Crypto markets can exist without government permission

[legend45]

After all, as a crypto user, it always requires recognition from the government so that every step we take can be protected by applicable law, so that there is no worry that could happen if we do anything to Crypto.
Indeed, quite a lot of governments have fully recognized every transaction, but there are also those who can only make transactions but cannot be used as a legitimate payment tool and be accepted first to Fiat be accepted, but there are also those who still refuse to accept be accepted. It is only natural and all will happen and all will happen be accepted time can accept.

Crypto investors need recognition and regulations from the government so that they are legally protected and crypto is not considered something illegal.
those investors will feel safe and this will attract new investors, because they feel legally protected. and the government can also get taxes from crypto transactions on local exchanges. so a mutualistic symbiosis between investors and the government.

Indeed, it can be critical to development for this investment to have a proper legal framework built around it and recognized by the government. With good regulations in place, investors will feel more secure because there is law that governs the rights of the investors in every contract.

It will also create new ways through which the government can collect tax revenues on the cryptocurrencies activities. This foster the mutual benefits whereby both investors and the government benefit in equal measure in the support of development of the digital economy.

But can  crypto market still exist without government regulation? I think from the begining of crypto where USDT or stable coin didn't exist yet crypto market stand alone. Altcoins during that time are priced in satoshi which I think was good. Today I guess every token and BTC can be bought with USDT and fiat.

Regulations are just there to collect tax, you can believe the government just interfere the market to make money out of it but at least they won't make it illegal.

Although the government takes advantage of our Crypto transaction tax, it is a little burdensome but I am grateful that the government in my country has allowed Crypto for investment.
The Crypto Market remains there without government regulations and haven't happened when several countries banned crypto but Bitcoin still survived until now? The rules of the government that make us comfortable because there is a permit to invest in Cryppto.

[lombok]

Although the government takes advantage of our Crypto transaction tax, it is a little burdensome but I am grateful that the government in my country has allowed Crypto for investment.
The Crypto Market remains there without government regulations and haven't happened when several countries banned crypto but Bitcoin still survived until now? The rules of the government that make us comfortable because there is a permit to invest in Cryppto.

Of course, it is annoying to pay taxes on transactions with cryptocurrencies, but government regulations make us feel more protected when investing. This regulation shows that government understands the existence of crypto as an investment asset, which also explain legal bodies in this highly unpredictable investment market.

I also think that we are still seeing that despite some countries have not allowed for the use of crypto, Bitcoin is still strong into the future. With these permits in place, we can move forward more assertively for crypto investment to note that government backing in creating this environment makes so much a stable ground for the ecosystem.

[Mr. Magkaisa]

Many countries still prohibit bitcoin, perhaps their consideration is because bitcoin is difficult to control and can be used as money laundering from corruption crimes and illegal activities, even though in my opinion it is not only bitcoin, crimes and money laundering can be done anywhere. Bitcoin is getting more popular and its price is getting higher, if the country still prohibits bitcoin they will be left behind from other countries.

The main concern has been about the control Of Bitcoin. If Bitcoin can't be control, then the rest of the laundering becomes a big problem for them but what about the fit currency they controlled by the Fed and central banks? There is still increase in high rate if money laundering reported by the government and yet they think Bitcoin is there main problem.

The thing is that people that do bad things look for opportunities and Bitcoin is just one of the place where money laundering can be done like their own failed fiat system and the privacy it has is what fear them to ban Bitcoin but time will tell whether they need Bitcoin or not.

     -     If we look at bitcoin and fiat from another angle, they have similarities. The question is, what is the similarity between bitcoin and Fiat in terms of purpose to use? Like, for example, Bitcoin and Fiat can both be used for good and bad purposes?

In this question, it is clear that if the person who buys Bitcoin is a bad person, it is possible that he will use the bitcoin for illegal purposes, and one of them is against the government's AML rules, in which this has also been done in Fiat for a long time, not yet. Bitcoin is created. So the only thing the government can do is change Bitcoin, but Bitcoin will continue for sure.

[rizqillah]

     -     If we look at bitcoin and fiat from another angle, they have similarities. The question is, what is the similarity between bitcoin and Fiat in terms of purpose to use? Like, for example, Bitcoin and Fiat can both be used for good and bad purposes?

