Government's actions against crypto

[user210822]

China, Russia and Thailand are countries that are very friendly to crypto currency users,

Man, that is quite a bold statement. In Mother Russia they use to say: "don't you dare to ask what country may do for you, better think how much you owe to your country's supreme leader!"

if the US bans currency crypto money maybe it will become a weapon that can destroy themselves

Watching a few TV Business Channels broadcasting from the US only I see bitcoin ratings alongside US Dollar and main Top Exchange markers. Which shows relation towards crypto from business society in US only. Don't trust my words - see for yourself!

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[Aliem Nur]

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.

In my opinion, it doesn't matter if the project from the US moves to another country that is open to cryptocurrencies,
because in the US crypto has really become very tight and even XRP has to face the SEC to operate again,
yes, if it has to be like that then China can become a place for projects in the US if they want to move,
because China has legalized Bitcoin and cryptocurrency starting June 1st 2023.

[qwizzie]

https://cointelegraph.com/news/binance-to-delist-privacy-tokens-in-france-italy-spain-and-poland

Starting from June 26, privacy tokens like Monero or Zcash will no longer be available for trading for Binance customers in France, Italy, Poland and Spain.

A spokesperson for Binance told Cointelegraph that the new restrictions affect a total of 12 coins. The affected tokens include Decred (DCR), Dash (DASH), Zcash (ZEC), Horizen (ZEN), PIVX (PIVX), Navcoin (NAV), Secret (SCRT), Verge (XVG), Firo (FIRO), BEAM (BEAM), Monero (XMR) and MobileCoin (MOB).

“While we aim to support as many quality projects as possible, we are required to follow local laws and regulations regarding the trading of privacy coins, to ensure we can continue to serve as many users as we can,” a representative of Binance said

[KellyHands]

Most government of nations are having conflicts with cryptocurrency companies because cryptocurrency is offering the flexibility that they fear would reduce their power and operations towards the citizens of their country. The fact that fiat would be unfashionable is scary to government and they're trying as much as possible to clamp down on cryptocurrency calling cryptocurrency scam. In all their allegations and effort, cryptocurrency is still Striving and would keep striving.

[Tessyb]

I'm personally not surprised when I hear of government having conflicts with cryptocurrency related companies. The issue is that the government needs to start thinking differently. They should devise means of taking advantage of the cryptocurrency industry and getting taxes or something beneficial from cryptocurrency companies instead of conflicts.

[Abiky]

In other countries, such as Japan and Switzerland, cryptocurrency adoption has been received more openly. They have issued clear regulations to facilitate the growth and development of the cryptocurrency market in their countries and there are also countries that prohibit or restrict cryptocurrencies, such as China which has banned exchange activities and Initial Coin Offerings (ICOs).

However, when viewed as a whole, government actions against cryptocurrencies are still very diverse. The sustainability and future of cryptocurrencies is greatly influenced by how governments and markets can strike the right balance between necessary regulation and supporting market innovation and growth.

It's like a competition. The countries who adopt crypto/Blockchain tech first  will be the ones ahead of the others. Crypto/Blockchain tech has become too big to fail and can't be avoided by mainstream governments. Even China considered turning Hong Kong into the next crypto hub. I think Russia will change its mind soon, especially when its economy is crippling because of the sanctions. We might live in a future where every country will accept crypto/Blockchain tech with open arms as long as taxes are paid in return. At least, that's the dream every crypto enthusiast has.

The industry must work together with mainstream governments to ensure a sustainable growth for both parties. With how things have been progressing lately (despite the US taking an aggressive approach towards crypto/Blockchain tech), I'm confident crypto will live alongside Fiat currencies for generations. Just my thoughts

[Fredomago]

In other countries, such as Japan and Switzerland, cryptocurrency adoption has been received more openly. They have issued clear regulations to facilitate the growth and development of the cryptocurrency market in their countries and there are also countries that prohibit or restrict cryptocurrencies, such as China which has banned exchange activities and Initial Coin Offerings (ICOs).

However, when viewed as a whole, government actions against cryptocurrencies are still very diverse. The sustainability and future of cryptocurrencies is greatly influenced by how governments and markets can strike the right balance between necessary regulation and supporting market innovation and growth.

It's like a competition. The countries who adopt crypto/Blockchain tech first  will be the ones ahead of the others. Crypto/Blockchain tech has become too big to fail and can't be avoided by mainstream governments. Even China considered turning Hong Kong into the next crypto hub. I think Russia will change its mind soon, especially when its economy is crippling because of the sanctions. We might live in a future where every country will accept crypto/Blockchain tech with open arms as long as taxes are paid in return. At least, that's the dream every crypto enthusiast has.

The industry must work together with mainstream governments to ensure a sustainable growth for both parties. With how things have been progressing lately (despite the US taking an aggressive approach towards crypto/Blockchain tech), I'm confident crypto will live alongside Fiat currencies for generations. Just my thoughts

Yes, all those big super nations will adjust on how they will work with crypto, with the emerging growth of people who are now willing to take the risk and step into investing with this channel, I see that even those big nations will have no choice but to try not to suppress but find ways to make sure that they will have a good advantages and make a good use of this market.

They need to adjust and let the technology continue to develop. We will continue to see crypto working alongside with fiat currencies just like what you said.

