If crypto gets legalized, will each crypto jump like hell?

[Anonymous]

Crypto like eth, btc , Ada , etc ( will it double ot triple?)

Yea, it will double

Yea, it will tripple

No, it will fall

Updates

1 y

As in if regulations come out, will it rise?

[Diodoro]

Crypto is currently legal and currently subject to capital gains tax today.

Now it's decentralized and largely anonymous but you are supposed to state your profit/loss when filing your taxes. Only some exchanges like Coinbase have identity verification right now as a means to centralize a service that was previously decentralized.

That's why certain exchanges aren't technically allowed for US users like Binance. US users face certain regulations that Binance doesn't want to deal with so they cut all US users. Then had KYC added so US users couldn't just use a VPN to use it fraudulently

I think what you mean to say Will crypto be adopted by the masses after regulation has passed that is friendly towards crypto? And the answer is probably yes.

Crypto is the future and it will be used whether the US wants it to happen or not. We know this is true because the US government has already decided to come out with their own cryptocurrency to compete with others out there.

Aka they've conceded. Crypto is here and they can't stop it without being removed from power because the people want it

[MuddyMole]

It has never been illegal, but the conventional wisdom is that more regulations would make it less valuable, as it would no longer provide a way to circumvent tax laws and other restrictions.
I suppose hypothetically, there could be a rush to buy crypto just before the regulations came into effect, since once you have bought it, it is basically untraceable (whereas transactions between your bank and a crypto exchange would be very obvious) - but I wouldn't bet on it.

[tartaarsaus]

Most likely regulation is regulation that crushes crypto. Not a single country that wants to have sound monetary policy would accept cryptocurrencies as legal tender

[Anonymous]

The whole point is that you can't regulate it. If you can regulate it, then it's not a good crypto. In the short term, people who don't really believe in it and just want to make a quick buck will be spooked, wealthy people and those who actually value it over fiat will buy it up at the lows and in the long term nothing it will proceed normally.

[Kiran_Yagami]

Crypto is not illegal. It's just not widely adopted. Other than trading crypto to other crypto traders, there isn't much to do with it. But if it was more widely accepted, it would likely rise in price.

[Quidthonian]

In Poland, I have seen a Bitcoin ATM in a mall. The ATM was in a prominent location. It is not legal. In South Africa, any gains and losses on Bitcoin transactions are taxed as Capital Gains Tax.

[Leonharted]

Crypto IS legalized. You can buy it on Paypal.

[Asker]

IMF legalized it?

[Leonharted]

I have no idea. But there's no law keeping you from purchasing crypto currency.

[Asker]

Yeah. So my point is to ask if crypto will rise if it gets legalized or not

[Leonharted]

Ok. Well it's not illegal right now, so it meets the definition of "legalized."

[Asker]

So will the price rise after government says a yes to crypto?

[Leonharted]

Says yes to what? Again, you can go and buy it right now. There's no law saying buying crypto is illegal.

[Asker]

I mean if they come up with regulations, will the price rise?

[Leonharted]

Regulations typically means fees. That means that either the seller will eat the fees (he loses money) or the buyer will need to pay more. Nobody but the government will "win" from regulations on electronic regulations.

[Asker]

Yea but despite this, I mean will they pump up prices, and will price rise? Will buyers increase?

[Leonharted]

They regulate cars very heavily. This is why new cars are so expensive. Do you think most people buy new cars or used cars?

Regulations will make crypto more difficult/expensive to buy AND sell. It will lower demand.

[zeitgeist057]

The point of crypto is it is going up whether governments legitimize, approve, legalize, or ban it.

Government: We accept crypto, crypto is good, we approve.
Crypto: Going up. Didn't really care if you approve or not.

Government: We fight crypto, we hate it, crypto is bad, we disapprove.
Crypto: Going up. Don't really care if you approve. Crypto was designed intentionally to be outside the reach of government intervention. What are you going to do, shut down the internet and all electronic communication between people? yeah right.

[zeitgeist057]

@leonharted you're exactly right about the cars analogy. This is why I use certain ways to buy and sell crypto and avoid the regulated public ones for the most part.

[Anonymous]

If it is regulated than that means it is subjected to taxes on gains as well as other things that disincentivize people from wanting to buy it.

[EnglishEuropean]

Did you mean if it becomes legal tender? I don't think that will happen anytime soon.

[jahaims]

It can't be regulated