Looming Regulations: Good or Bad?

[TomPluz]

In many countries right now, it seems to me that governmental regulators are really closing closely with the cryptocurrency industry including exchanges that are not granted legal standing to operate. In my estimate, come 2022 we can see these regulators establishing the parameters where cryptocurrency and related businesses can operate legally under the command of the government's laws and policies. While this can mean that legit platforms and operators can now surface to the ground, it can also mean following stringent control from the regulators and of course it can mean that they have to pay the taxes and fees required.  The good thing that can come out is that because the industry is now legit more and more people will be trusting it...especially those involving some sort of an "investment" in nature.

[Astra]

Certain rules of general behavior are in any case better than the chaos that we see so far in cryptocurrency. The main thing is that these rules are reasonable and do not contain unnecessary and unjustified restrictions. States and their governments will eventually be forced to regulate the circulation of cryptocurrency in society and this should be treated as an inevitable process. It would be nice if the cryptocurrency integrates into the global financial system without unnecessary conflicts and takes its own niche there, without claiming a leading role.

[Giangphuong8489]

Personally, I don't like government intervention in the crypto market, because of the regulatory framework that comes with crypto taxes. If crypto taxes go up to 20-30% then not many traders can continue their full-time trading careers. I want an independent and free crypto market, the government should just manage the issue of protecting users by killing scam projects.

[bigcash2011]

Even if governments try to fully regulate, kyc and tax crypto gains even then this scenario will be bearish for short term but longterm it will be hugely bullish scenario as crypto will be fully trusted by masses.

[therozaq]

Personally, I don't like government intervention in the crypto market, because of the regulatory framework that comes with crypto taxes. If crypto taxes go up to 20-30% then not many traders can continue their full-time trading careers. I want an independent and free crypto market, the government should just manage the issue of protecting users by killing scam projects.

I think It's too high, to take taxes around 20-30%.
Investors and traders have big risk.
Maybe the government just see the profit, not the lost.
I don't agree government intervention in the crypto.

[Delgboke]

I think that regulatory system should also focus more on the new and the upcoming Cryptocurrency project that are yet to enter the Cryptocurrency industry to avoid much damages in the crypto system not on the already existing Cryptocurrency firm, for me I think the body in charge of regulation from the angle of the government regulators should regulate more of new project that want to enter market to reduce scam.

[Callisto]

I think this will never happen, because the crypto community is satisfied with the state of the cryptocurrency in which it is now. If it is recognized all over the world, then, as you say, there will be huge taxes and regulators, but I don't think the whole crypto community will like it, I am sure that investors will become less popular and there will not be such a hype as it is now.

[TomPluz]

Certain rules of general behavior are in any case better than the chaos that we see so far in cryptocurrency. The main thing is that these rules are reasonable and do not contain unnecessary and unjustified restrictions. States and their governments will eventually be forced to regulate the circulation of cryptocurrency in society and this should be treated as an inevitable process. It would be nice if the cryptocurrency integrates into the global financial system without unnecessary conflicts and takes its own niche there, without claiming a leading role.

Yes, what we are looking is fair and equitable regulations that can allow the cryptocurrency to grow without the unnecessary restrictions while keeping at bay the bad players so that less people can be victimized by unscrupulous entities and bad programs. And there should be an open communications with the regulators and the whole industry. I am wishing then that this can be coming soon.

[bitcoin-shark]

I do not like this race of various states / governments to regulate the use and circulation of crypto with the sole purpose of making some profit through taxes and ancillary costs, cryptocurrencies are born to be independent and not to be blocked, in fact no state / law will never block their free movement

[Master107]

Even if governments try to fully regulate, kyc and tax crypto gains even then this scenario will be bearish for short term but longterm it will be hugely bullish scenario as crypto will be fully trusted by masses.

The world will be learn from El Salvador later. They might be the better example to follow their footsteps in adoption.

[Jaephoenix]

If regulations come today in crypto, I would welcome it with open arms because this sphere has attracted too many bad actors which has been giving it a bad name. Lets make crypto squeaky clean

[TomPluz]

Certain rules of general behavior are in any case better than the chaos that we see so far in cryptocurrency. The main thing is that these rules are reasonable and do not contain unnecessary and unjustified restrictions. States and their governments will eventually be forced to regulate the circulation of cryptocurrency in society and this should be treated as an inevitable process. It would be nice if the cryptocurrency integrates into the global financial system without unnecessary conflicts and takes its own niche there, without claiming a leading role.

I think we have the same stand on regulations. They should be made with the understanding that it is not done to constrict the whole industry but to control the bad actors and to make things fairer and more secure especially to investors and encourage everyone to follow the ethical practices and not engage in anything that can be detrimental to the people.

[Fenix]

There was news that from today the Binance cryptocurrency exchange announced that it is introducing verification for trading participants on this exchange. In addition to providing identification data, you will need to submit your identity document and go through the facial recognition procedure. Previously, Binance had some problems with regulators and after a short time this exchange surrendered. This will happen almost everywhere and we will have to come to terms with it. We still live in a society that is divided into states and it is they who, on behalf of the people, establish such rules.

[Ferki]

In many countries right now, it seems to me that governmental regulators are really closing closely with the cryptocurrency industry including exchanges that are not granted legal standing to operate. In my estimate, come 2022 we can see these regulators establishing the parameters where cryptocurrency and related businesses can operate legally under the command of the government's laws and policies. While this can mean that legit platforms and operators can now surface to the ground, it can also mean following stringent control from the regulators and of course it can mean that they have to pay the taxes and fees required.  The good thing that can come out is that because the industry is now legit more and more people will be trusting it...especially those involving some sort of an "investment" in nature.

The rich people of this world make the laws, always in such a way that they get richer and richer. If they find a way so that they do not have to pay tax on their money invested in crypto, a new law will be made so that only the small investors, like you and me, will be made need to pay a lot of tax.
Governments are satisfied and so are the rich people. Nobody will ask you or me anything. This is how the regulation works.

[Master107]

If regulations come today in crypto, I would welcome it with open arms because this sphere has attracted too many bad actors which has been giving it a bad name. Lets make crypto squeaky clean

Always take a consideration between two sides.
Advantages and Disadvantages.

Government will try to take control the world of crypto in case it is under their sovereignty. (Regulation is a must)

No government has a lot of benefits at the same time risks. Big chance to fall into the hands of scammers which can swipe all our assets. (We're responsible for our own business)

One thing for sure if crypto is govern by them. Tax and strick regulation are possible. Maybe no more excitements a and hype. And also fluctuations should have a limit. Haha