Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Fivestar4everMVP on April 24, 2025, 09:51:06 AM
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Hi everyone
I am asking this question out of curiosity and to also know what you guys think...
if the government of your country decides to launch a centralized cryptocurrency exchange specifically for her citizens which you are part of, will you shift your usage of other exchanges to this exchange without being forced?
1. That is, if the government did not ban the citizens from using other global exchanges, will you willingly switch to using the exchange from the government of your country?
2. If the government bans, and blocks citizens access to other exchanges except the country's own exchange, will you forcefully use the exchange or will you find alternative means of accessing other global exchanges?
Let's read your take on this and do forget to give clear reasons why you did choose whatever you choosed..
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To me if my country government launches their exchange and do not forcefully let us use it then I don't see any reason of switching to go used them to trade or sell whatever assets or cryptocurrency out there. The reason is because, they would want to have control of my assets and possibly keep monitoring it, and also will want me to be paying tax monthly or weekly for using them all these things would make me not to use them.
Again, of they forcefully let their people to use it then I am sensing something very dangerous which is already a red flag to me and I wouldn't mind totally avoid using them because, at first its a compulsion, 2ndly as something mandatory we should used. Anything like this doesn't usually ends in a bad way especially our country that is filled with corruption they wouldn't mind shorten down exchange and let our assets go without any remedy to replace it or restore it back. I could sight an example of E-Naira I don't think that platform is still existing till date due to lack of management and maintenance.
+1 karma for you
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First on the table, I don't see this possibility coming into reality in my lifetime as it is normal for any government not to have anything to do with cryptocurrency as a participant in doing business and I know that if the government is going to be involved it would just be a big mess. Now, in a scenario where there is ONLY ONE exchange operating and allowed to do business with cryptocurrency in my country and the government is giving all people the guarantee of safety and a refund in case of a hack then maybe I would reconsider my stand from NO to YES. The thing is there is more of a probability of that scenario happening in Mars than on Earth so maybe we should pressure Elon Musk to focus more on terraforming the red planet so we can be the first inhabitants to populate that planet. :D
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First on the table, I don't see this possibility coming into reality in my lifetime as it is normal for any government not to have anything to do with cryptocurrency as a participant in doing business and I know that if the government is going to be involved it would just be a big mess.
Russian central bank is planning to do something like that with the finance ministry but not to all investors but to some investors that has huge amount of money and that meet the criteria needed. I think OP asked the question because he has heard about the Russian government making such move.
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If my country government launches a crypto exchange and it's free for everyone to use then I'll use it at some point. I'll also use small funds there so they don't have control over my large funds. If they become the controller or manager of my assets, they will impose taxes on me and I will be forced to pay them. And if the government forces its use then it must be understood that there must be some fraud. However, if the government of my country makes the use of crypto completely free for individuals then we can create an account on the government exchange site because there will be no bad laws by the government.
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Actually, if any government include in any crypto exchange and if it will be profitable for all crypto currency users i think that i think that every person want to include this exchange. But i believe that any government can not do it easily. But if government can bear this risk, i think that it must be very helpful source for all crypto currency users. Because if we fall big losses from here and government want to help for this reason, i believe that it must be helpful for us.
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Our goal in trading crypto is to make a profit, whatever the name of the exchange. Whether it is a public exchange or a government-owned one, if the potential is high we will definitely make a profit I will trade there. There is no reason for us not to do it, unless the government-owned exchange has many rules such as large tax deductions then that will be another consideration later.
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Actually, if any government include in any crypto exchange and if it will be profitable for all crypto currency users i think that i think that every person want to include this exchange. But i believe that any government can not do it easily. But if government can bear this risk, i think that it must be very helpful source for all crypto currency users. Because if we fall big losses from here and government want to help for this reason, i believe that it must be helpful for us.
Doesnt matter whether a crypto exchange is owned by government or not, in speaking about profitability then it all matters still depending into someone because the only bad thing when you do deal up with government based kind of exchangers is that they do monitor out everything specially if its a local on on which at the time that you've been racking up profits and sees out your portfolio goes into those levels on which that needs up to be taxed then they could easily imposed it out since they can see everything and thats the bad thing about it if its that government owned. So the question for this one is i would be making use of this one then i would be avoiding it as much as possible, there's still tons of options that we do have in the market.
