Can governments crack down on crypto?

[luckyledger]

Cryptocurrency cannot be banned by the government because the system of cryptocurrency is not centralized, everyone has the right to have cryptocurrency coins. If the government banned cryptocurrency, it would have been done since the first time Bitcoin was born and the proof is that now Bitcoin is not banned, in fact Bitcoin has become a digital asset that is fought over. It also depends if a country bans cryptocurrency, then the country will definitely block all access to the cryptocurrency business, maybe some countries are banned but until now I don't know which countries have banned cryptocurrency.

They don't want to ban it outright, just to control it with regulations and all kinds of shenanigans
After all, there will be reserves of BTC created in the U.S. probably, so govs do understand the usability of crypto as something like a reserve, but it's still not a mass adoption of sorts. Not with BTC, at least.

[kai]

Cryptocurrency cannot be banned by the government because the system of cryptocurrency is not centralized, everyone has the right to have cryptocurrency coins. If the government banned cryptocurrency, it would have been done since the first time Bitcoin was born and the proof is that now Bitcoin is not banned, in fact Bitcoin has become a digital asset that is fought over. It also depends if a country bans cryptocurrency, then the country will definitely block all access to the cryptocurrency business, maybe some countries are banned but until now I don't know which countries have banned cryptocurrency.

They don't want to ban it outright, just to control it with regulations and all kinds of shenanigans
After all, there will be reserves of BTC created in the U.S. probably, so govs do understand the usability of crypto as something like a reserve, but it's still not a mass adoption of sorts. Not with BTC, at least.

My thoughts are also there, this government wants to create Bitcoin reserves because Bitcoin is like something that can be profited from. Basic thinking like this, then of course the government also wants to profit from Bitcoin.
This is just my thinking that could be hallucinating but I myself am sure that the government wants to find the best from Bitcoin profits because Bitcoin is now said to be a digital asset. The government must not be left behind because Bitcoin can create tax profits for state revenue.

[Baofeng]

Cryptocurrency cannot be banned by the government because the system of cryptocurrency is not centralized, everyone has the right to have cryptocurrency coins. If the government banned cryptocurrency, it would have been done since the first time Bitcoin was born and the proof is that now Bitcoin is not banned, in fact Bitcoin has become a digital asset that is fought over. It also depends if a country bans cryptocurrency, then the country will definitely block all access to the cryptocurrency business, maybe some countries are banned but until now I don't know which countries have banned cryptocurrency.

They don't want to ban it outright, just to control it with regulations and all kinds of shenanigans
After all, there will be reserves of BTC created in the U.S. probably, so govs do understand the usability of crypto as something like a reserve, but it's still not a mass adoption of sorts. Not with BTC, at least.

It's because they are going to make a lot of money as well, like tax with crypto regulations. And government knows it, so instead of outright ban or something, they embrace it. We have even heard countries that have Bitcoin reserves already.

So hopefully the trend will change in the next 10 years, instead of Bitcoin being look upon as something that is bad or gonna hurt the government, they should look at it as something that can give them more leeway in terms of financial gains as hedge or government reserves.

[kai]

Cryptocurrency cannot be banned by the government because the system of cryptocurrency is not centralized, everyone has the right to have cryptocurrency coins. If the government banned cryptocurrency, it would have been done since the first time Bitcoin was born and the proof is that now Bitcoin is not banned, in fact Bitcoin has become a digital asset that is fought over. It also depends if a country bans cryptocurrency, then the country will definitely block all access to the cryptocurrency business, maybe some countries are banned but until now I don't know which countries have banned cryptocurrency.

They don't want to ban it outright, just to control it with regulations and all kinds of shenanigans
After all, there will be reserves of BTC created in the U.S. probably, so govs do understand the usability of crypto as something like a reserve, but it's still not a mass adoption of sorts. Not with BTC, at least.

It's because they are going to make a lot of money as well, like tax with crypto regulations. And government knows it, so instead of outright ban or something, they embrace it.

Yes, in my country, Bitcoin was once banned from circulating so that the community in Indonesia was all afraid and preferred to remain silent and hide rather than voice or promote Bitcoin. But now our country Indonesia is clearly very different because it has accepted Bitcoin to be traded on a special cryptocurrency market, namely INDODAX.

We have even heard countries that have Bitcoin reserves already.
......

Really? Which countries do you know that have chosen Bitcoin as their reserve fund? I am very curious.