In this question, it is clear that if the person who buys Bitcoin is a bad person, it is possible that he will use the bitcoin for illegal purposes, and one of them is against the government's AML rules, in which this has also been done in Fiat for a long time, not yet. Bitcoin is created. So the only thing the government can do is change Bitcoin, but Bitcoin will continue for sure.

You are right, it all depends on the user. FIAT and Bitcoin can be used for illegal things. But the government's concern is that bitcoin decentralization is difficult to track, if used for illegal activities, the government will have difficulty finding the perpetrators. That's why when bitcoin was launched many governments banned bitcoin from their countries. But now the government has started to allow bitcoin to be an investment.

[pieppiep]

     -     If we look at bitcoin and fiat from another angle, they have similarities. The question is, what is the similarity between bitcoin and Fiat in terms of purpose to use? Like, for example, Bitcoin and Fiat can both be used for good and bad purposes?

In this question, it is clear that if the person who buys Bitcoin is a bad person, it is possible that he will use the bitcoin for illegal purposes, and one of them is against the government's AML rules, in which this has also been done in Fiat for a long time, not yet. Bitcoin is created. So the only thing the government can do is change Bitcoin, but Bitcoin will continue for sure.

You are right, it all depends on the user. FIAT and Bitcoin can be used for illegal things. But the government's concern is that bitcoin decentralization is difficult to track, if used for illegal activities, the government will have difficulty finding the perpetrators. That's why when bitcoin was launched many governments banned bitcoin from their countries. But now the government has started to allow bitcoin to be an investment.

The issues that governments have with crypto are largely relating to issues of disclosure, and misuse. However, bitcoin is decentralized and this fact causes problems with tracking and therefore becomes a serious issue in many countries. Nevertheless, with time, there has been a revelation of how well crypto is a digital asset.

Some governments are gradually begin what may be described as accepting the possibility that bitcoin could be received as an acceptable investment vehicle and they are beginning to open up to try and control and use this possibly more efficiently. Such a decision indicates that there is a regulatory flexibility that lets us carry on we are participating in the crypto market. Now, the potential of bitcoin can be used with an opportunity to do it more as an alternative investment and still controlling the current legislation.

[MrSpasybo]

You are right, it all depends on the user. FIAT and Bitcoin can be used for illegal things. But the government's concern is that bitcoin decentralization is difficult to track, if used for illegal activities, the government will have difficulty finding the perpetrators. That's why when bitcoin was launched many governments banned bitcoin from their countries. But now the government has started to allow bitcoin to be an investment.

I think BTC is way more transparent than fiat. When you withdraw fiat from an ATM, anyone can move it around and use it without any reporting, making it nearly impossible to trace in many cases. With BTC, tracking is much easier, unless criminals use mixers to hide their identities.

Governments often use money laundering as an excuse to crack down on crypto, but the issue of money laundering was already a big problem before crypto existed, and fiat was always the preferred tool for criminals. I think governments aren't ready for BTC and crypto because they don't fully understand it and can't control it yet. Legal advancements for crypto in the US will be a classic example for other governments to follow and adopt in the future.

[yohananaomi]

     -     If we look at bitcoin and fiat from another angle, they have similarities. The question is, what is the similarity between bitcoin and Fiat in terms of purpose to use? Like, for example, Bitcoin and Fiat can both be used for good and bad purposes?

In this question, it is clear that if the person who buys Bitcoin is a bad person, it is possible that he will use the bitcoin for illegal purposes, and one of them is against the government's AML rules, in which this has also been done in Fiat for a long time, not yet. Bitcoin is created. So the only thing the government can do is change Bitcoin, but Bitcoin will continue for sure.

You are right, it all depends on the user. FIAT and Bitcoin can be used for illegal things. But the government's concern is that bitcoin decentralization is difficult to track, if used for illegal activities, the government will have difficulty finding the perpetrators. That's why when bitcoin was launched many governments banned bitcoin from their countries. But now the government has started to allow bitcoin to be an investment.

It is a natural thing for the government to do to avoid something that might be misuse of bitcoin for illegal transactions and the government cannot track because of the special nature of bitcoin which has that facility.
But a good government can make regulations so that it can be tracked with rules where every use of bitcoin must be exchanged for the applicable fiat and on the local exchange, that's all that can be done.
But I agree with you that if it is indeed used illegally, both bitcoin and fiat can be done the same.
Many countries have made it easy to be used as an investment and trade, but legal use must be exchanged first into fiat.

