Can governments crack down on crypto?

[KryptoBull]

The country doesn't have much resources to work on its own just like Sri Lanka. These are developing countries that will not have a good economy that will not make their people invest on something like BTC which I think their government would rather make BTC illegal because of the concern that people will be a victim of scam.

The government could be right with their decision especially because BTC is a speculative asset where price is very volatile.

+
I agree with your point of view, this is the point of view of many governments when they decide to ban crypto rather than face the difficulties in the management process. However, this also shows the limitations in their capacity and vision: El Salvador is also a small country and does not even have its own fiat, it has been very successful in implementing the BTC strategy!

BTC has existed for 15 years, we have a lot of information to access through the internet, the government can also start to seriously learn about crypto to have the most appropriate policies. Bans cannot isolate people from crypto, while governments lose tax revenue. Bangladesh should study and issue a legal framework for crypto to take advantage of the benefits from this financial wave.

[yohananaomi]

The country doesn't have much resources to work on its own just like Sri Lanka. These are developing countries that will not have a good economy that will not make their people invest on something like BTC which I think their government would rather make BTC illegal because of the concern that people will be a victim of scam.

The government could be right with their decision especially because BTC is a speculative asset where price is very volatile.

+
I agree with your point of view, this is the point of view of many governments when they decide to ban crypto rather than face the difficulties in the management process. However, this also shows the limitations in their capacity and vision: El Salvador is also a small country and does not even have its own fiat, it has been very successful in implementing the BTC strategy!

BTC has existed for 15 years, we have a lot of information to access through the internet, the government can also start to seriously learn about crypto to have the most appropriate policies. Bans cannot isolate people from crypto, while governments lose tax revenue. Bangladesh should study and issue a legal framework for crypto to take advantage of the benefits from this financial wave.

Actually, the ban that is carried out will not solve their problems, because anyone can do it with the ban, so that the main problem cannot be solved properly.
Whereas we also know that this is the era of renewable technology and no one is able to provide restrictions to be able to ban them effectively.
Agree, every ban will not be able to isolate and in fact, the opportunities that can be obtained from tax revenue are very good and there are benefits that can be done.
But I believe that in time they will understand that and start to accept and legalize it.

[KryptoBull]

Actually, the ban that is carried out will not solve their problems, because anyone can do it with the ban, so that the main problem cannot be solved properly.
Whereas we also know that this is the era of renewable technology and no one is able to provide restrictions to be able to ban them effectively.
Agree, every ban will not be able to isolate and in fact, the opportunities that can be obtained from tax revenue are very good and there are benefits that can be done.
But I believe that in time they will understand that and start to accept and legalize it.

China has banned BTC mining, but BTC mining is still prevalent in China, accounting for a significant portion of the global hashrate distribution map. The Chinese government may prevent themselves from accessing BTC, but their people can still access this market through many tools in this market.

The ban should be replaced by a clear legal framework so that investors can feel secure and the government can also collect taxes or accumulate more BTC as many large organizations are doing. I think this will be the main trend in the market in the next few years: government budgets will become the biggest whales in the market.

[yohananaomi]

Actually, the ban that is carried out will not solve their problems, because anyone can do it with the ban, so that the main problem cannot be solved properly.
Whereas we also know that this is the era of renewable technology and no one is able to provide restrictions to be able to ban them effectively.
Agree, every ban will not be able to isolate and in fact, the opportunities that can be obtained from tax revenue are very good and there are benefits that can be done.
But I believe that in time they will understand that and start to accept and legalize it.

China has banned BTC mining, but BTC mining is still prevalent in China, accounting for a significant portion of the global hashrate distribution map. The Chinese government may prevent themselves from accessing BTC, but their people can still access this market through many tools in this market.

The ban should be replaced by a clear legal framework so that investors can feel secure and the government can also collect taxes or accumulate more BTC as many large organizations are doing. I think this will be the main trend in the market in the next few years: government budgets will become the biggest whales in the market.

I think with the latest technology, like today, it is very difficult to ban even though there is a ban imposed by the government, Because access to it can still be done a lot, and it is difficult to close it. It will apply throughout the world, including China.
The ban should be fixed by still providing opportunities, but transactions are made on local exchanges, so that there is control and receiving tax revenues from it.
Hopefully the trend you said will happen, and we will wait for it and I have the same belief as you.

