Can governments crack down on crypto?

[|MINER|]

There is no possibility of banning cryptocurrency or declaring it illegal. Because it is now spread all over the world. Many people in many countries are involved in it.  Crypto currency is now a global currency. BTC currency is used for online shopping in many countries. But in some countries it is still not legalized. But even then many of those countries are secretly involved in crypto currency.  But it is unlikely to be banned in countries where crypto currencies are already in use.

[yohananaomi]

There is no possibility of banning cryptocurrency or declaring it illegal. Because it is now spread all over the world. Many people in many countries are involved in it.  Crypto currency is now a global currency. BTC currency is used for online shopping in many countries. But in some countries it is still not legalized. But even then many of those countries are secretly involved in crypto currency.  But it is unlikely to be banned in countries where crypto currencies are already in use.

Agree, it will be difficult to ban the use of cryptocurrency, but for some countries, of course, there are still obstacles because the government clearly prohibits the use of anything in the form of crypto, although it is possible that if someone wants to play illegally, they will be able to do it, because the nature of crypto has no restrictions so that everyone can do it, but it is not recommended to violate these rules. Believe that one day everyone will have to accept it because the development of the times is heading in that direction, whoever does not follow will be left behind.

[legend45]

There is no possibility of banning cryptocurrency or declaring it illegal. Because it is now spread all over the world. Many people in many countries are involved in it.  Crypto currency is now a global currency. BTC currency is used for online shopping in many countries. But in some countries it is still not legalized. But even then many of those countries are secretly involved in crypto currency.  But it is unlikely to be banned in countries where crypto currencies are already in use.

Agree, it will be difficult to ban the use of cryptocurrency, but for some countries, of course, there are still obstacles because the government clearly prohibits the use of anything in the form of crypto, although it is possible that if someone wants to play illegally, they will be able to do it, because the nature of crypto has no restrictions so that everyone can do it, but it is not recommended to violate these rules. Believe that one day everyone will have to accept it because the development of the times is heading in that direction, whoever does not follow will be left behind.

I also agree that one day everything will be crypto in real time, but does a country as big as China not think about it and will be left behind by other countries. This is a question that until now I have not received an answer to why China is still strongly against crypto entering its country. Although its citizens can of course still invest in crypto even though the government does not allow it.

[Blaze]

There is no possibility of banning cryptocurrency or declaring it illegal. Because it is now spread all over the world. Many people in many countries are involved in it.  Crypto currency is now a global currency. BTC currency is used for online shopping in many countries. But in some countries it is still not legalized. But even then many of those countries are secretly involved in crypto currency.  But it is unlikely to be banned in countries where crypto currencies are already in use.

Agree, it will be difficult to ban the use of cryptocurrency, but for some countries, of course, there are still obstacles because the government clearly prohibits the use of anything in the form of crypto, although it is possible that if someone wants to play illegally, they will be able to do it, because the nature of crypto has no restrictions so that everyone can do it, but it is not recommended to violate these rules. Believe that one day everyone will have to accept it because the development of the times is heading in that direction, whoever does not follow will be left behind.

I also agree that one day everything will be crypto in real time, but does a country as big as China not think about it and will be left behind by other countries. This is a question that until now I have not received an answer to why China is still strongly against crypto entering its country. Although its citizens can of course still invest in crypto even though the government does not allow it.

However, the gist is that China seems to be in a big dilemma on whether or not to go for cryptocurrencies. There may be pros of crypto use such as reduction in fees, increased transparency and security, the government may consider dan pres and cons of this technology including evasion of taxes, uncontrollable capital flow, and impacts on the stability of the country’s financial system. An official ban could be a way to keep its economy and financial markets regulated as it has been while citizens will look for ways to invest outside of the ban.

Only time will tell how these policies will develop, particularly if the use of digital assets becomes widespread on the international level. It is possible that other countries will undertake measures that would have an impact on China’s standing in the global marketplace.

[KryptoBull]

Agree, it will be difficult to ban the use of cryptocurrency, but for some countries, of course, there are still obstacles because the government clearly prohibits the use of anything in the form of crypto, although it is possible that if someone wants to play illegally, they will be able to do it, because the nature of crypto has no restrictions so that everyone can do it, but it is not recommended to violate these rules. Believe that one day everyone will have to accept it because the development of the times is heading in that direction, whoever does not follow will be left behind.

