Government's actions against crypto

[user210822]

Not all governments do things like that, big countries like China and Russia now know that the benefits of Bitcoin for government are enormous,
even these two countries have legalized crypto currency, it's just that the US still can't legalize it, maybe because of the SEC,
I don't know for sure Bitcoin will be the future money of the world.

If you think that Russia and China are there to take care of their citizens you're way too much mistaken. They really do take care about preserving the Government and most of the time misplace it for the Country. World and people has nothing to do with their activity in the field.

true, the government was only concerned with the people who were in power at that time, with policies that were sometimes not in accordance with the state of society so that it was too burdensome for the people,
here crypto can help people improve financially but who knows how long?
because I'm afraid that crypto will lead to a monopoly on whales, small crypto owners will only be spectators like fiat

Very much true!

So where can I find news that contains China and Russia legalizing bitcoin?
Bitcoin to be the world's future currency? i think it's impossible. The 3 big countries you mentioned namely America, Russia and China will never let this happen. America wants the USD to remain the strongest currency but Russia, China and 3 other countries that are members of the BRICH want to create a counter currency for the USD.

There's no such news whatsoever! And by the way your mistape of BRICS is way too close to what Freud was warning about! Just joking!

It may be nothing more than just drama to keep away as much people from crypto as possible. I bet the US and other countries are secretly buying, while they criticize the industry in public. We should not be fooled by governments' propaganda against crypto by doing our own research about it. This is the future of money, even though things seem bleak right now. By buying crypto, you're essentially buying a piece of freedom.

In the worst case scenario when most (if not all) of the world's governments ban crypto, we could use other methods to gain access to it. That's thanks to the decentralized nature of crypto/Blockchain tech. Projects that are centralized will ultimately die, as they will be unable to resist government oppression. Who knows where the future will lead us? Just my thoughts

Indeed we have to do much more research. And keep an eye on the Government!

Truth be told for crypto to go full adoption, it must be properly regulated by the government, this will help the ecosystem to be safe and secure, If there is no regulation, people will suffer the consequences and government have rights to protect their citizens, but what i don't like is the approach they are using in fight the industries, a responsible government that cares for their citizens will dialogue and find a lasting solution and provide a clear guideline crypto should follow, I believe we will get to that point some day.   

The only thing left is to find a habitable planet with such government. And that takes REALLY big time!

Regulation of cryptocurrency allows to attract money in the economy of the country from cryptocurrency startups. Regulation protects the rights of investors and allows to develop cryptocurrency startups that are really necessary and useful for people.

All such regulations were put to use starting about 6000 years back. We still didn't learn the lesson. Economy can and should regulate itself! All other theories are man-created. Money idea was created by man - not the government or some great economist of the past. Money is trust! Trust can not be regulated. Either it exist or not. In blockchain we trusted over 1 trillion over the time being. Not a single penny was delivered by government of any country, except the speculative deals thrown to the market by DEA and FBI recently... Try to dispute that!

The sec and the us government do not have control of the whole world, in their part of the world they try to stem the expansion of crypto and to keep financial control to traditional banks but it is a losing fight and they know it

Goverments want to control their sitizens. One of the reason for it is a lot of criminals around the cryptocurrency. It is necessary increase the safety of cryptocurrency. Also people want that people will pay taxes from their crypto incomes.

So far amount of criminals in Government overweight the one among their Citizens in several decrees. And that is affirmed by International Criminal Court for some of them...

...
Government are very powerful and if they decide to increase their attack on cryptocurency, it would have very negative effects on the market.

If only we don't shake the firm land out of their feet and turn our trust in blockchain against their backup - police, special agencies and countless others! That is why when I started my journey in crypto world my first idea of it was to apply its uniqueness and fungibility to be used in courts! Just try to imagine what could be done worldwide if laws couldn't be approved without will of people! And that could be done thanks to blockchain... No dirty "Digital Votes", no other ballots manipulation could be forfeited in real blockchain. That what scares Government all over their guts! They are afraid to become lost loosers not able to be heard by anyone in a world of crypto-freedom!

[Abiky]

I'll go with the possibilities that Russia will start reconsidering crypto, with how the western sanctions' affecting them they can resort to crypto, we never know if they already doing it, it might be possible that N.Korea, China and Russia are already doing it in exchange of what they needed and to stay being un-noticed they can use crypto as a channel for any transactions.

With such possibilities, the pressure from the US might change the direction of how they are seeing crypto, and like what you mentioned with the numbers of investors and traders, the chance is high to have a successful run.

