Bitcoin Forum

As crypto/Blockchain tech becomes more popular, mainstream banks and governments will be forced to take action against this emerging industry to stop its growth worldwide. They don't want to people to use crypto on top of Fiat, so we'll be seeing new tactics from said entities in order to destroy crypto for good. One of those tactics could be either banning people from trading crypto at a centralized exchange or simply prosecuting developers of a cryptocurrency project. I believe the latter option is much easier and effective for governments to put an end to crypto for good. Before devs will be able to launch a new cryptocurrency, they're going to need governments' approval. Otherwise, they could face serious consequences in the long run.

Thoughts? ???

The smartcontract was running inside the blockchina that has been creating by the connection between lots of nodes that already spread around the world.
How is it possible for the government to prohibit the developers from the creation of new coins? im thinking if the listing could become a way for the government to prevent the new token to enter in the market.
i think that government has nothing to do with the activity of developers issue new coins.

They can forbid it if they want, the problem is how are they going to enforce this? I mean more than a decade has passed since satoshi released the first cryptocurrency and to this date there is no reliable information that says that they had been able to track him down since he took all the precautions that he could so he could remain anonymous.

What is stopping developers in the future to do exactly the same and do the best that they can to protect their identities and release their coins anyway? To me regulation seems like the best path for the governments, otherwise they are going to make a fool of themselves.

You are absolutely right, and I align my thought with yours, it will be absolutely foolish for the government to try to stop developers from making new coins, as this isnt going to work in what ever way we choose to look at it, Satoshi and bitcoin is a very good point to reference on.
CryptoCurrency are completely decentralized in nature, which means one does not require permission from anybody to perform or use it, I and everyone else in any part of this would can create/develop a crypto coin from the comfort of the bedroom without anyone knowing who developed it if the developer decides to stay anonymous like in the case of Satoshi(is Satoshi even he's real name? Of course not).
So conclusion is that government have no power to stop cryptocurrency development, but like others have said here before, they can regulate its usage if they want.

This will return to regulations and also the law related to Cryptocurrency in the country.
If it's indeed legal, it doesn't need to worry because probably the cryptocurrency is not used as a real payment tool in their country, not to compete with their fiat. But more to other token utilities.
But if there is a ban and Crypto is not legal, then it can be a problem.
And whether every new company or project must always get approval from the government?

Absolutely not No one can stop the development of new coins I think they will continue to evolve and grow and basically we will keep getting new coins including shit coins and money will keep changing hands so my advice is simple keep doing what you are doing and maybe take advantage of one or two fresh diamonds in the market and take care while it shines

Government can't control these people because they are not under the employment of the government. So no one can stop them from creating new coins, and as we can see a lot are creating it anonymously, so no one knows behind such projects. What we can do as crypto users, is be cautious on investing with projects. It is now our responsibility to take care of our funds and do the homework before buying any of these coins in the market.

Yes, but it still depends on local laws and regulations. If your country prohibits the use of bitcoin, if you want to issue coins, the government will 100% prohibit you from implementing it (you can issue it in places where it is permitted abroad)
If your country allows the use of cryptocurrency, then everyone's currency can be issued, because everyone can issue currency to see if you will be trusted by others. Not everyone's project will be trusted.

Because cryptocurrency is decentralized and spreading by the internet, creating a new coin doesn't require any physical document to launch the coin the the public, so it's easy to launch it anywhere in the world in which country. Like my country is banning crypto right now, but i know there are several people that known rich, making their own cryptocurrency but under different country. So people will trick it if that happen.

I don't think it will be possible on both for a further prohibition but I guess there should be a regulation that may mitigate for those who will abuse it especially on the thing creating new coins with just no usecase. Regulations will be part of the crypto world and that's a fact in the coming years since there are more and more institutions are coming into crypto.

There are many other ways that crypto lovers can do if the option is carried out by the government in stopping the rate of crypto.
I think that so far, crypto has helped the government a lot in terms of income for the people living in their respective countries.

This is only applicable if the government implement this kind of rule. However only few will do this as people will totally oppose them. Imagine not using crypto or creating pne for their own sake is greed.

Country should also remember the freedom people can choose. This is depend on type of government too. If its same like China then chinese people have really no vote to that and need to accept the fate as their goverment is implementing it.

Innovation drives a country as well as attracting more investors which in turn leads to more economic growth of a country in a way. In the case of crypto projects, remember most of them are based in different countries, and there is no way they will operate without the right regulations of that country which of course will include tax, that is to say, all these countries crypto projects are based on pay taxes which adds to the revenue of the country, and since most countries like taxes I don't think they will prohibit any new startup crypto project.
Also, in the issue of crypto being used more than fiat, I also don't think it will happen, the question is, how many offline businesses are accepting crypto? How many even know much about it? Therefore my opinion is, both crypto and fiat will know their place in all countries, both will exist along each other but however fiat will also reign over crypto since it is backed by the government.

No, in any case, in civilized states where the rights of citizens are respected, this will not happen for sure. As a general rule, citizens have the right to engage in any kind of business or activity, if they are not prohibited by a special law. There is no reason to prohibit citizens from creating new cryptocurrencies. Moreover, many of them serve certain types of business or simply create additional conveniences in the field of economics, finance, trade and other activities.

So far in my country there are no restrictions or any rules regarding crypto. As far as I know, fiat and crypto can coexist with each other. it's true that there are too many scams in the name of crypto, but it's not with rules to destroy crypto that are the solution. at least there are rules and legitimacy if developers don't do scams to keep investors safe.

