Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Crypto Barik on September 24, 2022, 03:48:36 AM
-
Why are many governments not regulating cryptocurrency?
:-\ :-\ :-\ :-[ :-[ :-[
-
Why are many governments not regulating cryptocurrency?
:-\ :-\ :-\ :-[ :-[ :-[
Governments are unaware of the existence of cryptocurrencies and when they know about it, they have become popular and are trying to learn about it. But because cryptocurrency is beyond their control, they don't fully regulate it. Maybe they can only set policies to use cryptocurrencies and adapt it to the conditions in their country. It looks like the government is still studying it and allowing its people to use it. And hopefully, the government will continue to allow us to use it and not make regulations that are too strict for its citizens.
-
I think the right question is: When are they going to implement a strict and even choking regulations that can surely affect the cryptocurrency industry? The answer is that soon this is going to be happening. Now, to answer your question, we have to remember that cryptocurrency is not yet a mature industry as this is just over 10 years old and many governments are not really that interested with cryptocurrency to begin with but because of the popularity of this industry many of these governments will have no choice but to set the parameters clear and many of them will have the intention of protecting people from the bad players in the industry and to make sure that they retain some form of control as what can be true in any industry.
-
Why are many governments not regulating cryptocurrency?
:-\ :-\ :-\ :-[ :-[ :-[
Governments are unaware of the existence of cryptocurrencies and when they know about it, they have become popular and are trying to learn about it.
It can hardly be argued that even some governments are not aware of the existence of cryptocurrencies and this explains why they still do not introduce new rules to regulate them. Governments see everything. But so far there is no consensus among them about the attitude towards it. Cryptocurrency right now does not pose a threat to their financial system. This explains that they are in no hurry to regulate it. After all, this is a completely new financial relationship. But the regulation of cryptocurrency will definitely occur in all states. And it looks like it's coming soon. So far, in general, I do not see a serious danger for cryptocurrencies from states.
-
Why are many governments not regulating cryptocurrency?
:-\ :-\ :-\ :-[ :-[ :-[
Because it is not very easy to regulate something that isn't centralized. But still most government has already found some way to regulate crypto currencies. Even if they can't directly control the network, they do have some way to indirectly control crypto currencies due to most people using centralized financial institutions like exchanges and wallets to do most of their transactions.
Other countries that has no regulation what so ever don't know how crypto currencies work or they don't actually care.
-
Why are many governments not regulating cryptocurrency?
:-\ :-\ :-\ :-[ :-[ :-[
If there are governments that do not want to regulate cryptocurrency it is because they do not trust it or they do not believe that it can help their constituents and their economy. Because their minds are closed to the potential it can give to the country.
It's still in their power and there's nothing we can do, you're lucky if the country you're in is open to regulating cryptocurrencies like the country I belong to.
-
Why are many governments not regulating cryptocurrency?
:-\ :-\ :-\ :-[ :-[ :-[
Regulation for what ? I think we know crypto currency is anonymous and no one can control this.
So, I think the government just allow or accept but can't make regulations for this.
It's my opinion.
-
Why are many governments not regulating cryptocurrency?
:-\ :-\ :-\ :-[ :-[ :-[
Governments are unaware of the existence of cryptocurrencies and when they know about it, they have become popular and are trying to learn about it. But because cryptocurrency is beyond their control, they don't fully regulate it. Maybe they can only set policies to use cryptocurrencies and adapt it to the conditions in their country. It looks like the government is still studying it and allowing its people to use it. And hopefully, the government will continue to allow us to use it and not make regulations that are too strict for its citizens.
I would not say that governments do not know about the existence of crypto-currencies, I would say more that many politicians invest there and do not hide it, and those who really do not know about crypto-currency, then they have no place in politics, because technology is growing and not to notice it, very big stupidity.
-
Regulation of cryptocurrencies will probably not happen soon in some countries, and already in some states, the cryptocurrency has already been taken under control. Most exchanges are under the control of states, they decided to regulate cryptocurrency in this way.
-
Why are many governments not regulating cryptocurrency?
:-\ :-\ :-\ :-[ :-[ :-[
Regulation for what ? I think we know crypto currency is anonymous and no one can control this.
So, I think the government just allow or accept but can't make regulations for this.
It's my opinion.
States do not have the ability to change the technical parameters of the cryptocurrency, but they have the right and opportunity to establish the rules for its circulation in the state and will do so. Thus, the regulation of the circulation of cryptocurrency by states will be carried out. However, they are not in a hurry to do this yet, since this is a completely new type of financial relationship, which is fundamentally different from all previous and currently existing financial relationships. As long as the cryptocurrency does not greatly affect the financial system of states, they are in no hurry to do so. But the cryptocurrency will definitely be regulated by the states.
