Why government should be allowed in crypto

[Varashe]

It was yesterday i was thinking that government should be involved in some part of this crypto, most especially customer protection part when buying a project because the rate at which memecoins are being used to take money from people is alarming, where is $TRUMP, $MELANI, $CAT, $DOG and many more today, they are now valueless, leaving the buyers stranded because of the value.

[Tribalchief]

It was yesterday i was thinking that government should be involved in some part of this crypto, most especially customer protection part when buying a project because the rate at which memecoins are being used to take money from people is alarming, where is $TRUMP, $MELANI, $CAT, $DOG and many more today, they are now valueless, leaving the buyers stranded because of the value.

Lol, two out of the four memecoins that you mentioned are owned, or should I say, where founded by the current president and first Lady of the United States, so what do you actually want them to do in their own case. Out of the four memecoins, I think dogs actually did a great job. It maintained a good price for a while before it was dumped. I didn't follow up with $CAT, but the $MELANI dump was crazy.

Specifically, I think it is actually more of the SEC's duty to protect customers and checkmate these projects, but since the dismissal of Gary, things have not been the same. Celebrities are not left out too.

[Aanuoluwatofunmi]

It was yesterday i was thinking that government should be involved in some part of this crypto, most especially customer protection part when buying a project because the rate at which memecoins are being used to take money from people is alarming, where is $TRUMP, $MELANI, $CAT, $DOG and many more today, they are now valueless, leaving the buyers stranded because of the value.

Government can be allowed in crypto, but not on every sides, because they are not going to take it easy with the people about the kind of regulations they are going to put in place, it is of necessity that we see them adopt bitcoin and also allow other people to use crypto as they wishes all in the name of their regulations, but in a decentralized economy, things must be done in a more open and transferable manner where public opinion and interest must be sorted out first before any other thing be considered.

[Azharul]

I am also believe that if government can be involved properly in cryptocurrency world, i think that it must be benefits for all crypto currency users. Because if we follow in bitcoin, we can see that donald trump also involved in this currency in cryptocurrency world. So i think that in this reason bitcoin price reach high position in cryptocurrency market. But we could understand easily Donald Trump don’t involved in dogs, cat and Trump coin in cryptocurrency market. So wr saw that price of this crypto isn’t satisfying for crypto currency users.

[target]

There are few lawmakers already opposed crypto bill citing that Trump owns a memecoin. But then they may not be successful in baring some crypto laws and stopping memecoins. The SEC identifies memecoin as just for fun though, not a security not commodity which makes it safer to just create a memecoin than having a project that plans to have usecase lol

But not all the memecoins cited by OP are valueless, Trump for example in fact have spiked to $12 recently.

[bitterguy28]

i think your title should be the opposite who is disallowing the government from crypto? its the government that does not want to do anything with crypto though it is getting a lot better these days as you can see many more governments are being more open with crypto

the problem is that it is hard to balance protecting their citizens from crypto while also allowing them as much freedom as they want

[yhiaali3]

The government is already involved in meme coins. So what are Trump and $MELANI? They're memes owned by the US president and his wife, which means the government, but in reverse: they're taking people's money instead of protecting them.

In any case, I agree with you on an important point: governments should enact stricter laws against the creation of these worthless meme coins whose sole purpose is to steal people's money.

[Mia Chloe]

The government is already involved in meme coins. So what are Trump and $MELANI? They're memes owned by the US president and his wife, which means the government, but in reverse: they're taking people's money instead of protecting them.

For the case of the trump coin, it wasn't really the government per say that directly influenced it's price movement instead, it was actually trump himself. Basically he used his governmental influence and position to generate enough hype to pull off such a bull.

As far as the meme coin space is concerned, the trump coin has already served it's purpose just like the trend most Meme coins do too.

[ultrloa]

The government is already involved in meme coins. So what are Trump and $MELANI? They're memes owned by the US president and his wife, which means the government, but in reverse: they're taking people's money instead of protecting them.

