Can governments crack down on crypto?

[Gurujebs]

We as crypto investors should be patient and wait for what trump will do after making bitcoin a reserve fund. Trump has just taken office, I agree with you this will take time so we should be patient and wait for what policies trump will do for bitcoin and crypto.

The problem many people are having with him is not because he hasn't do what is expected of the public, it's because of what he did in the end. Eveeyone was sleeping when he launched his family launched a meme coin and it's has been one of the unsuccessful meme coins in the history of coin launched, who wouldn't be bother if he is serious about the future of crypto.

What I can say is that politicians will always want to be politicians, he has made that promised which everyone is expecting, if he doesn't do it one way or the other another politician will do it later in the future. So buy what you think you can buy now and hold for future sake.

[yohananaomi]

The government can do many things if it wants, especially in a market where it can bring Bitcoin to a bull market, but it can also bring Bitcoin to a bear market with some negative announcements. However, if the government wishes, it can crack down on someone's Bitcoin and subject them to punitive measures by confiscating all Bitcoins. For example, Donald Trump has brought about a significant change to Bitcoin and has pardoned and released the very amicable Ross Ulbricht.

Trump's actions have confirmed the enormous power of the government: eliminating the unfair SAB 121, establishing a strategic crypto reserve fund, and issuing memecoins. Each of these actions has a major impact on the psychology and behavior of investors in the market, and fortunately, they are all positive impacts.

Some governments are still banning crypto, such as the Chinese government. This is hindering the development of the crypto market here, even though blockchain is being researched for practical applications.

DT has always been very positive about accepting bitcoin, so it is no wonder that he will do many things so that bitcoin can be used for anything with all the policies he implements. This clearly provides a positive side and the market also responds well. Hopefully it will continue to increase by achieving, good value.
But indeed, not all governments will be willing to accept bitcoin as a legal tender in their country and there may be restrictions and that is only natural.

[bayu7adi]

Trump's actions have confirmed the enormous power of the government: eliminating the unfair SAB 121, establishing a strategic crypto reserve fund, and issuing memecoins. Each of these actions has a major impact on the psychology and behavior of investors in the market, and fortunately, they are all positive impacts.

Some governments are still banning crypto, such as the Chinese government. This is hindering the development of the crypto market here, even though blockchain is being researched for practical applications.

China did ban cryptocurrency, but the country is still very great and strong until now.. even I feel that China's decision not to accept cryptocurrency and the country's finances remain stable is one of the most critical decisions... it can be said that China seems to have something bigger than crypto, but if one day Xi Jinping makes a sudden breakthrough, by accepting cryptocurrency as legal money in China... the cryptocurrency community will skyrocket...

Cryptocurrency without China can still gain bullish momentum, if China also adopts cryptocurrency, it could be something even crazier in the future.

Governments do have a lot of control, even if they don't affect cryptocurrency, they do affect new adopters and investors... as long as big investors still adhere to government regulations, that's where the keys to the big things are still in the hands of big governments.

[milewilda]

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 doubt if government can completely crack down on crypto, because bitcoin/altcoins is decentralized, though government can block faits deposit with banks, but there are other options to buy bitcoin like through p2p or cash in person.
In my opinion, P2P is one of the biggest obstacle from the governments attempts to crack down on crypto in many countries. I think P2P posed the biggest challenge to government in it various attempts to shut down Bitcoin transactions
Dex exchanges has also help to ease the efforts on crypto trading where there are restrictions by government on certain regions through bank deposits.

They can rule out but they cant be able to completely be able to block all possible ways or methods on which they can be able to make use and there's no way that they can totally block it out. If it was that possible then they had done it a long time ago on which we know that government do really hate up that decentralization on which on things that they cant be able to control and thats why its normal that they will really be that having that negativity or they wont really be liking it. The thing here is that not all government does sees out the negative and they will really adopting it instead since they do know or realize on what are the possible benefits that they can get.

