It's like you are saying that every country needs to accept bitcoin like its one of their legal tender which is really not possible in any timeline of its existence. Well, maybe but i still doubt it will happen. If you are talking about implementing CBDC then its possible as China started it already.
Each country has a different monetary policy towards crypto. Varying levels of acceptance and support for cryptocurrency by different governments can be attributed to several factors. I do agree with you that the implementation of Central Bank Digital Currencies (CBDCs) is a more plausible scenario. As you mentioned, China has already started working on its digital Yuan, and other countries are also exploring the idea of creating their own digital currencies. CBDCs would allow governments to maintain control over their currencies while taking advantage of the benefits that digital currencies offer, such as faster transactions and reduced costs. 
Topic: Do u think that the body governing need to re-strategize ? (Read 282 times)
It is no longer news that cryptocurrency is not supported/accepted by governments of all countries. I want to believe that the body regulating these coins needs to re-strategize for better acceptance. I will like to have your views.
It's a case-to-case basis now, some countries will still try to restrict it, and some countries will regulate but so far majorities of countries are now adopting it.
The government cannot stop the advancement of Cryptocurrency because it is very well-suited to our generation and can easily be integrated into many industries, the money remittance industry is just one of the many industries that fully adopted and benefited from their adoption, some government is restricting it now but no government is permanent in nature, once there is a change of government in one country that restrict Cryptocurrency there's a possibility of adoption for the next government.
To be honest, El Salvador is the best example for recognizing Bitcoin as a legal coin , it has been affected positively on their economic since 2019 but not significantly due BTC has decreased more than %50 since 2021. From my perspective, El Salvador economic will grow strongly in next 1-2 years specifically after BTC halving event. In addition to that, I highly doubt if powerful governments and banks are not indirectly supporting Bitcoin. They certainly invested large funds in it but in secret and other cryptocurrencies such as Ethereum. Plus, they might have the ability to control the price that’s why the market is being extremely volatile. Hopefully, more countries will follow El Salvador and recognize the best coin as a legal tender.
I think it's wrong to say that cryptocurrency is not supported or accepted by governments of all countries. There are at least a couple of countries already that recognize Bitcoin as legal tender. And although the rest don't go that far, cryptocurrency is actually accepted by probably the majority, at least by implication. Meaning, crypto isn't illegal or banned. Even in countries where crypto is not yet strictly regulated or even classified, people can buy, sell, and spend crypto.
Even in my country where Bitcoin isn't recognized as a currency by the government, it is legal and you can actually pay for goods and services with Bitcoin.
Even in my country where Bitcoin isn't recognized as a currency by the government, it is legal and you can actually pay for goods and services with Bitcoin.
legendary
Activity: 2478
Merit: 4341
eXch.cx - Automatic crypto Swap Exchange.
It is no longer news that cryptocurrency is not supported/accepted by governments of all countries. I want to believe that the body regulating these coins needs to re-strategize for better acceptance. I will like to have your views.
Correction, most countries and not all countries because we have some countries that are showing positive interest towards its adoption and about two has already adopted it. In regards to your question, are you talking about the government or the projects themselves? If you're referring to the government, their stand has already been voiced out a very long time ago when they started attacking the industry and made it look like a scam as they sabotage its growths but after all their attacks still the industry is doing just fine without their acceptance and soon they'll be the ones crawling back because the potential of the industry.
Only the countries that'll profit are those showing Bitcoin (and indirectly the general market) some love like El Salvador. Whenever any positive news comes out of El Salvador, it helps the entire market and not just Bitcoin especially when the sentiment of the market is already bullish. With time the government of the countries still fighting Bitcoin will realized what they're missing. Bitcoin adoption is imminent, it's just a matter of time before it explodes as the internet did in the late 1990's, we just have to wait and watch.
In my opinion, the most important thing is that the government does not have the power to regulate the cryptocurrency market.
it is the main issue that we should discuss here 
every established government always have to adjust the domestic market to stabilize, help their people develop, if a government doesn't do it well, that country will suffer from inflation and bad debt. If we want governments to accept cryptocurrency, it is imperative that they have the right regulatory policies in place to govern it, and that is what governments are struggling. How to manage it, is still a difficult problem 
Why is all of a sudden we are very much positive that government is not accepting crypto. Look at China now, they wer banning crypto and mining but they've change their minds now.
