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[zeljko]

Many people give up trading cryptocurrencies because they are not regulated enough. These are people who play it safe and don't want to risk their money by investing in something that is not legally regulated.

Many states don't actually have a piece of legislation on cryptocurrencies. Banks do not want to pass money to exchange offices because they refer to the law against dealing with foreign currencies, but there is no mention of cryptocurrencies. Banks do not want to risk fines from regulatory agencies, so cryptocurrency traders directly pay money via SEPA transfer or through a third party they get cryptocurrencies which they then trade. Unfortunately, there is a lot of room for different fraudsters.

What is the situation in your countries?

 

[Niftyicon]

My country has decided that regulating crypto and exchanges is not its business so, the help they can offer in that aspect is little to none.
In my opinion, a country that desires to have its people safe, should definitely put measures in place to avoid them becoming victims.

 

[holie]

The government of my country are seriously monitoring and regulating the use of cryptocurrency. They observed that it could be a source for money laundering and finance for terrorism. They are putting so much attention on traders who are using cryptocurrency..

 

[kayode10]

Some people are engaging in money laundry with cryptocurrency in my country and this is affecting the economy of my country. As a result of is the government of my country are placing a ban on some of the platforms and their names people are using to exchange.

 

[holie]

So many countries are coming out with strong measures against people who are trading cryptocurrency in their various country. There are now a new trend of using cryptocurrency for money laundering and it is a crime every government is fighting very hard to stop..

 

[lamia5765]

Cryptocurrency is well regulated in my country because the government still view it as a means people could launder money into and out of the country. Though it does not stop traders from trading them in the popular exchanges.

In some countries like UK there is crypto travel rule means for each transaction there is a need to provide legal name to receive a crypto payment which does not seems as ideal solution especially a full KYC to cash out to faucetpay or trust wallet doesn't seems to be ideal solution.

 

[holie]

The government in my country are still trying to restrict some platforms they think people use to launder money. But people are still trading cryptocurrency without any hindrance.
Though it is not regarded as a legal tender but it is not banned totally..

 

[Wisdom01]

So many countries are coming out with strong measures against people who are trading cryptocurrency in their various country. There are now a new trend of using cryptocurrency for money laundering and it is a crime every government is fighting very hard to stop..

i think is true that many countries are taking strong measures against cryptocurrency trading due to concerns regarding money laundering and other criminal activities. The anonymity and decentralized nature of cryptocurrencies have made them attractive for cybercriminals to conduct illegal activities

 

[lamia5765]

i think is true that many countries are taking strong measures against cryptocurrency trading due to concerns regarding money laundering and other criminal activities. The anonymity and decentralized nature of cryptocurrencies have made them attractive for cybercriminals to conduct illegal activities

If the crypto trading rule applied in the UK is applied for the rest of the countries it would be the saddest part and therefore every transaction needs details of sender.

 

[Wisdom01]

If the crypto trading rule applied in the UK is applied for the rest of the countries it would be the saddest part and therefore every transaction needs details of sender.

yeah this is true , and I feel it would be a negative addiction because many countries might want to start introducing taxes and others , and this would have a negative effect on crypto currency affairs

 

[holie]

If the crypto trading rule applied in the UK is applied for the rest of the countries it would be the saddest part and therefore every transaction needs details of sender.

I personally would not see it as a bad regulations if the senders details are not hidden. Just the way people transfer money across the bank with senders details open for everyone.
If cryptocurrency is regulated that way , all the negatives about them will surely reduce..

 

[Ptrikha90]

Crypto Currencies are taxed in India since last year. The central banker - Reserve Bank of India has in fact restricted Crypto trading and a Government backed CBDC has also been launched.
The measures do not help Crypto in India. It is viewed too much with a negative lens and some people think it a den of Fraud, Terror Funding and more.
That brings out a question : Aren't Fiat currencies being used for the above criminal things?

 

[holie]

Crypto Currencies are taxed in India since last year. The central banker - Reserve Bank of India has in fact restricted Crypto trading and a Government backed CBDC has also been launched.
The measures do not help Crypto in India. It is viewed too much with a negative lens and some people think it a den of Fraud, Terror Funding and more.
That brings out a question : Aren't Fiat currencies being used for the above criminal things?

Many government of the world are now trying to regulate cryptocurrency as they view them as means people use them to finance crime such as terrorism. Because the senders of this cryptocurrency can not be tracked since there are no details about them.

 

[a_jerobon]

Cryptocurrencies don't have any regulations in my country currently. They have not been banned nor are there policies put in place for them. That is why people are still using them freely, I hope that they never ban them completely. They can just put policies for them but I pray they never ban them.

 

[holie]

Cryptocurrency trading and usage are being regulated in my country. The government does not recognize cryptocurrency as medium of exchange or payment. Of recent there are stiff clampdown on most reputable exchange by the government of my country..

 

[Ptrikha90]

Many government of the world are now trying to regulate cryptocurrency as they view them as means people use them to finance crime such as terrorism. Because the senders of this cryptocurrency can not be tracked since there are no details about them.

I understand that some of the Transactions can be used to Fund terror activities.
Yet that happens more with Fiat Money.
Why make genuine people suffer with stricter laws related to Crypto Currency?

 

[holie]

I understand that some of the Transactions can be used to Fund terror activities.
Yet that happens more with Fiat Money.
Why make genuine people suffer with stricter laws related to Crypto Currency?

In my country, trading in cryptocurrency is restricted with stiff regulations. The government are suspecting that people are using that medium to transfer money to money which are used for different negative reasons.
They have no experience and tools to clamp them down..

 

[Ptrikha90]

In my country, trading in cryptocurrency is restricted with stiff regulations. The government are suspecting that people are ........experience and tools to clamp them down..

I understand that Governments are faced with the newer challenges in the form of New Crypto transactions and certain negative trends and indications.
So, they go for the extreme forms of restrictions and even bans.

 

[holie]

I understand that Governments are faced with the newer challenges in the form of New Crypto transactions and certain negative trends and indications.
So, they go for the extreme forms of restrictions and even bans.

So much restrictions going on in the cryptocurrency space. Most government of the world no longer feel safe and secured from the activities of terrorism financing. They believe that most of the money used for terrorism financing pass through the cryptocurrency space and are trying to block them..

 

[IB DD]

In my country, there was a general ban on crypto at first but it was not effective and there was no crackdown on exchanges. But with the uncontrolled spiral of the country's fiat against the dollar, the crypto industry was blamed for it and there was a total crackdown on the entire crypto industry.

 

[holie]

There has been a serious regulations on the cryptocurrency space in my country. The government in my country are concerned and blamed cryptocurrency as the reason there are so much inflation and devaluation of our currency. The regulation are also affecting the citizens..