[KryptoBull]

China did ban cryptocurrency, but the country is still very great and strong until now.. even I feel that China's decision not to accept cryptocurrency and the country's finances remain stable is one of the most critical decisions... it can be said that China seems to have something bigger than crypto, but if one day Xi Jinping makes a sudden breakthrough, by accepting cryptocurrency as legal money in China... the cryptocurrency community will skyrocket...

Cryptocurrency without China can still gain bullish momentum, if China also adopts cryptocurrency, it could be something even crazier in the future.

Governments do have a lot of control, even if they don't affect cryptocurrency, they do affect new adopters and investors... as long as big investors still adhere to government regulations, that's where the keys to the big things are still in the hands of big governments.

The Chinese government is an exception as they haven't changed their stance on crypto despite BTC's success over the past few years. On the contrary, they are very active in researching and wanting to apply blockchain technology in the economy. Their government can do the craziest things because they hold all the power, and the people can only comply or choose to remain silent to protect themselves and their families.

Now everything is focused on the trade war, China's retaliation is making the economy more tense, and as a result, the crypto market is suffering because it's the only market operating 24/7. This could be a black swan event originating from the US government.

[rdluffy]

China did ban cryptocurrency, but the country is still very great and strong until now.. even I feel that China's decision not to accept cryptocurrency and the country's finances remain stable is one of the most critical decisions... it can be said that China seems to have something bigger than crypto, but if one day Xi Jinping makes a sudden breakthrough, by accepting cryptocurrency as legal money in China... the cryptocurrency community will skyrocket...
...

I, as a westerner, and not having direct contact with any Chinese person to explain it to me, find it very curious that China banned cryptos a long time ago, but when I mined altcoins there was always a big hashrate from China, there was always some Chinese pool, and I always saw comments from Chinese people about the low cost of energy etc.
Not to mention the ease of getting gpus or asics

And I always believed that the punishment could be big

I still don't understand how the ban on China and the Chinese involved in crypto really works.

[dekafee79]

China did ban cryptocurrency, but the country is still very great and strong until now.. even I feel that China's decision not to accept cryptocurrency and the country's finances remain stable is one of the most critical decisions... it can be said that China seems to have something bigger than crypto, but if one day Xi Jinping makes a sudden breakthrough, by accepting cryptocurrency as legal money in China... the cryptocurrency community will skyrocket...

Cryptocurrency without China can still gain bullish momentum, if China also adopts cryptocurrency, it could be something even crazier in the future.

Governments do have a lot of control, even if they don't affect cryptocurrency, they do affect new adopters and investors... as long as big investors still adhere to government regulations, that's where the keys to the big things are still in the hands of big governments.

The Chinese government is an exception as they haven't changed their stance on crypto despite BTC's success over the past few years. On the contrary, they are very active in researching and wanting to apply blockchain technology in the economy. Their government can do the craziest things because they hold all the power, and the people can only comply or choose to remain silent to protect themselves and their families.

Now everything is focused on the trade war, China's retaliation is making the economy more tense, and as a result, the crypto market is suffering because it's the only market operating 24/7. This could be a black swan event originating from the US government.

We still see the Chinese government remains consistent in its stance on crypto, they do not legalize crypto in their country. but let it be..
The governments of other major countries have accepted crypto and it is likely that bitcoin will survive even though it is not supported by the Chinese government. because Donald Trump will still be in office for the next 5 years, we will see a bright future for crypto in the next five years.

[bounceback]

Actually government not have enough power for cracking down cryptocurrency but their decision could make bitcoin and altcoin goin down for awhile, did you remember yesterday when economic war between US and China make bitcoin get down drastically after raising up to $100k and easily drop more than 10% due AS government announce additional taxes for China's import product.
Generally government never crack down cryptocurrency but they have bad decision bring impact for cryptocurrency going down but happening for awhile only before crypto recovery back to higher price.

[KryptoBull]

Actually government not have enough power for cracking down cryptocurrency but their decision could make bitcoin and altcoin goin down for awhile, did you remember yesterday when economic war between US and China make bitcoin get down drastically after raising up to $100k and easily drop more than 10% due AS government announce additional taxes for China's import product.
 
