Can governments crack down on crypto?

[Dr.Bitcoin_Strange]

At least we have a statement to believe in Trump's plan, and I support Trump in this election even though I can't vote. Trump's win will be a great opportunity for BTC and crypto to gain a mainstream position in the US economy, then the global economy.

If the US accepts crypto on a deep level such as BTC reserves for the national budget and has a clear legal framework, I believe other countries will not be left out of this wave. The US allies will immediately join, followed by most countries in the world. That will be the crypto era we have been waiting for, although this needs to be implemented in the long term, maybe the next 10 - 20 years.

A statement to believe in Trump’s plans? Sorry I don’t understand what you mean. I’m not saying Trump’s decisions and statements are lies but cmon all we’ve got right is just his words and there’s every tendency for all he’s saying to be just mere election propaganda, trust me that I also would really wish that all he’s saying is true and so are his intentions towards ensuring the mass adoption and recognition of Bitcoin in the US, but I don’t wanna get my hopes up only to have it crashing down. Honestly, inasmuch as I want it to be true and want to believe him, I’m still kinda skeptical about the whole situation. But hey, the fact still remains threat my skepticism wouldn’t matter much or even make any difference, if he’s gonna do it when/if he’s president, he’ll still do it regardless so let’s just watch and see.

[dekafee79]

At least we have a statement to believe in Trump's plan, and I support Trump in this election even though I can't vote. Trump's win will be a great opportunity for BTC and crypto to gain a mainstream position in the US economy, then the global economy.

If the US accepts crypto on a deep level such as BTC reserves for the national budget and has a clear legal framework, I believe other countries will not be left out of this wave. The US allies will immediately join, followed by most countries in the world. That will be the crypto era we have been waiting for, although this needs to be implemented in the long term, maybe the next 10 - 20 years.

A statement to believe in Trump’s plans? Sorry I don’t understand what you mean. I’m not saying Trump’s decisions and statements are lies but cmon all we’ve got right is just his words and there’s every tendency for all he’s saying to be just mere election propaganda, trust me that I also would really wish that all he’s saying is true and so are his intentions towards ensuring the mass adoption and recognition of Bitcoin in the US, but I don’t wanna get my hopes up only to have it crashing down. Honestly, inasmuch as I want it to be true and want to believe him, I’m still kinda skeptical about the whole situation. But hey, the fact still remains threat my skepticism wouldn’t matter much or even make any difference, if he’s gonna do it when/if he’s president, he’ll still do it regardless so let’s just watch and see.

We don't have to trust politicians, but sometimes famous people like trump can also affect the market if he says something. I don't 100% believe it but I also hope his words are true and can have a good effect on crypto. I also want to see other politicians support crypto so that the crypto market becomes more popular and this will increase the price of bitcoin.

[Dr.Bitcoin_Strange]

We don't have to trust politicians, but sometimes famous people like trump can also affect the market if he says something. I don't 100% believe it but I also hope his words are true and can have a good effect on crypto. I also want to see other politicians support crypto so that the crypto market becomes more popular and this will increase the price of bitcoin.

Donald Trump isn’t just a politician but also a powerful business tycoon with lots of influence, in the business market, and yeah, such a person can easily influence a tremendous change in the crypto market, and that’s why I’m strongly hoping that he actually does keep to his words because he’s really gonna make a huge turnaround for the crypto community. Even with the few announcements he’s made so far concerning Bitcoin is causing a pretty huge
Outcome in the market, so I’m imagining when he eventually becomes the president and eventually fulfill all his promises, the price of Bitcoin will suddenly skyrocket.

[Aanuoluwatofunmi]

Some things are not easily done by just a mere mouth, we have to work it out and put on every necessary effort in ensuring that it all becomes a success, governments should know this from the first instance that their power does not extend to regulating on cryptocurrency by any chance, then after knowing this, i think we should have a peace of mind that no regulation can bring it down.

[rizqillah]

Some things are not easily done by just a mere mouth, we have to work it out and put on every necessary effort in ensuring that it all becomes a success, governments should know this from the first instance that their power does not extend to regulating on cryptocurrency by any chance, then after knowing this, i think we should have a peace of mind that no regulation can bring it down.

The government can only make regulations to regulate local exchanges. They have no authority to enter global exchanges, the last time I read local exchanges provide data to the government in a country, I don't think that's something that worries us as investors, because the risk is that we only get taxed as long as we don't do illegal transactions, I think it's safe.

