Government Exchanges

[inanilujimi]

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!

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.

I think not only the government that will have a positive impact but also its citizens, because I think the tax on the results of the crypto world is big enough and can advance a nation.

[Ashimwe]

I would never use a government exchange directly , that's like risking your money because a single made mistake could to your accounts in a freeze mode and they would track you and tax you as they, would never recommenced or use one myself

[Beerwizzard]

I would never use a government exchange directly , that's like risking your money because a single made mistake could to your accounts in a freeze mode and they would track you and tax you as they, would never recommenced or use one myself

I would like to tell you a secret. Government will already have an access to all your transaction details. The exchange will easily provide it on demand. At this point you are not losing anything.
The only good usage for gov exchanges that I see is that they may easily create a strong fiat pairs. Traders won't have to use all those stablecoins that are supposed to fail by design. But ofc it depends on the country. Nigerian gov exchange still won't be trustworthy. As I remember Switzerland was going to create something like that.

[krauzzer02]

Some countries already implemented such regulation to tax every transaction from local exchanges they can't tax wallets that you own the private keys as it defeats the very purpose of bitcoin, mostly the one that they taxed is the cash-out option based on my experience, it is already indicated on your request whenever you do a cash-out option plus the middlemen fees to receive the physical converted fiat, some Governments will not even miss the chance to earn from cryptocurrency by taxing them though some of the countries already studying how the hell they are going to tax them.

[Ctn]

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!

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 understand what you want say here but things doesn't work like that. If government wanted to have some share of profit then they could have made the changes already. However, in the long run they know that people's choice is what matters a lot when we consider about the decentralised blockchain. I mean government will not be able to implement any changes if people start recognising that government secretly launching their own exchangers and pulling the investment of their people to profit themselves. Its like creating the public services for the people but its not always possible for government to deal with the all public services and when its decentralised then they could end up in bad way. They have tax as option to get most out of the crypto currency investment. Thats my thought on this.

[Thamon]

government recently declared Bitcoin and other cryptocurrencies illegal tender within its borders which has since seen crypto exchanges all over the country scrambling to create a plan of action.

[kaya11]

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!

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.

In certain countries it's not possible, like some part of the Saudi Arabian Peninsula (not UAE because they are different), because they have a chieftain their that prohibits them from engaging in crypto investments. The fact they can give a huge impact in the market capitalization because their country is very rich.

[justin86]

This is something not possible even governments want it because there is decentralized exchange models that are directly between two party, and shapshift etc.

[bittraffic]

I think governments area already in the process of collecting taxes from crypto traders and we may see a different approach. If you try to look which coin is closely related to banks like XRP, this is where the government are going to implement their system to tax us. Banks are also working with governments of course which banks are also working with XRP.

government recently declared Bitcoin and other cryptocurrencies illegal tender within its borders which has since seen crypto exchanges all over the country scrambling to create a plan of action.

They did? G20 didn't say that as far as what's been said they consider BTC as asset.

[btccrusher]

If governments do this, that means government approved cryptocurrencies, which has a very bad impact on the government's view. In most countries, the government don't want to lose control over money. Still, fiat is the only option a Govt. can control and maintain. Think about the taxes not an exchange fees.

[btc-facebook]

Every government have their different opinion.
My government decide to forbid bitcoin because it can be use for criminal attempt and cause inflation. So although apply tax for bitcoin transaction will generate revenue doesn't mean my government want to earn " profit " because the real government work for people not for profit !

[chaoscoinz]

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!

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 think a government exchange would convince a lot of crypto curious people to begin adopting cryptocurrencies.
Even if it's heavily regulated, at least you know there's a strong chance that you will get your money back stored in your exchange's account. The more government aidded exchanges, means the less scams you have to worry about.
  This may raise an interesting debate, as many will be against any type of centralized authority.

[rizkyhiw]

Every government have their different opinion.
My government decide to forbid bitcoin because it can be use for criminal attempt and cause inflation. So although apply tax for bitcoin transaction will generate revenue doesn't mean my government want to earn " profit " because the real government work for people not for profit !

To anticipate the transparency of transaction crime is indispensable nowadays where many criminals use bitcoin as money laundering or terrorism financing, it is important to control every transaction so bitcoin is acceptable to the government, it is one of the government's concerns over crime in the name of rampant bitcoin.

[Edraket31]

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!

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 think a government exchange would convince a lot of crypto curious people to begin adopting cryptocurrencies.
Even if it's heavily regulated, at least you know there's a strong chance that you will get your money back stored in your exchange's account. The more government aidded exchanges, means the less scams you have to worry about.
  This may raise an interesting debate, as many will be against any type of centralized authority.

Yes you are right, it will really convince a lot of people as they will prefer to to see the truth in the government than in some people since a lot of people are also afraid to take risk, which we cannot blame them as there are lot out there who will do everything just for them to fool people.

[AbyssLagiaz]

Cryptos aren't that really "fully-trusted" by the government. Nobody really knows what they're planning about it right now. Bans could still happen and we shouldn't feel really safe right now. Japan has become stable already in their full utilization in cryptocurrency and I believe taxes are now being imposed there. Until a law code regarding cryptocurrency are established, then we still shouldn't still feel safe in our utilization of crypto coins, like scams in investment or ICO are still happening and it could raise an alarm for the government making them think twice on supporting cryptos.

[burner2014]

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!

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.

In certain countries it's not possible, like some part of the Saudi Arabian Peninsula (not UAE because they are different), because they have a chieftain their that prohibits them from engaging in crypto investments. The fact they can give a huge impact in the market capitalization because their country is very rich.

That should be one of our aim, how we are going to convince countries such as Saudi to be involved in cryptocurrenty too, right now they are still not opening their eyes on this matter, but let us just do our part as an investor so that some countries will finally have time to review crypto again.

[Kizaki]

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!

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.

That is if the government can adapt and understand crypto very well. However, this might have a bad impact on crypto and might even result to some political issues since cryptocurrency is decentralized, transactions maybe transparent, yet user are anonymous. What if an exchange handled by a crypto gets hacked, it can ruin government budget or can result to mistrust.

[Palmerson]

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!

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.

That is if the government can adapt and understand crypto very well. However, this might have a bad impact on crypto and might even result to some political issues since cryptocurrency is decentralized, transactions maybe transparent, yet user are anonymous. What if an exchange handled by a crypto gets hacked, it can ruin government budget or can result to mistrust.

Even if we assume that the government will keep some of its assets in cryptocurrency, they will not do it on the stock exchange. They will store the assets in a standalone wallet. But that will never happen. The state has never kept the Treasury in risky assets. There are States that buy their enemies ' securities because it is more secure.

[ss890]

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!

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.

Ouch! That wont be good idea man and if they do publish one then also I will not use it as they will be able to track every other moment of mine and off course as you said they will be able to tax me too. This gets nerve wrecking even if I think about it, just imagine what will happen if I start using it lolz. Plus I dont want to give away my money to the government just like that as they are already taking lots of taxes from us. I dont just want to make fuzz about that one. I will be more than happy to exchange over the normal exchangers and pay extra fees. Come on I do need some attitude here.

[Ayush rana]

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!

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.

the concept of bitcoin was that it is the first decentralised currency in the world. if government opens its own exchanges then the meaning of decentralisation will change to centralised. many countries don't want cryptocurrency  in their country because it is a bit risky investment and at the end governments don't want to take the headache of people losses.
use of cryptocurrency will also affect the value of trade and the fiat currency.