Crypto markets can exist without government permission

[MrSpasybo]

I don't think Nigerians currently have too much business with Binance since the peer-to-peer medium isn't available to them. Although there are a few services they can utilize, I came across news that doesn't make sense from any angle. Are all Nigerian Binance users under investigation or what? Like I said before, Binance would really love to see more involvement from Nigerian traders, which might possibly result in them releasing such sensitive data. Just saying...

I don't know specifically what Binance has done in Nigeria, I just believe that Binance is not causing the devaluation of the local currency. Binance also always tries to comply with the regulations of countries, there is no reason for them to do anything too dangerous in Negeria - a country with constantly changing views on crypto. We don't know yet whether Binance has handed over Nigerian user data, I just hope that Binance can find the best way to overcome the accusations and demands from the Nigerian government and will never return to that dangerous market again.

[Aanuoluwatofunmi]

If we are to go by the virtue of things we want to see with cryptocurrency, i don't think we need the government intervention in making any of these decision for us on how to engage on the use of cryptocurrency because it will make no difference to where we were coming from with the use of the commercial banks and the fiat currency, it is more better that they leave it as it has always been, moreover there's nothing they can achieve in taking over a decentralized blockchain network.

[LUCKMCFLY]

Before governments, crypto can Exist , in fact yes, my answer is yes, where governments want to regulate this crypto, how can they do it?  If we have good support with a protection system with the Tor network, a good VPN we can have access to crypto, this cannot be traced by the government, in fact not even the FBI can do something like that,  so I don't think a government would to record every traffic that is suspicious because they will not find anything, they will get lost in their attempts, and that can cause the deaths to be different for the people who want this, like they do in China ? They use these protocols to make their transactions, for Everything there is always a trick, the giboern? Ha, what does a Government do apart from getting rich? for his people? eventually nothing.

[doc]

Before governments, crypto can Exist , in fact yes, my answer is yes, where governments want to regulate this crypto, how can they do it?  If we have good support with a protection system with the Tor network, a good VPN we can have access to crypto, this cannot be traced by the government, in fact not even the FBI can do something like that,  so I don't think a government would to record every traffic that is suspicious because they will not find anything, they will get lost in their attempts, and that can cause the deaths to be different for the people who want this, like they do in China ? They use these protocols to make their transactions, for Everything there is always a trick, the giboern? Ha, what does a Government do apart from getting rich? for his people? eventually nothing.

In fact, what the government is doing by making laws regarding the use of crypto is only to protect its citizens, so that crypto users will feel safe and comfortable. Even though the government cannot track what its citizens can do, because crypto technology is anonymous, the government cannot do anything and it is only a guess when there is misuse of crypto.

[Google+]

In fact, what the government is doing by making laws regarding the use of crypto is only to protect its citizens, so that crypto users will feel safe and comfortable. Even though the government cannot track what its citizens can do, because crypto technology is anonymous, the government cannot do anything and it is only a guess when there is misuse of crypto.

When the government tries to pass laws regarding the use of crypto in their country, they try to control the circulation of crypto in their country. In fact, as far as I know, cryptocurrency cannot be controlled by anyone because its price movements are very volatile and unstable.

[Tribalchief]

I don't know specifically what Binance has done in Nigeria, I just believe that Binance is not causing the devaluation of the local currency. Binance also always tries to comply with the regulations of countries, there is no reason for them to do anything too dangerous in Negeria - a country with constantly changing views on crypto. We don't know yet whether Binance has handed over Nigerian user data, I just hope that Binance can find the best way to overcome the accusations and demands from the Nigerian government and will never return to that dangerous market again.

