Post
Topic
Board Beginners & Help
Re: Crypto Regulation and what it means for the future of crypto currency
by
GbitG
on 18/12/2020, 19:29:12 UTC
There is seemingly a growing desire by government to regulate cryptocurrency. It was once believed that bitcoin was anonymous and can't be traced. This isn't quite true since various techniques have been formulated to trace the transactions and discover the owner. Secondly, Exchanges are under pressure from regulators to introduce compulsory kyc for their customers. Also binance sent a message to its US based customers to stop trading on their platform because their account will be banned. I'm not sure if this has been executed by Binance. Crypto tax is a growing discussion across nations which allow crypto transactions. 
What are your thoughts on these regulations? Do you think it defeats the purpose of bitcoin's creation?
Right now we are facing some serious talks about this all in few countries they are bringing some laws and regulations for bringing this all in network of taxes for this all biggest thing is KYC which mean all data of crypto users because this will give some good access to them so if few countries feel better with this all I believe its ok because still this will spread bitcoin and crypto which is not bad at all.