What if the governments get involved in the Bitcoins?

[Xtynehappy]

We have currently seen that most governments of the world are discouraging the use of the crypto currency by banning the use for it on their countries.
So what if the countries get hold of the bitcoins and decide to control it?
How the market would look like ?
What will it happen?

 

[King Belieal]

If the government gets involved in bitcoin and crypto, it would give legal standing to crypto and make it more popular. Most people would adopt it.

 

[Suba]

A country's government cannot be directly involved in the Bitcoin world, they can only make regulations for crypto exchanges or ban crypto exchanges, levy crypto taxes etc., while users in that country cannot be controlled. The picture of the crypto market will be quiet in that country. Even though globally the Bitcoin ETF has an effect on Bitcoin prices, the government is not a user so users can still use crypto for transactions using VPN

 

[riberet19]

They can try to get involved through centralized exchanges, and ask for KYC or even try to ban cryptocurrencies, but cryptocurrencies were born as a peer to peer payment system between equals, so if used properly, governments have little to do against them, they can also get involved to try to accelerate adoption, but I don't think it would be a genuine adoption.

 

[King Belieal]

At the end of it all, for crypto to gain wide acceptance, the government of countries have to step in through the aspect of effectively regulating it.