Can governments crack down on crypto?

[KryptoBull]

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

CBDC experiments have failed in many countries, it has been removed from the US financial strategy for years to come but is still being considered and implemented in some countries like China and Russia. I think CBDC is a tool to increase government control, it suits authoritarian regimes

CBDC was once one of the ways for governments to compete and then eliminate crypto, but it probably cannot meet their expectations. People have understood more about technology and finance, they have no reason to endure such imposition and surveillance.

[yohananaomi]

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

The main problem is that many do not want to be control by any institution for every transaction made and this will certainly be an obstacle if there is an effort that will indeed be made to be controlled and certainly will not make many interested in a method like that.
I think what you say is true that the trial test has not yet been produced which can lead to positives and there will definitely be rejection.

[omori]

The main problem is that many do not want to be control by any institution for every transaction made and this will certainly be an obstacle if there is an effort that will indeed be made to be controlled and certainly will not make many interested in a method like that.
I think what you say is true that the trial test has not yet been produced which can lead to positives and there will definitely be rejection.

Yep. It will be a path of trial and error.
And rejection too.. much of it 

[KryptoBull]

Yep. It will be a path of trial and error.
And rejection too.. much of it 

As of now, we haven't seen a successful implementation of CBDC, even though China's CBDC trials were announced as highly successful, they still haven't been able to roll it out nationwide. I think there's something they're not disclosing, and I don't trust the announcements from China.

CBDC seems like a failed proposal for governments to kill crypto. Currently, many governments are looking to adopt and leverage crypto for their countries, the wind has changed direction and we can be optimistic about the future of this market

[yohananaomi]

Yep. It will be a path of trial and error.
And rejection too.. much of it 

As of now, we haven't seen a successful implementation of CBDC, even though China's CBDC trials were announced as highly successful, they still haven't been able to roll it out nationwide. I think there's something they're not disclosing, and I don't trust the announcements from China.

CBDC seems like a failed proposal for governments to kill crypto. Currently, many governments are looking to adopt and leverage crypto for their countries, the wind has changed direction and we can be optimistic about the future of this market

They have always been closed to things like this and only provide one-sided information and that cannot be proven. Therefore, many still do not believe what they say, so it is not surprising, they do not want to launch it nationally. Of course, this action can prove that they are only making one-sided success.
It is natural that you and maybe me and many others do not believe the announcement from China.
Let's just wait for the developments in the future because everyone will also be waiting for that.

[dave_strider]

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

I don't think they would even need it to be better than X.
They just need alternatives to have much more control going for themselves, that's it.

[omori]

They have always been closed to things like this and only provide one-sided information and that cannot be proven. Therefore, many still do not believe what they say, so it is not surprising, they do not want to launch it nationally. Of course, this action can prove that they are only making one-sided success.
It is natural that you and maybe me and many others do not believe the announcement from China.
Let's just wait for the developments in the future because everyone will also be waiting for that.

Yep. The legendary coexistence of the biggest digital CDBC yet (probably) and the country with the biggest reserves of BTC, which the US would be probably (as well yet, because it's all in the wind still).

[KryptoBull]

They have always been closed to things like this and only provide one-sided information and that cannot be proven. Therefore, many still do not believe what they say, so it is not surprising, they do not want to launch it nationally. Of course, this action can prove that they are only making one-sided success.
It is natural that you and maybe me and many others do not believe the announcement from China.
Let's just wait for the developments in the future because everyone will also be waiting for that.

The US has an accepting and supportive stance towards crypto, while China maintains its bans. We often see this opposition when talking about the US and China, and it seems normal, but I believe crypto is unstoppable and China is simply planning to adopt crypto in the most efficient way, similar to how they developed DeepSeek.

We will be able to evaluate the impact of governments on crypto: see how the US can promote crypto and how China can suppress it. Some extreme actions from other countries like Brazil or Nigeria cannot have such a big impact!

[PX-Z]

...but I believe crypto is unstoppable and China is simply planning to adopt crypto in the most efficient way, similar to how they developed DeepSeek.

That's not how China government works. They always ban things that was available worldwide then they will make something for their own only, remember every most famous website have similar available for their people too. That's why there is CBDC in China with their digital yuan with the counter part of cryptocurrencies available international. And it will not improve from there so...

[target]

They have always been closed to things like this and only provide one-sided information and that cannot be proven. Therefore, many still do not believe what they say, so it is not surprising, they do not want to launch it nationally. Of course, this action can prove that they are only making one-sided success.
It is natural that you and maybe me and many others do not believe the announcement from China.
Let's just wait for the developments in the future because everyone will also be waiting for that.

The US has an accepting and supportive stance towards crypto, while China maintains its bans. We often see this opposition when talking about the US and China, and it seems normal, but I believe crypto is unstoppable and China is simply planning to adopt crypto in the most efficient way, similar to how they developed DeepSeek.

We will be able to evaluate the impact of governments on crypto: see how the US can promote crypto and how China can suppress it. Some extreme actions from other countries like Brazil or Nigeria cannot have such a big impact!

China always has different stance on crypto this is why the people in the mainland is not allowed to trade crypto. They US government have been cracking down for awhile already, we can see it through the SEC since Gensler's time. But its going to be the same in the future when Trump is not around anymore.

