Can crypto be regulated globally without sacrificing decentralization?

[|MINER|]

We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...

Is there no solution? Is decentralized cryptocurrency really not globally adopted?

Regulated means something like under the governance and it about also something like the controlling. But what I think is that it is not possible to control the decentralized ecosystem in Cryptocurrency. But we all know that cryptocurrency is a block chain technology and everything in the block chain is open to everyone. So even if you can't control anyone here, it is definitely possible to trace using appropriate resources.
And I think this is the only way, which is why most countries are currently legalizing cryptocurrency and various countries are removing their illegal status.

[rachael9385]

Maybe what I think may not be what others think from my own perspective since crypto is not just for some numbers of people but for all there is no way it can be regulated globally without decentralization. The low budget people really need this decentralization so as not to be left out. If in anyway it is regulated without decentralization means it is now the affairs of only those who have upper hands but since everyone is allowed to take part there must be decentralization. That's what I think.

[doc]

We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...

Is there no solution? Is decentralized cryptocurrency really not globally adopted?

Regulated means something like under the governance and it about also something like the controlling. But what I think is that it is not possible to control the decentralized ecosystem in Cryptocurrency. But we all know that cryptocurrency is a block chain technology and everything in the block chain is open to everyone. So even if you can't control anyone here, it is definitely possible to trace using appropriate resources.
And I think this is the only way, which is why most countries are currently legalizing cryptocurrency and various countries are removing their illegal status.

no one can control the decentralise system of crypto, but the state can regulate it in local exchanges because the government can ask for personal ID from investors who exchange their crypto to FIAT.
so this is also a good regulation to reduce the misuse of crypto.

[|MINER|]

no one can control the decentralise system of crypto, but the state can regulate it in local exchanges because the government can ask for personal ID from investors who exchange their crypto to FIAT.
so this is also a good regulation to reduce the misuse of crypto.

I am also saying the same thing.But if we just look at the blockchain technology it is open for all and that is the reason if a doing illegal things and by tracing the blockchain transactions the government can find his digital fingerprint and that is how crypto can be regulated globally without sacrificing the decentralization.
After all if government create local exchanges I mean the centralized exchanger then how will we get the decentralized ecosystem?

[bayu7adi]

no one can control the decentralise system of crypto, but the state can regulate it in local exchanges because the government can ask for personal ID from investors who exchange their crypto to FIAT.
so this is also a good regulation to reduce the misuse of crypto.

Indirectly, it removes the privacy that is the nature of Bitcoin which is also related to being decentralized... the government managed to get the identity information of the BTC owner and the data will start to be tracked from that... maybe for transactions in the form of BTC before the balance is deposited to the local exchange, privacy can still be maintained... but it could be forced to be tracked by the government if there are certain indications....

Local exchanges and KYC are one form that the government can no longer accept Bitcoin as a decentralized asset.. it is like a filtering tool for government interests.

[enwi]

We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...

Is there no solution? Is decentralized cryptocurrency really not globally adopted?

Regulated means something like under the governance and it about also something like the controlling. But what I think is that it is not possible to control the decentralized ecosystem in Cryptocurrency. But we all know that cryptocurrency is a block chain technology and everything in the block chain is open to everyone. So even if you can't control anyone here, it is definitely possible to trace using appropriate resources.
And I think this is the only way, which is why most countries are currently legalizing cryptocurrency and various countries are removing their illegal status.

no one can control the decentralise system of crypto, but the state can regulate it in local exchanges because the government can ask for personal ID from investors who exchange their crypto to FIAT.
so this is also a good regulation to reduce the misuse of crypto.

Decentralised crypto systems give a lot of liberty to its users, but liberty with responsibilities also works in the same manner. Such rules as identification when exchanging Crypto for FIAT will go a long way in eradicating abuse without restricting the openness that this technology provides. That being said, relying on decentralised cryptocurrency nodes would allow people to benefit from the cryptocurrency asset while multiple parties were working on making the Web and transactions more transparent and secure. This situation implies that clearly defined regulations on local exchanges will also improve the general perception of crypto and ultimately lead to its use. If we promote the balanced approach to the protection measures we can protect this ecosystem for all users.

