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Regulation or outright ban of cryptocurrency ?

  • Thread starter Thread starter Josemendez
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Josemendez

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Over the years , cryptocurrency has been a big threat to the Fiat currency and this has been of concern to many countries especially the ones that cryptocurrency is legal in. Some government are planning on regulating it rather than outright ban ,while some are planning to ban it.

Cryptocurrency has grown to an extent that banning it will attract a lot of crises in the country where it is being used. Citizens especially the unemployed youths won't take it easy with the government as this will make then jobless again. Governments on their own has seen that with regulation , they can be able to benefit from taxation , prosecution of tax evaders and prevention of fraudulent fundings. They are also aware that cryptocurrency will help to reduce inflation.

Nevertheless , banning cryptocurrency may not be such a bad idea because the saving of money in cryptocurrency will have negative effect on the Fiat currency and the economy of the country in general. It's annoymous nature is another point that supports it's ban.

As for me , I think regulation is the best approach to be used as it will benefit both Citizens and the government. When it is regulated , there will be full knowledge of the crypto to Fiat transaction and the annoymous nature won't really be a problem as when there is a transfer from Fiat to crypto or vice versa , the government will be aware of it. .
In your opinion , so you think outright ban is the right call for cryptocurrency or a regulation of it ?
 
Josemendez said:
Over the years , cryptocurrency has been a big threat to the Fiat currency and this has been of concern to many countries especially the ones that cryptocurrency is legal in. Some government are planning on regulating it rather than outright ban ,while some are planning to ban it.

Cryptocurrency has grown to an extent that banning it will attract a lot of crises in the country where it is being used. Citizens especially the unemployed youths won't take it easy with the government as this will make then jobless again. Governments on their own has seen that with regulation , they can be able to benefit from taxation , prosecution of tax evaders and prevention of fraudulent fundings. They are also aware that cryptocurrency will help to reduce inflation.

Nevertheless , banning cryptocurrency may not be such a bad idea because the saving of money in cryptocurrency will have negative effect on the Fiat currency and the economy of the country in general. It's annoymous nature is another point that supports it's ban.

As for me , I think regulation is the best approach to be used as it will benefit both Citizens and the government. When it is regulated , there will be full knowledge of the crypto to Fiat transaction and the annoymous nature won't really be a problem as when there is a transfer from Fiat to crypto or vice versa , the government will be aware of it. .
In your opinion , so you think outright ban is the right call for cryptocurrency or a regulation of it ?
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Its a common sense which I believe the government will benefit. if there is regulation regarding crypto currency its an advantage of lifting poverty from the country directly or indirectly.
 
Dowenship said:
Its a common sense which I believe the government will benefit. if there is regulation regarding crypto currency its an advantage of lifting poverty from the country directly or indirectly.
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Well said but the question still remain , will the government be able to allow favorable regulation or only those that will favour their own Interest ?
 
Well I don't know how regulator of crypto currency should be determined. There are countries tht their government fell regulation of crypto is very essentially and again wether they benefit or not
 
Didosky said:
Well I don't know how regulator of crypto currency should be determined. There are countries tht their government fell regulation of crypto is very essentially and again wether they benefit or not
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Actually regulation of cryptocurrency related activities is very important towards the growth countries economy because these Regulations ensures that fraudulent activities and money laundering is reduced.
 
Josemendez said:
Over the years , cryptocurrency has been a big threat to the Fiat currency and this has been of concern to many countries especially the ones that cryptocurrency is legal in. Some government are planning on regulating it rather than outright ban ,while some are planning to ban it.

Cryptocurrency has grown to an extent that banning it will attract a lot of crises in the country where it is being used. Citizens especially the unemployed youths won't take it easy with the government as this will make then jobless again. Governments on their own has seen that with regulation , they can be able to benefit from taxation , prosecution of tax evaders and prevention of fraudulent fundings. They are also aware that cryptocurrency will help to reduce inflation.

Nevertheless , banning cryptocurrency may not be such a bad idea because the saving of money in cryptocurrency will have negative effect on the Fiat currency and the economy of the country in general. It's annoymous nature is another point that supports it's ban.

As for me , I think regulation is the best approach to be used as it will benefit both Citizens and the government. When it is regulated , there will be full knowledge of the crypto to Fiat transaction and the annoymous nature won't really be a problem as when there is a transfer from Fiat to crypto or vice versa , the government will be aware of it. .
In your opinion , so you think outright ban is the right call for cryptocurrency or a regulation of it ?
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I believe that regulation is the best thing to do when it comes to cryptocurrency. I don't really really like the idea of banning cryptocurrency. Those people who would like to ban it like banks where people used to deposit their money no longer deposit there because cryptocurrency will offer higher interest in investment like high yielding program that are legitimate.
 
I don't think banning crypto currency exchange Business is the best way to solve crypto currency exchange Business all over the world. At least I think the best government can do is to find means to regulate it
 
Regulation will obviously be my take here seeing that I am a cryptocurrency investor and trader as well. Outright bam will only add to the employment problem we're already facing globally
 
Depending on the country, some government regulations is for the benefit for their citizens and for them also while that of other government is for their own benefit alone.
 
Well as far as I'm concerned I don't believe that is going to be possible to burn cryptocurrency completely all over the world but I believe that they will be able to suppress it for a little bit.
 
At present crypto coin is not legal in many countries except in El Salvador and maybe in some small countries as well. But for sure it is not legal in the US and in Europe. Anyway, I think big countries will regulate the crypto industry if they feel that it is doing good for the economy.
 
Personally I believe that it's all along in the plans of government all over the world to have a big say in how cryptocurrencies are used, and it's what they are doing now.
 
If group of cryptocurrencies begin to get regulation of any kind then I think it no longer becomes cryptocurrencies because the original in is going to be defeated.
 
I am for regulations. Banning will not solve any problems because you might ban but crypto currencies are digital money that will still operate even if the country bans it outright. Regulations will help the government earn revenue through tax.
 
This very common, it's happens in my country. Currently as I'm speaking to you know cryotocurrency has been banned in my country.
 
There is a lot of public money invested in crypto currency. When the government bans crypto currency, it is the public who will lose the investment.
 
I prefer regulation than outright ban. To be honest xi am even beginning to like the regulation done in my country, Nigeria, when I started comparing it with those regulations of another countries. Banning will only allow citizens to lose everything and means of livelihood.
 
Senator said:
Regulation will obviously be my take here seeing that I am a cryptocurrency investor and trader as well. Outright bam will only add to the employment problem we're already facing globally
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I am also going with the regulation of crypto currency because most youth at into the investment of crypto currency, and the outright ban will really lead to more unemployment .
 
That is what a lot of countries are believing on that cryptocurrency is a threat to their Fiat currency and the economy of their country at large, but I don't even know if this is the fact, if this is true then other countries like the United States and the United Kingdom will not allow cryptocurrency in their country.
 
I agree with you. Regulation of crypto currencies will be better than an outright ban of crypto currencies, that way it would benefit both the government and citizens.
 
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