This is an incredibly naive viewpoint. All legitimate Bitcoin trading exchanges have assets. Some countries have more flexibility to shut down companies than t

This is an incredibly naive viewpoint. All legitimate Bitcoin trading exchanges have assets. Some countries have more flexibility to shut down companies than the US. During the golden era, governments weren’t sure what to do with Bitcoin so companies like mtgox were left alone but those days are gone. Especially with the threat of getting arrested for money laundering, it makes the risk much higher and popularity would plummet. They could shut down Bitcoin trading in the Western countries and then put financial sanctions on any countries that allow Bitcoin trading. It would drive Bitcoin trading underground but with no legitimate and easy way of converting your Bitcoin to fiat currency, it would die quickly. Once the price of Bitcoin drops below the price of the cost to mine it in terms of electricity, it would probably stop getting mined by many parts of the world. It also might drive Bitcoin into the hands of China but I think what would happen is that the governments would come up with some other form of cryptocurrency that they could control.