[enwi]

It is a natural thing for the government to do to avoid something that might be misuse of bitcoin for illegal transactions and the government cannot track because of the special nature of bitcoin which has that facility.
But a good government can make regulations so that it can be tracked with rules where every use of bitcoin must be exchanged for the applicable fiat and on the local exchange, that's all that can be done.
But I agree with you that if it is indeed used illegally, both bitcoin and fiat can be done the same.
Many countries have made it easy to be used as an investment and trade, but legal use must be exchanged first into fiat.

I believe it is quite logical that governments seek to combat Bitcoin abuse with special rules since the currency is nearly impossible to track. I would like to second that, good regulation actually offers security and freedom of use like making fiat conversions at local exchanges for supervision. As we will see they can both be manipulated and thus require strict supervision, nevertheless the difference does exist. It also became easier to use Bitcoin for investment and trading if the countries meet the existing legal requirements.

[luckyledger]

It is a natural thing for the government to do to avoid something that might be misuse of bitcoin for illegal transactions and the government cannot track because of the special nature of bitcoin which has that facility.
But a good government can make regulations so that it can be tracked with rules where every use of bitcoin must be exchanged for the applicable fiat and on the local exchange, that's all that can be done.
But I agree with you that if it is indeed used illegally, both bitcoin and fiat can be done the same.
Many countries have made it easy to be used as an investment and trade, but legal use must be exchanged first into fiat.

I believe it is quite logical that governments seek to combat Bitcoin abuse with special rules since the currency is nearly impossible to track. I would like to second that, good regulation actually offers security and freedom of use like making fiat conversions at local exchanges for supervision. As we will see they can both be manipulated and thus require strict supervision, nevertheless the difference does exist. It also became easier to use Bitcoin for investment and trading if the countries meet the existing legal requirements.

The thing is even though bad things can be made both with fiat and BTC, BTC cannot be tracked so easily.
Many would see it as an attack on BTC and such, and to some extent - they are right, but if people want to see the BTC adapted on a bigger scale, it's inevitable. There should be a compromise made in many questions to come.

[enoch_from_off]

You are right, it all depends on the user. FIAT and Bitcoin can be used for illegal things. But the government's concern is that bitcoin decentralization is difficult to track, if used for illegal activities, the government will have difficulty finding the perpetrators. That's why when bitcoin was launched many governments banned bitcoin from their countries. But now the government has started to allow bitcoin to be an investment.

I think BTC is way more transparent than fiat. When you withdraw fiat from an ATM, anyone can move it around and use it without any reporting, making it nearly impossible to trace in many cases. With BTC, tracking is much easier, unless criminals use mixers to hide their identities.

Governments often use money laundering as an excuse to crack down on crypto, but the issue of money laundering was already a big problem before crypto existed, and fiat was always the preferred tool for criminals. I think governments aren't ready for BTC and crypto because they don't fully understand it and can't control it yet. Legal advancements for crypto in the US will be a classic example for other governments to follow and adopt in the future.

I do agree - and I hope for everything that would be beneficial for the community in the times to come.
Fiat and crypto both can be used to different extent in what govs would see as "non-legal", however, bigger entities tend to see something they didn't work with previously as something harming or alien. So much so that much efforts are needed for them to come up with needed regulations or compromises in order to process further.

[dave_strider]

     -     If we look at bitcoin and fiat from another angle, they have similarities. The question is, what is the similarity between bitcoin and Fiat in terms of purpose to use? Like, for example, Bitcoin and Fiat can both be used for good and bad purposes?

In this question, it is clear that if the person who buys Bitcoin is a bad person, it is possible that he will use the bitcoin for illegal purposes, and one of them is against the government's AML rules, in which this has also been done in Fiat for a long time, not yet. Bitcoin is created. So the only thing the government can do is change Bitcoin, but Bitcoin will continue for sure.

You are right, it all depends on the user. FIAT and Bitcoin can be used for illegal things. But the government's concern is that bitcoin decentralization is difficult to track, if used for illegal activities, the government will have difficulty finding the perpetrators. That's why when bitcoin was launched many governments banned bitcoin from their countries. But now the government has started to allow bitcoin to be an investment.

