Government's actions against crypto

[indo1]

I'm sure government and crypto are always at odds, that's very natural. because crypto offers us financial freedom while making it very difficult for the government of a country to regulate the entry and exit of finances according to what they regulate. but I heard that some countries have legalized crypto at length, some have actually banned it. I think this is a kind of thing that the government still can't accept.

[sana54210]

Governments can't shut down crypto due to the way it's designed. But they can pressure people to stop using them for good. The person ultimately decides if he/she wants to use crypto or not. In countries where it's illegal to use crypto, one must be aware of the consequences of doing so. By following the necessary safety measures, you could help avoid getting flagged by the government. What really matters is that crypto stays decentralized and censorship-resistant forever. As long as the community keeps it that way, we should have nothing to worry about.

Ultimately, crypto will end up being regulated all across the world. That's because governments wouldn't want to miss the huge taxation benefits this nascent industry provides. Who knows if this will take crypto all the way to "Mars"? Just my thoughts

That is basically shutting down bitcoin if you think about it. I am not saying that it will not be possible to use it, but if all governments all around the world banned using or owning or trading all together then we are going to end up with something terrible and the price of bitcoin will drop down to incredible lows.

However, I do not think that it will happen, I believe that we are going to see the price stay the way it is right now and the movement will not change much. I think most nations look at it decently and we are not at a bad place at this moment .I understand that some people think that it is going to change much but I do not agree to that at all, it is really going to be a different situation to begin with and governments will be more and more open to it.

[terencio]

The US government needs to reconsider its approach to the cryptocurrency market. Cryptocurrency is a promising and innovative technology that can benefit the economy and society, but it also requires some regulation and oversight to prevent fraud and abuse.

Crypto is the future of money and innovation and the govt. should support the people involved in crypto because we deserve respect and support, not threats and sanctions.

[doomloop]

since long ago state government and crypto they are both very difficult people to get along with. they are always in conflict because they have their own financial system. traditional banks with full support from the government, while crypto relies on people power as financial freedom that cannot be carried out by banks. I think even now they haven't had a solution to go hand in hand. instead the banks are taking blockchain and maybe they should get rid of crypto.

Well, this rivalry will continue for decades to come since central authorities wouldn't give up their throne and will keep fighting against cryptocurrencies so that they can stay on top of them, and people keep using their services for financial activities and they keep monitoring their activities to know how and where the money is being spent.

If they could, they would probably ban cryptocurrencies and halt their usage forever but since they know it's not possible, they will keep trying to regulate it and make it run the way they want it to otherwise they will impose closure of services, etc.

[nara1892]

The US government and the cryptocurrency market are having a lot of ups and downs, and it seems like they're headed towards a very important conflict. This conflict will determine the fate of many people and companies involved in cryptocurrency. They might have to shut down or move to a different country.

I think you are overthinking. The government really does not have much control over crypto but they rather use the power on the people to coax them into not using crypto or put crypto in a negative light. However you can continue to use crypto as you wish. Just that the conversion of Fiat and crypto and spending of crypto might become difficult. Still what I have seen governments are diplomatic and they rarely do something that makes the common people go completely against, rather they will try to get taxes from the people.

I agree with this. The government under no circumstances will be able to kill crypto in this case even if they use their power to block things like that it won't really have much effect. They are aware of that, so they are looking for other conditions in a way that weakens them, even though they cannot stem it as a whole, but they can still weaken it in several ways, such as mobilizing several media outlets for bad news about crypto and so on.
This will not really affect those of us who already believe in crypto and are in it, but it will be a different story when it is given to ordinary people who of course will have a bad mindset from the start.

[Rasa nanas]

since long ago state government and crypto they are both very difficult people to get along with. they are always in conflict because they have their own financial system. traditional banks with full support from the government, while crypto relies on people power as financial freedom that cannot be carried out by banks. I think even now they haven't had a solution to go hand in hand. instead the banks are taking blockchain and maybe they should get rid of crypto.

I don't understand why this is happening,  crypto and banks have different products and different functions. fiat currency is a product of banks and bitcoin and altcoins are products of crypto. fiat money and crypto currency have different functions, fiat money is used for payment and crypto currency is used for investment.

[Abiky]

Well, this rivalry will continue for decades to come since central authorities wouldn't give up their throne and will keep fighting against cryptocurrencies so that they can stay on top of them, and people keep using their services for financial activities and they keep monitoring their activities to know how and where the money is being spent.