[KryptoBull]

The government can only make regulations to regulate local exchanges. They have no authority to enter global exchanges, the last time I read local exchanges provide data to the government in a country, I don't think that's something that worries us as investors, because the risk is that we only get taxed as long as we don't do illegal transactions, I think it's safe.

If we want crypto to thrive, we must accept government involvement. CEXs will be the first target for government intervention to ensure efficient tax collection. However, this comes with significant risks as users may not want governments monitoring all their activities. There's also the threat of crypto being banned again if governments change their stance.

Personally, I'm not ready to use government-backed CEXs. I prefer CEXs operated by crypto companies like Binance. The market should be decentralized rather than having liquidity controlled by governments with poor economic management.

[Parzival204]

Actually bitcoin depend on their investor without support from government keep increasing the higher price, but get difficult for selling or buying bitcoin without support bank deposit for the beginner when using local exchange currency market. I think government can't crack down totally with bitcoin but they have power to stop or banned bitcoin transaction from closing exchange market access until not allowed to withdraw crypto assets to fiat using bank account.
Today bitcoin have give positive impact and take benefit each other between by adopting taxes transaction for cryptocurrency, government will not suspend using bitcoin for transaction any more behind how much taxes earn every month.

I agree. Crypto without full support from governments around the world has reached this point where crypto dominates the online market. And even crypto with services that promise cheap and safe transactions. Making it even more popular today. As for if the government fully supports crypto as a currency This will probably be very good news for investors who have been involved in this investment for a long time.

[Celsius]

A country's government can temporarily influence the Bitcoin market if it wants to, but that influence does not last long.  Like assuming China has a lot of influence but China has banned Bitcoin several times before but the impact of that ban caused a temporary impact on the market but that impact didn't last long.  So the government of a country can't crack down on Bitcoin if it wants to, but it can temporarily create a negative reaction and there can be a kind of crack down in the market.

[KryptoBull]

A country's government can temporarily influence the Bitcoin market if it wants to, but that influence does not last long.  Like assuming China has a lot of influence but China has banned Bitcoin several times before but the impact of that ban caused a temporary impact on the market but that impact didn't last long.  So the government of a country can't crack down on Bitcoin if it wants to, but it can temporarily create a negative reaction and there can be a kind of crack down in the market.

I also don't think any government can completely eliminate crypto on a global scale. It's very difficult for all governments to agree on that, as crypto is generating revenue for many countries through taxes and promotion.

However, governments can suppress and make it difficult for crypto to develop in that country. China has suppressed crypto, and we haven't seen the development of crypto in that country, although blockchain is being researched and implemented by them. Chinese investors are not benefiting from this suppression, a legal framework accepting crypto is what we can expect in future!

[dansus021]

If you ask me Can governments crack down on crypto? Yes, governments are fully capable of cracking down on crypto that is really the answer for a single country so what I mean here a government can crack down on crypto in a country just like china that ban on bitcoin.

But in a whole earth I believe as long there is an internet no single government can take down the whole network

[densus88]

A country's government can temporarily influence the Bitcoin market if it wants to, but that influence does not last long.  Like assuming China has a lot of influence but China has banned Bitcoin several times before but the impact of that ban caused a temporary impact on the market but that impact didn't last long.  So the government of a country can't crack down on Bitcoin if it wants to, but it can temporarily create a negative reaction and there can be a kind of crack down in the market.

I also don't think any government can completely eliminate crypto on a global scale. It's very difficult for all governments to agree on that, as crypto is generating revenue for many countries through taxes and promotion.

However, governments can suppress and make it difficult for crypto to develop in that country. China has suppressed crypto, and we haven't seen the development of crypto in that country, although blockchain is being researched and implemented by them. Chinese investors are not benefiting from this suppression, a legal framework accepting crypto is what we can expect in future!

Yes, the government can only ban and cannot eliminate crypto in its country, because even though China bans crypto, many of its citizens still invest and mine. Nothing can stop crypto unless the government turns off the internet connection in the country.

[MRY]

A country's government can temporarily influence the Bitcoin market if it wants to, but that influence does not last long.  Like assuming China has a lot of influence but China has banned Bitcoin several times before but the impact of that ban caused a temporary impact on the market but that impact didn't last long.  So the government of a country can't crack down on Bitcoin if it wants to, but it can temporarily create a negative reaction and there can be a kind of crack down in the market.

I also don't think any government can completely eliminate crypto on a global scale. It's very difficult for all governments to agree on that, as crypto is generating revenue for many countries through taxes and promotion.