I don't think the government have such power to impose such strict regulations on crypto,  besides as a decentralized entity how can they manage to do that! Except you are saying they have the power to control the blockchain entirely, otherwise I am not sure this will be possible for them to carry out, developer's can still be able to develop even if they impose regulations on crypto through exchanges, this is hoe I see it.

focusing on exchanges or any hub connecting buyers and sellers is more efficient to control the flow of the market. even there is a law prohibiting a dev to publish new coin, implementing and maintaining it will be difficult since the dev can easily use a smurf account. it's not worth it, as mentioned above.

decentralized system make us could do anything we want , every one could build their own project without any restriction from anyone include from our government . developers team could work remotely and spreaded in several countries.

they could crack down exchanges when  they want but not blokchain technology developtment , no one will stop it. technology is changes everyday and why they have to stop it ? its very fool.

Are you aware that some country especially US requires crypto user to submit all there transaction as a requirements for paying there tax? If ever government really publish this kind of law. They can easily track there people transactions and detect whether they bought prohibited coin or not. Its not necessary for them to cracked down devs or exchange while they directly target there peoples itself.

In decentralized system there is no room for government to be above it because decentralization is in full control of its development, I'm sure the government will look for bugs to control new project developers but I'm sure it will take a long time for that.

I don't think that there is any way to stop devs from creating new crypto projects even if countries would try really hard to do that. I mean let's say a country would really ban crypto projects totally and would also forbid to develop crypto projects then developers in this country could still create a blockchain project and once it's finished launch it from another country via VPN or something. That is just the same that is already happening with some Websites that can't be accessed from certain country, just use a VPN and simulate that you are from another country and you can access the website. It could only be a problem if the devs get caught during the programming of the project.

I think you are aware that none of the projects accepts funds from US citizens, hope you are aware of the reason because the government does not allow to invest in these projects and have you gone through any legit projects that are still accepting seed funds from them, they will not if they want to continue with the project because they will get into trouble.

You can use VPN and other proxies to overcome restrictions to access a website, but when it comes to investment it is different, you could invest if the project is not asking for KYC and if it is a public sale but you cannot invest as a US citizen during private sale.

When requiring KYC verification, there is no way for participants to join from countries registered in the prohibition on private sale, except using data verification services for relatives from different countries or funding other people accounts that have been approved in the whitelist with an agreement on the profit sharing system but the risk is high if he steals tokens from private sale.

we see a lot in various media, many countries prohibit the use of crypto currency in their country, for various reasons, such as money laundering, waste of electrical energy and others.  Even though there are negative assumptions from several countries, I think it is very difficult to kill the hegemony of cryptocurrencies, because there are advantages to cryptocurrencies which at this time are also increasing demand.  maybe even if there is a country that really wants to kill him, that is by cutting off the internet and electricity networks, and all humans return to ancient times.

It is possible for government to support/ignore a new cryptocurreny but only after they legalize the use of cryptos. I mean if government hate about having lots of cryptos and when they are advising their citizens about not risking with new things then there will be a healthy environment for investors. This will become possible for governments to analyze the projects to conclude about the project's worthiness before declaring about its approval level to their citizens.

We shall see because often times lobbyist will do sneaky things to insert something in the proposed bill to be approved overnight. If they are going to do this while many senators had already express their opinion about the supression of the innovation in this new industry, the support from big tech will come protesting.

Many of the has oppossed to the infrastructure.bill because its "unworkable" so they say that it will probably ruin this industry that already provide jobs for the people.

Blockchain is opensource by the way, nothing should stop developers from developing tokens. But listing to the market will probably be harder for its going to be regulated soon.

that's it. The government will never able to handle the decentralized technology such as EVM. People were running it on their nodes and that means if the token issuance will never able to be controlled by the authority.
That being said that if that will be a useless idea for the regulators to handle it. Exchange site was more than enough for them to monitor the situation rather than call a strange regulation for the token issuance

The government has the right to prohibit technological developments from creating the latest Cryptocurrencies, but what about the government officials who are in it,,,,???
I mean, I mean a lot of officials who invest in crypto, so it's the opposite of officials who want to stop and who join in it, I think it's rather difficult for the government to stop the development of new crypto except in crypto there is no government in it

That will be their last resort and developers is going to protest this action and they will fight it in court because we have the freedom to express and creating a Cryptocurrency is a way to express ourselves or a company because Cryptocurrency can be a reward form, they are already regulating launching crowdfunding using Cryptocurrency, they don't have to go to that extent.

No, I do not agree with these statements. Thats seems like more of a totalitarian government where freedom of speech is crushed by the government, something that is not normal for a democracy to move in and something that is feared by many people and therefore the thought.

Government want innovation and they want its citizens to create new things for them to boast of. Going backwards in civilization is not what they wish to do.

The exchanges that run have some government support and trade licenses, otherwise they would not exist in the first place. Understand for a fact that the ones that got raided and taken down have been into money laundering. If a certain development is occurring and there is no criminal activity linked to it, then the governments dont see any such forcible steps as necessary. Talking from where I am from which is a democracy, dont know about other countries though.

Such steps are not going to happen, even in far future.

First of all, from the Block chain nodes of smart contracts all over the world. Each  government  has no ability to completely prohibit the issuance of new cryptocurrencies.
The purpose of the government is to strengthen supervision and increase tax revenue. Banning development is the most stupid act, and no government will  banning cryptocurrency developer totally.

I also thought the same thing. however, I don't think it's an effective option for the government to ban this technology. however, it would be great if they just made regulations on this, as is the case in some countries. it would probably be great for a business tool, or an investment, but swapping it with Fiat would probably be better and support both parties. it's just that we don't know what the government is thinking. I think regulation banning cryptocurrencies is not a good choice because it will pressure this technology to fall.

They can ban people from trading in exchanges through regulation of each ISP existing out there, but people can still use VPNs to bypass that. Not sure about the latter, but people can still just code without the use of the internet and again if it would be prohibited to be listed in an exchange due to bans of their ISP, VPN would still be there in the end.

