Is it necessary for governments and banks to accept crypto?

[Domithra]

The governments and banks are major concerns of crypto and the more reason for the price determination on the market now. Crypto is largely influenced by the large numbers of people either trooping in to invest or refraining from it. In the light of this, any factor which drives the people to any of this direction has the potential of affecting the market value and price hence needs to be dealt with respectively.
The governments have great influence on the people and once the government ban crypto in a certain country, more than 90% of the entire population of that country lose interest in investing or patronizing crypto. Hence, it really matters if the governments accept cryptocurrency as this can cause the market to skyrocket.

[Cutter Cute]

If the government accepts crypto, all regulations can be changed according to each requirement of the function of crypto in each country, I think the Bank will accept crypto if the government makes a regulation requiring banks to accept payment transactions using crypto.
This will be a big revolution for the state financial system, as well as an online transaction system

[Eko Kw]

In my opinion, this government must be able to accept Crypto. The crypto coin market that we know has very large transactions and many people make money from here. So if the government can receive more people, they will have jobs.

[Cryptoz]

It will bring big impacts if government and banks accept cryptocurrency. The value of crypto will rise significantly because of positive issue and investors trust to the future of crypto world. However, crypto still can develop without their acceptance, as long as no ban.   

[trauchot]

Governments have already agreed on the regulation of cryptocurrency, at best in 2020 the cryptocurrency will be regulated and then we will see how this will affect the cryptocurrency market, the cryptocurrency demand and price.

[ZionRTZ]

That's just how powerful a government is. Cryptocurrency, no matter how good it is, still needs the acceptance of government institutions to move forward. It may not be what early adopters expected before but this is the reality now.

[Dinid]

I think, most of banks (Governments) have been already accepting and using blockchain technology to improve their financial system, but not accepting cryptocurrencies like btc, eth, erc20, etc.
If Governments (especially on my country) wanna use crypto, most possibility is they will use their own cryptocurrency version (digitizing their official fiat currency)

[raihanjr]

The governments and banks are major concerns of crypto and the more reason for the price determination on the market now. Crypto is largely influenced by the large numbers of people either trooping in to invest or refraining from it. In the light of this, any factor which drives the people to any of this direction has the potential of affecting the market value and price hence needs to be dealt with respectively.
The governments have great influence on the people and once the government ban crypto in a certain country, more than 90% of the entire population of that country lose interest in investing or patronizing crypto. Hence, it really matters if the governments accept cryptocurrency as this can cause the market to skyrocket.

I think that to accept is not a problem and the government will certainly support and the cause of crypto is rejection in some countries because crypto can disrupt the government system and destabilize fiat money in their respective countries

[inewoods]

The governments and banks are major concerns of crypto and the more reason for the price determination on the market now. Crypto is largely influenced by the large numbers of people either trooping in to invest or refraining from it. In the light of this, any factor which drives the people to any of this direction has the potential of affecting the market value and price hence needs to be dealt with respectively.
The governments have great influence on the people and once the government ban crypto in a certain country, more than 90% of the entire population of that country lose interest in investing or patronizing crypto. Hence, it really matters if the governments accept cryptocurrency as this can cause the market to skyrocket.

Accepting crypto by banks or government more or less will have some increase of volume for crypto be it for a new type of payment or new type of investment, but if banks and government accept crypto which can also means stricter rules will be lift on crypto trading.

[khufuking]

Most of the countries will not officially accept Cryptocurrency with regulation and not country will regulate Crypto unless they can really control it which we all know can't happen unless we totally kill the decentralization and anonymous nature of most of the Cryptocurrency. My country does not officially accept Crypto neither ban it too and I think that is the best thing we have, it is like acceptance but without any official regulation.

[Annalise]

Yes. It is very necessary , it means that the public will now accept  cryptocurrency as a payment medium which would go a long way in pushing for the wider spread acceptance of Cryptocurrency.

[PreshB]

Yes  is  very  necessary  for  bank  and  Government  because  it  will  enhance  their  financial  growth  and   also  make  things  easier  for  the  Government.