For the case of the trump coin, it wasn't really the government per say that directly influenced it's price movement instead, it was actually trump himself. Basically he used his governmental influence and position to generate enough hype to pull off such a bull.

As far as the meme coin space is concerned, the trump coin has already served it's purpose just like the trend most Meme coins do too.

Agree Trump is just using the governments influence to make it look like the project is good since it was backed by the US President. Trump take advantage on the situation and totally wrecked peoples money.

There's also a rumor that he might face a lot of law suits after his terms ends https://cointelegraph.com/news/trump-memecoins-lawsuits

So we provably know what's going to happen after Trump term ends. Since there's huge chance that he might face serious problems due to situation happen on $trump and $melania.

[Crwth]

This is because there are little to no regulations regarding buying and purchasing that, and they have taken advantage of their power to really show how much money can be made if you are really popular. I think there should be some sanctions, but in a way, it's the investors' fault as well, knowing that it is a meme coin.

[r_victory]

I believe that this is what some governments are trying to do: regulate to ensure that cryptocurrencies are not used only, as many say, for money laundering and financing terrorist organizations, as well as for fraud and scams. The problem is that many of these attempts at regulation end up turning into censorship, and this cannot happen. They are already more than involved with the cryptocurrencies.

[Salahmu]

It was yesterday i was thinking that government should be involved in some part of this crypto, most especially customer protection part when buying a project because the rate at which memecoins are being used to take money from people is alarming, where is $TRUMP, $MELANI, $CAT, $DOG and many more today,

There is no how they would use government on that process because there is no way they can even certify that a project is authentic or not since they're not part of the projects, all this project are operated on the digital world and not on the physical, so anything that goes beyond physical especially cryptocurrency the government doesn't have much power on it , so actually people shouldn't even depend on the government for safety investment they can also establish their own safety by not also following the bad but also knowing the realisticness of the projects before any money will be allocated on that.

[yhiaali3]

As far as the meme coin space is concerned, the trump coin has already served it's purpose just like the trend most Meme coins do too.

Has it achieved its purpose?! And what is its purpose?! As far as I know, meme coins have no project or purpose other than collecting more and more money. If that's what you mean, then yes, they have achieved their purpose.

There's also a rumor that he might face a lot of law suits after his terms ends https://cointelegraph.com/news/trump-memecoins-lawsuits

So we provably know what's going to happen after Trump term ends. Since there's huge chance that he might face serious problems due to situation happen on $trump and $melania.

That's good. Yes, it's the least they should do. They cannot allow someone to exploit his presidential position and influence to promote his own projects and those of his wife. This will encourage more officials to engage in corruption by abusing their official influence and will jeopardize the reputation of a major country like the United States.

[Mia Chloe]

Has it achieved its purpose?! And what is its purpose?! As far as I know, meme coins have no project or purpose other than collecting more and more money. If that's what you mean, then yes, they have achieved their purpose.

Yes the meme coin space does have a purpose and it's more like a general purpose thing and definitely the trump coin isn't out of it. Basically their main purpose is to generate enough liquidity and then sweep it off the network. Basically they use hype and for the case of the trump coin political influence to gather enough investors.

Those investors have their funds in the project as the liquidity that is used to drive price to the upside that's why they get liquidated over time.

[Stompix]

Out of the four memecoins, I think dogs actually did a great job. It maintained a good price for a while before it was dumped.

Good job?
Losing 90% of the money invested in it is nowadays being called a good job?

The government is already involved in meme coins. So what are Trump and $MELANI? They're memes owned by the US president and his wife, which means the government, but in reverse: they're taking people's money instead of protecting them.

They are tokens issued by a company that is not owned or has any relation to the president or the presidency.
That's the reason why no matter what happens, you will never be able to sue Trump for it, he can at any point deny he had anything to do with it, other than letting them use his name as he did with everybody else that created a trump token.
Perfect defense even if that token goes to zero.