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I don't personally trust my government so it's a no for me goods thing may always be just a front since they are not familiar with crypto and the system has history of corruption and other anomaly I don't put my trust on them I will find an alternative whatever it takes for me to use crypto if they are banning other options.
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1. That is, if the government did not ban the citizens from using other global exchanges, will you willingly switch to using the exchange from the government of your country?
I will never consider that because I do not trust the government of my country; their motives are not always clearly defined. A new government can come up and use the submitted details for something else.
2. If the government bans, and blocks citizens access to other exchanges except the country's own exchange, will you forcefully use the exchange or will you find alternative means of accessing other global exchanges?
I will not be forced into using an only government exchange.
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1. That is, if the government did not ban the citizens from using other global exchanges, will you willingly switch to using the exchange from the government of your country?
no not really government owned platforms or institutions are usually non profitable so the quality is not the best besides i do not know how or why a government would want to set up a non profitable exchange
2. If the government bans, and blocks citizens access to other exchanges except the country's own exchange, will you forcefully use the exchange or will you find alternative means of accessing other global exchanges?
doing this defeats the purpose of what exchanges are they are supposed to allow for international transactions especially we are using cryptocurrencies that are supposed to beat the fees needed for international trades in other platforms
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Hi everyone
I am asking this question out of curiosity and to also know what you guys think...
if the government of your country decides to launch a centralized cryptocurrency exchange specifically for her citizens which you are part of, will you shift your usage of other exchanges to this exchange without being forced?
1. That is, if the government did not ban the citizens from using other global exchanges, will you willingly switch to using the exchange from the government of your country?
2. If the government bans, and blocks citizens access to other exchanges except the country's own exchange, will you forcefully use the exchange or will you find alternative means of accessing other global exchanges?
Let's read your take on this and do forget to give clear reasons why you did choose whatever you choosed..
actually I don't even trust my own government, let alone using their own exchange lol... My funds will be huge in risk. My opinion only..
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Before the current government administration of my country emerged, crypto activities were totally banned in my country but early this year, the ban was lifted as crypto is now legally approved. Considering the widespread acceptance of cryptocurrency by different governmental bodies around the globe, it's very possible that governments might want to have their own centralized exchanges in the future but should the government of my country do same, will I trade with them? Absolutely no.
I'm from a country where government established institutions are mostly porous and susceptible to external attacks because of poor regulations from government officials who in most times compromise in their duties so I'll not risk my hard-earned coins in such exchange when I know that security isn't fully assured. Again, another reason is that I'll not trust my personal data with a government's owned establishments
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I think some countries have their own exchanges, but I don't think they will have large capital flow in them. Well, to answer your question, mate, I am not willing to switch my funds to that exchange if this happens in my country, and in case I have to switch my funds on that exchange, then I hope things should be fine and relaxing there, like no useless regulation and extra taxes. because I think we may have to pay taxes on our holdings if that happens, because obviously when the government knows the holdings of its native people, they will start to impose taxes of different terms on our net holdings. What do you say?
On the other hand, we don't have to pay any extra amount to these exchanges. I know we have to pay a transaction fee, but these fees are too minor that anyone can pay without having any problem.
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1. That is, if the government did not ban the citizens from using other global exchanges, will you willingly switch to using the exchange from the government of your country?
2. If the government bans, and blocks citizens access to other exchanges except the country's own exchange, will you forcefully use the exchange or will you find alternative means of accessing other global exchanges?
Let's read your take on this and do forget to give clear reasons why you did choose whatever you choosed..
You asked really good questions, and I really liked this because I never thought of this, as recently my country has accepted crypto, they even made the Pakistan Crypto Council PCC and made CZ an advisor, which can be a big thing. We are doing wonders that, as crypto enthusiasts, we never expected, haha.
