Starting next year, new Anti-Money Laundering (AML) regulations will come into effect in Germany. The regulations will require cryptocurrency businesses to hold a Federal Financial Supervisory Authority (BaFin)-issued license, Cointelegraph Deutschland reported on July 24.
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External Link : https://cointelegraph.com/news/germany-crypto-businesses-will-require-a-bafin-license-next-year
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This post has received a 17.89% upvote from @lovejuice thanks to @cyberdyn. They love you, so does Aggroed. Please be sure to vote for Witnesses at https://steemit.com/~witnesses.
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Hello dear friend @cyberdyn.
These regulations come with the main intention of fighting money laundering. This is a positive measure. But little by little the DeFi´s market and the entire Crypto universe are undermined by regulations.
Are the regulations good? Time will tell.
Thanks for sharing.
All best, Piotr.
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Dear @crypto.piotr!
First, we have to regulate the regulators worldwide, because that is the cause why blockchains are becoming so popular and important to the people. Most people don't need new payment systems, because they have only small amounts of money, which they have to spend local for their everyday bills.
They have much more advantages from changing our ordinary systems, like in the first place, lowering taxes! That can only happen, if we begin to use blockchains for democratically, governmental and administrations purpose. Especially the last two points would have an extraordinary positive financial and economical impact, while fraud and corruption in such systems would not be possible anymore.
Through identity tokens given to the citizens, it would be possible to generate that unconditional basic income, because they would get paid for their consensus work for their own government. The public discuss so often about it, but I am sure, that nearly no politicians has a clue about that opportunities. Parallel the whole democracy should be reformed. Political structures must be digitized, they are not working out anymore and elections must be trustful again.
Giving the power back to the people!
Administration and procurement procedures, everything involved in income and payment of goverment and state, should be digitally on blockchain. I am sure, if that all happens, it is lightly possible to reduce taxes on a minimum, with more benefits and govermental services than today. And the era of the hard working people, who are nearly getting nothing for it, would be over! Everyone could participate in political decisions and that would have big impact on a better future for all.
People would basicly be happier in life and we all would have more power to concentrate on real big problems, like our global enviroment. And happy people might not consume so much sh**, like we do every day. Maybe halve the solution to rescue our planet.
By the way, blockchains are also the solution for emission values and their future administrations. Like it seems, no one of the powerful politicians has also a clue about that! They have only eyes for their own pockets now! Nothing about it, that's why we have to change the system on our own.
And that will happen to regulations!
Sure cryptocurrencies should be regulated, but not from hundred years old laws and societies. They should be regulated, but in a modern way!
Have a nice weekend, my friend, when I find time, I'll send you some nice links, like I said!
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Dear @cyberdyn
Thank you for your kind and prompt reply. Appreciate it.
Amazing comment.
But ... the people never had power in the first place. Luckily. Honestly giving power to people would create chaos, deaths and raise of local warlords. Humans are not ready to be "free".
Why would that happen?
ps.
Since you're so responsive, I thought that perhaps I could share with you my latest publication and ask about your own opinion on discussed subject:
"DID OUR WORLD LEADERS JUST PUSH GLOBAL RECESSION AWAY from our doorsteps?"
https://www.steemit.com/economy/@crypto.piotr/did-our-world-leaders-just-push-global-recession-away-from-our-doorsteps
I would appreciate it greately.
Yours
Piotr
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