Government ban on crypto

[haidil]

maybe the US applies the rules of bitcoin not to legalize or illegal, but the US government provides more rules where bitcoin in the US must run according to the rules and directives of the government. it is natural, because each country has its own rules for what is in the country

if the government does not participate in implementing and providing rules, it will certainly be chaotic, it could be that BTC is used in fraudulent crimes, so it is only natural for the government to supervise and implement the

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[elisabetheva]

yes maybe when it is still below $100 and only a few people know bitcoin but now I think its impossible at this stage big player already own bitcoin they wont let it, but gov still can make money from it like applying tax or whatever

With the current value that is high enough, as you say, it is true that the government can naturally take advantage of the tax generated from each transaction. Obviously this is very profitable for the tax generated, which is certainly not small because every day the resulting transactions are quite large. but in the end it returned to the government itself, whether to do that or other actions.

[Teslon]

no one get access bitcoin that's why Government ban crypto

[bosede1]

In my country Nigeria, the federal government made a ban on the trading of any crypto market businesses, even to the extent of seizing bank account that have prior transaction details. But this hasn't stop people from investing and trading because there are different ways to this trading medium.

[Maslate]

In my country Nigeria, the federal government made a ban on the trading of any crypto market businesses, even to the extent of seizing bank account that have prior transaction details. But this hasn't stop people from investing and trading because there are different ways to this trading medium.

It's always possible as there are p2p trading platforms, one can trade their bitcoin to fiat vice versa without the government knowing it, they have started with exchanges and soon maybe they look on how to detect anyone doing p2p trading, but it's gonna be a tough job for them.

What they are doing is they are taking our freedom to own bitcoin, as a bitcoin enthusiast, we should not allow that wherever we live.

[geegaw]

maybe the US applies the rules of bitcoin not to legalize or illegal, but the US government provides more rules where bitcoin in the US must run according to the rules and directives of the government. it is natural, because each country has its own rules for what is in the country

The US government is very firm and strict in the tax and income sector, they do not prohibit too much crypto activities but they demand transparency and contribute to society and the development of the nation, rules that they create need exchanges and participants have to comply correctly, otherwise they will punish mistakes. Other countries have relatively few regulations, they simply cite statements and threats from banks and people in power but these are also appearances and external factors, without inner strength

[Rexler]

Fortunately most countries government has gotten to see the help and usefulness of per taking in crypto activities, most big investors has only developed interest in crypto and some of this big guys who invest in crypto occupies a space in the government, which simply means most government are already in support of crypto. Currently now the chances of crypto being banned is less and even if some countries are not in support of crypto or will ban crypto  some day it won't have much effect on the crypto space because crypto has been embraced by many big countries.

[Tigerheart3026]

It is very popular all over the world, the government will not be able to do any huge affected by banning.
Despite strict laws by central bank, the government has not been able to stop its use for people’s. its control is beyond the government power. most countries do not adopt yet.

[UKprod]

Yes, this sounds reasonable.

I'm from India, where the government is planning to outright ban all the cryptocurrencies. It would be an interesting move, but something that is facing a lot of resistance. Further, the government seems to be moving towards the ban with a completely misconceived notion that crypto is meant only for illegal activities. Of course there is a need for the government to have a dialogue with all the stakeholders in crypto industry before they pass any laws.

[Kayum10029]

If the people of a country use Bitcoin for various criminal and anti-economic activities, then the government of that country is under pressure to ban Bitcoin.  But another important point is that if a country's bank fails to control Bitcoin, the government is forced to ban Bitcoin.

[bryant.coleman]

Yes, this sounds reasonable.

I'm from India, where the government is planning to outright ban all the cryptocurrencies. It would be an interesting move, but something that is facing a lot of resistance. Further, the government seems to be moving towards the ban with a completely misconceived notion that crypto is meant only for illegal activities. Of course there is a need for the government to have a dialogue with all the stakeholders in crypto industry before they pass any laws.