Generally government never crack down cryptocurrency but they have bad decision bring impact for cryptocurrency going down but happening for awhile only before crypto recovery back to higher price.

I also want to mention this to point out the potential impact of government policies on the crypto market. Crypto is part of the financial market, so it will also be affected by the trade war.

Just one announcement from Trump was enough to blow away a few % of the crypto marketcap because only the crypto market operates 24/7, investors' fear is converted into orders to sell crypto assets when they cannot sell stocks on weekends. I hope Trump is also aware of this and everything is within his calculations, meaning we will have positive results for the growth of the economy and the crypto market.

[Cryptsafe]

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 doubt if government can completely crack down on crypto, because bitcoin/altcoins is decentralized, though government can block faits deposit with banks, but there are other options to buy bitcoin like through p2p or cash in person.
In my opinion, P2P is one of the biggest obstacle from the governments attempts to crack down on crypto in many countries. I think P2P posed the biggest challenge to government in it various attempts to shut down Bitcoin transactions
Dex exchanges has also help to ease the efforts on crypto trading where there are restrictions by government on certain regions through bank deposits.

You are making a good point here and that has been my stand that the government can not completely crackdown on crypto, they can attack the exchange and other institutions that support crypto transactions but they can never stop p2p transaction, and as a matter of fact, p2p is amongst one of the primary reasons why bitcoin and crypto would last forever and there is nothing anybody can do to stop it as bitcoin is decentralized with no authority to stop or control it. They can only put policies to third parties to regulate their activities as it relates to their members and their crypto activities but that is just a secondary affairs compared to the p2p market.

[yohananaomi]

China did ban cryptocurrency, but the country is still very great and strong until now.. even I feel that China's decision not to accept cryptocurrency and the country's finances remain stable is one of the most critical decisions... it can be said that China seems to have something bigger than crypto, but if one day Xi Jinping makes a sudden breakthrough, by accepting cryptocurrency as legal money in China... the cryptocurrency community will skyrocket...

Cryptocurrency without China can still gain bullish momentum, if China also adopts cryptocurrency, it could be something even crazier in the future.

Governments do have a lot of control, even if they don't affect cryptocurrency, they do affect new adopters and investors... as long as big investors still adhere to government regulations, that's where the keys to the big things are still in the hands of big governments.

The Chinese government is an exception as they haven't changed their stance on crypto despite BTC's success over the past few years. On the contrary, they are very active in researching and wanting to apply blockchain technology in the economy. Their government can do the craziest things because they hold all the power, and the people can only comply or choose to remain silent to protect themselves and their families.

Now everything is focused on the trade war, China's retaliation is making the economy more tense, and as a result, the crypto market is suffering because it's the only market operating 24/7. This could be a black swan event originating from the US government.

We still see the Chinese government remains consistent in its stance on crypto, they do not legalize crypto in their country. but let it be..
The governments of other major countries have accepted crypto and it is likely that bitcoin will survive even though it is not supported by the Chinese government. because Donald Trump will still be in office for the next 5 years, we will see a bright future for crypto in the next five years.

China prohibits it because there is always a political charge to it, and it is the authority of the government and no one can prohibit their rights. But as you said, there is no need to worry because DT strongly supports bitcoin, so that of course, it will have a good impact on bitcoin itself and crypto in general., But just believe that it is difficult to reject bitcoin because this is the latest technological development and in time it is certain that more governments in the world will want to accept it.

[enwi]

China did ban cryptocurrency, but the country is still very great and strong until now.. even I feel that China's decision not to accept cryptocurrency and the country's finances remain stable is one of the most critical decisions... it can be said that China seems to have something bigger than crypto, but if one day Xi Jinping makes a sudden breakthrough, by accepting cryptocurrency as legal money in China... the cryptocurrency community will skyrocket...

Cryptocurrency without China can still gain bullish momentum, if China also adopts cryptocurrency, it could be something even crazier in the future.

