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Japanese regulators are calling for other countries to regulate cryptocurrency exchanges as thoroughly as they would regulate banks. What's your view on this?

8 Comments

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8 Comments
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They should be closed and then checked that they are kept closed. You have plenty of other places to invest and then lose your money hard worked for.

What about all the people who aren't using crpytocurrencies as an investment?

1 ( +1 / -0 )

Just by the fact that is cryptocurrency is now apparently largely used on the darkweb for pay in participation in atrocities. Who know what other things are being paid by it, I know of scammers and hackers who demand payment in cryptocurrency as well. It's scary and suspicious at the same time how it has been allowed to become so.

The government wouldn't have any more right to oversight to look at where individual transactions are going than they would with a general bank, and this would be made more difficult due to the anonymity of cryptocurrencies.

1 ( +1 / -0 )

They should be closed and then checked that they are kept closed. You have plenty of other places to invest and then lose your money hard worked for. It should be limited to a few official places like exchanges, for the very hardest addicted ones. But there’s surely no need to open it up widely and without limitations as this would only financially ruin the masses and further concentrating wealth into a very few rich or criminal hands.

0 ( +1 / -1 )

The blockchain should be used. As far as all transactions are in open view we can trust it.

Who trusts the BOJ anyway?!

They keep buying Gov. bonds without previous anouncement every Friday night, just before market closes.

And they won't tell how much foreign currecy they sold last month.

-2 ( +0 / -2 )

Maybe the regulators need to be regulated first. FTX was in bed with the regulators as they perpetrated the biggest fraud in US history. Exchanges should be regulated, but not by regulators who use a revolving door to regulate and then get cushy jobs from the companies they "regulated."

Ideally, exchanges would be eliminated, as they go against the whole concept of decentralized money.

-2 ( +1 / -3 )

But of course it should, and they should and ought to.

Just by the fact that is cryptocurrency is now apparently largely used on the darkweb for pay in participation in atrocities. Who know what other things are being paid by it, I know of scammers and hackers who demand payment in cryptocurrency as well. It's scary and suspicious at the same time how it has been allowed to become so.

0 ( +2 / -2 )

Exchanges should definitely be regulated as banks. They are holding people's money. Oversight should be required.

7 ( +8 / -1 )

I think what they really want to do is regulate them out of existence so they can't compete with a central bank digital currency. The same will go for other countries.

-1 ( +6 / -7 )

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