Can governments crack down on crypto?

[Wiwo]

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?

Bitcoin can exist without governments, because it is not based on speculation, but on decentralization and in a real demand for a global currency, internet money, etc.

Other cryptocurrencies are not that resilient, so the rest of the crypto market certainly need government acceptance and depends on regulations.

The government already knows its weaknesses in controlling Bitcoin and how people relate to it, and instead of facing and accepting the obvious truth, some go wire to declare all manner of negative laws and pronouncements against Bitcoin and its adopters.

Instead of trying to create a policy and regulations that can help the government have some level of control on bitcoin services like centralized services such as exchanges, casinos and other payment gateways to generate revenue.

[dave_strider]

The government already knows its weaknesses in controlling Bitcoin and how people relate to it, and instead of facing and accepting the obvious truth, some go wire to declare all manner of negative laws and pronouncements against Bitcoin and its adopters.

Instead of trying to create a policy and regulations that can help the government have some level of control on bitcoin services like centralized services such as exchanges, casinos and other payment gateways to generate revenue.

That's just FUDers, they will always be there.

And it's better to have them rather than real actions taken about BTC and crypto in general.

[KryptoBull]

Maybe it's too early to talk about the influence of governments on another government because of crypto. Tbe US that promised to make crypto reserve hasn't really done anything about the reserve, it's the Bitcoin they have seized some years back they plan to use as the reserve, so if they don't buy any Bitcoin yet, we can't really conclude on it yet.

We can't really trust the government judgements on crypto, they have the power to influence but if they really want to influence, it will be on their own interest, it will never be for the people, they will regulate it to fit their own ways and taxes are going to be compulsory, you can't even hide it.

Currently, we see many governments starting to accept crypto, like Pakistan, and even conservative governments like Vietnam are looking to regulate crypto for taxation. This isn't a rapid change in a few months; I believe they've been studying this issue for years, but the US's acceptance of crypto has made it impossible for them to remain silent or ignore crypto any longer.

The US is the world's largest economy, and their decisions have global impacts, like the FED's interest rate adjustments. The same will be true for crypto: if the US embraces crypto more actively, such as directly accumulating more BTC and altcoins, game theory will force other governments to join this financial revolution.

[milewilda]

The government already knows its weaknesses in controlling Bitcoin and how people relate to it, and instead of facing and accepting the obvious truth, some go wire to declare all manner of negative laws and pronouncements against Bitcoin and its adopters.

Instead of trying to create a policy and regulations that can help the government have some level of control on bitcoin services like centralized services such as exchanges, casinos and other payment gateways to generate revenue.

That's just FUDers, they will always be there.

And it's better to have them rather than real actions taken about BTC and crypto in general.

Actually this would really be that only the way on which government would really be able to have a good grasps with crypto space on which we do know that they cant really just that possible to literally be able to ban nor really that eradicated Bitcoin or crypto as a whole and thats why there's nothing they can do but to only impose some strict rules and laws into those businesses on which that being that attached or really that being connected with crypto transactions and this is where we do see up that they are really that strict when it comes to implementing rules because they cant just literally be able to crack down crypto. Instead on trying out to ban then they would really be rather be just that needing up to take up such step on utilizing for having more revenues.

[rizqillah]

The government already knows its weaknesses in controlling Bitcoin and how people relate to it, and instead of facing and accepting the obvious truth, some go wire to declare all manner of negative laws and pronouncements against Bitcoin and its adopters.

Instead of trying to create a policy and regulations that can help the government have some level of control on bitcoin services like centralized services such as exchanges, casinos and other payment gateways to generate revenue.

That's just FUDers, they will always be there.

And it's better to have them rather than real actions taken about BTC and crypto in general.

Actually this would really be that only the way on which government would really be able to have a good grasps with crypto space on which we do know that they cant really just that possible to literally be able to ban nor really that eradicated Bitcoin or crypto as a whole and thats why there's nothing they can do but to only impose some strict rules and laws into those businesses on which that being that attached or really that being connected with crypto transactions and this is where we do see up that they are really that strict when it comes to implementing rules because they cant just literally be able to crack down crypto. Instead on trying out to ban then they would really be rather be just that needing up to take up such step on utilizing for having more revenues.

Bitcoin and other cryptos are hard to limit and as we see now the government finally accepts and allows its citizens to invest in bitcoin and altcoins. Although bitcoin has not been legalized as a payment method, but by being allowed as an investment tool I think we have seen good developments from crypto. because in the future it will likely be accepted as a payment method soon.

[enwi]

Bitcoin and other cryptos are hard to limit and as we see now the government finally accepts and allows its citizens to invest in bitcoin and altcoins. Although bitcoin has not been legalized as a payment method, but by being allowed as an investment tool I think we have seen good developments from crypto. because in the future it will likely be accepted as a payment method soon.

Yes, present days different countries begin to allocate certain space for digital assets, which in general shows the shift in their perception of this technology. While in the past few questioned the possibility of the ecosystem long-term sustainability there are many who are willing to take it as an investment tool. This could be the start of a revolution, as these companies keep gaining people’s confidence, making their use in regular transactions the next big thing. It is quite clear that more and more enterprises and organisations begin to accommodate this idea and if the rate of such development will remain the same, it will be possible to state that the digital assets may become one of the key options for the payment system throughout the world.

[KryptoBull]

Bitcoin and other cryptos are hard to limit and as we see now the government finally accepts and allows its citizens to invest in bitcoin and altcoins. Although bitcoin has not been legalized as a payment method, but by being allowed as an investment tool I think we have seen good developments from crypto. because in the future it will likely be accepted as a payment method soon.

