You need law as things doesn't stay faithful and legal for the entire community, you leave crypto alone and unfortunate cases would definitely happen, there's gains and loses if something is freely exposed and some ppl would simply convert these processes in harmful activities that greatly benefit and harming the innocents, regulation is needed at a global level but that doesn't really match up with current positions from many authorities, there must a relationship for certain party for gains, so do regulation with all those collection of fees
Yes you are very right. A lot of innocent people have been badly hurt by this fraudulent activities since the whole thing is currently free without any form of restriction. The global regulation will help to reduce those frauds.
having laws to protect people is great.
no one is saying no to law. what people are saying is WHICH law
regulations are not a law to protect citizens. the financial crises proved that
consumer protection laws would protect citizens
we should not keep going in circles whre businesses have the upper hand of grabbing funds under trust so they can screw people over. all regulation does is only let certain rich groups get the "trust" to scam later because those rich groups can afford the membersbip. the membership doesnt arrest people for scamming. it arrests people for not being a member
people need to look behind what regulation really is before lobbying for it. again look to the financial criss as a big example of how useless regulation is in regards to consumer protection. realise when regulated the businesses themselves develop and implement their own policies (self regulate) again useless
what PEOPLE need is easy access to ways to get scammy businesses caught. because right now you cant just report a business to th local cops and things happen. and taking them to court is a bureaucratic nightmare.. its consumer protection that needs developing.. not regulation
for those that dont understand.
consumer protection= "power to the people"
regulation= "power to the elite corps"