Is the US Government Trying To Control Crypto?

[Menawi12]

Binance just announced that their US platform would be ready in weeks. The question is, what's on the mind of the American government concerning crypto. Isn't it possible they're trying to control it like the USD? https://www.cryptoinfowatch.com/binance-us-ready-for-launch-in-weeks/

The American government has long been known for its strict regulations. But I think any government is difficult to control cryptocurrency because it is decentralized and knows no national boundaries. What every government can do is regulate exchangers so that the traded crypto does not violate their regulations because crypto has begun to be known as digital assets

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[Slow death]

Binance just announced that their US platform would be ready in weeks. The question is, what's on the mind of the American government concerning crypto. Isn't it possible they're trying to control it like the USD? https://www.cryptoinfowatch.com/binance-us-ready-for-launch-in-weeks

I don't like governments because they are a small group of corrupt, ambitious and evil people, but we have to look at things from another angle:

Who will ensure that scammers are punished?

Who will ensure that scammers will not steal?

How many cases of exchanges that have blocked people's accounts for no justifiable reason exist?

How many cases of ICO scam are there?

How can we accept that an anonymous exchange owner take our documents: (our passports, our income statement and our proof of residence)?

Even if we don't like governments, but we have to admit that we need governments to regulate this crypto market.

What the US government wants is to "protect its citizens"

[StonerStanley]

If you have any question the greedy corrupt government isn't trying to influence crypto just look at what they did to Ross Ulbricht and the Silk Road story...

There were hard drugs on his website, it's not (or not only) about crypto. Even if it's a sad story what happened to this guy.

The government in France want to make a public crypto because of Libra from Mark Zuckerberg. So, of course that the governmentS want to control the economy, it's just a question of economy.

[jjjfff]

The vast majority of Bitcoin hashrate is in China right now.

These posts about the US Government miss the real threat.

[whtchocla7e]

It seems to me that all governments somehow want to control cryptocurrencies and the US government is no exception.

While legal issues have always constrained the growth of cryptocurrencies, countries are still seeking to control it. But it seems this is not possible. Blockchain technology is transparent and not subject to many legal constraints. This is also the reason why the government is afraid.

[jake zyrus]

I don't think they're trying to control cryptocurrency. Most possibly, they would try to control the user. They cannot control crypto like bitcoin since it's decentralized that's why maybe, they're trying to influence its users and would probably regulate the use of crypto within their country. Plus the fact that Trump is not positive about crypto, as what he tweeted before.

[serjent05]

Binance just announced that their US platform would be ready in weeks. The question is, what's on the mind of the American government concerning crypto. Isn't it possible they're trying to control it like the USD? https://www.cryptoinfowatch.com/binance-us-ready-for-launch-in-weeks/

The fact that government always wanted to be in controlled of everything means that even crypto will not escape their grasp.  They often worry about fraud, money laundering and other stuff that they think may affect their country negatively.  Sadly, they view cryptocurrency as one of the possible medium for this act so in order for them to control this kind of illegal activities, they have to control cryptocurrency.

[darylalban]

I don't think their plan is to control it but instead implement regulations against money laundering. It sounds like they've invested the most money into blockchain forensic partners

[Apes]

it seems like a lot of theories occur if the US government is interested and tries to control cryptocurrency. I think with the huge amount of circulation in cryptocurrencies around the world. any country are certainly interested in managing can take advantage of these funds. is this one of the steps of the US government to take advantage in it or is it related to one of the ways to win the trade war issue that is taking place at this time. No one knows

[ene1980]

Binance just announced that their US platform would be ready in weeks. The question is, what's on the mind of the American government concerning crypto. Isn't it possible they're trying to control it like the USD?

They can definitely control the business such as exchanges and could monitor the flow of money into the market, other than that what they are going to control in a global financial market , every country is looking to come up with regulation to have some sort of control over the market and it is expected to happen in the next few years.

The vast majority of Bitcoin hashrate is in China right now.
These posts about the US Government miss the real threat.

What is the real threat in having a bigger hash rate from China, no one is holding anyone back to invest in huge mining farms, what are you talking about   .

