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jonemil24
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March 26, 2018, 08:33:36 PM
 #1

If the government still doesn't know how to put down all cryptocurrencies(or maybe they're still figuring how to tax users), why wouldn't they create an exchange and get some profit from it?

We know how B.S some exchanges are, they needed KYC but in the end, you won't be able to withdraw your funds.

Instead of spreading FUD, I hope government from all over the world knows that running an exchange can add funds for their country, and their pockets! Grin

I know it will be making cryptos centralized but look at those exchanges asking for our pretty faces and names just for their KYC/AML purposes.

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carter34
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March 26, 2018, 08:38:54 PM
 #2

Yes , this will give them a kind of confidence in the system. In fact, not really owing an exchange house but to support the existing exchanges like what the government of India is doing in zebpay by putting an eye on them.

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March 26, 2018, 08:54:54 PM
 #3

Governments doesn't have to make exchanges them selves, other companies will do that and government will just tax them. I guess they would rather control crypto, but with decentralized system like this they don't know how to approach it, at least not yet. They see potential and that is why they are so interested in it, also they see profit. Profit from crypto could benefit any country, and that is why crypto will live long life. Time of regulations are on our doorstep, its just a matter of time when it will enter our lives. Also, you should no that there is no way of centralizing something that is decentralized in its core.
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March 26, 2018, 09:03:51 PM
 #4

Governments doesn't have to make exchanges them selves, other companies will do that and government will just tax them. I guess they would rather control crypto, but with decentralized system like this they don't know how to approach it, at least not yet. They see potential and that is why they are so interested in it, also they see profit. Profit from crypto could benefit any country, and that is why crypto will live long life. Time of regulations are on our doorstep, its just a matter of time when it will enter our lives. Also, you should no that there is no way of centralizing something that is decentralized in its core.
and right. here the government only needs to control every exchange that exists by imposing taxes on a standing company, with which the state will mengantogi 5-15% of the income they get,, with it any state would have gained a considerable profit .. this is one of the advantages that can certainly be obtained by the state of bitcoin growth
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March 26, 2018, 09:06:23 PM
 #5

If the government still doesn't know how to put down all cryptocurrencies(or maybe they're still figuring how to tax users), why wouldn't they create an exchange and get some profit from it?

We know how B.S some exchanges are, they needed KYC but in the end, you won't be able to withdraw your funds.

Instead of spreading FUD, I hope government from all over the world knows that running an exchange can add funds for their country, and their pockets! Grin

I know it will be making cryptos centralized but look at those exchanges asking for our pretty faces and names just for their KYC/AML purposes.

I don't know for your country, but in my country government find the way to make a profit from cryptocurrencies. They enforced a tax! :)Every time you withdraw money from cryptocurrencies to your account they tax you and make a profit from nothing.... Cheesy

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March 26, 2018, 09:06:35 PM
 #6

If the government still doesn't know how to put down all cryptocurrencies(or maybe they're still figuring how to tax users), why wouldn't they create an exchange and get some profit from it?

We know how B.S some exchanges are, they needed KYC but in the end, you won't be able to withdraw your funds.

Instead of spreading FUD, I hope government from all over the world knows that running an exchange can add funds for their country, and their pockets! Grin

I know it will be making cryptos centralized but look at those exchanges asking for our pretty faces and names just for their KYC/AML purposes.

Governments are likely very cautious about cryptocurrencies due to the anonymous aspect of it. There have been claims of ties between bitcoin and terrorist groups, so just by that piece of information alone, it seems like governments will and should be a little more cautious when they think about supporting an anonymous currency. This could easily affect alliances between countries as well.

I do see the profit idea though, and I think that's why there are so many current exchanges. All of them reap the profits. If governments did support exchanges and crypto, it might be easier for people to evade taxes and whatnot as well.

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March 26, 2018, 09:20:39 PM
 #7

If the government still doesn't know how to put down all cryptocurrencies(or maybe they're still figuring how to tax users), why wouldn't they create an exchange and get some profit from it?

We know how B.S some exchanges are, they needed KYC but in the end, you won't be able to withdraw your funds.

