Government's actions against crypto

[Fredomago]

Ah! I think you are talking about the story of the great serpent that actually swallow money, it's now become a famous folktale among citizens of the nation but I think the view to which am pointing at when I made reference to the government being stingy is that the fact that with cryptocurrency the challenge of third party involvement is cancelled out and people will no longer rely on the CBN for their income regulation of which posses a treat to the system because the government cut all sort of taxes and manover the rate of citizen income.

Yes I am, and I think that is the dumbest story I had heard so far in my life coming from the government official, its so childish and stupid thinking anyone would buy that story, I don't know what they take we the citizens for. Any way let bygone be bygones, even if crypto was accepted in a country by the government, they could still choose to pay their workers using their fiat currency, and from there their taxes can still be extracted. Besides, not every one is into crypto so its not like the use of their fiat currency will depreciate to zero, they can still make some constitution that all government worker should be paid with fiat, then what happens there after is non of their business. I just hope they'll remove the restriction and see how their economy will improve.

The funny part about this whole matter is that even the government officials are also holding quantities of cryptocurrencies in there wallet. We should not be deceived by what we hear and what people tend to talk about the cryptocurrency.
We can keep investing in Bitcoin and other altcoins but we should not be deceived by the government trying to make us to keep all our funds  in fiat so that the economy is not going to loses it weighs and value. We need to make decisions that would aid us to be a good and profitable investors.

Good point, everything that you should take needs to be back up by knowledge that you gain along the way, not because a government fully embrace the system means that you can trust your investment and will support it all the way, in terms of investment it is always you who needs to adopt and understand all the potentials, both risk and the advantages that you can get involve with, everything needs to be balance and needs to be decided according to how you position yourself and how you anticipate the possibility of making money

The government's standpoint in terms of any financial related investment may give you a hint but not an assurance that it will work according to how it was presented, always do your research and make a proper assessment before deciding.

[batang_bitcoin]

Governments do more research on crypto usage and especially in countries where crypto is listed as illegal.

I don't think that they're doing research on it and that's why they just impose one rule about crypto and that's about being illegal on them.

But people of almost all countries are now indulging in crypto with secrecy which is completely impossible to hack. As far as I know in some countries using crypto is considered a very serious crime and has complicated laws in this regard. The governments of those countries are thinking that crypto is the exchange of one country's currency to another which is secret and unknown to the government.

It is no longer unknown to most countries. They know the existence of crypto but they choose not to indulge on it thus, they declare it as an illegal currency because it is decentralized and they know that they don't have full control on it. And also, they think that it's only being used for illegal transactions so they decide in general that it's all illegal.

[coinremitter]

The evolving relationship between the US government and the cryptocurrency market is indeed a dynamic and critical situation. The ongoing fluctuations suggest a significant conflict with potential repercussions for individuals and businesses in the crypto space. This uncertainty raises concerns about the possible necessity for companies to either cease operations or consider relocating to more crypto-friendly jurisdictions. It's crucial for everyone involved to stay informed, engage in constructive discussions, and closely monitor regulatory developments to make informed decisions amid this complex landscape. Remember to prioritize compliance and stay vigilant to navigate the challenges that may arise. The crypto community is resilient, and together, we can adapt to these changes and contribute to the positive evolution of the industry.

[mirakal]

Governments do more research on crypto usage and especially in countries where crypto is listed as illegal.

I don't think that they're doing research on it and that's why they just impose one rule about crypto and that's about being illegal on them.

But people of almost all countries are now indulging in crypto with secrecy which is completely impossible to hack. As far as I know in some countries using crypto is considered a very serious crime and has complicated laws in this regard. The governments of those countries are thinking that crypto is the exchange of one country's currency to another which is secret and unknown to the government.

It is no longer unknown to most countries. They know the existence of crypto but they choose not to indulge on it thus, they declare it as an illegal currency because it is decentralized and they know that they don't have full control on it. And also, they think that it's only being used for illegal transactions so they decide in general that it's all illegal.

Well, decentralization is a big threat to the government. And since bitcoin is decentralized and some other cryptos as well, then they make sure to impose on the people to stay hands-off on cryptos as whatever transactions will be hardly monitored and controlled by them. And the easiest way to prevent the people from hodling cryptos is to ban crypto for good and create sanction to those who are caught using it.

But people these days are wiser. If they can't access their cryptos publicly, then they'll do it privately and secretly. After all, the government won't be able to accuse them without clear evidences against them.