[|MINER|]

Decentralised crypto systems give a lot of liberty to its users, but liberty with responsibilities also works in the same manner. Such rules as identification when exchanging Crypto for FIAT will go a long way in eradicating abuse without restricting the openness that this technology provides. That being said, relying on decentralised cryptocurrency nodes would allow people to benefit from the cryptocurrency asset while multiple parties were working on making the Web and transactions more transparent and secure. This situation implies that clearly defined regulations on local exchanges will also improve the general perception of crypto and ultimately lead to its use. If we promote the balanced approach to the protection measures we can protect this ecosystem for all users.

You are right, I tried to explain these things in my previous post. If we see that currently, if we talk about money laundering, then most of the money laundering is done in fiat currency and in this case it is never completely decentralized, even if there is money laundering here, then there is crypto space and money laundering. So I don't think that money laundering can be stopped by centralizing it. But I think that if the government or the authorities take some important steps, then crypto currency can be regulated globally without centralizing it.

[electronicash]

Decentralised crypto systems give a lot of liberty to its users, but liberty with responsibilities also works in the same manner. Such rules as identification when exchanging Crypto for FIAT will go a long way in eradicating abuse without restricting the openness that this technology provides. That being said, relying on decentralised cryptocurrency nodes would allow people to benefit from the cryptocurrency asset while multiple parties were working on making the Web and transactions more transparent and secure. This situation implies that clearly defined regulations on local exchanges will also improve the general perception of crypto and ultimately lead to its use. If we promote the balanced approach to the protection measures we can protect this ecosystem for all users.

You are right, I tried to explain these things in my previous post. If we see that currently, if we talk about money laundering, then most of the money laundering is done in fiat currency and in this case it is never completely decentralized, even if there is money laundering here, then there is crypto space and money laundering. So I don't think that money laundering can be stopped by centralizing it. But I think that if the government or the authorities take some important steps, then crypto currency can be regulated globally without centralizing it.

since fiat will not disappear but exist side by side with crypto then laundering is still going to keep running.
when NFTs were just new, same stories we hear when rich men launderers their blood money. more NFTs i think will still be used for laundering even the most obvious taped banana was taken lightly by authorities.

centralization will not prevent laundering because the fiat will still be around. and i think the stablecoins will still be the same as fiat, they can print these stablecoins for as much as they want.

[pieppiep]

You are right, I tried to explain these things in my previous post. If we see that currently, if we talk about money laundering, then most of the money laundering is done in fiat currency and in this case it is never completely decentralized, even if there is money laundering here, then there is crypto space and money laundering. So I don't think that money laundering can be stopped by centralizing it. But I think that if the government or the authorities take some important steps, then crypto currency can be regulated globally without centralizing it.

To overcome the problem of money laundering in the field of cryptocurrency, countries need to work together in a world where people need to have equal regulation freedom in technologies. From this we can conclude that the right step is not the centralization of the system and the introduction of the principles of decentralization, but the creation of a mechanism for monitoring various activities of users and organizations, with the possibility of monitoring suspicious activity, without affecting the principle of decentralization of the system. In traditional systems, fiat currencies are actually usually more difficult to trace than technologies like blockchain in which transactions are actually even easier to track. Cryptocurrencies can actually be regulated if governments and authorities craft just, engagement stakeholders and keys promoting fairness and reciprocity, and avoid obfuscation while promoting transparency. And that is not only about the minimisation of risks, but about the creation of more generalised trust in this technology as a part of future financial environment.

[nakmantu99]

Decentralised crypto systems give a lot of liberty to its users, but liberty with responsibilities also works in the same manner. Such rules as identification when exchanging Crypto for FIAT will go a long way in eradicating abuse without restricting the openness that this technology provides. That being said, relying on decentralised cryptocurrency nodes would allow people to benefit from the cryptocurrency asset while multiple parties were working on making the Web and transactions more transparent and secure. This situation implies that clearly defined regulations on local exchanges will also improve the general perception of crypto and ultimately lead to its use. If we promote the balanced approach to the protection measures we can protect this ecosystem for all users.

You are right, I tried to explain these things in my previous post. If we see that currently, if we talk about money laundering, then most of the money laundering is done in fiat currency and in this case it is never completely decentralized, even if there is money laundering here, then there is crypto space and money laundering. So I don't think that money laundering can be stopped by centralizing it. But I think that if the government or the authorities take some important steps, then crypto currency can be regulated globally without centralizing it.

