Will governments prohibit developers from creating a new coin?

[Shasha80]

I think that even if the governments will forbit developers from operating in their countries, the question is, was it implemented in the 11 year history of crypto? And if so, was it successful? Developers keeps on making coins and companies and projects keeps on supporting these ICOs and creating new coins and tokens for their money making efforts. Seems like any regulation that is being passed to them by governments have failed to destroy crypto and will continue to fail.

Even though the government forbids developers from creating new coins, it doesn't stop developers from making new coins. Still, developers will create
new coins in various ways, the proof is that new coins keep popping up every month. The crypto world is indeed very difficult to control, even some
countries prohibit their residents from owning and using crypto. But still there are always people who violate government rules, so the conclusion is that
the government will not be able to stop the development of crypto. As long as crypto can provide benefits, surely many developers will create new coins.

[blue_nexus15]

I think that even if the governments will forbit developers from operating in their countries, the question is, was it implemented in the 11 year history of crypto?

I am wondering how they will stop people from developing their coins with smart contract. It is open source that can be used by anyone without any verification. Who can provide proof? If they could do it, they probably did it because of the pressure of bitcoin. Lol, Or I was wrong

[Abiky]

They can forbid it if they want, the problem is how are they going to enforce this? I mean more than a decade has passed since satoshi released the first cryptocurrency and to this date there is no reliable information that says that they had been able to track him down since he took all the precautions that he could so he could remain anonymous.

What is stopping developers in the future to do exactly the same and do the best that they can to protect their identities and release their coins anyway? To me regulation seems like the best path for the governments, otherwise they are going to make a fool of themselves.

That's an excellent question. Governments can forbid developers from creating a new coin, but it'll be hard to prosecute those which are careful of leaving any tracks that would link them back to their identities. Someone like Satoshi would be hard (if not impossible) to find in order to enforce the rule of law. The only option would be closing centralized exchanges altogether. But even so, people are able to gain access to crypto/Blockchain tech via other means. Decentralized & P2P exchanges, atomic swaps, and the TOR network make it all possible for people to avoid government restrictions in the first place. Mainstream governments will have no choice but to "live" with crypto or get left behind in the dust. We'll see how everything will turn out to be the more crypto/Blockchain tech becomes popular worldwide. Just my opinion

[vabchgent]

As crypto/Blockchain tech becomes more popular, mainstream banks and governments will be forced to take action against this emerging industry to stop its growth worldwide. They don't want to people to use crypto on top of Fiat, so we'll be seeing new tactics from said entities in order to destroy crypto for good. One of those tactics could be either banning people from trading crypto at a centralized exchange or simply prosecuting developers of a cryptocurrency project. I believe the latter option is much easier and effective for governments to put an end to crypto for good. Before devs will be able to launch a new cryptocurrency, they're going to need governments' approval. Otherwise, they could face serious consequences in the long run.

Thoughts?

Prosecuting developers for writing code will be very very difficult from a legislative perspective. Generally, you can write whatever code you want as it might even pertain to freedom of speech. Why shouldn't you? If they were to pass a law that developers could be cracked down who write code for secure data transfer from A to B, which is what blockchain does, how would they treat messengers like Telegram and WhatsApp? Those are definitely used to organize crime. I think that is a hard route even for regulatory bodies to justify in front of the highest courts.

[Meysa_richa]

Actually the Government has full power over the people, they can provide regulations regarding the prohibition of trading Crypto and the prohibition of creating new coins. And they can give them heavy penalties if the people are proven wrong, thus the growth of Crypto in the country will decrease.
But actually it will still be violated by the community, because this cryptocurrency is a modern technology that has many advantages.

[suryogandul]

remember the government does not have a policy on this, crypto is global not only in domestic countries. I see there will be lots of tricks or ways for crypto lovers to keep developing crypto, so don't assume the government will be able to control crypto and can ban it at any time

[harizen]

As crypto/Blockchain tech becomes more popular, mainstream banks and governments will be forced to take action against this emerging industry to stop its growth worldwide. They don't want to people to use crypto on top of Fiat, so we'll be seeing new tactics from said entities in order to destroy crypto for good.

I don't see it that way. There's no way banks will destroy crypto because after all, they have their own digital asset. Why should they destroy it if they can use the blockchain instead as their advantage? Bank fiat payments also improved and evolve. Sending money is instant and just 1 tap. And banks no need to stop people, as people are the ones limiting themselves in crypto.

