Is this a gang up against cryptocurrency? Or ways to regulation?

[palle11]

Lately some government have come hard on cryptocurrency in trying to ban activities or stop people from crypto. India and Nigeria have a restriction on their people from freely using or hodling crypto, although that of Nigeria is to crypto accounts in the banks but that is part of restrictions. Now the latest country to come with another policy in line with restricting patronage of crypto is UK.
UK BAN ON BINANCE

UK is restricting Binance from there service in the UK and warning the people against binance.com. These restrictions looks to me like a means to regulate the activities of cryptocurrency.

In my own reason, I think we get this kind of news whenever the market turns bear after a good bull run and the government politicians have cashed out. 

[Argoo]

You need to get used to the idea that a decentralized cryptocurrency is not needed by states. Although they legalize it, they will not actively support it. Cryptocurrency is indeed a competitor and alternative to the national money of states, and therefore, from time to time, governments will regulate and restrict its circulation. This is inevitable and should be treated more calmly. We will need to defend our rights to use cryptocurrency at the legislative level.

[NeuroticFish]

UK is restricting Binance from there service in the UK and warning the people against binance.com. These restrictions looks to me like a means to regulate the activities of cryptocurrency.

The government's institutions expect all companies that work with money should comply their rules. From what I've read Binance doesn't, nothing unexpected here, especially since Binance is not registered in UK.
They will play cat and mouse, then, if UK is big enough market to worth the hassle, we'll see a binance.co.uk only for the brits, with certain restrictions enforced and so on. But that's only if UK is a big enough market for Binance...

[Nhazwrath]

couple things.  

Number 1  The way media presents something is almost invariably in a fashion to invoke an emotional response.  The purpose in doing so is to gain clicks. Reality of the actual situation is Ignored a lot in this process.

Number 2  Countries are protective of their money due to the fact that 2 main components of Sovereignty is Control of the money supply and control of the courts/justice/laws.   Crypto is a threat to the money supply.  But Smart countries don't ban it they make sure they can Track the flow of money for TAXATION.  <<< that's the big thing.

So the smarter countries require that the gov has access to all transaction so taxes can be determined and the gov gets their cut.  Exchanges that are not complying with these quite reasonable demands from the countries perspective will not be allowed to operate.

Medias take is: "Country BANS CRYPTO"  Reality "Country demands their tax!"

see the diff in the headlines and how is would change how you perceived the story?

[Sterbens]

Look at the government regulations of the world that anchored bitcoin prohibiting, and this year has been the craziest year in which they have almost united to attack bitcoin mining colonies everywhere. stop operations, create policies, and restrict crypto exchanges. Binance, as the largest exchange, has begun to be targeted by the market blindly so that all crypto owners give up and cannot sell their bitcoin holdings.
what's behind this crazy policy, we see someone is trying to control it remotely and that person is playing behind the scenes.

[Ucy]

lf you truly understand the purpose of cryptocurrency like Bitcoin, you wouldn't be worried too much when governments ask centralized platforms to stop operating in their countries.   A responsible person shouldn't be too reliant on such platform once they understand the risk involved,  and anticipate possible clash with governments who most likely have rules governing financial sectors especially on the issues of holding customer funds , acting as Bank or resolution of issues between customers and banks.

Business should be building decentralized platforms that enable users control their funds/assets and take part in regulation/governance/consensus that's according to Just laws or any country/person on Earth would find Fair, Just and Satisfactory

Unfortunately,we have people building the wrong platforms based on wrong principles.

[Slow death]

this is somewhat comical, i remember that since years i have seen so many hyip sites saying they have company registered in the united kingdom, it made me think that in the united kingdom they didn't check the sites when they acquire such records online and now they know binance and too are forbidding binance? is it because binance moves a lot of money? furthermore i heard that binance has no corporate headquarters, so what exactly is UK banning? binance is not in the united kingdom, people from the united kingdom can use binance however they want and whenever they want

[Mistafreeze]

Stopping activities of cryptocurrency users in a country can have minimal effect on the entire market activities especially if the participants have higher contributions to the entire market. This is a way to limit the number of persons that into the crypto market. Like we all know that the government are always looking for ways to control the crypto market in order to suite their economy since a lot of people have stated dumping Fiats for digital currencies which has good privacy coverage.

