Can the governments track crypto?

[nomad]

Government cannot track your crypto assets, however, it can surely find out whether you are using crypto to make investments or trading. All it needs is your device, a phone, or a laptop/computer that you use to perform your transaction.

 

[flower]

The only way the government can track your cryptocurrency is if you carry out cryptocurrency transactions on centralised exchange platform like Binance. this is because they offer tyc policies .

 

[Etini Willie]

The only way government can track crypto transactions is to collaborate with crypto exchanges. The Exchange can decide to reveal details of transactions if it is a matter of necessity like a security risk.

 

[Bisolami]

One of the reasons why cryptocurrencies are so popular is that governments can't monitor your property as much and you have more privacy, but is it really impossible to track crypto? I did some research and found out that Bitcoin is traceable. I don't know much about other coins. what do you think? If you have information about this, please share

Even if they are able to track crypto, it is just a digital currency and nothing more. They cannot do anything to it since it is not something that connotes crime.

 

[Etini Willie]

Even if they are able to track crypto, it is just a digital currency and nothing more. They cannot do anything to it since it is not something that connotes crime.

Some governments allege that the decentralized nature of cryptocurrency has been making it easy for people to use it and fund terrorism across the world. The decentralized nature of crypto transactions is the reason governments are against it.