Open source code can't be stopped.
Open source code that runs on a global decentralized peer-to-peer network can't be stopped.
What are all the worries?
Bitcoin's out there since many years now and prove that a global decentralized network can survive even the worst attacks.
Of course, the network needs to reach mass adoption to survive.
For a new coin today that's the hardest part, to reach a great number of users wanting to power and preserve the network.
But the code's there for everyone to make use of it.

Regulations may stiffle creativity and developers may be at the receiving end of goverment regulation hicupp or beureucracy! But the ability to create coin based on new ideas will still be there! There may be more requirement for a developer to be allowed to carry on such endervour. I believe cryptocurrency is good alternative to fiat and a better tool for processes and economic endavours!

Not true. They can stop it.
Try Binance as an example. No headquarters and some traders that had a problem with them do not know how to sue them without an address to fill up.
If you are a developer and creating a new coin for a new project you will need that because it will also add a trust rating that may become the reason to magnet purchasers. What if your government forbids it? It's not easy to move forward if your own country is against you.

Governments have long understood this, so they are starting to implement CBDC.
Further, they will be able to easily analyze from what sources citizens receive their income and conduct a very tough policy.
In China, as early as next year, citizens will see all the negativity from the introduction of this total control over the population.
First, everyone will be promised huge bonuses, and then, when everyone gets used to it, another phase begins.

I think that even if the governments will forbit developers from operating in their countries, the question is, was it implemented in the 11 year history of crypto? And if so, was it successful? Developers keeps on making coins and companies and projects keeps on supporting these ICOs and creating new coins and tokens for their money making efforts. Seems like any regulation that is being passed to them by governments have failed to destroy crypto and will continue to fail.

I think it's impossible to stop those developers to create a new coin in the market, because they're totally anonymous. Indeed if its possible to stop those devs perhaps it already happened even before when bitcoin emerged and they discovered what are the disadvantages of it, but unfortunately they can't do such things and that's because most of the creators are untraceable as well and the type of technology we have here in space is different .. And probably for them its a waste of time . Lol because people always makes another way especially if they can make good income.  ;D

I don't understand why people are always afraid that governments should ban anything regarding crypto. That just doesn't work. Why would the government want to ban the creation of new software, because coins and smart contracts are nothing else. Moreover, you can simply deploy the code anonymously. So how do they want to punish or prosecute that? Besides, something like this is nowhere up for discussion. Not even in China. That has recently been banned mining, but not the possession of cryptocurrencies.

Even though the government forbids developers from creating new coins, it doesn't stop developers from making new coins. Still, developers will create
new coins in various ways, the proof is that new coins keep popping up every month. The crypto world is indeed very difficult to control, even some
countries prohibit their residents from owning and using crypto. But still there are always people who violate government rules, so the conclusion is that
the government will not be able to stop the development of crypto. As long as crypto can provide benefits, surely many developers will create new coins.

I am wondering how they will stop people from developing their coins with smart contract. It is open source that can be used by anyone without any verification. Who can provide proof? If they could do it, they probably did it because of the pressure of bitcoin. Lol, Or I was wrong ::)

That's an excellent question. Governments can forbid developers from creating a new coin, but it'll be hard to prosecute those which are careful of leaving any tracks that would link them back to their identities. Someone like Satoshi would be hard (if not impossible) to find in order to enforce the rule of law. The only option would be closing centralized exchanges altogether. But even so, people are able to gain access to crypto/Blockchain tech via other means. Decentralized & P2P exchanges, atomic swaps, and the TOR network make it all possible for people to avoid government restrictions in the first place. Mainstream governments will have no choice but to "live" with crypto or get left behind in the dust. We'll see how everything will turn out to be the more crypto/Blockchain tech becomes popular worldwide. Just my opinion :)

Prosecuting developers for writing code will be very very difficult from a legislative perspective. Generally, you can write whatever code you want as it might even pertain to freedom of speech. Why shouldn't you? If they were to pass a law that developers could be cracked down who write code for secure data transfer from A to B, which is what blockchain does, how would they treat messengers like Telegram and WhatsApp? Those are definitely used to organize crime. I think that is a hard route even for regulatory bodies to justify in front of the highest courts.

Actually the Government has full power over the people, they can provide regulations regarding the prohibition of trading Crypto and the prohibition of creating new coins. And they can give them heavy penalties if the people are proven wrong, thus the growth of Crypto in the country will decrease.
But actually it will still be violated by the community, because this cryptocurrency is a modern technology that has many advantages.

remember the government does not have a policy on this, crypto is global not only in domestic countries. I see there will be lots of tricks or ways for crypto lovers to keep developing crypto, so don't assume the government will be able to control crypto and can ban it at any time

I don't see it that way. There's no way banks will destroy crypto because after all, they have their own digital asset. Why should they destroy it if they can use the blockchain instead as their advantage? Bank fiat payments also improved and evolve. Sending money is instant and just 1 tap. And banks no need to stop people, as people are the ones limiting themselves in crypto.


That's already the law implemented in those non-crypto-friendly countries.

However, at centralized exchanges, the government is profiting from them as they are registered businesses so I don't see their operation will be stopped.


Most later projects who held an ICOs are like that. If I've not mistaken some projects in 2018. I hope I can name a few if I remember one.

A reference for investors that they are secured before investing.

So many protocol in the crypto were fully decentralized. that means if there was no chance for the regulators to create such policy to the be applied for the smartcontract users and developers. Imagine that when it will be happening and then people can still issue their tokens on their own computer. that means if that will never happen.
The decentralized system was preventing it to happen to give freedom for anyone to use the smartcontract

Decentralization give space for every developers and users to keep away from any intervine coming from the

government, the concept prevents them to have any grasp with this system, and let it be like that as freedom

for everyone made this industry more interesting.