If the US sees sanctioned countries using crypto as a means to evade restrictions, it might resort to make crypto illegal for good. Or it will tighten regulations until investors find crypto/Blockchain tech unappealing. I guess that's why the SEC (US regulatory agency) has been attacking crypto exchanges lately. If "all hell breaks loose", then US citizens will be forced to move to countries that are embracing crypto/Blockchain tech with open arms.

You can see how countries like China and Russia are changing their minds about crypto (especially China). A worldwide ban is very unlikely to happen anytime soon, so lets sit back and enjoy crypto while it lasts. Just my thoughts

[fzkto]

I'll go with the possibilities that Russia will start reconsidering crypto, with how the western sanctions' affecting them they can resort to crypto, we never know if they already doing it, it might be possible that N.Korea, China and Russia are already doing it in exchange of what they needed and to stay being un-noticed they can use crypto as a channel for any transactions.

With such possibilities, the pressure from the US might change the direction of how they are seeing crypto, and like what you mentioned with the numbers of investors and traders, the chance is high to have a successful run.

If the US sees sanctioned countries using crypto as a means to evade restrictions, it might resort to make crypto illegal for good. Or it will tighten regulations until investors find crypto/Blockchain tech unappealing. I guess that's why the SEC (US regulatory agency) has been attacking crypto exchanges lately. If "all hell breaks loose", then US citizens will be forced to move to countries that are embracing crypto/Blockchain tech with open arms.

You can see how countries like China and Russia are changing their minds about crypto (especially China). A worldwide ban is very unlikely to happen anytime soon, so lets sit back and enjoy crypto while it lasts. Just my thoughts

Do you think the US doesn't know that Iran, for example, uses cryptocurrency for international payments? Moreover, the US should ban dollars if it finds out that dollars are used to sell and buy weapons and drugs. Of course, there is little logic in this. Even if the US declares cryptocurrencies illegal, it will have little impact on cryptocurrencies globally. Remember how China banned it, but then for some reason allowed it again. All of this is simply manipulation.

[Fredomago]

I'll go with the possibilities that Russia will start reconsidering crypto, with how the western sanctions' affecting them they can resort to crypto, we never know if they already doing it, it might be possible that N.Korea, China and Russia are already doing it in exchange of what they needed and to stay being un-noticed they can use crypto as a channel for any transactions.

With such possibilities, the pressure from the US might change the direction of how they are seeing crypto, and like what you mentioned with the numbers of investors and traders, the chance is high to have a successful run.

If the US sees sanctioned countries using crypto as a means to evade restrictions, it might resort to make crypto illegal for good. Or it will tighten regulations until investors find crypto/Blockchain tech unappealing. I guess that's why the SEC (US regulatory agency) has been attacking crypto exchanges lately. If "all hell breaks loose", then US citizens will be forced to move to countries that are embracing crypto/Blockchain tech with open arms.

You can see how countries like China and Russia are changing their minds about crypto (especially China). A worldwide ban is very unlikely to happen anytime soon, so lets sit back and enjoy crypto while it lasts. Just my thoughts

Do you think the US doesn't know that Iran, for example, uses cryptocurrency for international payments? Moreover, the US should ban dollars if it finds out that dollars are used to sell and buy weapons and drugs. Of course, there is little logic in this. Even if the US declares cryptocurrencies illegal, it will have little impact on cryptocurrencies globally. Remember how China banned it, but then for some reason allowed it again. All of this is simply manipulation.

Trying to have that power but there's always force and silent minorities that will continue to push for the use of this system, I like your sentiment regarding to how US will treat the system, or if they see someone use USD for transacting illegally are they gonna ban USD? logic will dictate that even there's something behind the system there are people that will discreetly use it and continue to deal using the system.

We are aware how government in different places wanted that control over crypto, but so far they are unable to gain that power to rule everything around this industry.

[Abiky]

Do you think the US doesn't know that Iran, for example, uses cryptocurrency for international payments? Moreover, the US should ban dollars if it finds out that dollars are used to sell and buy weapons and drugs. Of course, there is little logic in this. Even if the US declares cryptocurrencies illegal, it will have little impact on cryptocurrencies globally. Remember how China banned it, but then for some reason allowed it again. All of this is simply manipulation.

The US won't ban the USD just because some countries are using it for malicious purposes. What it will do is sanction those countries to prevent them from using the USD at all. The same thing could happen with crypto. Governments will introduce some restrictions to limit crypto's dominance in the mainstream world. They won't ban it outright because that would mean losing taxes in the long run. Except for some countries whose form of government is socialist/communist. China for once decided to ban crypto, but it changed its mind after realizing its true benefits. Russia is likely to do the same as its economy shrinks because of US sanctions.

