Can governments crack down on crypto?

[rizqillah]

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.

Yes we have heard that ripple had problems with the SEC, but it seems to have passed. but some say it will continue.
China has its own policies that we do not understand why China has banned bitcoin until today? The Chinese government prohibits mining, so many Chinese citizens mine in other countries.

[Captain Corporate]

This is forutnately only limited to price of bitcoin. They can ban exchanges, ban trading, ban even holding, but they can't ban itself from doing anything, you can still use it illegally and they do not have any control. Remember, this isn't some company, this isn't some product, this is decentralized bitcoin meaning NOBODY has the power to stop it, not even the biggest countries in the world could get together and stop this. Meaning, they can only ban it, and make the price go down. But they are not even remotely interested in that, they are doing ETF and even working on CBDC right now, so like I said, they are happy.

[Tribalchief]

This is forutnately only limited to price of bitcoin. They can ban exchanges, ban trading, ban even holding, but they can't ban itself from doing anything, you can still use it illegally and they do not have any control. Remember, this isn't some company, this isn't some product, this is decentralized bitcoin meaning NOBODY has the power to stop it, not even the biggest countries in the world could get together and stop this. Meaning, they can only ban it, and make the price go down. But they are not even remotely interested in that, they are doing ETF and even working on CBDC right now, so like I said, they are happy.

Though, I believe they still hate the financial freedom that Bitcoin gives, but as it stands, it's very clear to them that there is nothing that can be done. So rather than just continuing to embarrass themselves, they just go about seizing assets that are in Bitcoin from those who might have taken the wrong part, and selling them back to the Bitcoin market, maybe to cause FUD or something. But most especially, to make some free profits for the allege countries they represent.

But the most important thing is that Bitcoin is already here to stay. The earlier everybody accepts, the better for us as well.

[KryptoBull]

Though, I believe they still hate the financial freedom that Bitcoin gives, but as it stands, it's very clear to them that there is nothing that can be done. So rather than just continuing to embarrass themselves, they just go about seizing assets that are in Bitcoin from those who might have taken the wrong part, and selling them back to the Bitcoin market, maybe to cause FUD or something. But most especially, to make some free profits for the allege countries they represent.

But the most important thing is that Bitcoin is already here to stay. The earlier everybody accepts, the better for us as well.

I believe no government actively dislikes BTC anymore. They're likely regretting missing out on the massive profits and potential economic benefits of early crypto adoption. Governments are now proceeding cautiously to avoid being left behind, learning from the successes and failures of others while being hesitant to fully embrace the risks associated with crypto.

We're at a pivotal moment where we could witness global governments accepting BTC at various levels: as a legal asset, as part of their reserves, and as a means of payment.

[yohananaomi]

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.

Something that is natural because bitcoin is indeed not able to be controlled, so there are doubts from several countries because they are afraid of being misused for money laundering or the like that are related to what is prohibited by the government.
But, actually the government can make regulations that can find out the movement of each bitcoin transaction where every exchange with fiat must use a local exchange, which is clear, the government will be able to detect and can take fees from the results of the exchange.

[legend45]

Something that is natural because bitcoin is indeed not able to be controlled, so there are doubts from several countries because they are afraid of being misused for money laundering or the like that are related to what is prohibited by the government.
But, actually the government can make regulations that can find out the movement of each bitcoin transaction where every exchange with fiat must use a local exchange, which is clear, the government will be able to detect and can take fees from the results of the exchange.

from the creator of bitcoin, bitcoin is indeed designed so that no one can control it, that is the decentralization system. Because with that system, bitcoin owners have the freedom to manage their finances and easily make transactions without being controlled by other parties.
Maybe this is what makes the government afraid that bitcoin will be misused and it seems that there is no solution to overcome this problem, maybe your suggestion is right for exchange to fiat can use a local exchange and the government can detect it, but the government can only do it on a local exchange.

[KryptoBull]

from the creator of bitcoin, bitcoin is indeed designed so that no one can control it, that is the decentralization system. Because with that system, bitcoin owners have the freedom to manage their finances and easily make transactions without being controlled by other parties.
Maybe this is what makes the government afraid that bitcoin will be misused and it seems that there is no solution to overcome this problem, maybe your suggestion is right for exchange to fiat can use a local exchange and the government can detect it, but the government can only do it on a local exchange.

Governments once opposed crypto, but they've now realized they can't stop this global wave of technology and finance. They'll have to find a way for crypto to coexist with traditional finance while also being able to comprehensively regulate this market.

Accusations of crypto being abused by criminals are just a way for governments to delay enacting a legal framework for crypto. Many governments have created and managed their own CEXs, but I don't believe in their success. Investors always tend to escape the controlling hands of governments.

[nakmantu99]

Governments once opposed crypto, but they've now realized they can't stop this global wave of technology and finance. They'll have to find a way for crypto to coexist with traditional finance while also being able to comprehensively regulate this market.

Accusations of crypto being abused by criminals are just a way for governments to delay enacting a legal framework for crypto. Many governments have created and managed their own CEXs, but I don't believe in their success. Investors always tend to escape the controlling hands of governments.

The government will never stop the wave of technology and progress provided by crypto, I agree with you. And this technological progress will be increasingly adopted by large companies in their countries. so crypto will become more popular and more dominant day by day.

[Aanuoluwatofunmi]

I don't think there is a cognate response on this because we are talking about cryptocurrency in general and this may have to comprise of all the digital assets in crypto, but when we are about to make it more clear that bitcoin is what we are considering, then it is more obvious that they cant afford to do anything in bringing it down since its a decentralized digital currency in cryptocurrency.

