Can governments crack down on crypto?

[KryptoBull]

I agree with your opinion, the government can take tax from transactions on local exchanges. This is very good for government revenue, of course the government must legalize crypto for investment and transactions on local exchanges.

With the widespread acceptance of crypto on a global scale, governments have figured out how to maximize the potential of crypto: they enact legal frameworks to manage, tax, and even operate their own CEXs to generate revenue. Fighting against crypto or suppressing crypto does not benefit the government, but instead creates opposition from the people and threatens their own political future.

I hope that taxes and revenue from crypto will be used effectively to protect investors and promote the development of crypto rather than being squandered by corrupt politicians.

[yohananaomi]

In my opinion, with the popularity of crypto now, perhaps even without government assistance, it can still develop, but with little chance. Even though some countries have legalized it, to develop more rapidly, assistance in the form of support from the government is also needed. In some countries, the government may not be able to legalize it, right? But if There is already a government in a developed country because it is involved in the world of crypto, maybe it will be a consideration for other countries to make it legal, right? famous platform and makes people interested in investing

Actually without government assistance, crypto will still exist, but with permission from the government, crypto investors will feel safe and this makes its citizens not afraid to invest in crypto. The government will benefit from crypto transactions, they can collect taxes from investors. Isn't this good for the government.

The government usually only provides clear regulations, so that there is legal certainty that can provide a sense of security for everyone who wants to do crypto transactions and there is no prohibition, so that they can do anything with crypto.
Moreover, the government can have control by requiring transactions by fiat using a local exchange, so that it can simultaneously collect taxes from every transaction that has occurred and the government benefits from targeted regulations.

I agree with your opinion, the government can take tax from transactions on local exchanges. This is very good for government revenue, of course the government must legalize crypto for investment and transactions on local exchanges.

If the country needs income to cover the deficit that occurs, of course, a very rational policy must be carried out. As you said that by legalizing crypto and, at least, it can be accepted and traded easily and with proper regulations, the government will be able to use its tools to take taxes from every exchange and trade that occurs on the local exchange and this is a very mutually beneficial policy.

[milewilda]

I agree with your opinion, the government can take tax from transactions on local exchanges. This is very good for government revenue, of course the government must legalize crypto for investment and transactions on local exchanges.

With the widespread acceptance of crypto on a global scale, governments have figured out how to maximize the potential of crypto: they enact legal frameworks to manage, tax, and even operate their own CEXs to generate revenue. Fighting against crypto or suppressing crypto does not benefit the government, but instead creates opposition from the people and threatens their own political future.

I hope that taxes and revenue from crypto will be used effectively to protect investors and promote the development of crypto rather than being squandered by corrupt politicians.

This is the only way or method on which they could be able to get engaged with crypto because if they would really be trying out to oppose or simply they would really be banning it out
then they've seen that it would be pointless since it couldnt be stopped and this is why they have realized that if they cant stop it then join them and now they are really that trying to get involved and that would really be starting from those centralized platforms on which they could be able to get a hold of. We are seeing them obviously trying out to manipulate the market
on which its pretty evident on what they are currently doing now.

[Hatchy]

Yes crypto can exist without government support due to its decentralized nature but then thriving in this world is a whole different ball game entirely. government restrictions is very much able to reduce liquidity, deter investment and hinder mainstream adoption ,While DeFi and P2P networks offer some level of flexilibity. the absence of a regulated and accessible framework can actually lead to the limitation in the growth of crypto. So,balanced regulations are crucial for sustainable development and the crypto community should advocate against overly restrictive measures.

[yohananaomi]

I agree with your opinion, the government can take tax from transactions on local exchanges. This is very good for government revenue, of course the government must legalize crypto for investment and transactions on local exchanges.

With the widespread acceptance of crypto on a global scale, governments have figured out how to maximize the potential of crypto: they enact legal frameworks to manage, tax, and even operate their own CEXs to generate revenue. Fighting against crypto or suppressing crypto does not benefit the government, but instead creates opposition from the people and threatens their own political future.

I hope that taxes and revenue from crypto will be used effectively to protect investors and promote the development of crypto rather than being squandered by corrupt politicians.