Maybe it will works in the part of the government if they regulate cryptocurrency and implement some rules and regulation to follow by the cryptonian's but still limited because digital currency is decentralized and government has no full control or authority over crypto. Also it depends if the country is not crypto friendly but if the country is open for cryptocurrency, government will not prohibit the developers from creating new coin nor banning people from using, trading and investing in crypto.

Could be possible! But newly created cryptos are not really the matter of concern for the governments. The main concern is related to the big cryptoa with active markets. So having a law that prohibits creating a new cryptocurrency will not address the issue.

Governments around the world, are working to impose a blanket ban on cryptos, especially the third world countries. But in first world countries, we are observing somewhat friendly behavior from the government towards cryptos.

But frankly, having a negative law doesn't really affect the crypto market because it's technically very difficult to enforce the law on cryptos due to its anonymity factor.

This will only possible if the government already supported cryptocurrency but for now, this is still unrealistic because the government is still not regulating crypto and every country have their own rules and regulations to follow. We know its easy to create a token, but only few projects are real so don’t waste your money on a fake project.

I highly doubt that developers would care. Everyone talks about how governments may or may not do this but I do not think that any developer would actually care. I know many people who made their own tokens in the past year, and none of them notified their government about it, so how could government ban something they do not know about? Hell nobody even knows who they really are, only their nickname.

Could that be really fought and eventually government could figure out who they really are and punish them accordingly if it was banned? Yes they can, they have that "power" but do you really think that any government would go that far? I think developers will continue to make their own tokens without interruption, at worse do it like casinos where you open a token in curacao or whatever and that will still be quite easy to overcome any illegal situation.

I don't think they can do that, because create new coin don't need regulation or make it legalize as long it is not to be a company. In my mind, government maybe only can do something to what is already registered as legal company to them. Like exchange, maybe like forcing people to do KYC, because exchange only follow regulation that come from government.

I also dont think that this can even be possible. What could even be a reason to prohobit development. Every new coin is a new project. Every new project means new money as taxes (as we are supposing govenment can prohibit, meaning they adopt cryptocurrency). Instead of prohibiting, they must support. But in situation if cryptocurrency is not adopted, why would govenmenr tell new projects what they can do or they can not do. At home at my own pc I can do what ever I want as long as it is legal. Developing software is legal so far.

I don't think there will ever be such restrictions. In order to suffer the consequences of creating new coins, governments would have to make cryptocurrencies illegal. Governments can block development by hindering cryptocurrency trading, but will never penalize developers for creating a new coin or token.

Aside from what I also mentioned previously, if they were able to forbid something crypto-related. They could have done the same already to Bitcoin long time ago before it even went mainstream.
They just do not have the choice right now but to either adopt it, live with it, or just ignore it and continue with their duties governing whatever they are into.

No one will restrict anyone from innovating and creating novel products but you need to understand that all of the projects that are in the market are raising money without any permission what so ever and we have seen thousands of projects that raised money and majority ran away with the money they raised and you think the government will standby and allow that to happen  :P.
There will be regulations for raising money and any developer planning to raise money should follow them.

I think there is no need for rules to develop new projects, with new altcoins, but monitoring needs to be done for this and laws need to be owned by each country for cryptocurrencies in order to be able to crack down on some fraudulent projects because this aims to avoid scams that can harm investors, as I know, some new ICO in 2017- 2018 ended in scams, like Bitpaction Exchange and many other things.

Cryptocurrencies have transparency data and I think it's a good technology for now, the government can't make any special rules about licensing crypto projects, because some countries have copied Sathosi's idea without needing permission from anyone.

But it is not transparent what government does with taxes money also, as a tax payer I cant control that either. If I can not control them, why should they control me? :)
I understand that project raise huge amount of money, but no on is forcing investors to invest and be protected from scam by government. At least there must be a line, below which government dont interfere into the project, and above which government should. Yet again, project will find a way how to trick government with that.

I can’t really say for sure, but I think that it is going to be more easy for them to ban exchanges than having to stop developers because there are lots of projects these days that their developers are not known, it can just be something that’s open and built on platforms like Github and things like that. And then I don’t think that the government is going to stop people from developing their own cryptocurrency in countries where the cryptocurrency market has already gone far.

There are big companies these days that now owns a cryptocurrency, and they wouldn’t like the government to ban it. Most of these companies works closely with the government, so it’s not likely to happen.

Yes and the community failed to come up with solutions to the problems arising with ICOs. That's the bitter truth. I thought we should built a reliable type of a custody system where the money has to be credited first and then there need to be reports by the team on their progress or whatever. At least some kind of system that ensures that these blatant scams like taking the money and running off can't happen. It turned out we can't do that so the governments must step in. There is no way around that. Newbies will keep falling for that shit.

Not so anonymous as you said but when you are wanna try to issuing the new token and then it will be anonymous as you will be dealing with the protocol. From the thread if it's clearly said that if creator of this thread was imagining when the government was putting restriction to the token issuance.
That means if the gov was not yet banning the cryptocurrency

It is possible, but many countries already legalize crypto. If in a country the government prohibits the developers, then they can move to another country that is crypto legal there. For example like Binance ever did, they move from China to another country that accepts crypto projects/companies. So, there is still a chance for the developers to create new crypto coins. We don't need to worry so much.

It is possible, but in the other sense this is to maintain those new projects that don't have any other thing to do but to scam people. But if it's a legit company that they've stopped.
That's what they're going to do and fly around to nearby country where they're allowed to make it. But I think that's too much for them if they're just a new coin and starting out.

Legal harmonization will be a big problem not for us, but for regulators. They can't really prohibit anyone from writing the code, but only from publishing it, but what would happen then if exactly as you say go to a country where it is allowed and publish it there? Even if you return, on what legal grounds are they going to sue you? It's is going to be almost impossible for them to forbid writing code.