One of those tactics could be either banning people from trading crypto at a centralized exchange or simply prosecuting developers of a cryptocurrency project.

That's already the law implemented in those non-crypto-friendly countries.

However, at centralized exchanges, the government is profiting from them as they are registered businesses so I don't see their operation will be stopped.

Before devs will be able to launch a new cryptocurrency, they're going to need governments' approval. Otherwise, they could face serious consequences in the long run.

Most later projects who held an ICOs are like that. If I've not mistaken some projects in 2018. I hope I can name a few if I remember one.

A reference for investors that they are secured before investing.

[WalkerIVIV]

remember the government does not have a policy on this, crypto is global not only in domestic countries.

So many protocol in the crypto were fully decentralized. that means if there was no chance for the regulators to create such policy to the be applied for the smartcontract users and developers. Imagine that when it will be happening and then people can still issue their tokens on their own computer. that means if that will never happen.
The decentralized system was preventing it to happen to give freedom for anyone to use the smartcontract

[Golftech]

remember the government does not have a policy on this, crypto is global not only in domestic countries.

So many protocol in the crypto were fully decentralized. that means if there was no chance for the regulators to create such policy to  be applied for the smartcontract users and developers. Imagine that when it will be happening and then people can still issue their tokens on their own computer. that means if that will never happen.
The decentralized system was preventing it to happen to give freedom for anyone to use the smartcontract

Decentralization give space for every developers and users to keep away from any intervine coming from the

government, the concept prevents them to have any grasp with this system, and let it be like that as freedom

for everyone made this industry more interesting.

[Kez1817]

As crypto/Blockchain tech becomes more popular, mainstream banks and governments will be forced to take action against this emerging industry to stop its growth worldwide. They don't want to people to use crypto on top of Fiat, so we'll be seeing new tactics from said entities in order to destroy crypto for good. One of those tactics could be either banning people from trading crypto at a centralized exchange or simply prosecuting developers of a cryptocurrency project. I believe the latter option is much easier and effective for governments to put an end to crypto for good. Before devs will be able to launch a new cryptocurrency, they're going to need governments' approval. Otherwise, they could face serious consequences in the long run.

Thoughts?

Maybe it will works in the part of the government if they regulate cryptocurrency and implement some rules and regulation to follow by the cryptonian's but still limited because digital currency is decentralized and government has no full control or authority over crypto. Also it depends if the country is not crypto friendly but if the country is open for cryptocurrency, government will not prohibit the developers from creating new coin nor banning people from using, trading and investing in crypto.

[avikz]

As crypto/Blockchain tech becomes more popular, mainstream banks and governments will be forced to take action against this emerging industry to stop its growth worldwide. They don't want to people to use crypto on top of Fiat, so we'll be seeing new tactics from said entities in order to destroy crypto for good. One of those tactics could be either banning people from trading crypto at a centralized exchange or simply prosecuting developers of a cryptocurrency project. I believe the latter option is much easier and effective for governments to put an end to crypto for good. Before devs will be able to launch a new cryptocurrency, they're going to need governments' approval. Otherwise, they could face serious consequences in the long run.

Thoughts?

Could be possible! But newly created cryptos are not really the matter of concern for the governments. The main concern is related to the big cryptoa with active markets. So having a law that prohibits creating a new cryptocurrency will not address the issue.

Governments around the world, are working to impose a blanket ban on cryptos, especially the third world countries. But in first world countries, we are observing somewhat friendly behavior from the government towards cryptos.

But frankly, having a negative law doesn't really affect the crypto market because it's technically very difficult to enforce the law on cryptos due to its anonymity factor.

[crzy]

In my opinion, the government has the potential to do that because those who get permission to use and have a clear whitepaper are only bitcoin, it says bitcoin can never be created again because when it was made only 21 million bitcoins were created, while other coins could still be made new .

This will only possible if the government already supported cryptocurrency but for now, this is still unrealistic because the government is still not regulating crypto and every country have their own rules and regulations to follow. We know its easy to create a token, but only few projects are real so don’t waste your money on a fake project.

[dezoel]

I highly doubt that developers would care. Everyone talks about how governments may or may not do this but I do not think that any developer would actually care. I know many people who made their own tokens in the past year, and none of them notified their government about it, so how could government ban something they do not know about? Hell nobody even knows who they really are, only their nickname.

