Looming Regulations: Good or Bad?

[bayiajaib]

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.

If crypto currency will be legalized by the government, It will have good effect for crypto currency market .
I see you predicted will happen at 2022, Hopefully It will be.
Because we all know, at several countries still blocked crypto currency.

[Master107]

If crypto currency will be legalized by the government, It will have good effect for crypto currency market .
I see you predicted will happen at 2022, Hopefully It will be.
Because we all know, at several countries still blocked crypto currency.

2022? 4 months left to enter the year. Let me assume +2 years more, countries are not yet ready to legalized cryptocurrency how much more in 4 months.

Integration of crypto system is not simple as what we think in a short period of time. Countries must prepare their citizens for the up coming adoption in order to invade the traditional point of view shift to new peripheral dimensions.

Government, crypto, citizens, economy, long term future, security, gain, and life = long term (safu) plan. 3 years seems not enough to say they master crypto adoption.

[Dora Walletinvestor]

It really depends on what directions regulations will take. I think some regulations would be good, but imposing strict limitations or bans, like some countries already do, wouldn't lead to much good.
By the way, you already have to pay taxes if you want to withdraw crypto profits in a legal manner. There have been some rumours that some governments would want to tax cryptos on every transaction, but as far as I know there is no way to do that right now.

[Ferki]

It really depends on what directions regulations will take. I think some regulations would be good, but imposing strict limitations or bans, like some countries already do, wouldn't lead to much good.
By the way, you already have to pay taxes if you want to withdraw crypto profits in a legal manner. There have been some rumours that some governments would want to tax cryptos on every transaction, but as far as I know there is no way to do that right now.

That's why the only regulations in crypto that I support are those that protect investors from scam. If governments earn more than the individual investor, then something has gone terribly wrong.
And in the same time an Amazon pays 0% tax, but earns billions. 

[Fenix]

If crypto currency will be legalized by the government, It will have good effect for crypto currency market .
I see you predicted will happen at 2022, Hopefully It will be.
Because we all know, at several countries still blocked crypto currency.

2022? 4 months left to enter the year. Let me assume +2 years more, countries are not yet ready to legalized cryptocurrency how much more in 4 months.

Integration of crypto system is not simple as what we think in a short period of time. Countries must prepare their citizens for the up coming adoption in order to invade the traditional point of view shift to new peripheral dimensions.

Government, crypto, citizens, economy, long term future, security, gain, and life = long term (safu) plan. 3 years seems not enough to say they master crypto adoption.

It looks like new and tougher rules for cryptocurrency will be introduced earlier than 2022. The G20 countries have instructed the international FATF group to prepare new rules for cryptocurrency by October and they will certainly not be liked by most participants in the cryptocurrency market. It is already good at least that the states do not intend to prohibit the circulation of bitcoin and most cryptocurrencies, although it is possible that coins with a higher level of privacy will suffer. The existing financial system simply has the intention of absorbing cryptocurrency and making it absolutely transparent and with a minimum level of confidentiality, and for government agencies without any confidentiality or anonymity at all. We will soon see where this will lead.

[elbans89]

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.

I think  you're right, all countries should learn from elsavador.
We all believe everything will be crypto at the coming future.
Digital era will dominate at the world.
So , government should adopt and legalize crypto currency.

[Digital_Lord]

I don't want government to interfere in crypto that much because if it will going like this then the government will further add some taxes on cryptocurrency users too in every country which i think will not be a good think. So, the way they are running is quite good but don't make it as limited as we didn't even think of.

[Freemind]

I don't want government to interfere in crypto that much because if it will going like this then the government will further add some taxes on cryptocurrency users too in every country which i think will not be a good think. So, the way they are running is quite good but don't make it as limited as we didn't even think of.

There are several #crypto havens" to avoid precisely what you describe in your post. Governments not only impose taxes on citizens who use crypto, but also impose taxes on exchanges that want to operate in their countries in addition to in depth investigations to combat money laundering, the difference is that in some countries those taxes are higher than in others.

[Senin]

In any case, if we want the cryptocurrency to go in our society on a par with the currencies of states, the states need to approve it, which means that the cryptocurrency will have to follow their rules for such a circulation. There is simply no other option.

[Jaephoenix]

I don't see the gloom and doom crypto heads feel regulations would bring. I think its the other way rounds. Look, this industry is plagued with all sorts of malicious characters due to its ill regulated feature. So getting the government in would reduce the criminal elements

[Lifetime]

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.

[nakmantu99]

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 agree, I think government should focus to kill scam project, not only take taxes.
Talking about 20-30% is so high mate .
Trader will leave crypto currency.
I think It's the way to kill crypto currency trader.

[Noverteno]

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.

We simply have no choice than to expect the upcoming growth of continuous regulation of the circulation of cryptocurrency by states. In any case, this regulation has positive aspects, since without establishing the legal status of the cryptocurrency and the order of its circulation in society, the official circulation of the cryptocurrency in the state will be impossible. The unofficial circulation of cryptocurrency will not have a significant impact on the financial system of the state precisely as a means of payment.
Another question is how moderate and expedient such regulation will be. In this matter, the population will have to defend their rights and find a compromise with governments.

[dekafee79]

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 agree, I think government should focus to kill scam project, not only take taxes.
Talking about 20-30% is so high mate .
Trader will leave crypto currency.
I think It's the way to kill crypto currency trader.

Yeah, I think the governments have rule to kill scam project.
Maybe KYC and monitoring every projects there.
Have regulation for scammers.
So, It will have good effect for crypto world.

[Dora Walletinvestor]

It really depends on what directions regulations will take. I think some regulations would be good, but imposing strict limitations or bans, like some countries already do, wouldn't lead to much good.
By the way, you already have to pay taxes if you want to withdraw crypto profits in a legal manner. There have been some rumours that some governments would want to tax cryptos on every transaction, but as far as I know there is no way to do that right now.

That's why the only regulations in crypto that I support are those that protect investors from scam. If governments earn more than the individual investor, then something has gone terribly wrong.
And in the same time an Amazon pays 0% tax, but earns billions.

I agree. In many ways, cryptos have made investing possible and profitable even for people who don't have large amounts of capital.