why blockchain should not be regulated techcrunch

Last Updated on June 19, 2022 by

Regulating crypto is essential to ensuring its global legitimacy

Regulating crypto is essential to ensuring its global legitimacy

However well intentioned they may be, because these imposed regulations are built on an old system, they must be adapted and modified.

Barely outpacing snails, US lawmakers ponder regulating crypto

Barely outpacing snails, US lawmakers ponder regulating crypto

The proposed legislation, sponsored by Senators Cynthia Lummis and Kirsten Gillibrand, could be a significant win for crypto companies …

Regulators should address crypto 'garbage' first, former SEC …

Regulators should address crypto 'garbage' first, former SEC …

Stablecoins, CFTC oversight are among the first issues U.S. Senate hopes to tackle in bipartisan crypto bill.

Rational regulation is key to US competitiveness in the fintech …

Rational regulation is key to US competitiveness in the fintech …

Many other fintech companies in the international payments space and blockchain/cryptocurrencies are in “regulatory purgatory,” not knowing when …

Three challenges facing blockchain technology – TechCrunch

Three challenges facing blockchain technology – TechCrunch

Technology — and the advancement of blockchain — should not be regulated. In the 1990s, when the internet’s potential was becoming evident, …

Crypto expert says we won't see regulation for years

Crypto expert says we won't see regulation for years

In terms of when we’ll see regulation around cryptocurrencies and the blockchain, it will be years, Kathryn Haun, a professor at the …

How should we regulate DeFi? – TechCrunch

How should we regulate DeFi? – TechCrunch

For example, access to liquidity has long been a central concern not only for cryptocurrency and blockchain projects, but for financial markets …

What does the SEC's warning shot at crypto mean?

What does the SEC's warning shot at crypto mean?

While crypto has been somewhat free from regulation due to its de novo products, it is seeing issues similar to what other financial markets …

The technology, benefits, risks and regulatory measures you …

The technology, benefits, risks and regulatory measures you …

Regulations should not become an unreasonable burden for beneficial blockchain innovation. However, certain minimal regulatory measures …

crypto regulation – TechCrunch

crypto regulation – TechCrunch

crypto regulation · Parsing Coinbase’s regulatory risk · SEC spears ‘Crypto Crusaders’ over alleged pyramid scheme · Regulators should address crypto ‘garbage’ …

Why should Blockchain be regulated?

New regulation also has the potential to protect long-term investors, prevent fraudulent activity within the crypto ecosystem, and provide clear guidance to allow companies to innovate in the crypto economy, according to Aaron Klein, a senior fellow in economic studies at the Brookings Institution, focused on financial …

Can Blockchain be regulated?

Believe it or not, Bitcoin can be regulated. In fact, its regulation has already started with the fiat onramps and adherence to strict KYC and AML laws.

What are the cons of regulating cryptocurrency?

Major problems include:

• Volatility in the market affects a token's ability to serve as a medium of exchange.
• High speculation and artificial pricing continue to persist.
• Many cryptocurrencies still face scalability issues.
• Many blockchain networks struggle to keep up with demand.

Is it good if crypto is regulated?

Stocks are heavily regulated, and these regulations protect investors from fraud and other risks. However, when it comes to cryptocurrencies, government regulations have yet to be put in place. This means the crypto markets carry less certainty with them, and hence, greater risk than the stock market.

Why do governments want to regulate cryptocurrency?

Governments also want to regulate cryptocurrency because it is a very practical means for tax evasion and criminal activity since cryptocurrency payments do not need the clearing authorities of the traditional financial system to operate.

Can Bitcoin be regulated by the government?

In its current form, Bitcoin presents three challenges to government authority: it cannot be regulated, it is used by criminals, and it can help citizens circumvent capital controls. Until the time that Bitcoin's ecosystem matures, it will continue to be viewed with distrust by established authorities.

Can the government regulate Bitcoin?

In its current form, Bitcoin presents three challenges to government authority: it cannot be regulated, it is used by criminals, and it can help citizens circumvent capital controls. Until the time that Bitcoin's ecosystem matures, it will continue to be viewed with distrust by established authorities.

Who is regulating cryptocurrency?

The SEBI may also regulate the trading aspects of crypto transactions. This will boost the confidence of traders, as they will be assured that a proper due diligence of crypto transactions is being conducted, therefore decreasing chances of any embezzlement in such transactions.

Why is it hard to regulate cryptocurrencies?

The common investment instruments in stock markets and banking systems are tangible products and some have a sovereign backing. But crypto-assets are not backed in the real world by assets or commodities. Till now, regulatory frameworks have not been crafted for anything purely intangible.

Why does the government want to regulate crypto?

Governments also want to regulate cryptocurrency because it is a very practical means for tax evasion and criminal activity since cryptocurrency payments do not need the clearing authorities of the traditional financial system to operate.

Is ethereum regulated?

Regulation – Ethereum is currently unregulated by both governments and central banks. If this starts to change over the next few years it could have an impact on ethereum's value.

Is the government going to regulate crypto?

Under a potential new law that has been considered by lawmakers, companies that facilitate crypto trades would be required to report tax information about those trades to the IRS (just as brokers of traditional investments like stocks do) starting in the 2024 tax season.

Who controls the cryptocurrency market?

According to Jan Lansky, a cryptocurrency is a system that meets six conditions: The system does not require a central authority; its state is maintained through distributed consensus. The system keeps an overview of cryptocurrency units and their ownership.

Why is Bitcoin so controversial?

Why Is It Controversial? Many countries including India do not recognize Bitcoins as a legal tender. On the other hand, major economies like the US, China, Japan, etc. have shown this currency a green flag. This territorial conflict puts this currency under the dark clouds of doubt.

Why does government regulate cryptocurrency?

Governments also want to regulate cryptocurrency because it is a very practical means for tax evasion and criminal activity since cryptocurrency payments do not need the clearing authorities of the traditional financial system to operate.

Who controls the Cryptocurrency market?

According to Jan Lansky, a cryptocurrency is a system that meets six conditions: The system does not require a central authority; its state is maintained through distributed consensus. The system keeps an overview of cryptocurrency units and their ownership.

Can the government take your Bitcoin?

Bitcoin is Immune to Government Seizure No local or international governing authority can seize your digital assets. Bitcoin technology has various security features, keeping unauthorized users out of your digital wallet.

Why governments are afraid of Bitcoin?

With the inception of bitcoin, the government loses control over the currency system due to decentralization. As bitcoin's underlying technology does not allow any central authority for any transaction, the government cannot regulate the monetary policy and loses its power. Thus, some economies do not like bitcoin.

Will the government regulate crypto?

Under a potential new law that has been considered by lawmakers, companies that facilitate crypto trades would be required to report tax information about those trades to the IRS (just as brokers of traditional investments like stocks do) starting in the 2024 tax season.

Why governments don t like cryptocurrency?

With the inception of bitcoin, the government loses control over the currency system due to decentralization. As bitcoin's underlying technology does not allow any central authority for any transaction, the government cannot regulate the monetary policy and loses its power. Thus, some economies do not like bitcoin.