But if our government bring any exchnage I will definitely prefer it but only for trading, because either we trade in other exchanges or in this we still have to pay taxes, so why not using our own exchange, if anything happens like happened to Wazirx, which was a local exchange for Indians (AFAIK), if the reputation of local exchange becomes bad like wazirx then definitely leaving is the only option. A second country can't force us, but if they do, then we also don't have with any other option but to use the exchange.
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First on the table, I don't see this possibility coming into reality in my lifetime as it is normal for any government not to have anything to do with cryptocurrency as a participant in doing business and I know that if the government is going to be involved it would just be a big mess. Now, in a scenario where there is ONLY ONE exchange operating and allowed to do business with cryptocurrency in my country and the government is giving all people the guarantee of safety and a refund in case of a hack then maybe I would reconsider my stand from NO to YES. The thing is there is more of a probability of that scenario happening in Mars than on Earth so maybe we should pressure Elon Musk to focus more on terraforming the red planet so we can be the first inhabitants to populate that planet. :D
I understand your doubts about government involvement in cryptocurrency is understandable. The idea of a single government controlled exchange seems unlikely, and concern about potential mismanagement or over regulation are valid. But when consider the scenario of government backed exchange with robust security guarantees and refunds policies might change your stance. But the likelyhood of scenario unfolding seems remote.
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If there is no force, or other exchange services aren't banned or made inaccessible, I think I would stick with the ones I'm using right now, such as Binance, Bitget, and OKX. The reason is pretty simple, I have been using those exchanges for years, and have never faced any issues till this date, whether it's about trading, deposits and withdrawals, P2P trades, or anything in general, I have always been satisfied with the services even though they are centralized and I have provided them with my personal documents.
That being said, if the government launches its own exchange and then bans or blocks our access to other platforms only so that we use their exchange, in that case, I might or might not use it. If I feel that it is the easiest way to get things done and the user experience is good, which means there are no problems users facing or any other issues, I might use it, but if I can still find some other alternative, I might go for that instead.
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My government does have an exchange where they supported, it feels like they are watching over us already. I have been keeping myself aware of the surveillance that China is doing to their people. And I know it done by every government as well which can be scary at times because they would know your financial capability when they see you are trading on stocks and crypto.
When I learn that my government was backing one centralized crypto exchange, I knew would never try using it.
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First of all I will need to no the kind of government I have, if it was a government that ones hated cryptocurrency for long and later realized they need to accept cryptocurrency, I will not leave the exchange I'm using for the one established by the government because is better doing your cryptocurrency holding or trading were it doesn't concerns the country you live in because what if something happen in the government and they just cease all the money everybody has on their various account since they are the owners of the exchange.
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2. If the government bans, and blocks citizens access to other exchanges except the country's own exchange, will you forcefully use the exchange or will you find alternative means of accessing other global exchanges?
Is the punishment for not using it a trip to the firing squad at the stadium? Then everyone will be using it, and whoever says he will still avoid is just lying to themselves and to others, trying to pose as something. The moment you'll be faced with capital punishment, you will be remembering what you ate twenty days ago in the first day when it rained in March, not even close to using or not using an exchange.
I will not be forced into using an only government exchange.
Lol, yeah, nice hearing that from behind the keyboard.
I've lived under a dictatorship, where people were afraid to even talk bad about the government because you could endup dead in prison, once the police gets you and you get beaten, have your nails pulled with a plier and left naked with no food for a few weeks in a cell do you think you won't beg them to take all your coins and just let you go?
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It depends on the conditions.
Maybe yes, maybe not.
Because this is about business, when there is no compulsion to use the exchange, I would consider if:
- The transaction rate is at least the same as other CEXs, or even much cheaper
- Ease of transactions and buying and selling
- Ease and more affordable costs for withdrawing to a bank account
- Not complicated
Because for now, I myself also use one of the local CEXs in my country, which is of course subject to government regulations. so maybe the regulations will not be much different, and even the same.
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The government of my country has never been sincere when it comes to cryptocurrency usage and dealings so putting up such laws seems fishy because we would not know what they are up to as it is that in the past they have clamped done on crypto enthusiast, seizing accounts and many things done just to frustrate crypto currency trading in the country so they coming up with any policy of a national crypto exchange would look obvious because they would be up to something and if not compulsory, I would not dare use it as they can not be trusted.