Cryptocurrency is also just a kind of software, it's a solution to anything. How can the government stop cryptocurrencies because cryptocurrencies are built on blockchain technology. Many blockchain projects are anonymous so it will be difficult to prevent a new project from being created. A project that wants to develop for a long time needs to be legal and receive the recognition of the community. In the crypto space, the government has less power compared to other markets.

Maybe they don't even have to move to another country. What if they set up a company with a partner in a country where it is allowed to publish the code or make a deal beforehand with someone who publishes the code in their own name in a country that does not prohibit people from publishing the code? I think there are a lot of ways around it if that turns out to be a problem. I don't see a realistic way for government to crack down on people who write code and hand it over to someone who is allowed to publish. There is a similar problem with ghostwriting. If a ghostwriter writes a thesis and argues that he didn't know it was for academic purposes or abuse, there is nothing you can do against the ghostwriter unless the court can prove otherwise, and they can't if there isn't somewhere a written note that states exactly what the court needs.

Government cannot prohibit developers from creating cryptocurrencies because cryptos in its true nature is decentralized and can operate without any government interference. What the government have the power to ban or prevent is the exchange of crypto profits for fiat currency. Creating cryptocurrencies is basically coding

in fact, the government could easily ban it, by not issuing a business license as an official company. if it is not recognized by the state, it means that the project can be illegal and not recognized. the solution is to work with other parties from abroad who can legally issue business licenses. there's always a way, so don't be too bothered.
moreover crypto is increasingly popular and well received by the community. we just need to educate as best we can from what we can reach so as not to be easily trapped by scammers.

It's called a smart contract for a reason, the government simply can't stop either the blockchain or smart contract from running and thats a fact, the only part which I feel and hope that it can be stopped is these madness of creating new coins everyday, before the Ethereum smart contract was developed, you would need to be able to code a full blockchain before you can create a coin, but just after eth made it easy for weak devs to exploit thats when we started seeing new coins been created everyday,although the government can't stop this from happening since they have no power over the blockchain.

Crypto is a technology that is constantly evolving and I don't think any Government will be able to stem it unless it just regulates it. Blockchain can streamline costs and also increase data security so that the Government should adopt it for public services, besides that many business sectors will engage in crypto for their business interests.

Good point. Developers could simply cover their tracks in order to prevent being prosecuted by the government. If Satoshi managed to create Bitcoin "under the radar", what makes you think developers from other projects won't do the same? I think governments will eventually give up in their efforts to undermine crypto/Blockchain tech. They will be forced to join the game or be left behind in the dust. The fact that they've announced CBDCs of their own, tells us that crypto has already "won the battle". We'll live in a future where both crypto and Fiat will live alongside each other for many generations. There will be a clash between the decentralized and centralized world. People will ultimately decide which type of currency to use from the other depending on their daily needs. I hope mainstream governments and the crypto ecosystem work together in order to make our world a better place. Just my opinion :)

The rate at which new projects are chuming out on a daily makes it difficult for new users to pick quality projects from fake one. it is difficult for one to separate quality tokens from fake ones. it appears that we might get to a point where crypto will be regulated to reduce the high surge of new worthless projects. from NFTs to Gaming platforms. some has no serious values.

If there will be such a clash then obviously decentralized things will find better success rate compared to regulated and government intervening ones. So, developers will obviously go with decentralization which means there would be big chances for new coins being created in decentralized manner regardless of whatever government prohibition if happens.

Then the simple solution here is, just picking up only reputed coins and tokens. Never bother something new or unproven. Go with what most people have already invested. When we start ignoring new things then we can see scammy devs will stop their attempts.

actually the method is simple, choose a project that has been running for a long time and is proven to have good development, strong fundamentals, one of the characteristics of which is being in the top rankings in cryptocurrency. if you don't have enough experience in analyzing projects then stay away from new projects, unless you really believe in the existence of strong partner support.
the government seems to only be able to prohibit it in terms of business licensing, it can't completely prohibit new projects, because this too can be done secretly or done in other countries with softer crypto-related rules.

And even the regulation they can enforce to this market is very low, after all they can regulate centralized exchanges to try to see how much money you are moving and to see how much profits you are actually getting but what are they going to do once decentralized exchanges become incredibly popular and you can trade with other people without being forced to go through KYC policies?
 
The only thing we need is for another visionary to create a great DEX and then disappear and the financial control they were hoping to achieve will be a thing of the past and the regulations they wanted to pass to regulate this market will be left with nothing to regulate.

Logically speaking, if there is no market to invest into a project there will not development of that project. So this combo is less likely to happen. If you ask me, I know that the governments are fond of startups and they are willing to promote development of new projects and if the governments are willing to regulate trading then it is all for the good, unlike what some people might say.

Regulation is inevitable, it may be difficult but will happen instead of outright banning which again logically is not possible.

We have already seen governments supporting blockchain technology and using it for the services provided by many companies including banks.

Which I agree and which is also why regulation is necessary. Partially the users are also to blame because they feed such things to happen more. But yes a government backed regulation will go a long way too.

Today it is also seen that devs are anonymous, so they don’t necessarily say who they are. Nevertheless, it decreases trust from users.
On the other hand, there are countries where laws are very unstrict, so developers can work from there.
You noticed correctly that authorities were not very happy with crypto, that is why they are trying to replace it with digital state currencies, but it is completely another story.

It is not illegal to write code. Even people who created malware don't go to jail. It is fine to create a new coin but they can stop you from doing an ICO or they could later charge you with offering unregistered securities. New coins are often launched by anonymous teams and once a coin is out there in the wild it is hard to stop it. So far we have seen very little action against cyptocurrency projects even when it is clear they are illegal in certain countries. They might take down a low level scammer every now and then and that's about it.

