Regulation of cryptocurrency will be profitable or no?

[Tienda]

I think when the cryptocurrency will be considered globally as an official digital currency, it is possible will not be profitable like now.
Because will be controlled, and they will fix some tax for all traders around the world.

What do you think about?

And do you think his price will be as fiat money price without a high volatility?​

 

[Niftyyem]

The issue of taxing is already in the books for some countries and there is no way government would regulate crypto use without involving tax policies. Even at that, I doubt that will make crypto like fiat and less volatile.

 

[ahmedo24]

Crypto currencies can't become a global currency because of the volatile nature but it can be global commodity just like gold and silver are the moment. This is what I have come to realize after my 3 to 4 studies on Crypto currencies and fiat currency.

 

[BrolySSJ]

I think when the cryptocurrency will be considered globally as an official digital currency, it is possible will not be profitable like now.
Because will be controlled, and they will fix some tax for all traders around the world.

What do you think about?

And do you think his price will be as fiat money price without a high volatility?​

This is an interesting notion, yet the idea behind it makes sense to me. The change in fiat currency value is rather small over the course of time and there are minor fluctuations, therefore there are not many that profit from small investments into forex trading as they do with crypto. However if crypto is regulated then the volatility is likely to reduce in order for it to be deemed a valuable form of payment, and to not affect merchants and buyers, and so in this case, crypto will become more stable. However i think there is years before this happens or is even considered.

 

[Iamsodex]

I think regulating crypto currency would be not be welcomed by very large population of holders like me because of the experience we all have with fiat currencies that we are currently facing like tax being imposed and manipulation of currencies in the market by banks and other big financial institutions

 

[Suba]

Starting early this year, many countries will apply Income Tax on Cryptocurrency, including PayPal, exchange and cloud mining sites like Eobot. They cut income tax from the difference between the selling price and the purchase price. And we must attach Tax ID when withdrawing crypto.

Post automatically merged: Jan 7, 2021

Starting early this year, many countries will apply Income Tax on Cryptocurrency, including PayPal, exchange and cloud mining sites like Eobot. They cut income tax from the difference between the selling price and the purchase price. And we must attach Tax ID when withdrawing crypto.

 

[Josemendez]

I don't support regulation of cryptocurrency because it is going to be abused by those in authority.
Cryptocurrency should be allowed to operate through the block chain . if government wants to earn from taxation on cryptocurrency , then they should endeavor to build a suitable environment for cryptocurrency.

 

[salman Royy]

Most importantly, the Legal and Regulatory Working Group will provide confirmation that Utility Tokens are not prohibited or contravening any local legislation

 

[WhiteHouse]

Any decentralized money can't be controlled or regulated by anyone , however instrument's and tools can be set up to attempt to make it straightforward, For instance monetary standards like Ethereum and Bitcoin are totally Decentralized any Developers can simply push another adaptation on top of it, Replacing it's Merkel Root and Genisis Hash will bring about new cash. So By it's very nature it can't be adjusted once blockchain has been begun. These monetary standards by their very nature shouldn't be managed yet the business associated with this innovation should be directed and will be responsible to the country they have a place with this will bring about securing destiny of end customer and accordingly individuals will have more straightforwardness and trust on digital forms of money.

 

[Lagazine]

Regulating cryptocurrency is not a welcome idea as the whole world cant have it as a general currency. Cryptocurrency is known but can't do the job as a universally accepted currency, so regulating it is not really welcomed. I believe its better to remain decentralised as announced.

 

[Donkiz]

One of the unique features of bitcoin is that it's not decentralized and not regulated by any government or agency, so if it becomes regulated it will lose that uniqueness, the price will definitely crash, and lots of people will lose interest in it.

 

[Sotherefore]

If cryptocurrency is recognised as the official digital currency in the world then I don't see the need of you making profit from it except you are making profit from the already stored cryptocurrency because if such law is implemented then the value of cryptocurrency inside your wallet might increase by 100% or so, so in this case you can benefit from the increase in value but I don't think of any benefit in any other kind of that manner.. except maybe you will be buying and selling of cryptocurrency, if you're doing this one obviously you are buying from the cheapside and selling to the high side which might be profitable.

 

[kaleemullah]

surely the cryptocurrency will be regularized in coming future and is the future of this currency. As the people has ATM online debit and credit cards. they are commonly doing transections though online with the AT cards. there is the history of the transection taken in the month or the years. the governments want to bring people online records of the money inflow and outflow. the have the source of income. the government can control the corruption, block money and money laundering. the government can collect taxes easily

Post automatically merged: Jan 8, 2021

surely the cryptocurrency will be regularized in coming future and is the future of this currency. As the people has ATM online debit and credit cards. they are commonly doing transections though online with the AT cards. there is the history of the transection taken in the month or the years. the governments want to bring people online records of the money inflow and outflow. the have the source of income. the government can control the corruption, block money and money laundering. the government can collect taxes easily

 

[MastetG]

The Tether effect would come into play as it becomes worthless. Those that could get theircrypto out would likely find their own national banks would freeze any deposits from "known"crypto exchanges. For those exchanges and cryptos that do agree to regulation theremight well be some early investing incentives

 

[Ltherman]

thisreninds me about the very essence of cryptocurrency. It was meant to be decentralized and away from the regulating authorities. If the government succeed in having control of the crypto space then the main purpose of a decentralized block chain would have been defeated.

 

[Patrik]

I don't think it will be profitable like it id currently, but atleast it will be safer and under regulations, you will finally know that you are doing something legit and under the protection of the law

 

[Josemendez]

I don't think it will be profitable like it id currently, but atleast it will be safer and under regulations, you will finally know that you are doing something legit and under the protection of the law

Believe me ,you won't want this to happen ,because when it does happen , it will make every cryptocurrency users to pay tax to the government on their profits .it will also lose it value ,because transactions will be controlled and seen by the government

 

[Kamon c4]

Recently the Japanese government imposed income tax on cryptocurrency traders. For any trader whose profit is more than $2000 In a year. Such person have to pay income tax on the profits. I see it as a big development. This proves cryptocurrency trading to be legal and now recognized by their government

 

[Khezo]

Most things controlled by the government would be subject to tax, how will they make money if they dont do that but about regulating crypto I dont think that can be achieved because of its volatile nature and then a large number of people wouldn't want it

 

[Patrik]

Believe me ,you won't want this to happen ,because when it does happen , it will make every cryptocurrency users to pay tax to the government on their profits .it will also lose it value ,because transactions will be controlled and seen by the government

Yes, that's what i actually meant, profit will be way less than the current one, regulation comes at a cost for sure, but there comes other advantages, so it really depends on how you see it and how you think about it