[Abiky]

Well, decentralization is a big threat to the government. And since bitcoin is decentralized and some other cryptos as well, then they make sure to impose on the people to stay hands-off on cryptos as whatever transactions will be hardly monitored and controlled by them. And the easiest way to prevent the people from hodling cryptos is to ban crypto for good and create sanction to those who are caught using it.

But people these days are wiser. If they can't access their cryptos publicly, then they'll do it privately and secretly. After all, the government won't be able to accuse them without clear evidences against them.

That's certainly true, mate. It's crypto's decentralized design which makes many governments furious. Even those that are embracing it (like the US and UK), have placed some restrictions/limitations to prevent Fiat currencies from losing ground. Would you imagine if people started ditching Fiat in favor of crypto? It will minimize governments' and banks' control over the economy.

What governments want is to tax crypto for their benefit, but not to take over the existing monetary system empowered by banks. I've heard that even governments with a "full blanket ban" like China and Russia are using crypto secretly. They don't want people using it, except for them. It's all hypocrisy. Expect crypto to remain in a contentious position against mainstream governments for as long as it lives. As long as crypto stays decentralized, nothing else matters. Just my opinion

[GreenStox]

I think this is normal, because the world's financial conditions are also not good, and also the Israeli and Palestinian conflict is heating up.
and there has emerged crypto as a commodity that can no longer be ignored, I mean in the past there was only the stock market, but now many people know about crypto.
therefore the government is trying to regulate the regulations.

[Mate2237]

The battle is endless and I know that cryptocurrency will win the battle. The government cannot take battle direct to bitcoin so they are attacking the users of bitcoin. And this will bad for them because the more they fight them the more they increase in numbers. Now they have entered into Binance and successfully remove the CEO Cz in the cryptocurrency giant and we don't know their next move again.

So let everyone and Companies should stay clear from corruption and money laundering because these are the things the government is using to attack the cryptocurrency ecosystem.

[cryptoknightt]

some say the government wants to intervene in crypto, yes like that, those who initially thought crypto was just a joke, now want to set the rules, it's no surprise that in some countries with high taxes like the US this has become an important thing because in the future the economic sector may also be affected by it. crypto market.

[Hewlet]

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 a new thing at all.  Politician have always kicked against anything they feel they aren't in control of and around other countries of the world, there has been regular statement that has been geared towards putting cryptocurrency into extinction. I personally don't feel that cryptocurrency will go into extinction regardless of the pressure coming from the angle of these politicians.

[DaNNy001]

So let everyone and Companies should stay clear from corruption and money laundering because these are the things the government is using to attack the cryptocurrency ecosystem.

That's a notion which I think can't be corrected because people are found of using their coins as the way deem fit and you know the diversification is also a firm attributes of the human nature. Human being are of many and different characters and illegal activity is also an inbuilt for some persons. And their is also a clause which covers everything in this world both having good and also bad features so using crypto for fraudulent activity is not something we can see stopping any time soon and that shouldn't be used as any excuse as the fiat is also used for money laundering and so many other evil things.

[Andrija Branislav]

some say the government wants to intervene in crypto, yes like that, those who initially thought crypto was just a joke, now want to set the rules, it's no surprise that in some countries with high taxes like the US this has become an important thing because in the future the economic sector may also be affected by it. crypto market.

I'm also surprised to see the government. However, that is what they are actually looking for, apart from spreading the issue of consumer protection and the various ways they are trying to get this crypto into regulatory terms. why not sit down and discuss this properly without having to always look for the weak points in this crypto world.

[Bushdark]

some say the government wants to intervene in crypto, yes like that, those who initially thought crypto was just a joke, now want to set the rules, it's no surprise that in some countries with high taxes like the US this has become an important thing because in the future the economic sector may also be affected by it. crypto market.

The Crypto market is a tend no one can stop, even the government will have no option than to support it or see it citizens trading the cryptocurrency market secretly which will make then to lose big on the money they would have acquired if they make it legal and tax people for it.

 This is just like the beginning of the great era of cryptocurrency and we should not be blind because we are going to make so much profits from this market. It only going to take a limited time for people that do not support cryptocurrency to start supporting it now so that they will not miss out on the trend.

[Fredomago]

some say the government wants to intervene in crypto, yes like that, those who initially thought crypto was just a joke, now want to set the rules, it's no surprise that in some countries with high taxes like the US this has become an important thing because in the future the economic sector may also be affected by it. crypto market.

The Crypto market is a tend no one can stop, even the government will have no option than to support it or see it citizens trading the cryptocurrency market secretly which will make then to lose big on the money they would have acquired if they make it legal and tax people for it.

