Crypto markets can exist without government permission

[MrSpasybo]

it should be possible. Currently there are also many DEXs that we usually use which certainly do not need legal permission from the government. and this makes it easier for all of us who want to use the exchange without KYC with ID, or having to pay tax for every transaction. However, if it is a CEX and it is in a certain country, then there is no choice but to comply with the regulations in that country. or the government will force the exchange to deactivate or not legalize its operations and this will definitely have a bad impact on reputation. Even though we don't expect control from the government, sometimes regulations are very restrictive and increasingly controlling.

Yeah, DEX is operated by a protocol, does not need an individual or organization to manage and operate, and CEX is a registered company and needs to fulfill legal obligations with the government. In case CEXs are banned, people can still trade via DEXs very easily and without anyone's permission. The government should allow crypto and find ways to manage it to collect additional taxes for the national budget.

While the CBN of Nigeria banned cryptocurrency transactions in all banks, the government was not against citizens investing in Bitcoin. If they were really against it, then it wouldn't have been possible for citizens to freely invest in it.

I don't really understand how the government can prohibit people from accessing, trading and owning BTC. As we said, CEXs are not the only option, people can trade via OTC or outside services easily. The government can impose heavy penalties for buying, selling or owning BTC, but the government does not have enough human and financial resources to carry out such a complicated job: they cannot check each address and trace its owner.

[MUGNIA]

I thought my country would not accept crypto as a means of payment, but they only want taxes on crypto, exchanges in my country are taxed.
making payments with crypto I don't think I will do it because in my opinion if you pay for something with crypto it is very lossy if the price of crypto is low

[kent47400]

I thought my country would not accept crypto as a means of payment,

As far as I know, cryptocurrency is Peer To Peer trading between traders without any involvement of third parties such as banks, governments or dealers.
The government is a third party and I am sure that they only impose cryptocurrency taxes to gain benefits for equal distribution of income in the country. Hmmm
Since the past and when Bitcoin was first created, it has been a digital asset for Peer To Peer trading, with this understanding, if the government does not have a stake in cryptocurrency, nothing will happen.

[TopT3ns]

As far as I know, cryptocurrency is Peer To Peer trading between traders without any involvement of third parties such as banks, governments or dealers.
The government is a third party and I am sure that they only impose cryptocurrency taxes to gain benefits for equal distribution of income in the country. Hmmm
Since the past and when Bitcoin was first created, it has been a digital asset for Peer To Peer trading, with this understanding, if the government does not have a stake in cryptocurrency, nothing will happen.

When you look at the whitepaper owned by Bitcoin and distributed in the early years Bitcoin was created, it is written that the initial plan was to create a single currency whose circulation could not be controlled by the government or other people because the price movements were regulated by ourselves, but now it seems like the government is starting to get into cryptocurrency by providing some regulations for the use of cryptocurrency in its country.

[LogitechMouse]

Re: Crypto markets can exist without government permission

The government has 3 choices. It's either they will ban it, they will accept it like what El Salvador did, or they will just remain neutral on it.

In our country, our government didn't say anything about cryptocurrency. No regulations, no ban whatsoever. What they're doing is just to give advices, and warnings to us investors to beware of scammers, and phishing attacks. Crypto markets can just exist without the permission of the government because at first place, they're aren't the ones who did it. I guess the good thing that they can do is to just give warnings to people like what our government is doing.

Unfortunately, there are some governments who are banning their people to use cryptocurrencies. Well anyway, crypto will continue to exists anyway. People will always find way to have access on it, and the government will either continue to ban it or just let other people have access on it.

[kent47400]

When you look at the whitepaper owned by Bitcoin and distributed in the early years Bitcoin was created, it is written that the initial plan was to create a single currency whose circulation could not be controlled by the government or other people because the price movements were regulated by ourselves,

So far, I only know Bitcoin and only trade it in various markets, but for the Bitcoin whitepaper, it seems I have passed that information.
That is, it turns out that Bitcoin was initially given for free to those who knew at the beginning about the creation of Bitcoin.
Lucky are those who know about Bitcoin at the beginning when it was first created.

but now it seems like the government is starting to get into cryptocurrency by providing some regulations for the use of cryptocurrency in its country.

Yeps, I also see that in the country I live in, there are lots of regulations regarding cryptocurrency which ultimately seem to narrow the space for cryptocurrency.
If it's like this, it means the government needs Bitcoin and Bitcoin doesn't need the government to be able to live in various markets.
The real proof is that there are now many regulations given by the government regarding the presence of Bitcoin.

[Doctor]

but now it seems like the government is starting to get into cryptocurrency by providing some regulations for the use of cryptocurrency in its country.

Yeps, I also see that in the country I live in, there are lots of regulations regarding cryptocurrency which ultimately seem to narrow the space for cryptocurrency.
If it's like this, it means the government needs Bitcoin and Bitcoin doesn't need the government to be able to live in various markets.
The real proof is that there are now many regulations given by the government regarding the presence of Bitcoin.

Regulations are needed to govern its citizens.  Although this doesn't mean the country needs bitcoin, it means the country needs to regulate its citizens.  The state gets taxes from crypto transactions carried out by its citizens as a return for the join given by the state to its citizens.
Crypto with or without the government will always exist but If crypto has been allowed by the government, we will feel more comfort and safer.

