Government's actions against crypto - page 4.

Abiky

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Quote from: batang_bitcoin on November 05, 2023, 06:57:55 PM

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.

Couldn't agree more with you mate. If they can't beat it, they will join it. We're already seen how China changed its mind about crypto once it became a mainstream success. The country is now trying to attract investors by turning Hong Kong into a "crypto paradise". They've used to outright reject Bitcoin mining (and everything related to crypto) some time ago. This tells us other countries will eventually embrace the revolution with open arms. Maybe Russia is next?

Whatever happens in the future, you can be certain crypto will become a part of our daily life. If the revolution were centralized, governments would've stopped it already. Kudos to Satoshi for making the best decentralized and censorship-resistant cryptocurrency in the world (Bitcoin). Who knows if Fiat currencies will be the ones that will cease to exist in the long run?

Spaceman1000$

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Quote from: Sidra101 on May 03, 2023, 12:37:03 AM

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.

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Quote from: Sidra101 on May 03, 2023, 12:37:03 AM

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

batang_bitcoin

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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.

Sophokles

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Quote from: Sidra101 on May 03, 2023, 12:37:03 AM

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.

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Quote from: Apocollapse on May 03, 2023, 05:16:08 AM

Quote from: Sidra101 on May 03, 2023, 12:37:03 AM

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.

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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.

Abiky

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Quote from: Alpha Marine on September 12, 2023, 03:24:46 PM

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 Grin

Alpha Marine

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Quote from: fzkto on August 13, 2023, 01:19:43 PM

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

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Quote from: kamvreto on August 20, 2023, 01:42:08 PM

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

Roma66

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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.

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Quote from: tokyohd on August 20, 2023, 12:52:50 PM

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.

tokyohd

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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.

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Quote from: aseprebel on August 19, 2023, 02:41:02 AM

Quote from: Heulahee on August 18, 2023, 08:11:09 AM

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.

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Quote from: Heulahee on August 18, 2023, 08:11:09 AM

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.

Heulahee

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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.

Abiky

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Quote from: fzkto on August 13, 2023, 01:19:43 PM

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

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Quote from: fzkto on August 13, 2023, 01:19:43 PM

Quote from: Abiky on August 13, 2023, 12:31:17 PM

Quote from: Fredomago on July 24, 2023, 08:57:32 AM

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 Grin

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.

fzkto

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Quote from: Abiky on August 13, 2023, 12:31:17 PM

Quote from: Fredomago on July 24, 2023, 08:57:32 AM

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 Grin

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.

Abiky

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Quote from: Fredomago on July 24, 2023, 08:57:32 AM

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 Grin

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