[bitterguy28]

They don't want to ban it outright, just to control it with regulations and all kinds of shenanigans

for sure the government has studied the purpose of crypto and has seen how profitable it can be if used correctly but the thing with the government is they would need to give up full control over their citizens if they admit that crypto is indeed useful and beneficial

see how there are central banks that get involved with crypto that is their way to somehow profit from crypto without exactly giving up control

[KryptoBull]

for sure the government has studied the purpose of crypto and has seen how profitable it can be if used correctly but the thing with the government is they would need to give up full control over their citizens if they admit that crypto is indeed useful and beneficial

see how there are central banks that get involved with crypto that is their way to somehow profit from crypto without exactly giving up control

Crypto has matured to the point where progressive governments are beginning to recognize and accept them. These governments are adopting a more positive stance towards crypto, favoring regulation over outright bans and taxation over incarceration of investors.

Traditional banks, once staunchly opposed to crypto, are now seeking ways to participate and capitalize on the market. This shift is only possible with governmental approval, signaling a promising future for crypto in the coming years.

Governments with extremely hostile attitudes towards crypto have the right to remain outside this financial wave. We cannot force their participation, nor is it strictly necessary for the success of crypto.

[enoch_from_off]

for sure the government has studied the purpose of crypto and has seen how profitable it can be if used correctly but the thing with the government is they would need to give up full control over their citizens if they admit that crypto is indeed useful and beneficial

see how there are central banks that get involved with crypto that is their way to somehow profit from crypto without exactly giving up control

Crypto has matured to the point where progressive governments are beginning to recognize and accept them. These governments are adopting a more positive stance towards crypto, favoring regulation over outright bans and taxation over incarceration of investors.

Traditional banks, once staunchly opposed to crypto, are now seeking ways to participate and capitalize on the market. This shift is only possible with governmental approval, signaling a promising future for crypto in the coming years.

Governments with extremely hostile attitudes towards crypto have the right to remain outside this financial wave. We cannot force their participation, nor is it strictly necessary for the success of crypto.

Govs that think crypto is not beneficial for them in the slightest may think about it in the same flow further, however, it will be too late for them to catch up to those who created reserves, invested in it, etc.

[yohananaomi]

as a very wise government should consider the benefits that will be received with the existence of bitcoin compared to the opposite., No matter how many people already understand and use bitcoin, and of course, a solution must be found so that it can be accepted and finally be useful for the community and the government itself., Control can be done with every exchange transaction must go through a local exchange that has permission from the government so that at least it can receive tax results for every transaction that occurs.

Yes, the government can collect taxes from local stock exchange transactions, this is very good for state revenue. But some people focus more on the global stock exchange and maybe the government has difficulty collecting taxes from it.
Maybe in the future there will be regulations about it, although I think the government will have difficulty entering the global stock exchange.

If the goal is for the good and its use is clear, maybe the public will support the policy of not using the global exchange and focusing more on the local exchange so that the government can benefit from every transaction that occurs., so far, maybe many do not support it, because there is no transparency in the government that if there is a regulation to seek income from the local exchange, of course it is very difficult to get support. It is clear that it will not be possible for the government to regulate the global exchange to be intervened and that has exceeded their authority.

[enoch_from_off]

as a very wise government should consider the benefits that will be received with the existence of bitcoin compared to the opposite., No matter how many people already understand and use bitcoin, and of course, a solution must be found so that it can be accepted and finally be useful for the community and the government itself., Control can be done with every exchange transaction must go through a local exchange that has permission from the government so that at least it can receive tax results for every transaction that occurs.

Yes, the government can collect taxes from local stock exchange transactions, this is very good for state revenue. But some people focus more on the global stock exchange and maybe the government has difficulty collecting taxes from it.
Maybe in the future there will be regulations about it, although I think the government will have difficulty entering the global stock exchange.

If the goal is for the good and its use is clear, maybe the public will support the policy of not using the global exchange and focusing more on the local exchange so that the government can benefit from every transaction that occurs., so far, maybe many do not support it, because there is no transparency in the government that if there is a regulation to seek income from the local exchange, of course it is very difficult to get support. It is clear that it will not be possible for the government to regulate the global exchange to be intervened and that has exceeded their authority.

In the future, there will be CDBC, so there won't be the need for something local, sorta, for the governments, at least that's how I see it Of course, there may be a digital yuan and other fiat-based currencies on a national level, however, the Central Bank's should become one of the biggest of them.