If they could, they would probably ban cryptocurrencies and halt their usage forever but since they know it's not possible, they will keep trying to regulate it and make it run the way they want it to otherwise they will impose closure of services, etc.

You've said it yourself. This will be an ever-lasting battle between between crypto and mainstream governments. There's nothing we can do about it other than to keep fighting for privacy and freedom. Despite the volatility, crypto is better than Fiat because of its decentralized and censorship-resistant design. That's the main reason why governments hate it. On one hand, they want to tax crypto-related transactions. But on the other hand, they want to ban it.

The US has taken an aggressive stance against crypto mainly because of the FTX collapse and concerns about using the tech to avoid sanctions. That, and also the fact that the country doesn't want crypto to overtake the US Dollar in the future. Expect other countries to do the same to protect their dominance/control over people and the economy.

Governments won't be able to shut down crypto, but they will be able to reduce its dominance by targeting centralized exchanges and service providers. This will "cripple" crypto's ability to replace Fiat in the future. I'm fine with that as long as crypto works as intended. Just my opinion

[naira]

The US government and the cryptocurrency market are having a lot of ups and downs, and it seems like they're headed towards a very important conflict. This conflict will determine the fate of many people and companies involved in cryptocurrency. They might have to shut down or move to a different country.

It is no wonder that the US Government and the cryptocurrency market often have a significant impact on prices because the United States is the only mecca in running the biggest economic activities as well as inflows of investor funds. And when the US government does not give permission more freely regarding the rules and laws of cryptocurrency then during that time the stability of the crypto market will experience an impact. Thus the formation of the SEC tries to represent the voices and ideas of the government to provide a way even though in the end the SEC's position is unfavorable. Not a few exchanges have been sued many times and I think the SEC's intentions are being unfriendly.

[Doan9269]

The US government and the cryptocurrency market are having a lot of ups and downs, and it seems like they're headed towards a very important conflict. This conflict will determine the fate of many people and companies involved in cryptocurrency. They might have to shut down or move to a different country.

There will always be this kind of threat from government on cryptocurrency especially the altcoins because they are centralized which that alone subject them to regulations under government, there's also much ongoing scam related activities associated with these cryptocurrencies except for bitcoin, why they can not be a threat to the bitcoin network in cryptocurrency is because bitcoin is already decentralized from day, they can't regulate anything about bitcoin unlike other cryptocurrencies.

[carrie_white]

indeed many governments are against crypto in their countries, but there are still very many governments that even support crypto in their own countries, after all, I don't think the government can completely ban crypto in their countries

[Patrol69]

First of all, the reason for such a decision by the United States may be that the country is not able to properly regulate cryptocurrencies. Since cryptocurrencies are out of their control and people are using cryptocurrencies a lot, their countries may be missing out on huge amounts of tax. And I saw a report that revealed that a large number of people are converting their money into Bitcoin. And it is also said that many people have bought bitcoins with their black money, maybe the US government is going to take such a decision considering these things.

[Argoo]

[quote author=poodle63

and do remember, when china banned crypto, the market continue to survive. so far, we have seen that any country, big or small economy will not be the reason for crypto to disappear. there will be more countries that are crypto friendly and willing to stake in this market. and besides, it may only take regulation not total ban of crypto market.so for me, regulation may also have positive side when it comes to adoption as people will trust more on this market. some are avoiding this market because of so many scammers on the loose.

The process of further regulation of cryptocurrencies by states is inevitable, but it will be very complex and lengthy, since the states have not yet finally decided how to treat it.
The situation with cryptocurrency in China is very difficult, since the ban was only from the People's Bank of China. The government and legislators of China, as far as I know, have not issued any bans on cryptocurrencies. Therefore, there the cryptocurrency can still walk relatively freely.
Regulation has both positive and negative effects on cryptocurrencies. It all depends on how reasonable it will be.

[dlightag]

Cryptocurrency industries market has come to stay in difference countries, which government can't stop crypto but rather look for to implement transaction fees charge's to crypto users through local bank transaction, and that was one of the one major reason government is against crypto, by taken necessary action not to buy or sell directly from government approved local bank, but rather peer to peer p2p transaction has make it more easier for crypto trader, Let know that government can't stop crypto as long the internet exist.

[Maslate]

since long ago state government and crypto they are both very difficult people to get along with. they are always in conflict because they have their own financial system. traditional banks with full support from the government, while crypto relies on people power as financial freedom that cannot be carried out by banks. I think even now they haven't had a solution to go hand in hand. instead the banks are taking blockchain and maybe they should get rid of crypto.

