Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: MrSpasybo on March 05, 2021, 05:56:35 AM
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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 (https://cointelegraph.com/news/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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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
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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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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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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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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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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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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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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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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.
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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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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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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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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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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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Governments in different countries view bitcoin differently. This bitcoin is legal in some countries and not in any other country. However, all the countries where this bitcoin is legal tender are very developed. The government of our country has made Bitcoin illegal because this country is a developing country. However, in this developing country, it is better not to legalize bitcoin.
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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.
Same with me bro. I think that it is too difficult using Bitcoin as currency because it has been stated that so far, Bitcoin will never be a currency. They said that it is so cmplicated.
For me, I do not mind that, as long as I can use crypto as investment and trading, it is enough.
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I am lucky to be under a government that is not really interfering with cryptocurrency except if there can be scams, and they used cryptos as medium of payments. As of now, there is no specific law or regulation covering cryptocurrency, but agencies are using existing laws which are adopted towards foreign exchange and anti-money laundering guidelines. It is actually sad to see some governments not having enough grasp of cryptocurrency and yet have the tenacity to be banning or controlling this industry. Hope that they talk to the people affected with their decisions and have a dialogue to form a partnership so to address many fears and questions well enough. I understand that there is a growing community in Vietnam that are enthusiastic with cryptocurrency and the county has talented people who can contribute a lot towards the development of this industry.
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The government of Nigeria recently banned crypto currencies and instructed financial institutions to block any account discovered to be dealing in crypto currencies, but then, I don't know, it means crypto currencies usage even increased the more in the country after government placed the ban, this is to tell everyone of us that crypto currencies have become much greater than any government, except the people of the country are too afraid to stand up, then no government will be able to stop crypto currencies, they can only warn their citizens to be careful in their dealings with crypto, but to stop the people from using or investing in it, I don't think will work out at this stage we are right now.
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Same situation in our country. Our government doesnt show any interest in crypto. Though most of the countries are positive about crypto, our government's make it illegel to trade in crypto.
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Interesting topic, I hope governments won't censor this topic :)
In Vietnam, everything about government power is sensitive, especially economic. The Vietnamese crypto community continues to wait for the legal framework for crypto, but the government just continues to be silent. Their recent actions are seen as a warning as the wave of crypto-related scams increases with bullrun.
I also believe that in the future Vietnam will also have its own CBDC, but maybe it is just a digital money, not a crypto.
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It is very clear that the government of my country approves of Bitcoin. Because they also allow and give permission for the establishment of crypto companies in my country.
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In our country the government has not accepted Bitcoin and Cryptocurrency as a legal means of payment, but even so there is no prohibition from the government for us to do activities in any form in Cryptocurrency, such as trading, investing and others we are free to do here.
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It is clear in my country that crypto is getting a warm welcome. Because there are so many crypto users and it has been used as a means of payment in several fields, especially for buying and selling. And this has not received negative criticism from the government, I think the government agrees with this.
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I live in Ukraine, and everything seems to be getting better with regard to the cryptocurrency market in my country, but the legislator is starting to legalize cryptocurrency from the wrong side. first of all, they are already discussing the taxation of cryptocurrency users, but at the same time they are not making changes to the civil code, which says that cryptocurrency assets can be inherited and so on. Plus, there is no discussion about the perks for various cryptocurrency companies.
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I live in Ukraine, and everything seems to be getting better with regard to the cryptocurrency market in my country, but the legislator is starting to legalize cryptocurrency from the wrong side. first of all, they are already discussing the taxation of cryptocurrency users, but at the same time they are not making changes to the civil code, which says that cryptocurrency assets can be inherited and so on. Plus, there is no discussion about the perks for various cryptocurrency companies.
The government coming in from the face of taxation is something everyone should expect from any government that's trying to you know provide a legal framework that regulates cryptocurrencies. But then it shouldn't just be about the government looking for ways to gain from taxation but putting all the necessary frameworks in place.
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In our country the government has not accepted Bitcoin and Cryptocurrency as a legal means of payment, but even so there is no prohibition from the government for us to do activities in any form in Cryptocurrency, such as trading, investing and others we are free to do here.
