I understand the defi nature. The government can't shut down

Question

I understand the defi nature. The government can't shut down

the code etc. But can't they create some rules that you can't get the money transferred from your wallet to your bank? If you can't get the money from crypto then all is meaningless. Can someone correct me if I'm wrong

#cryptocurrency #english #hex-crypto

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04.11.2023

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Nenad [I won't dm you] · Accepted Answer

You are talking about a prohibitionist law. In the case of crypto it doesn't do much as it would first of all have to be global to have a significant impact and it is unlikely governments could achieve a consensus given they are financial competitors. Also, prohibition would validate the value of crypto, so it would have a backlash. And besides, legacy finance is already knee deep in crypto, so prohibition is currently not an option. But regulation is, which is bad news for CeFi and CeDeFi and excellent news for DeFi.

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I understand the defi nature. The government can't shut down

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