Can governments crack down on crypto?

[Dr.Bitcoin_Strange]

Possibly they have attempted on several occasion and couldn't made it, because bitcoin is not what they can achieve centralization with in cryptocurrency, also, they have to know that the people have their own right in making their own choices for what they want, crypto is now what they can only watch to either support or leave as it is, because people have to live by the use of having an alternative currency.

If government wants to crack down crypto, they can only succeed in banning and ceasing all the centralized altcoins because they can go after the founders of those coins and tokens but it's not possible to crack down Bitcoin. The only that can be is if they cease investors coin which I never possible.

[KryptoBull]

There is always misuse that can occur by legalizing crypto, but the government can regulate according to the interests of each country, because they can determine, Because without regulation, at any time, you can still at least control it even though it is limited. But it is true, as you said, that the government can profit from transactions that occur by collecting taxes per transaction and that will be able to provide economic income for the country.

Crypto adoption will bring many benefits to all involved parties:

- The country will have additional income from crypto taxes.
- The government will gain the support of crypto investors.
- Citizens will have access to a new asset class.
- Crypto investors will be protected from fraudsters.
- The country will become more famous and attract tourists and investment flows.

These points have been mentioned before, but many governments have intentionally ignored them. Now, the game theory is being activated as the US wants to have a BTC reserve, forcing governments to focus more seriously on this market.

[target]

There is always misuse that can occur by legalizing crypto, but the government can regulate according to the interests of each country, because they can determine, Because without regulation, at any time, you can still at least control it even though it is limited. But it is true, as you said, that the government can profit from transactions that occur by collecting taxes per transaction and that will be able to provide economic income for the country.

Crypto adoption will bring many benefits to all involved parties:

- The country will have additional income from crypto taxes.
- The government will gain the support of crypto investors.
- Citizens will have access to a new asset class.
- Crypto investors will be protected from fraudsters.
- The country will become more famous and attract tourists and investment flows.

These points have been mentioned before, but many governments have intentionally ignored them. Now, the game theory is being activated as the US wants to have a BTC reserve, forcing governments to focus more seriously on this market.

Right now there is no regulations yet. Although they are not making BTC illegal, they are also not providing clear regulation to crypto.

There is even a new crypto law to be approved and I think they'd be signing It after Gensler will be out from SEC. The politics in crypto is still an on going battle right now, the Congress and senate will still have to debate on it and we're going to witness more crackdown if Trump will be out after his term.

[JISAN]

There is always misuse that can occur by legalizing crypto, but the government can regulate according to the interests of each country, because they can determine, Because without regulation, at any time, you can still at least control it even though it is limited. But it is true, as you said, that the government can profit from transactions that occur by collecting taxes per transaction and that will be able to provide economic income for the country.

Crypto adoption will bring many benefits to all involved parties:

- The country will have additional income from crypto taxes.
- The government will gain the support of crypto investors.
- Citizens will have access to a new asset class.
- Crypto investors will be protected from fraudsters.
- The country will become more famous and attract tourists and investment flows.

These points have been mentioned before, but many governments have intentionally ignored them. Now, the game theory is being activated as the US wants to have a BTC reserve, forcing governments to focus more seriously on this market.

Right now there is no regulations yet. Although they are not making BTC illegal, they are also not providing clear regulation to crypto.

There is even a new crypto law to be approved and I think they'd be signing It after Gensler will be out from SEC. The politics in crypto is still an on going battle right now, the Congress and senate will still have to debate on it and we're going to witness more crackdown if Trump will be out after his term.

No government has the power to crack down on crypto.  They can only advise their country's citizens to stay away from crypto and make it illegal in their country but if the people of that country want to use crypto then they will have the ability to access crypto even though it is illegal because it is total freedom. they may be deprived of CEX services for some reason, but they can access DEX. so government can't crack down crypto in any way

[Crypto Library]

No government has the power to crack down on crypto.  They can only advise their country's citizens to stay away from crypto and make it illegal in their country but if the people of that country want to use crypto then they will have the ability to access crypto even though it is illegal because it is total freedom. they may be deprived of CEX services for some reason, but they can access DEX. so government can't crack down crypto in any way

Bro just give here the bro example of our own region.
As people know that here in the Bangladesh crypto currency is illegal but even then more than 4 million people were connected with the cryptocurrency and if we just look at the p2p trade there is huge volume of transactions everyday. No one can able to stop them from use cryptocurrency.
There is only one thing happening here and that is that our country is deprived of earning a huge amount of foreign exchange and a huge amount of taxes.

