Investing in medical cannabis. It’s profitable!
Play over 1000+ slots! SPIN NOW! WIN CASH!
Blue
Red
Green
Orange
Voilet
Slate
Dark
  Guest viewing is limited

❕NEWS America may be trying to control Bitcoin and other cryptocurrencies

AudraMiller

Emerald Member
LV
0
 
Joined
Sep 24, 2020
Messages
1,128
Reaction score
28
Points
135
Awards
1
BMF Points
1,140
Rating - 100%
1   0   0
One of the main concerns that many countries tend to have when it comes to cryptocurrencies and its usage, is the fact that they are not regulated, and as such their use cannot be monitored or taxed accordingly. As a result, it seems that the Treasury Department is actually trying to regulate cryptocurrency by proposing a motion whereby cryptocurrency transaction are required to be reported to the Financial Crimes Enforcement Network, as being suspicious. This will occur if the transaction is over $3000. What are your thoughts on this? Do you think that such a motion will affect the usage and growth of cryptocurrency, and mainly Bitcoin?
 

highspeed

Emerald Member
LV
0
 
Joined
Feb 2, 2020
Messages
2,465
Reaction score
112
Points
150
Awards
1
Location
Italy
BMF Points
1,033
Rating - 100%
1   0   0
From my point of view, this control would put more security on cryptocurrency transactions. We remember that for crypto, there is no real bank of theirs.
But in my opinion, we must also consider that if these are checked, I am sure they will have a significant increase in theirs transaction fees.
Are you agree about this last point?
 

Niftyicon

Emerald Member
LV
0
 
Joined
Jul 17, 2020
Messages
4,918
Reaction score
70
Points
135
Awards
1
BMF Points
1,325
Rating - 0%
0   0   0
The truth is that with the security issues we have been having lately with scams and money laundering, I think it is a a good development. There shouldn't be an issue if there is nothing to hide although it would be an extra headache to have to report transactions first.
 

AudraMiller

Emerald Member
LV
0
 
Joined
Sep 24, 2020
Messages
1,128
Reaction score
28
Points
135
Awards
1
BMF Points
1,140
Rating - 100%
1   0   0
From my point of view, this control would put more security on cryptocurrency transactions. We remember that for crypto, there is no real bank of theirs.
But in my opinion, we must also consider that if these are checked, I am sure they will have a significant increase in theirs transaction fees.
Are you agree about this last point?
I think that if it is controlled, an increase in the transaction fees will definitely be evident, because there will be taxes that are added to each of the transaction fees as well which will be a major set back for users in this field.
 

highspeed

Emerald Member
LV
0
 
Joined
Feb 2, 2020
Messages
2,465
Reaction score
112
Points
150
Awards
1
Location
Italy
BMF Points
1,033
Rating - 100%
1   0   0
I think that if it is controlled, an increase in the transaction fees will definitely be evident, because there will be taxes that are added to each of the transaction fees as well which will be a major set back for users in this field.
Obviously, everything, including the control of every transaction, has an additional cost.
So the result will be: more security = more transaction taxes.
 

achawaskey

Emerald Member
LV
0
 
Joined
Sep 26, 2020
Messages
1,278
Reaction score
14
Points
125
Awards
1
Location
Nigeria
BMF Points
5,445
Rating - 0%
0   0   0
I don't think that will affect the use of cryptocurrency, it only a regulation and should be welcome and it will further give confidence to those doing with bitcoin.
 

highspeed

Emerald Member
LV
0
 
Joined
Feb 2, 2020
Messages
2,465
Reaction score
112
Points
150
Awards
1
Location
Italy
BMF Points
1,033
Rating - 100%
1   0   0
I don't think that will affect the use of cryptocurrency, it only a regulation and should be welcome and it will further give confidence to those doing with bitcoin.
No. I'm sorry but maybe I explained myself badly.
I didn't say that this system will affect cryptocurrency. But only and simply that it could takes addition of further taxes on every transnations.
 

