Can governments crack down on crypto?

[KryptoBull]

Say it to digital yuan, you can't be wrong when there are restrictions for everything else going at full speed  But I agree.

China is continuing to test their e-CNY but the global community seems to have lost interest. CBDC appears to have been killed off on a global scale as the US has stopped mentioning it. CBDC requires incredibly complex new management mechanisms that are simply impossible at present, it simply cannot exist while guaranteeing the interests of commercial banks.

CBDC is seen as a failed attempt by governments to suppress and replace crypto. Now governments are looking to accept and adopt crypto, which is a huge win for crypto and all of us.

[tequilla_sunset]

I believe they can, they just have to put some restrictions in place and all the channels we currently have are gone. Only thing is, I don't think they have the motivation to do this, at least not yet.

They would - but some of them are tied up to crypto already.
If they would see a threat in it for themselves, they would gladly harshen their regulations so that ordinary people would have problems with some things, especially on CEXes.

[KryptoBull]

They would - but some of them are tied up to crypto already.
If they would see a threat in it for themselves, they would gladly harshen their regulations so that ordinary people would have problems with some things, especially on CEXes.

Some governments have seen the potential and value of the crypto market for the economy and the national budget, so they have shifted from suppression to acceptance and taxation. Usually, when this happens, governments no longer have the need to suppress crypto, they understand that crypto does not threaten the status of fiat.

Self-regulating a CEX under government control is just a way for the government to collect transaction fees and easily have enough data on investor profits to tax more easily. KYC is also a way for them to control the risks of money laundering that can be carried out by criminals.

[yohananaomi]

They would - but some of them are tied up to crypto already.
If they would see a threat in it for themselves, they would gladly harshen their regulations so that ordinary people would have problems with some things, especially on CEXes.

Some governments have seen the potential and value of the crypto market for the economy and the national budget, so they have shifted from suppression to acceptance and taxation. Usually, when this happens, governments no longer have the need to suppress crypto, they understand that crypto does not threaten the status of fiat.

Self-regulating a CEX under government control is just a way for the government to collect transaction fees and easily have enough data on investor profits to tax more easily. KYC is also a way for them to control the risks of money laundering that can be carried out by criminals.

With the developments that have occurred and technology is also developing, most governments have begun to open themselves up to being able to accept crypto where there are more benefits that can be obtained than losses that will occur.
Because so far, crypto will not interfere with fiat activities because they have very different needs in society and can actually synergize with each other.
You are right that there are benefits that the government can take by freeing up transactions on local exchanges so that they can reap taxes that can be received from every transaction that occurs on the exchange.

[Hisbullah]

[
With the developments that have occurred and technology is also developing, most governments have begun to open themselves up to being able to accept crypto where there are more benefits that can be obtained than losses that will occur.
Because so far, crypto will not interfere with fiat activities because they have very different needs in society and can actually synergize with each other.
You are right that there are benefits that the government can take by freeing up transactions on local exchanges so that they can reap taxes that can be received from every transaction that occurs on the exchange.

It seems that crypto and FIAT can coexist because both perform their respective functions, and it seems that many governments in each country have begun to understand this.
I also agree with you that investing in crypto brings more profit than loss, because I have also made a lot of profit from crypto. As long as we focus and are patient, we will get the results.

[tequilla_sunset]

They would - but some of them are tied up to crypto already.
If they would see a threat in it for themselves, they would gladly harshen their regulations so that ordinary people would have problems with some things, especially on CEXes.

Some governments have seen the potential and value of the crypto market for the economy and the national budget, so they have shifted from suppression to acceptance and taxation. Usually, when this happens, governments no longer have the need to suppress crypto, they understand that crypto does not threaten the status of fiat.

Self-regulating a CEX under government control is just a way for the government to collect transaction fees and easily have enough data on investor profits to tax more easily. KYC is also a way for them to control the risks of money laundering that can be carried out by criminals.

As I said - they just have their hands on it already.
And if needed - they would go in more ways to make people's time on centralized platforms worse. As well as to demand more from ordinary users. 

[KryptoBull]

With the developments that have occurred and technology is also developing, most governments have begun to open themselves up to being able to accept crypto where there are more benefits that can be obtained than losses that will occur.
Because so far, crypto will not interfere with fiat activities because they have very different needs in society and can actually synergize with each other.
You are right that there are benefits that the government can take by freeing up transactions on local exchanges so that they can reap taxes that can be received from every transaction that occurs on the exchange.

Now we rarely mention crypto-currency but often just say crypto, meaning tokens are new assets, not a means of payment competing with fiat in the economy. This also makes governments more reassured about the role of fiat and their power.

CEXs are an attractive option for governments in terms of both management and revenue, but I don't like CEXs under the management of governments. I'm afraid that it will just be a tool for governments to manipulate the domestic crypto market. I will still choose global CEXs even if it takes more effort to declare taxes in the future.

[Report]

I would like to know your views on the acts of repression of the crypto market:

    Can crypto continue to thrive without the support of governments?
    Do you think governments can suppress and restrain the crypto market with their power?
    If you were the head of government, would you accept or reject the crypto opportunity for your country?

• It is very possible, especially if the cryptocurrency is included in a Centralized Exchange, for example Binance, which I once read information that a user from Russia had his account frozen due to the war with Ukraine
• SEC is an example of a government that suppresses and restrains with its power against the cryptocurrency community
• It would be a difficult choice for me if I were the head of government because on the one hand I have to see between the opportunities and threats of cryptocurrency itself to the wider community, almost all of whom are still unfamiliar with cryptocurrency

That is my answer to the Op who created this topic, I think the reply to this topic is purely from my experience in the cryptocurrency space so far.