The problem in India is that they don't want freelancers to receive their income in the form of cryptocurrency from abroad. There are so many taxes and other formalities on running ITES services in India and almost 80% of the payment gets eaten up by taxes and duties. Now the freelancers don't need to pay any of these taxes and that is the reason why the government is not comfortable with the idea. According to the government regulations, Indian individuals are prohibited from directly working for foreign employers, unless they have the license for the same.

[NelfiNovita]

In my opinion the government will not be able to ban bitcoin because whether you want it or not the government is forced to accept it because bitcoin can provide enormous benefits for investors, besides that the current popularity of bitcoin is very much around the world, so it is not easy for the government to ban crypto.

[javainn]

My prediction is that the government will not be able to ban crypto, because what we know now crypto can be a valuable asset for some people, especially in the US. I feel that the government is only able to provide rules about crypto including the use of crypto, crypto trading and other things related to crypto in each country. because basically crypto has no headquarters and the government cannot stop or ban crypto

[Abiky]

It's always possible as there are p2p trading platforms, one can trade their bitcoin to fiat vice versa without the government knowing it, they have started with exchanges and soon maybe they look on how to detect anyone doing p2p trading, but it's gonna be a tough job for them.

What they are doing is they are taking our freedom to own bitcoin, as a bitcoin enthusiast, we should not allow that wherever we live.

Governments will try to find a way to stop people from using Bitcoin at all costs even if they have to strip away your freedom in the long run. It's all about power, as governments don't want to lose control over people's lives. The fact that Bitcoin is decentralized and outside the reach of third parties, makes governments and central banks furious.

Ultimately, a ban will be only effective against centralized exchanges. But smart people will exchange their Bitcoin using a decentralized exchange or doing a P2P trade. The latter option is completely anonymous since the trade happens in an "off-chain" manner. This will make governments' life impossible, leading them with no choice but to join the game or be left behind in the dust. As long as governments are able to tax crypto properly, the industry will have the "green light" for non-stop growth in the mainstream world. Just my opinion

[Maslate]

My prediction is that the government will not be able to ban crypto, because what we know now crypto can be a valuable asset for some people, especially in the US. I feel that the government is only able to provide rules about crypto including the use of crypto, crypto trading and other things related to crypto in each country. because basically crypto has no headquarters and the government cannot stop or ban crypto

It's us people who are fighting for crypto, and we people are the ones who elected the president in a country, so they must serve the interest of the people through his government. Banning Bitcoin is not good, it could be a violation of our rights, instead, they will just have to regulate it to minimize the risk as we know that bitcoin is a high-risk asset, and with regulation, proper education will come easily as people will be confident in using bitcoin.

[Wipeout2097]

Bitcoin is a resource and medium of exchnage at same time.Also numerous advantageous characteristics of Bitcoin the most is decentralized So government can't fair boycott bitcoin since they are not the ones in control. The government can as it were boycott something they control over such as fiat cash or something like that. Bitcoin may be a peer-to-peer advanced cash that's quick, secure, and decentralized.But if governement legalize the Bitcoin it will help the economy and maximize the revenue from the transactions of Bitcoin.

[Sihab76]

Many governments want to do this, but not many are able to do it. I still don't understand what is really happening in India.

Recently Many countries governments want to ban cryptocurrencies but they can't able to ban this because it already be a decentralized plafrorm which already spreaded over the world wide and among the people.

[faysalgeo]

It should not ban, because now a days people earning has become very low

[blackened515]

<~>

Bitcoin can't be controlled, can't be destroyed. So the Government placing a ban on Bitcoin and other Crytocurrency won't stop people from buying and selling it. Many countries are banning Bitcoin, pushing it citizen into P2P trading. Trying to make Bitcoin difficult for traders. I don't understand what the Government do achieve from prohibiting Bitcoin, but one thing i know and understand is that, Bitcoin cant be stoped.

[Rkss4]

Banning cryptocurrencies in different countries a common feature in cryptocurrencies market. But I think it's a waste of time and effort because any government can't control bitcoin and stop the transactions of Bitcoin any more.