I stumbled upon this article online which talks about should cryptocurrency be regulated. I've read that it is hard to regulate crypto because it 'transcends' political borders and it is hard to define crypto as an 'asset'. Any thoughts on this topic?
Well, it is accessible anywhere in the world, so it is hard to regulate it. Also, as you mentioned, it transcends political borders. I think regulation would be important, as with everything else. In fact, it can even be safer to use due to regulation.
I don't think crypto should be regulated as its main idea is to be unregulated. I don't think that the regulation would change anything. The world of money should change and IMO the crypto is the beginning.
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I am against the regulation of crypto as well. This will cause all kinds of problems and will definitely impact gamblers. At the moment you can bet anonymously with crypto which I find to be a significant advantage. Most governments don't know how they would regulate crypto which is why it has stayed unregulated for so long. I hope that this continues.
Since directly, due to the way in which they are conceived, they cannot be structurally regulated, the closest thing they could do is legislate to make their access, use, exchange, etc. difficult.
This, far from solving any problem, would end up increasing it because they will continue to be used and on top of that the new "costs" associated with their use will have to be covered.
This talk of regulating cryptocurrencies has been there for some time now. The proponents of regulation site fraud as their biggest worry. However, I think fraud is a small price to pay for humanity to have a decentralized currency system. Even with centralized monetary systems, fraud is still rampant.
My thinking is that governments don't like being rendered irrelevant. So they are talking about regulation of cryptocurrencies to gain control but they are covering it up by saying they are worried about fraud.
Regulating cryptocurrencies will combat fraud but it beats the reason for establishing them in the first place, which is having an unregulated payment method
I think it should be regulated.. especially the altcoins.. remember LUNA incident 2yrs ago? don't ever let that happen again!!!
I think developing countries would struggle with FX volatility as long as crypto P2P exists. Crypto is gonna make the world even smaller
Being decentralized and unregulated is the very boon of crypto. I don't think otherwise should happen.
Regulating? You mean putting tax to it?
The more economies reject it, the more their economy collapses. Crypto is an inevitable evolution of money
@abelbm I think what really bothers governments is the fact that crypto in itself, For example stable coins like USDT tend to negatively impact the monetary policies of central banks.
Down the line regulation might come in as governments might want to take control with some now been scared now with how its deregulated leading to outright bans in some countries. It should remain as is imo.
@facebook-sarahrakiel They can only camp down a little bit on fraud but as long as transactions of any kind exists, fraud must exist along side.
