Banks are used for criminals, will governments ban banks?

[GxSTxV]

I believe the point with government for banning cryptocurrencies and anything related to blockchain is because they know this is a solution for people to get some freedom and run away from their control of everything and braking all practices for normal people. It is nothing new to me that banks are already used by governments and most of the owner are either politicians or works for the government, sharing all their customers data and information to control everything, from transactions to private purchases or anything someone do with his money.

Their argument to ban and prohibit crypto is always about criminal uses of this market, while there are more dangerous sources out there legally used by everyone and helping criminals as well. For instance, in a war between two sides, the ones prohibiting crypto is to forbid other people to donate since they will clearly stop bank services towards their enemy.

[DeathAngel]

Banks can be used by criminals for illicit activities governments are very, very unlikely to ban them entirely. Banks play a huge role in the global economy facilitating financial transactions, promoting economic growth & providing essential services to individuals & businesses. Instead governments focus on implementing robust regulations & oversight to help to stop financial crimes like money laundering & fraud. Things like Know Your Customer (KYC) & Anti Money Laundering (AML) policies are in place to identify & prevent illicit activities ensuring the integrity of the banking system.

[BADecker]

Trump is looking at the idea of shutting down the income tax if he is elected. Since the IRS tax is what determines the amount of money government can borrow from the banks, this would mean no more money to Ukraine, because there would be nothing to repay government loans. The whole Fed banking system might come crashing down.


Trump Drops Bombshell Proposal: Allegedly Suggests Eliminating Income Tax in Favor of High Import Tariffs During DC Republicans Meeting - https://www.thegatewaypundit.com/2024/06/trump-drops-bombshell-proposal-allegedly-suggests-eliminating-income/.

[uchegod-21]

The government will not ban the banks because they own the banks or the banks work for them or they work in tandem. You can easily punish what you don't endorse when it is offensive but you will try to defend something you endorsed. Apart from that, the bank and other financial institutions are agencies through which the government regulates and control the economy. They are part of the government, a government which goes against itself is unwise.

I also think that if all exchanges implement KYC and maybe mixers do also (which is against their purpose), there will not be much problems with bans because the individual criminals could be fished out.

[oktana]

Indeed I agree with you on this. The ban once cryptocurrency is somewhat unfair because knife, guns, etc are weapons, but they have other uses and the essence of it depends on the user. Guns are being made legal forgetting that some can literally shoot another and it won’t be traced. I don’t see how that’s a lesser crime than someone who uses crypto for money laundering because from what I know, life should be more valuable. I guess there are other reasons to the ban of cryptocurrencies than what they claim.

Anybody can make his guns easily, at home - https://www.youtube.com/results?search_query=slamgun.

The best bet is for the public to be required to wear a gun when not on their own property.

Banning crypto won't really make them smell any better.

Nice to learn about this. Looks quite easy to achieve. But it’s more than just creating guns at home. Majority of people buy guns and register them to their name or whatsoever. So I’m talking about how the government has made it legal to buy a device which can be used as a weapon of destruction while they are attacking/banning Bitcoin which too should be seen as a device depending on the user. 

[MissNonFall9]

I believe the point with government for banning cryptocurrencies and anything related to blockchain is because they know this is a solution for people to get some freedom and run away from their control of everything and braking all practices for normal people. It is nothing new to me that banks are already used by governments and most of the owner are either politicians or works for the government, sharing all their customers data and information to control everything, from transactions to private purchases or anything someone do with his money.

Their argument to ban and prohibit crypto is always about criminal uses of this market, while there are more dangerous sources out there legally used by everyone and helping criminals as well. For instance, in a war between two sides, the ones prohibiting crypto is to forbid other people to donate since they will clearly stop bank services towards their enemy.

You are absolutely right that the society or the country does not want anyone to gain freedom anyone to break the practice of everything in the country especially the society does not want anyone in the society to live with their head held high, the society prefers a low head. Since banks follow all government regulations there is no government hassle against the banking system but since Bitcoin gives people the freedom of economic movement, Bitcoin is so tightly regulated.

[Ever-young]

For government to ban banks, it is like the government wants to ban what they created without no alternatives. They are the ones that created the fiat which banks are using to keep people's money.

If you ask them that why are there dirty fiat? I mean the ones used for criminal activities, especially online. They will tell you that bad actors are still seeing loopholes that they can use to scam people to pay them fiat. But if it is crypto, they will say it is used for criminal activities. The central banks have this stupid mentality.

But most countries are in support of cryptocurrencies. Only few countries ban it.

Yes, that's right, there are some countries that ban crypto but as for Nigeria, they don't only want to ban crypto but also want to destroy it by all, which is impossible for them to do that.

They can't ban banks because banks be like the one feeding them, which might make them to lose enough money, that is why it's difficult for them to ban banks even when they find out that they are doing wrong unlike crypto that they can't be in charge, that is why they want to ban it, since they are not doing what it's require by thr crypto people, that is why they want to destroy it by all means but my happiness is that no matter how they tried, they can't destroy it.

[Bananington]

Banks can be used by criminals for illicit activities governments are very, very unlikely to ban them entirely. Banks play a huge role in the global economy facilitating financial transactions, promoting economic growth & providing essential services to individuals & businesses. Instead governments focus on implementing robust regulations & oversight to help to stop financial crimes like money laundering & fraud. Things like Know Your Customer (KYC) & Anti Money Laundering (AML) policies are in place to identify & prevent illicit activities ensuring the integrity of the banking system.

The government are the banks because the banks take orders from the government. The government will not ban one of their own institutions but they will bring up different excuses to allow the banks to continue functioning when they are failing. Banks are supposed to help us save money but they don't.

They help us to spend it right now. Criminal use banks more than they use Bitcoin but the government will not speak on those issues but will prefer to ban Bitcoin because they can't control Bitcoin. KYC could have other intentions behind them but we won't know because we think the government wants to protect us. If the government loves us why haven't they not been able to catch all the criminals making use of banks and they have all the precautions presents to make it impossible for scammers yet they are still having bank accounts and carrying out fraudulent activity.