Will cryptocurrencies have to follow more rules going forward?

[Heatman]

The reason why Cryptocurrency is an headaches to some country is that its decentralization which is beyond government power to regulate

Yeah, it is simply because cryptocurrencies are decentralized that the government of so many countries are fighting against it because they don't really have a way to control it which is why they're trying to have their own cryptocurrency.

 

[joy101]

I think that is possible I know is not US government only, because I don't really know why government will not allow the cryptocurrency to be so that the investors will make money from it.

 

[Chibson]

Cryptocurrency is highly decentralized and that is the reason why some governments are against it because they want to control the financial sector of the country totally but I think it is not possible with cryptocurrency.

 

[tyrim88]

One of the reason most nations wanted to have their own cryptocurency or not allowing the blockchain technology to operate in their country is because of the loopholes in the system,where it could be used to carry out terrorism without any trace.

 

[Kunkun]

Well this could be so because it seems lots of government seems intimidated about the growth and development of Bitcoin and crypto as a whole so they would work in controlling it

 

[Trexxxy]

I would like for you to expatiate further on how cryptocurrencies are a problem to them or their economy. I don't think they can sanction or censor crypto use enough to affect the market.

 

[Alexandoy]

It feels like cryptocurrencies are problematic to the US government. And I think they are going to establish more rules, maybe guidelines for what crypto can be in the US. Maybe they will require certain rules on where the currency can be spent, and how it can be spend.

What do you think is the problem of the government with crypto currency? I am wondering why there are posts like this. Some even say that the government officials are losing sleep on the threat of the crypto currency. The crypto fans are over reacting. Crypto coin is not a currency and it can never be a currency as long as its description remains as such.

 

[HayKay]

All the country's government are just worried for the fact that cryptocurrencies can be misused silently through illegal activities, which is why there is uncertainty over crypto legality in many countries.

I'm not sure that's the main reason that these countries are worried or are trying to set rules. One thing we need to understand is that crypto isn't as abundant as existing currencies - we can't just go mint this stuff like we do paper monies.
So to ensure the sustainability of this thing, there needs to be regulations

 

[Ceeny007]

The government especially the government of the United States of America doesn't like anything they can't control do definitely there will be rules

 

[tuna89]

They definitely will especially when it comes to tracking or tracing of transactions,it will have to follow the fiat rules especially when integrated into the Central Banks

 

[Suba]

Many rules as if America is facing problems with crypto, but in fact American crypto fans don't complain, and crypto trading is smooth, officials or important people who always terrorize crypto are probably whales who want low crypto prices with their dump strategy.

 

[FreshKaz11]

It feels like cryptocurrencies are problematic to the US government. And I think they are going to establish more rules, maybe guidelines for what crypto can be in the US. Maybe they will require certain rules on where the currency can be spent, and how it can be spend.

I have a feeling we're in for a big rule over-hall.

I don't think cryptocurrency is in any way a threat to the US government because they have already out some limit if cryptocurrency coin one could and in a day so what else do they need or want to do about it again.

 

[Blessedsam60]

Yes, it's a big problem just like you said. Even Nigerian government has laid some rules and has kicked against crytocurency trading severally. Bit the fact is that cryto has come to stay.

 

[Sincerem]

Their will always be changes around cryptocurrency in the future before it finally settles down to be accepted worldwide for transactions. At the moment many people are still feeling disillusioned around it due to the coins volatile nature, and decentralized nature.

 

[Justin]

I also believe tougher regulations will be enforced for crypto currencies. This has to be done because the government has to bring crypto currency into the tax frame and have a regulatory system to watch the market.

 

[tyrim88]

Cryptocurrency is highly decentralized and that is the reason why some governments are against it because they want to control the financial sector of the country totally but I think it is not possible with cryptocurrency.

One of the things that has it going for cryptocurency is the decentralise nature of its operations.And most if not all government that love absolute control would not like to relinquish that role.

 

[Kubiat-Abasi]

I can't foreshadow what the future holds for crypto but I hope the the decentralization of crypto currency still stand the test of time.

 

[Elfinito]

Not only in the United States, I think other countries are fighting this same thing, they want to regulate the crypto.
The government feel that crypto would make their currencies less valuable

 

[Good-Person]

I think there will come a time when the rules and regulations regarding the usage of cryptocurrecnies will become stricter. There are certain exchangers that allow you to trade without KYC, but they will require you to pass KYC. Binace is such kind of example. Now KYC is mandatory on Binance.

 

[CeeJase]

One thing that I know that's very common with cryptocurrency behavior is that it even reject its rules and guidelines sometimes with how the price goes.