Most Helpful Opinions
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.0
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Most likely regulation is regulation that crushes crypto. Not a single country that wants to have sound monetary policy would accept cryptocurrencies as legal tender20
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.0
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.10
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.0
Crypto IS legalized. You can buy it on Paypal.112
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.0
Did you mean if it becomes legal tender? I don't think that will happen anytime soon.0
It can't be regulated0
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