Is the US being too hard on crypto?

[Abiky]

Ever since the Biden administration proposed a regulatory framework for crypto/Blockchain tech, government agencies have been targeting platforms and users more aggressively. First it was the sanctioning of the Tornado.Cash mixer, and now the SEC wants to classify all PoS coins as securities. They seem to be more against Ethereum than Bitcoin or any other cryptocurrency for that matter. There was a case between the SEC and Ripple, but thankfully, it didn't turn out to be a huge win for the government agency. Compared to the previous administration, I think the current administration is taking crypto too seriously.

Do you think crypto's ever-rising popularity will lead towards more regulation by the US? Or will things settle up a bit? Do you believe the US is being too hard on crypto? If not, which other country (or countries) is worst? Your input will be greatly appreciated. Thank you.

[GreatArkansas]

(....)
Do you think crypto's ever-rising popularity will lead towards more regulation by the US? Or will things settle up a bit? Do you believe the US is being too hard on crypto? If not, which other country (or countries) is worst? Your input will be greatly appreciated. Thank you.

They are indeed starting toe become too hard on cryptocurrency. The United States of America is not an ordinary country, they have reasons why they are doing these sanctions/regulations on cryptocurrencies.
The more people are hopping on cryptocurrency, the more volume pouring into the cryptocurrency market, and the more they will become strict or hard. If you take a look on early days, it seems most government ignore cryptocurrencies.

[NewRanger]

indeed , US actually want to againts  cryptocurrency  due their own interest. as we know US still want dollar  to be superior money in the world , by cryptocurrency appearance ofcourse it will directly decrease dollar power.  today we see alot international transaction using bitcoin or other cryptocurrency , for super power country its really annoying  they could not controll this. legalization in US will take long time .

[yazher]

This is fine compared to other countries like China where they rush to totally banned cryptocurrencies without giving any warnings and miners are forced to migrate with their mining components to other countries. But considering the situation nowadays with the US regarding crypto, miners and holders should have their own plan B in case more regulations are coming in the future. They should know that they can no longer be safe against huge amounts of taxes once these regulations are passed.

[TastyChillySauce00]

China is even worst compared with binance. Look at how so many US billionaires were supporting crypto unlike china which has been seeing crypto as a threat. There's no reason to call US being too hard on crypto. Remember even some regulators in US have been issuing approval for some crypto products. I think that you must see reality if US was also bitcoin house right now unlike another countries which were always banning crypto without any reason

[passwordnow]

Do you think crypto's ever-rising popularity will lead towards more regulation by the US? Or will things settle up a bit?

Yes. They can't handle it anymore and there's a need for them to put their hands on it and that's why they're acting as if they're the most needed regulatory body even though without them, the market and its community will thrive together.

Do you believe the US is being too hard on crypto?

I am not sure but it could be that the whole economy have been in difficult times so, they've put their eyes on crypto and have to regulate it and can't just let everyone enjoy those tax-free profits from crypto.

If not, which other country (or countries) is worst? Your input will be greatly appreciated. Thank you.

The unsure ones, are China, India, etc.

[ethereumhunter]

I agree that the popularity of crypto has increased so much that people are now aware of crypto, making the government feel the need to control the crypto movement and take advantage of it. And I think the US is too hard on crypto because they are too strict on regulations and trying to control crypto. But maybe my guess is wrong because I don't know what the US government really wants.

But even if the regulations in the US are stricter than in other countries, it won't hinder the movement of crypto because crypto doesn't belong to the US. It belongs to everyone who wants it. So there will be countries that will allow and accept crypto and allow their citizens to use crypto.

[cryptoaddictchie]

Do you think crypto's ever-rising popularity will lead towards more regulation by the US? Or will things settle up a bit? Do you believe the US is being too hard on crypto? If not, which other country (or countries) is worst? Your input will be greatly appreciated. Thank you.