[PX-Z]

... but when we are about to make it more clear that bitcoin is what we are considering, then it is more obvious that they cant afford to do anything in bringing it down since its a decentralized digital currency in cryptocurrency.

Government can't take bitcoin or crypto down but they can widely influence and affect its price once it got either regulated or restricted in any country. If most countries decided to ban it, price will collapse but it doesn't mean it will end up there, people will still use it thus price recovery is plausible but it will never be the same especially if the big countries banned it.

[satpol_PP]

... but when we are about to make it more clear that bitcoin is what we are considering, then it is more obvious that they cant afford to do anything in bringing it down since its a decentralized digital currency in cryptocurrency.

Government can't take bitcoin or crypto down but they can widely influence and affect its price once it got either regulated or restricted in any country. If most countries decided to ban it, price will collapse but it doesn't mean it will end up there, people will still use it thus price recovery is plausible but it will never be the same especially if the big countries banned it.

bans from big countries will affect bitcoin and crypto prices, but the market will recover after some time because investor enthusiasm for crypto is still high. We also see china banning crypto, but it doesn't affect bitcoin prices because I'm sure not all big countries ban crypto, because every government must have its own considerations.

[target]

... but when we are about to make it more clear that bitcoin is what we are considering, then it is more obvious that they cant afford to do anything in bringing it down since its a decentralized digital currency in cryptocurrency.

Government can't take bitcoin or crypto down but they can widely influence and affect its price once it got either regulated or restricted in any country. If most countries decided to ban it, price will collapse but it doesn't mean it will end up there, people will still use it thus price recovery is plausible but it will never be the same especially if the big countries banned it.

bans from big countries will affect bitcoin and crypto prices, but the market will recover after some time because investor enthusiasm for crypto is still high. We also see china banning crypto, but it doesn't affect bitcoin prices because I'm sure not all big countries ban crypto, because every government must have its own considerations.

China will not be doing it this time. And I think all countries that doesn't an crypto as of now will not ban BTC again. After learning crypto is already regulated in US and even in China thru Hong Kong, most countries might start at ying to buy BTC and one unexpected country we learn recently was Bhutan.

If there ever is a crack down is probably the BTC that is acquired in a suspicious manner such as hacked or companies that turned scammers.

[dekafee79]

China will not be doing it this time. And I think all countries that doesn't an crypto as of now will not ban BTC again. After learning crypto is already regulated in US and even in China thru Hong Kong, most countries might start at ying to buy BTC and one unexpected country we learn recently was Bhutan.

If there ever is a crack down is probably the BTC that is acquired in a suspicious manner such as hacked or companies that turned scammers.

I also see it that way, many big countries have started accepting bitcoin and what we read from the news is that the government is taking tough action against those who do illegal activities, I think it's natural for the government to take legal action. China has probably done research and created a crypto project, because China is one of the countries with the largest economy, it seems impossible for China not to know the benefits of crypto currency for progress. because crypto technology is very much needed.

[Baki202]

This is forutnately only limited to price of bitcoin. They can ban exchanges, ban trading, ban even holding, but they can't ban itself from doing anything, you can still use it illegally and they do not have any control. Remember, this isn't some company, this isn't some product, this is decentralized bitcoin meaning NOBODY has the power to stop it, not even the biggest countries in the world could get together and stop this. Meaning, they can only ban it, and make the price go down. But they are not even remotely interested in that, they are doing ETF and even working on CBDC right now, so like I said, they are happy.

Bitcoin is a decentralized currency that is being used worldwide for different purposes. irrespective of the fact that bitcoin operates without a central authority, the government can crack down on crypto by either banning the usage of bitcoin in their country or appreciating the use of bitcoin in their country thereby encouraging their citizens to use bitcoin more,

Anything that is decentralized can not be controlled just like energy you can either create or destroy so in the case of Bitcoin it has been made and it can not be destroyed, and the government is control freaks they want everything to be under their control, and the initiation of centralization is what a lot of bitcoiners are frowning at even if they want to crack down on bitcoin it will take more than polices and arrest to bring bitcoin down, and since their countries that have accepted might attract more people to their own country. so what ever intention the government might have it will all be waste.

[36B]

China will not be doing it this time. And I think all countries that doesn't an crypto as of now will not ban BTC again. After learning crypto is already regulated in US and even in China thru Hong Kong, most countries might start at ying to buy BTC and one unexpected country we learn recently was Bhutan.

If there ever is a crack down is probably the BTC that is acquired in a suspicious manner such as hacked or companies that turned scammers.

I also see it that way, many big countries have started accepting bitcoin and what we read from the news is that the government is taking tough action against those who do illegal activities, I think it's natural for the government to take legal action. China has probably done research and created a crypto project, because China is one of the countries with the largest economy, it seems impossible for China not to know the benefits of crypto currency for progress. because crypto technology is very much needed.

In my opinion, The use of digital currency such as Bitcoin by many of the global giant nations is good for the future of digital financial technology. Internal and external actions taken by governments against unlawful conduct occurring in the crypto sphere are, in fact, beneficial to the crypto space and the users to prevent being within the range of financial crimes, therefore necessary to support. China has put a lot of effort into studying blockchain and digital assets, although its economy is one of the biggest in the world. However, the Chinese even are not sparing time and have commenced their central bank digital currency project, the Digital Yuan, which shows that China is serious in using the potential of the crypto to enhance its financial system that in turn helps in international transactions and provide stability to its economy. While implementing crypto technology in a specific sphere seems to be a powerful threat for many conventional businesses, the technology as a whole opens considerable opportunities for increasing transactions’ transparency and, thus, diminishing the costs necessary for operations in the digital world.