Interesting that governments are out to control something they didn't create. I get wanting to protect consumers. Scammers are everywhere.
I Also get the up side of everything regarding regulation etc. However I also see the upside of privacy in all papers and effects.
Love the ability to use Crypto in the Philippines. Mostly seamless. Very easy. Being a tourist in the Philippines, they really don't have a say in where my crypto comes from, however they ask me for details every time I bring some into the country.
As all my crypto dealings are lawful, I don't have any real issues other than giving privileged information to government entities who's only concern is me spending my money there.
Same goes for the US. Nope. Not a US Citizen either. Nor would I ever want to be. Again with their deciding to control something they didn't create. Also wanting to keep track of every crypto spent and earned all over the planet. Ultra Juris in a common law realm. i.e. none of their business.
Keep DeFi DeFi. Let individuals be free with the wealth they created. All they really want is their 30 to 35% cut (taxes) anyway... Which in any Centralized Banking Country - The taxable event happens when something OTHER than the central currency is converted TO the centralized currency. i.e. BTC exchange to Federal Reserve Notes. Or Philippine Central Banking Notes. in the cases above.
When exchanged to banking notes, ONLY then does any taxing authority have any jurisdiction. And jurisdiction ONLY exists over those individual that volunteered and signed a contract to BE taxpayers in the country(s) they are in.
The real path to mainstream adoption is to have raw material suppliers accept crypto. Not regulators approving it. When a business sells their widget for crypto, is able to replace it from the wholesaler with crypto, who is able to buy from the manufacturer with crypto, that is able to purchase the raw materials with crypto to make the product - is when true mass adoption will take place. Actually far sooner than that.
Activity over regulations are the key driver. Although they have trained us well to think that we have to ask permission to buy something. Or to sell something, for that matter.
Interesting that governments are out to control something they didn't create. I get wanting to protect consumers. Scammers are everywhere.
I Also get the up side of everything regarding regulation etc. However I also see the upside of privacy in all papers and effects.
Love the ability to use Crypto in the Philippines. Mostly seamless. Very easy. Being a tourist in the Philippines, they really don't have a say in where my crypto comes from, however they ask me for details every time I bring some into the country.
As all my crypto dealings are lawful, I don't have any real issues other than giving privileged information to government entities who's only concern is me spending my money there.
Same goes for the US. Nope. Not a US Citizen either. Nor would I ever want to be. Again with their deciding to control something they didn't create. Also wanting to keep track of every crypto spent and earned all over the planet. Ultra Juris in a common law realm. i.e. none of their business.
Keep DeFi DeFi. Let individuals be free with the wealth they created. All they really want is their 30 to 35% cut (taxes) anyway... Which in any Centralized Banking Country - The taxable event happens when something OTHER than the central currency is converted TO the centralized currency. i.e. BTC exchange to Federal Reserve Notes. Or Philippine Central Banking Notes. in the cases above.
When exchanged to banking notes, ONLY then does any taxing authority have any jurisdiction. And jurisdiction ONLY exists over those individual that volunteered and signed a contract to BE taxpayers in the country(s) they are in.
The real path to mainstream adoption is to have raw material suppliers accept crypto. Not regulators approving it. When a business sells their widget for crypto, is able to replace it from the wholesaler with crypto, who is able to buy from the manufacturer with crypto, that is able to purchase the raw materials with crypto to make the product - is when true mass adoption will take place. Actually far sooner than that.
Activity over regulations are the key driver. Although they have trained us well to think that we have to ask permission to buy something. Or to sell something, for that matter.