[KryptoBull]

I think with the latest technology, like today, it is very difficult to ban even though there is a ban imposed by the government, Because access to it can still be done a lot, and it is difficult to close it. It will apply throughout the world, including China.
The ban should be fixed by still providing opportunities, but transactions are made on local exchanges, so that there is control and receiving tax revenues from it.
Hopefully the trend you said will happen, and we will wait for it and I have the same belief as you.

We have seen many success stories from countries around the world that have embraced crypto, and backward governments can certainly learn from them. The problem lies solely in their vision and perspective. If government leaders are too old to understand blockchain technology and the value of crypto, they should hand over decision-making power to younger people who understand technology and finance.

We are still in the early stages of the crypto era, much like how we were cautious with the internet. We need community action to promote faster and wider acceptance of crypto. We have paid too much for traditional money transfer and payment services!

[yohananaomi]

I think with the latest technology, like today, it is very difficult to ban even though there is a ban imposed by the government, Because access to it can still be done a lot, and it is difficult to close it. It will apply throughout the world, including China.
The ban should be fixed by still providing opportunities, but transactions are made on local exchanges, so that there is control and receiving tax revenues from it.
Hopefully the trend you said will happen, and we will wait for it and I have the same belief as you.

We have seen many success stories from countries around the world that have embraced crypto, and backward governments can certainly learn from them. The problem lies solely in their vision and perspective. If government leaders are too old to understand blockchain technology and the value of crypto, they should hand over decision-making power to younger people who understand technology and finance.

We are still in the early stages of the crypto era, much like how we were cautious with the internet. We need community action to promote faster and wider acceptance of crypto. We have paid too much for traditional money transfer and payment services!

Indeed, all countries that have accepted crypto have been greatly helped so far, because crypto has opened up a lot of possibilities by giving people the opportunity to earn extra income from doing anything with crypto.
Of course, we also cannot forbid that there are still countries that are not willing to accept it well and, of course, there is something that not everyone can understand why they don't want to accept it.
It could be like you said that they are too old to be able to accept and understand the latest technology, so they really need to regenerate so that they can understand.
Of course, crypto will always develop well, and it is certain that its development is very fast and always up to date.

[milewilda]

I think with the latest technology, like today, it is very difficult to ban even though there is a ban imposed by the government, Because access to it can still be done a lot, and it is difficult to close it. It will apply throughout the world, including China.
The ban should be fixed by still providing opportunities, but transactions are made on local exchanges, so that there is control and receiving tax revenues from it.
Hopefully the trend you said will happen, and we will wait for it and I have the same belief as you.

We have seen many success stories from countries around the world that have embraced crypto, and backward governments can certainly learn from them. The problem lies solely in their vision and perspective. If government leaders are too old to understand blockchain technology and the value of crypto, they should hand over decision-making power to younger people who understand technology and finance.

We are still in the early stages of the crypto era, much like how we were cautious with the internet. We need community action to promote faster and wider acceptance of crypto. We have paid too much for traditional money transfer and payment services!

Whether we do like it or not on which we do know that adoption and recognition is inevitably been moving on which simply means or shows that we are really that heading upwards. It is really just that there are some certain factors on which it hinders out in overall adoption and recognition but still even if its slowed but we are really that still moving forward. For the talks about cracking on crypto then they cant be able to do it technically not unless for those fully centralized projects but for those projects like bitcoin then there's no way that they can crack it out. The might be able to hinder out via centralization or regulation but they are really just that good only on that way and no on other aspects.

[KryptoBull]

Indeed, all countries that have accepted crypto have been greatly helped so far, because crypto has opened up a lot of possibilities by giving people the opportunity to earn extra income from doing anything with crypto.

Of course, we also cannot forbid that there are still countries that are not willing to accept it well and, of course, there is something that not everyone can understand why they don't want to accept it.

It could be like you said that they are too old to be able to accept and understand the latest technology, so they really need to regenerate so that they can understand.

Of course, crypto will always develop well, and it is certain that its development is very fast and always up to date.

Many people still don't want to learn about or believe in new financial tools like crypto. For example, the Iranian government is following Nigeria and accusing crypto, not the economic crisis and inflation, of causing their local currency to depreciate severely. I don't know exactly what motivated them to act like this, maybe they are being cautious or simply afraid of new things that they cannot fully understand at the moment.

Anyway, neither Iran nor Nigeria can ban crypto, they can only ban themselves from accessing and owning crypto. At least these events confirm that we are still early investors in this market, and the opportunity is still there for us!

[yohananaomi]

Indeed, all countries that have accepted crypto have been greatly helped so far, because crypto has opened up a lot of possibilities by giving people the opportunity to earn extra income from doing anything with crypto.