Could that be really fought and eventually government could figure out who they really are and punish them accordingly if it was banned? Yes they can, they have that "power" but do you really think that any government would go that far? I think developers will continue to make their own tokens without interruption, at worse do it like casinos where you open a token in curacao or whatever and that will still be quite easy to overcome any illegal situation.

[topbitcoin]

I don't think they can do that, because create new coin don't need regulation or make it legalize as long it is not to be a company. In my mind, government maybe only can do something to what is already registered as legal company to them. Like exchange, maybe like forcing people to do KYC, because exchange only follow regulation that come from government.

[bakasabo]

I also dont think that this can even be possible. What could even be a reason to prohobit development. Every new coin is a new project. Every new project means new money as taxes (as we are supposing govenment can prohibit, meaning they adopt cryptocurrency). Instead of prohibiting, they must support. But in situation if cryptocurrency is not adopted, why would govenmenr tell new projects what they can do or they can not do. At home at my own pc I can do what ever I want as long as it is legal. Developing software is legal so far.

[Theones]

As crypto/Blockchain tech becomes more popular, mainstream banks and governments will be forced to take action against this emerging industry to stop its growth worldwide. They don't want to people to use crypto on top of Fiat, so we'll be seeing new tactics from said entities in order to destroy crypto for good. One of those tactics could be either banning people from trading crypto at a centralized exchange or simply prosecuting developers of a cryptocurrency project. I believe the latter option is much easier and effective for governments to put an end to crypto for good. Before devs will be able to launch a new cryptocurrency, they're going to need governments' approval. Otherwise, they could face serious consequences in the long run.

Thoughts?

I don't think there will ever be such restrictions. In order to suffer the consequences of creating new coins, governments would have to make cryptocurrencies illegal. Governments can block development by hindering cryptocurrency trading, but will never penalize developers for creating a new coin or token.

[isaac_clarke22]

~

Aside from what I also mentioned previously, if they were able to forbid something crypto-related. They could have done the same already to Bitcoin long time ago before it even went mainstream.
They just do not have the choice right now but to either adopt it, live with it, or just ignore it and continue with their duties governing whatever they are into.

[7788bitcoin]

I also dont think that this can even be possible. What could even be a reason to prohobit development. Every new coin is a new project. Every new project means new money as taxes (as we are supposing govenment can prohibit, meaning they adopt cryptocurrency). Instead of prohibiting, they must support. But in situation if cryptocurrency is not adopted, why would govenmenr tell new projects what they can do or they can not do. At home at my own pc I can do what ever I want as long as it is legal. Developing software is legal so far.

No one will restrict anyone from innovating and creating novel products but you need to understand that all of the projects that are in the market are raising money without any permission what so ever and we have seen thousands of projects that raised money and majority ran away with the money they raised and you think the government will standby and allow that to happen  .
There will be regulations for raising money and any developer planning to raise money should follow them.

[Pelana vreo]

I think there is no need for rules to develop new projects, with new altcoins, but monitoring needs to be done for this and laws need to be owned by each country for cryptocurrencies in order to be able to crack down on some fraudulent projects because this aims to avoid scams that can harm investors, as I know, some new ICO in 2017- 2018 ended in scams, like Bitpaction Exchange and many other things.

Cryptocurrencies have transparency data and I think it's a good technology for now, the government can't make any special rules about licensing crypto projects, because some countries have copied Sathosi's idea without needing permission from anyone.

[bakasabo]

I also dont think that this can even be possible. What could even be a reason to prohobit development. Every new coin is a new project. Every new project means new money as taxes (as we are supposing govenment can prohibit, meaning they adopt cryptocurrency). Instead of prohibiting, they must support. But in situation if cryptocurrency is not adopted, why would govenmenr tell new projects what they can do or they can not do. At home at my own pc I can do what ever I want as long as it is legal. Developing software is legal so far.

No one will restrict anyone from innovating and creating novel products but you need to understand that all of the projects that are in the market are raising money without any permission what so ever and we have seen thousands of projects that raised money and majority ran away with the money they raised and you think the government will standby and allow that to happen  .
There will be regulations for raising money and any developer planning to raise money should follow them.

But it is not transparent what government does with taxes money also, as a tax payer I cant control that either. If I can not control them, why should they control me?
I understand that project raise huge amount of money, but no on is forcing investors to invest and be protected from scam by government. At least there must be a line, below which government dont interfere into the project, and above which government should. Yet again, project will find a way how to trick government with that.