Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: jerrygarkia on September 14, 2020, 12:44:35 AM
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Weather the Governments like cryptocurrencies or not is debatable. We are noticing that world over the governments are taking cryptocurrencies more seriously with every passing day.
However some cryptocurrencies think they are invincible and can exist and no government can ban them. Thought this can be debated by many, in my personal opinion. It is really hard for cryptocurrencies to exist without approval of governments.
I do know that some brilliant people have already understood this and are building solutions around this. A good example is Concordium. They are building the world’s first regulatory complaint blockchain with on-chain governance. The catch here is, if all laws are regulations are followed and abide by, Governments cannot shut it down. It then becomes a big win in turn.
I think more regulation will be seen in the coming years and if cryptocurrencies have inbuilt regulatory mechanisms like the above blockchain, I don’t see any issue and there would be no reason they wont be allowed. I really think that 2020 is going to be the yard of regulation especially with the travel rule getting implemented across the globe.
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It should be agreed that over time, states will increasingly regulate the circulation of cryptocurrency on their territory. This is natural and quite logical. Therefore, it is necessary to immediately build your activity in cryptocurrency taking into account both national legislation and international bodies regulating this activity.
It should also be borne in mind that states will never actively support a decentralized cryptocurrency, or even just widely use it. They will work with their central bank stablecoins.
States will only be forced to allow the circulation of a decentralized cryptocurrency, after which they will try to put their circulation in a rigid framework.
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I think more regulation will be seen in the coming years and if cryptocurrencies have inbuilt regulatory mechanisms like the above blockchain, I don’t see any issue and there would be no reason they wont be allowed. I really think that 2020 is going to be the yard of regulation especially with the travel rule getting implemented across the globe.
I like your analysis. Also thought that 2020 is ground breaking year for crypto. Though some of the countries totally against crypto will be needed to think again cause they also knew that digital currency already been influenced and majorly used on some industries. Take for example the Russian country who drafted a law about anti crypto, he clearly dont want the crypto to rules over their economy as such powerful investment scheme.
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Weather the Governments like cryptocurrencies or not is debatable. We are noticing that world over the governments are taking cryptocurrencies more seriously with every passing day.
However some cryptocurrencies think they are invincible and can exist and no government can ban them. Thought this can be debated by many, in my personal opinion. It is really hard for cryptocurrencies to exist without approval of governments.
I do know that some brilliant people have already understood this and are building solutions around this. A good example is Concordium. They are building the world’s first regulatory complaint blockchain with on-chain governance. The catch here is, if all laws are regulations are followed and abide by, Governments cannot shut it down. It then becomes a big win in turn.
I think more regulation will be seen in the coming years and if cryptocurrencies have inbuilt regulatory mechanisms like the above blockchain, I don’t see any issue and there would be no reason they wont be allowed. I really think that 2020 is going to be the yard of regulation especially with the travel rule getting implemented across the globe.
Yes sir you are right. If the governments of different countries declare the currency permanent, then this cryptocurrency will go much further.
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Cryptocurrency can exist without the government's approval but people generally will not be patronizing them because of the fear that anytime the government can seize their assets and make them accountable for doing "illicit" transactions. The government has this power whether we like it or not, and we know that the government can easily formulate any ground for doing anything at their convenience. Unfortunately, cryptocurrency could not exist in a vacuum devoid of any participation of the people.
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I also think that the government is increasingly showing support for crypto. This can also be seen with the number of marketplaces that currently also use digital currency for their payment systems. And this is the first step that government support for crypto is starting to appear. I hope this is a great first step for crypto advancement. and soon crypto will get official permission from the government and the law.
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Slowly but surely governments are realizing the fact the crypto and blockchain is the next generation technology which is here to stay and dominate so slowly each government is allowing it with some conditions, rules or regulations but eventually it will ooen up doors for mass adoption of crypto.
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More than two years have passed, but governments are in no hurry to establish clear rules for the circulation of cryptocurrency in society. This is partly due to the fact that cryptocurrency is a completely new phenomenon in the financial sector of the global economy. And finance, as you know, does not like haste. And governments have not yet developed a unified line of conduct regarding cryptocurrencies. Moreover, this process proceeds differently in different countries, taking into account economic features and the alignment of political forces. But anyway, the process is underway. States are really getting more serious about cryptocurrencies.
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Slowly but surely governments are realizing the fact the crypto and blockchain is the next generation technology which is here to stay and dominate so slowly each government is allowing it with some conditions, rules or regulations but eventually it will ooen up doors for mass adoption of crypto.
Yeah, I think the government think and learn about crypto technology.
As you said it seems slow, but I believe the government will launch soon.
digital era will come, soon.
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Slowly but surely governments are realizing the fact the crypto and blockchain is the next generation technology which is here to stay and dominate so slowly each government is allowing it with some conditions, rules or regulations but eventually it will ooen up doors for mass adoption of crypto.
Governments fully recognize and support blockchain technology, which in the age of digital technology and the Internet provides many different benefits and conveniences. We can see this even in China. But states are still ambivalent about decentralized cryptocurrencies. Most likely, they will allow it to circulate on their territory, but they will not actively support it.
Blockchain technology is at the heart of cryptocurrency, but they are completely different things.
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Some countries will eventually accept crypto, we can thank El Salvador for legalizing Bitcoin for payment transactions, but there is still resistance from global elites, because they have a lot of Fiat money and vice versa, if they own 50% of the Bitcoin supply. maybe there will be new stories about laws or other regulations.
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Weather the Governments like cryptocurrencies or not is debatable. We are noticing that world over the governments are taking cryptocurrencies more seriously with every passing day.
However some cryptocurrencies think they are invincible and can exist and no government can ban them. Thought this can be debated by many, in my personal opinion. It is really hard for cryptocurrencies to exist without approval of governments.
I do know that some brilliant people have already understood this and are building solutions around this. A good example is Concordium. They are building the world’s first regulatory complaint blockchain with on-chain governance. The catch here is, if all laws are regulations are followed and abide by, Governments cannot shut it down. It then becomes a big win in turn.
I think more regulation will be seen in the coming years and if cryptocurrencies have inbuilt regulatory mechanisms like the above blockchain, I don’t see any issue and there would be no reason they wont be allowed. I really think that 2020 is going to be the yard of regulation especially with the travel rule getting implemented across the globe.
I would say that you might have gotten it wrong there since we cannot really say that there have been many regulations across the cryptocurrency ecosystem by most Governments and this is 2022. Maybe in the future crypto regulations might actually bring in more acceptance and adoption by many who still do not believe that crypto is a safe form of investment but this is yet to be seen at the moment.
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Digital assets known as cryptocurrencies are unbacked by any sort of authority. However, Your post did a great job of describing its development. In fact, since the introduction and expansion of cryptocurrencies, the global financial system as a whole has undergone significant change.
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The global financial system is as old as the world-it is one of the few who stubbornly resist progress and see cryptocurrency as a threat...but this is not so-synergy is much more important
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yes exactly right, if all government legalize crypto then it will be at thee moon
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Due to the widespread adoption of cryptocurrencies, each nation has a unique perspective on this digital asset. While some are creating a specifically for cryptocurrencies, others have tried to regulate the industry. However, some governments in developing nations have outlawed cryptocurrencies for a variety of reasons. But there is no doubt that we will see the crypto industry bloom in the coming years.
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Cryptocurrency is a new asset class! This is a new look at the old financial system!