I think It happened at many countries mate, the government didn't accepted but Not blocked the crypto currency. That's is good for crypto ,because not illegal but also not recognise. We can do trading and investing, So not problem
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I am lucky to be under a government that is not really interfering with cryptocurrency except if there can be scams, and they used cryptos as medium of payments. As of now, there is no specific law or regulation covering cryptocurrency, but agencies are using existing laws which are adopted towards foreign exchange and anti-money laundering guidelines. It is actually sad to see some governments not having enough grasp of cryptocurrency and yet have the tenacity to be banning or controlling this industry. Hope that they talk to the people affected with their decisions and have a dialogue to form a partnership so to address many fears and questions well enough. I understand that there is a growing community in Vietnam that are enthusiastic with cryptocurrency and the county has talented people who can contribute a lot towards the development of this industry.
Currently, there are a lot of scam projects related to crypto in Vietnam, so the Vietnamese government is reacting very hard to the issue related to crypto. In order to protect the people and their power, they decided to take a very extreme way: restricting, prohibiting and penalizing.
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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 (https://cointelegraph.com/news/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?
It is no news now that we are facing the same thing in Nigeria now since the Government have stopped all Banks from operating accounts that have been trading in cryptocurrencies. Some Accounts have actually been blocked by some banks by like you said, all crypto currency traders have now resulted to P2P trading and like yours too, we cannot mention anything that will remotely give any sign that, that transaction is crypto related.
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First of all the government of my country is actually afraid of Cryptocurrency that it may throw away their currency at risk of deflamation or make it valueless but my greatest surprise naira against Bitcoin is the highest traded Cryptocurrency in Africa, with the current ban on crypto on bank transfer and withdrawal.
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Cryptocurrency is the digital asset but its really sad to say that the government of our country is not accepted cryptocurrency. The government of our Country seems its a scam payment system. Thats why we are suffering from transact our cryptocurrency to others. Some times some People are arrested to transact others.
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The government of my country has not yet legalized cryptocurrency. Moreover, we ourselves know why they will not legitimize it now. The government has not yet clarified its position on the issue, saying it will be misused for the benefit of cryptocurrency.
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The government in my country has placed an outright ban on any form of trading cryptocurrencies with any exchange, such an exchange or individual account will be frozen if caught and attract some penalty, its quite disappointing that the apex bank which is CBN took such a bad decision to the detriment of large unemployed youths who found succor in trading cryptocurrencies although a lot of the youths has resorted to the use of P2P for their transactions without the government interference.
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@gabbie2010 do you know if in your country it is possible to sell and buy personally from other users?. In my country there are several places where you can buy and sell, they are not ATMs, they are somewhat similar to "stores", and although they are not very well known, they do their job very well.
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In my country I can have bitcoin, but I have no right to sell or buy. And if I have a wallet with coins I have to report it to the tax authorities. And the bank can also block my account if they suspect I am trading in cryptocurrency. Which happened this morning.
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@Johndoe that happens in several countries. As long as you have your cryptocurrencies in your wallets and do not convert them to fiat, and do not obtain an economic benefit, you will not have problems. The problem comes when you sell to fiat, they make you pay various taxes, and in some countries it is a very high percentage.
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@Johndoe that happens in several countries. As long as you have your cryptocurrencies in your wallets and do not convert them to fiat, and do not obtain an economic benefit, you will not have problems. The problem comes when you sell to fiat, they make you pay various taxes, and in some countries it is a very high percentage.
That's what happened. I exchanged 3.18 Monero through an exchange office for fiat on the evening of March 6. And this morning my debit account was blocked with the words "laundering of hidden profits. And I now have to prove that it is my money and not some hacker gang or even worse a terrorist organization.
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@Johndoe that happens in several countries. As long as you have your cryptocurrencies in your wallets and do not convert them to fiat, and do not obtain an economic benefit, you will not have problems. The problem comes when you sell to fiat, they make you pay various taxes, and in some countries it is a very high percentage.
That's what happened. I exchanged 3.18 Monero through an exchange office for fiat on the evening of March 6. And this morning my debit account was blocked with the words "laundering of hidden profits. And I now have to prove that it is my money and not some hacker gang or even worse a terrorist organization.
It's a pity that your government takes a rather extreme attitude towards crypto, because if people do not use crypto for payment, the position of fiat will not be affected and the government does not need to worry so much.
Have you worked with the bank and have any solutions yet? I hope you won't have any legal problems.
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Whether we like it or not the government will always do their best to regulate everything that has to be gain from every areas. Government are always against cryptocurrency because they don't want to implement crypto in business sectors. But some countries are supporting crypto improvement for the sake of their community.
