose system was deliberately set up to be regulated by state regulations. Yes, a centralized exchange can indeed be regulated because some of the local exchange parties do operate more securely after paying taxes to the state. So I don't think that it is being regulated by certain parties now because it is indeed not suitable for a corrupt system to be implemented into crypto.

This has always been a topic of debate for some time now. While some argue that regulation is necessary to protect investors and prevent fraud, others believe that excessive regulation can stifle innovation and limit the potential of cryptocurrencies.

[South Park]

I don't know if anyone is thinking the same thing, Banks are collapsing and they want to regulate crypto? How is this going to be possible? How can a corrupt system brings a transparent regulation to the crypto space? I think that this regulation is a FAD, the aim behind this regulation is not about saving mankind from crypto rug pulls, I think the plan is to squeeze the life out of crypto because of the attention its getting.

If anything needs regulation, it is CENTRALIZED EXCHANGES only.

We know this has been the case from the beginning, bitcoin would not exist if banks and governments were responsible in the way they managed the economy and fiat currencies, but they refuse to do so, so Satoshi created bitcoin as a response to their irresponsible behavior and now they want to take control of bitcoin by any means possible, however it seems that before they can make an attempt to completely control this market the economy is going to face a huge challenge, and this could wake up more people about the need to have an unregulated asset like bitcoin.

[zaki12]

In the end, crypto projects will always continue to cause people to lose their life savings, so the government has to interfere with this matter regardless of the government's hidden agenda, everyone knows that the government like being in charge of everything most important when the thing is fetching the world some life-changing money, they want taxes and regulation so nothing new here with the government, they are nasty and consists of corrupt people pretending to be humankind savior, but since crypto projects are not safe either from scammers and hackers we have no choice but to let the government.

If crypto projects will always continue to cause people to lose their life savings that need attention and even if the government has to contribute, it must really be present in every problem, don't just take taxes from crypto. The government if you want to be a savior.

1. The blockchain network should limit the use of its network, or tighten the kyc data collection for new token/coin makers who are on the network, so that the devs who make coins/tokens have an identity, so not most are anonymous, so if it's a scheme, they can be held accountable and you can look for the dev.

2. Limiting the number of types and tokens. So that investors are not confused, dividing money to buy several types of coins, definitely cryptocurrencies, the most popular among investors, is the type limit and supply limit.

3. And the same exchangers must be monitored closely both from network users, as well as local government officials, in their respective countries.