Instead of spreading FUD, I hope government from all over the world knows that running an exchange can add funds for their country, and their pockets! Grin

I know it will be making cryptos centralized but look at those exchanges asking for our pretty faces and names just for their KYC/AML purposes.

For me, kyc are just for formality for the certifications an ico had to comply. I don't give a damn on those kyc because it is also for the protection of the ico from the scammers. Though tracing their customers is hard but at least they will have a hint on where one who they are.

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March 26, 2018, 09:31:24 PM
 #8

If the government still doesn't know how to put down all cryptocurrencies(or maybe they're still figuring how to tax users), why wouldn't they create an exchange and get some profit from it?

We know how B.S some exchanges are, they needed KYC but in the end, you won't be able to withdraw your funds.

Instead of spreading FUD, I hope government from all over the world knows that running an exchange can add funds for their country, and their pockets! Grin

I know it will be making cryptos centralized but look at those exchanges asking for our pretty faces and names just for their KYC/AML purposes.

Governments are likely very cautious about cryptocurrencies due to the anonymous aspect of it. There have been claims of ties between bitcoin and terrorist groups, so just by that piece of information alone, it seems like governments will and should be a little more cautious when they think about supporting an anonymous currency. This could easily affect alliances between countries as well.

I do see the profit idea though, and I think that's why there are so many current exchanges. All of them reap the profits. If governments did support exchanges and crypto, it might be easier for people to evade taxes and whatnot as well.

Govt is taking all precautionary steps to centralize the Bitcoin and cryptocurrency so that they can control it and stop illegal use of Bitcoin. Govt never support a decentralize anonymously currency but they are not banning it as it may become official currency for illegal purposes like drugs trading, tax evasion, money laundering, terrorism etc because of its anonymous payment nature.
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March 26, 2018, 10:04:29 PM
 #9

If the government still doesn't know how to put down all cryptocurrencies(or maybe they're still figuring how to tax users), why wouldn't they create an exchange and get some profit from it?

The government should think more advanced as op said or perhaps they have been eaten by their own words or pretend to be stupid. Eventually, they feel it has more prestige to adopt crypto to be made as one of the tools for creating economic growth.

Instead of spreading FUD, I hope government from all over the world knows that running an exchange can add funds for their country, and their pockets! Grin

True as you say, I personally have a certain suspicion towards that they are one of the actors behind the tragedy of the decline that has occurred. In addition to spreading FUD, they have also been manipulating the price of crypto as has happened lately.

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March 26, 2018, 10:25:41 PM
 #10

Govt is taking all precautionary steps to centralize the Bitcoin and cryptocurrency so that they can control it and stop illegal use of Bitcoin.

Governments will never be able to 'centralize' or control Bitcoin, that's something people should stop worrying about. The only thing governments can do, and that's already happening, is control the centralized part of our ecosystem. Most noticeable change is how exchanges more and more have to force people to fully verify themselves in order to make use of that platform. I wouldn't even be surprised if exchanges at some point will be forced to submit user information to the tax authority of each country they are registered in. It's not for nothing that the local markets have started to boom at the same time exchanges were subject to KYC/AML policies -- people aren't cool with that. Personal information on third party servers can get comprised and abused, which is the main concern for people. I haven't seen ANY exchange explain how data gets stored and encrypted, who has access to this information, etc....
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March 26, 2018, 10:36:07 PM
 #11

Even if the government creates an exchange, I would be very wary of helping it: who can know what he will invent in the future?
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March 26, 2018, 10:50:41 PM
 #12

I don't know for your country, but in my country government find the way to make a profit from cryptocurrencies. They enforced a tax! :)Every time you withdraw money from cryptocurrencies to your account they tax you and make a profit from nothing.... Cheesy

How lucky are you, son. Your government's way of thinking very advanced levels are apparently, I believe your country will progress and be a prosperous one. If having such a government, for me the imposition of the tax is not a problem. The most important is the status of cryptocurrency in your country to be legal, safe and comfortable.

douhancan58
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March 26, 2018, 10:52:27 PM
 #13

The profits from digital encryption have attracted the attention of the government, and many governments are starting to levy taxes on digital encryption.