rivakwa

Gold Member
LV
0
 
Joined
Jul 11, 2020
Messages
439
Reaction score
2
Points
25
Location
Africa
BMF Points
8,731
Rating - 0%
0   0   0
It
One of the main concerns that many countries tend to have when it comes to cryptocurrencies and its usage, is the fact that they are not regulated, and as such their use cannot be monitored or taxed accordingly. As a result, it seems that the Treasury Department is actually trying to regulate cryptocurrency by proposing a motion whereby cryptocurrency transaction are required to be reported to the Financial Crimes Enforcement Network, as being suspicious. This will occur if the transaction is over $3000. What are your thoughts on this? Do you think that such a motion will affect the usage and growth of cryptocurrency, and mainly Bitcoin?
It may be a good idea,so as to minimize money laundering.The great American dollar is the one number currency of choice in many nations and America controls the crpto,it will boost it values
 

Wisdom01

Sapphire Member
LV
0
 
Joined
Jun 21, 2020
Messages
8,346
Reaction score
64
Points
135
Awards
1
BMF Points
15
Rating - 100%
1   0   0
Yeah its just a means to control and reduce fraud , because most people get scammed through crypto currency , so they are doing this to actually reduce the rate of fraud
 

yolaqueen

Silver Member
LV
0
 
Joined
Feb 27, 2021
Messages
130
Reaction score
2
Points
25
Location
Repúbliva Bolivariana de Venezuela
BMF Points
2,853
Rating - 0%
0   0   0
It would not be unusual for them to try to control the operation of cryptocurrencies, in the very near future most of the commercial transactions will be carried out with cryptocurrencies and they would like to have control of the information.
 

Brain

Emerald Member
LV
0
 
Joined
Dec 27, 2018
Messages
4,466
Reaction score
88
Points
135
Awards
1
Location
Nigeria
BMF Points
3,093
Rating - 0%
0   0   0
I know people that might needs some regulation on btc , for me I don't think it's a bad idea but the issue is that would the control bring positive result, if it would be good then no issues at all.
 

microunit

Emerald Member
LV
1
 
Joined
Nov 27, 2019
Messages
4,367
Reaction score
213
Points
150
Awards
5
BMF Points
353
Rating - 0%
0   0   0
I doubt that anyone could control a large crypto like bitcoin, it may be true though that one can control a small crypto like that entity would limit the circulating supply to an extent to control the price
 

anil02

Platinum Member
LV
0
 
Joined
Dec 11, 2018
Messages
500
Reaction score
15
Points
25
Age
59
Location
India
BMF Points
4,146
Rating - 100%
1   0   0
Most of trading in crypto is online so it is not easy to control it. In India trading is banned but many peoples are doing trading of it. But if any one can control on it than it good for investors. India may be launch its own crypto.
 

highspeed

Emerald Member
LV
0
 
Joined
Feb 2, 2020
Messages
2,465
Reaction score
112
Points
150
Awards
1
Location
Italy
BMF Points
1,033
Rating - 100%
1   0   0
I doubt that anyone could control a large crypto like bitcoin, it may be true though that one can control a small crypto like that entity would limit the circulating supply to an extent to control the price
Well, I would think the same too.
After all, cryptocurrencies don't have their own bank.
But tell me: what are the banks unable to do today?
 

Rollerkid

Sapphire Member
LV
0
 
Joined
Apr 29, 2020
Messages
5,105
Reaction score
80
Points
135
Awards
3
BMF Points
674
Rating - 0%
0   0   0
One of the main concerns that many countries tend to have when it comes to cryptocurrencies and its usage, is the fact that they are not regulated, and as such their use cannot be monitored or taxed accordingly. As a result, it seems that the Treasury Department is actually trying to regulate cryptocurrency by proposing a motion whereby cryptocurrency transaction are required to be reported to the Financial Crimes Enforcement Network, as being suspicious. This will occur if the transaction is over $3000. What are your thoughts on this? Do you think that such a motion will affect the usage and growth of cryptocurrency, and mainly Bitcoin?
Depending on how they will be checking those that transact crypto currencies above the $3000 mark they will be implementing. If the process will be long for someone to transact above that mark, l think it will reduce the growth of crypto currencies.
 