[kaseygriffin]

Each country will have a different approach to cryptocurrencies, and some have been more open to them than others. Although the US really does not like and is trying to oppose cryptocurrencies, over time many countries will realize the great potential that cryptocurrencies bring and try to join this game. The US will only outperform other economies. So let's see how they will view this issue as the cryptocurrency boom expands.

[Abiky]

Each country will have a different approach to cryptocurrencies, and some have been more open to them than others. Although the US really does not like and is trying to oppose cryptocurrencies, over time many countries will realize the great potential that cryptocurrencies bring and try to join this game. The US will only outperform other economies. So let's see how they will view this issue as the cryptocurrency boom expands.

The US wants to protect the USD, so it's in its best interests to treat crypto with an "iron fist". I wouldn't be surprised if other countries do the same, albeit for a short period of time. Once they realize crypto can't be stopped, they will have no choice but to fully embrace it with open arms. This is only the beginning of a long journey for the crypto/Blockchain industry.

It's a good thing most cryptocurrencies are decentralized, or mainstream governments would've destroyed them already. I have a feeling every country in the world will adopt crypto as long as taxes are paid in return. We can't predict the future, so let's hope for the best. Just my opinion

[terencio]

I agree that the US government and the cryptocurrency market are facing a lot of challenges and uncertainties. I think the government should adopt a more balanced and supportive approach towards cryptocurrency, rather than trying to stifle it or regulate it too harshly.

[Jocuserious]

It's really old talking because my country has also this problem for not legal crypto currency. We are crypto user but everything is hide in our life even no others ways to use crypto. I only enjoy profits from crypto and sell local people. Not control plan in crypto that's why government won't support.

[Inspiron14]

The US is indeed very strict for cryptocurrencies, even there before the election, many people there require election candidates to support Bitcoin,
but that is a difficult thing because indeed the approval of cryptocurrencies there must be with the SEC as well,
especially since the SEC currently still hates crypto currency, I remember how the representatives of Ethereum were asked by members of the SEC and they were absolutely nuts.

[timoshani]

It's really old talking because my country has also this problem for not legal crypto currency. We are crypto user but everything is hide in our life even no others ways to use crypto. I only enjoy profits from crypto and sell local people. Not control plan in crypto that's why government won't support.

Any government wants to regulate the financial market. This is expected since state control has long been introduced into the field of ordinary electronic money and transactions. If the crypto market were used only for good purposes, then any country would like to have control over it or partial influence. Now it is not a problem to track any transaction in the crypt, this is what scares no less than state control. And of course, not everyone wants to pay taxes based on their earnings. But we forget that we use the resources of the country, and therefore we must pay. Even electricity is banal. Therefore, one must come to terms with state control in the world of crypt. It is bad that this contradicts the original idea of ​ ​ the crypto of the world, which was created by Satoshi Nakamoto.

[deean_3one]

The crypto industry highlighted a number of US government policies that were considered too restrictive for them. Is there a possibility to move crypto out of the US?

[v3liana]

Cause crypto means less money in their greedy pockets. They would not have any issue with crypto if they already controlled and regulated it. Governments rule on credit -> Banks give credit -> Banks against crypto.

[Velemir Sava]

If the OP meant XRP, I think that's one good example. But I'm not defending the government and I think the government also has the right in terms of oversight to protect the rights of consumers, especially citizens in particular and other users in general. Only. My hope here is the importance of good coordination between Investors, Traders, Financial Institutions, Regulatory Bodies and the government to make this crypto space an invited guest as well and it needs to not become a crossroads for other financial institutions so that people can choose. Which one is the easiest to use and the safest. Yesterday's incident is an example as you posted, Government is taking policy again towards crypto space.

[Bolivar_Tony]

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.

They might not shut down, they will likely move to a crypto friendly countries, seriously SEC is hurting the investors with their actions and inactions, Many people lose their money because of the news, my investment decreased a lot because of the news, I think they should either leave crypto alone or develop rules and regulations, these crypto companies are willing to abide 

[ahoenk]

its been since day one the governance always fight against crypto and they never won. they only will always scared people and holding new comers to come in to crypto world. but every cycle they will lose again. watch and screen shoot this. another thing i understand now is " this is why satoshi nakamoto hiding. look at BNB dump when binance and CZ sued by SEC.

[gaston castano]

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.

You're correct that governments around the world are increasingly interested in regulating the crypto industry. While the specific approaches may vary from country to country, many governments are recognizing the need for regulatory frameworks to address concerns related to financial security, consumer protection, money laundering, tax evasion, and other illicit activities.

[Abiky]

Cause crypto means less money in their greedy pockets. They would not have any issue with crypto if they already controlled and regulated it. Governments rule on credit -> Banks give credit -> Banks against crypto.

Exactly. That's the plan. Regulate and control crypto to limit its ability to cripple Fiat currencies in the future. This way, both governments and central banks win. Crypto will stay decentralized, but it will never be able to replace Fiat. The majority doesn't care as they're only into crypto because of the money. Not because they believe in it.

At least, we know crypto can't be stopped no matter what. This is only the beginning, so hold on tight as this is going to be a wild ride. Who knows if getting in early would make you filthy rich in the future? Just my thoughts