Currently, the new administration has been eager to generate supposed tasks from every possible angle. Not just Binance, but some notable people in Nigerian society are under investigation. What I clearly understand here is that the Nigerian government wants only money from Binance and nothing else. I saw the recent lawsuit where the government fined Binance $10 billion. All this excessive force on Binance proves that they want to extract money from them.

https://www.premiumtimesng.com/business/business-news/673361-nigeria-govt-slams-10-billion-fine-on-binance.html

In fact, what the government is doing by making laws regarding the use of crypto is only to protect its citizens, so that crypto users will feel safe and comfortable. Even though the government cannot track what its citizens can do, because crypto technology is anonymous, the government cannot do anything and it is only a guess when there is misuse of crypto.

Well, this might be applicable to some countries, but it ain't really what the government of other countries truly fights for. I don't want to speak from a political view, but I think most governments just don't want their citizens to get involved in things that are outside their influence or control. Just imagine my country, for example, where most of the gas stations, banks, shopping malls, real estate, universities, etc., are owned by those in government or those related to the government. Cryptocurrency certainly offers something that differs, and it's not under their control. How will people keep leaving their money in the bank when crypto offers something else? How will people invest in real estate when crypto investment appreciates faster?(though not all project). This is indeed a big threat to those who feel threatened. Crypto is freedom, and not every government would want to give that freedom.

[rizqillah]

In fact, what the government is doing by making laws regarding the use of crypto is only to protect its citizens, so that crypto users will feel safe and comfortable. Even though the government cannot track what its citizens can do, because crypto technology is anonymous, the government cannot do anything and it is only a guess when there is misuse of crypto.

When the government tries to pass laws regarding the use of crypto in their country, they try to control the circulation of crypto in their country. In fact, as far as I know, cryptocurrency cannot be controlled by anyone because its price movements are very volatile and unstable.

The government will not be able to control crypto, they will only take taxes from transactions.  We all know crypro is semi anonymous... How can the government control it.  They only know about the transaction when they do it on the local exchange.  So permission from the government is actually not really necessary

[MrSpasybo]

Currently, the new administration has been eager to generate supposed tasks from every possible angle. Not just Binance, but some notable people in Nigerian society are under investigation. What I clearly understand here is that the Nigerian government wants only money from Binance and nothing else. I saw the recent lawsuit where the government fined Binance $10 billion. All this excessive force on Binance proves that they want to extract money from them.

https://www.premiumtimesng.com/business/business-news/673361-nigeria-govt-slams-10-billion-fine-on-binance.html

I've also heard about the $10B fine, but that's just third-party news, and the Nigerian government hasn't made any announcements about it. I also think they want money from Binance after seeing how easily the US DOJ was able to get $4B from Binance, and the government could also blame crypto when they can't solve domestic economic problems. We'll wait for the outcome of this drama, I really hope Binance will find a way to work things out to safely withdraw from Nigeria. With the current government, Nigeria is not a country suitable to embrace the benefits of crypto.

[Gyrgen]

Currently, the new administration has been eager to generate supposed tasks from every possible angle. Not just Binance, but some notable people in Nigerian society are under investigation. What I clearly understand here is that the Nigerian government wants only money from Binance and nothing else. I saw the recent lawsuit where the government fined Binance $10 billion. All this excessive force on Binance proves that they want to extract money from them.

https://www.premiumtimesng.com/business/business-news/673361-nigeria-govt-slams-10-billion-fine-on-binance.html

I've also heard about the $10B fine, but that's just third-party news, and the Nigerian government hasn't made any announcements about it. I also think they want money from Binance after seeing how easily the US DOJ was able to get $4B from Binance, and the government could also blame crypto when they can't solve domestic economic problems. We'll wait for the outcome of this drama, I really hope Binance will find a way to work things out to safely withdraw from Nigeria. With the current government, Nigeria is not a country suitable to embrace the benefits of crypto.

Or maybe it’s not the government of Nigeria, but the stock exchange? There is a saying “take the burden with you so as not to bend when walking.” Well, and besides, from a global perspective, this shows how cryptocurrency does not depend on government permissions, if suddenly all governments decide take on this issue, then everything will end very quickly and with a big badabum.

