There should be some regulation but some countries are too strict with crypto and tax it really badly. For example in India you say 30% tax to the government for every crypto transaction. This is unacceptable
Fundamentally the essence of crypto is to have a free market. Yes regulations should exist to minimize fraud and malpractice but it would be hard to control it definitively.
It is hard to regulate crypto but it sounds like a good idea to deal with fraud and those pyramid-like schemes
@facebook-kipkemboilagat What kind of pyramid-like schemes are you talking about? Can you give more info please.
@dany Well there are many offerings that come and have all markings of ponzi schemes. The new mining programs for example, which promise excellent returns when you buy into them
@facebook-kipkemboilagat Well if we talk about crypto in gambling I just think that you should use the stable cryptocurrencies for withdrawals. In this case you can't go wrong.
@dany For gambling you will notice that most legit sites accept the stable and reliable cryptos. I encountered one that accepted Pi coins. Well a week later the site was no more hahah
@facebook-kipkemboilagat Yes but when you are betting and you want to withdrawal funds via crypto you won't risk of withdrawing some unknown currency.
well, in my opinion regulation might be double-edged sword. On one side, it could help make cryptocurrencies safer and eliminate financial fraud, but on another side, it kind of attack on the sole purpose of having a decentralized system in the first place. All Governments want control, but the real feature of crypto is the freeedom that it offers.