[Smartvirus]

You know, its really somehow. How the trend just keeps going and one could begin to wonder the same thing or what do they stand to get from trying to stop what can't be stopped. What is promoted by the will of the people!

While other governments are busy approving it for a legal tender with El-Salvador being the first and I heard news lately of Iraq looking at it on approval too. Mean while, the nations with large economies like China and UK keep being a plague to the system. Purging it at every chance they get, focusing in the institutions and exchanges that makes this happen. Cryptos being decentralized is the best thing that ever happened to it. Imagine if it were centralized and what damage the government might have done to people's investment. Just about the time we had hoped on enjoying ROI and then they step in.

Well, it has always been we and our sentiments about the market that determines what shape the market would take. No doubt the institutions have there part in this but, our collectivedecision is the most important. See it as a FUDthat it is and then, we head on.

[Wexnident]

It's nothing new tbh. Most of the countries' governments have always been hostile towards cryptocurrency since they had absolutely no idea on how to completely get it under control. The most they could do was to prevent their citizens from accessing exchanges and whatnot, but that can be bypassed quite easily since crypto is something that can be accessed with the internet. As long as one really wants to, one can easily bypass most restrictions that the government has set. Regulate they might try but honestly, it's just them about to give up on actually doing something.

Bitcoin (or crypto in general) just isn't something that can stay under control or bound by rules or laws since it already has inherent rules that its system follows. It runs perfectly fine and almost cannot be abused (if not totally) with the rules it has on its own.

[Silberman]

Lately some government have come hard on cryptocurrency in trying to ban activities or stop people from crypto. India and Nigeria have a restriction on their people from freely using or hodling crypto, although that of Nigeria is to crypto accounts in the banks but that is part of restrictions. Now the latest country to come with another policy in line with restricting patronage of crypto is UK.
UK BAN ON BINANCE

UK is restricting Binance from there service in the UK and warning the people against binance.com. These restrictions looks to me like a means to regulate the activities of cryptocurrency.

In my own reason, I think we get this kind of news whenever the market turns bear after a good bull run and the government politicians have cashed out. 

This is not really regulation against cryptocurrencies this is regulation against centralized businesses that deal with cryptocurrencies, it may seem just semantics but the difference is important, those regulations do not affect cryptocurrencies directly, they just affect those which are dealing with cryptocurrencies and are using the fiat system as well, you are still as free to send your coins from one corner of the world to the other and the governments cannot do anything to stop you.

[Princejebs]

Have you notice that this regulation and banned are just to scare people from investing and trying to collapse the market. Perhaps their fear of bitcoin dominating and overtaking other financial sector.
The way and manner of approach toward this ban is just obvious that they are merely trying to scare everyone that's why they are doing it in the bull run and not during bear market when things would have been transparent, but they preferred when crypto has gain so much attentions.

[Leviathan.007]

That's not normal to see the governments and bank people are acting against cryptocurrency. Because, after each new technology some people who were getting advantage from old technology will try stand against it because they see their benefits in danger and a new technology is always scary for traditional people. In the other hand. bitcoin and cryptocurrencies were not created to be centralized and get controlled by the governments, that's what they are trying to do by forcing people to to kyc and pay tax from each transaction and tell them about their total funds so the governments can get the tax from them, I believe what they do is totally normal.

[iv4n]

UK is restricting Binance from there service in the UK and warning the people against binance.com. These restrictions looks to me like a means to regulate the activities of cryptocurrency.

The government's institutions expect all companies that work with money should comply their rules. From what I've read Binance doesn't, nothing unexpected here, especially since Binance is not registered in UK.
They will play cat and mouse, then, if UK is big enough market to worth the hassle, we'll see a binance.co.uk only for the brits, with certain restrictions enforced and so on. But that's only if UK is a big enough market for Binance...