[KryptoBull]

• It is very possible, especially if the cryptocurrency is included in a Centralized Exchange, for example Binance, which I once read information that a user from Russia had his account frozen due to the war with Ukraine
• SEC is an example of a government that suppresses and restrains with its power against the cryptocurrency community
• It would be a difficult choice for me if I were the head of government because on the one hand I have to see between the opportunities and threats of cryptocurrency itself to the wider community, almost all of whom are still unfamiliar with cryptocurrency

That is my answer to the Op who created this topic, I think the reply to this topic is purely from my experience in the cryptocurrency space so far.

Many Russians have been restricted from using Binance, and many other CEXs have even frozen Russian accounts after the war broke out in 2022. I don't like this very much, crypto is decentralized and investors should not be punished by the government's mistakes.

The SEC created a chaotic period in crypto history, fortunately they were stopped by the victory of President Trump. You can refer to his crypto strategy: the effective way to protect people from the risks of bad actors in the crypto market is not to ban crypto, but to educate crypto so that people understand its potential correctly.

[omori]

Now we rarely mention crypto-currency but often just say crypto, meaning tokens are new assets, not a means of payment competing with fiat in the economy. This also makes governments more reassured about the role of fiat and their power.

CEXs are an attractive option for governments in terms of both management and revenue, but I don't like CEXs under the management of governments. I'm afraid that it will just be a tool for governments to manipulate the domestic crypto market. I will still choose global CEXs even if it takes more effort to declare taxes in the future.

I wouldn't say CEXes are under their wing, more like they are obliged to comply if needed.
In other cases, they may do things their own way, and pay some of the fees back to the house (government).

[yohananaomi]

It seems that crypto and FIAT can coexist because both perform their respective functions, and it seems that many governments in each country have begun to understand this.
I also agree with you that investing in crypto brings more profit than loss, because I have also made a lot of profit from crypto. As long as we focus and are patient, we will get the results.

I agree, they should both be made to cover each other's shortcomings, so that they can synergize for the progress of the government that can accept crypto to be side by side with fiat.
So far, crypto has indeed provided useful results for those who invest in it, because investing in crypto is very profitable for investors and also profitable for the government because it can collect taxes on every transaction that occurs on the local exchange.

[legend45]

It seems that crypto and FIAT can coexist because both perform their respective functions, and it seems that many governments in each country have begun to understand this.
I also agree with you that investing in crypto brings more profit than loss, because I have also made a lot of profit from crypto. As long as we focus and are patient, we will get the results.

I agree, they should both be made to cover each other's shortcomings, so that they can synergize for the progress of the government that can accept crypto to be side by side with fiat.
So far, crypto has indeed provided useful results for those who invest in it, because investing in crypto is very profitable for investors and also profitable for the government because it can collect taxes on every transaction that occurs on the local exchange.

Yep Crypto is very beneficial for its investors and also provides income for the government, because the government can take taxes from crypto transactions on the local exchange. Both Crypto and Fiat both play an important role for us, because in the future Crypto will be very popular and the technology is needed

[omori]

It seems that crypto and FIAT can coexist because both perform their respective functions, and it seems that many governments in each country have begun to understand this.
I also agree with you that investing in crypto brings more profit than loss, because I have also made a lot of profit from crypto. As long as we focus and are patient, we will get the results.

I agree, they should both be made to cover each other's shortcomings, so that they can synergize for the progress of the government that can accept crypto to be side by side with fiat.
So far, crypto has indeed provided useful results for those who invest in it, because investing in crypto is very profitable for investors and also profitable for the government because it can collect taxes on every transaction that occurs on the local exchange.

Yep. They are yin and yang from their appropriate worlds.
Noone would be able to make one go extinct over the other overall.

[KryptoBull]

Yep Crypto is very beneficial for its investors and also provides income for the government, because the government can take taxes from crypto transactions on the local exchange. Both Crypto and Fiat both play an important role for us, because in the future Crypto will be very popular and the technology is needed

For now, we are still focusing on crypto and crypto taxes. The value of blockchain for education, supply chain, healthcare, etc. has not been fully explored yet. It's a new era that we will soon enter, helping to maximize the power of the internet, I believe so.

Blockchain needs crypto and the current acceptance of crypto is necessary for us to be able to apply blockchain in the future for businesses and governments. For now, I'm also just focusing on making profits from crypto instead of learning how to use the power of blockchain.

[Report]

• It is very possible, especially if the cryptocurrency is included in a Centralized Exchange, for example Binance, which I once read information that a user from Russia had his account frozen due to the war with Ukraine
• SEC is an example of a government that suppresses and restrains with its power against the cryptocurrency community
• It would be a difficult choice for me if I were the head of government because on the one hand I have to see between the opportunities and threats of cryptocurrency itself to the wider community, almost all of whom are still unfamiliar with cryptocurrency

That is my answer to the Op who created this topic, I think the reply to this topic is purely from my experience in the cryptocurrency space so far.

Many Russians have been restricted from using Binance, and many other CEXs have even frozen Russian accounts after the war broke out in 2022. I don't like this very much, crypto is decentralized and investors should not be punished by the government's mistakes.

Well, I think the same as you, that is when this cryptocurrency is decentralized but when it enters the market (CEX) all assets from a certain country are frozen. This is the same as if cryptocurrency is the same as centralized. This is beyond the basic concept of cryptocurrency.

The SEC created a chaotic period in crypto history, fortunately they were stopped by the victory of President Trump. You can refer to his crypto strategy: the effective way to protect people from the risks of bad actors in the crypto market is not to ban crypto, but to educate crypto so that people understand its potential correctly.

At that time it seemed like Bearish was deliberately created to Dump the market so that it would continue to fall and everyone would sell their cryptocurrency. The proof is now when Donald Trump started to rise to become President everything went smoothly, the market started to rise and Bitcoin has reached a new all time high.