[doc]

In fact, what the government is doing by making laws regarding the use of crypto is only to protect its citizens, so that crypto users will feel safe and comfortable. Even though the government cannot track what its citizens can do, because crypto technology is anonymous, the government cannot do anything and it is only a guess when there is misuse of crypto.

When the government tries to pass laws regarding the use of crypto in their country, they try to control the circulation of crypto in their country. In fact, as far as I know, cryptocurrency cannot be controlled by anyone because its price movements are very volatile and unstable.

The government will not be able to control crypto, they will only take taxes from transactions.  We all know crypro is semi anonymous... How can the government control it.  They only know about the transaction when they do it on the local exchange.  So permission from the government is actually not really necessary

Permission from the government to protect its citizens and some to prevent money laundering. As far as I know, in my country we are only allowed to invest in crypto, not to use crypto as a payment method. In my opinion, permission is required, because after all, every country has its rules

[pacar_tiri]

Permission from the government to protect its citizens and some to prevent money laundering. As far as I know, in my country we are only allowed to invest in crypto, not to use crypto as a payment method. In my opinion, permission is required, because after all, every country has its rules

Exactly, each country has its own policy. If your country has a policy that cryptocurrency is only used for investment then that's good enough. Because countries like China and several other large countries have policies strictly prohibiting the use of cryptocurrency for investment and payment methods.

[yohananaomi]

Permission from the government to protect its citizens and some to prevent money laundering. As far as I know, in my country we are only allowed to invest in crypto, not to use crypto as a payment method. In my opinion, permission is required, because after all, every country has its rules

Exactly, each country has its own policy. If your country has a policy that cryptocurrency is only used for investment then that's good enough. Because countries like China and several other large countries have policies strictly prohibiting the use of cryptocurrency for investment and payment methods.

The principle is that the state can protect its citizens as much as possible, so it is not surprising that the policies made will be adjusted to the country's situation. So it seems like there are those who prohibit it from being used as a legal means of payment, but it is still allowed to be traded or invested.
Big countries like China, because the mining carried out by that country is very detrimental to the environment, so there is a ban, as well as perhaps other countries, because there are other problems. It could be to avoid money laundering from cartels and many other things for every country that refuses.
But with advances in technology, it is possible that every citizen whose country prohibits it can still carry out transactions, but this clearly violates the rules.

[rizqillah]

Permission from the government to protect its citizens and some to prevent money laundering. As far as I know, in my country we are only allowed to invest in crypto, not to use crypto as a payment method. In my opinion, permission is required, because after all, every country has its rules

Exactly, each country has its own policy. If your country has a policy that cryptocurrency is only used for investment then that's good enough. Because countries like China and several other large countries have policies strictly prohibiting the use of cryptocurrency for investment and payment methods.

If it is prohibited in other countries, such as what you call China, many of its citizens invest there. The Chinese government should have a policy that protects its citizens from investing in crypto by providing investment permits.

[EthereumDev_]

If it is prohibited in other countries, such as what you call China, many of its citizens invest there. The Chinese government should have a policy that protects its citizens from investing in crypto by providing investment permits.

Even though they have more citizens than other countries, they know the level of risk that can occur when trading and there also implement very strict regulations regarding the use of cryptocurrency so that the residents there are very compliant with these rules.

[dekafee79]

If it is prohibited in other countries, such as what you call China, many of its citizens invest there. The Chinese government should have a policy that protects its citizens from investing in crypto by providing investment permits.

Even though they have more citizens than other countries, they know the level of risk that can occur when trading and there also implement very strict regulations regarding the use of cryptocurrency so that the residents there are very compliant with these rules.

I agree with your suggestion, the Chinese government should give permission for its citizens to invest in crypto by making regulations so that its citizens feel safe and protected. Because previously it was heard that the Chinese government was banning mining, for several reasons.