As I know China is a business country where only profit oriented. I was really sure they open their mind if it has approached the halving like today. So, I won't be surprised if they will be friends with crypto because they were bought in the dip. So, after Bullrun, and sold the crypto assets in 2025, China will make FUD again and ban the crypto together spreading a piece of bad news, and so on, because they did this strategy business since 2013. 
It is no longer news that cryptocurrency is not supported/accepted by governments of all countries. I want to believe that the body regulating these coins needs to re-strategize for better acceptance. I will like to have your views.
It's not going to be easy for any government to accept crypto, it will still be based on those who are in the power and sitting at the office. For example, Bukele of El Salvador he is the President for now and seems to be Bitcoin friendly, so what happens next election if he losses? technically, he is not allowed to have 2 consecutive terms if I'm not mistaken, however, their Supreme court discarding that rule,
(https://www.reuters.com/world/americas/despite-prohibition-el-salvador-president-bukele-says-he-will-seek-re-election-2022-09-16/)
So in any case, he wins that El Salvador will still become a Bitcoin friendly and still accepted as Legal tender. But there are chances that in other countries, the new government might make a U-Turn. No need to re-strategized for government or those financial bodies, they already made some decisions to go anti or pro Bitcoin/crypto so it will remain until they themselves change courses for whatever reasons.
It is no longer news that cryptocurrency is not supported/accepted by governments of all countries. I want to believe that the body regulating these coins needs to re-strategize for better acceptance. I will like to have your views.
They're already doing that accepting and even promoting to their citizenry under their strict regulation and imposing huge taxes, our government benefits from integrating Cryptocurrency into banks and money exchange, but to some extent they retain control by imposing strict compliance, KYC, and heavy taxes.
The government believes in the saying if you can't fight them join them but impose your will and make a profit out of it.
Do not forget that the owners of the banks are in control of politics in every country, this is what they call the shadow government.
They are the great economists who own the banks, money and power and they are the ones who enact the laws in reality, while the politicians are just a tool in their hand in secret.
So they want everything to remain under their control, so getting accepted in bitcoin and cryptocurrency will never be easy.
They are the great economists who own the banks, money and power and they are the ones who enact the laws in reality, while the politicians are just a tool in their hand in secret.
So they want everything to remain under their control, so getting accepted in bitcoin and cryptocurrency will never be easy.
The current first world powers who seek to keep the monetary system alive will try to keep up by creating central bank digital currencies (CBDCs) and will shoot themselves and the value of their garbage currencies in the foot. Meanwhile, I believe that third world and countries who have been adversely effected by the past wrath and reign of the US dollar will turn to Bitcoin as their savior and in turn will come out on top of the new economic order following a historical transition that is happening right now and that will continue over the next decade.
The methodology undertaken by El Salvador was very hasty, which led to a bad impression of bitcoin and cryptocurrencies. Bitcoin is still in its early stages of becoming a global reserve currency, but it is a small leap in the direction of changing the global reserve currency and replacing it from the dollar to another currency.
Bitcoin will not be mostly that currency, but it will be a currency for international trade, as the acceptability of Bitcoin, ease of conducting transactions and high transparency is suitable for it to be a currency of international trade.
Will it be accepted by all countries? Yes, but for international trade.
Bitcoin will not be mostly that currency, but it will be a currency for international trade, as the acceptability of Bitcoin, ease of conducting transactions and high transparency is suitable for it to be a currency of international trade.
Will it be accepted by all countries? Yes, but for international trade.
In my opinion, the most important thing is that the government does not have the power to regulate the cryptocurrency market.
This is a matter of time and will be discussed in the future.
This is a matter of time and will be discussed in the future.
Why is all of a sudden we are very much positive that government is not accepting crypto. Look at China now, they wer banning crypto and mining but they've change their minds now. Hongkong might just be the first in Asia while there ar States in US that are very open to crypto.
It wouldnt have to happen over night but it will happen. The governing bodies will not like it but people will do use cryopto.
I want to believe that the body regulating these coins needs to re-strategize for better acceptance. I will like to have your views.
You're assuming they want to accept/integrate crypto into their system, which is not always the case. If they don't want crypto to enter then you will never see any crypto-friendly regulation or strategy comes into play. Basically, you'll probably need to change the person in charge of these policies if you want to see any changes, or try to lobby them with organizations and so on. Like it or not it becomes political to some extent, especially if this issue can be used to determine whether they'll get votes from the public or not. I believe the majority of countries will likely regulate exchange sooner or later, but will never allow crypto as a legal form of payment. Basically, it will be treated like gold or other investment assets. That won't really stop you if you want to pay stuff with crypto though.
