Regulate Crypto?

[Anonymous No.7197946]

Alright pink wojacks, I know it's been a rough day... They even talked about it on the news, it was fucking weird to get my crypto news along with my stock info all on the same radio station.

That being said one of the reasons they gave for justifying the drop was speculation of increased regulations on the market and it got me thinking...
How the fuck would this even work in reality?
Would it even be possible to effectively regulate crypto currency markets?
How would they do it?

Anyone know the answers? Lets discuss to take our minds off our bleeding wallets.

[Anonymous No.7198052]

>USG declares it illegal for any bank to facilitate USD<>crypto transactions

[Anonymous No.7198155]

>>7198052
Well, I'm jsut a lowly retard, but eventually people are going to start cutting banks and USD out of the action all together ESPECIALLY if they do something heavy handed like this. Frankly I don't think illegality is going to make the problem go away, if anything it'll make the problem worse. I don't even think it's an option at this point. How would they justify that to all the bag holders?
It's too late for this shit.

I mean, crypto is here to stay, in one form or another. Blockchain tech is not going away, ever. How will USD compete if I can go to online stores that ONLY except the most stable cryptos around (once the wild west dust settles that is)?

[Anonymous No.7198714]

>United States

>The United States, at the time of this writing, has no coherent direction on its cryptocurrency regulation other than that there will be some soon. The Securities and Exchange Commission (SEC) has warned investors of cryptocurrency investing risks, halted several ICOs and hinted at the need for greater cryptocurrency regulation.

>The Commodity Futures Trading Commission (CFTC) became the first U.S. regulator to allow for cryptocurrency derivatives to trade publicly, then organized meetings to talk about possibly changing the rules for cryptocurrency derivatives clearing (one of the meetings was postponed due to the federal government shutdown).

>Secretary of the Treasury Steve Mnuchin has indicated a preference for minted fiat currency over cryptocurrency. Speaking on January 12, 2018, at the Economic Club in Washington, D.C., Secretary Mnuchin warned those in attendance that he and other regulators were looking into the possibility that cryptocurrency could be used in money-laundering activities. >The secretary then announced to the group that the Financial Stability Oversight Council (FSOC) had formed a working group to explore the cryptocurrency marketplace and that he hoped to work with the G20 to prevent bitcoin from becoming a digital equivalent of a “Swiss bank account.”

>Defending his stance to World Economic Forum attendees on January 25, 2018, Mnuchin explained that his number one focus on cryptocurrency was “to make sure that they're not used for illicit activities.”

>On January 26, 2018, U.S. Treasury Deputy Director Sigal Mandelker echoed the secretary’s sentiments after a visit to China, South Korea and Japan. At a press conference in Tokyo, she applauded the three Asian countries for keeping tabs on cryptocurrency trading, stating, “We feel very strongly that we need to have this kind of regulation all over the world.”

[Anonymous No.7198735]

>>7198714
>It should be noted that non-U.S. investors may have concerns over clearing licensing hurdles put up individually by the states. If the U.S. treats cryptocurrencies as currency, it seems more likely that the actions by the federal government and federal regulatory agencies would preempt states’ licensing. However, if treated as “securities” (the SEC has not completely cleared the issue up), cryptocurrencies, especially ICOs, would have to clear “blue sky laws” on a state-by-state basis.

[Anonymous No.7198860]

>>7198714
we all knew (((they))) will try to regulate the shit out of crypto at a certain point. Here's to hoping (((they))) fail miserably

[Anonymous No.7198937]

>>7198860
The point of this thread is speculation on how this shit would even work.

For one thing, if your crypto curency never converts back to FIAT, then what the fuck are they going to do?

[Anonymous No.7198999]

>>7197946
http://trilema.com/2014/interacting-with-fiat-institutions-a-guide/

[Anonymous No.7199085]

>>7198937
they can ban its use i guess? I'm not horribly worried because tech always advance faster than government regulations. They will never catch up

[Anonymous No.7199117]

>>7198937
also, they are regulating this shit based on "illicit activities", more like "illicit activities they can't control"

[Anonymous No.7199748]

it can not be stopped anymore
blockchain tech is in every way superior to what we have now.

[Anonymous No.7200648]

>>7199085
>they can ban its use i guess?
How? If the transactions happen between two independent parties on the internet, who's going to stop them?
I guess you could argue, that larger companies that want to be normie legit will toe the line, but eventually they'll get overtaken by companies that offer blockchain services that end up being cheaper in the long run.
>>7199117
I think you mean "illicit activities" = "activities they can't control / tax"

>>7199748
That's why this dip means literally nothing to me. I'm convinced that this is only the beginning even if it's been around for a few year, that's nothing in reality.