Regulations Not Working as Planned??

[Rengga Jati]

Regulations Not Working?

Not not working at all, but not running that smoothly.
There is a saying that the existence of regulations is meant to be violated or not to comply with those regulations.
Maybe this is one of them.

However, this doesn't mean it really doesn't work. because of some systems, it works quite smoothly. It's just that, sometimes it doesn't work in certain situations. When it comes to banking and cryptocurrency regulations, with blockchain technology being able to make banking stakeholders confused by the concept of digital currency, they will actually tighten regulations regarding several things. And it seems to be successful in several countries. because these rules will certainly be enough to regulate the space for blockchain movement and development, and they will definitely want to regulate it because they want to immediately control it. But it's true, it won't work 100% because blockchain is more than that. There will still be gaps where people will work outside of regulations and regulations will not work for them.

[oktana]

They can't control every aspect of Bitcoin and they don't need to. The want to control how average joe uses Bitcoin, and that's very easy to achieve - just set the rules for exchanges and other big services and that's it, because most people interact with Bitcoin through them. There's no need for sophisticated plots to take over Bitcoin mining or development if for 99% of people Bitcoin is useless when it can't be converted into $$ in their bank account.

You’ve forgotten there’s decentralized exchanges too? Well, if they make centralized exchanges feel too strict with too much rules, you’d watch people move to other centralized exchanges with better rules, and if there’s none, it will be a good thing because there will be surge in the use of decentralized exchanges. One of the things to know is that there’s always a way around it, especially if it’s technical.

[khalidkhan82118]

Regulations Not Working?

Do you think it is true, that right now with the governments, banks “powers that be” in attempt to Gain control of BTC and other cryptos.
They are trying to put into regulations etc. Yet there are troubles to making the cryptos as “securities”
With all the lawsuits “they “ try to put onto the crypto companies. Has not worked in the “favour” of the powers that be?
Is this true?

Does this prove that the blockchain tech is a success?

That BTC could work as a money system for the people and help people to devalue FIAT currency?

Or am I wrong and the “powers that be” are winning  and people will lose in the crypto world?

Your thoughts?

The regulatory landscape around cryptocurrencies is complex. Attempts to control them face challenges due to their decentralized nature. While this highlights blockchain's potential, it also brings regulatory uncertainty. Whether Bitcoin becomes a widespread monetary system remains uncertain amidst this evolving environment.

[kryptqnick]

Thinking of Bitcoin as an enemy of fiat isn't very realistic and isn't very productive nowadays. It's a zero-sum mindset idea that Bitcoin can or should cause loss of value of fiat currencies, whereas, in reality, there can be a lot of win-win situations. Let's face it: fiat is still a relevant mainstream idea, and monetary policies as well as great integration with banks has its pros for users. Fiat can be stable, online transactions can be instant and free or very cheap. There are exceptions and regional differences, but the desire for stability and reliability shouldn't be underestimated. Bitcoin is an alternative currency that provides more financial freedom, and it's also a good asset. They can coexist, with or without regulations, and regulations aren't bad per se.

[HideYourKeys]

They cannot control every part of bitcoin, if people get more educated, they will learn ways to avoid all these KYC methods

[m2017]

Regulations Not Working?

It will start working soon.

Do you think it is true, that right now with the governments, banks “powers that be” in attempt to Gain control of BTC and other cryptos.

This seems to be true if you look at the actions of the SEC and the different (but with similar goals) laws adopted by countries.

They are trying to put into regulations etc. Yet there are troubles to making the cryptos as “securities”

Well, I think that this is a problem for the regulator and, with the proper desire, this status can easily be assigned to cryptocurrencies.

With all the lawsuits “they “ try to put onto the crypto companies. Has not worked in the “favour” of the powers that be?
Is this true?

Why didn't it work? Did Zuckerberg (Meta) manage to launch his Libra coin? Nope. Here's your answer.

Does this prove that the blockchain tech is a success?

You jump from one topic to another. Of course, this technology is successful, but what does it have to do with the discussion of cryptocurrency regulation?

That BTC could work as a money system for the people and help people to devalue FIAT currency?

Bitcoin may work as a monetary system, but currently (and perhaps forever thanks to large investment investors) operates as an investment financial asset.

Or am I wrong and the “powers that be” are winning  and people will lose in the crypto world?

In any type of activity, the strongest win. You should know that the end justifies the means.

Your thoughts?

After reading your post, the only thought I have is that you should do a better job of structuring and expressing your thoughts.

[Cookdata]

Do you think it is true, that right now with the governments, banks “powers that be” in attempt to Gain control of BTC and other cryptos.
They are trying to put into regulations etc. Yet there are troubles to making the cryptos as “securities”
With all the lawsuits “they “ try to put onto the crypto companies. Has not worked in the “favour” of the powers that be?
Is this true?

They might called it regulations but to me, I think they are trying to shadow Bitcoin, what makes Bitcoin a real Bitcoin apart from the label of been security. If I remember correctly, Bitcoin as security has been thrown, only majority of alts are been considered as securities and the SEC release a list of crypto they regarded as security but Ethereum and Bitcoin weren't included in that list but the government hunt down on some crypto platforms is making Bitcoin becoming a shadow.

Does this prove that the blockchain tech is a success?

That BTC could work as a money system for the people and help people to devalue FIAT currency?

Or am I wrong and the “powers that be” are winning  and people will lose in the crypto world?

Your thoughts?

There is no need for a soothsayer to tell if Bitcoin/blockchain tech is a success, it's has been launch since 2009 and has never for once go off, else they would have used that to ridicule it many times. However, the government is hunting down everything that is making Bitcoin decentralized, mixers are now hidding and can't work anymore, miners are been restricted and that undermine the security of Bitcoin, even the exchange both centralized and decentralized ones are not left out. This is not regulation but gradual degrading of Bitcoin from mainstream.