Looming Regulations: Good or Bad?

[doc]

agree regulation is good for crypto currency, I think It reduces scammers and the government can take the tax.
But also not good if tax is higher.

[Bliznec]

The rules are established by the state where the relevant laws are introduced. The law has been introduced, follow it. And the fact that you only assume that the state is involved in execution in a number of cryptocurrencies, especially cryptocurrency exchanges, is your right. Of course they can and they know about it!   

[Freemind]

The rules are established by the state where the relevant laws are introduced. The law has been introduced, follow it. And the fact that you only assume that the state is involved in execution in a number of cryptocurrencies, especially cryptocurrency exchanges, is your right. Of course they can and they know about it!

I agree with you. But the problem is the same as always, people with less funds will pay little and will not have another option if they do not want to break the law, but the whales that reside legally in those countries can go to tax havens (every day there are more and they are cryptocurrency friendly) and pay nothing. Exactly the same as with fiat money, that's why the biggest fortunes are almost always concentrated in the same countries.

[aiviaa485]

Or it can also enter the political sphere in the country to attract a lot of votes in the election campaign and this is really very worrying because cryptocurrencies are used as a tool for the parliamentary election campaign.
But everything can be legal because cryptocurrencies always provide something very valuable for all, including in gathering times such as during the legislative election and this evidence is enough for cryptocurrency to be accepted by the whole community.

[Freemind]

Or it can also enter the political sphere in the country to attract a lot of votes in the election campaign and this is really very worrying because cryptocurrencies are used as a tool for the parliamentary election campaign.
But everything can be legal because cryptocurrencies always provide something very valuable for all, including in gathering times such as during the legislative election and this evidence is enough for cryptocurrency to be accepted by the whole community.

Everything, absolutely everything is used to win the parliamentary elections of any political party in any country. The problem in this case is that the people who use cryptocurrencies are still few, so the argument that “if we win the elections we legalize cryptocurrencies” does not work very well for political parties. People ignore a lot of things about cryptocurrencies and that could have the opposite effect to the intended one. Everything takes time, and further adoption by citizens and governments is needed to speed things up.

[Beattysuhita]

Increasing regulations in Cryptocurrency is of course a good thing, but I hope the regulations are not too strict for us business people. Our movement should not be restricted, income tax should not be too high and let us continue to be creative. The more countries that accept Crypto, the better. But the more rules it will only make people Jenu.

[Freemind]

Increasing regulations in Cryptocurrency is of course a good thing, but I hope the regulations are not too strict for us business people. Our movement should not be restricted, income tax should not be too high and let us continue to be creative. The more countries that accept Crypto, the better. But the more rules it will only make people Jenu.

Regulations are always 50% good and 50% bad. They are good because they can protect us from scams and other problems that can make us lose all our investment and they are bad because people with less funds and benefits will always pay the same as big investors, which is unfair, I think that each person must pay according to the benefits of each individual. Fortunately or unfortunately, the regulations are different in each country, which will make some investors consider changing countries.

[Fenix]

Cryptocurrency can develop only if it is legalized by states. Legalization means determining the legal status of a cryptocurrency, as well as establishing the rules and conditions for its circulation within the state. Therefore, the establishment of such rules is inevitable. After all, the cryptocurrency, existing in the virtual world, must go in our physical world and on the territory of states. Therefore, the regulation of the circulation of cryptocurrencies by the states is mandatory if we do not want it to be a shadow market. Here only we have to fight for such regulation to be reasonable.

[Beattysuhita]

~

Regulations are always 50% good and 50% bad. They are good because they can protect us from scams and other problems that can make us lose all our investment and they are bad because people with less funds and benefits will always pay the same as big investors, which is unfair, I think that each person must pay according to the benefits of each individual. Fortunately or unfortunately, the regulations are different in each country, which will make some investors consider changing countries.

Even though there are downsides to this regulation, I personally agree and am happy to hear that. 
Even though we have to pay taxes to the government, Crypto has been recognized and legal is better than all Crypto activities being banned.

[Freemind]

Even though there are downsides to this regulation, I personally agree and am happy to hear that. 
Even though we have to pay taxes to the government, Crypto has been recognized and legal is better than all Crypto activities being banned.

I also think that it is better to pay taxes so that cryptocurrencies are not banned. But let the established tax rates be normal, otherwise many people will leave their coins/tokens in their wallets and not move them. As I said on another occasion, depending on the percentages of these taxes there will be people who will not sell their cryptocurrencies and people who have more funds could think about changing their country of residence, exactly the same as with FIAT.

[cheezcarls]

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.

In my own opinion as of this time of writing, I think regulation is such a good thing because it signals us that the government is acknowledging Bitcoin and cryptocurrencies. After all, regulation and crypto taxes are way much better than outright banning it (even if it’s technically impossible). I should be more grateful for that.

There are some countries who are banning BTC and cryptocurrencies like China. India and Russia should have almost banned it, but they have a change of heart and instead pointing towards regulation as they don’t want to be left behind in this evolving world.