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It doesn't matter if they ban or allow exchanges registered outside the jurisdiction. I mean I don't see the difference between government owned and government regulated exchanges. The main question here should still be would you entrust most of your money on this type of exchanges.
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2. If the government bans, and blocks citizens access to other exchanges except the country's own exchange, will you forcefully use the exchange or will you find alternative means of accessing other global exchanges?
Well, in that case I will find an alternative mean to access global exchanges but I don't think that in place where I live, there's going to be any such forceful actions for the citizens to go for government owned exchange instead of the global ones.
However, in case if such thing takes place in future then I'll most probably choose alternative way and there's chance that I might also use government owner exchange as that's still a safe option I guess.
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If the government forces people to use their exchange and kills every competition out there, I'd rather find options on the P2P market or something else. The track record of my government with data security or financial security is horrible, so if they do that I don't trust them that if shits hit the fan they'd be better than Bybit, Binance, etc. Heck, they'll likely be worse. I doubt they'd go as far as jailing people because they trade Bitcoin through P2P channels unless we go full dictatorial leadership in the future, so that's that.
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If the government forces people to use their exchange and kills every competition out there, I'd rather find options on the P2P market or something else. The track record of my government with data security or financial security is horrible, so if they do that I don't trust them that if shits hit the fan they'd be better than Bybit, Binance, etc. Heck, they'll likely be worse. I doubt they'd go as far as jailing people because they trade Bitcoin through P2P channels unless we go full dictatorial leadership in the future, so that's that.
That is strong and easy to understand position about government forcing people to use their own crypto trading platforms. Government is at keeping data and money safe are valid and that is big reason to be careful about this kind of thing. Comparing government potential exchange to well known international ones like Bybit and Binance and not trusting that government would handle things well if something bad happened makes a lot of sense.
Your preference for using P2P market or other ways to trade is good and with this we can control our money especially because we do not trust government. Point about it probably is unlikely for people to go to jail for trading Bitcoin through P2P channels unless country becomes full dictatorship in future. Cryptocurrency is spread out and not controlled by one place there are other options even if government tries to control things.
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I Will trade on a government centralize exchange but it is just for convert crypto into fiat money and paying little tax ;D because in coming future DEX is killing CEX or at least DEX is better than CEX. Because of Dex i got passive income in crypto weekly, will be better the government makes their own DEX too.
It is new something new technology related with blockchain it is the future of trading platform. So for trading activity i will use DEX than CEX.
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For me government are politicians, anything that comes from politicians are not always reliable at all. I must say that there are limited trust by the people on government efforts in handling their economy.
I doubt if I will ever trade on a government own crypto exchanges because, if many of them could not manage their respective economy properly, they will certainly be unable to manage a crypto exchanges, whether Cex or Dex.
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First of all I will need to no the kind of government I have, if it was a government that ones hated cryptocurrency for long and later realized they need to accept cryptocurrency, I will not leave the exchange I'm using for the one established by the government because is better doing your cryptocurrency holding or trading were it doesn't concerns the country you live in because what if something happen in the government and they just cease all the money everybody has on their various account since they are the owners of the exchange.
We can totally sit tight and see what services users are actually digging and whether the costs are reasonable. If the government considers crypto securities, then the fees will be super cheap, just like current stock trading fees. On the flip side, if these CEXs are just trying to stick around to tick a few investor boxes while making tax collection easier, then investors might want to eyeball some international CEXs for better liquidity and services.
Personally, I'll be chilling on the sidelines and keep using international CEXs before I even think about touching the ones under national management. I don't have a ton of faith and high hopes for governments that are stuck in their ways and don't really get the basics of crypto. Using their CEXs could come with a whole bunch of risks, you know?
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For me government are politicians, anything that comes from politicians are not always reliable at all. I must say that there are limited trust by the people on government efforts in handling their economy.
I doubt if I will ever trade on a government own crypto exchanges because, if many of them could not manage their respective economy properly, they will certainly be unable to manage a crypto exchanges, whether Cex or Dex.