However, governments can suppress and make it difficult for crypto to develop in that country. China has suppressed crypto, and we haven't seen the development of crypto in that country, although blockchain is being researched and implemented by them. Chinese investors are not benefiting from this suppression, a legal framework accepting crypto is what we can expect in future!

Yes, the government can only ban and cannot eliminate crypto in its country, because even though China bans crypto, many of its citizens still invest and mine. Nothing can stop crypto unless the government turns off the internet connection in the country.

Exacty, Governments can make decisions and implement bans on cryptos but implementing a total ban is almost impossible due to the nature of cryptos. Like China, despite the government banning operations of the devices the citizens are carrying out crypto-related activities secretly or in one way or the other. This is due to the decentralized nature of transactions in the crypto market effective use of the Blockchain technology individual cannot be wholly controlled.

The only other possibility of stopping all crypto activities as we have seen in this paper, is to completely switch off the internet in the country – which is otherwise quite impossible in the long term, especially if it resets the whole economy and social lives. Moreover, experienced crypto users will always look for a way to remain connected to the blockchain network, operational via VPN and other technological connections. However, this phenomenon of innovative growth indicates that even if authorities attempt to regulate and ban crypto, this currency is going to remain present in different countries, including those countries with strict legislation.

[luckyledger]

A country's government can temporarily influence the Bitcoin market if it wants to, but that influence does not last long.  Like assuming China has a lot of influence but China has banned Bitcoin several times before but the impact of that ban caused a temporary impact on the market but that impact didn't last long.  So the government of a country can't crack down on Bitcoin if it wants to, but it can temporarily create a negative reaction and there can be a kind of crack down in the market.

I also don't think any government can completely eliminate crypto on a global scale. It's very difficult for all governments to agree on that, as crypto is generating revenue for many countries through taxes and promotion.

However, governments can suppress and make it difficult for crypto to develop in that country. China has suppressed crypto, and we haven't seen the development of crypto in that country, although blockchain is being researched and implemented by them. Chinese investors are not benefiting from this suppression, a legal framework accepting crypto is what we can expect in future!

Yes, the government can only ban and cannot eliminate crypto in its country, because even though China bans crypto, many of its citizens still invest and mine. Nothing can stop crypto unless the government turns off the internet connection in the country.

I do agree. As it was said by you and many others, the progress can be slowed, but can't be stopped fully.
Completely banning it anywhere means turning off the Internet

[yohananaomi]

Actually bitcoin depend on their investor without support from government keep increasing the higher price, but get difficult for selling or buying bitcoin without support bank deposit for the beginner when using local exchange currency market. I think government can't crack down totally with bitcoin but they have power to stop or banned bitcoin transaction from closing exchange market access until not allowed to withdraw crypto assets to fiat using bank account.
Today bitcoin have give positive impact and take benefit each other between by adopting taxes transaction for cryptocurrency, government will not suspend using bitcoin for transaction any more behind how much taxes earn every month.

I agree. Crypto without full support from governments around the world has reached this point where crypto dominates the online market. And even crypto with services that promise cheap and safe transactions. Making it even more popular today. As for if the government fully supports crypto as a currency This will probably be very good news for investors who have been involved in this investment for a long time.

The government clearly needs to be able to contribute to the ratification of crypto in the country, but cannot interfere in any way, and it can still run if the government does not ratify it. It is increasingly popular, but does not guarantee that many countries will always provide support, and there are still many who have not accepted crypto, and it takes more hard work from the community so that many countries know how important crypto is for their citizens. The existence of crypto provides a lot of help for the benefit of society in general, so there should be support from the local government.

[KryptoBull]

The government clearly needs to be able to contribute to the ratification of crypto in the country, but cannot interfere in any way, and it can still run if the government does not ratify it. It is increasingly popular, but does not guarantee that many countries will always provide support, and there are still many who have not accepted crypto, and it takes more hard work from the community so that many countries know how important crypto is for their citizens. The existence of crypto provides a lot of help for the benefit of society in general, so there should be support from the local government.

Currently, opposing crypto is no longer the goal of governments. I believe they've come to understand that crypto can offer more benefits than risks. Crypto deserves to exist and be regulated to generate tax revenue. I wouldn't be surprised if they've been studying crypto and accumulating thousands of BTC in their treasuries all along.

Government officials will be forced to listen to the opinions of crypto investors as they're becoming a significant part of the electorate. Younger generations will replace the older ones, and crypto will gradually penetrate the economy, although it may not fully replace fiat.