And it will still remain like that in the few next decades, we don't know what will happen down the road, there might be a chance, but I don't really think that there will be a point in the future that the government will support 100% the cryptocurrencies especially the bitcoin where they have no direct control because it is a decentralized crypto. Thus, conflict will remain and we don't have to worry about it because bitcoin is quite untouchable.

[judeafante]

The US government and the cryptocurrency market are having a lot of ups and downs, and it seems like they're headed towards a very important conflict. This conflict will determine the fate of many people and companies involved in cryptocurrency. They might have to shut down or move to a different country.

This is not new this has been going on since Bitcoin came into existence but we are still winning, there's a lot of struggle but the community keeps holding on and many of those who are adopting Cryptocurrency are big people and this is what makes adoption easy, and this what makes the government action limited, especially to democratic countries, after ten years only the ultra communist and totalitarian countries are not yet adopting Cryptocurrency, but they will soon be.

[capedbaldy]

The US government and the cryptocurrency market are having a lot of ups and downs, and it seems like they're headed towards a very important conflict. This conflict will determine the fate of many people and companies involved in cryptocurrency. They might have to shut down or move to a different country.

This is not new this has been going on since Bitcoin came into existence but we are still winning, there's a lot of struggle but the community keeps holding on and many of those who are adopting Cryptocurrency are big people and this is what makes adoption easy, and this what makes the government action limited, especially to democratic countries, after ten years only the ultra communist and totalitarian countries are not yet adopting Cryptocurrency, but they will soon be.

Cryptocurrency users are increasing from various countries even though country regulations still prohibit the use of crypto, the important point is that any regulation cannot prohibit the right of people to choose to use kirpto and they will not be able to detect crypto users in that country, there are always ways to transact in crypto trading and even withdrawals with p2p, so the crypto community is getting bigger even though the government has not allowed the use of kirpto for any purpose.

[someone703]

You seem to be thinking too much about this issue. The relationship between traditional financial systems, governments, and cryptocurrencies is indeed complex and adversarial. The power of cryptocurrencies gives citizens transparency and financial freedom, while banks and government-backed financial systems want to control people their way. So the problem has persisted until now, and no suitable solution has been given. Everyone wants to be the winner, and it is very difficult to eliminate the opponent, so it is better to put this problem aside and focus on something else.

[fauzan Ichsan]

The US government and the cryptocurrency market are having a lot of ups and downs, and it seems like they're headed towards a very important conflict. This conflict will determine the fate of many people and companies involved in cryptocurrency. They might have to shut down or move to a different country.

This is not new this has been going on since Bitcoin came into existence but we are still winning, there's a lot of struggle but the community keeps holding on and many of those who are adopting Cryptocurrency are big people and this is what makes adoption easy, and this what makes the government action limited, especially to democratic countries, after ten years only the ultra communist and totalitarian countries are not yet adopting Cryptocurrency, but they will soon be.

Cryptocurrency users are increasing from various countries even though country regulations still prohibit the use of crypto, the important point is that any regulation cannot prohibit the right of people to choose to use kirpto and they will not be able to detect crypto users in that country, there are always ways to transact in crypto trading and even withdrawals with p2p, so the crypto community is getting bigger even though the government has not allowed the use of kirpto for any purpose.

it is this important point that keeps cryptocurrencies growing from time to time, even though the government has not allowed it. but unfortunately the government recommends KYC for local exchangers, and of course there is a tax that must be adhered to for state income. but even though experiencing the global economic crisis this did not seem to have a major impact on the development of cryptocurrency, instead more people took advantage of the price decline to invest

[Bolivar_Tony]

The government are really pushing hard to regulate the crypto industry which for me is a good thing and I believe the moment crypto industry is properly regulated, more people will join the crypto industry and it will become a win win situation, with the way crypto is setup, Governments are not comfortable with it, Governments wants proper monitoring of cryptos holders, to know their KYC and what they Hold and what they spend their money on, that's they can prevent, money lundering and other negative things people do with money.

[Pierre 2]

I feel like world governments were going to be lot more kind to crypto businesses. Global economic crisis hit governments hard so pro-crypto-regulation people are sort of silenced. Instead we started to see anti-crypto politicians more. Blaming everything on Bitcoin and crypto is a lie that everyone knows. Making governments or even law people believe crypto is actually nice thing will take long time sadly. I think American government handles it okay tho.