I believe they are restricting a lot of things on crypto when in fact US is the worst when it comes to crypto handling. I believe crypto is way better before than now. A lots of news or even frameworks created to govern crypto unlike before they are just ignoring it and even dont care about it. Thats where you can see how they are so eager to have some cut of the growing marketcap of every projects.

[avikz]

Ever since the Biden administration proposed a regulatory framework for crypto/Blockchain tech, government agencies have been targeting platforms and users more aggressively. First it was the sanctioning of the Tornado.Cash mixer, and now the SEC wants to classify all PoS coins as securities. They seem to be more against Ethereum than Bitcoin or any other cryptocurrency for that matter. There was a case between the SEC and Ripple, but thankfully, it didn't turn out to be a huge win for the government agency. Compared to the previous administration, I think the current administration is taking crypto too seriously.

Do you think crypto's ever-rising popularity will lead towards more regulation by the US? Or will things settle up a bit? Do you believe the US is being too hard on crypto? If not, which other country (or countries) is worst? Your input will be greatly appreciated. Thank you.

US is too hard on everything, globally! Whenever they see an oil-rich country, they send military there to save that country from their own administration like what happened in Iraq Or Syria. The same is happening with crypto.

As charity begins at home, they are first targetting their home users and then they will launch a global attack on crypto companies doing business with US citizens and then the countries with most mining operations.

Please note - the above post is imaginary and any resemblance with the reality is a pure coincidence.

[BRINIRHA]

they really seem to be too hard on crypto. the measures and policies they issue always corner cryptocurrencies. for some reason, but they seem to have their own fear of cryptocurrencies. or maybe because they are a little late in keeping up with crypto developments. so they are like parents who cannot accept technological developments. but sooner or later I believe they will accept crypto. because their people are using crypto more and more regardless of what policies they take.

[wheelz1200]

Ever since the Biden administration proposed a regulatory framework for crypto/Blockchain tech, government agencies have been targeting platforms and users more aggressively. First it was the sanctioning of the Tornado.Cash mixer, and now the SEC wants to classify all PoS coins as securities. They seem to be more against Ethereum than Bitcoin or any other cryptocurrency for that matter. There was a case between the SEC and Ripple, but thankfully, it didn't turn out to be a huge win for the government agency. Compared to the previous administration, I think the current administration is taking crypto too seriously.

Do you think crypto's ever-rising popularity will lead towards more regulation by the US? Or will things settle up a bit? Do you believe the US is being too hard on crypto? If not, which other country (or countries) is worst? Your input will be greatly appreciated. Thank you.

US has never banned crypto so I don't think they are the harshest by any means. They aren't even really against it they just want theor money.  Like a good mob as long as you pay you can play.  The reason they fear crypto because they don't know yet how to tax it.  When they iron that out it will be smooth sailing.

[Abiky]

US has never banned crypto so I don't think they are the harshest by any means. They aren't even really against it they just want theor money.  Like a good mob as long as you pay you can play.  The reason they fear crypto because they don't know yet how to tax it.  When they iron that out it will be smooth sailing.

If the US government is able to tax crypto successfully, then everything will be "peaches and cream". Until then, expect a heavy hand against the revolution from the world's biggest superpower. You can't expect the government to ignore something that's been rising in popularity at a very fast pace. At least, the US hasn't banned crypto from mainstream use. Other countries like China and Russia don't want to welcome crypto with open arms because that would mean losing power over their own people.

It's only been 13 years since Bitcoin's inception, but there's still a long road ahead before the crypto/Blockchain industry becomes fully adopted by everyone worldwide. Regulations are just the tip of the iceberg. After crypto is "properly" regulated, all that's left is for institutional investors and VCs to join the game for things to start kicking. As long as the government doesn't go too far, there should be nothing to worry about. Just my thoughts

[Tessyb]

We need to understand that cryptocurrency is gaining more popularity and strength as the days go and it would take only a blind government to be unaware about this level of increase and popularity that cryptocurrency has gained over the years. In my opinion, the US government is trying to get their own share from the massive wealth of the cryptocurrency industry by bringing participants into the tax net and ensuring that regulations are attained to checkmate the excesses of users and developers.