Josemendez

Sapphire Member
LV
0
 
Joined
Apr 8, 2019
Messages
7,161
Reaction score
231
Points
150
Awards
1
BMF Points
12,749
Rating - 0%
0   0   0
One of the main concerns that many countries tend to have when it comes to cryptocurrencies and its usage, is the fact that they are not regulated, and as such their use cannot be monitored or taxed accordingly. As a result, it seems that the Treasury Department is actually trying to regulate cryptocurrency by proposing a motion whereby cryptocurrency transaction are required to be reported to the Financial Crimes Enforcement Network, as being suspicious. This will occur if the transaction is over $3000. What are your thoughts on this? Do you think that such a motion will affect the usage and growth of cryptocurrency, and mainly Bitcoin?
This will only be effective within the US soil . Other countries and cryptocurrency lovers outside US have nothing to be afraid of .
 

BullyMaguire

Emerald Member
LV
0
 
Joined
Nov 9, 2019
Messages
2,468
Reaction score
48
Points
135
Awards
2
BMF Points
1,433
Rating - 0%
0   0   0
Im not from the US but i think it will also affect everyone if they do this. Because holders and investors on US will get held back since they use a lot of money in it
 
Similar threads
Thread starter Title Forum Replies Date
Tanvin Hasan ☑️NEW america.btcporn.xyz Reviews: SCAM or LEGIT? HYIPs Forum 0
aryan4 ❕NEWS North America's First Bitcoin ETF Receives Canada Approval Bitcoin Forum 9
aryan4 ❕NEWS America's Oldest Bank, BNY Mellon, Will Offer Bitcoin and Crypto Money Service Bitcoin Forum 14
aryan4 ❕NEWS Bank Of America Survey: Bitcoin Long - Dollar Short Bitcoin Forum 6
Tanvin Hasan ☑️NEW investors-america.com Reviews: SCAM or LEGIT? HYIPs Forum 0
fola00999 Hello, my name is Fola, new to this site and I live in the United States of America Introductions 0
H I'm hunny bunny from america. Introductions 1
De-rector ❕NEWS America e-payment platform has aquired Nigerian base e-payment platform. Businesses & Individuals 71
De-rector ❕NEWS Easily spend your bitcoin via prepaid card or via PayPal with Bitcoin bank of America. Crypto Currencies 16
Emoney ❕NEWS Bitcoin's total marketcap is nearing Bank of America's total marketcap Bitcoin Forum 20
Emoney ❕NEWS A group of banking trojans are targeting Latin America's crypto users Crypto Currencies 5
shadowangel $10USD BTC BONUS & Chance To Win 1BTC - Simply Trade $100USD - UK, EU, America, Australia, Asia @ Coinlist.co Airdrops Forum 5
shadowangel $20 USD (Crypto:Eth) Signup BONUS After $100 Deposit - Instant Bonus/Instant Withdrawal - UK,EU,AU (World Wide) Except America @ Aximetria App Airdrops Forum 11
NoLimits15 Bitcoin Trading Very High In Latin America Crypto Currencies 7
shadowangel $10USD BONUS BTC & Chance To Win 1BTC Trade $100USD UK, EU, America, Australia, Asia @ Coinlist.co Airdrops Forum 13
NoLimits15 ❓ASK Bitcoin of America helps beginners get started with cryptocurrency Bitcoin Forum 36
pras111 ❓ASK The price of Bitcoin in Iran reaches 330 million, the effect of tensions with America Bitcoin Forum 26
Yugocean ☑️NEW america-oilminer.website Reviews: SCAM or LEGIT? HYIPs Forum 0
S ☑️NEW Springboard America Reviews: SCAM or LEGIT? Best Paid Surveys 3
K ☑️NEW Airdrop ShapePay - Hotbit will launch SPP on May 6th, 2021 Airdrops Forum 0
Josemendez ❕NEWS Binance centralized nature may be a problem for Binance Crypto Currencies 17
CrazySher ❕NEWS Bitcoin price up $3000 in 3 hours, may touch $4,00,000 this year Bitcoin Forum 28