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Whether we like it or not the government will always do their best to regulate everything that has to be gain from every areas. Government are always against cryptocurrency because they don't want to implement crypto in business sectors. But some countries are supporting crypto improvement for the sake of their community.
regulations will be made by the government by thinking about the pros and cons if they are prohibited, because after that it is clear that rules will have to be issued that can give legal force whether they are prohibited or allowed. all of course thought carefully so as not to harm in the future.
but in the age of technology has advanced and the development of the internet is also progressing rapidly, if there is a crypto prohibition there is clearly something that the government really wants to protect its citizens.
but many countries have also allowed crypto to be done because the development of crypto has advanced and is very helpful for many people.
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I'm sure your government needs time to take crypto for granted. Your country with strict laws and a great history! I advise you not to make sad conclusions and just wait. Cryptocurrency is tightly included in the financial sector of many countries, and it will soon be accepted by almost all powers.
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@Johndoe that happens in several countries. As long as you have your cryptocurrencies in your wallets and do not convert them to fiat, and do not obtain an economic benefit, you will not have problems. The problem comes when you sell to fiat, they make you pay various taxes, and in some countries it is a very high percentage.
That's what happened. I exchanged 3.18 Monero through an exchange office for fiat on the evening of March 6. And this morning my debit account was blocked with the words "laundering of hidden profits. And I now have to prove that it is my money and not some hacker gang or even worse a terrorist organization.
It's a pity that your government takes a rather extreme attitude towards crypto, because if people do not use crypto for payment, the position of fiat will not be affected and the government does not need to worry so much.
Have you worked with the bank and have any solutions yet? I hope you won't have any legal problems.
Today I came to my branch of the bank. I met with the manager. I presented all the proof that it was my money. Since I am disabled after a stroke, I explained to them that I earn freelance, and people can pay in dollars(for example) or cryptocurrency. Now I have to pay 13% taxes on my income. Now that's an adventure.
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How your country's government views cryptocurrencies will usually depend on that country people can easily use crypto if there is no commission and no tax if the government supports it. However crypto is illegal in most places the government did not legitimize it because it could not control it.
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In my country I can have bitcoin, but I have no right to sell or buy. And if I have a wallet with coins I have to report it to the tax authorities. And the bank can also block my account if they suspect I am trading in cryptocurrency. Which happened this morning.
Does this mean your bank account was block just due to suspect on crypto trading? Is there not suppose to be a proof that your account was actually used for crypto trading before it can be block? Any ways, the government of my country has ordered that all banks close Bank accounts that have been CONFIRM to be trading in crypto currencies that's why most traders have resolved to P2P now with no indication or mentioning of any thing relating to crypto while transacting.
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In my country I can have bitcoin, but I have no right to sell or buy. And if I have a wallet with coins I have to report it to the tax authorities. And the bank can also block my account if they suspect I am trading in cryptocurrency. Which happened this morning.
Does this mean your bank account was block just due to suspect on crypto trading? Is there not suppose to be a proof that your account was actually used for crypto trading before it can be block? Any ways, the government of my country has ordered that all banks close Bank accounts that have been CONFIRM to be trading in crypto currencies that's why most traders have resolved to P2P now with no indication or mentioning of any thing relating to crypto while transacting.
We have a law that allows the bank to block accounts if there is suspicion. And since cryptocurrency is not controlled by the state, hence all the consequences. They recognize it as a means of accumulation or value, but not a means of payment for settlements. As I wrote above - I can save it, but I have no right to sell or pay for something with it.
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@Johndoe after what happened to you, I think the best thing you can do is look for alternative ways to convert crypto to fiat, the banks only serve so that the usual ones have more money, they are only friends of the corrupt, they are not friends of normal people like us.
In my country there are two sites (which look like stores but are not) where crypto is bought and sold by hand, in addition to being able to do it with other users in the area.
Another way you can try to convert crypto to fiat is Paxful, very simple to use: https://paxful.com/
I hope you have more luck next time @Johndoe, and if we can help you with something else, you know where we are.
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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 (https://cointelegraph.com/news/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?
Within most of Europe, pretty well accepted. Could be better, as time goes on it will change
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We are here free to do activities with Cryptocurrency, but from the government there are no specific regulations regarding this Cryptocurrency. It seems that our government in the future will accept Cryptocurrency as a legal currency, because the domestic finance department recently announced that it has recognized several Crypto coins as legitimate Crypto coins.
