Crypto regulation is steadily starting to show up more and more around the world
It is just a matter of time before more and more Crypto Environments will be regulated as the governments around the world is starting their attempts to regulate the wild west of Crypto Currencies.
First of all this is definitely not a bad thing…. Regulation will only bring more structure and more structure and process always leads to better things. South Korea, which have popular crypto exchanges including BitHumb, Korbit and Coinone, has announced through emergency measures that there exchanges should now adhere to specific standards. These crypto exchanges receives around 1 Million visitors per day according to an recent article on Bitcoin.com.
You can read the full article, South Korea Releases Emergency Measures for Crypto Currency Exchanges here
South Korea’s government released emergency measures for cryptocurrency regulation on Thursday. Bitcoin exchanges will now be regulated. Among other measures, there will be a ban on banks, minors, and foreigners trading cryptocurrency as well as a clampdown on virtual bank accounts needed to trade cryptocurrencies in Korea.
I firmly believe that more and more exchanges and other areas within the Crypto Industry will be regulated, including ICO's or Tokensales.
New Zealand Regulation
In the beginning of November New Zealand announced that all tokens and cryptocurrencies are Securities which means these are regulated by the Financial Markets Conduct act in 2014. There are specific rules to adhere by. Some of these rules can be seen in the article All Tokens and Crypto Currencies are securities
What about a Crypto Friendly country
Although more and more countries will regulate Crypto, I am sure that there will also be Crypto Friendly countries, just like we have tax havens around the world. There is just too much money to be made in the Crypto Industry, for this not to happen. What if a country like Zimbabwe, or another African country decides, that they will have no rules around Crypto and just have a specific tax to feed their own pockets and make all ICO's and Crypto Legal in their specific country.
I personally believe that cryptos flourished due to governments keeping their hands out. Read up on Satoshi Nakamoto's White Paper and ideologies...BTC was created as a peer to peer system with NO CENTRAL figure controlling it.
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this is a sign that goverments are running scared or big banks are pushing their agenda, trying to regulate cryptos will back fire on their face and make them even more in demand
Regulations will make it more difficult for new ICOs but also protect the already existing projects in a way. The more regulations, the more early-adopter advantage there is!
Yes because soon the government will attach their "fees" to do everything and anything..
the very principle of criticism and decentralization lies in the lack of control ... more and more people join and invest in the crypto currency, because everyone understands what the future is. States, however, this will not like and they will continue to make attempts to regulate
Good info
All these regulations are just for now.
These are just the few ripple in the beginning.
Crptocurrency is the future and eventually all governments will accept it.
i guess for me the biggest issue is really conversion back to fiats. if we can get enough people who already have resources then trading 'value' with each other instead would be huge -- for instance say i've bought a house and i've got that on a steemit version of airbnb, people from steem/steemit could pay me steem/sbd to stay. no conversion, not switching back to fiats -- we need more endpoints to spend the value of the system but keep it inside this value economy -- of course, that's on a super basic level but you get my point.
also, should be a priority of liberland to work on i think! :)
Good post, and yes, it was only a matter of time before more regulations came into being. Governments have to be involved in everything, but it's not always totally a bad thing, as you mentioned. I think what's much worse is, there are many still that are totally ignorant of cryptos, or know about them, but have absolutely no interest, which is a shame.
Nice post bro @jacor