We are just at the beginning of the crypto era. Government acceptance is in its early stages, and I believe it will take a few seasons for crypto to gain global popularity.

Currently, some governments have voiced acceptance of this new asset, some oppose it, and most remain silent to observe and await the results of trials in various other countries. I'm thinking about the moment they collectively confirm the positive value of crypto; that will be the starting point of an accumulation and growth wave.

[tequilla_sunset]

We are just at the beginning of the crypto era. Government acceptance is in its early stages, and I believe it will take a few seasons for crypto to gain global popularity.

Currently, some governments have voiced acceptance of this new asset, some oppose it, and most remain silent to observe and await the results of trials in various other countries. I'm thinking about the moment they collectively confirm the positive value of crypto; that will be the starting point of an accumulation and growth wave.

I do think there will be a pro-crypto camp and the CBDC camp. And they will coexist and rival each other sometimes

[KryptoBull]

I do think there will be a pro-crypto camp and the CBDC camp. And they will coexist and rival each other sometimes

CBDCs are being tested in the EU and China, and I believe I know their outcome. CBDCs can't compete with stablecoins, as they have many weaknesses in their governance model that governments can't seem to solve.

I've always seen CBDCs as just a tool for governments to increase their control. They wanted to use CBDCs to satisfy people with a new type of currency, but they were wrong. Many CBDC plans have been scrapped around the world, and those governments are actively embracing crypto instead of trying to fight and destroy it.

[tequilla_sunset]

I do think there will be a pro-crypto camp and the CBDC camp. And they will coexist and rival each other sometimes

CBDCs are being tested in the EU and China, and I believe I know their outcome. CBDCs can't compete with stablecoins, as they have many weaknesses in their governance model that governments can't seem to solve.

I've always seen CBDCs as just a tool for governments to increase their control. They wanted to use CBDCs to satisfy people with a new type of currency, but they were wrong. Many CBDC plans have been scrapped around the world, and those governments are actively embracing crypto instead of trying to fight and destroy it.

In some cases they will be successful, but in most - it would be done purely in spite of BTC and to not to follow what is the best option out there, unfortunately.

[KryptoBull]

In some cases they will be successful, but in most - it would be done purely in spite of BTC and to not to follow what is the best option out there, unfortunately.

Russia and China have always been countries with extreme political actions related to peace and the economy, so I'm not surprised by their decisions in the face of this crypto wave. Russia has changed its attitude under pressure from a series of Western sanctions, while China is gradually moving towards crypto through Hongkong.

Anyway, no one can destroy BTC or stop others from using BTC, they can only prevent themselves from accessing BTC. I'll wait for their failure and watch them rush to accept crypto in the future to keep up with this new era

[kimberlyto65]

Yes, governments can and have cracked down on cryptocurrency in various ways. While they may not be able to completely eliminate decentralized cryptocurrencies like Bitcoin, they can impose regulations, restrict access, and make it difficult for businesses and individuals to use crypto legally.

[Mr. Magkaisa]

        -      In my understanding, bitcoin and cryptocurrency really exist only through investors. In short, these investors are the heart of this industry, because without investors, bitcoin and even the other top altcoins in this field of crypto space would not last long.

Although, we also know that the majority of cryptocurrencies are run independently, but of course the power and authority still lies with the government because anytime they ban any cryptocurrency if they want it.

[KryptoBull]

Yes, governments can and have cracked down on cryptocurrency in various ways. While they may not be able to completely eliminate decentralized cryptocurrencies like Bitcoin, they can impose regulations, restrict access, and make it difficult for businesses and individuals to use crypto legally.

Absolutely, it's a fact we have to acknowledge, even with our love for crypto. Some governments hold extreme views, wanting to protect fiat at all costs, and spread propaganda that crypto is just enemy-made software to attack their economy.

Others see crypto as merely a speculative market, lacking the economic value of stocks. They don't grasp the security, independence, and transactional speed that crypto offers. They should be replaced by members with more economic savvy

[yohananaomi]

The government already knows its weaknesses in controlling Bitcoin and how people relate to it, and instead of facing and accepting the obvious truth, some go wire to declare all manner of negative laws and pronouncements against Bitcoin and its adopters.

Instead of trying to create a policy and regulations that can help the government have some level of control on bitcoin services like centralized services such as exchanges, casinos and other payment gateways to generate revenue.

That's just FUDers, they will always be there.

And it's better to have them rather than real actions taken about BTC and crypto in general.

Actually this would really be that only the way on which government would really be able to have a good grasps with crypto space on which we do know that they cant really just that possible to literally be able to ban nor really that eradicated Bitcoin or crypto as a whole and thats why there's nothing they can do but to only impose some strict rules and laws into those businesses on which that being that attached or really that being connected with crypto transactions and this is where we do see up that they are really that strict when it comes to implementing rules because they cant just literally be able to crack down crypto. Instead on trying out to ban then they would really be rather be just that needing up to take up such step on utilizing for having more revenues.

Bitcoin and other cryptos are hard to limit and as we see now the government finally accepts and allows its citizens to invest in bitcoin and altcoins. Although bitcoin has not been legalized as a payment method, but by being allowed as an investment tool I think we have seen good developments from crypto. because in the future it will likely be accepted as a payment method soon.

There are still restrictions that occur, but if he understands that these restrictions are not very effective, they can be done because of the nature of crypto, which can do anything without rules made by the government.
Agree, many have acknowledged that bitcoin can be used as an investment even though it is still limited and cannot be used as a legal means of payment and must be changed into a predetermined fiat, but this is progress that must be accepted, and it is very possible that it will be improved one day, and it will take more time.