Yes, it is true, but if we look at the early emergence of crypto/blockchain also experiencing the same thing from the rules issued by the government, but over time this can be passed very well by Crypto/Blockchain, indeed this reason can provide problems for survival crypto world, but I think this will pass by itself.

Actually, what the current government should think is to balance crypto with fiat currency, to walk together in each other's lives, so that no one feels disadvantaged or kills each other, isn't the development of the times, everyone or the government must really prepare.

Then what are the options offered by the government from the ban?

We just can't stop people to write a code or make a things. If any ever project should comply with regulation wouldn't it hinder innovation?

I'm aware of how much copy-pasta project that already exists and the one that pops out every time. But regulating people how to make things is beyond my imagination, it would be devastating. That is my take, though I might be misunderstanding what'd you truly mean about regulation or how the regulation looklike.

well, nothing can stop the government if they take the decision to ban crypto. it's just, I think that they will suppress the development of this technology. however, currently the reason why they haven't accepted 100% cryptocurrency development is due to competition issues with fiat, as well as the problem of rampant scams.

personally, it would be very good if the government accepted this development, and if there is a new token development, developers need government permission. it is also an advantage for new investors so that they are a little more relaxed because when crypto development needs to receive government permission, the government also needs to bear the risk in the authenticity of the project.

besides, for now, there are already many people working under cryptocurrency technology, so when they ban cryptocurrencies, there will be a new problem, namely rampant unemployment and that will also cause losses to their country.

In my view, rather than being banned, it would be better if the government participated in developing and supporting this technology. some countries even do so, and even accept it. in my country, cryptocurrency is allowed as a place of investment, not as a medium of exchange. however, the government warns that they are not responsible for the risks that could occur, because they think that cryptocurrency is an investment with a high risk. however, such warnings are better than banning cryptocurrencies whose negative repercussions can also be felt.

It seems that many governments see Crypto as a threat, but not with blockchain, I read a lot that blockchain provides many advantages in building a financial and administrative system. Many government departments are already using blockchain. But even though cryptocurrencies are considered to be a bit of a nuisance to the financial stability of many countries, they also realize that their use is not something they can control.

Since cryptocurrencies are something new in the government regulatory environment, I think it's only natural that there will be a lot of concern that this will give rise to many criminal loopholes, such as money laundering, terrorist financing, etc. Realizing that they do not fully control it, I think it is natural that many countries then issue regulations on the crypto market and its currency. I don't see that the government will be able to stem the growth of Bitcoin and other cryptocurrencies.

It's difficult to stop people from developing such as there is no law that has stopped people from creating software(this should be were crypto falls) unless its cracked or intellectual property, in reality its impossible because we aren't sure if its for personal use or commercial use.

And besides the government might ban crypto but prohibiting the development of cryptocurrencies needs another law to be applied..
 

Cryptocurrencies are not yet widespread and now only a few types are known by people, but people are currently trying to compete to get them and make crypto more famous like the dollar.
In addition to government approval and since digital money already flows through electronic circuits around the world, governments should also create a new type of central bank digital currency similar to the digital tokens that are now circulating on private networks. Later, the public can transact at the central bank through applications in digital wallets.

As long as the government has no controls us, non of their business to prohibit someone to create a new coin for no reason unless if it was really a need for them to force stop doing it like it starts an economic problem, a tool for scamming, or anything that could create problems. That is why we are not wanting to have the government with us because they sooner to demand control. We need their support as we can't deny that but not a thing that they will let crypto fall into their hands.

The government will not restrict anyone who is talented enough to come up with innovative ideas, but the problem is that here in the cryptocurrency market the developers starts to raise money even without starting the project. You cannot expect that to happen in any other space where you can just start raising money with just your plan and if you like it or not the government will regulate these.

For example BTCitcoin is the biggest invention in the world and yet Satoshi never raised a single dollar but you cannot say that for the rest of the coins or projects in the market. The government will not control innovation but they will control the wild west of raising money and the amount of failed projects even after raising millions of dollars and then not returning the fund even after failing to launch anything should not happen.

The government have very little to no control over what developers can create. Cryptocurrency developers can create new coins at will withouttge knowledge, permission or consent of any government entity and unless the code being developed is a threat to a nation's security i don't see any government having any issue with cryptocurrency development. Its usage can however be limited to an extent by government entities but the cryptocurrency market have proven that its a resilient market driven by the people and it cannot be held back by any government

Governments' efforts against crypto/Blockchain tech will be in vain, especially when decentralized solutions are in play. The only thing they can do is regulate centralized exchanges. Prosecuting developers will only be possible if their identities are exposed to the public. But the same cannot be said about anonymous developers like Satoshi Nakamoto himself. Imagine if developers decide to anonymously launch a new project. It'll be a nightmare for governments and central banks alike.

Crypto is now a force to reckon with, making a full ban largely impossible. Decentralization is what makes crypto resist government interference. If it wasn't by that, it would've been easy to take down the whole industry. New coins will continue to emerge over time because of the decentralized and open source nature of crypto/Blockchain tech. It's something unavoidable so we should learn to live with them for a long time. Just my thoughts ;D

The capabilities of states and their bodies should not be underestimated. They have a lot of opportunities to influence the development, state and future of decentralized cryptocurrency. In recent years, cryptocurrency has been developing rapidly and the number of its supporters is growing. The positions of high-ranking officials in our civilized society are, as a rule, elective. They have to take into account their rating and take actions that would not allow it to fall if they want to continue to remain in power. If the cryptocurrency finds strong support in the community, such officials will not act against the wishes of the public. Apparently, this is already deterring government agencies from taking radical measures against the cryptocurrency. In addition, it cannot be said that cryptocurrency is unprofitable for officials of different ranks. After all, they are also people with the same weaknesses and also do not mind hiding part of their unreported profit in cryptocurrency.
Therefore, the cryptocurrency has a chance to gain a foothold in this society, despite their conflicting influence on society and the elite that governs it. The regulation of cryptocurrency will increase, but I don't think it will come to drastic measures.