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With recent restrictions and policies with cryptocurrency in my country and similar things on several others, I can only conclude the government feels it threatening to the centralisation and control the government has on the financial system. It could not be totally direct but it is quite glaring what they're trying to achieve and aiming at.
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With recent restrictions and policies with cryptocurrency in my country and similar things on several others, I can only conclude the government feels it threatening to the centralisation and control the government has on the financial system. It could not be totally direct but it is quite glaring what they're trying to achieve and aiming at.
Yes, I think . Several countries thaught crypto currency is a threat. They have blocked crypto currency. Because the government can't control the crypto . But In my opinion, I think they are wrong because crypto currency is the future currency.
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I read above all comments but all comments positively accepted bitcoin and cryptocurrencies as legal but I am living such kind of countries where cryptocurrencies are completely prohibited. And who use cryptocurrencies , police seized him and put him jail.
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In my country the central bank had placed a ban on cryptocurrencies related transactions especially exchangers who sell and buy cryptocurrencies any account that deals with cryptos is frozen and blocked the government is very hostile to cryptocurrencies now however the way out is P2P deals which is done in a such a way that transactions carried out with the two parties should not be reveal or must by anonymously done.
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With recent restrictions and policies with cryptocurrency in my country and similar things on several others, I can only conclude the government feels it threatening to the centralisation and control the government has on the financial system. It could not be totally direct but it is quite glaring what they're trying to achieve and aiming at.
where youre country?
why youre government must use police, bitcoin user not criminal
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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.
Yes, I think the government need to learn about crypto currency well. Effect, margin and advantages of crytpo currency. Because I see in my country hasn't blocked but not legalized too. that's no matter. it's only a matter of time
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Cryptocurrency transactions are not legal in all countries of the world. I think cryptocurrency transactions are not important for poor and middle class developing countries. Because the economy of poor and developing countries can be destroyed if the cryptocurrency market is hit hard. So I think cryptocurrency transactions are a sign of further improvement for developing countries
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With recent restrictions and policies with cryptocurrency in my country and similar things on several others, I can only conclude the government feels it threatening to the centralisation and control the government has on the financial system. It could not be totally direct but it is quite glaring what they're trying to achieve and aiming at.
Yes, I think . Several countries thaught crypto currency is a threat. They have blocked crypto currency. Because the government can't control the crypto . But In my opinion, I think they are wrong because crypto currency is the future currency.
Governments try to ban and block everything they cannot control. Cryptocurrency cannot be controlled by the government, so some countries are very aggressive to anyone who uses crypto.
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With recent restrictions and policies with cryptocurrency in my country and similar things on several others, I can only conclude the government feels it threatening to the centralisation and control the government has on the financial system. It could not be totally direct but it is quite glaring what they're trying to achieve and aiming at.
Yes, I think . Several countries thaught crypto currency is a threat. They have blocked crypto currency. Because the government can't control the crypto . But In my opinion, I think they are wrong because crypto currency is the future currency.
Whether it is the future or not, I understand people are always apprehensive to something new and cryptocurrency happens to be one of them and the purpose it performs too makes it even more scary to the government as they might see that they will loss control of their financial system.
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Cryptocurrency transactions are not legal in all countries of the world. I think cryptocurrency transactions are not important for poor and middle class developing countries. Because the economy of poor and developing countries can be destroyed if the cryptocurrency market is hit hard. So I think cryptocurrency transactions are a sign of further improvement for developing countries
those governments that today oppose cryptocurrencies in their country will not be able to resist the global trend for a long time. Of course, you can be a closed state like North Korea, but most countries cooperate with each other and trade, and the leading countries of the world will very actively begin to use cryptocurrency in international activities in the near future.
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I read above all comments but all comments positively accepted bitcoin and cryptocurrencies as legal but I am living such kind of countries where cryptocurrencies are completely prohibited. And who use cryptocurrencies , police seized him and put him jail.
As a great man once said: "If it's not allowed, it's forbidden! If it is forbidden, then it is not allowed!! If there are such laws in your country, you should keep them and not use cryptocurrencies in illegal ways and wait for the adoption of this financial instrument as one of the priority payment systems! In the meantime, I advise you to collect and store the earned cryptocurrency, then there will be more!
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I read above all comments but all comments positively accepted bitcoin and cryptocurrencies as legal but I am living such kind of countries where cryptocurrencies are completely prohibited. And who use cryptocurrencies , police seized him and put him jail.