[Bitstar_coin]

I think the government are only taking the necessary measures to ensure things are done right. It is already a known fact that government regulations will come if there will be adoption. US government imo is not doing anything different from what other countries government will do. Government will not embrace crypto without introducing regulations.

[Tony116]

We always want cryptocurrencies to become more popular or even mass-adopted, regulations are inevitable. The government is still the one who runs and manages the whole world so don't expect something to set us free without any government control. Bitcoin can only help a part of us, not all of us.

The US is the number 1 country in the world and they are like a leader, once they make the regulations then all the rest of the countries won't want to go against them. I believe the regulations will not stop until they feel satisfied.

[TheUltraElite]

I think you already know, there is a 30% tax of crypto transactions in India, I think that is pretty big and it has culled the Indian crypto communities enthusiasm in crypto trading and led to OTC deals being done more.

Comparing to that I think the US has better options for traders in their country. There are so many crypto companies based on US and Europe while few from India.

Even BTC ATMs exist in max number in US compared to any other country as shown in https://www.bitcoin.com/bitcoin-atm/

So I think every country is being hard on crypto from their own side. But we are a resilient community and have to deal with hardships just like any revolutionary.

[yhiaali3]

The United States is the worst on cryptocurrencies and maybe China will come after them, the United States by nature loves control and has a desire to control the whole world and cryptocurrencies are out of control due to their decentralized nature, so I expect the United States to continue its hostility towards cryptocurrencies and will issue more Strict regulations in an attempt to completely control cryptocurrencies. But I am sure it will fail in the end.

[mich]

My friend who lives in the US tells me that he is nervous about buying and selling his crypto. With the SEC and US president Joe Biden’s administration wanting people to pay taxes on their cryptocurrency things are very up in the air for taxes.
Especially if Biden’s administration is working with the SEC to create a crypto tax law, it would not be good for any US customers. My friend told me that with his losses and his gains he may only be able even out his investment.

[Abiky]

We always want cryptocurrencies to become more popular or even mass-adopted, regulations are inevitable. The government is still the one who runs and manages the whole world so don't expect something to set us free without any government control. Bitcoin can only help a part of us, not all of us.

The US is the number 1 country in the world and they are like a leader, once they make the regulations then all the rest of the countries won't want to go against them. I believe the regulations will not stop until they feel satisfied.

There's nothing we can do other wait and see what happens regarding governments' stance towards crypto. As you've said before, regulations are inevitable. You can't expect something popular to slip under the radar of the government. The US knows how successful crypto has been since day one, so it's trying to "legitimize" it by regulating it as much as possible. This is good in the sense that it reduces the level of criminal activities in the industry, but it's bad because people will be forced to submit their ID to be able to participate in it.

Of course, there are decentralized exchanges and other means which you can access crypto without KYC. But it's something not everyone is willing to do due to its high level of difficulty. Giving out your personally-identifiable information to centralized exchanges is a much easier way to get access to the world of crypto/Blockchain tech with Fiat (in this case, the US Dollar). The US is just beginning to regulate crypto seriously, so let's give it some time to determine whenever it's being too hard on this emerging industry or all the other way around. Other countries like China and Russia are faring worse that the US, so I guess current regulations aren't so bad after all. Just my opinion

[Bananington]

Do you think crypto's ever-rising popularity will lead towards more regulation by the US? Or will things settle up a bit? Do you believe the US is being too hard on crypto?

There is a need for the government to put an eye on the crypto sector as the number of scam cases are increasing and the number of people setting up and promoting scam tokens is also on the rise. I don't think the United States is being too hard on crypto, they are just trying to protect citizens from dubious projects and I see nothing wrong there. If they make the crypto space difficult for scammers to flaunt dubious projects, it will be of tremendous benefit to us.