-
For a long time, cryptocurrencies were considered quite niche. Governments are often not unaware of them, they just don't feel they have a big effect on mainstream finance. Executing regulations is also a tough question with how blockchains are built. The biggest question really is what route regulations will take in the future.
-
Many governments are not regulating cryptocurrencies because they don't understand it. According to them it is just about money laundering, tax evasion and terrorism, when in fact it is much more than that.
Cryptocurrencies are a new way of doing business and many people are trying to figure out how this new world works. Some governments want to help their citizens but others don't.
-
Why are many governments not regulating cryptocurrency?
:-\ :-\ :-\ :-[ :-[ :-[
I think the government still learn and do research about this technology.
So, I think the government will accept crypto technology at the coming years.
Because crypto is the future technology.
Let's see
-
Why are many governments not regulating cryptocurrency?
:-\ :-\ :-\ :-[ :-[ :-[
Regulation for what ? I think we know crypto currency is anonymous and no one can control this.
So, I think the government just allow or accept but can't make regulations for this.
It's my opinion.
Governments cannot control cryptocurrency, but they can and will regulate its circulation in society, establish the rules for its circulation.
Governments have not yet fully decided on the cryptocurrency and are still studying it and waiting. They have nowhere to hurry. When the issue of cryptocurrency was considered at the G20 summit, it was decided that the cryptocurrency does not pose a threat to global financial stability, and therefore no measures were taken. But such a representative world body has every opportunity to drive the cryptocurrency into the shadows and so that its use by people decreases immediately by tens and hundreds of times, and the cryptocurrency no longer reminds of itself at this level. Therefore, do not underestimate the impact on the cryptocurrency from the state.
So far, we see that states intend to legalize cryptocurrency, but they will not actively support it.
-
Why are many governments not regulating cryptocurrency?
:-\ :-\ :-\ :-[ :-[ :-[
This is because cryptocurrency is actually a decentralized blockchain network and does not supposed be regulated by governments in the first place. But certain governments policies tend to take care for investors and the public users through regulatory strategy. The planned regulation is part of government trying to regulate crypto for their advantage, like a revenue drives, and top of the moves, they want to earn even through taxation, fines, registrations etc.
-
The truth is many governments globally do not understand crypto since the officials are mainly in their 50s and 60s. Thus they may regard it disdainfully as a criminal venture or just straight up ponzi scheme. It takes a progressive government to recognize it and regulate it
-
The truth is many governments globally do not understand crypto since the officials are mainly in their 50s and 60s. Thus they may regard it disdainfully as a criminal venture or just straight up ponzi scheme. It takes a progressive government to recognize it and regulate it
Don't just treat governments like people who don't understand cryptocurrencies. Of course, now there is so much different information in the world that it is already impossible to cover everything on your own. But for this they have enough different young specialists and advisers. It’s just that governments aren’t very interested in cryptocurrencies. They don't intend to use it. In any case, as far as the cryptocurrency market participants want.
The regulation of cryptocurrencies by states and their governments will be inevitable. They just don't rush.
-
The truth is many governments globally do not understand crypto since the officials are mainly in their 50s and 60s. Thus they may regard it disdainfully as a criminal venture or just straight up ponzi scheme. It takes a progressive government to recognize it and regulate it
Don't just treat governments like people who don't understand cryptocurrencies. Of course, now there is so much different information in the world that it is already impossible to cover everything on your own. But for this they have enough different young specialists and advisers. It’s just that governments aren’t very interested in cryptocurrencies. They don't intend to use it. In any case, as far as the cryptocurrency market participants want.
The regulation of cryptocurrencies by states and their governments will be inevitable. They just don't rush.
That's right, that's the whole problem. If there is no interest and a final understanding of why this is necessary, no specialists will be involved.
-
In my country, the regulation of cryptocurrencies is in full swing. Even Binance made a deal to educate students. There are miners, merchants in Kazakhstan, as well as in neighboring countries - Russia, Ukraine, Belarus. I would not answer that governments do not regulate the crypto market, on the contrary, it is moving forward! This is the main thing.
-
Why are many governments not regulating cryptocurrency?
:-\ :-\ :-\ :-[ :-[ :-[
In my opinion I think the government should have regulation for crypto currency.
Because we cannot block crypto technology, I believe crypto will dominate at the coming future.
-
Crypto will simply take its place and will not compete with the fiat currency in any way... to me, it's just stupid.
-
It will be difficult for all states to do this in order to monitor the cryptocurrency, maybe this will happen.
-
It will be difficult for all states to do this in order to monitor the cryptocurrency, maybe this will happen.
Due to recent events with the gusto of FTX/Alameda and the fact that the SEC is investigating a crime - I think the state can very much take up market regulation.