Sword of regulatory curbs hangs over cryptocurrency investors

[webfact]

The photo shows physical imitations of cryptocurrency in Dortmund, western Germany, on January 27, 2020. (Photo by INA FASSBENDER / AFP)

 

Cryptocurrency holders are staring at an uncertain future, as the authorities are at a crossroads on how to regulate the use of digital assets amid their increasing popularity. 

 

Investors who envision a big role for cryptocurrency in the economy may have to rethink their options as the authorities are close to rolling out new measures to regulate virtual money.

 

While the emergence of cryptocurrency and other forms of digital assets may add value to the economy by opening up opportunities to businesses and individuals, they are also associated with risks.

 

Full story: https://www.thaipbsworld.com/sword-of-regulatory-curbs-hangs-over-cryptocurrency-investors/

 

-- © Copyright Thai PBS 2021-12-06

 

- Whatever you're going through, the Samaritans are here for you

- Follow ASEAN NOW on LINE for breaking COVID-19 updates

[mvdf]

No end to meddlers and bureaucrats envious of early birds and successful investors in this sector. 

[Pedrogaz]

I'd invest in a government backed crypto. Not looking to speculate, simply to retain purchasing power of money. There are too many things about Bitcoin that make me very suspicious eg trading is very thin and a handful of folks make 80% or 90% of the daily transactions which sounds like a cartel of investors driving up the price selling to each other. 

The other thing, that I read was that blockchains are very slow to process transactions, about a million times slower than say Visa or AMEX transactions, and that this would limit the technology. I have never read any update saying that it has become faster.

Finally the spectre of governments stepping in and destroying value for existing investors on the basis that blockchain was laundering money from criminal activities (which it is) .

For these reasons I have avoided digital currencies. Does anyone have different information?

[GrandPapillon]

"investors" are mostly "small players trying to get rich at all cost" and "criminals"

 

shutting them down is not going to cost a thing in terms of global financial losses, they are "liabilities"

[roquefort]

1 hour ago, Pedrogaz said:

I'd invest in a government backed crypto. Not looking to speculate, simply to retain purchasing power of money.

I'd avoid all government backed cryptos. They're just digital fiat currencies. They can be created at will by spendthrift governments, with the added beneft (for them) that they can track every transaction you make.

 

At least Bitcoin is theoretically inflation proof. There will only ever be 21 million bitcoins.

[mjnaus]

5 hours ago, webfact said:

Investors who envision a big role for cryptocurrency in the economy may have to rethink their options as the authorities are close to rolling out new measures to regulate virtual money.

 

Let's rephrase this, shall we? 

 

Regulators who envision a limited, reduced role for cryptocurrency in the economy may have to rethink their options as they gradually come to terms with the fact that their permission is irrelevant and not needed.  

[Lemsta69]

FUD

[ukrules]

2 hours ago, Pedrogaz said:

I have never read any update saying that it has become faster.

Perhaps it's time to read the updates....

[Monkeyrobot]

2 hours ago, GrandPapillon said:

"investors" are mostly "small players trying to get rich at all cost" and "criminals"

 

shutting them down is not going to cost a thing in terms of global financial losses, they are "liabilities"

Elon Musk, Jack Dorsey, Michael Sailor, Goldman sacks, Black Rock , Are just a few of millions of large investors, they see the future of Block Chain technology.

[roquefort]

3 hours ago, GrandPapillon said:

"investors" are mostly "small players trying to get rich at all cost" and "criminals"

 

shutting them down is not going to cost a thing in terms of global financial losses, they are "liabilities"

Using your argument governments should ban cash because criminals use it................oh, hang on, they already have.

[GrandPapillon]

10 minutes ago, roquefort said:

Using your argument governments should ban cash because criminals use it................oh, hang on, they already have.

now you are catching up, governments are not interested in cryptos for that very reason. They want to trace everything. Big stash of cash is definitely a criminal offense in most developed countries now.