Governments do have a lot of control, even if they don't affect cryptocurrency, they do affect new adopters and investors... as long as big investors still adhere to government regulations, that's where the keys to the big things are still in the hands of big governments.

The Chinese government is an exception as they haven't changed their stance on crypto despite BTC's success over the past few years. On the contrary, they are very active in researching and wanting to apply blockchain technology in the economy. Their government can do the craziest things because they hold all the power, and the people can only comply or choose to remain silent to protect themselves and their families.

Now everything is focused on the trade war, China's retaliation is making the economy more tense, and as a result, the crypto market is suffering because it's the only market operating 24/7. This could be a black swan event originating from the US government.

We still see the Chinese government remains consistent in its stance on crypto, they do not legalize crypto in their country. but let it be..
The governments of other major countries have accepted crypto and it is likely that bitcoin will survive even though it is not supported by the Chinese government. because Donald Trump will still be in office for the next 5 years, we will see a bright future for crypto in the next five years.

The crypto market has indeed expanded greatly and despite the fact that some countries are slow to adopt it into the mainstream that has not been a hindrance to the development and its uses cases across the globe. Today, many important countries have adopted crypto, it means that, blockchain technology and digital assets have a long future ahead. It is evident that Bitcoin as an investment has great potential, and by considering the current position of this currency in regards to challenges; it has not slouched to the ground, more institutions and individuals are embracing it. New policies in different countries also threatened to have a similar effect, therefore it will be also revealing to see how the industry will turn out in few years.

[dave_strider]

China did ban cryptocurrency, but the country is still very great and strong until now.. even I feel that China's decision not to accept cryptocurrency and the country's finances remain stable is one of the most critical decisions... it can be said that China seems to have something bigger than crypto, but if one day Xi Jinping makes a sudden breakthrough, by accepting cryptocurrency as legal money in China... the cryptocurrency community will skyrocket...
...

I, as a westerner, and not having direct contact with any Chinese person to explain it to me, find it very curious that China banned cryptos a long time ago, but when I mined altcoins there was always a big hashrate from China, there was always some Chinese pool, and I always saw comments from Chinese people about the low cost of energy etc.
Not to mention the ease of getting gpus or asics

And I always believed that the punishment could be big

I still don't understand how the ban on China and the Chinese involved in crypto really works.

China will just get the CBDCs rolling.
And that would be it - use the said currency or perish on regulations. Nobody would want such problems.

[KryptoBull]

China will just get the CBDCs rolling.
And that would be it - use the said currency or perish on regulations. Nobody would want such problems.

CBDC is being tested in China but hasn't yielded the significant value people expected: the test scale is very small and doesn't offer superior convenience compared to cash in bank accounts. Even decentralization isn't guaranteed or proven, there are many things we lack sufficient information to understand the status of this test.

CBDC comes with management troubles because it doesn't allow many commercial banks to participate in the monetary flow. Implementing CBDC could cause a series of commercial banks to collapse and plunge the economy into crisis. Perhaps that's why the Chinese government hasn’t dared to implement it despite having absolute power in that country.

[rizqillah]

China will just get the CBDCs rolling.
And that would be it - use the said currency or perish on regulations. Nobody would want such problems.

CBDC is being tested in China but hasn't yielded the significant value people expected: the test scale is very small and doesn't offer superior convenience compared to cash in bank accounts. Even decentralization isn't guaranteed or proven, there are many things we lack sufficient information to understand the status of this test.

CBDC comes with management troubles because it doesn't allow many commercial banks to participate in the monetary flow. Implementing CBDC could cause a series of commercial banks to collapse and plunge the economy into crisis. Perhaps that's why the Chinese government hasn’t dared to implement it despite having absolute power in that country.

CBDC test in china has not produced anything positive so I have not heard any good news about it. the government is trying to create a rival project for crypto, but a centralized system will not become as big as a decentralized bitcoin. because investors prefer to invest in a coin that is not controlled by the government, this is in my opinion