Can governments crack down on crypto?

[PX-Z]

BTC was expected by Satoshi to become a currency, a crypto-currency, meaning that it could replace fiat in payments

Satoshi didn't think that way, Bitcoin was made as "alternative" not replacement to fiat either payment or by the use of it

Government can only crack down those centralised projects and the exchanges and can't do anything to those decentralised crypto projects.

They can if they want, remember how they handle mixers regardless if its decentralized or anonymous. They only need is to make a law, or even international law that prohibits crypto in any jurisdiction then start taking down this platforms, of course one will still create another but authorities won't stop just like they always do.

[Dr.Bitcoin_Strange]

Government can only crack down those centralised projects and the exchanges and can't do anything to those decentralised crypto projects. And because they can't do anything to the decentralised crypto projects, they have channelled their attention to the centralised crypto exchanges and cracking them down anyone which refused to obey the regulations. And like this many exchanges have left my country.

Yeah you are right, crypto coins like Bitcoin that is highly decentralized can never be cracked down by any government, a lot of government have tried and failed and they had no option than to use it as a means of exchange in there countries, Bitcoin has made a lot of people rich and has also helped build the economy of some countries, Bitcoin will soon be accepted in other countries because it helps in making transactions easy and very fast with less fee, those countries that has already accepted the use of Bitcoin are gaining from it right now they made some rules and regulations that will also favour them.
All this centralized crypto coins are shitcoins and a lot of them are scam they are the ones giving Bitcoin a bad image which is very bad and I'm in support of government bring them down, those shitcoins are created by scammers, they will create a coin and they will be the highest coin holders and they will start advertising for people to buy there coin and hold and when people starts buying and hodling the coin start having value and increasing in price then the creations of that particular coin will sell of all there coins and then make a very huge profit and the value of that coin will fall and those that bought that particular coin lose there money.

For me government should focus on cracking down centralized coin and accept decentralized coin, because those coins has helped grow the economy of the world and I believe it will do more to the world economy, the only problem is shitcoins some countries has already made the use of cryptocurrency illegal in there countries because of the high rate of scammers that are building coins every day.
And should be stopped in other for Bitcoin to have a good name and reputation.

[Agbe]

They can if they want, remember how they handle mixers regardless if its decentralized or anonymous. They only need is to make a law, or even international law that prohibits crypto in any jurisdiction then start taking down this platforms, of course one will still create another but authorities won't stop just like they always do.

You are right and looking at the previous scenarios, most if they want to bring bitcoin down, they might first start from the bitcoin forum and level the forum with one accusation and stop the domain and enter other side of Bitcoin but can they crack down bitcoin itself and it decentralised electrum wallet and other wallets like bluewallet and others? And if they can do that then there is nothing anonymous or decentralised that out of government reach.

[Hyphen(-)]

They can if they want, remember how they handle mixers regardless if its decentralized or anonymous. They only need is to make a law, or even international law that prohibits crypto in any jurisdiction then start taking down this platforms, of course one will still create another but authorities won't stop just like they always do.

You are right and looking at the previous scenarios, most if they want to bring bitcoin down, they might first start from the bitcoin forum and level the forum with one accusation and stop the domain and enter other side of Bitcoin but can they crack down bitcoin itself and it decentralised electrum wallet and other wallets like bluewallet and others? And if they can do that then there is nothing anonymous or decentralised that out of government reach.

The government can impose laws on the cryptocurrency platform and not the blockchain, they cannot stop any transaction that is going on in the blockchain, they can only track it and know the owner if it is from a centralized exchange, while if it is a peer-to-peer transaction outside any centralized body, I don't think they can handle that.
Moreover, decentralized wallets like Electrum, Blue wallet and others cannot be limited in my opinion, and if they were able to be stopped, offline wallets can still help since they can only track transactions, not the wallet.

[PX-Z]

The government can impose laws on the cryptocurrency platform and not the blockchain, they cannot stop any transaction that is going on in the blockchain, they can only track it and know the owner if it is from a centralized exchange, while if it is a peer-to-peer transaction outside any centralized body, I don't think they can handle that.
Moreover, decentralized wallets like Electrum, Blue wallet and others cannot be limited in my opinion, and if they were able to be stopped, offline wallets can still help since they can only track transactions, not the wallet.

