Can the government ban Bitcoin and cryptocurrencies?Yes or No | Author: Jonathan Garner | Capital | June 2021
The government can Announce Bitcoin and cryptocurrencies are illegal, but that doesn’t mean they can be enforced. This is the case for other things, not just cryptocurrencies. Therefore, there is a difference between declaration and execution. We all know that just because something is declared illegal does not mean that it can be enforced. If you really don’t think so, you have to think that the government is omnipotent.
However, the government can of course damage Bitcoin.By banning it, they will severely weaken Bitcoin, even if Bitcoin still exists. They cannot be fully implemented, but perfection is not a relevant standard. Relevant is whether the government will harm Bitcoin, and the answer is obviously “yes.” Therefore, we have another difference: the difference between weakening and complete elimination.
However, in my opinion, it is more likely that the government will tax Bitcoin more. This is our final difference: bans and taxes. Whether you are cashing out or using Coinbase, the US government will understand your cryptocurrency and they will demand a reduction. They have done so, So this is not science fiction. The opposite conclusion is not only science fiction, but also wishful thinking and liberal fantasy.