 This is just like the beginning of the great era of cryptocurrency and we should not be blind because we are going to make so much profits from this market. It only going to take a limited time for people that do not support cryptocurrency to start supporting it now so that they will not miss out on the trend.

I agree, better to find ways to legalize and make something good from it, than trying to dissolve or trying to stop it which will lead their citizens to find their own ways, with legal ways they may earn and it can help the economy with taxes that they can collect, and with legality they can also help those people who will be victimize by scammers, if there's government rules regarding to crypto it will also force those business to have their legal documents and papers which can help people to find or support those business that have tie with the government, though not all but there are people who will embrace that kind of setup.

[soramon]

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 view but this is just my opinion not to offend anything
I think the government doesn't like cryptocurrencies because crypto cannot be controlled 100% by the US government and cryptocurrencies are decentralized and more flexible to take wherever they go and only 21 million exist in the world in contrast to fiat which is unlimited and printed continuously and crypto without intermediaries 3rd and that is the reason why the government will not support crypto as a medium of exchange in the future. Maybe correct me if I'm wrong

[GlacierBIT]

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 a new thing at all.  Politician have always kicked against anything they feel they aren't in control of and around other countries of the world, there has been regular statement that has been geared towards putting cryptocurrency into extinction. I personally don't feel that cryptocurrency will go into extinction regardless of the pressure coming from the angle of these politicians.

Everything is being done in order not to destroy the cryptocurrency, but to adapt it to one’s own needs in order to get the maximum benefit, the United States has been trying to do this for a long time. Cryptocurrencies pose challenges in terms of regulation, security, and their impact on traditional financial systems. Everything that happens is quite expected.

[Velemir Sava]

Everything is being done in order not to destroy the cryptocurrency, but to adapt it to one’s own needs in order to get the maximum benefit, the United States has been trying to do this for a long time. Cryptocurrencies pose challenges in terms of regulation, security, and their impact on traditional financial systems. Everything that happens is quite expected.

That's true, but everyone wants it to be simple and of course we have experienced how the process of creating a bank account according to procedures is very complicated. Setting up Bitcoin can be done easily, and is much simpler than trying to open a bank account and more companies are expected to introduce this form of trading in the future.

[Justin999]

Why only talk about usa when others countries are also forbidden cryptocurrency as they don't have fully access to control it but meanwhile usa, country like china mining bitcoin and others altcoins and base on those issue, they are fighting technologically, although they aren’t against cryptocurrency. So it clean that, governments want crypto, they just pretending to have controll or taxation over cryptocurrency transaction. That's it. So i hope soon all countries will declared crypto as legal. Don't worry and collect best altcoin for bull run

[Samlucky O]

Well, let them shut down, let them crash, and from the ashes crypto market will stand up and become stronger. There are a lot of pointless and unnecessary products, and only the strongest will survive. But I think you might be overestimating US power a bit. We'll see.

I don't think if the US government will have to shut any company down due to participating in crypto currency transaction. Highest thing they can do is to fin them heavily for that. But if US government are bent on criticizing crypto, with this attitude it will reduce the amount of business transaction on daily basis. Crypto currency has been a fastest means of transaction. I don't even know why a developed country like US will be so hard on crypto currency, where as they should be at the top when talking about technological advancement.

[puloweh555]

I'm also surprised to see the government. However, that is what they are actually looking for, apart from spreading the issue of consumer protection and the various ways they are trying to get this crypto into regulatory terms. why not sit down and discuss this properly without having to always look for the weak points in this crypto world.

The government will always look for ways to weaken crypto, just look at the cases that occur in every country regarding crypto, some make things difficult for investors, some even ban crypto. The government did this all because it didn't like the presence of crypto. . When it comes to consumer protection, in my opinion this is not protecting but wanting to supervise because cryptocurrency cannot be monitored by the government and banks so it can be tracked.

[FinneysTrueVision]

Why only talk about usa when others countries are also forbidden cryptocurrency as they don't have fully access to control it but meanwhile usa, country like china mining bitcoin and others altcoins and base on those issue, they are fighting technologically, although they aren’t against cryptocurrency. So it clean that, governments want crypto, they just pretending to have controll or taxation over cryptocurrency transaction. That's it. So i hope soon all countries will declared crypto as legal. Don't worry and collect best altcoin for bull run

US regulation ends up affecting the rest of the world. That is why KYC and AML is so prevalent. That is why most countries refuse to trade with North Korea and Cuba. Now they are using the conflict in Palestine to try and force stricter measures on cryptocurrency transactions, using the excuse that restrictions on privacy are necessary to prevent Hamas financing.