In my opinion, money laundering has been done long before bitcoin existed, why is there a fear of the decentralization of the system being misused for money laundering because we know that this is future technology and the government should be able to accept it. It does not mean that if it is made centralized, money laundering will not exist.

[Gurujebs]

In my opinion, money laundering has been done long before bitcoin existed, why is there a fear of the decentralization of the system being misused for money laundering because we know that this is future technology and the government should be able to accept it. It does not mean that if it is made centralized, money laundering will not exist.

Till now, there are many numbers of money laundering cases of cash reported by banks to law enforcement and they are been treated everyday as ne case. Bitcoin just happens to be the easiest way for people to launder money, this is why many countries has force centralized exchanges to kyc all their customers account so they can monitor incoming and outgoing transactions.

I'm not sure if we are going to have Bitcoin decentralization affected the way it's right now, right now it doesn't look we are really that decentralized, government regulating it will just makes bad guys move away from Bitcoin.

[|MINER|]

In my opinion, money laundering has been done long before bitcoin existed, why is there a fear of the decentralization of the system being misused for money laundering because we know that this is future technology and the government should be able to accept it. It does not mean that if it is made centralized, money laundering will not exist.

That is what I also said in my previous post that we can't blame on the bitcoin or the cryptocurrency for the money laundering. The problem is on the human nature they will do everywhere these kind of crime because like the good people are exist in world there the bad people were also exist in the world.
We have to catch those people and make them prevent from doing crime for the next time. Not like that Banning the whole system.

[target]

Have you guys watch Tucker  Carlson interview with Roger Ver? 

Roger Ver claimed that Bitcoin was high jacked and it was turned into a finance system to trap people who are trying to pay or make transactions anonymously. But of course people know this already . BTC is not anonymous because its been centralised already where your wallet or transaction can be flagged.

With what Roger said, the decentralisation I think was already sacrificed all for adoption.

[Stuart]

We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...

Is there no solution? Is decentralized cryptocurrency really not globally adopted?

It is being said that two parallel lines can never meet, except there is a shift in any of the two and that is one thing that will be asked of. Will the crypto currency industry which deals on a decentralized system make adjustments for the government which is looking for regulations to be used on the crypto community?

The shift can only be if there is another body that will come to be in-between these two as a middle man. I came across MiCA, and PrivateKayla already spoke about it. If this body gains it's stand to gap the space between these two systems, there will be a smooth running of the two in the EU region and that will create room for other continents / countries to adapt to the new developments.

MiCA which was approved by the EU Parliament as at April 20, 2023, and it is been said that it will be fully implemented maybe before the end of December 2024, with an 18-month transitional phase to facilitate a smooth transition to the new regulations. If this smoothly runs, other countries will work on it and adopt it.
This might take time which is the only factor of delay to aid smooth running for the betterment of the two bodies to go round the world.

[debra]

In my opinion, money laundering has been done long before bitcoin existed, why is there a fear of the decentralization of the system being misused for money laundering because we know that this is future technology and the government should be able to accept it. It does not mean that if it is made centralized, money laundering will not exist.

That is what I also said in my previous post that we can't blame on the bitcoin or the cryptocurrency for the money laundering. The problem is on the human nature they will do everywhere these kind of crime because like the good people are exist in world there the bad people were also exist in the world.
We have to catch those people and make them prevent from doing crime for the next time. Not like that Banning the whole system.

Yes, that is only used as an excuse by people who really don't like Bitcoin, saying that Bitcoin is something that really supports crime. because it is used as money laundering, terrorist funding and so on. even though long before Bitcoin existed, money laundering, corruption, terrorism, colonialism and so on already existed and it didn't depend on what was used, but on the people. Yes, because of human nature and also various other political interests. but yes, as long as you don't like Bitcoin, you will spread bad news about Bitcoin, whatever it is. And this is what makes people's view of Bitcoin bad. but fortunately the more we come here, the more media are also reporting good things about Bitcoin. And this also affects the mindset of people globally. Yes, although not all of it, at least with various good news from Bitcoin and also various up to date information, especially support from top people in the world, more and more people are recognizing that Bitcoin is indeed valuable. and whether it is dangerous or not depends on the person himself.