Well, you are absolutely right, but for me, If I wasn't going to use a government owned exchange, it's possibly not going to be based on the fact I think they can't managed the exchange properly, because I think if governments can manage central banks properly because they know there where all the money they loot comes from, they can also manage their own exchanges properly because they are going be generating billions in dollars annually from that exchange if only the citizens will trust them enough to use the exchange.
The reason why I won't be using the exchange is solely based on privacy, government will definitely be monitoring everyone account and transactions, I won't like to be one of their victims.
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Hi everyone
I am asking this question out of curiosity and to also know what you guys think...
if the government of your country decides to launch a centralized cryptocurrency exchange specifically for her citizens which you are part of, will you shift your usage of other exchanges to this exchange without being forced?
1. That is, if the government did not ban the citizens from using other global exchanges, will you willingly switch to using the exchange from the government of your country?
2. If the government bans, and blocks citizens access to other exchanges except the country's own exchange, will you forcefully use the exchange or will you find alternative means of accessing other global exchanges?
Let's read your take on this and do forget to give clear reasons why you did choose whatever you choosed..
If the government of my country accepts the use and foreign exchanges as a means of trading, and they also create theirs, I will use theirs, but majorly use the foreign exchanges, because the foreign exchange doesn't have any regulations that will be demanded or needed by my government, as anonymity is their majors, while for the country's exchange, I will take full control of my funds input, and anything that is happening within that account will be watched and have to go with rules/regulations.
For the second, if the country's government blocks all other exchanges, making a strict rule of only using the country's exchange, I will use it, but will find an alternative to make use of a foreign exchange. The rule of not using foreign exchange will be for some self-motives, therefore, I won't want to be under such motives, as the government has not fully shown to be a good body of reliance over the years of financial struggle.
Big enough is the internet for the government to be able to block all means of using foreign exchanges, as there will always be away to bye pass their restrictions and still use the foreign exchanges.
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Hi everyone
I am asking this question out of curiosity and to also know what you guys think...
if the government of your country decides to launch a centralized cryptocurrency exchange specifically for her citizens which you are part of, will you shift your usage of other exchanges to this exchange without being forced?
1. That is, if the government did not ban the citizens from using other global exchanges, will you willingly switch to using the exchange from the government of your country?
2. If the government bans, and blocks citizens access to other exchanges except the country's own exchange, will you forcefully use the exchange or will you find alternative means of accessing other global exchanges?
Let's read your take on this and do forget to give clear reasons why you did choose whatever you choosed..
I wouldn’t trust the government of my country enough to transfer all my funds to their exchange. Because what if it’s their way of tracking each individual worth. Then they would now impose tax payments suddenly. Even if they move ahead to make it compulsory, I would definitely find a way to limit the usage.
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First on the table, I don't see this possibility coming into reality in my lifetime as it is normal for any government not to have anything to do with cryptocurrency as a participant in doing business and I know that if the government is going to be involved it would just be a big mess.
Russian central bank is planning to do something like that with the finance ministry but not to all investors but to some investors that has huge amount of money and that meet the criteria needed. I think OP asked the question because he has heard about the Russian government making such move.
Yeah, seems strange that hours after posting my reply above, I was even the one who broke the news in the News related to Crypto section: Unusual move: Russia’s central bank, finance ministry to launch crypto exchange (https://www.altcoinstalks.com/index.php?topic=329806.0). We are indeed in the time when many unusual things can happen. When I said that possibility is almost nil, I am talking from the perspective of someone based in my country where the government is giving more weight on private initiatives and is lessening its involvement with the business industries to avoid conflict of interest. But since it is Russia, we should expect the unexpected. The orientation on business of the Russian government can be so different with other countries especially mine and even compared to USA. Now, there is even a possibility that if Russia will be successful in this enterprise, China may even join the bandwagon which can be another big good news...hope that will also come soon.
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Why not, if the tax rates are fair and you don't want to evade any taxes then nothing wrong with using it. The positive thing is we don't share KYC details with third-party, we can trust the documents submitted with no second thoughts. But what are the possibilities of happening? El Salvador the only country accepted Bitcoin as legal tender isn't even thinking about that.