That's true, that's why there are always gray area and TOR platforms such silk road was made before. What authorities will do is always take down the platforms to slow down the transactions getting made and stop the majority joining them. But that is a big what if, i cannot think that it can happen anytime 10-20 years by now as US and other countries are already invested aon these tech.

[KryptoBull]

The government can impose laws on the cryptocurrency platform and not the blockchain, they cannot stop any transaction that is going on in the blockchain, they can only track it and know the owner if it is from a centralized exchange, while if it is a peer-to-peer transaction outside any centralized body, I don't think they can handle that.
Moreover, decentralized wallets like Electrum, Blue wallet and others cannot be limited in my opinion, and if they were able to be stopped, offline wallets can still help since they can only track transactions, not the wallet.

Blockchain is a global technology and its operation is decentralized, meaning no single entity can destroy the entire blockchain. However, if governments truly wanted to, they could attack and accuse blockchain developers of certain crimes, such as creating tools that are abused by criminals. I'm not a lawyer, so I can't think of a more plausible reason, and it's not necessary to do so because we're seeing blockchain technology being developed by many countries, including China.

Mixers will be the next issue that governments will focus on if they really want to crack down on crypto money laundering. And I think that's all they can do. Currently, they want to accept and regulate crypto to collect taxes and gain more benefits from it, as El Salvador has done.

[philipma1957]

If the government's of the world want to set back crypto they could.

How about USA and China cut a backdoor deal.

China gets to sell  it's cheap ev cars to USA no tariff.

Both China and USA close all mines and all manufacturers  of gear.

Both China and USA require all citizens to deposit all coins in coinbase and binance under penalty of 20 years in the can if you don't do it.

This would set back crypto bigly.

Would it end crypto no.

Would it damage it yes.

[bayiajaib]

The government can impose laws on the cryptocurrency platform and not the blockchain, they cannot stop any transaction that is going on in the blockchain, they can only track it and know the owner if it is from a centralized exchange, while if it is a peer-to-peer transaction outside any centralized body, I don't think they can handle that.
Moreover, decentralized wallets like Electrum, Blue wallet and others cannot be limited in my opinion, and if they were able to be stopped, offline wallets can still help since they can only track transactions, not the wallet.

Blockchain is a global technology and its operation is decentralized, meaning no single entity can destroy the entire blockchain. However, if governments truly wanted to, they could attack and accuse blockchain developers of certain crimes, such as creating tools that are abused by criminals. I'm not a lawyer, so I can't think of a more plausible reason, and it's not necessary to do so because we're seeing blockchain technology being developed by many countries, including China.

Mixers will be the next issue that governments will focus on if they really want to crack down on crypto money laundering. And I think that's all they can do. Currently, they want to accept and regulate crypto to collect taxes and gain more benefits from it, as El Salvador has done.

When talking about the reasons that the government can use to ensnare Crypto developers because the technology is misused, it seems not just crypto with its technology decentralized. Lots of technology that is misused for crime, but developers can make a defense, he does not create technology to commit crimes but what is tried is the perpetrators of the crime itself not the technology.

[bounceback]

The government can impose laws on the cryptocurrency platform and not the blockchain, they cannot stop any transaction that is going on in the blockchain, they can only track it and know the owner if it is from a centralized exchange, while if it is a peer-to-peer transaction outside any centralized body, I don't think they can handle that.
Moreover, decentralized wallets like Electrum, Blue wallet and others cannot be limited in my opinion, and if they were able to be stopped, offline wallets can still help since they can only track transactions, not the wallet.

Government have full power to track transaction around the exchange wallet but lack expose when transaction using wallet only, I think government easily to stop regulation some exchange market but they can't hold on the cryptocurrency investor when holding their assets in their own wallet only.
Indeed the powerful of government for controlling cryptocurrency but not easy how many time bitcoin banned by top countries but its make bitcoin can reach most higher price before banned announcing. I remember well when China banned bitcoin but few months later price increasing drastically before banned.

[yohananaomi]

The government can impose laws on the cryptocurrency platform and not the blockchain, they cannot stop any transaction that is going on in the blockchain, they can only track it and know the owner if it is from a centralized exchange, while if it is a peer-to-peer transaction outside any centralized body, I don't think they can handle that.
Moreover, decentralized wallets like Electrum, Blue wallet and others cannot be limited in my opinion, and if they were able to be stopped, offline wallets can still help since they can only track transactions, not the wallet.

