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Do you think Crypto should have more rules and regulations?


Rachel
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With cryptocurrency if feels like the wild west sometimes. New cryptos popping up, people making fake ones to steal millions and many failing to do anything with their own. I think with all the new ones coming out and with the scams popping up, maybe we need rules and regulations on top of these services. Do you think the US government will force that on them to do? 

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The best part of crypto is the lack of regulations. Once it starts being regulated, it just end up becoming compressed down to a secondary controlled currency. I think if anything, it should be more transparent than it is. 

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I am not a huge fan of regulations. I prefer if people vote with their wallets. 

It is hard playing in the wild west but with huge risk sometimes huge reward can follow. 

There have been scams in the crypto space since the very start. They are starting to get way more media coverage now but this is nothing new. There are scams with normal fiat currency all the time. Not much the regulators can do to stop it. 

People just need to make sure others are not trying to appeal to their greed. If it sounds to good to be true it typically is. Never invest more than you can afford to lose. Stay safe out there :).

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I'm a bit 50/50 on this. I think there should be some rules and regulations that are there to protect us, of course, but nothing else that will limit us or cause us issues. I'm all for there being safety nets around it, but having tons of rules and regulations is something I'm not into. 

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On 11/7/2021 at 6:19 PM, Quinten said:

I'm a bit 50/50 on this. I think there should be some rules and regulations that are there to protect us, of course, but nothing else that will limit us or cause us issues. I'm all for there being safety nets around it, but having tons of rules and regulations is something I'm not into. 

I second this. I'm not about rules being added to make things harder for us, but I do want more security options and protections in place so that what I do make is protected and safe. And if I am to lose my money somehow, there should be options from that service to help me recover it somehow. Much like with debit card services, credit cards, etc. 

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