What happens if the government gains control?

[glitch]

What worries me about crypto is the growing interest from governments. They seem to want to regulate it and have it become a model for a global currency which I think would be terrible for everyone. I know the banks are already heavily regulated and controlled as it is. If they do it with crypto, a digital currency, I feel like we can lose a lot of our freedoms.

 

[James]

It may be good specially regulating cryptocurrencies could be a key element and healthy development for the industry. Greater regulatory guidance, if well targeted, can help reduce speculation among crypto assets in assets, as more institutional and individual investors come in

 

[Setho]

I believe that they are some certain aspects of the economy that are not supposed to be under the control of the government no matter what. This is because if it is under the private it is going to be exposed to more creativity.

 

[Syldan]

Actually when the government gained control on the operation of cryptocurrency, there will be alot of complications and much policies regulations on the operation.

 

[LadAckerman]

When the government takes control whether over a business, cryptocurrency or other business related ventures, the productivity, competence and performance of that particular venture or business reduces.

 

[joy101]

Government can only regulate but I don't really think that them can control about it, because when government gain control over cryptocurrency it be very complications and much policies.

 

[Syldan]

Seriously when the government gained control over the operation of cryptocurrency, there most a kind of centralized way of operation to which governments regulations will be very high.

 

[Sincerem]

If the Crypto currency becomes owned or controlled by any entity be it the government or any other body , it will lose it decentralized nature and thus the original purpose why it was designed wouldn't be met.

 

[Setho]

If at all the government ever against control then that does not mean that it is cryptocurrency again. Cryptocurrency is supposed to be a transparent system with no external body manipulating it.

 

[Lens]

The government cannot actually gain control of the cryptocurrency because it is a decentralized medium and that is the basic reason why the decentralized features cannot be centralized.

 

[zelalem]

Special regulations on cryptocurrencies are a key element of the industry and can be a healthy development. Stronger regulatory guidance, if properly coordinated, will help reduce asset speculation from assets to cryptocurrencies as more institutional and private investors enter the

 

[Smiles20]

If there is ever going to be a scenario where the government are going to be in control of cryptocurrency then that is going to defeat the initial aim in which it was created and it is no longer going to be cryptocurrency again.

 

[Setho]

The government can only be able to regulate cryptocurrency exchanges so that there is going to be an avoidance of tax fraud or money laundry but then it cannot be able to monitor blockchain technology.

 

[Lämmchen]

I can imagine the high amount of taxes that would probably go along with a government controlling crypto. I mean, they tax everything heavily once they get their hands on things...for the greater good they say?

I think it's best the government stays out of this.

 

[Sincerem]

I can imagine the high amount of taxes that would probably go along with a government controlling crypto. I mean, they tax everything heavily once they get their hands on things...for the greater good they say?

I think it's best the government stays out of this.

Yeah, if the government gains control then tbe amount of tax placed on the crypto currency would certainly increase and the gas fees for transactions across countries would increase too.

 

[Lens]

The government cannot actually gain control of cryptocurrency community because government will only regulate it and it will not really have a strong effect on the decentralization effects of cryptocurrency.

 

[Ononivami]

If the government gained control it is an added advantage because so many critics will now get involved in cryptocurrency the only side effect will be the decentralized features.

 

[Smiles20]

Is it government is not going to be getting control of cryptocurrencies because of the way in which we operate. Government will always like to control things and that is not the way of cryptocurrency and why it was created

 

[Lens]

People afraid of the cryptocurrency regulation because they believed that if it is regulated it will be a government controlled by currency and it will forfeit the major feature of cryptocurrency.

 

[Chibson]

The only thing the government can do to cryptocurrency is to regulate it and their operations.

But getting complete control of it like Fiat currencies is quite very much impossible. If you know much about blockchain technology you will know that it is highly decentralized and no one will have full control of it.