If we talk about a single country, then of course you can arrange total control over the cryptocurrency. They may prohibit the use of cryptocurrency altogether, and not a single token. And on a global scale, it seems to me that it doesn't even make sense to talk about it.

I don’t see that to be true. They don’t see cryptocurrency the way you think they see it. Yes, there are some governments that sees cryptocurrency as a very bad thing and they always look for ways to stop people from making use of it, and they go to the extent of banning cryptocurrency mining facilities, and cryptocurrency exchanges to make it hard for those that would want to make use of cryptocurrency. And they will also close your bank account when they trace that your transaction has to do with crypto.

But that aside, there are many of them that view cryptocurrency as a big industry/business opportunity that’s yet to be explored, so they allow them to keep growing. It’s just like Coinbase has grown to be a big company in the United States to the extent debuting on Nasdaq list. So, I don’t think the government in most countries will try to stop developers.

Thought I can see a few problems (scam, pyramid and ponzi scheme,..) in crypto that could be solved if the government wants to ban on creating new crypto or need some sort of regular for it. The trade doesn't not worth and will restrict how the crypto market work, stagnant it. I still think eventually we'll have some rules and such on crypto and especially new cryto.

In some countries this is regulated, especially when it involves many people in funding, the government always has many sides to be able to find loopholes to enter, on the grounds of protecting citizens from fraud, and always will be, on behalf of the citizens.

Indeed, they are not easy to control, but very easy to detect, and they always have a way of trying to control.

No bro, you are getting it wrong. If you regulate the system the problem of money grabbing second hand scum projects will reduce. Sure the government might want some developers making projects in tune to their needs but that is better than ton of scam projects ruining the name of crypto all over the globe.

It will be for the good only. You have to understand that every government wants its users to innovate and develop new things, that is how the countries are able to grow and that is how the government pitches itself in front of the world stage in order to make a name there. It is a part of the democratic politics, you will understand if you look at it from a broader perspective.

And it does not mean forcing people to do something - that is not democracy. Rather it is make sure that project that have no value are keep weeded out from the mainstream. Of course this leads to scam projects going for niche populations who dont follow this, but very soon they also understand whom to trust and they shun such projects too. You can compare this with the scams that run in a country's underbelly while the legit projects only run in the light.

Absolute nonsense, creating crypto coins is as easy as ABC through few decentralized platforms how will government control this part? Every decentralized coins are very difficult to control.... Someone please say something about this?

Care to elaborate on what you mean by regulating the system? you also said government-backed regulation on the prior posts, what do you mean by it? I think we didn't quite connect about that.

My take is, I do agree regulation is inevitable for cryptocurrencies spaces. But regulation comes in handy when it is used/needed as a by-product of the cryptocurrency project, whether it is a solid project or a worthless project.

I think we should making barriers to entry to create cryptocurrencies project is low enough. It will make the market crowded therefore only the most potential project comes out at the top, and also it might be some kind of innovation-ideas for others to be able to make better things. On the other hand, Of course, there will be someone who gets lured by shitcoins and scammers since that kind of project is keep popping out, but I do think the good outweighs the bad.

Weeded out from the mainstream because of regulating it? I mean we already seeing it now even without regulating it, the only cryptocurrencies project that stays at the top are the one that is more useful.

Yes, I entirely agree with your words this can happen some countries can prohibit the developers from creating a new coin to stop the further development of the market. Even if we want to continue with crypto at some point I feel we will be forced to do KYC to trade on the exchanges even in my country operated exchanges to withdraw first I have to pass the KYC before withdrawal in my native fiat currency So govt has access all the data of the crypto users who registered with the exchange so we can not stop this If our county impose some regulatory rules we have no choice to follow. So I think many countries will ask the same in future and we should prepare they will try to control it according to their rules and regulations.

Possible responses to the further spread of decentralized cryptocurrency by states and their governments will depend on how strongly they see it as a threat to the existence of their global financial stability. To protect it, states can resort to any adequate measures.
The creation of a cryptocurrency can be classified as a kind of business, and as a general rule, any person can engage in any type of business, with the exception of those in respect of which there is a special prohibition by law. In theory, states can prohibit their citizens from engaging in any kind of business. Of particular importance is the fact that states cannot control the very fact of creating a new cryptocurrency. They can control its further circulation, and therefore react to its illegal appearance.

That's certainly true, mate. Governments can come up with any tactic in order to stifle the growth of crypto/Blockchain tech. After all, they don't want to lose control over people's lives. Fiat is what makes the world go round, so we should expect more opposition from mainstream banks and governments in the future.

All in all, I don't think governments will be able to stop developers from creating a new coin, since everything is open sourced. But they can try to hunt for a developer's identity in order to hold him/her accountable for his/her actions. Centralized exchanges might restrict developers from listing a new coin if they don't comply with KYC. This will force developers to list their coin on a decentralized exchange at a cost of reduced liquidity and public exposure. As long as crypto/Blockchain tech remains decentralized and censorship-resistant, there should be nothing to worry about. Just my thoughts ;D

I don't think that governments will ever prohibit new cryptocurrencies from being developed. I don't see cryptocurrencies as a threat for fiat currencies. They have completely different systems and their goals are also different for people. Rather than these cryptocurrencies, the biggest threat for fiat currencies will be the digital currencies which are developed by governments. Because in the future, they will start replacing fiat currencies one by one.

You may say that it was not a threat for fiat but unfortunately, and from the government's insights this is a big threat for them. The biggest concern is to have control over crypto which was impossible and creating their own digital currency is their way to combat the spread of crypto.