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1. That is, if the government did not ban the citizens from using other global exchanges, will you willingly switch to using the exchange from the government of your country?
I will not do that because the government already showed me that they don’t like cryptocurrency and bringing up a government owned centralized exchange is for the purpose of tracking my earnings and not to help with anything positive in my own opinion. I will just see this as another bank, because even the centralized exchanges now, they’re always forcing to get informations of user data’s from them which is not suppose to be so.
2. If the government bans, and blocks citizens access to other exchanges except the country's own exchange, will you forcefully use the exchange or will you find alternative means of accessing other global exchanges?
I will really look for another alternative to the best that I can, I will only settle for theirs if I don’t get any good one to settle for as alternatives. I just see all this as click bait and one should be very careful with the government when it comes to finances.
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I will trade on government exchanges if the requirements are not difficult, taxes are the same as other exchanges, it is not complicated in all matters when making withdrawals, and it can definitely provide profits, when the market is rising there is no drama of repairs or system maintenance that takes a long time, because the initial goal in crypto for me personally is to buy and seek profit, not socially for the country through taxes
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Here in our country we have a local crypto exchange which is coinsph, I used to be a user of it and later there was a p2p transaction that can go through e-commerce wallet apps, so now I am transferring my profits to crypto through e-wallet apps. Because there is no hassle, unlike coinsph its spread average is high.
But if there is no other choice, maybe I will use coinsph again, even if I don't want to or it is against my will. Because I have no choice
but to not get the profit I get from cryptocurrency.
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Hi everyone
I am asking this question out of curiosity and to also know what you guys think...
if the government of your country decides to launch a centralized cryptocurrency exchange specifically for her citizens which you are part of, will you shift your usage of other exchanges to this exchange without being forced?
1. That is, if the government did not ban the citizens from using other global exchanges, will you willingly switch to using the exchange from the government of your country?
A situation where the government of my country decides to launch a centralized cryptocurrency, I wouldn't immediately jump into it just because it's my government but would rather seek clarification on very critical questions such as, how protected and fortified is this centralized crypto, the information they would require to be captured into it will also be checked, how competitive is the coin in terms of pricing and trade transaction. wont this government wake up one day and just decide to freeze stiff peoples account as a means of fighting political enemies or something.
If all the questions are answered in all honesty and am convinced, then its fine, but I will still not go in full swing, but will keep engaging other crypto platforms as the saying goes "don't put all your eggs in one basket".
2. If the government bans, and blocks citizens access to other exchanges except the country's own exchange, will you forcefully use the exchange or will you find alternative means of accessing other global exchanges?
Let's read your take on this and do forget to give clear reasons why you did choose whatever you choosed..
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Hi everyone
I am asking this question out of curiosity and to also know what you guys think...
if the government of your country decides to launch a centralized cryptocurrency exchange specifically for her citizens which you are part of, will you shift your usage of other exchanges to this exchange without being forced?
1. That is, if the government did not ban the citizens from using other global exchanges, will you willingly switch to using the exchange from the government of your country?
2. If the government bans, and blocks citizens access to other exchanges except the country's own exchange, will you forcefully use the exchange or will you find alternative means of accessing other global exchanges?
Let's read your take on this and do forget to give clear reasons why you did choose whatever you choosed..
I have a very short answer: No. I don't want to use CEXs backed by my government.
We are still living in a one-party political system, and a free market doesn't exist in my country. There are many corruption cases happening within the stock market, causing investors to lose a lot due to the lack of integrity and transparency. I don't yet believe they can do better with crypto.
The issue of liquidity will also affect the use of these CEXs. A large exchange with a global scale usually has better liquidity than a local one; for example, Binance may always have better liquidity.