Yep. That's the gist of it - for now, may countries, smaller especially, loosen their belts on the crypto in general.
Maybe in the future, things will become better - it seems like crypto become more adopted everywhere as time goes on, and the talk about it in so many different spheres proves that.

[MrSpasybo]

I do agree - and I hope for everything that would be beneficial for the community in the times to come.
Fiat and crypto both can be used to different extent in what govs would see as "non-legal", however, bigger entities tend to see something they didn't work with previously as something harming or alien. So much so that much efforts are needed for them to come up with needed regulations or compromises in order to process further.

Well, fiat currencies get misused for bad stuff too, and I'm not saying it's okay that crypto is used by criminals. But I want to point out the unfair treatment of crypto by governments right now. They use inaccurate data and just want people to believe their biased views on crypto value in the economy.

The ECB is a prime example, and some US politicians are trying to twist the facts to suit their own agendas. But the good news is, no matter what they say, we get a new block mined on the Bitcoin blockchain every 10m. Crypto is here to stay and isn't going down without a fight against these extreme, outdated government policies.

[albon]

It is a natural thing for the government to do to avoid something that might be misuse of bitcoin for illegal transactions and the government cannot track because of the special nature of bitcoin which has that facility.
But a good government can make regulations so that it can be tracked with rules where every use of bitcoin must be exchanged for the applicable fiat and on the local exchange, that's all that can be done.
But I agree with you that if it is indeed used illegally, both bitcoin and fiat can be done the same.
Many countries have made it easy to be used as an investment and trade, but legal use must be exchanged first into fiat.

I believe it is quite logical that governments seek to combat Bitcoin abuse with special rules since the currency is nearly impossible to track. I would like to second that, good regulation actually offers security and freedom of use like making fiat conversions at local exchanges for supervision. As we will see they can both be manipulated and thus require strict supervision, nevertheless the difference does exist. It also became easier to use Bitcoin for investment and trading if the countries meet the existing legal requirements.

Governments can certainly make bitcoin use free for everyone to invest and trade by enforcing existing laws. But any legal passed by the government of every country is looking at the profit of the government. So if the government wants to enforce any laws on the use of bitcoins, they must raise the issue of profit. We are making money in crypto and living life with that money. But the government always does more research on the negative aspects of an issue before accepting it. Since it is not possible to track someone with bitcoin transactions, there is a possibility of fraud. A lot of countries will support bitcoin in terms of country based business but we have to wait for a good news.

[Findingnemo]

Technically yes, but governments plays major role in the adoption of they are against the crypto then they will enforce unfair tax rate that pushes the people from using it away that is why we also need government support to take the crypto to next level but the positive is if one government does something good it will effect the Bitcoin overall and it could even force other governments to follow the same.

[nakmantu99]

It is a natural thing for the government to do to avoid something that might be misuse of bitcoin for illegal transactions and the government cannot track because of the special nature of bitcoin which has that facility.
But a good government can make regulations so that it can be tracked with rules where every use of bitcoin must be exchanged for the applicable fiat and on the local exchange, that's all that can be done.
But I agree with you that if it is indeed used illegally, both bitcoin and fiat can be done the same.
Many countries have made it easy to be used as an investment and trade, but legal use must be exchanged first into fiat.

I believe it is quite logical that governments seek to combat Bitcoin abuse with special rules since the currency is nearly impossible to track. I would like to second that, good regulation actually offers security and freedom of use like making fiat conversions at local exchanges for supervision. As we will see they can both be manipulated and thus require strict supervision, nevertheless the difference does exist. It also became easier to use Bitcoin for investment and trading if the countries meet the existing legal requirements.

Governments can certainly make bitcoin use free for everyone to invest and trade by enforcing existing laws. But any legal passed by the government of every country is looking at the profit of the government. So if the government wants to enforce any laws on the use of bitcoins, they must raise the issue of profit. We are making money in crypto and living life with that money. But the government always does more research on the negative aspects of an issue before accepting it. Since it is not possible to track someone with bitcoin transactions, there is a possibility of fraud. A lot of countries will support bitcoin in terms of country based business but we have to wait for a good news.

At the beginning of bitcoin's launch we saw many governments banning it because of concerns about bitcoin misuse. But eventually many countries have accepted bitcoin, because they think that when it is banned it becomes more expensive and more popular, it would be better for the government to allow it by being able to take tax from crypto transactions on local exchanges.