aryan4 ❕NEWS India May Block IP Addresses of Cryptocurrency Exchanges Bitcoin Forum 15
aryan4 ❕NEWS Failure to report cryptocurrency transaction in South Korea may require imprisonment Bitcoin Forum 20
aryan4 ❕NEWS Hedge fund manager; US may want to prevent funds from flowing into Bitcoin and gold Bitcoin Forum 4
AudraMiller ❕NEWS Ethereum options are set to expire - Price increase may be halted Crypto Currencies 11
AudraMiller ❕NEWS Nigeria may be looking at changing its stance on cryptocurrency Crypto Currencies 31
AudraMiller ❕NEWS Morocco may be looking to launch its own digital currency Crypto Currencies 22
aryan4 ❕NEWS Hong Kong May Ban Crypto Investments Bitcoin Forum 14
AudraMiller ❕NEWS The Binance coin (BNB) may be set for a price fall Crypto Currencies 29
AudraMiller ❕NEWS Bitcoin may rise to $65k next month! Crypto Currencies 12
CrazySher ❕NEWS India may be ban bitcoin and other crypto currencies Bitcoin Forum 19
aryan4 ❕NEWS Chainlink (LINK) May Go Above $ 27, According to Analyst Altcoins Forum 6
AudraMiller ❕NEWS Dollar printing may cause the price of Bitcoin to surge Crypto Currencies 28
AudraMiller ❕NEWS Miami may be offering Bitcoin salaries to city employees Crypto Currencies 29
AudraMiller ❕NEWS Grayscale may cause the next bull run in the bitcoin market Crypto Currencies 10
aryan4 ❕NEWS Grayscale may be preparing new fund for 5 cryptocurrencies Altcoins Forum 13
aryan4 ❕NEWS Dubai may soon make crypto regulations Altcoins Forum 6
bossing May's INTRO.. Introductions 0
onlyprofits ❕NEWS ETH may soon hit an all-time high again Crypto Currencies 9
aryan4 ❕NEWS eToro may limit purchases of Bitcoin this weekend Bitcoin Forum 4
Sadak ❓ASK Do you think bitcoin may reach 50k on 2021? Bitcoin Forum 23
AudraMiller ❕NEWS XRP may be sued by the SEC Crypto Currencies 20
AudraMiller ❕NEWS Christopher Wood may be moving from Gold to Bitcoin Crypto Currencies 5
AudraMiller ❕NEWS Andrew Wilkinson may be interested in bitcoin Crypto Currencies 9
AudraMiller ❕NEWS The US Treasury department may be looking to a new KYC verification Crypto Currencies 8
NoLimits15 ❕NEWS Wells Fargo Bank Tells Investors That Cryptocurrencies May Have Potential Crypto Currencies 4
NoLimits15 ❕NEWS Satoshi Nakamoto May Have Lived In London. New Report Suggests Crypto Currencies 4
AudraMiller ❓ASK Reasons why bitcoin may not be embraced by the financial sectors Bitcoin Forum 24
AudraMiller ❕NEWS Bitcoin price may be set for a downhill spiral if the pas is anything to go by Bitcoin Forum 13

Similar threads

REWARDS: Active Raffles


  • Roll 21: Win 100,000 BMF Points!

    The entry period for this raffle ends in..

Top Bottom

Earnings Disclaimer:  All the posts published herein are merely based on individual views, and they do not expressly or by implications represent those of BeerMoneyForum.com or its owner. It is hereby made clear that BeerMoneyForum.com does not endorse, support, adopt or vouch any views, programs and/or business opportunities posted herein. BeerMoneyForum.com also does not give and/or offer any investment advice to any members and/or it's readers. All members and readers are advised to independently consult their own consultants, lawyers and/or families before making any investment and/or business decisions. This forum is merely a place for general discussions. It is hereby agreed by all members and/or readers that BeerMoneyForum.com is in no way responsible and/or liable for any damages and/or losses suffered by anyone of you.