[defy]

No government has the power to crack down on crypto.  They can only advise their country's citizens to stay away from crypto and make it illegal in their country but if the people of that country want to use crypto then they will have the ability to access crypto even though it is illegal because it is total freedom. they may be deprived of CEX services for some reason, but they can access DEX. so government can't crack down crypto in any way

Bro just give here the bro example of our own region.
As people know that here in the Bangladesh crypto currency is illegal but even then more than 4 million people were connected with the cryptocurrency and if we just look at the p2p trade there is huge volume of transactions everyday. No one can able to stop them from use cryptocurrency.
There is only one thing happening here and that is that our country is deprived of earning a huge amount of foreign exchange and a huge amount of taxes.

I would agree that it would be in the interests of any government to recognise the demand for crypto and install a proper framework to define tax laws and what is an asset, commodity, capital and security. Legalise the exchanges and try and expand the crypto industry in their country and recognise it as an expanding financial sector globally, otherwise they will be left behind.

They can crack down on crypto but they will never be able to eradicate it 100% even though they might think they can.

[Crypto Library]

I would agree that it would be in the interests of any government to recognise the demand for crypto and install a proper framework to define tax laws and what is an asset, commodity, capital and security. Legalise the exchanges and try and expand the crypto industry in their country and recognise it as an expanding financial sector globally, otherwise they will be left behind.

They can crack down on crypto but they will never be able to eradicate it 100% even though they might think they can.

Despite that in our country the university's have the course of blockchain and also there are multiple team who won the gold in blockchain development competition. But the authorities of our region that they don't know about anything that in case of working with blockchain we need the access of crypto in sometimes.
And as well lots of people doing the crypto trading in WhatsApp to Telegram and also binance p2p. So I think in case of this our country is lacking behind the new technology like blockchain.

[Findingnemo]

Yes, they can impose as many restrictions as possible, which will reduce the utility of the crypto a lot, negatively impacting the prices, followed by a domino effect.

I want to talk about the fiat losing it's value which is not happening due to the existence of crypto, it is happening as a result of printing money from their country's central bank so if government want to stop the fiat from losing it's value any further then the first logical step to address the situation is by stopping the printing of money and let the circulation happen on it's own.

[Gurujebs]

No government has the power to crack down on crypto.  They can only advise their country's citizens to stay away from crypto and make it illegal in their country but if the people of that country want to use crypto then they will have the ability to access crypto even though it is illegal because it is total freedom. they may be deprived of CEX services for some reason, but they can access DEX. so government can't crack down crypto in any way

Is there a freedom if something is illegal? Everything you do will be done hidden and you will have to be careful because if you are caught, you will definitely be going to jail. Imagine that you use a software wallet on your phone to send out some Bitcoin and then you forgot to uninstall it and somehow some law enforcement found it with you, that's going to be a big problem.

What I want the government to have is education about what is been done here, they need to know what's the purpose or crypto and how it's going to be useful to the people, such can make them reconsider banning crypto.

[dekafee79]

No government has the power to crack down on crypto.  They can only advise their country's citizens to stay away from crypto and make it illegal in their country but if the people of that country want to use crypto then they will have the ability to access crypto even though it is illegal because it is total freedom. they may be deprived of CEX services for some reason, but they can access DEX. so government can't crack down crypto in any way

Is there a freedom if something is illegal? Everything you do will be done hidden and you will have to be careful because if you are caught, you will definitely be going to jail. Imagine that you use a software wallet on your phone to send out some Bitcoin and then you forgot to uninstall it and somehow some law enforcement found it with you, that's going to be a big problem.

What I want the government to have is education about what is been done here, they need to know what's the purpose or crypto and how it's going to be useful to the people, such can make them reconsider banning crypto.

Currently in many countries, the government has allowed bitcoin as an investment and I think its citizens are starting to feel safe and comfortable. In the past, when bitcoin was first launched, it was considered illegal in many countries, but now the government has been able to accept it, so I think in the future there will be many other countries that will legalize bitcoin.

[enwi]

Currently in many countries, the government has allowed bitcoin as an investment and I think its citizens are starting to feel safe and comfortable. In the past, when bitcoin was first launched, it was considered illegal in many countries, but now the government has been able to accept it, so I think in the future there will be many other countries that will legalize bitcoin.

New technologies are well known to take certain time before people embrace and fully accept them and the changes that people experience offer them the best lessons. In this vein, it is only fitting that leaders in industries, affected communities and governments work together to guarantee that regulations can function optimally without prejudicing the growth of the business. As a healthy ecosystem starts to develop, there is a better foundation on which we can do so with the threats and potential issues in mind, and of course, education being the key for all the parties involved. Taking incremental steps means building the needed trust and understanding of the complexities in addressing the constant emerging in the development of technology.

