This is the thing what they have been trying to do since popularity of crypto has emerged and reached users all around the world. Amount of the users in USA cannot be ignored, and this law-making undermines one of the remarkable feature of crypto currencies which promises economical freedom for people. Overall, if this law gets approved it will not only have impact on US citizens but other users from the world.
Lawmakers are obligated to do what is best for the individuals and moreover society. Is this law-making beneficial for the people and whatsoever institutions which are operating in crypto space? They are making those in the purpose of whatever is promotional for their fiat oriented intentions.
I agree with you. Blockchain is a great technology, especially in places where records are stored. There's a lot of good about it. Everything is being recorded. No fear of losing. But people still don't get used to it. Because of this, we have a long way to go.
You're so right. People should be educated. But now they can find out by investigating. There are a ton of resources. They should at least look at something so popular. The more knowledgeable people, the stronger we become.
Very good review of a very bad law. Section 80603, in it's current form, only muddies the waters for crypto development and will slow growth in the field until we have a more consistent definition. As written, the law could mean that a "broker" is anyone the IRS decides is a broker on that day by that agent. Hopefully this will get fixed in reconciliation before the bill goes to the House for debate.
Yeah. Even more than 'broker' alone, the new definition of broker seems to pave the way to apply cryptocurrency law equatable to NFTs and anything else on blockchain.
There are many people in the world who know what crypto is, bitcoin, but still do not understand its purpose.
People should be told that this is not just a money making tactic, but also that the future is technology. Blockchain should be explained to people so that we can use it more in daily life. I think that there is not enough advertising about crypto, there are only a few stock market ads.
There are no rules in the crypto world right now, everyone does what they want. If one day the end of crypto comes to an end, it will not be Elon Musk or China. We will be solely responsible for this. Rules and regulations should always be in place.
Laws are indispensable for societies. But they must be used correctly in the right places. Crypto and blockchain technology is one of the most valuable things that have entered our lives lately. The power it has is undeniable. We all know they fear such a power. That's why such regulations and bills are coming. I absolutely don't support them. Thanks for this nice review.
The SEC is an interesting institution. I don't understand what it does. He makes decisions on some issues. But every time a president changes, policies change. I don't know if the truth changes from person to person.
Its a learning curve for everyone involved, and most governments will feel the need to regulate crypto to some extent. Its going to be a minefield for them, but probably more so for those having to implement or follow any regulations.
If we don't raise our voices now they will start destroying us by this laws and bills
The government intention was never to give the freedom to the citizens
Democracy is all about freedom but i never feel that freedom in my country or any other countries
When i got introduced to Blockchain it changed meaning of Democracy and i strongly deny the support for any bills like this and will never support them in my life.
Freedom is almost nonexistent, especially in some countries. This is very sad. Man is as human as he is free. Because of this, I held on to the blockchain firmly.
As I said before, we have a very wonderful blessing, Blockchain Technology, Bitcoin, and their usage areas are so many that they can benefit people, But some governments are too blind to see this, or they're trying to finish this amazing thing, So unreasonable .
Efforts to destroy cryptocurrencies are meaningless and funny, they don't realize that if they stopped this ridiculous nonsense and approached and supported Cryptos in a friendly way, they do not realize that they would be in a higher position than other countries in many issues in the future, they are trying to destroy a way that will bring a lifetime income for the sake of instant gain.
I think cryptocurrencies and this ecosystem definitely need some regulation.
I can see some passionate and promising politicians working for this.
but I guess they are not enough yet.
Look, we all have to accept this now.
The blockchain cannot be stopped and will continue on its way.
Many traditional methods of economics are rotten and cumbersome.
In order to keep up with the times, the transition to the blockchain needs to be accelerated and carried out in a more reliable and transparent manner.
Blockchain should be indispensable for these air transportation, transportation, accounting, production and distribution channels and many similar phenomena that can come to mind.
If this can be achieved, efficiency and benefit will increase.
This is the thing what they have been trying to do since popularity of crypto has emerged and reached users all around the world. Amount of the users in USA cannot be ignored, and this law-making undermines one of the remarkable feature of crypto currencies which promises economical freedom for people. Overall, if this law gets approved it will not only have impact on US citizens but other users from the world.
Lawmakers are obligated to do what is best for the individuals and moreover society. Is this law-making beneficial for the people and whatsoever institutions which are operating in crypto space? They are making those in the purpose of whatever is promotional for their fiat oriented intentions.