Nigeria I thin is also big, the adoption in Nigeria will also be an adoption to the entire Africa. This country is the center of Africa.

[KryptoBull]

That's not how China government works. They always ban things that was available worldwide then they will make something for their own only, remember every most famous website have similar available for their people too. That's why there is CBDC in China with their digital yuan with the counter part of cryptocurrencies available international. And it will not improve from there so...

I don't think China's CBDC can compare to the crypto of the rest of the world. China might create similar tools/websites for their people to use under strict censorship but they won't be able to create a Chinese BTC!

I think China will accept crypto in the future because they are currently allowing Hong Kong to actively test crypto. China is also researching the application of blockchain, and they won't be able to harness the power of blockchain without touching crypto

[Cryptsafe]

That's not how China government works. They always ban things that was available worldwide then they will make something for their own only, remember every most famous website have similar available for their people too. That's why there is CBDC in China with their digital yuan with the counter part of cryptocurrencies available international. And it will not improve from there so...

I don't think China's CBDC can compare to the crypto of the rest of the world. China might create similar tools/websites for their people to use under strict censorship but they won't be able to create a Chinese BTC!

I think China will accept crypto in the future because they are currently allowing Hong Kong to actively test crypto. China is also researching the application of blockchain, and they won't be able to harness the power of blockchain without touching crypto

The Chinese government always has a way of saying no to a generally acceptable innovation and at the same time also developing that same innovation or something similar to it for their use. This is a way of saying you do not agree with a technology but you still find it very useful and impactful and still develop a prototype of it so you could also use it for the same purpose it was invented. The Chinese government is not new to this attitude as they always want to exploit every means for themselves.

I have no doubt China will accept Bitcoin shortly as they are exploiting every means to see how the technology would be of benefit to them through research and lots more. So if they are researching blockchain, then it is clear that they would come up with the terms of crypto acceptance after the result findings.

[enwi]

That's not how China government works. They always ban things that was available worldwide then they will make something for their own only, remember every most famous website have similar available for their people too. That's why there is CBDC in China with their digital yuan with the counter part of cryptocurrencies available international. And it will not improve from there so...

I don't think China's CBDC can compare to the crypto of the rest of the world. China might create similar tools/websites for their people to use under strict censorship but they won't be able to create a Chinese BTC!

I think China will accept crypto in the future because they are currently allowing Hong Kong to actively test crypto. China is also researching the application of blockchain, and they won't be able to harness the power of blockchain without touching crypto

The Chinese government always has a way of saying no to a generally acceptable innovation and at the same time also developing that same innovation or something similar to it for their use. This is a way of saying you do not agree with a technology but you still find it very useful and impactful and still develop a prototype of it so you could also use it for the same purpose it was invented. The Chinese government is not new to this attitude as they always want to exploit every means for themselves.

I have no doubt China will accept Bitcoin shortly as they are exploiting every means to see how the technology would be of benefit to them through research and lots more. So if they are researching blockchain, then it is clear that they would come up with the terms of crypto acceptance after the result findings.

It is also important to remember that there are many ways in which a country can react to technological advancement, and despite appearances, some actions can have goals that are still greater than the contradiction of what is being done. When an innovation has such a potential it has inevitably leads to the further step research and development, especially it becomes inevitable for the countries which want to keep some things in their hands. Given that, it is not surprising that various parties try to delve into things that are developing, especially if they have implications on a number of sectors. As a result, the decisions that may be made can be different depending on the results of the research. I considered it fascinating how a country tries to guarantee a beneficial application of already existing technology, while at the same time, maintaining control of such application including its access and utility.

[PX-Z]

I don't think China's CBDC can compare to the crypto of the rest of the world. China might create similar tools/websites for their people to use under strict censorship but they won't be able to create a Chinese BTC!

I think China will accept crypto in the future because they are currently allowing Hong Kong to actively test crypto. China is also researching the application of blockchain, and they won't be able to harness the power of blockchain without touching crypto

Of course it's incomparable. China won't make something that it cannot control which is most crypto was made of accepting it again is against on their nature. As for the technology, they are interested already in the blockchain and been making blockchain tech for their country's  use since way back 2019 when their president do so, because how it useful when it comes to transparency for the work of their people to their government.

[KryptoBull]

The Chinese government always has a way of saying no to a generally acceptable innovation and at the same time also developing that same innovation or something similar to it for their use. This is a way of saying you do not agree with a technology but you still find it very useful and impactful and still develop a prototype of it so you could also use it for the same purpose it was invented. The Chinese government is not new to this attitude as they always want to exploit every means for themselves.

I have no doubt China will accept Bitcoin shortly as they are exploiting every means to see how the technology would be of benefit to them through research and lots more. So if they are researching blockchain, then it is clear that they would come up with the terms of crypto acceptance after the result findings.

I see the anxiety and fear of the Chinese government in their decisions. They are afraid that their absolute power over fiat will be threatened by the success of crypto, they feel uneasy when they cannot make crypto obediently listen

I will wait for China's reactions after the US accepts crypto for its strategic reserve fund, and may even accumulate more BTC for the nation. I want to know if China will continue to stand aside or will rush to follow so as not to be left behind in the crypto wave.