> This won't be stopped by any government, you can only put your country at a disadvantage by ignoring it or trying to impede it.
Countries have tried and were pretty successful? China banned it, and now it's pretty difficult to trade crypto in China. The US can pass legislation tomorrow saying no crypto no more, and it will be effectively banned from the US. How are you going to trade crypto when nobody wants to touch it?
If you don't comply, your bank will shut down your accounts, the people running the exchanges will get arrested, their websites will get seized, etc. The US financial system is pretty good at keeping track of where USD goes after all, it'll get pushed into the shadow financial sector where all the other crime lives, and that seems pretty much the end for all the new crypto projects.
They can make it hard to interface with the traditional fianqncial system but they really can’t stop crypto wallets from being used can they? I know this makes it useless for most people just wanting to clarify.
Countries have tried and were pretty successful? China banned it, and now it's pretty difficult to trade crypto in China. The US can pass legislation tomorrow saying no crypto no more, and it will be effectively banned from the US. How are you going to trade crypto when nobody wants to touch it?
If you don't comply, your bank will shut down your accounts, the people running the exchanges will get arrested, their websites will get seized, etc. The US financial system is pretty good at keeping track of where USD goes after all, it'll get pushed into the shadow financial sector where all the other crime lives, and that seems pretty much the end for all the new crypto projects.