crypto exchange owned by government possible?

[target]

Do you think each country in the future will have its exchange they own?

The government regulatory bodies are already looking into crypto and giving a green light to the ETF. In order for them to regulate thoroughly an exchanged owned by the government will make their job easier. is it possible?

[hugeblack]

I do not think. Even the countries that have adopted Bitcoin as a legal tender have not done so. The best you will get is for the central bank to agree to place a reserve of Bitcoin alongside the dollar and gold, and for you to be able to create a bank account with Bitcoin, deposit and withdraw from banks, as banks are the lifeblood of modern economies.

[jeraldskie11]

Do you think each country in the future will have its exchange they own?

The government regulatory bodies are already looking into crypto and giving a green light to the ETF. In order for them to regulate thoroughly an exchanged owned by the government will make their job easier. is it possible?

Some government see crypto as a ponzi scheme and mostly used by criminals. So if they look crypto that way, there's no reason for them to make crypto exchanges. However, there are Countries who see crypto that can give impact to their economy that's why I'm looking forward to see this. Yes, government today are approving ETF but it's not new to us because it already happened before, it can also be used to manipulate the market. So I don't think ETF approval can be the caused.

[Crwth]

There would be a lot of private companies that are aiming at their specific residence country to build something like an exchange. It is highly plausible that there are to be setup inn someway. On the government side, I don't know if it would be advisable. Wouldn't that mean that all of the residents of that country have a special role or some benefit to having that? Because in order to setup that, it would be using the peoples money.

[SamReomo]

I think the governments will never think about having their own official crypto exchanges even in future. The reason for that is the uncontrolled volatility of the crypto-currencies and the presence of rug-pulls of the market.

If you remember the Terra Luna coin then you can get an idea that how hard it would be for a government to convince the users if they were affected by Terra Luna on a government owned exchange.

It would be hard for the government to subsidize the victims because that's not a small amount and that's one of the reasons why governments may never think about having their own exchanges.

[taufik123]

Surely every country that legalizes Crypto or Bitcoin will have its own exchange to control Bitcoin users and that will be a big advantage for the government.

Tax payments for each local Exchange will be a significant new source of revenue.
But for a country that bans crypto completely there will be no local exchanges or regulations governing crypto, it will be banned anywhere.

But I am lucky to still be in a country that regulates the use of crypto as a commodity asset,
although it is not allowed to be used as legal tender, but the regulation is enough.

[UNIVERSE]

Currently, I have not found any crypto exchanges owned by the government of any country yet. Or maybe if there is, we can share information here. However, it does not rule out the possibility that one day, brands will create their own crypto exchange (CEX) with their own regulations.

For now, we may meet only many licensed crypto exchanges by the government, as in my country. The exchanges that will be operated, must be regulated and have license from the government.

[PX-Z]

Do you think each country in the future will have its exchange they own?

Possible, but i don't think they can manage of having it. I mean it's better to handle it with those private sectors/company than them, well, at least in my area knowing how irresponsible authorities on jobs and more like on corruption.

Plus, even though can manage it fully, why they should do that. When they can just charge the exchanges on the tax percentage they need by passing s law, or ask the exchanges of the users who registered there for some reasons, and etc.

[bayu7adi]

It is very possible, because we all know that government decisions always have more special sovereignty and can beat the business of private companies. In my country the exchange market is still controlled by private companies who compete fairly, but all exchanges are directly supervised by the government. So the identity data of all citizens related to cryptocurrencies is always monitored by the government.

In the future, it is very possible that the government will intervene more deeply in the buying and selling of cryptocurrency by its citizens.

[bitterguy28]

Do you think each country in the future will have its exchange they own?

The government regulatory bodies are already looking into crypto and giving a green light to the ETF. In order for them to regulate thoroughly an exchanged owned by the government will make their job easier. is it possible?

Government can do anything of course because it is their rule and its country but the problem here is that will their people trust them enough to use exchanging their crypto?
and the reason why many of us are denying the use of banks because of government interruption so if those exchange will be manage by government so what is the difference between bank and exchange?

[TomPluz]

Do you think each country in the future will have its exchange they own?

I don't think this can be happening anytime and it is because the government is the referee or arbiter in the industry so it would not be good if it would be one of the players that it is regulating. This is the reason why this is not happening right now and I think that even if there is one people would be hesitant to use a government-sponsored crypto exchange all because the data can easily be acquired by the government and you are just exposing to greater risks. And we know that governments are not good in business so if there is one it would just collapse and die in no time at all. I would even say that this idea can be preposterous (sorry for the word) and will never be adopted even by North Korea.

[Crypto Library]

Do you think each country in the future will have its exchange they own?
The government regulatory bodies are already looking into crypto and giving a green light to the ETF. In order for them to regulate thoroughly an exchanged owned by the government will make their job easier. is it possible?

To my knowledge there is currently no such exchange that is run by any country's government.  But I think in the future countries that have accepted cryptocurrency as legal and legal tender may open their own cryptocurrency if their government wants to. By doing this, people will trust the government more and also the government will find an easy way to monitor tax collection. However, they have to have a good competitive fight with the big exchangers in terms of providing services. Currently in my country cryptocurrency is illegal I wish our government one day own the crypto exchange.

[bitmover]

Do you think each country in the future will have its exchange they own?

The government regulatory bodies are already looking into crypto and giving a green light to the ETF. In order for them to regulate thoroughly an exchanged owned by the government will make their job easier. is it possible?

Maybe we will see something like that when governments implement CBDC with smartcontracts.

Cbdc will open some possibilities for governments , and citizens will have even less privacy rights.

[Gladitorcomeback]

Do you think each country in the future will have its exchange they own?

The government regulatory bodies are already looking into crypto and giving a green light to the ETF. In order for them to regulate thoroughly an exchanged owned by the government will make their job easier. is it possible?

Indonesia did something similar in 2023 when they launched a state-backed cryptocurrency exchange. You can read full details about the story here: https://www.thebanker.com/State-backed-cryptocurrency-exchange-launched-in-Indonesia-1692088277

I don't know if people, at least most of them, would use state-backed cryptocurrency exchanges for their cryptocurrency trading activities because of the regulations and everything they will impose on users, and their motive behind something like this would barely be to protest investors from frauds and scams but they would want to monitor and control their activities.

[MrSpasybo]

Indonesia did something similar in 2023 when they launched a state-backed cryptocurrency exchange. You can read full details about the story here: https://www.thebanker.com/State-backed-cryptocurrency-exchange-launched-in-Indonesia-1692088277

I don't know if people, at least most of them, would use state-backed cryptocurrency exchanges for their cryptocurrency trading activities because of the regulations and everything they will impose on users, and their motive behind something like this would barely be to protest investors from frauds and scams but they would want to monitor and control their activities.

Yes, the Indonesian government has implemented such a crypto exchange since 2023. I do not live in Indonesia, I do not understand exactly how the State-backed cryptocurrency exchange is operating and serving crypto users. I hope the transaction costs and taxes will not be too high.

I think this will be one of many trends in the future, when governments want to manage crypto, collect taxes from crypto, and charge transaction fees from crypto. The government has power, they also want to have more revenue for the budget, operating an exchange like a state-owned enterprise is completely feasible and worth experimenting.