I completely agree with you, nothing unexpected happened! The UK is a highly regulated country, so if Binance is not complying with their rules what else could happen? In the end, if Binance wishes to get on the UK market they can do that... but they will have to comply with UK rules and regulations! What can lead us to the conclusion that some Binance features will not be available there!

I don't think this is some "gang up against crypto"! It's just a serious country enforcing the rules, and just against one exchange that doesn't play by their book!

[beerlover]

Lately some government have come hard on cryptocurrency in trying to ban activities or stop people from crypto. India and Nigeria have a restriction on their people from freely using or hodling crypto, although that of Nigeria is to crypto accounts in the banks but that is part of restrictions. Now the latest country to come with another policy in line with restricting patronage of crypto is UK.
UK BAN ON BINANCE

UK is restricting Binance from there service in the UK and warning the people against binance.com. These restrictions looks to me like a means to regulate the activities of cryptocurrency.

In my own reason, I think we get this kind of news whenever the market turns bear after a good bull run and the government politicians have cashed out. 

I believe it is not going to be that much of a problem in the world of crypto in the long term because these regulations are what makes a sector grow up. The more regulations there are the more legit you become and there is no question mark in your head.

Binance is starting a whole new thing for UK and that is going to be quite cool and they will follow every law and they will make a ton of money and all the people in UK will be able to get a ton more stuff out of this. Hell Binance is so rich that British people care about football a ton, they could just sponsor EVERY team on premier league with the amount of money they make, that could be a good way to grow. After a nation accepts it and puts a law and arrange regulations that is not saying they do not want you, that is saying they want you to be more legit and be safe, it is actually a security that they are providing.

[livingfree]

That is nothing new to us anymore.

Policies from the government change towards crypto services and businesses such as exchanges that operate in their jurisdiction. Even if that stops them, they'll realize that there's a big amount of money that they're pushing away.

They stop or ban it today, soon they'll change that decision.

[suzanne5223]

We can all this issue a gang up on against cryptocurrency and we shouldn't expect every government to support crypto because its decentralization in nature is one turn-off for the government. However, the recent UK ban on Binance is from the FCA and it was due to their rules and regulations.
Meanwhile, Binance is not the only company restricted by them (FCA) and the restriction is not banned cause UK customers can still use Binance.

[dezoel]

Remember a few points, just in case.

1- If governments could ban and stop the use of cryptocurrencies, they would have done it by now. The truth is that they cannot regulate the use of crypto and they cannot stop it either. All these bans and strict policies against crypto mean nothing as long as people keep believing.

2- When the market is down everyone tends to talk bad about bitcoins so don't take the shit talk too serious tat social media and I often laugh at such articles where bitcoin is shown to be in a dire condition because it wastes recourses and all.

The same BTC has been running for a decade now and only good things have happened to the ecosystem so nothing to worry about yet.

[tippytoes]

Remember a few points, just in case.

1- If governments could ban and stop the use of cryptocurrencies, they would have done it by now. The truth is that they cannot regulate the use of crypto and they cannot stop it either. All these bans and strict policies against crypto mean nothing as long as people keep believing.

2- When the market is down everyone tends to talk bad about bitcoins so don't take the shit talk too serious tat social media and I often laugh at such articles where bitcoin is shown to be in a dire condition because it wastes recourses and all.

The same BTC has been running for a decade now and only good things have happened to the ecosystem so nothing to worry about yet.

The government can't get the full control in crypto, that's why they don't like it. However, as you said, even if they ban it, they can't do anything about the movement in crypto, because it is simple, they can't make the transaction to stop. This is nice about crypto, you can make your own transactions without anyone knowing about it. Maybe, in time, they will truly accept the existence of crypto and just regulate as much as they can. Yes, they don't have the full control but at least, they can get ahold of some of its transactions.

[cabron]

The bans and negative news like these are published to the media that's being used by whales probably institutions too so people will sell their coins so that they can buy the coins with the money also earn from the bullrun since they earned a lot. They have sold their BTC when it surged to its ATH. They've been successful in spreading fud and then taking the coins out from us.