[kent47400]

but now it seems like the government is starting to get into cryptocurrency by providing some regulations for the use of cryptocurrency in its country.

The real proof is that there are now many regulations given by the government regarding the presence of Bitcoin.

Crypto with or without the government will always exist but If crypto has been allowed by the government, we will feel more comfort and safer.

That's right, that's the government's function regarding Bitcoin. The tax that is emphasized for cryptocurrency trading is what makes me feel uncomfortable because Bitcoin was previously banned in my country.
But after the boom in all cryptocurrencies including Bitcoin, the government is back by providing taxes to all cryptocurrency traders.

It is indeed safe and comfortable if cryptocurrency is legalized in a country, but in the country I live in, it seems like the government is just playing with cryptocurrency traders, as I discussed in the first paragraph.

[bitterguy28]

but now it seems like the government is starting to get into cryptocurrency by providing some regulations for the use of cryptocurrency in its country.

Yeps, I also see that in the country I live in, there are lots of regulations regarding cryptocurrency which ultimately seem to narrow the space for cryptocurrency.
If it's like this, it means the government needs Bitcoin and Bitcoin doesn't need the government to be able to live in various markets.
The real proof is that there are now many regulations given by the government regarding the presence of Bitcoin.

Regulations are needed to govern its citizens.  Although this doesn't mean the country needs bitcoin, it means the country needs to regulate its citizens.  The state gets taxes from crypto transactions carried out by its citizens as a return for the join given by the state to its citizens.
Crypto with or without the government will always exist but If crypto has been allowed by the government, we will feel more comfort and safer.

Actually it is all about taxation and about citizens security , look at how much scamming happening in crypto world now so what more if government will not interfere ? what can we expect in the long years now , yeah we have being taxed specially in decentralized and anonymous market but if we wanted to play long time here we have no choice but to abide with the government .
yeah we can use crypto without government but government will not allowed the use of this so best to deal with both parties.

[gunhell16]

Does your country have a plan to accept crypto? Are you willing to use crypto as a legal payment method alongside fiat currency?

There are local exchanges in our country that allow exchanging cryptocurrency legally because they are registered with the SEC government. So this means that our country is not strict with cryptocurrency as long as the local exchanges that we have here, like Coinsph and Gcrypto, are regulated by our government.

Although Binance here in our country seems to want to be blocked by our government if it does not comply with the requirements that need to be submitted by the platform,.

[Altcoin1998$]

I thought my country would not accept crypto as a means of payment, but they only want taxes on crypto, exchanges in my country are taxed.
making payments with crypto I don't think I will do it because in my opinion if you pay for something with crypto it is very lossy if the price of crypto is low

Bitcoin is not legalized in my country like your country so it will never be possible to accept payment through Bitcoin in my country. For now there won't be any negative impact on Bitcoin for my country. Bitcoin is not influenced by the world's most populous countries, especially China and India, which hold more than 40% of the world's population, but even if these two countries ban cryptocurrencies, it is not possible to make any changes in the Bitcoin market. For the time being, I think no government in the world can do any harm to the Bitcoin market.

[Litzki1990]

Governments may not directly regulate these cryptocurrencies. There are many countries where cryptocurrencies are banned outright but still people of those countries are using cryptocurrencies. If the government of those countries could completely control the cryptocurrency in their country, then the users would never be able to use the cryptocurrency from within the country. However, we as crypto users will always expect that no country's government can ever fully control cryptocurrencies. Because if you directly control the crypto currency, users from many countries will not be able to use it in any way.

[pacar_tiri]

Governments may not directly regulate these cryptocurrencies. There are many countries where cryptocurrencies are banned outright but still people of those countries are using cryptocurrencies. If the government of those countries could completely control the cryptocurrency in their country, then the users would never be able to use the cryptocurrency from within the country. However, we as crypto users will always expect that no country's government can ever fully control cryptocurrencies. Because if you directly control the crypto currency, users from many countries will not be able to use it in any way.

Indeed, basically, the government cannot regulate or control anything regarding the circulation of cryptocurrency, but so far, the government has succeeded in entering the world of cryptocurrency, and several countries have banned the use of cryptocurrency. But there are also governments that are aware of the increasingly developing technology, so their countries are allowed to develop with new technology. such as several countries that have received permission to use cryptocurrency from their governments.

[legend45]

the government cannot regulate or control anything regarding the circulation of cryptocurrency, but so far, the government has succeeded in entering the world of cryptocurrency, and several countries have banned the use of cryptocurrency. But there are also governments that are aware of the increasingly developing technology, so their countries are allowed to develop with new technology. such as several countries that have received permission to use cryptocurrency from their governments.

That's the fact, several countries ban bitcoin and crypto, but there are the government which allow and legalize  bitcoin.  So, I think bitcoin will exist although the government doesn't permit it.
As in my country, the government didn't legalize but didn't ban too. The citizens can do investing and also trading in bitcoin and crypto.

[doc]

No it is not possible. The government would ALWAYS strive to control crypto. It is much too powerful a financial instrument to be left floating around for criminals and rogue governments to utilize for their malicious purposes. The US Government through the SEC has made doubly sure about it. Even China and India are getting in on the act of crypto control

I think  No one can control crypto, although the government. US, Chinese  and India , I know They want to do, but It's impossible.
The Government just make regulations to reduce misused of crypto , for illegal activities or money laundering. Crypto currency will always exist.