Government have full power to track transaction around the exchange wallet but lack expose when transaction using wallet only, I think government easily to stop regulation some exchange market but they can't hold on the cryptocurrency investor when holding their assets in their own wallet only.
Indeed the powerful of government for controlling cryptocurrency but not easy how many time bitcoin banned by top countries but its make bitcoin can reach most higher price before banned announcing. I remember well when China banned bitcoin but few months later price increasing drastically before banned.

Indeed, the government could impose regulations that might be able to provide limited control that can only be done on local exchanges, not on international exchanges, and it would be difficult to intervene in this matter.
It seems that it will be difficult to control cryptocurrencies because of their nature, which is indeed difficult to intervene. A ban can be made, but it does not rule out the possibility that there will still be those who trade illegally.
Usually it is like that, every time a big country. Every ban, it will have an impact that cannot be stopped to be able to provide encouragement for bitcoin to increase, something that is common.

[KryptoBull]

When talking about the reasons that the government can use to ensnare Crypto developers because the technology is misused, it seems not just crypto with its technology decentralized. Lots of technology that is misused for crime, but developers can make a defense, he does not create technology to commit crimes but what is tried is the perpetrators of the crime itself not the technology.

I also think Devs could argue that way, but governments will still find a way to punish them. The troubles that Tornado Cash Dev faced might become a barrier that makes many blockchain Devs worried and hesitant to continue working in this market. Everyone is afraid of getting into legal trouble, afraid of being prosecuted, afraid of having to compensate, afraid of being imprisoned.

I believe we still can't have a global legal framework for the blockchain and crypto market soon. This industry seems to be beyond our understanding and processing capabilities, it even confuses lawmakers and lawyers. We will need more time to continue testing, learning, and discussing legal proposals to manage this market effectively as we have done with the stock market.

• Tornado Cash Developer Alexey Pertsev Found Guilty, Sentenced to 64 Months in Prison by Dutch Court

[Dr.Bitcoin_Strange]

The government can impose laws on the cryptocurrency platform and not the blockchain, they cannot stop any transaction that is going on in the blockchain, they can only track it and know the owner if it is from a centralized exchange, while if it is a peer-to-peer transaction outside any centralized body, I don't think they can handle that.
Moreover, decentralized wallets like Electrum, Blue wallet and others cannot be limited in my opinion, and if they were able to be stopped, offline wallets can still help since they can only track transactions, not the wallet.

Government have full power to track transaction around the exchange wallet but lack expose when transaction using wallet only, I think government easily to stop regulation some exchange market but they can't hold on the cryptocurrency investor when holding their assets in their own wallet only.
Indeed the powerful of government for controlling cryptocurrency but not easy how many time bitcoin banned by top countries but its make bitcoin can reach most higher price before banned announcing. I remember well when China banned bitcoin but few months later price increasing drastically before banned.

Indeed, the government could impose regulations that might be able to provide limited control that can only be done on local exchanges, not on international exchanges, and it would be difficult to intervene in this matter.
It seems that it will be difficult to control cryptocurrencies because of their nature, which is indeed difficult to intervene. A ban can be made, but it does not rule out the possibility that there will still be those who trade illegally.
Usually it is like that, every time a big country. Every ban, it will have an impact that cannot be stopped to be able to provide encouragement for bitcoin to increase, something that is common.

Yeah a lot of countries have tried to stop cryptocurrency investment but is not working, some countries has even placed a ban on it and also made it illegal and any caught using crypto or involved in cryptocurrency investment or transaction will be arrested and prosecuted but that has not stopped people from using cryptocurrency or stopped them from investing in it or making transactions in cryptocurrency, the way cryptocurrency is structured no government can bring it down or stop it's citizens from using it, some of those countries that was once opposing the use of crypto coin has now accepted it and then put in rules and regulations that will guide those investors.
The reason why some countries don't want to accept cryptocurrency is because they feel cryptocurrency is bringing down there economy and also that cryptocurrency is is promoting cybercrime because if you make a money transaction to a coin address that you can't track down the person through the person's address and since one can't get the details of people that has a crypto account then it should not be used.