No matter what governments decide to do with crypto in the long run, the trend will survive thanks to the way it was designed. With decentralization and censorship-resistance at the helm, crypto becomes truly unstoppable. Who knows if it lasts alongside Fiat currencies for generations? Just my opinion

[Heulahee]

About the crypto making the conflict in different countries is not good though, Although the same situation is in our country that government not want to make the cryptocurrency to be fully possible in the country but some people are trying their best and fighting for the cryptocurrency to be available in it.

[aseprebel]

About the crypto making the conflict in different countries is not good though, Although the same situation is in our country that government not want to make the cryptocurrency to be fully possible in the country but some people are trying their best and fighting for the cryptocurrency to be available in it.

my opinions the government actions against cryptocurrencies are complex and multifaceted. The debate often centers around finding a balance between fostering innovation, protecting consumers, ensuring financial stability, and respecting individual freedoms. It's important for governments to carefully consider the potential impacts of their actions on both the cryptocurrency industry and the broader economy.

[Fredomago]

About the crypto making the conflict in different countries is not good though, Although the same situation is in our country that government not want to make the cryptocurrency to be fully possible in the country but some people are trying their best and fighting for the cryptocurrency to be available in it.

my opinions the government actions against cryptocurrencies are complex and multifaceted. The debate often centers around finding a balance between fostering innovation, protecting consumers, ensuring financial stability, and respecting individual freedoms. It's important for governments to carefully consider the potential impacts of their actions on both the cryptocurrency industry and the broader economy.

They need to balance things in order to judge things the right way, but knowing or witnessing what are the things that they are aiming for this industry, they want to make sure that they have that control which breaking the essence of this technology we don't know how deep the government will try to seek for every resource that they can use in order to penetrate and make that intent to take place.

Only time can tell if how things will be in the future, as of now, we still seeing more people being added or getting interested in playing inside the market, which is good even there's a big risk to take.

[tokyohd]

Generally, Governments want to take action against Cryptocurrency due to potential threats to financial crime, tax evasion, money laundering, lack of regulatory oversight and control over their own financial systems and economies.

[kamvreto]

Generally, Governments want to take action against Cryptocurrency due to potential threats to financial crime, tax evasion, money laundering, lack of regulatory oversight and control over their own financial systems and economies.

Broadly speaking, the government wants to control everything, if crypto is decentralized and cannot be fully controlled by the system, the government will create its own system to regulate crypto space so that they are not ignored and continue to benefit from cryptocurrency. The government has now started to impose a tax on every local exchange, and those who do not comply with the regulations, will be blocked and their access rights revoked. Raises pros and cons, so those who are usually anonymous, have to submit KYC when they want to register for a local Exchange. Regulations on crypto are getting tighter and tighter.

[Roma66]

Some country illegal cryptocurrency.This country government didn't legality cryptocurrency.Some people cryptocurrency used for crime.Than some country restrictions cryptocurrency.Some bad people bad work used cryptocurrency.so government action this user people.Thisbis not effect crypto currency market I hope.

[Abiky]

Broadly speaking, the government wants to control everything, if crypto is decentralized and cannot be fully controlled by the system, the government will create its own system to regulate crypto space so that they are not ignored and continue to benefit from cryptocurrency. The government has now started to impose a tax on every local exchange, and those who do not comply with the regulations, will be blocked and their access rights revoked. Raises pros and cons, so those who are usually anonymous, have to submit KYC when they want to register for a local Exchange. Regulations on crypto are getting tighter and tighter.

These so-called regulations are designed to help protect governments' and big investors' interests. They will drive crypto towards centralization, greatly defeating its original purpose. If we want Wall Street to "pump" market prices all the way to the moon, this would be the way to go. Without regulations, crypto would be operating "under the radar". This means little-to-no mainstream exposure, resulting in lower market prices.

What matters is that crypto stays decentralized so it could stand the test of time. With decentralization + censorship-resistance, governments will have a hard time taking full control of crypto/Blockchain tech. They can regulate centralized exchanges, but they will never be able to enforce regulations at the protocol level. Who knows if governments will give up on their quest of taking down crypto for good? Just my opinion

[Alpha Marine]

Do you think the US doesn't know that Iran, for example, uses cryptocurrency for international payments? Moreover, the US should ban dollars if it finds out that dollars are used to sell and buy weapons and drugs. Of course, there is little logic in this. Even if the US declares cryptocurrencies illegal, it will have little impact on cryptocurrencies globally. Remember how China banned it, but then for some reason allowed it again. All of this is simply manipulation.

You're not seeing it the way the US sees it. You're trying to be logical, they don't care about that. They're are very hypocritical. It's how these countries are. You think the US and other state government have an issue with crypto? No they do not. They have a problem with the fact that they can't control it.
If cryptocurrency was something the government own or at least control directly, it would have been legal tender today.