This is the only way or method on which they could be able to get engaged with crypto because if they would really be trying out to oppose or simply they would really be banning it out
then they've seen that it would be pointless since it couldnt be stopped and this is why they have realized that if they cant stop it then join them and now they are really that trying to get involved and that would really be starting from those centralized platforms on which they could be able to get a hold of. We are seeing them obviously trying out to manipulate the market
on which its pretty evident on what they are currently doing now.

Maybe what you said is true. There is no guarantee, to be able to ban and limit everyone from being able to invest, because of its nature it cannot be intervened in any way to be able to control it. Cypto can move on its own without any restrictions that may be done, because it is just a very futile job and will not be able to do that so they have to accept the reality of it and be willing to accept whatever has happened with the existence of crypto so far.

[dekafee79]

Maybe what you said is true. There is no guarantee, to be able to ban and limit everyone from being able to invest, because of its nature it cannot be intervened in any way to be able to control it. Cypto can move on its own without any restrictions that may be done, because it is just a very futile job and will not be able to do that so they have to accept the reality of it and be willing to accept whatever has happened with the existence of crypto so far.

no one can limit crypto, that's true because since the beginning of bitcoin's launch, many governments of a country have prohibited their citizens from investing and mining bitcoin, but it turns out that bitcoin has survived and is getting more expensive. this is proof that crypto cannot be limited.

[KryptoBull]

no one can limit crypto, that's true because since the beginning of bitcoin's launch, many governments of a country have prohibited their citizens from investing and mining bitcoin, but it turns out that bitcoin has survived and is getting more expensive. this is proof that crypto cannot be limited.

I agree that crypto cannot be destroyed by governments because crypto operates on a blockchain, and a blockchain is decentralized and belongs to everyone. Attempts to attack BTC have been around for a long time but have been unsuccessful because no one has enough economic power to compromise BTC's security.

However, governments still have enough power to hinder the development of crypto, as exemplified by the governments of China and Nigeria. When investors fear legal implications associated with crypto, they will opt for safer assets, and the market's liquidity will be severely damaged.

[luckyledger]

no one can limit crypto, that's true because since the beginning of bitcoin's launch, many governments of a country have prohibited their citizens from investing and mining bitcoin, but it turns out that bitcoin has survived and is getting more expensive. this is proof that crypto cannot be limited.

I agree that crypto cannot be destroyed by governments because crypto operates on a blockchain, and a blockchain is decentralized and belongs to everyone. Attempts to attack BTC have been around for a long time but have been unsuccessful because no one has enough economic power to compromise BTC's security.

However, governments still have enough power to hinder the development of crypto, as exemplified by the governments of China and Nigeria. When investors fear legal implications associated with crypto, they will opt for safer assets, and the market's liquidity will be severely damaged.

I totally agree.
The progress can be halved, but not stopped.
I think these countries see some risks and dangers in the crypto due to the fact they can't control it (and the funds flowing in it). They are literally scared by it.

[rizqillah]

no one can limit crypto, that's true because since the beginning of bitcoin's launch, many governments of a country have prohibited their citizens from investing and mining bitcoin, but it turns out that bitcoin has survived and is getting more expensive. this is proof that crypto cannot be limited.

I agree that crypto cannot be destroyed by governments because crypto operates on a blockchain, and a blockchain is decentralized and belongs to everyone. Attempts to attack BTC have been around for a long time but have been unsuccessful because no one has enough economic power to compromise BTC's security.

However, governments still have enough power to hinder the development of crypto, as exemplified by the governments of China and Nigeria. When investors fear legal implications associated with crypto, they will opt for safer assets, and the market's liquidity will be severely damaged.

The government can only limit the development of crypto projects like in China and Nigeria, but they can't stop crypto from circulating in their country unless they shut down the internet. Crypto will continue to run and many people will invest in it. So we don't need to worry about that.

[pieppiep]

no one can limit crypto, that's true because since the beginning of bitcoin's launch, many governments of a country have prohibited their citizens from investing and mining bitcoin, but it turns out that bitcoin has survived and is getting more expensive. this is proof that crypto cannot be limited.

I agree that crypto cannot be destroyed by governments because crypto operates on a blockchain, and a blockchain is decentralized and belongs to everyone. Attempts to attack BTC have been around for a long time but have been unsuccessful because no one has enough economic power to compromise BTC's security.

However, governments still have enough power to hinder the development of crypto, as exemplified by the governments of China and Nigeria. When investors fear legal implications associated with crypto, they will opt for safer assets, and the market's liquidity will be severely damaged.

