Regulation of Cryptocurrency

[stoch]

I don't care about regulations because I trade CFD on BTC at Hotforex, they take all counterparty and bankruptcy risks, also there is no hassle when withdrawing profits because money come from regulated entity.

 

[Kazil]

Cryptocurrencies should be regulated but they will never be. The governments cannot afford having the currency the transactions of which are impossible to track down.

 

[Hulu Girl]

Currently, there is no regulation or any ban on the use of cryptocurrencies in the country. The Reserve Bank of India's (RBI) order banning banks from supporting crypto transactions, was reversed by the Supreme Court order of March 2020.

 

[Shanrad]

I quite agree with your words. I would also note some of the reasons basically. It prevents market manipulation and protect investors, Market manipulation and price volatility are common in cryptocurrencies. Moreover, a regulatory authority clearing cryptocurrency is required, which can disclose all information about the performance of the digital assets, their risks, and potential. Through regulations, the authorities can implement measures to help cryptocurrency investors protect their assets from crypto hackers. So, these are my reasons why crypto have to be regulated. It's just the same currency as physical ones, but it's a digital one.

 

[Hulu Girl]

Currently, there are no regulations or any bans on the use of cryptocurrencies in the country. The Reserve Bank of India’s (RBI) order banning banks from supporting crypto transactions was overturned by the Supreme Court’s March 2020 order.

 

[TerryWood41]

Indeed, trading cryptocurrencies in the financial markets offers unlimited opportunities for earning: profits can be made on both the rise and fall of quotes.

 

[stoch]

Cryptocurrency exchange is certainly a profitable job, but the risk of losing everything is always present.

Yeah there is big systemic risk - regulatory tightening or hacking. It's quite unobvious at first sight that's why traders tend to underestimate adverse outcomes in this business.

 

[Hev_Leo27]

Anyone here after what's happened with Veracity Markets? I do agree that regulation can provide a safety net, but I'd say that things are going the opposite way for all of those people that have their money being held by them.

 

[Koloss]

I think the regulators need to bring in new blood if they do because if they are anything like HMRC in the UK related to tax then they haven't got a clue.

 

[stoch]

I think regulation should improve and get more stricter in the crypto filed especially if market players want to enlist countries where crypto is popular. This should help to generate more trading volume and create more trading opportunities.