Of course, we also cannot forbid that there are still countries that are not willing to accept it well and, of course, there is something that not everyone can understand why they don't want to accept it.

It could be like you said that they are too old to be able to accept and understand the latest technology, so they really need to regenerate so that they can understand.

Of course, crypto will always develop well, and it is certain that its development is very fast and always up to date.

Many people still don't want to learn about or believe in new financial tools like crypto. For example, the Iranian government is following Nigeria and accusing crypto, not the economic crisis and inflation, of causing their local currency to depreciate severely. I don't know exactly what motivated them to act like this, maybe they are being cautious or simply afraid of new things that they cannot fully understand at the moment.

Anyway, neither Iran nor Nigeria can ban crypto, they can only ban themselves from accessing and owning crypto. At least these events confirm that we are still early investors in this market, and the opportunity is still there for us!

I think what you said about countries that have not been able to accept it because of a lack of understanding seems unlikely, and it is certain that there will be citizens who have understood how important crypto is to unstoppable progress. This is just a policy that they have not been able to implement properly and, in any case, banning crypto is a very difficult thing to do because there is always a loophole to be able to use with the progress that exists in crypto itself.

[Aanuoluwatofunmi]

Governments do have their own power but it is limited to cryptocurrency, that is why you discover that they only perform little to ensure the regulation needed on the entities they have control over in crypto, that is why they are not also taking it with ease when it comes to the affairs of paying tax under crypto regulations, after knowing that they can't help in any situation on this than to allow the people fight for their right.

[KryptoBull]

Governments do have their own power but it is limited to cryptocurrency, that is why you discover that they only perform little to ensure the regulation needed on the entities they have control over in crypto, that is why they are not also taking it with ease when it comes to the affairs of paying tax under crypto regulations, after knowing that they can't help in any situation on this than to allow the people fight for their right.

We cannot deny the power and authority of governments in their ability to influence the development of crypto in their countries. Governments have finances, courts, armies, and media, they can do anything they want in the short term, including suppressing crypto. Nigeria and Iran are doing this very well, while China has not yet lifted the crypto ban.

However, in the long term, I believe that people will gradually gain more understanding and will use their voting rights to elect the government that best suits their wishes. If they love crypto, they will have a government that supports crypto!

[MiningChick]

Governments can mess with exchanges, force KYC, and limit fiat access, but they can't kill crypto itself HELL NO! Decentralized networks like BTC dont care about borders or censorship. The harder they push, the more clever workarounds pop up.

[KryptoBull]

Governments can mess with exchanges, force KYC, and limit fiat access, but they can't kill crypto itself HELL NO! Decentralized networks like BTC dont care about borders or censorship. The harder they push, the more clever workarounds pop up.

That's exactly what we're seeing, crypto is now within the purview of governments. Currently, KYC compliance has become very normal and all users are willing to do it, I don't think it's still a topic for debate. If you don't want to do KYC, DEXs are a better choice for investors.

Regarding fiat transaction restrictions: investors can avoid mentioning crypto in the transfer content when trading P2P, that's how they protect themselves from strict government bans. As long as the internet is working, they will always have access to crypto

[milewilda]

Governments can mess with exchanges, force KYC, and limit fiat access, but they can't kill crypto itself HELL NO! Decentralized networks like BTC dont care about borders or censorship. The harder they push, the more clever workarounds pop up.

This is indeed true on which they will really be that be able to mess up with exchangers and other businesses out there on which involved with crypto but they would really be just that only good on that point but talking about on literal aspect about stopping it technically then that would really be that impossible except into those centralized coins then this could happen. If ever they would be having that tight regulations on like having that imposed taxes on traders then we can always choose up on using up decentralized exchangers if we do speak about p2p trades but in speaking about on conversion into fiat then it would really be that hard but well we do know that this cant be just possible on having that regulation like that.

[JISAN]

Governments can mess with exchanges, force KYC, and limit fiat access, but they can't kill crypto itself HELL NO! Decentralized networks like BTC dont care about borders or censorship. The harder they push, the more clever workarounds pop up.

If the government wants to, it can forcefully shut down all the crypto coins that are operated from its country because the people of its country have to listen to it and obey the law, but the government does not have the power to crack down on coins that are fully decentralized.  Like Bitcoin no one has the power to crack it down only by investing a lot of money its price can be brought down a lot but it cannot be killed.  To the extent that Bitcoin has become popular worldwide, no government has the power to kill Bitcoin.  That is why people's confidence in danger is increasing day by day