How are you doing my dear STEEMIANS ?
This is my new post about actual news in Cryptosphere.
In this post, i will wrote some words about one of HOTTEST
topics in cryptoworld; EU crypto regulation.
So, as you may already know, next year the EU plans
to introduce measures to regulate the cryptomarkets.
In short, what they are trying to do is to END the ANONYMITY of
wallet addresses and make exchanges, and their users,
more transparent to the world.
Also, the EU plans to change the way virtual currencies are traded by
adding them to The 4AMLD (4th Anti-Money Laundering Directive).
This will give authorities the jurisdiction they need to investigate
individuals, exchanges and wallets as they see fit.
The exact wording is as follows.
“In respect of designing providers of exchange services between virtual currencies and fiat currencies as obliged entities, the proposed amendments respect the proportionality principle. In order to allow competent authorities to monitor suspicious transactions with virtual currencies, while preserving the innovative advances offered by such currencies, it is appropriate to define as obliged entities under the 4AMLD all gatekeepers that control access to virtual currencies, in particular exchange platforms and wallet providers.”
So what do you think?
Can EU regulation affect the cryptomarkets?
I have some questions to you my dear Steemians;
Can regulations change the way cryptocurrency's we know?
Can this affect the cryptomarkets greatly?
My toughs are, from this regulation, consumer can of course benefit;
there will be increased security, trust and transparency, but, then,
i don't see then purpose of cryptocurrencies anymore, do you?
Also, as there's no fixed date yet for this, it's most likely to happen
later in 2019 or even 2020, once new directives have been
transposed into national law.
Until then, we can only wait and see what will happen.
Let me know what are your toughs.
If you have any crypto related questions, feel free to contact me
on Discord 24/7, user cryptomonitor#0447
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I am so glad that I am not living there :D
Man You may be right. But technically we were expecting week bitcoin since from mid of december. The lower prices of 10000$ were already expected technically. Big whales and market makers are creating sort of Panic in many new investors These are sort of tactics to sell high and buy low from big whales. I and dedicated professional team of cryptos are expecting minimum 25K$ price hit of btc this year. The market cap of cryptos is expected to increase from 0.5 trillion to 1.5-2 trillion. Can you imagine the potential how muhh one can earn in 2018 from cryptos? This is the best time to invest. Incase you have already invested and in loss. Don't worry a time will come when you will not regret. Just give some time minimum a month and green bath is coming.
that is awesome news i how, they create the environment everyone is hoping for , i know in the end the people's will always win so am very hopeful.
it looks like good news. we will see together what will happen
You always give up-to date news and that is quite commendable. Thanks for sharing
I have just posted this: https://steemit.com/news/@diogosantos/ecb-chief-economist-bitcoin-can-help-us-if-it-is-regulated
They want to start discussing about regulation at least in March, so I think we won´t need to wait until 2019/20 to see the effect of regulation on the crypto markets.
Do you think they will get an agreement?
It will have to be regulated someday I just hope that when they do do it they do it right.
Short term regulation can seriously impact the progression and growth of cryptocurrencies and blockchain projects. But long-term most people will come to term with the possibilities of the new technology and how certain parts of the economy can profit from it.
regulate me?! trick please.... lol #humor
They just want to take our profits away !!
They want to take control of us and stick to the old centralized system we are in !
Considering the idea behind this so called regulation.. It seems like a great idea but the point i dont like about it is that it would remove the whole purpose of crypto currency in the firat place.. Secondly i also consider this as a way to create panic in the market so big whales can buy more. Hodl
How they can do it? Cryptocurrency should be regulate from governments all over the world, what EU can do in front of this global system?
A lot of these politicians dont even understand blockchain tech, thats my biggest gripe. "BITCOINNN IS FOR CRIMINALSSSS Arghghghghg"
your thinking is great....you will running create this type posting....i waiting for your next post..
Nice information
You always give up-to date news and that is quite commendable. Thanks for sharing
Mr Obvious here but the driving reason for any regulation is to collect taxes. Anything bought and sold by this many people and some of those people making huge sums of money no government Democratic or otherwise will let it go untaxed for very long.
A benefit of regulation will give more investor confidence (which again Mr. Obvious) brings more money. Also regulation brings potential lawsuits that "may" deter some scams. Some sort of protections are not all bad but there is line to all.
Good post, Follow me @iqbalzarra
This is great information for us. Thanks.
#HODL
Better regulate, than ban.
Sensible regulations are needed and not outright bans. The problem is media doesn't like it, banks don't like it and put politicians don't understand it. Bitcoin has faced all sort of bad publicity over the years. The under lying technology of building a trust less system is amazing and it will bring revolutionary changes. I am happy that I'm watching the crypto currencies so closely over the years. Cheers!
I thought it would come some day, best buy myself some monero ;)
The EU is a slow and rusty administrative machine. It will take a while until all of this is in place. And probably will be done with a Directive - an obligation towards the member states to make into law the rules of the EU directive. So it will take a while guys. Enjoy annonymity while you can!
Very good information @cryptomonitor, this is very useful. But I see, every country has a different regulation with Bitcoin and crypto. As in my country this is very difficult with Bitcoin. I've heard that Bitcoin is no longer allowed in my country. That's what makes me so discouraged to work in steemit. I really hope the government will change that statement. Thanks for sharing.