crypto exchange owned by government possible?

[electronicash]

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.

sure its worth experimenting. this is the way to see thru all the people who are trying to bypass the government by not using the fiat money but use coins. the government will finally have their naughty list thru their state backed exchange.  these crypto holders are probably also the ones going to revolt when the government ask for more tax lol.

El Salvador indeed had not tried to have their own exchange. this is the country that is to be expected to have but not. their volcano bonds i think will be the one that will be turned into an exchange.

[yhiaali3]

I expect that this is very possible in the future. Yes, since the government views Bitcoin and its decentralization with suspicion, it will be very happy if it is able to legalize it through central exchanges.

In addition, of course, to the resources that the state will obtain from establishing such national central exchanges, where cryptocurrencies are monitored and taxes are collected from investors and exchanges, in addition to other activities that drive the local economy.

[bettercrypto]

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?

Well, we don't know what can happen in the future. Although I cannot deny that, there are still countries that believe that Bitcoin is a Ponzi scheme, even though it is actually only used in Ponzi schemes. The ponzi scheme is different from the ponzi scheme that only becomes tools, and we know that.

Maybe other countries can do it, but I can't say that all countries will do what you think. Because no one knows what will happen in the future.

[Litzki1990]

If crypto currency is directly approved in a country and if the government of that country makes a specific plan with crypto currency then this is possible. But users will always try to use popular exchanges. If a country brings a separate crypto exchange to the market, maybe a few people will use that exchange but the rest of the people will use the exchanges that are popular. If an exchange is only used by people of a certain country, then the volume of tokens of that exchange will not be very high. Because all other exchanges are used globally and if a country brings an exchange market only for their country, it is only natural that the trading volume will be less.

[koang]

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?

No, it's not possible...
The government's role is as an economic regulator or regulator who sets the direction for balancing the economy through issuing regulations that regulate policies in the economic sector, not as a "Player".
If an exchange is owned by the government, then the government has violated the concept of government itself and this is not possible.

[Rex067]

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?

Yes its possible for government to own and control a crypto exchange. Like Venezuelan government Petro exchange even the china government also. The control of crypto by the government can influence the prices or to control the supply of coins.

[joniboini]

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 the news is a bit misleading. As far as I'm aware, the state-backed trading system monitors registered exchange transactions and makes sure that they don't breach regulatory rules. It is a centralized hub that allows the government to easily monitor exchange data and capital health, not serving any retail traders like Binance, etc. Most Indonesian traders that I know of still use their favorite exchanges as usual, there's not even a campaign or socialization about this to end users. That's not surprising since the target is not them to begin with. CMIIW.

[Faisal2202]

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?

Hmm, it is a good question, what I think is they already have exchanges in their possession, maybe the government does not own them but the US government does control these exchanges, like how the SEC has fined Binance, Kraken, and some other exchanges just because their policy didn't match with the policy of the country where they are functioning. So, governments imposed huge fines on them and asked them to change their rules, so IMO if a entity is powerful enough to make changes in someone's project then that entity is close enough to owning that project.

So, yeah a time will come when whole exchanges will be owned by the government, but it would be almost equal to using a bank but for using digital tokens (tokenization of RWAs maybe). We can't enjoy the features of anonymity, decentralization, and scope as well.. But I doubt besides traditional investors and trades, anyone else will use these government-based exchanges.

[electronicash]

^  its true.  institutions like Blackrock appointed Coinbase as the Bitcoin custodian so there's got to be something that linked to these two which is SEC and SEC is the government.

government is like the biggest mafia in a country and if they really want to take down someone or get something like a company, they will start with the owner or the CEO and if not then the family of the owner. just filing crazy lawsuits just to get them. its mostly the reason why people wants anonymity.

[Google+]

I think the news is a bit misleading. As far as I'm aware, the state-backed trading system monitors registered exchange transactions and makes sure that they don't breach regulatory rules. It is a centralized hub that allows the government to easily monitor exchange data and capital health, not serving any retail traders like Binance, etc. Most Indonesian traders that I know of still use their favorite exchanges as usual, there's not even a campaign or socialization about this to end users. That's not surprising since the target is not them to begin with. CMIIW.

Well, finally someone has given a statement that is quite correct, at least as you have said, the government has regulations that are given to several exchange places that run in their country and I think also several governments in other countries have policies that are almost the same as this.

[KingsDen]

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

Everything is possible in the future. I believe that in the future each government will have their exchange and make all the citizens to register compulsorily and complete KYC. By this time will be the apex of censoring and control by the government. We are looking upto bitcoin decentralization to save us by this time because privacy coins might be defeated by then.

[bounceback]

I don't think, not good ideas each country has own local currency exchange market owned by government because most of them has difficult regulation exactly with some countries still against with bitcoin and altcoin. I think government just controlling with regulation only about the local currency exchange and its not matter although bitcoin not becoming legal currency transaction, in my country have several local exchange currencies but keep controlling by the personal owner not government, just allowing with government regulation and need their following before listing some new coins on the local exchange market currency.
If there are coins not get allowing from government regulation can't listing with our local exchange, its have running more than two years ago.

[milewilda]

I don't think, not good ideas each country has own local currency exchange market owned by government because most of them has difficult regulation exactly with some countries still against with bitcoin and altcoin. I think government just controlling with regulation only about the local currency exchange and its not matter although bitcoin not becoming legal currency transaction, in my country have several local exchange currencies but keep controlling by the personal owner not government, just allowing with government regulation and need their following before listing some new coins on the local exchange market currency.
If there are coins not get allowing from government regulation can't listing with our local exchange, its have running more than two years ago.

They wont really be easily making out such step. Come to think that El Salvador didnt create one considering that it had made out Bitcoin as a legal tender but doesnt mean that they would really be going into such far extent into this regard. We do know or indeed that still lots of government do really sees up Bitcoin or crypto to be a bad thing. Even though we do already have that ETF
approvals or integration but doesnt mean that its already that fine. We've seen exchange bans recently and this is something that would really be continuing to happen no matter what and
this is something that we cant really be able to stop once they would really be making out decisions.

[gunhell16]

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.

You know, sometimes that's the sad thing if they treat Bitcoin as bad or like a Ponzi scheme, but they don't think that fiat can also be used in Ponzi schemes to scam.

But there are other countries that support the CBDC where they don't like cryptocurrency or Bitcoin but want to create their own coin that they will list on exchanges that are regulated by the government. This is where you can see the discrimination, but their target is to get the communities into crypto or bitcoin.

[EthereumDev_]

You know, sometimes that's the sad thing if they treat Bitcoin as bad or like a Ponzi scheme, but they don't think that fiat can also be used in Ponzi schemes to scam.

But there are other countries that support the CBDC where they don't like cryptocurrency or Bitcoin but want to create their own coin that they will list on exchanges that are regulated by the government. This is where you can see the discrimination, but their target is to get the communities into crypto or bitcoin.

The Ponzi scheme was once a hype in its time and with Bitcoin it has become an alternative payment method for the Poinzzi system. I think to this day there are still many who use Bitcoin as other crimes because that is what finally created the rules for using Bitcoin so that no one loses because of Bitcoin.