Do you think that governments might one day ban Cryptos?

[teosanru]

Considering that the governments such as China have already tried to ban Cryptos. Would more governments do the same because Cryptos threaten the banks or the governments may want more control over what people use as currency and to remove all alternatives? What do you guys think, I personally think it won’t happen, but you might think otherwise.

Banning Cryptocurrencies is easier said than done. The traditional governments have their far fetched reaches only upto the banking and traditional financial system. They are not capable to shut down any technology. Which means even if government prohibits Cryptocurrencies it's almost impossible for them to stop it's transmission because it would still spread like weed is being spread today. This could make thing even worse for governments as most of the illegal money would flow in this mode and no one would be able to do anything about it. I think instead governments must try some other regulatory approach because this really is going to leave them out of business sooner or later.

[Astvile]

Bitcoin or let's say cryptocurrency is being viewed by the government as a threat for people's security and money. So me personally I'm not gonna be shocked if one day I saw some news about crypto ban in my country or even in a different country.

[Baby Dragon]

Bitcoin or let's say cryptocurrency is being viewed by the government as a threat for people's security and money. So me personally I'm not gonna be shocked if one day I saw some news about crypto ban in my country or even in a different country.

I also think the same way because I know that government is also powerful enough and they probably capable on doing it but I keep on reminding myself that as long as there are people who believe and supports crypto then it can be one of the reason why it will be difficult for them to do it. Governments have differences in their way of thinking maybe some of them can see the potentialities and capabilities of crypto and some are not, it will make you realize that is quite possible that their decision making can influence others or they just got influence that is why they end up on doing it too.

[d3nz]

It's not possible since they already taking advantage of the cryptocurrency underground and i think that they also bought a lot of bitcoin plus the added seized bitcoin. And maybe if they sell the bitcoin their holding then they can use the funds and make a technology to destroy bitcoin and other cryptocurrencies.

And we know that governement are hiding secrets from us and making their moves by little by little to control us.

[target]

Bitcoin or let's say cryptocurrency is being viewed by the government as a threat for people's security and money. So me personally I'm not gonna be shocked if one day I saw some news about crypto ban in my country or even in a different country.

I also think the same way because I know that government is also powerful enough and they probably capable on doing it but I keep on reminding myself that as long as there are people who believe and supports crypto then it can be one of the reason why it will be difficult for them to do it. Governments have differences in their way of thinking maybe some of them can see the potentialities and capabilities of crypto and some are not, it will make you realize that is quite possible that their decision making can influence others or they just got influence that is why they end up on doing it too.

Its the only possible way they can control the cryptocurrencies and by banning it they can then monitor which the exchanges and the people like us who had been in crypto for years. The chances of them doing these again may be 50% this time though, its been regulated already where we can now see institutions claiming they have invested to BTC and there is also BAKKT. There are several government adopting BTC as well which maybe the rest will also join.

[marcous]

Considering that the governments such as China have already tried to ban Cryptos. Would more governments do the same because Cryptos threaten the banks or the governments may want more control over what people use as currency and to remove all alternatives? What do you guys think, I personally think it won’t happen, but you might think otherwise.

Hasn't China legalized crypto law? from some sources I read such as the Cointelegraph and other trusted sources of the China government, in particular, the President of China has endorsed crypto law with the aim of taking advantage of blockchain technology. I read at Cointelegraph a note that the draft law was published on May 7 by a Chinese news outlet. But it is undeniable that rumors previously did China forbid crypto for security reasons, but that does not mean that other developed countries think the same, I guess.

[BeManga]

Considering that the governments such as China have already tried to ban Cryptos. Would more governments do the same because Cryptos threaten the banks or the governments may want more control over what people use as currency and to remove all alternatives? What do you guys think, I personally think it won’t happen, but you might think otherwise.

i think there will be more country that will try to ban crypto
but they will realize that its really impossible to stop bitcoin and just adopt it
as long as there is someone mining in the bitcoin network transaction will continue

[Fappanu]

I think cryptocurrency is not yet strong enough to undermine people's confidence in the bank. And I think the possibility of banning crypto and the worsening scam that is going on and if not prevented is that the government can act especially when people are losing money. And because bitcoin and other crypto are out of control, the government can prevent people from using crypto.

[Aying]

Considering that the governments such as China have already tried to ban Cryptos. Would more governments do the same because Cryptos threaten the banks or the governments may want more control over what people use as currency and to remove all alternatives? What do you guys think, I personally think it won’t happen, but you might think otherwise.

Have you not read the news yet? china is already adopting blockchain as well as crypto currency. do you think they can banned it now? in a past years that they want to remove cryptocurrency they didn't success, because crypto is already rooted. every huge company is going to accepts crypto. and china or even other country will gonna saw this kind of uses. thats why china is moving now to take part in crypto. so there are no high threat of cryptocurrency to ban for now. let's be positive for this out come that others will do the same as china.

[finaleshot2016]

It's already happening now, there's a massive banning of cryptocurrency in some countries because it literally affects the economy. But there are countries that need a lot of requirements before allowing cryptocurrency like the US. the U.S. In 2013, they defined Bitcoin as a virtual currency distributed convertible.