The government can only limit the development of crypto projects like in China and Nigeria, but they can't stop crypto from circulating in their country unless they shut down the internet. Crypto will continue to run and many people will invest in it. So we don't need to worry about that.

Indeed, as crypto is decentralized in its nature, you can say that it is almost impossible to stop it altogether. Governments can try to ban projects in their countries but if internet is still available then people can use cryptos through international sources. Nevertheless, they also see that high levels of legislation can still have the effect of making the landscape of cryptocurrencies even smaller. For instance, while the Chinese can still buy digital assets, many prominent trading platforms have either relocated themselves or shut down all together, which means, instant access is no longer a thing.
 
Even if it is possible to use crypto, the legal status sometimes discourages the population to invest in it. As some of the users have pointed out, others may be concerned with the risks which arise from the legal framework or the possibility of access blocking as was the case in Nigeria. Therefore, even if we know that crypto will keep on running we must always watch out for new regulations and must always be willing to work under current conditions. But don’t lay back too much because business and technology environment is very competitive.

[luckyledger]

no one can limit crypto, that's true because since the beginning of bitcoin's launch, many governments of a country have prohibited their citizens from investing and mining bitcoin, but it turns out that bitcoin has survived and is getting more expensive. this is proof that crypto cannot be limited.

I agree that crypto cannot be destroyed by governments because crypto operates on a blockchain, and a blockchain is decentralized and belongs to everyone. Attempts to attack BTC have been around for a long time but have been unsuccessful because no one has enough economic power to compromise BTC's security.

However, governments still have enough power to hinder the development of crypto, as exemplified by the governments of China and Nigeria. When investors fear legal implications associated with crypto, they will opt for safer assets, and the market's liquidity will be severely damaged.

The government can only limit the development of crypto projects like in China and Nigeria, but they can't stop crypto from circulating in their country unless they shut down the internet. Crypto will continue to run and many people will invest in it. So we don't need to worry about that.

I too think this way.
The progress can be halted, but it can't be stopped.
The question is when the big fellas are going to understand the possibilities at hand.

[bayu7adi]

The government can only limit the development of crypto projects like in China and Nigeria, but they can't stop crypto from circulating in their country unless they shut down the internet.

Even with such policies, the government has proven to be able to destroy cryptocurrency prices, right? Like China, where all decisions related to cryptocurrency are always seen as important decisions that are even used as references by many large investors... as well as other large countries such as the US, Russia or other large countries... when regulations regarding cryptocurrency are decided, cryptocurrency prices will spontaneously be affected.

This means that the government of a country can actually destroy cryptocurrency by spreading news and regulations... however, I suspect that there are still some people who still want to use Bitcoin as a money-making asset too... so the country does not want to ban it completely.

[Nazor]

crypto can stand alone without being supported by the government, the development of crypto until now is mostly entrepreneurs or business people who are fighting for crypto to be famous until now so its value is very high. The government may be able to suppress crypto but there is little harm if they suppress it in their country because crypto technology is sophisticated and most countries take advantage of the crypto market.

[Themepen]

I agree that crypto cannot be destroyed by governments because crypto operates on a blockchain, and a blockchain is decentralized and belongs to everyone. Attempts to attack BTC have been around for a long time but have been unsuccessful because no one has enough economic power to compromise BTC's security.

However, governments still have enough power to hinder the development of crypto, as exemplified by the governments of China and Nigeria. When investors fear legal implications associated with crypto, they will opt for safer assets, and the market's liquidity will be severely damaged.

I also think this is real hard for government to control cryptocurrency like Bitcoin because it is decentralized and it uses blockchain technology. Governments have tried to attack Bitcoin before but it is still safe and growing in price overtime. However governments still have power to slow down cryptocurrency growth.

Because they can make strict rules or even ban it means they can set a punishment for those who will use crypto. This can not be good for market and stop cryptocurrency from developing. Governments should find balance between controlling and allowing innovation so cryptocurrency can grow.

[Zed0X]

crypto can stand alone without being supported by the government, the development of crypto until now is mostly entrepreneurs or business people who are fighting for crypto to be famous until now so its value is very high.

Let's be fair, the price of crypto would not have reached this high if not for Government's acceptance. A lot of mainstream users (including institutional investors) started buying when crypto was classified as an investment asset.