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Author Topic: How does the government of your country view cryptocurrencies?  (Read 9480 times)

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The Vietnamese government has been somewhat hostile to the adoption of the crypto industry in recent years, despite its apparent endorsement of crypto’s underlying blockchain technology. After banning cryptocurrency as a means of payment back in 2018, Vietnamese authorities have continued to urge the population to avoid crypto.

Article: Vietnam’s finance ministry warns about crypto trading risks

In our country Vietnam, we have the right to mine, own, buy and sell crypto, but cannot use crypto for payment instead of fiat, which is VND. Even in crypto transactions on P2P exchanges, when making bank transfers, we must avoid mentioning sensitive words like "coin, token, crypto, blockchain, virtual money, digital money...".
The Vietnamese government continues to hold hostility towards crypto & delay the enactment of the legal framework for this new sector. The good projects of Vietnamese in crypto such as Tomochain, MidasProtocol or KyberNetwork must also register in Singapore for legal reasons. I don't really understand the reason why they're so scared of crypto, but it looks like we're going to have a CBDC on the way since China is implementing CBDC :)

What is the view and attitude of the government in your country towards crypto/blockchain? Are you satisfied with that and what do you want in the future from them?
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Offline bitcoin-shark

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Re: How does the government of your country view cryptocurrencies?
« Reply #1 on: March 05, 2021, 10:58:14 AM »
the government in my country that is Italy is in favor of crypto, some of the local banks are already implementing the use of crypto / bitcoin and there are also many bitcoin ATMs, the government is currently thinking about how to best tax the earnings from crypto

Offline lepbagong

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Re: How does the government of your country view cryptocurrencies?
« Reply #2 on: March 05, 2021, 11:24:15 AM »
Every country will implement what is clearly implemented by the government, because without the existing regulations from the government, it will certainly affect all transactions that become illegal and violate the rule of law and are dangerous, even though it may be done by all means.

It is clear that the government will adjust to the situation there and I myself cannot conclude that a country prohibits the existence of blockchain and its crypton, there could be something that cannot be found for alternatives that can interfere with activities in the country.

My country also does not recognize it, but it is limited to not recognizing that it is used as a legal medium of exchange, if there are no restrictions, even if it is assisted in exchanging to fiat with regulations set by the government. so each country can have different perceptions, because it depends on the readiness of the country.
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Re: How does the government of your country view cryptocurrencies?
« Reply #3 on: March 05, 2021, 02:49:03 PM »
My country recently banned any banks from banking or having anything to do with cryptocurrencies. This came on the heels of some terrible civil demonstrations against the government arms

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Re: How does the government of your country view cryptocurrencies?
« Reply #4 on: March 05, 2021, 02:52:39 PM »
Obviously in my country, crypto has got a permit. Because the company already exists and has grown. So I have no qualms about investing in crypto as it is today.
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Re: How does the government of your country view cryptocurrencies?
« Reply #5 on: March 05, 2021, 03:35:31 PM »
The main issue is the high risk involved in the cryptos that's why our country does also not favor the cryptos and warns about the losses but still its legal to buy sell and receive cryptos in my country without any problem to date but rumors are there they will soon bring a bill to ban the cryptocurrencies. We can not believe this news until and unless a bill passed to ban cryptocurrencies.

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Re: How does the government of your country view cryptocurrencies?
« Reply #6 on: March 05, 2021, 03:40:57 PM »
The government of my country (Spain) still does not have a very defined idea of ​​what cryptocurrencies are and what they are for. They are a gang of digital illiterates. The only thing they have done is to publish a series of rules in which they say that until the profits made with cryptocurrencies are transferred to fiat money, there is no need to pay taxes, but they do not say what percentage of taxes it would be paid later. It doesn't surprise me that people go to live in Andorra, for example.
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Re: How does the government of your country view cryptocurrencies?
« Reply #6 on: March 05, 2021, 03:40:57 PM »


Offline Mas Bro

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Re: How does the government of your country view cryptocurrencies?
« Reply #7 on: March 05, 2021, 05:20:40 PM »
In my country have not legalized crypto currency as a legal means of payment and exchange. But it does not prohibit its people from joining and investing in cryptocurrency. Because there are several local banks that can be used to deposit or withdraw in Cryptocurrency. They think cryptocurrency is only a digital asset, not a legal medium of exchange.
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Offline Ferki

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Re: How does the government of your country view cryptocurrencies?
« Reply #8 on: March 05, 2021, 05:22:51 PM »
In Germany, you can trade, buy, sell with crypto. As long as you pay tax everything is in order. Regulation is still not clear for everyone, there are also few tax advisors who are familiar with crypto. But that is all regulated at EU level so that we will soon have a clear picture of it.
And when these Eurocratic/byrocratic devices have finally understood crypto, as I have said so often, they will buy Bitcoin from me for 1 million  ::)

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Re: How does the government of your country view cryptocurrencies?
« Reply #9 on: March 05, 2021, 05:23:16 PM »
Cryptocurrency transactions are banned in my country. However, we sell these to authorized users through our large organization. However, if any user of the organization can be detained by the government of our country, then there is a possibility of much more punishment.

Since cryptocurrency transactions are prohibited in our country. So we have no security. We have to deal very carefully. So we do not discuss such activities with anyone. But must be approved in the future.

Offline mohdelayo

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Re: How does the government of your country view cryptocurrencies?
« Reply #10 on: March 05, 2021, 09:55:38 PM »
For muchly no good reason, many of the governments from around the world are clearly so scared of their nationals adopting and utilizing cryptocurrencies and their various potentials. I'm a Nigerian and in my country, the government have from a long time now been warning the populace on the dangers that are involved in holding and trading cryptocurrency assets, recently the government came out openly to prohibit banks and other financial organizations from aiding any cryptocurrency related transaction. But in the case of my country, i believe the government is only being strategic and looking for a way to begin tasking the usage, spending and powering of cryptocurrency payments.

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Re: How does the government of your country view cryptocurrencies?
« Reply #11 on: March 05, 2021, 10:31:45 PM »
Cryptocurrency transaction where ban few months ago the believe bitcoin is a scam and the only thing they can do is to ban it and block all the accounts that have been related to bitcoin. There are lot's of countries that believe in bitcoin and they adopted it but my country ban it which is very bad.

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Re: How does the government of your country view cryptocurrencies?
« Reply #12 on: March 05, 2021, 10:39:43 PM »
The government of our country has still made this cryptocurrency illegal.  But our neighbor India has legalized bitcoin there.  However, even though bitcoin is not legal in our country, we are doing it secretly.  But we hope to give Bitcoin legitimacy any day.  In fact, our government is a developing country. Most of the people in this country are uneducated and poor. If Bitcoin is legalized in this country, then the people of this country will use Bitcoin differently.  Will invest without realizing it and later they will lose.
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Offline Debasco

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Re: How does the government of your country view cryptocurrencies?
« Reply #13 on: March 05, 2021, 10:56:06 PM »
though presently in My country now, cryptocurrency has been ban by the government, due to the fact they believe its affecting the normal stock exchange of the country. 
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Re: How does the government of your country view cryptocurrencies?
« Reply #14 on: March 05, 2021, 11:13:58 PM »
I live in Indonesia.
I this country, crypto is legal as a digital asset or commodity. The regulations have been listed under one of the state institutions called BAPPEBTI.
However, it is only legal as a commodity, but it is illegal or forcible for transaction or payment use. SO, now, it is not as a currency.
There are also several local exchanges that are under the regulations and registered in that governance.
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