USA government power over Bitcoin

[cryptoboss2020]

The USA government talking about Bitcoin like they have rights for this?

Why the USA acting like some world police?
Can the rest of the world Can't decide whats good for them and whats not?


USA fincen antymoney laundering Laws and etc.
So how come that USA have power so much over Other juristications?


Is this Reason is only they have big army and of you dont comply with them they Will just use Military power!

Like what Gives them to decide over so many Peoples lives and countries?

USA sec and fincen Can they just shut up about Bitcoin?

They killed liberty reserve it was greatest things I used and love it.
Now they talking about Bitcoin dont they have better things to do?

So Let's say they want more Control over BTC...
They cant touch the BTC its just computer based Virtual thing right?
They Can only be involved in fiat Exchangers...

[seoincorporation]

Well, it would be nice if you have a reference for USA acting like they have the power over bitcoin, in the end, they are the country with more power, so, they can take decisions an claim that someone or some country is using the cryptos to make money laudering.

A good example of this is when the FBI confiscates the Bitcoins from silkroad, those founds was dirty money but the FBI confiscate them. Not sure if this was fair for other countries.

[TravelMug]

Maybe the OP is talking about this one? Acting Comptroller of the Currency Brian Brooks Educates U.S. Senate on Crypto?

In any case though, I haven't seen any statement for any US government regarding control of bitcoin.

Perhaps this is just an exaggeration on the OP's part, or he just mis-interpret, what US or any other financial watchdogs around the world is doing is putting regulatory in place, but it doesn't mean that they can stop bitcoin from going mainstream.

[mk4]

I mean, the USA is literally the world police..

So Let's say they want more Control over BTC...
They cant touch the BTC its just computer based Virtual thing right?
They Can only be involved in fiat Exchangers...

Though they could attempt to have smear campaigns and such to destroy BTC's public image, they really can't, or at least, it's going to be really really difficult for them. Let's not kid ourselves though, they can deploy mass FUD campaigns to drop BTC's price temporarily, but definitely not kill the network.

[Lorence.xD]

Saying that US has power government is an utter BS, I do not think that just because they want to be educate themselves about bitcoin does not mean that they plan something tyrranical. And what is the connection of bitcoin to the foreign policy of US government. They protect their interests which is natural for any government, they want to understand things so they do not have to be caught off guard when things go awry.

[Upgrade00]

The United States is a country with one of the highest Bitcoin usage going by a number of metrics and whatever action the government takes would have an effect on the general Bitcoin space. This of course doesn't give them control, China with majority of the hashrate than the rest of the world also has some stake. Bitcoin is however decentralized and if these nations would attempt to control the network, users could switch to more friendly locations.

So Let's say they want more Control over BTC...
They cant touch the BTC its just computer based Virtual thing right?
They Can only be involved in fiat Exchangers...

The more people use centralized services to buy/sell and also store bitcoin the more it falls within the reach of the government.

[btctaipei]

Actually it is due to the existence of the Bretton Wood System.
Since USD acts like an reserve currency,
deep states, been existential had USD weaponize to service its purpose.

No offense but took me some critical thinking will allow you to see thru the illusion surrounds you.
Fundamentally it is about systemic control.
I am sure you will understand once you do some research and not relies on fake media and distorted institutions.

[verita1]

I understand that the USA intends to regulate the use that users give to cryptocurrencies to prevent them from carrying out illegal activities.
One of the FBI's concerns is that criminals are diverting large sums of money through cryptocurrencies.

https://news.bitcoin.com/us-government-moves-to-regulate-cryptocurrencies-after-attorney-general-publishes-enforcement-framework/

[btctaipei]

I understand that the USA intends to regulate the use that users give to cryptocurrencies to prevent them from carrying out illegal activities.
One of the FBI's concerns is that criminals are diverting large sums of money through cryptocurrencies.  

https://news.bitcoin.com/us-government-moves-to-regulate-cryptocurrencies-after-attorney-general-publishes-enforcement-framework/

FBI should concerns itself as for USD used being the most widely used money laundering tool that exists decades before BTC, which are order of magnitude more severe than all cryptocurrencies combined.  In practical terms, FBI is more interested getting free BTC thru the process called civil asset forfeiture.

USA is afraid of bitcoin is due to its monetary policies.  fiat currencies backed by physical assets such as non-paper gold have very little to fear.  Unfortunately, USD is backed by man with guns (U.S. Department of Defense). If you stop using it, they will get rid of you (Gaddafi, Mule Hussein, and dozen others)

Regulation has its limits.  It made cash in person trade popular as no one trusts centralized exchanges - this in terms increases the fees you may charge for those need moving into and out of BTC.  Thus, more regulation, more profit.  It is an win-win situation for everyone.

The reason FinCEN wants to amend BSA to mandates collection of any international financial transaction for $250 from $3000 is because things looks desperate for the USD.   A lot of transaction and international exchange forum (my favorite) no longer need conversion to and from USD, and this is even true for non crypto related commerce.  Because USD is becoming less used, FinCEN now wants to collect all information on it, so $250 made sense.

If you can convert like me without going thru USD, you can get alot done in OTC space.  The problem seems to only hurt those who holds USD.  Also, from what I am experiencing physical gold is getting scarce, and taking physical delivery right now is a huge problem.

[kentrolla]

I just said before few days regarding US new government I thought they will favour BTC but I didn't expected such news, this is not the way a super power country is suppose to keep a block hole.

