Any chance for USA to ban bitcoin?

[Dudeperfect]

Well, it's not about any particular country but since Bitcoin is based on technology which relies on the power of decentralization it is something that takes away power from the traditional controlling authorities and hence they will definitely try to put maximum impositions on the same. However, as we all know governments cannot stop anyone from using Bitcoin but they can put a ban in a sense that converting Bitcoin to fiat currency and vice versa.

At this point, I do see governments are in the wait and watch mode and they are still in the process of doing research and framing the rules and regulations for the same. Considering the current political situation in the USA I am not expecting any surprising news from the government in the sector (however I am keeping the eye on other sectors closely suggest foreign policy).

[1714279966]

1714279966

[Dapper]

It's simple logic.   Who is bitcoin a threat to?  It's a threat to the current establishment: the major banking and credit card companies, many of which are American companies with huge political clout.   Politicians typically don't look to the greater good when their pockets are being lined by big banking, Visa, Mastercard, etc.

[bigdude]

Every country are starting to ban. What if USA ban? how will it go?

You start the thread like the FUDers. Many countries now accept bitcoin and blockchain vast adoption such as Estonia, Sing, Korea, Japan, Aussie...
With USA i don't see any points that they will ban bitcoin as a member of SEC said no bitcoin no blockchain.
That's only some country banned it not mean all other will follow

[jonaire99]

Every country are starting to ban. What if USA ban? how will it go?

It is unlikely that United States will ban bitcoin or other cryptocurrencies. The US Commodity Futures Trading Commission has already classified bitcoin as a commodity and is taxed by Internal Revenue Service as a property.
Although it is been under attack by some large US banks particularly the Bank of America for being a threat to their business, there is no way they can totally enforce a ban in the use of bitcoin. Cryptocurrency is a great idea for earning a profit and you can't stop an idea whose has time come.

[Dapper]

They will likely try, but thinking a few steps ahead, how would they possibly enforce that?

Americans with large bitcoin holdings would keep their bitcoin in overseas wallets and exchanges.   Then, at that point, what you report is essentially on the 'honor system.'    Good luck with that.

[The Demon Slick]

Ban it? No. Regulate it, tax it? Yeah, that's them.
First spread fud about it, as if it were any more risky than trading government approved btc futures and etfs.
Then step in to regulate it, for your own good of course.
Then comes the taxman.

[websoftwareengineer]

Every country are starting to ban. What if USA ban? how will it go?

bitcoins will be always available on other countries so there's no way that banning of bitcoins will affect the entire market because china has already ban ico's in their country but still bitcoins managed to reach 19k dollar before 2017 ends.

[matthewtherry]

Not every country. I think in maximum 1 year countries will have to accept bitcoin again since it is developing so fast and people are into it

[alyssa85]

As soon as Silicon Valley started to get excited about cryptocurrency in 2013, and plowed money into start-ups like Coinbase, Bitpay and others, it was clear that the US govt would not ban crypto.

Silicon Valley has a very powerful lobby and they hate the idea of being blocked from future tech. What's more, since the financial crisis, the Silicon Valley lobby has been way stronger than the Wall Street lobby.

[papashark]

USA cannot ban Bitcoin, as crypto currency is their last chance to save their fiat. One more thing many from their government officials, celebrities, and prominent millionaire investors are heavily invested in crypto currency. They can cast FUD to make the price drop buy they will not ban it or their loss.

[joebrook]

They will likely try, but thinking a few steps ahead, how would they possibly enforce that?

Americans with large bitcoin holdings would keep their bitcoin in overseas wallets and exchanges.   Then, at that point, what you report is essentially on the 'honor system.'    Good luck with that.

At the moment the USA are more interested in regulating the use of bitcoin rather than banning it if they later feel that its ways out of control and it's been used to much to evade taxes or even sponsor terrorism, then they will have no choice but to ban.

[dotz5]

I agree some countries are starting to ban bitcoins but i don't think US will do that as they always like to be different from others. They might have new tighten regulations instead of banning bitcoins.

[zentdex]

I believe US won't do that, if they will ban bitcoin they should have banned it long time ago and due to the recent senator meeting several weeks ago, it even resulted in positive view. US sees that if other countries ban bitcoin, it has a huge potential that those people will conduct business in the US and potentially contribute to the GDP. And if they have intention to ban it, the CME and CBOE have not introduce the bitcoin futures to their market.  

[zelenkova]

The US will move forward in terms of bitcoin and will not forbid its people to use the Internet currency. The USA as the fastest growing country in this plan will develop in this.

[CONOFLEX]

I dont think the USA will  ban bitcoin because if the other countries approved it like the big countries  like Canada,Australia  then their wealth will increase in the global market and the USA is one of the financial leading countries off the world.

[vv181]

The US government are getting stricter with cryptocurrencies, especially all the US-based exchanges are required to do a personal identification. I'm sure its because the US government want to have more power and control over the decentralized cryptocurrency, I believe if the US cryptocurrency user is getting bigger, the taxation will benefit government a lot and will make the government being pleasured.

[aleksej.rozhkov]

In the US, use bitcoin is becoming popular and it is gaining momentum. Purchase of property payment for online purchases. All soon they will be bought exactly bitcoin think.

[sergeykravcov177]

In the US it seems to me that the bitcoin will never be banned. He only develops them and was accepted by the government on the basis of what they understood as convenient and how much progress in the future it can bear.

[prabhu]

In the United States, the Securities and Exchange Commission and some state governments have made moves to regulate the trading of cryptocurrencies. Former SEC Chairman Harvey Pitt told CNBC last month that the commission was likely to make major regulatory changes to cryptocurrencies in 2018. 

[dificanovi]

if USA prohibits bitcoin the possibility of bitcoin prices will decrease as investors will decrease, but I see there is no reason USA banned bitcoin because so far bitcoin never interfere USA, but bitcoin even give benefit for USA society.