I agree with you. Blockchain is a great technology, especially in places where records are stored. There's a lot of good about it. Everything is being recorded. No fear of losing. But people still don't get used to it. Because of this, we have a long way to go.
Thank you for the article.
Have a nice day.
The rest of the society should be informed, perhaps training should be given across the country. We are far from this situation.
After everyone has the knowledge, they will do what makes sense and benefit from the advantages of this technology.
With knowledgeable investors, this market becomes even stronger.
Thanks for the article.
You're so right. People should be educated. But now they can find out by investigating. There are a ton of resources. They should at least look at something so popular. The more knowledgeable people, the stronger we become.
Very good review of a very bad law. Section 80603, in it's current form, only muddies the waters for crypto development and will slow growth in the field until we have a more consistent definition. As written, the law could mean that a "broker" is anyone the IRS decides is a broker on that day by that agent. Hopefully this will get fixed in reconciliation before the bill goes to the House for debate.
Yeah. Even more than 'broker' alone, the new definition of broker seems to pave the way to apply cryptocurrency law equatable to NFTs and anything else on blockchain.
There are many people in the world who know what crypto is, bitcoin, but still do not understand its purpose.
People should be told that this is not just a money making tactic, but also that the future is technology. Blockchain should be explained to people so that we can use it more in daily life. I think that there is not enough advertising about crypto, there are only a few stock market ads.
There are no rules in the crypto world right now, everyone does what they want. If one day the end of crypto comes to an end, it will not be Elon Musk or China. We will be solely responsible for this. Rules and regulations should always be in place.
It won't be very helpful to say that. Easily learned information is easily forgotten. It will be much more useful for people to research and learn.
Laws are indispensable for societies. But they must be used correctly in the right places. Crypto and blockchain technology is one of the most valuable things that have entered our lives lately. The power it has is undeniable. We all know they fear such a power. That's why such regulations and bills are coming. I absolutely don't support them. Thanks for this nice review.
This is gonna be a nightmare for declaring and paying taxes
They want to hold the power, so they constantly try to bring regulation. This is one of those lousy regulation attempts.
There has to be an arrangement, but the real question is who will make this arrangement?
Venezuela, El Salvador, Wyoming,
Malta I respect these countries and what they do.
I find the approach of some countries to crypto very absurd.
Experts should solve this issue, I seem to see that people who have no knowledge in any way want to impose sanctions.
I totally agree that if a regulation comes, it should be done by crypto experts, not American senators.
The SEC is an interesting institution. I don't understand what it does. He makes decisions on some issues. But every time a president changes, policies change. I don't know if the truth changes from person to person.
Thanks for the nice post.
Its a learning curve for everyone involved, and most governments will feel the need to regulate crypto to some extent. Its going to be a minefield for them, but probably more so for those having to implement or follow any regulations.
If we don't raise our voices now they will start destroying us by this laws and bills
The government intention was never to give the freedom to the citizens
Democracy is all about freedom but i never feel that freedom in my country or any other countries
When i got introduced to Blockchain it changed meaning of Democracy and i strongly deny the support for any bills like this and will never support them in my life.
Thanks for a nice review
Freedom is almost nonexistent, especially in some countries. This is very sad. Man is as human as he is free. Because of this, I held on to the blockchain firmly.
As I said before, we have a very wonderful blessing, Blockchain Technology, Bitcoin, and their usage areas are so many that they can benefit people, But some governments are too blind to see this, or they're trying to finish this amazing thing, So unreasonable .
Thanks for your article.
I think the states know better than we do. That's why they're trying to stop it. But I certainly don't think he meant well.
Efforts to destroy cryptocurrencies are meaningless and funny, they don't realize that if they stopped this ridiculous nonsense and approached and supported Cryptos in a friendly way, they do not realize that they would be in a higher position than other countries in many issues in the future, they are trying to destroy a way that will bring a lifetime income for the sake of instant gain.
Nice one Marco!
I think cryptocurrencies and this ecosystem definitely need some regulation.
I can see some passionate and promising politicians working for this.
but I guess they are not enough yet.
Look, we all have to accept this now.
The blockchain cannot be stopped and will continue on its way.
Many traditional methods of economics are rotten and cumbersome.
In order to keep up with the times, the transition to the blockchain needs to be accelerated and carried out in a more reliable and transparent manner.
Blockchain should be indispensable for these air transportation, transportation, accounting, production and distribution channels and many similar phenomena that can come to mind.
If this can be achieved, efficiency and benefit will increase.