[Celph]

Governments can definitly try to regulate crypto, but it's a tricky beast to tame.
They can try to control exchlange wallets, and businesses, but crypto's decentralized nature makes it hard to rein in.Governments want to regulate to protect consumrs, prevent money laundering, and maintain financial stability. That makes sense.
But crypto enthhusiasts worry regulation will stiffle innovation, limit financial freedom, and give governments too much power.
It's a delicate balance. Governmants will keep trying to regulate, but crypto will adapt.
The thing is, crypto's not going away. It's a global phenomenon, and people are invested - literally. Governments need to find a way to work with crypto, not against it. Maybe that means creating clear guidelines and regulations that encourage innovation while protecting users.b
But what happens next is anyone's guess. Will governments succeed in taming crypto, or will it continue to thrive in the shadows? One thing's for sure - the world is watching, and the future of finance hangs in the balance.

[erus]

Crypto will move on because of decentralized, the government cannot intervene in the presence of Crypto. As far as I know, the first crypto, Bitcoin, continued, continued and no one stopped, now the government has bitcoin for their assets so that they can become a backup fund. The presence of the government included in the ranks of Hodler Bitcoin is proof that the government will not be able to "crack down" crypto.

[KryptoBull]

Crypto will move on because of decentralized, the government cannot intervene in the presence of Crypto. As far as I know, the first crypto, Bitcoin, continued, continued and no one stopped, now the government has bitcoin for their assets so that they can become a backup fund. The presence of the government included in the ranks of Hodler Bitcoin is proof that the government will not be able to "crack down" crypto.

BTC might be a special case because it has a fully decentralized POW network globally and no government can influence it, and BTC is also widely accepted in many countries. However, some projects are still centralized, like Ripple, and we've seen what the SEC did to Ripple: the SEC caused Ripple to have a failed 2021 uptrend.

Some countries have a negative view of crypto and they are still imposing many bans to hinder the development of this market, such as China. I don't think that the crypto market in China can develop even though blockchain is still a technological highlight there.

[erus]

Crypto will move on because of decentralized, the government cannot intervene in the presence of Crypto. As far as I know, the first crypto, Bitcoin, continued, continued and no one stopped, now the government has bitcoin for their assets so that they can become a backup fund. The presence of the government included in the ranks of Hodler Bitcoin is proof that the government will not be able to "crack down" crypto.

BTC might be a special case because it has a fully decentralized POW network globally and no government can influence it, and BTC is also widely accepted in many countries. However, some projects are still centralized, like Ripple, and we've seen what the SEC did to Ripple: the SEC caused Ripple to have a failed 2021 uptrend.

BTC must be a special coin for a country with various rules, while Ripple is an altcoin that can be dumped by its founder on the market and I just found out that Ripple is actually a centralized coin, do you know where the information about Ripple is a centralized coin comes from?

Some countries have a negative view of crypto and they are still imposing many bans to hinder the development of this market, such as China. I don't think that the crypto market in China can develop even though blockchain is still a technological highlight there.

That means a country with a large market cap and a large population is also not convincing to open a free space for crypto, right?
Whereas what I know is that China has a very advanced economy and technology, if it supports crypto then it will definitely be very successful.

[Gurujebs]

In the future, there will be CDBC, so there won't be the need for something local, sorta, for the governments, at least that's how I see it Of course, there may be a digital yuan and other fiat-based currencies on a national level, however, the Central Bank's should become one of the biggest of them.

Which CBDC are you talking about? Apart from the one already launched? There is CBDC and they are one of the most failed financial institutions in the traditional finance, they just wanted to create something with zero impact on financial system, even the government and the central bank know this but their were interested in wasting tax payers money.

CBDC is nothing different than the stable coins that we have in the crypto space and I can tell you that usdt, usdc are even more recognizable than those things call CBDC. The one in my country is failure, so it's definitely not something that will be coming again in the future unless the want to waste another money and print more doallrs.

[Celph]

Bro, governments can defo crack down on crypto!
They got loads of ways to do it, really. They could litrrallyMake new laws to control exchanges and wallets,Freeze or seize your crypto if they think you're up to no good which is particularly wild,Block access to crypto sites.
Remember when China banned crypto? Or when the US SEC started goin' after ICOs? That was wild, bruv!
But, thing is, crypto's decentralized, so it's hard to control. Governments are still tryin' to figure it out.
Some countries are chill with crypto, like Japan and Singapore. But others, like India, wanna ban it altogether.