They don't create exchanges because they have to issue their own paper money!
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March 26, 2018, 10:52:36 PM
 #14

An exchange managed by the government would solve many things, but the concept of freedom and anonymity of bitcoins would be completely lost. I do not like.
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March 26, 2018, 10:53:28 PM
 #15

If the government still doesn't know how to put down all cryptocurrencies(or maybe they're still figuring how to tax users), why wouldn't they create an exchange and get some profit from it?
I don't think the government makes an exchange is an efficient solution, I believe there is a better way to track their people for taxing.


I know it will be making cryptos centralized but look at those exchanges asking for our pretty faces and names just for their KYC/AML purposes.
which is a contradiction with the nature of cryptocurrency who is the user is seeking and aiming for anonymity and privacy. So, Its really a bad idea.

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March 26, 2018, 11:30:03 PM
 #16

In some way, this wouldn't be benefiting, because most times anything that get involve with the government needs up with greed. Apart from regulations, I don't think government have anything to contribute. And besides if this ever happens; most people will not patronize these exchanges because they will feel that they are been monitored by their government.
Sir Cross
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March 26, 2018, 11:30:29 PM
 #17

If the government still doesn't know how to put down all cryptocurrencies(or maybe they're still figuring how to tax users), why wouldn't they create an exchange and get some profit from it?

We know how B.S some exchanges are, they needed KYC but in the end, you won't be able to withdraw your funds.

Instead of spreading FUD, I hope government from all over the world knows that running an exchange can add funds for their country, and their pockets! Grin

I know it will be making cryptos centralized but look at those exchanges asking for our pretty faces and names just for their KYC/AML purposes.

Governments are likely very cautious about cryptocurrencies due to the anonymous aspect of it. There have been claims of ties between bitcoin and terrorist groups, so just by that piece of information alone, it seems like governments will and should be a little more cautious when they think about supporting an anonymous currency. This could easily affect alliances between countries as well.

I do see the profit idea though, and I think that's why there are so many current exchanges. All of them reap the profits. If governments did support exchanges and crypto, it might be easier for people to evade taxes and whatnot as well.

Govt is taking all precautionary steps to centralize the Bitcoin and cryptocurrency so that they can control it and stop illegal use of Bitcoin. Govt never support a decentralize anonymously currency but they are not banning it as it may become official currency for illegal purposes like drugs trading, tax evasion, money laundering, terrorism etc because of its anonymous payment nature.

But wouldn't they be able to regulate cryptocurrency better if they ran an exchange themselves? They'll be able to keep track of the transactions to check out whether there is money laundering or other illegal activity done through the use of bitcoin or other cryptos. There is a risk in it since bitcoin is anonymous and decentralizes, so they have no total control over it and they may be held accountable. If a government regulated exchange is created, people may feel more 'secure' and safe using it since it won't be illegal.

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March 27, 2018, 12:33:27 AM
 #18

It is true that the government makes overall arrangements and follows the right rules and paths for me to succeed in the future, not only in controlling exchanges but all related to cryptocurrency, where of course a few percent will go into the coffers of state income . add to every year where tens of thousands of people use cryptocurrency, this potential cryptocurrency should be the current state of the conversation.

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March 27, 2018, 01:00:57 AM
 #19

Despite the good intentions of developers, exchanges and blockchain engineers, there are concerns about the illegal use of cryptocurrency.

Many years have passed since the silk road and many black markets closed, but state leaders have raised concerns about the illegal use of virtual currencies.

Global government agencies have shown a willingness to continue or begin to regulate cryptocurrency.
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March 27, 2018, 01:18:12 AM
 #20

If the government still doesn't know how to put down all cryptocurrencies(or maybe they're still figuring how to tax users), why wouldn't they create an exchange and get some profit from it?

We know how B.S some exchanges are, they needed KYC but in the end, you won't be able to withdraw your funds.

Instead of spreading FUD, I hope government from all over the world knows that running an exchange can add funds for their country, and their pockets! Grin

I know it will be making cryptos centralized but look at those exchanges asking for our pretty faces and names just for their KYC/AML purposes.
yes, perhaps by making government-managed exchanges a solution to policy on crypto for now. because for now the government has not found the right way to make crypto currency as a financial asset with a centralized banking system and perhaps from some of the advice you mentioned can be an alternative for the government to give more policy on the crypto currency system and of course there will be benefits to be gained by the government.





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