Why is it impossible for the United States to ban virtual currency trading?
First, virtual currency is not legal currency and will never be legal currency. Any so-called token is not a legal currency, just because it is a digital currency guaranteed by the same amount of legal currency, and its stability and value are determined by the guarantee of legal currency. But the guarantee is specifically the company, so if the company goes bankrupt, the tokens can only be liquidated at a low price. But legal currency is different. Generally, it will be abolished only when the country's political power changes. Therefore, tokens have legal value with limited agreement, but do not have the status of legal currency. But cryptocurrencies are completely different. They have neither legal currency status nor explicit agreement on value guarantees. The value of cryptocurrency only exists among those who believe in it. It is worthless among those who do not believe in it.
Second, before Bitcoin, virtual currency had no concrete existence. So on a political level, it's not defined. If something is not defined, it cannot be prohibited, because there is no way to prohibit it. After all, for any country, it is neither the legal currency of its own country nor the legal currency of a foreign country. Furthermore, it is not concrete evidence of any bond or title. No one can prove what specific thing it represents. Among the groups that believe in it, it can be used to buy hamburgers and arms; it can also be used to recharge games and buy gold. However, despite this, it has functions similar to legal currency, but does not have the same stability as legal currency, nor does it have the same anchor as legal currency.
In civilized countries, such as the United States, which still needs face and principles, it will never be possible to ban cryptocurrency. But judging from the current situation, the United States has begun to recognize virtual currencies as "assets." Yes, that’s right, it’s an asset, not a currency. There is another possibility, which is to define virtual currencies as securities. But I personally think that if virtual currency is used as a security in the end, it must have a specific value object it represents. However, virtual currency does not map any specific value object. It is not a mapping of any specific physical bonds and rights, nor a computer, nor a A car is neither an industrial chain nor a company. He is the symbol of decentralized freedom. So it is obviously inappropriate to define cryptocurrencies as bonds. Therefore, the most the United States can do in the end is to define cryptocurrency as a special virtual asset. What the United States can do to it is probably to tax virtual currency transactions.
But the shameless country is different. The shameless country is likely to regard virtual currency as a competitor or enemy of digital legal currency, thereby attacking it, refusing to recognize its value, or even prohibiting its trading.