It's a shame what happens in your country, but there are still ways to continue working with cryptocurrencies. It will always be possible to buy and sell by hand to other users in your country or city. In my country, when there was still no regulation (the one that exists now, nobody can understand it) we did what I told you between 2013 and 2014.
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Cryptocurrency trading, using are fully illegal in our country. Government and Central Bank has banned cryptocurrency trading, using, helping as illegal and under punishable. Although Govt is working on Blockchain technology implementation in various important fields. We have to work, trade in cryptocurrency sectors with cautious.
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Well the government in my country already embraced cryptocurrencies but only few people knows about cryptos and also few were add crypto as a payment method. I want to see that every stores has crypto payment, that would be awesome.. so hopefully in the future my dream will come true.. :)
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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
I think you are lucky, because the government of your country is in favor of cryptocurrency. You can work freely, your income is valid. And in my country cryptocurrency transactions, use is completely illegal in the state. Law enforcement has occasionally cracked down on crypto users, and has already jailed several. Those of us who are involved in cryptocurrency are always working out of fear of law enforcement. We are not socially dignified, we are looked down upon.
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As I wrote before I also encountered problems with withdrawal of money in my country. and now I have written official requests to the Ministry of Finance, the tax police. Why can't I get paid for my work in cryptocurrency and exchange it into fiat. I do not refuse to pay taxes. and it is my money. I am waiting for an answer now. The system needs to be broken, and if you keep silent, it will be the same (this is my strictly personal opinion, and I do not call anyone to do it).
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I am so glad that I live in Indonesia. The government of this country is very wise to conform to cryptocurrency. In 2019, they accept Bitcoin and also cryptocurrency as an asset of the commodity but this is not legal for money or currency.
And government also supports the projects or exchanges and also the development of the cryptocurrency so far
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In my country, crypto is legal for digital asset but it cannot use for payment tools. So, we are here commonly convert the crypto to our national currency in our local crypto exchange.
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I think that my country is very welcome to cryptocurrency because it is a legal commodity, which means all people in my country are able to invest or trade with crypto coins. Now, crypto investment/trading becomes more popular day after day. Also, there are some seminars about crypto education that provide by the crypto community, exchange, or people who have experienced in crypto.
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Every country's government has their right to implement any rules or regulation on the use of crypto currencies, as they have their reasons. If properly controlled, the use and legalization of crypto currencies will positively affect the economic nature of the country.
Recently, the government of my country restricted and placed a ban on the purchase of bitcoin and other crypto coins with the use of bank transactions, having it in mind that it will be used for illegal money transactions that cannot be traced or monitored.
Well, no matter how the country will want to place ban on the use of crypto currencies, it is only within their control, cause the use of P2P has made it more easier.
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I read this topic and see all your messages guys. Most people write that their governments have either completely banned the use of cryptocurrencies or partially. This is a simple and clear explanation that is not difficult to solve. The fact is that when you are afraid of something and do not understand how it works, you avoid it with all your might, the same situation is here. For them, the most important thing is to take a tax to the treasury, until they make such a tool that it will not be possible to circumvent and cheat, cryptocurrencies will be banned (outlawed) and there will probably be huge fines and court cases!
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My country's government has now banned cryptocurrency. Because the government of my country thinks that if the cryptocurrency of the country is legalized, various kinds of criminal activities will increase. For this reason, our government has banned cryptocurrency considering its various disadvantages. But hopefully soon cryptocurrency will consider good aspects. The government will declare cryptocurrency legal.
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In my country its being treated as a scam by our Government, amplified by the media so that people won't believe it. I know that banks are behind it, for they would rather have people use a centralized currency than the one they can't take any profit from.
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though my country is going against it, because they feel it not letting the country stock exchange grows, so they dont have any option than to ban it, so as of now no direct exchange of crypto currency to local currency.
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From your comments, it seems that we are still living in the darkness of the financial world before the dawn of crypto. Governments do not want to learn, do not want to accept Bitcoin & crypto, meaning they are trembling in fear of the change from the crypto wave.
Anyway compared to 4 years ago, I believe the crypto market has matured, and maybe just 4 years from now, just like we are hearing about companies buying BTC, we will see more countries wil greedily collect BTC.
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It is, fortunately, that most governments in jy country and then make this as the best ways to promote this, including holding the coins and also make it for investment. So far, we can see that bitcoin is only available but the fact is differed right. The price of altcoins will be still increasing
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Ohio may be the most crypto friendy state in USA.