Those country that are still fighting cryptocurrency is wasting there time there's no way they can stop there citizens from using cryptocurrency is not possible except there will be a machine created to track down people using cryptocurrency but stop your citizens from using cryptocurrency is not necessary, cryptocurrency has made a lot of people very rich it is now a source of income to many people stop crypto is taking out people's source of income from them and making them suffer why not make a rule and regulation that will guide every investor that is what some countries has done and now those countries are now benefiting from it, a country like Nigeria has tried to make its citizens from using cryptocurrency but it couldn't work, the government even tried to track down people still involving in cryptocurrency investment and as they did that for some time when statistics came out in Africa the country since as the most interested in cryptocurrency it was still Nigeria, Nigeria was among top 5 countries.
However government policy can only reduce the growth of cryptocurrency cryptocurrency for some time but can't crack down crypto.

[yohananaomi]

When talking about the reasons that the government can use to ensnare Crypto developers because the technology is misused, it seems not just crypto with its technology decentralized. Lots of technology that is misused for crime, but developers can make a defense, he does not create technology to commit crimes but what is tried is the perpetrators of the crime itself not the technology.

I also think Devs could argue that way, but governments will still find a way to punish them. The troubles that Tornado Cash Dev faced might become a barrier that makes many blockchain Devs worried and hesitant to continue working in this market. Everyone is afraid of getting into legal trouble, afraid of being prosecuted, afraid of having to compensate, afraid of being imprisoned.

I believe we still can't have a global legal framework for the blockchain and crypto market soon. This industry seems to be beyond our understanding and processing capabilities, it even confuses lawmakers and lawyers. We will need more time to continue testing, learning, and discussing legal proposals to manage this market effectively as we have done with the stock market.

• Tornado Cash Developer Alexey Pertsev Found Guilty, Sentenced to 64 Months in Prison by Dutch Court
  

In my opinion, because countries do not have proper regulations, many are hesitant to do it, but for countries that have implemented it well, there are no problems with the law. A good country is willing to accept technological updates that are inevitable to be used both globally and individually, Because technology continues to advance so that government officials must also adapt. Actually, the government benefits greatly from the tax revenue imposed on each transaction that occurs, but it does require transactions with local exchanges and not others, so that at the same time they can monitor if there is any misuse.

[Hisbullah]

In my opinion, because countries do not have proper regulations, many are hesitant to do it, but for countries that have implemented it well, there are no problems with the law. A good country is willing to accept technological updates that are inevitable to be used both globally and individually, Because technology continues to advance so that government officials must also adapt. Actually, the government benefits greatly from the tax revenue imposed on each transaction that occurs, but it does require transactions with local exchanges and not others, so that at the same time they can monitor if there is any misuse.

I see that currently many countries are starting to accept bitcoin as an investment for their citizens, this is very good. because the government should support technological progress, not reject it. The government should start making regulations so that citizens who invest in crypto feel safe and protected. The government can take taxes from crypto transactions and this is a good income for the country.

[KryptoBull]

In my opinion, because countries do not have proper regulations, many are hesitant to do it, but for countries that have implemented it well, there are no problems with the law. A good country is willing to accept technological updates that are inevitable to be used both globally and individually, Because technology continues to advance so that government officials must also adapt. Actually, the government benefits greatly from the tax revenue imposed on each transaction that occurs, but it does require transactions with local exchanges and not others, so that at the same time they can monitor if there is any misuse.

According to game theory, when a major country adopts BTC, other countries tend to follow suit because they fear BTC will become extremely valuable in the future and they're missing out. This is FOMO at the national level and it will spread globally in the short term; it's just a matter of time. I believe this will happen soon after Trump implements new policies for BTC and crypto in the US.

Crypto tax can provide new sources of capital for governments. Governments always need money to operate their administrative, military, and charitable apparatuses, so governments love this. Issues related to money laundering aren't too serious because fiat is still the preferred tool of criminals. I think the only reason governments hate crypto is because of fiat's weakness compared to crypto. But the irony is that it's the weak governments that are printing money and causing the value of fiat to decline. In simpler terms, governments are creating inflation and they're actively fighting inflation as if inflation suddenly appeared and persisted in the economy.