The government couldn't prohibit the creation of crypto but it was the SEC to find a way on how to stop their project. Many issues had rise concerning these and many crypto projects have been also dissolved with their actions.

Knowing that coins being created in the crypto space are decentralized mostly I dont think that the government can do such thing like prohibitions. Even the regulators is having a rough time dealing with cryptos no wonder government cant do it also without any laws.

I think it will be very difficult for the government to be successful in banning cryptocurrencies. Cryptocurrencies itself has unstoppable nature. The decentralized nature of cryptocurrency underlying technology will make this extremely difficult. There are some countries of the world which their government has placed ban in exchanging cryptocurrencies for fiat. One among is Nigeria where Banks that exchange crypto for fiat for their clients will face the law. Despite these measures taken to prevent crypto , users still find their way to trade it mostly through P2P which is unstoppable and recently a survey conducted by Binance revealed Nigerians transact the highest volume of Cryptocurrencies in their platform. There are lots of project that are legit but anonymous team .A sincere developer can create a coin without revealing their identity and of course achieve success . A good example is Satoshi Nakamato ,the founder of Bitcoin whose identity still remain anonymous. Cryptocurrency has come to stay and no government will be able to stop it .

- Well, asmall peninsula like crypto can't yet threaten large swathes of land like government and fiat but if we want to go with the natural, ignoring the development of crypto is impossible for the government because the minerals in this small peninsula are mined by many people and this behavior is not safe, people here sometimes bring some pain and spread to others in the community. The developer is a place to experiment and create new minerals, the experiment will have consequences on users is what the government is worried about

in fact, now that cryptocurrencies are becoming more and more famous and valuable, the various states governments banks are trying to stem, limit decentralization in order not to lose gains and control, luckily no one will ever be able to prevent the creation of new virtual coins to anyone who wants create its own currency

there are nothing tracing opportunities for any government, what we did likes creating new coins. a lot of developers working to implement blockchain projects in different marketplaces but crypto still not legalize in my country.

how can government prohibit to creating new coins?  
even crypto is anonymous also.

If government really made regulation up to the coin itself, i think it will means crypto is not decentralized anymore. Because it can really disrupt crypto community itself and would make not really much variation in altcoin. It is depends on us to pick which altcoin that we think profitable for us, and in crypto itself already tell people to pick investment with analysis and research because risk is all on ourself.

These kind of thoughts just keep coming that government will ban or do that but it is not going to happen in reality. Yes there are no threat to fiat. Both are completely different things and cannot be compared.

In my opinion, forbidding developers to no longer issue crypto/coins is not a solution, bro, in fact it will be troublesome for the government itself, because cryptocurence is a platform that is driven by blockchain technology, so it is not easy to stop it or prohibit it.
 However, what is needed is how the government makes regulations and laws regarding cryptocurrencies.

The mere fact that cryptocurrency is a decentralized platform it only means that the government has nothing to do to interfere to digital currency. I think the thing that a government could do is to prohibit their people form engaging in digital currency because for sure the main reason why they did it its because the government has no power to control it and by prohibiting cryptocurrency in the country but I don't think so it could really affect the crypto market. Cryptocurrency is really a big help to everyone especially at this time of pandemic and this could be a great help in the economy of a certain country.

Prohibit? No.

That's not the job of the government, if they accept crypto, all they can do is regulate the market, and that's very important to protect investors from the developers that are main intention is to scam people. Though we have a lot of projects already existing in the market, few of them really have the potential or are run by a serious team thinking of future success, so a more regulated market, will result in more quality projects.

i do not see government can be threat to develop in new coins, if the government wants to stopped, does it have the control in crypto development? nothing. government cannot interfere in crypto improvement.

Some countries are already banning trading Cryptocurrency this is not new but their number is decreasing, governments that ban Cryptocurrency will likely ban Crypto creation but we have a large number of countries that allow trading and creation of coins, so we will not lack developers and projects in the Cryptosphere, we cannot stop governments from banning Cryptocurrency I just pity them because they do not know what they are missing.

Financial freedom is always present in cryptocurrencies so that's what makes everyone love the crypto space until now, even though there are some people who are trying to stop cryptocurrency through several regulations from certain countries, even though cryptocurrencies have never interfered with the state system.

The launching or development of different cryptocurrencies can be seen as the development of new innovative projects or technologies capable of shaping the future, this is true because Bitcoin and Ethereum started in such way and today, they are already shaping the crypto space as well as the entire world, so in simple words, No, the government won't prohibit developers from creating new coins.
Also, taking a look at what El Salvador country is doing or the step they are taking, it is becoming clear that crypto has come to stay, and where any country becomes hostile towards crypto and their developers, they can find their ways into other countries with friendly crypto regulations. Sooner than later, banks and other organizations will start looking for ways to tap into what crypto offers so as to serve their users well.

Many wants freedom and not being monitored or control by the government especially when it comes to taxes. Creating new coins can't be stop by anyone however there should be some control in coins that are keep on coming since they become redundant or useless. The more the coins appear the more the chance scammers will get victims. If there will be a agency or simply a viting poll site  to control the coins or limit it depending on their usefulness, potential or credibility we will be able to see which coin will be better for us. But then, this how crypto being decentralized works.

They can't really stop projects from happening, what they can do however is at the harshest of ways, jail people who create a project. However once a project is out, then nobody could stop it, look where satoshinakomoto is, nowhere but bitcoin is still around. Unfortunately in today's day and age there are many investors who are expecting project creators to keep on improving and developing and marketing the project so that investors could make money, which is incredibly wrong.

I believe a proper project is something that you do, release to the world, and then you just back off. If the owners are required to keep on working on it, then it is not decentralized and it is wrong. ADA requires constant development that will make smart contracts great, well does that mean if the owner of the project dies tomorrow, ADA is over? I do not want to invest into anything that has that possibility.