[KryptoBull]

Currently in many countries, the government has allowed bitcoin as an investment and I think its citizens are starting to feel safe and comfortable. In the past, when bitcoin was first launched, it was considered illegal in many countries, but now the government has been able to accept it, so I think in the future there will be many other countries that will legalize bitcoin.

Usually, BTC is considered an asset rather than a common investment for everyone. BTC and crypto are in a gray area: they are not banned but are also not officially regulated. Traders like this because they don't need to pay taxes on crypto income.

Currently, only El Salvador widely accepts BTC because they don't have their own fiat, they use USD so it's easy to accept BTC for the country with a specific and effective strategy. The same is quite difficult to apply in many other countries because BTC can have a negative impact on fiat. I can only hope that they will have an official legal framework to legalize the crypto market!

[yohananaomi]

Currently in many countries, the government has allowed bitcoin as an investment and I think its citizens are starting to feel safe and comfortable. In the past, when bitcoin was first launched, it was considered illegal in many countries, but now the government has been able to accept it, so I think in the future there will be many other countries that will legalize bitcoin.

Usually, BTC is considered an asset rather than a common investment for everyone. BTC and crypto are in a gray area: they are not banned but are also not officially regulated. Traders like this because they don't need to pay taxes on crypto income.

Currently, only El Salvador widely accepts BTC because they don't have their own fiat, they use USD so it's easy to accept BTC for the country with a specific and effective strategy. The same is quite difficult to apply in many other countries because BTC can have a negative impact on fiat. I can only hope that they will have an official legal framework to legalize the crypto market!

Just a difference in naming because they, have the same in my opinion about it. But indeed, the regulations on crypto, especially bitcoin, are very unclear because some prohibit, some don't, But still limit and some provide restrictions on their local rules.
Until now, there is no proper research on how many countries accept it widely and freely. Of course, as you said, it is elsavador, which we already know.
In fact, each country can regulate Bitcoin itself so that it does not impact fiat, which is actually very profitable with exchanges through local exchanges and can collect taxes and not interfere with fiat in general.

[KryptoBull]

Just a difference in naming because they, have the same in my opinion about it. But indeed, the regulations on crypto, especially bitcoin, are very unclear because some prohibit, some don't, But still limit and some provide restrictions on their local rules.
Until now, there is no proper research on how many countries accept it widely and freely. Of course, as you said, it is elsavador, which we already know.
In fact, each country can regulate Bitcoin itself so that it does not impact fiat, which is actually very profitable with exchanges through local exchanges and can collect taxes and not interfere with fiat in general.

The crypto community is truly very strong, and if any country accepts BTC as official payment like El Salvador, we will have clear news. Currently, we don't have a second country adopting the BTC policy. Argentina is said to have this possibility after they have a new president, Javier Milei, but we haven't had any official announcement yet.

Currently, we are seeing a change in governments' views on BTC in a positive direction. They have no reason to oppose crypto because it can harm their political careers, which has been proven in the US election. They are looking for ways to accept and manage crypto. I don't know the outcome yet, but this is positive enough to help the crypto market grow and enter an uptrend.

[target]

Just a difference in naming because they, have the same in my opinion about it. But indeed, the regulations on crypto, especially bitcoin, are very unclear because some prohibit, some don't, But still limit and some provide restrictions on their local rules.
Until now, there is no proper research on how many countries accept it widely and freely. Of course, as you said, it is elsavador, which we already know.
In fact, each country can regulate Bitcoin itself so that it does not impact fiat, which is actually very profitable with exchanges through local exchanges and can collect taxes and not interfere with fiat in general.

The crypto community is truly very strong, and if any country accepts BTC as official payment like El Salvador, we will have clear news. Currently, we don't have a second country adopting the BTC policy. Argentina is said to have this possibility after they have a new president, Javier Milei, but we haven't had any official announcement yet.

Currently, we are seeing a change in governments' views on BTC in a positive direction. They have no reason to oppose crypto because it can harm their political careers, which has been proven in the US election. They are looking for ways to accept and manage crypto. I don't know the outcome yet, but this is positive enough to help the crypto market grow and enter an uptrend.

The surprising part is that US is embrasing Bitcoin while their IMF is prohibiting other countries to adopt Bitcoin like what they are saying to El Salvador. If there are other countries out there that is adopting BTC, they better be prepared to make a difference with how they approach it.

They could cicumvent the laws by allowing citizens to just invest in BTC thru their retirement program as well.