Do u think that the body governing need to re-strategize ?

[CryptopreneurBrainboss]

It is no longer news that cryptocurrency is not supported/accepted by governments of all countries. I want to believe that the body regulating these coins needs to re-strategize for better acceptance. I will like to have your views.

Correction, most countries and not all countries because we have some countries that are showing positive interest towards its adoption and about two has already adopted it. In regards to your question, are you talking about the government or the projects themselves? If you're referring to the government, their stand has already been voiced out a very long time ago when they started attacking the industry and made it look like a scam as they sabotage its growths but after all their attacks still the industry is doing just fine without their acceptance and soon they'll be the ones crawling back because the potential of the industry.

Only the countries that'll profit are those showing Bitcoin (and indirectly the general market) some love like El Salvador. Whenever any positive news comes out of El Salvador, it helps the entire market and not just Bitcoin especially when the sentiment of the market is already bullish. With time the government of the countries still fighting Bitcoin will realized what they're missing. Bitcoin adoption is imminent, it's just a matter of time before it explodes as the internet did in the late 1990's, we just have to wait and watch.

[Darker45]

I think it's wrong to say that cryptocurrency is not supported or accepted by governments of all countries. There are at least a couple of countries already that recognize Bitcoin as legal tender. And although the rest don't go that far, cryptocurrency is actually accepted by probably the majority, at least by implication. Meaning, crypto isn't illegal or banned. Even in countries where crypto is not yet strictly regulated or even classified, people can buy, sell, and spend crypto.

Even in my country where Bitcoin isn't recognized as a currency by the government, it is legal and you can actually pay for goods and services with Bitcoin. 

[Baoo]

To be honest, El Salvador is the best example for recognizing Bitcoin as a legal coin , it has been affected positively on their economic since 2019 but not significantly due BTC has decreased more than %50 since 2021. From my perspective, El Salvador economic will grow strongly in next 1-2 years specifically after BTC halving event. In addition to that, I highly doubt if powerful governments and banks are not indirectly supporting Bitcoin. They certainly invested large funds in it but in secret and other cryptocurrencies such as Ethereum. Plus, they might have the ability to control the price that’s why the market is being extremely volatile. Hopefully, more countries will follow El Salvador and recognize the best coin as a legal tender.

[Saisher]

It is no longer news that cryptocurrency is not supported/accepted by governments of all countries. I want to believe that the body regulating these coins needs to re-strategize for better acceptance. I will like to have your views.

It's a case-to-case basis now, some countries will still try to restrict it, and some countries will regulate but so far majorities of countries are now adopting it.
The government cannot stop the advancement of Cryptocurrency because it is very well-suited to our generation and can easily be integrated into many industries, the money remittance industry is just one of the many industries that fully adopted and benefited from their adoption, some government is restricting it now but no government is permanent in nature, once there is a change of government in one country that restrict Cryptocurrency there's a possibility of adoption for the next government.

[merekamo]

It's like you are saying that every country needs to accept bitcoin like its one of their legal tender which is really not possible in any timeline of its existence. Well, maybe but i still doubt it will happen. If you are talking about implementing CBDC then its possible as China started it already.

Each country has a different monetary policy towards crypto. Varying levels of acceptance and support for cryptocurrency by different governments can be attributed to several factors. I do agree with you that the implementation of Central Bank Digital Currencies (CBDCs) is a more plausible scenario. As you mentioned, China has already started working on its digital Yuan, and other countries are also exploring the idea of creating their own digital currencies. CBDCs would allow governments to maintain control over their currencies while taking advantage of the benefits that digital currencies offer, such as faster transactions and reduced costs.