If money services businesses, including cryptocurrency exchanges, money transmitters, and anonymizing services (known as "mixers" or "tumblers") do a substantial amount of business in the U.S., they are required to

register with the U.S.FinCEN as a money services business
design and enforce an anti-money laundering (AML) program, and
keep appropriate records and make reports to FinCEN, including Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs)[29]

Also in Colombia, they did not allow cryptocurrency. The Financiera Superintendencia warned financial institutions not to "secure, invest, broker, or control virtual money operations". So most of the finance department is the one who contradicts the use of bitcoin in any countries which means, it really affects the flow and stock market in the economy.

[dothebeats]

Some countries that are still not feeling the change would likely try and ban cryptocurrencies, but since most are already heading towards digital payments and transactions are mostly done online, I don't think there'd be a single country that would like to ban cryptos anymore. They might capitalize on it and instead create their own cryptocurrencies for easier minting of coins and reduce the number of production costs for physical money creation. China reverted from banning and instead went on to just utilize the blockchain since they saw that they could become the number one country for enforcing changes and whatnot of their liking, and it's already a clear indication that they want to be ahead of things more than anyone else in the space right now.

[chaoscoinz]

The truth of the matter is this friend, there are way too many important people and organizations who have their fair share and stake within cryptocurrency. Do you think banning Bitcoin and cryptocurrencies alike will stop a giant like Mark Zuckerberg and the Face book regime from launching their famed Libra project? Too much money is on the line, people who have huge stakes would lobby against the ban and it would be very stifling to the technological innovation that it is to just go and outright ban it. Even smaller countries are considering integrating crypto into their economy.

[romero121]

Governments have difference of opinion upon cryptocurrency, which means some countries recognize the usage of cryptocurrency understanding the need for the development in economy. Even the countries that were against cryptocurrency usage have begun to accept and adopt cryptocurrency taking away the ban imposed long back.

The biggest fear upon cryptocurrency usage is the illegal usage and the decentralized way of usage where governments doesn't have any control. This means governments will think of the taxation, which too can't be done in a perfect way. Changes will happen with time, and governments will get adopted to it in the future.

[Ucy]

Considering that the governments such as China have already tried to ban Cryptos. Would more governments do the same because Cryptos threaten the banks or the governments may want more control over what people use as currency and to remove all alternatives? What do you guys think, I personally think it won’t happen, but you might think otherwise.

How has the ban in China been? Effective or not?
Removing all alternatives to fiat will likely lead to something else the governments would have to spend another long years fighting. I think censorship resistant/anonymity of fiat currencies is one of the main reasons people aren't embracing cryptocurrency yet or inventing physical alternatives to fiat.

[xiboothrezi]

I was also worried about that in my country, thinking I would be arrested and punished for holding the crypto currency and my country banned it, but apparently it never happened, we saw and realized that technology is getting better and now we have entered the world modern technology so people who might ban cryptocurrencies, like people who miss technology, are getting more and more sophisticated, especially China, I don't think that's possible

That is why we must know the rules set by the government in responding to cryptocurrency. Thus we can determine strategic steps so that we can still benefit from cryptocurrency. Although it has the opportunity to be used for illegal activities, cryptocurrency also offers many advantages as a potential investment and a promising commodity trade, although high risk. Cryptocurrency is also one form of technological development that is very useful. That is why most governments provide certain restrictions and rules. With such great potential, the opportunity for cryptocurrency in absolute ban throughout the world is very small.

[kawetsriyanto]

Considering that the governments such as China have already tried to ban Cryptos.

You must know that many countries have tried to ban crypto so far but crypto still continues its existence. It means we don't need to be so afraid, crypto has proven its power to survive. Currently, crypto adoption is improving quite well, I believe more countries to consider legalizing it.

I personally think it won’t happen,

Nah, you have answered it yourself but I don't see the reasons. Now, please explain it to us? It will be fair if you also try to answer briefly. 

[Pearls Before Swine]

Considering that the governments such as China have already tried to ban Cryptos.

But they didn't end up doing that, which I'm glad for.

Somehow I doubt any of the bigger countries would ban bitcoin outright, but they might very well put some regulations in place and that has in fact happened somewhat.  I would think that if any country were to ban it, it would be one of the third world countries whose local currency and maybe even the gov't leadership itself might be threatened by bitcoin.

But anything could happen.  Either way, tho, bitcoin would probably still survive as a form of money used in dark markets.  That could only happen with a worldwide ban and I doubt that's going to be the case.  Bitcoin does have a lot of supporters who would be outraged at politicians and hopefully would make a lot of noise if their gov't tried to pass laws like that.

[samcrypto]

Considering that the governments such as China have already tried to ban Cryptos. Would more governments do the same because Cryptos threaten the banks or the governments may want more control over what people use as currency and to remove all alternatives? What do you guys think, I personally think it won’t happen, but you might think otherwise.

China is now on the road to adoption, they didn’t succeed on planning to ban cryptocurrency because they see the potential of this technology and because of this I believe many country will also support crypto. Yes it wont happen because many investors are now coming in, they did that because they believe in something. Cryptocurrency will survive another milestone, 10years of existence already a strong start for us.

[AndySt]

Governments with their executive system can do this fairly quickly. But I think that this is just such a case when it is more convenient and easier to lead the process than to conduct an implacable struggle with this process. Or as an option to keep all this in limbo by observing how governments of other countries regulate similar issues.

[diahsw]

it could happen, no one knows the future, not even forbidding it, it could be that the government makes rules even tighter than that. so we must use bitcoin as well as possible, do not use it to commit crime and crime. !!