BTCs primary motive is freedom for every transaction but I don't understand how come a super power country is ignoring such freedom in a diplomatic way. This is insane let the people have freedom atleast for their own money.

[pooya87]

I mean, the USA is literally the world police..

US is more of the world bully than police since the police's job is to bring order to the world but what US has been doing for the past couple of decades is to bring more chaos to the world.
with that said OP seems to have been reading a lot of FUD and have fallen for the exaggeration. it is already too late to do anything against bitcoin since it has gotten adopted by most of the world and it would be near impossible to try and reverse their approach to this.

[btc_angela]

More likely the OP has been reading a lot of negative news lately. The USA is not hardly putting a dent on cryptocurrency as a whole, maybe just a select few who uses it to extract money from US citizens. Anyhow it's been more than 10 years already, it's too late for them to stop crypto or bitcoin. If they decided to, some other countries are just going to pick up the ashes so it will continue with or without the US.

[n0ne]

No where it is stated that USA have majority control over bitcoin. USA has the majority of the financial services accepting bitcoin and usage is high in comparison to the rest of the world. Just on this things were correlated, but the reality is different.

When it comes to USA, people are much adopted to technology and the same easily drives them towards cryptocurrency and bitcoin usage. We can agree on China having control over bitcoin network, because it holds the majority of miners who are the backup for the success of the network

[Alucard1]

Maybe because the USA has the most numbers of bitcoin user, based on the statistics that I have read before the lastest one, the USA has the biggest number of cryptocurrency of all countries so basically if there would be any move or decision of government related to bitcoin will surely affect the crypto community but I don't think that they will use military power if ever there would be someone who would not comply with them, that is against the human rights of a person.

[Wexnident]

They can only talk about it, nothing more nothing else. Let them blabber their mouth all they want, nothing would change the fact that no power can govern over Bitcoin, even if the US self-proclaims that they rule over Bitcoin. Additionally, I don't think there's a connection with how they use their military power with Bitcoin though? Are they banning Bitcoin and arresting whoever uses them or something? Hardly doubt that. US can have all the rights on laws and authorities or whatever they implement over their country, but Bitcoin would never be inside of that. Exchanges? Well, the most they could do with that would either be FUD, or regulating possible transactions of "possibly" dirty funds of Bitcoin (came from hacks, scams, etc.). Which is why exchanges ask for KYC in the first place, and which is why most people don't look favcrably at exchanges.

[davis196]

The USA is actually an empire,even though they are trying to deny that.What else do you expect from the US government?US citizens have to pay taxes to the IRS,even if they live outside the US.No country in the world has such tax laws.
The US government doesn't have power "over Bitcoin",but the government has power over the users and businesses,who are trading and mining Bitcoin under the jurisdiction of the United States of America.
Without the support coming from the US people and businesses,the Bitcoin price could easily drop below 5K USD.
Like or hate it,the US government can influence the Bitcoin price.

[masterrex]

I think the US government has no intention to control bitcoin and it is not possible to control bitcoin because it was a decentralized network. thats why it cannot be controlled by any governments, But they have the power to block Bitcoin trading on any exchange that was operating in the US territory if they want to.
But I believe they won't do that because the U.S government only wants to protect their " Interest including the American crypto users and investors". that's why the U.S SEC wants to have tougher regulations on all Crypto platforms that were operated and doing business in their territory to protect its "Interest including its Citizens" and I think they have the right to do that as a sovereign nation. 

[lovesmayfamilis]

The more people use centralized services to buy/sell and also store bitcoin the more it falls within the reach of the government.

I agree. PayPal yesterday allowed American citizens to buy bitcoins.
https://news.bitcoin.com/paypal-opens-crypto-services-to-millions-of-eligible-account-holders-in-the-us/

It all looks like a carrot and stick policy. On the one hand, everything seems to be allowed, but on the other hand, all customers who own bitcoins in the payment system cease to be anonymous. Regulation everywhere and in everything is the true face of America

[usekevin]

The USA government talking about Bitcoin like they have rights for this?

Why the USA acting like some world police?
Can the rest of the world Can't decide whats good for them and whats not?


USA fincen antymoney laundering Laws and etc.
So how come that USA have power so much over Other juristications?


Is this Reason is only they have big army and of you dont comply with them they Will just use Military power!

Like what Gives them to decide over so many Peoples lives and countries?

USA sec and fincen Can they just shut up about Bitcoin?

They killed liberty reserve it was greatest things I used and love it.
Now they talking about Bitcoin dont they have better things to do?

So Let's say they want more Control over BTC...
They cant touch the BTC its just computer based Virtual thing right?
They Can only be involved in fiat Exchangers...

The view should be overviewed.Because it's not totally correct.In some manners, the US is acted as a Spectators role.Even they try to be a single polar world and lead the world. But cryptocurrency is different one, they can't control the flow of bitcoin and all.Because as everyone know bitcoin is based on the decentralized platform. So they can't do the spectators role on crypto currency.

[Teresa_FX1]

I wouldn't generalize the whole US goverment because there are different people with different opinions but there are powerful groups and lobby that want to control everything including bitcoin. They have a right to do this because they think that even if $1 is involved they can interfere. That's why many crypto-exchanges don't allow US citizens to use their services or platfroms.
Since $ is widely used in commerce and as a reserved currency that's why they have real power over many other jurisdictions or...they may impose different sanctions on those who disobey.
World financial system simply can not operate without US that's why many have to listen to SEC and FinCEN say about bitcoin and other cryptocurrencies otherwise they won't be able to operate or be very limited. Look at Iran for example.