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

[arallmuus]

the governments were completely blindsided by bitcoin, they thought they had perfect control and monopoly of fiat currencies and then bitcoin came and erased that notion, at first they thought this was never going to get big and it was just a form of money for nerds

Another option would be to choose to accept it as a legal tender but that would only happen to a small country like El Salvador that has used another foreign currency so it would be easier to use another currency as their legal tender

but now they are realizing bitcoin is a real threat to them and yet despite doing the best they can there is no way for them to stop bitcoin.

Actually this only happened to some super power countries such as China and US because they have their own fiat which is used worldwide so bitcoin poses a thread to the whole economic system of their countries. Most countries so far are pretty neutral to bitcoin existence so there is a good chance that this might continue on the future

[Kakmakr]

I doubt if government officials are bothered with a Bull or a Bear Bitcoin market, they are too busy printing toilet paper money.    The governments will do anything to hold onto the control over people and the Covid pandemic has shown how far they are willing to go with that. (Lockdowns and rules and regulations)

The latest bans has more to do with governments wanting to regulate Crypto currencies to control the taxes that are the life blood of these politicians and the law enforcement that are backing them. (Armies and Law enforcement has to be paid to control them too) 

[Silberman]

the governments were completely blindsided by bitcoin, they thought they had perfect control and monopoly of fiat currencies and then bitcoin came and erased that notion, at first they thought this was never going to get big and it was just a form of money for nerds

Another option would be to choose to accept it as a legal tender but that would only happen to a small country like El Salvador that has used another foreign currency so it would be easier to use another currency as their legal tender

I doubt that we are going to see more countries accepting bitcoin at the moment, not because there are no other countries interested in bitcoin but because they are going to wait for a few years and see that if the experiment we are seeing at El Salvador is in fact successful, if it is and I think we all hope it will then those countries will begin to adopt bitcoin.

but now they are realizing bitcoin is a real threat to them and yet despite doing the best they can there is no way for them to stop bitcoin.

Actually this only happened to some super power countries such as China and US because they have their own fiat which is used worldwide so bitcoin poses a thread to the whole economic system of their countries. Most countries so far are pretty neutral to bitcoin existence so there is a good chance that this might continue on the future

Those other countries may support bitcoin now because they want to weaken both the US and China, but you can be sure that if it happens and they are the ones that are at the top they will quickly change their tune.

[teosanru]

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. 

Obviously regulations, Binance more or less is unregulated and I am sure a lot of black money revolves in Binance, Binance pretty much set straight the US regulations after making a separate exchange for US. But now other countries are starting to crack up on Binance too. I think slowly Binance will have to comply with every country's regulation.

[Rruchi man]

Alot of things will be clearer if we look at the objectively.

From my understanding of the news:

1) Although the Financial Conduct Authority (FCA)  does not regulate cryptocurrencies, but requires exchanges to register with them.
Therefore, until Binance registers with the FCA, they are not allowed to operate an exchange in the UK.

2) Personally, I think the FCA is just playing one of it's role. We very well know that as much as cryptocurrency is symbol of good, it's is also being used by criminals gangs to distabilize some regions of the world. So they're giving folks a heads up.

4) The government should come clean and tell us what they actually want from cryptocurrencies exchange platforms. Also, these platforms should also come clean and tell the government what they really want. There's more to this than meets the eye 👀.

[Ozero]

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.

Governments and their banks will always be highly suspicious of decentralized cryptocurrencies, if not hostile. Because a decentralized cryptocurrency is the complete opposite of their currency. Governments can legalize the circulation of cryptocurrency, but support it, and they will not create the infrastructure for its operation. Citizens will need to do this on their own if they want to create an alternative to the existing payment system.

[Haunebu]

Firstly, you need to get your facts right op. India did initially ban cryptocurrencies completely, but they reversed their verdict sometime back and are now in the process of trying to regulate them in different ways.

Various governments have been ganging up on BTC and other cryptocurrencies from long back and some of them eventually gave up and decided to simply regulate it like India etc.

This pattern will most likely never change and it doesn't really matter since BTC and other popular cryptocurrencies will keep surging forward no matter what.

[josephdd1]

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. 

Nice idea But actually, there are some more realistic reasons why authorities ban crypto. The government are used to control people, especially finances. The government want to be the only issuer of money. They want to monitor movement of our money and ban transactions if they consider it to be dangerous. But crypto is unregulated so they can’t let it develop. Authorities can't put up with such a strong economic opponent, so they restrict crypto. .

[habebe]

in such situations We need to learn from the idea that a decentralized cryptocurrency is not needed by states.  because they are doing this legal work where we are here, but they are not actively supporting it.  Cryptocurrency is actually a decentralized currencies and alternative to all currencies of states, and so far sometimes a government controls and also prohibits its circulation.  for It is really unavoidable and must be fixed more thoroughly.  and for that reason we need to protect our rights to choose a cryptocurrency over all of it.

[Vaskiy]

Firstly, you need to get your facts right op. India did initially ban cryptocurrencies completely, but they reversed their verdict sometime back and are now in the process of trying to regulate them in different ways.

India is one among the country that announced ban of cryptocurrencies and it is illegal to use within the country. By the time people feared, but continued to use through all possible ways. Later government announced with the restrictions on banks providing support to crypto service renders. Now they've been planning to regulate the usage of cryptocurrencies.

Various governments have been ganging up on BTC and other cryptocurrencies from long back and some of them eventually gave up and decided to simply regulate it like India etc.

Than following India, now we've got more countries that have taken bold decisions on using cryptocurrencies and are begun to follow those countries.