Although it may not be possible to completely ban crypto, governments still have enough tools and power to hinder its growth. Therefore, we should never want crypto to be classified as a dangerous asset to the economy. I don't think a market can have high liquidity or easy access to capital from users if the majority of people believe that investing in that market is illegal.

Currently, most countries do not have a legal framework for crypto. Some have officially accepted crypto as an asset, while a few countries continue to ban crypto due to fears about risks to the national economy. When a few major countries accept crypto, this will change, and all countries will have to update their policies for this new asset class if they don't want to be left behind and lose their market advantage.

[albon]

Unlike conventional currencies, no government, central bank or any such organization approves it. Their value is fixed based on people beliefs. As the price of a commodity is determined by the market. As investors are responsible for increasing or decreasing the price of bitcoin so no country government can control its price even if it wants to. In addition since there is no opportunity for any country government or any financial institution to claim information on such digital currency, the government of most countries in the world and the high court of that country declared the production and transaction of cryptocurrency to be legally prohibited. But people of that country are using and investing in crypto keeping privacy. So the government of a country can legally ban it but crypto users can control the price increase and decrease.

[Themepen]

There is no possibility of banning cryptocurrency or declaring it illegal. Because it is now spread all over the world. Many people in many countries are involved in it.  Crypto currency is now a global currency. BTC currency is used for online shopping in many countries. But in some countries it is still not legalized. But even then many of those countries are secretly involved in crypto currency.  But it is unlikely to be banned in countries where crypto currencies are already in use.

I strongly agree that banning cryptocurrency is no longer possible. It is now big part of digital economy used by millions worldwide. Cryptocurrency is hard to control because it us decentralized and transactions are anonymous. Banning it would be impractical and could harm economies.

Bitcoin is accepted for online shopping in many countries showing its growing popularity. Even in countries where it is not allowed people still use it secretly. And my country is one of them.

[bounceback]

I strongly agree that banning cryptocurrency is no longer possible. It is now big part of digital economy used by millions worldwide. Cryptocurrency is hard to control because it us decentralized and transactions are anonymous. Banning it would be impractical and could harm economies.

Bitcoin is accepted for online shopping in many countries showing its growing popularity. Even in countries where it is not allowed people still use it secretly. And my country is one of them.

Believe or not, government not have full power banned cryptocurrency but easily to make new regulation with exchange market as the place for investor and holder purchasing bitcoin. We can hold bitcoin and altcoin assets on wallet but seems impossible store cryptocurrency assets without helped from exchange market.
I think many exchange got cases after government take their business and have allow with government regulation, I think government can make cryptocurrency crack down but its not existing for long term because holder and investor have more full power to make price dump.

[|MINER|]

I strongly agree that banning cryptocurrency is no longer possible. It is now big part of digital economy used by millions worldwide. Cryptocurrency is hard to control because it us decentralized and transactions are anonymous. Banning it would be impractical and could harm economies.

Bitcoin is accepted for online shopping in many countries showing its growing popularity. Even in countries where it is not allowed people still use it secretly. And my country is one of them.

I will also agree with you that banning cryptocurrency in any democratic country is definitely not possible. Because it has created a decentralized economic system that works peer to peer and that's why the government can't crack down crypto at will. Moreover, a cryptocurrency is not limited to only one country, it is connected to the places in the world where there is internet.
In this case, it can be said that in the countries where dictatorship is going on, people can be temporarily stopped from using cryptocurrency by shutting down the Internet, but in the future, they will have to open the Internet and for this reason, it is not possible to crackdown on cryptocurrency.

[Rami]

Governments have the ability to influence and regulate the crypto market significantly, but completely suppressing it is challenging due to its decentralized nature. While they can impose regulations, bans, and restrictions, many users and developers may find ways to circumvent these measures. Additionally, the global nature of cryptocurrencies means that actions taken by one government may not fully control or restrain the market as a whole. Ultimately, while governments can impact the crypto market, completely suppressing it is unlikely.

[Legion]

I strongly agree that banning cryptocurrency is no longer possible. It is now big part of digital economy used by millions worldwide. Cryptocurrency is hard to control because it us decentralized and transactions are anonymous. Banning it would be impractical and could harm economies.