[Upgate]

Binance just announced that their US platform would be ready in weeks. The question is, what's on the mind of the American government concerning crypto. Isn't it possible they're trying to control it like the USD? https://www.cryptoinfowatch.com/binance-us-ready-for-launch-in-weeks/

The leader and president of the United States of America in person of Donald Trump is against bitcoin and cryptocurrency and I don't know how he or his government would want control cryptocurrency

[nankers]

Broadly speaking, I think the news is more directed to cooperation to attract new investors, not as you would expect that "the US government is trying to control cryptocurrency". Because there has been so much news that the current US government does not support anything about cryptocurrency. But it does not rule out the possibility that later the US government will control cryptocurrency, perhaps by creating an exchange market project (IMO)

[DooMAD]

People place too much emphasis on the US government.  Just because they're clinging on to superpower status in the fiat world, doesn't give them superpower status in Bitcoin.  If they hold some of their wealth in wallets where they control the private keys and they start running some nodes, or even start mining, maybe then it's worth caring about what the US government thinks about Bitcoin.  Until then, they aren't part of our system.  They can order companies about and impose taxes on their citizens.  That's nothing to do with Bitcoin, though.  Stop overstating their importance.

[Chrystora123]

I don't think they try to control it. President Donal Trump has stated that he hates cryptocurrencies. However, this country still has a large number of currencies around the world. Besides, electronic facilities are difficult to control and manage.

https://cointelegraph.com/news/libra-vs-us-congress-all-there-is-to-know-ahead-of-hearings

I think the US government has long been trying to control cryptocurrencies, but since Facebook announced it will issue their cryptocurrency (Libra) the US government is increasingly wary of cryptocurrencies...

I think China has predicted that the US is trying to control the cryptocurrency, so they are issuing their own country's cryptocurrency.

[audaciousbeing]

Binance just announced that their US platform would be ready in weeks. The question is, what's on the mind of the American government concerning crypto. Isn't it possible they're trying to control it like the USD? https://www.cryptoinfowatch.com/binance-us-ready-for-launch-in-weeks/

This kind of question does not even need any form of thought before answering because that is the case however, you don't expect government to come in clear terms of what their intention is but with the various controls put in place and compliance that needs to be done if the business want to keep functioning, the outcome is simply control. For Binance to now have a platform to specifically take care of the needs of their clients in the States, it should send a signal that its going to be fully compliant to the rules and regulations of the jurisdiction. So, to people in the States, don't even think of anything under the law with this platform as there will not be anyway to hide. Just be fully transparent and ensure you activities is fully compliant with the law.

[jsizar]

US goverment is trying to control everything
Money flows are very important, so, i guess, yes

[shoreno]

US goverment is trying to control everything
Money flows are very important, so, i guess, yes

u. s is a good country and not power hungry when compare to other countries out there .

 they dont want to controll everything and they dont want to controll crypto either   .

 other countries are only pretending to control crypto but that also nearly impossible to happen since cryptos are known to be uncontrolable  , they can only manipulate it and that more possible     .

[jostorres]

Binance just announced that their US platform would be ready in weeks. The question is, what's on the mind of the American government concerning crypto. Isn't it possible they're trying to control it like the USD? https://www.cryptoinfowatch.com/binance-us-ready-for-launch-in-weeks/

What United states is  more concerned about is their tax collection, and all the issue that binance had been having with them was strictly because of these, and this is why they have not been having it well with binance because binance had vowed not to expose their system to them generally since they have promised anonymity to an extent, but I guess that binance had to bow to their pressure, and created a separate platform where US citizens can trade and that would be a forum for them to control all the activities of US citizens and be able to tax the.

I don’t see this affect everyone generally but the US citizens alone, although my fear is that they may have influenced other countries also, and you see those countries demanding platform for their own citizens separately.

[kryptqnick]

Binance just announced that their US platform would be ready in weeks. The question is, what's on the mind of the American government concerning crypto. Isn't it possible they're trying to control it like the USD? https://www.cryptoinfowatch.com/binance-us-ready-for-launch-in-weeks/

They cannot control it like the USD, because the latter was their creation and is fiat (meant to be controlled by the government/central bank), whereas the former is a new independent form of money. The article is about a stronger KYC procedure. So the US government wants to know who uses Bitcoin in their country and thus be able to track the transaction, partially knowing the real people behind them. But it's more about Bitcoin used by the US citizens, they probably don't care about anything that does not concern their country.

[Artemis3]

Binance just announced that their US platform would be ready in weeks. The question is, what's on the mind of the American government concerning crypto. Isn't it possible they're trying to control it like the USD?

They cannot control decentralized crypto. The likes of Libra sure, but not Bitcoin. Its not a matter of wanting, they simply can't control it. Regulating it requires cooperation from their fellow citizens, but they cannot stop said citizens from keeping secret wallet/transactions...

Bitcoin is something that happened, in-spite of governments. Some don't know what to do about it, but they cannot make it disappear. I guess regulation is the next best they can do, unless they give up fully and authorize it freely the way it should be.

Its probably just a matter of time... State and Money are no longer the same anymore.