What are your concerns when I comes to Cryptocurrency and? Regulation? laws? bans?
Rules?
With ongoing regulation in the main fear of everyone. What are the key thoughts on this what are some things you wish to see regulation on? what are some things you do not want to see regulation?
Would this effect how you use cryptocurrency?
There has been many things going on in this space since it has started. And the sad truth has come with bad people doing bad things as well. Such as various scams and harmful projects that find ways for people to part with their funds in dishonest manners. This has lead to more rules and procedures one must follow to sign up to like a new exchange and try to access cryptocurrency.
Let’s go over some concerns and thoughts on this manner.
Bitcoin has been targeted by many crypto haters and they have avail so many chances for the profit in crypto currencies but now as they knows that bitcoin is free so they want to impose some laws some regulations for it and governments are trying to ban this currencies for further use. The world can't ban cryptocurrency. Likewise, users of cryptocurrency shouldn't do so solely to evade tax laws. If we (as crypto users) plan to break the law to evade tax laws we should expect governments to break the laws to ban this "project".
The only thing that worries me about cryptocurrency is the market...the demand.
Rules, laws and prohibitions apply only to regulations, the law will be difficult to implement in the blockchain system, and crypto bans are not possible because they have spread throughout the world, crypto cannot be damned, if all governments want to ban crypto means internet must die and that is impossible.
Regulations and laws are inevitable, government will be on our throats no matter what. So its up to us how we are going to respond to it and it will clearly show on the demand. If demand is growing up then there's no problem will all the regulations and stuff.
Keep in mind when you have something that can't be banned, restricted,... will always have demand. in fact a demand that is only increasing so your concern is not logical in my opinion. and we should not confuse the real demand with the price movement. it is not the whole indication. price moves based on speculative demand, but the demand as in adoption of bitcoin is still ongoing even when price falls.
In the near future we are waiting for further regulation of the cryptocurrency market by the states. This is inevitable and logical, because through regulation states can legalize cryptocurrency. However, over time, the establishment of new rules regarding the circulation of cryptocurrency will be more stringent and this will partially hinder the free development of cryptocurrency.
Regulations are generally good so to keep things in order and in perspective. Also, these regulations are usually set to protect the citizens from fraudulent activities which is acceptable really. But I will not deny the fact that I do think that there are "other" activities going on behind these regulations (If you know what I mean...). Only time will tell.
Also the government won't even try to see the advantage of crypto and directly banning it, and I afraid some of the government will set a very tight regulations that is going to make crypto got the same usage with the Fiat, these two action will make crypto difficult to grow
Regulations are only a problem when it becomes too restrictive and disruptive for people to use it or to do business as usual. Take the BitLicense in New York as an example, because it stopped a lot of businesses to abandon Bitcoin or to move their business to another state where it was easier to operate their Bitcoin business.
If the government implement regulations to create a barrier to entry or to slow down adoption, then people should stand up against these decisions.
If the government approves cryptocurrency, it will have a positive impact on the development of blockchain projects. The main engine of the blockchain industry is still business. The progress depends on how actively the business will implement the blockchain and cryptocurrency.
Many crypto users are anxious about laws and regulations. we always hope that this currency has a fixed law and rules so that crypto users will feel safe and comfortable when owning assets and will get legal protection. so crypto users don't feel anxious when they transact with everyone involving many countries. thus the prohibition of this currency will not give effect because the rules and laws have been implemented. In my opinion, laws, and regulations can make the crypto market a little stable, but crypto banning is a bad idea, it has a large negative effect on the crypto market, turbulent, unstable, even uncontrollable falls.
In other words we do need rules in the space to make it more safe and create confidence. Also rules can also make the market less accessible to people who actually could benefit. It is the catch 22.
Now your turn. Let’s Hear about your thoughts On This. What do you think of rules and regulations? Do we have too many? Do little?
Do you think it’s needed? Tell us why? Look forward to hearing your thoughts.
Amazing words.
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