Regulation of cryptocurrency will be profitable or no?

[Ralphjoe]

Government are already planning on regulating the Cryptocurrency market but they are still skeptical about that move as their involvement will give cryptocurrency the legitimacy and legal backing required. There will be no major changes in cryptocurrencies as a result of government regulation.

 

[Sake]

I don't think that will work.. imagine if every country starts regulating Cryptocurrencies wouldn't they start taking tax for each of them? what's gonna be left for investors specially small investors like us. What if they starts dropping crypto because of that

 

[Erik4150]

Regulations of cryptocurrency is not a good idea. If the government is given the opportunity to regulate cryptocurrency they will probably start taxing users according to the amount of crypto they have and this is not good.
Cryptocurrency should be free to use, away from the control of any financial institution or government.

 

[GIFTMICHAEL]

The world controlled by United States of America can not adopt cryptocurrency as digital global currency exchange.

Although cryptocurrency as an investment platform is being regulated but it won't be allowed to form a currency exchange like dollars, Euro and other currency exchange.
It will continue to operate as a digital online currency exchange for investment.
.

 

[Dowenship]

That's If it depends on governmental laws and policies. I mean when the government are in charge of it, then it will no longer be profitable like today by then probably it will be stagnant on one price with first currency. But if no government rule is applied nothing is dropping the profitability.

 

[Kelly5]

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?​

It is inevitable all governments of world to accept cryptocurrency at some point. Regulations will still come in from governments of the world. As you can see, some governments have started using cryptocurrency as a means of exchange for goods and services.

 

[Alexandoy]

Just for the discussion, let's say that the government will consider the crypto currency as a legal tender currency then for sure the tax will be coming by. There will be a lot of changes internally particularly in the production since you cannot produce crypto without a backing in gold or in dollar reserves. But I don't think the popularity of the crypto currency will be much affected with the government takeover. The buyers would still be buying in the hope of gaining a profit.

 

[Dowenship]

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?​

Apart from tax that will be imposed in traders and investors or any asset holders, I believe it will still be profitable at the long run. Because the tax will not eat up the profit definitely.

Post automatically merged: Aug 4, 2021

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.

Am a bit skeptical about it likewise... but it looking real to me that crypto will eventually become a global currency. Recently wee have seen some governmental action on crypto

 

[Nomad]

I do not think crypto currency can be regulated, however, crypto currency exchanges and wallets can be regulated and taxed. If the exchanges and wallets are taxed, I believe it is better for the crypto market.

 

[mcjerry]

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?​

Truly task will be implemented if the government take control of bitcoin. And I see this happening someday. Because I think this is what the founders of bitcoin wants when the whole 21 million bitcoin have been mined

 

[Kingstone]

The fact that it is not regulated by the government makes it susceptible to ban by different countries and the exchange or conversion rate will be high. If they can regulate it, well the profits will be shared but at least we will not be scared of bans. Although we will still find a way round it.

 

[Yusuf]

If the crypto currency exchange Business is regulated it won't be as profitable as it is because Investors will pay tax to the government but that is still very much more good than not regulating it at all

 

[harrypaul]

If the government in the near future can regulate the crypto space, then they will certainly be some taxes put in place for them to also get some revenues from traders.
Some countries who have adopted the currency is already on this, but I don't think this will ever make crypto look like real fiat

 

[Bousine123]

I think a little bit of regulation will make it more stable. It's more volatile today because of the amount of deregulation occuring in the market.

 

[Sotherefore]

Although this will be impossible because of the high volatility in cryptocurrency but I believe a lot of people that have invested in cryptocurrency will make a lot of money with it because the price of cryptocurrency will shoot up.

 

[Elfinito]

Regulating Bitcoin would certainly see a greater fall in the price because the government would take total control of all transaction and it will not be easy to make huge trading and so many investors may have to sell of their units and this may see the price return back to $1 of even less

 

[eLdavis]

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

The truth is that the government is just looking for a way to get their hands on the crypto world. They are just looking for ways to control to control it, as it is in their nature to want to control everything

 

[Justin]

I think regulation will help the market grow. Regulation means, there will be some sort of central authority to check the market and correct the market. This will give confidence to the investors.

 

[Thinker009]

The regulation of cryptocurrency also have its own advantage and less benefit , because the government could actually introduce high taxation to the use of crypto currency by regulating and discourage investors

 

[Bigron]

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?​

Due to their volatility, cryptocurrencies can't replace existing fiat currencies.

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?​

Due to this circumstance, all bitcoin users will be required to pay taxes to the government on their earnings. And also due to this, the number of crypto transactions will lessen leading to the coin’s value being stripped which is regrettable.