Trust me, if the US know and have prove that Iran uses cryptocurrency for international payments and they've not done anything about it, that's because there's is nothing they can do. But it's only a matter of time.
If countries begin using crypto to evade sanctions then the crypto community should get ready for more heat from the US government.

[Abiky]

You're not seeing it the way the US sees it. You're trying to be logical, they don't care about that. They're are very hypocritical. It's how these countries are. You think the US and other state government have an issue with crypto? No they do not. They have a problem with the fact that they can't control it.
If cryptocurrency was something the government own or at least control directly, it would have been legal tender today.

Trust me, if the US know and have prove that Iran uses cryptocurrency for international payments and they've not done anything about it, that's because there's is nothing they can do. But it's only a matter of time.
If countries begin using crypto to evade sanctions then the crypto community should get ready for more heat from the US government.

That's certainly true, mate. It's all about control. The fact that most cryptocurrencies are decentralized, makes most governments furious. On one hand, they want to attract investors into the "revolution", while on the other hand, they want to stop people from using it. The US has been acting aggresively against crypto/Blockchain tech lately, especially after the collapse of FTX. Not to mention, both Russia and Iran have been using crypto to circumvent sanctions.

The industry is just starting to blossom, so we should give it some time to mature. The more investors put money into crypto, the faster governments will legalize it. Considering that the vast majority of the world's countries are in favor of crypto, it's likely the industry will be heavily-regulated in the future. I'm fine with that, as long as crypto remains decentralized and censorship-resistant. Who knows if crypto lives alongside Fiat currencies for generations? Just my thoughts

[Biznesmen]

The need for regulation of crypto currencies has become a hub of medium in order to do in all the kinds of black money to be submitted in the form of money laundering. These kinds of activities lead to terrorism funding, but they are outside the ambit of the government, so the government wouldn't be able to know how much the value of crypto currencies is. It has only value because of speculation and not any kind of underlying asset; that is, when it's created an investment bubble, the greater the investment bubble, the higher the risk. So in order to safeguard the entire market, we need some kind of regulation. Nowadays, governments are starting to discuss it, even in the latest G20 submit.

[Kelward]

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.

You forgot about another one choice which mostly company involved with cryptocurrency will do when this matter happen, they will choose to not involved with cryptocurrency anymore. Why should a company choose to shut down when they had built it for many years? move to a different country isn't simple as you saying.

Government's only take action against of privacy oriented crypto, so for ETH, BNB, USDT which is centralized coin, they can cooperate with government and choose to follow the government's regulation.

I think that the US government and most governments are not comfortable with cryptocurrency decentralization, and they will fight them with different unfavorable regulations to frustrate them. Government is about centralization, so having a central control that can monitor the activities and movements of financial transactions is probably their aim, but decentralized crytocurrency does not guarantee this access.

I frankly don't know when this will end, because it's the same thing in my country, where the CBN (central bank of Nigeria) has banned banks from facilitating crytocurrency transactions. This has significantly affected the adoption of crypto in the country, because many people mistakes the CBN ban to mean that crytocurrency is illegal in the country. I believe that no matter how governments try and fight crypto companies, they are here to stay because the awareness of crypto is still growing stronger, and nobody can stop decentralization.

[Sophokles]

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.

The USA is not the whole world though it is the most influential country economically. What will happen if they ban crypto or regulate crypto? Some projects will relocate their base of operation and some will change their business model so that they can work under the regulation. No project doesn't want to abandon the vision and money they invested in it. China banned bitcoin mining a few years ago. So did bitcoin mining stop? They just relocated and the same thing will happen if the government takes any harsher measures towards crypto.

[batang_bitcoin]

One day, all of those restrictions and strictness will come to an end. How? When this market is entirely huge already and they cannot ignore to be strict with money flowing into their country. You see big exchanges fleeing on their market for being ass to them because of the policies that they can widen and loosen the strictness of it. We don't mind them, they'll eventually get back and be happy again to show the world that they are a crypto friendly country that despite the bans and being strict that they are implementing, they cannot just ignore the growth of the crypto market.

[Samlucky O]

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 don't think if the conflict the US government have on crypto currency will results to shutdown or even moving to another country. Who is moving? And where to? Several contries has had similar issue of crypto currency being bullied but I think they are still hedge on p2p trading. crypto currency is too famous and secured to shut down. Dey can only shutdown there CEX but not the DEx

[Spaceman1000$]

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.

We are almost having similar situation in Africa, where leaders in government position have put restrictions on cryptocurrency and some of  it's activities in some countries, however that's it's just temporarily, because the good news of bitcoin is coming like a moving train to the nooks and crannies of the entire continent.
But for the US government, I believe the issues will be resolved, because the US the government understands the importance of cryptocurrency in the market and how reliable it is.