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If trading on a government platform were optional, I wouldn't prefer to trade on it because I want to maintain my privacy. However, if trading were mandatory, I would definitely use it because I need my nails! ;)
I mean, if the country is democratic, they certainly wouldn't force their citizens to use a government exchange. But if the country is dictatorial (like mine), I certainly wouldn't dare to maintain my privacy. I would prefer the violation of my privacy to going to prison, having my nails pulled out, or being tortured with whips, electrocution, and the like. I am a good citizen. :-X
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If trading on a government platform were optional, I wouldn't prefer to trade on it because I want to maintain my privacy. However, if trading were mandatory, I would definitely use it because I need my nails! ;)
I mean, if the country is democratic, they certainly wouldn't force their citizens to use a government exchange. But if the country is dictatorial (like mine), I certainly wouldn't dare to maintain my privacy. I would prefer the violation of my privacy to going to prison, having my nails pulled out, or being tortured with whips, electrocution, and the like. I am a good citizen. :-X
If there is really no other choice, that is really the only thing we can do, especially if the goal we value is our privacy, there will be no problem. Because the government of a democratic country also works for their citizens.
As long as they don't make us crypto enthusiasts suffer in this way, we know that when it comes to regulation, sometimes it seems like they also make their local exchange users suffer.
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I hope our government will not launch their own exchange. Our government is notorious for taxing its people, products, and services. It's okay if I see that the government is transparent and there's less corruption. If there is no option, I will trade with a small amount and try to do peer-to-peer.
Our government has the intention to tax cryptocurrency traders, and by using their own exchange, they will have access to traders wealth and holdings.
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Our government has the intention to tax cryptocurrency traders, and by using their own exchange, they will have access to traders wealth and holdings.
Even when it is not a government exchange, your data is actually already in the hands of a centralized party that we also do not know where your data has been sent... whoever the centralized party is, we cannot rely on it to secure our data... even some of them are still subject to government regulations that with several provisions will exchange information with the government of a particular country related to the assets owned by its citizens...
For me, transacting on a government exchange is indeed difficult to trust, but at least there we have less unwanted data distribution...
It doesn't matter if we have to pay taxes, as long as it can guarantee the security of the assets we own and the security of all of us...
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Hi everyone
I am asking this question out of curiosity and to also know what you guys think...
if the government of your country decides to launch a centralized cryptocurrency exchange specifically for her citizens which you are part of, will you shift your usage of other exchanges to this exchange without being forced?
1. That is, if the government did not ban the citizens from using other global exchanges, will you willingly switch to using the exchange from the government of your country?
2. If the government bans, and blocks citizens access to other exchanges except the country's own exchange, will you forcefully use the exchange or will you find alternative means of accessing other global exchanges?
Let's read your take on this and do forget to give clear reasons why you did choose whatever you choosed..
If the government of my country decides to launch a centralised cryptocurrency exchange, I will not even bother switching there, as long as it is not mandatory. If the government bans and block our access to other exchanges I will be left with no option except to accept the condition of the government, and switch to the country's exchange. But if it's not a must, I will not switch there. From what you called that kind of exchange, you said if governments decided to launch a CENTRALISED cryptocurrency exchange. You know from the word CENTRALISED, we the citizens will not have full rights on our assets and governments will also have some conditions that it will place on the citizens.
Government will also demand something in return from the citizens such as taxes and so on. It will not make any sense to me for someone to have control over my assets. If they are talking about improvements in countries, my country is a different case, must especially now that we're experiencing bad governance. That makes me think that even if the government of my country decides to launch a centralised cryptocurrency exchange, I don't think anything positive will come out of it.
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Even when it is not a government exchange, your data is actually already in the hands of a centralized party that we also do not know where your data has been sent... whoever the centralized party is, we cannot rely on it to secure our data... even some of them are still subject to government regulations that with several provisions will exchange information with the government of a particular country related to the assets owned by its citizens...
For me, transacting on a government exchange is indeed difficult to trust, but at least there we have less unwanted data distribution...
It doesn't matter if we have to pay taxes, as long as it can guarantee the security of the assets we own and the security of all of us...
This is true because once we share the data we have very little control whether the data goes to a centralised party or not especially if the party which receives the data is not transparent. However, it is more regulated in organised exchanges meaning there is higher level of security being offered by the government feels restrictive at times. This does not mean that we should accept all of these rules but the probability of data misuse or the possibility that the information we provide will end up with wrong hands is considerably low. One way is to select a platform that gives the user more control over their data and, in some cases, come with certain flexibility and consequences such as taxes which may be awkward at times.