Bitcoin is accepted for online shopping in many countries showing its growing popularity. Even in countries where it is not allowed people still use it secretly. And my country is one of them.

I will also agree with you that banning cryptocurrency in any democratic country is definitely not possible. Because it has created a decentralized economic system that works peer to peer and that's why the government can't crack down crypto at will. Moreover, a cryptocurrency is not limited to only one country, it is connected to the places in the world where there is internet.
In this case, it can be said that in the countries where dictatorship is going on, people can be temporarily stopped from using cryptocurrency by shutting down the Internet, but in the future, they will have to open the Internet and for this reason, it is not possible to crackdown on cryptocurrency.

As you already know, cryptocurrencies are very hard or even impossible to regulate or even eliminate in democratic countries since they are decentralized and allow for transactions between people all over the world. The larger state cannot easily wage aggressive warfare on the cyptocurrencies without destabilizing the world economy and internet. In countries with authoritarian governments it is relatively easy to shut it down and deny access but again this is only a short term solution. In conclusion, as the internet is back cryptocurrencies will stay and will continue to grow.

[royalRitta]

Governments have the ability to influence and regulate the crypto market significantly, but completely suppressing it is challenging due to its decentralized nature. While they can impose regulations, bans, and restrictions, many users and developers may find ways to circumvent these measures. Additionally, the global nature of cryptocurrencies means that actions taken by one government may not fully control or restrain the market as a whole. Ultimately, while governments can impact the crypto market, completely suppressing it is unlikely.

I do agree.
It can delay inevitable, but it sure can't stop it.
Crypto will be accepted one day all over the globe.

[legend45]

I strongly agree that banning cryptocurrency is no longer possible. It is now big part of digital economy used by millions worldwide. Cryptocurrency is hard to control because it us decentralized and transactions are anonymous. Banning it would be impractical and could harm economies.

Bitcoin is accepted for online shopping in many countries showing its growing popularity. Even in countries where it is not allowed people still use it secretly. And my country is one of them.

I will also agree with you that banning cryptocurrency in any democratic country is definitely not possible. Because it has created a decentralized economic system that works peer to peer and that's why the government can't crack down crypto at will. Moreover, a cryptocurrency is not limited to only one country, it is connected to the places in the world where there is internet.
In this case, it can be said that in the countries where dictatorship is going on, people can be temporarily stopped from using cryptocurrency by shutting down the Internet, but in the future, they will have to open the Internet and for this reason, it is not possible to crackdown on cryptocurrency.

As you already know, cryptocurrencies are very hard or even impossible to regulate or even eliminate in democratic countries since they are decentralized and allow for transactions between people all over the world. The larger state cannot easily wage aggressive warfare on the cyptocurrencies without destabilizing the world economy and internet. In countries with authoritarian governments it is relatively easy to shut it down and deny access but again this is only a short term solution. In conclusion, as the internet is back cryptocurrencies will stay and will continue to grow.

I think nothing can stop technology because crypto offers technological advances that can make it easier for users to gain financial freedom. Haven't we seen in the past that bitcoin was widely known in big countries and it turns out that bitcoin is still surviving and its price is getting more expensive. Isn't this proof that bitcoin and crypto will continue to exist and have a bright future.

[|MINER|]

I think nothing can stop technology because crypto offers technological advances that can make it easier for users to gain financial freedom. Haven't we seen in the past that bitcoin was widely known in big countries and it turns out that bitcoin is still surviving and its price is getting more expensive. Isn't this proof that bitcoin and crypto will continue to exist and have a bright future.

The point should be that no one can survive without the technology. Because there are many cases in the world where the government is using digital technologies according to them. If you talk about North Korea or if you talk about China, you will see these things there.
There are many cases in North Korea where everyone can't use the internet. I don't know if this has happened in any country other than North Korea, but I won't discount these things because the only places where the internet can be turned off for a while are those who are involved with cryptocurrency. Big losses will be faced.

[Dr.Bitcoin_Strange]

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.

After Bitcoin got created, the government did not accept it then and even until Bitcoin started to gaining alot of value, the government didn't contribute to its growth and I still don't see any very big thing that the government are doing  to promote BitcoinBitcoin,  because they are still the ones that called Bitcoin a scam from the start and yet in some countries, Bitcoin is still ban and people who are using Bitcoin in those countries are doing it secretly not to be caught.