Do you think there needs to be more laws and regulations on Crypto?

[Grant]

I think Cryptocurrency has a bright future, but it also has a dark one, simply put, crypto can be used to scam people. The problem comes from making sure everyone is safe when they use crypto. I think more laws and regulations need to be put in place. Especially more safeguards when it comes to our hard earned money. Would you agree?

 

[Nomad]

HUndreds of thousands of people lost millions of dollars when Squid Game Tonkens or even Terra Luna turned Rugpulled. Hundreds of thousands of people lost millions of dollars when FTX and Celsius collapsed. These are just a few cases, there are a lot of similar cases. if there were laws to monitor these companies, people would never lose their investments. Therefore, I believe we need more laws to regulate crypto.

 

[Heatman]

HUndreds of thousands of people lost millions of dollars when Squid Game Tonkens or even Terra Luna turned Rugpulled. Hundreds of thousands of people lost millions of dollars when FTX and Celsius collapsed. These are just a few cases, there are a lot of similar cases. if there were laws to monitor these companies, people would never lose their investments. Therefore, I believe we need more laws to regulate crypto.

This is actually part of the reason government are clamping down on the use of cryptocurrency becoming legitimate because a lot of companies are set up in a way to scam people in a very big way. And all in the name of investing in cryptocurrency over a short period of time.

 

[Riberet19]

I believe that all assets that are within the world economic system must have a relevant regulation, regulations in general are not bad, it all depends on how well they are made and if it adapts correctly to the specific asset, although they can also be malicious and destroy the asset, such as the actions that the SEC is taking against crypto, I don't think they are friendly regulations, I think regulations are necessary, but fair regulations.

 

[Adegbe12]

I think Cryptocurrency has a bright future, but it also has a dark one, simply put, crypto can be used to scam people. The problem comes from making sure everyone is safe when they use crypto. I think more laws and regulations need to be put in place. Especially more safeguards when it comes to our hard earned money. Would you agree?

Yes there's need to safeguard especially when it comes to fake crypto app

 

[Heatman]

I believe that all assets that are within the world economic system must have a relevant regulation, regulations in general are not bad, it all depends on how well they are made and if it adapts correctly to the specific asset, although they can also be malicious and destroy the asset, such as the actions that the SEC is taking against crypto, I don't think they are friendly regulations, I think regulations are necessary, but fair regulations.

If it is all up to SEC, they would definitely ban cryptocurrency all over the world because their policies are never in support of cryptocurrency and they are doing everything possible they can to suppress cryptocurrency transaction. Take a look at what they did to Ripple, it is very heartbreaking.

 

[Riberet19]

If it is all up to SEC, they would definitely ban cryptocurrency all over the world because their policies are never in support of cryptocurrency and they are doing everything possible they can to suppress cryptocurrency transaction. Take a look at what they did to Ripple, it is very heartbreaking.

Well I don't think they want to ban them, I think they mainly want to control them, or if they do seek a ban they would perhaps ban them for retail investors, possibly claiming it's to protect them as they carry a lot of risk.

 

[Heatman]

Well I don't think they want to ban them, I think they mainly want to control them, or if they do seek a ban they would perhaps ban them for retail investors, possibly claiming it's to protect them as they carry a lot of risk.

If they end up not being able to control cryptocurrency, I believe that the final straw they are going to draw is ban it officially to make sure that there is no kind of transaction it is going to be allowed to facilitate, which is going to be very bad for a lot of people who are making use of cryptocurrency.

 

[Riberet19]

If they end up not being able to control cryptocurrency, I believe that the final straw they are going to draw is ban it officially to make sure that there is no kind of transaction it is going to be allowed to facilitate, which is going to be very bad for a lot of people who are making use of cryptocurrency.

Actually, the dome of power of many countries knew of the existence of cryptocurrencies almost from their conception, if they wanted to have controlled them they would have already done it or already do it but in the shadows, before we started investing in them, governments already knew all their characteristics and everything about them, probably even who Satoshi Nakamoto is.

 

[Busybee]

It's important to note that cryptocurrency regulations are evolving rapidly, and the legal status of cryptocurrencies can change. It is different in different countries and it is advisable to consult local laws and regulations in one's specific jurisdiction for the most up-to-date information.

 

[Skysaint]

Maybe. But payment of taxes and limit to how much one can have in their account shouldn't be one of these regulations else I will be against it. Not that I don't like paying taxes but the government is just corrupt.

 

[Heatman]

Actually, the dome of power of many countries knew of the existence of cryptocurrencies almost from their conception, if they wanted to have controlled them they would have already done it or already do it but in the shadows, before we started investing in them, governments already knew all their characteristics and everything about them, probably even who Satoshi Nakamoto is.

One thing I know that is very certain is that the government will keep on making laws that is always going to target cryptocurrencies in a way that they can have some sort of control over it but in reality, they cannot have the kind of control that they want over cryptocurrency because the moment they do, it is going to put cryptocurrency in a position where it is not going to have that power that made it what it is.

 

[stan358]

I think more rules and regulations should put in place to safeguard cryptocurrency. Because of its decentralization most people abuse the use of cryptocurrency. People can use them for money laundry without any trace..

 

[Riberet19]

One thing I know that is very certain is that the government will keep on making laws that is always going to target cryptocurrencies in a way that they can have some sort of control over it but in reality, they cannot have the kind of control that they want over cryptocurrency because the moment they do, it is going to put cryptocurrency in a position where it is not going to have that power that made it what it is.

I only see one way that they can have some control over the cryptocurrency, more than they have today for example, apart from regulations, if they create CBDCs controlled by a central bank, they will have control of all the money that goes into Crypto, so they will know who has cryptocurrencies and who does not, no matter how much we hide it, because everything will be more traceable, unless you mine cryptocurrencies that here there will be no way to know, I guess.

 

[Henrywrites]

I think Cryptocurrency has a bright future, but it also has a dark one, simply put, crypto can be used to scam people. The problem comes from making sure everyone is safe when they use crypto. I think more laws and regulations need to be put in place. Especially more safeguards when it comes to our hard earned money. Would you agree?

If the regulations is towards having the big guys in the industry being controlled, then I support it. I have seen some popular coins dip and even disappear as a result of some misappropriation of funds during the launching and afterwards. Aside that, I believe that everything is going as planned.

 

[Heatman]

I only see one way that they can have some control over the cryptocurrency, more than they have today for example, apart from regulations, if they create CBDCs controlled by a central bank, they will have control of all the money that goes into Crypto, so they will know who has cryptocurrencies and who does not, no matter how much we hide it, because everything will be more traceable, unless you mine cryptocurrencies that here there will be no way to know, I guess.

I believe that's more likely the best way they can ever come very close to having super control over cryptocurrency if they can be able to pass the bill. A lot these government have slush funds hidden in cryptocurrency and they won't want it becoming a public knowledge because they have no way to give an explanation for the source of the funds.