All countries want more control over their people, especially the big democracies of the world. That's where CBDC's enter the picture.
That's indeed true, but in varying degrees. I'm pretty sure Bukele and the El Salvador wants control over their people, but yet they're very bitcoin-friendly to the point that they invested a small chunk of the country's balance sheet into bitcoin.
It is no longer news that cryptocurrency is not supported/accepted by governments of all countries.
That is because even those that hated bitcoin have started to be neutral and positive on the acceptance of it. Most of those that have nothing to say about it, are very much open on it and stays to be neutral.I want to believe that the body regulating these coins needs to re-strategize for better acceptance. I will like to have your views.
Well, it's up to them on how they're going to portray the acceptance of bitcoin or any other altcoins that they think is good for their people. As long as they're truthful on it and balance just as with other investments and currencies that they're in, they should be fine and no need for any re-strategization. 
If you mean government should be launching theit own CBDC so they can get rid of decentralized monetary system then it won't work because many government already launched their official CBDC which doesn't even get any attention at all from their people.
Many? I don't think it's many. Some have pilot programs, where they are testing the new systems. I only know of China and Australia. Several other nations have announced readiness to start working on their own CBDC, like Russia, the US, or Sweden. Which countries use it officially as working digital tender? In the first place, with countries that want high levels of control over their people, bitcoin/crypto is the total opposite of what they want.
All countries want more control over their people, especially the big democracies of the world. That's where CBDC's enter the picture. 
It's like you are saying that every country needs to accept bitcoin like its one of their legal tender which is really not possible in any timeline of its existence. Well, maybe but i still doubt it will happen. If you are talking about implementing CBDC then its possible as China started it already.
They will look for loopholes to impose their authority, Satoshi's whitepaper clearly stated that he created Bitcoin to fight control of the banking industry and the banking industry is the main tool of the government to impose and take out privacy, banks have secrecy laws but a simple court order will divulge everything about you, so they will not yield on the privacy and decentralization brought by Cryptocurrency.
Just check the CEX's TOS and you will see how they impose their authority, they will accept it (cryptocurrency) as long as they can impose their rules.
Just check the CEX's TOS and you will see how they impose their authority, they will accept it (cryptocurrency) as long as they can impose their rules.
It is unrealistic to think that bitcoin/cryptocurrencies would receive full support from all governments. In the first place, with countries that want high levels of control over their people, bitcoin/crypto is the total opposite of what they want.
Each countries has their own choice to accept or ban Bitcoin, you can't expect all countries will want to accept Bitcoin. Not only Bitcoin, but some countries has a weird laws [1], if you think those are normal in your country, you can't expect a same culture in the other countries.
Sooner or later the government which currently ban Bitcoin could reconsider to unban Bitcoin when they realize the advantages of Bitcoin is more than the disadvantages that were been predicted by them.
[1] https://www.farandwide.com/s/weird-laws-world-4961c1ede8d749bf
Sooner or later the government which currently ban Bitcoin could reconsider to unban Bitcoin when they realize the advantages of Bitcoin is more than the disadvantages that were been predicted by them.
[1] https://www.farandwide.com/s/weird-laws-world-4961c1ede8d749bf
There is some level of acceptance of cryptocurrencies in government regulation across countries, what you need to know is that most countries allow it as an investment instrument, others don't (yet) regulate it and ban it completely (not much but enough to affect nearby countries).
Some, like Dubai, have the potential to become a haven for the crypto industry, marked by relaxed regulations welcoming new crypto companies.
Some, like Dubai, have the potential to become a haven for the crypto industry, marked by relaxed regulations welcoming new crypto companies.
It is no longer news that cryptocurrency is not supported/accepted by governments of all countries. I want to believe that the body regulating these coins needs to re-strategize for better acceptance. I will like to have your views.
El Salvador made bitcoin as their legal tender and many other countries are trying to adapt the cryptocurrencies into their system without doing any damage to their existing economic structure so what we are going to discuss further?If you mean government should be launching theit own CBDC so they can get rid of decentralized monetary system then it won't work because many government already launched their official CBDC which doesn't even get any attention at all from their people.
It is no longer news that cryptocurrency is not supported/accepted by governments of all countries. I want to believe that the body regulating these coins needs to re-strategize for better acceptance. I will like to have your views.
Jump to: