Hi Everybody,
Lately there has been many news articles blaming tightening of government regulation for the turbulent crypto markets. There are probably misconceptions in the market about regulation being the root cause, since:
- There is nothing wrong for governments to demand identification upon account opening to prevent that kids and criminals are trading freely, like in South Korea;
- Each quarter we are facing exchange and wallet hacks or ICOs turning out to be scams. This has to stop. If tighter controls are needed, then please let it come!
- Ok I hate the words fake news since it has been used a lot lately, but in crypto market there really is a lot of news in the category " attack of the aliens" and " Elvis is back" in order to manipulate the market.
There are many more reasons to embrace more regulation instead. Somehow I have the feeling that many people are just repeating each other when they are strongly against any regulation.
Maybe it has something to do with the idea that decentralization also means total freedom and hence no regulation at all. To be honest, I do not think that will work. A more mature crypto market will need more regulation to become more efficient and better organized. At the same time regulation and better organized market will result in more confidence and therefore a new pool of small investors and institutional investors who are still waiting at the sidelines.
Maybe there are many others out there who have another opinion. Feel free to share your thoughts.
Brian
Regulation is not the thing crypto needs.. don't invest in icos that are scams and always do your own due diligence and if you keep your coins ain a wallet that can not be hacked like one you control and don't EVER keep funds a shit exchange that can be hacked.
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Thanks for your views I agree that every investor must do research and due diligence, but every exchange will promise state of the art IT security and sometimes made a small flaw, every ICO scam will do its best do deceive you. You can filter out a lot but sometimes you just don’t know. Better regulation can help to prevent this to happen again and again. Nowadays I even see many retired folks at crypto events. Heard some of them and they had no clue what they are investing...
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excellent insight, cause if crypto gets big enough, it's gonna be regulated, and of course we should know where money is going, governments are not going to go without taxes!
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