Quote from: Apocollapse on May 03, 2023, 09:16:08 AM

Quote from: Sidra101 on May 03, 2023, 04:37:03 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.