In continuing from my previous post where an expert who invests in cryptocurrencies, Tama Churchouse, explains certain question around Bitcoin. This answer targeted questions on what's to stop a major government from banning the use of bitcoin.
"There's no chance that the U.S. government will ban bitcoin. It will try to regulate it, sure. And it already has, to a degree. You already have to pay capital gains tax on cryptocurrencies at the same rate as real estate. But ban it? No chance.
We've seen that kind of action from dictatorships. The Chinese government recently banned initial coin offerings (or "ICOs") and closed a lot of the exchanges. But what I'm now hearing is that ICOs are going to be allowed again with government approval in China.
So what we're going to see is regulation, but we're not going to see outright bans from any governments of significance. We'll see it in a few countries here and there, but I can't see any major government banning bitcoin. Look at Japan. Japan already passed a law in April allowing bitcoin as legal tender. Most developed countries are moving toward the path of regulation as opposed to banning it."
Have a wonderful day!