A few years back "Ohio made news as the first state in the nation to accept tax payments using cryptocurrency. Less than a year later, the program has been suspended after accusations that it wasn’t properly vetted."
I was almost able to pay taxes with my crypto, but someone had to get involved.... I can covert BTC into silver/gold/platinum here which is nice.
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In my country , cryptocurrencies are fully illegal and governments, central banks dislike cryptocurrencies. But most of the people in my countries are supporting bitcoin but some political issues cryptocurrencies not accepting in our country.
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In my country , cryptocurrencies are fully illegal and governments, central banks dislike cryptocurrencies. But most of the people in my countries are supporting bitcoin but some political issues cryptocurrencies not accepting in our country.
to decide that it is clear that the state will see a greater interest, which will certainly benefit the good of the country. but one day with progress that continues to develop, the country must accommodate crypto to be accepted because users will obviously grow in size and will experience its own dilemma.
in my country crypto is not recognized if it is to be used as a legitimate exchange, but for other transactions it is not prohibited. so each country will be different in determining the decisions of things like this.
Be patient if there is a ban because of course it cannot continue to happen like this because the state must also be able to adjust to the continuous renewable technological advances.
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Governments don't want people to fully adopt it since many people will ask why fiat money minting is unlimited and not transparent to people while theres a blockchain which can be monitor every transaction efficiently I hope all country will create its own CBDC very soon to be transparent to its people , corruptions may reduced once this was implemented that paper money is not anymore effective to fight corruptions CBDC is more secured and transparent.
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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.
Same with me bro. I think that it is too difficult using Bitcoin as currency because it has been stated that so far, Bitcoin will never be a currency. They said that it is so cmplicated.
For me, I do not mind that, as long as I can use crypto as investment and trading, it is enough.
I agree with you. Bitcoin and other are still not legal for payment method, just for a commodity or digital investment. Maybe at the coming future we will see crypto currency be legal and could be used payment method.. We will see.
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Governments don't want people to fully adopt it since many people will ask why fiat money minting is unlimited and not transparent to people while theres a blockchain which can be monitor every transaction efficiently I hope all country will create its own CBDC very soon to be transparent to its people , corruptions may reduced once this was implemented that paper money is not anymore effective to fight corruptions CBDC is more secured and transparent.
In fact, triggering this pandemic is very appropriate for the government to encourage not to continue using fiat money, because fiat money is thought to be one of the triggers of transmission. but it seems that the government has not done it for many reasons, like in my country fiat money is still used for transactions in traditional markets that have not been reached by the internet. but for cities there have been many felt reductions in the use of fiat money, but using digital money that is promoted by private parties, you cannot use crypto because in my country crypto is not recognized as a legitimate exchange. even though there is no prohibition for transactions in crypto.
the application of not using fiat money has automatically been carried out by those who know crypto, but it cannot be maximized because there are still very big obstacles, namely government regulations, so it needs more time to be done perfectly for crypto.
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In Bulgaria at present, there is no comprehensive regulatory framework governing country’s growing FinTech sector and transactions using crypto currencies, such as buying, selling, and paying with Bitcoins, are not subject to licensing requirements.
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I live in Russia, the government does not want to allow people to use cryptocurrency and trying to block Internet sites with this topic.
But a lot of Russian are working in cryptocurrency sector. It's very sad. Govt can think the interest of the users either by taking taxes or creating own stable coin to convert their cryptos in exchange for fees. It will help govt to earn huge amount of revenue and the users also can work freely.
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@Malam90 maybe it's because the Russian government prefers to keep all the cake for themselves. In my country there are several teams with crypto projects that have had to register their company in Malta or Estonia because the CNMV (national stock market commission) asks for too many taxes, and then in addition to that they ask for a percentage due to laws that have not yet been approved. They want everything and they no longer know whether to prohibit or invent laws.
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@Malam90 maybe it's because the Russian government prefers to keep all the cake for themselves. In my country there are several teams with crypto projects that have had to register their company in Malta or Estonia because the CNMV (national stock market commission) asks for too many taxes, and then in addition to that they ask for a percentage due to laws that have not yet been approved. They want everything and they no longer know whether to prohibit or invent laws.
Besides India, Russia is a country with many good experts in the IT field, we know that the founders of Ethereum & Telegram are Russian. It's sad that the government doesn't want to take advantage of these high-quality human resources. Autocratic politics does not allow transparency and freedom, especially in economics.
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Besides India, Russia is a country with many good experts in the IT field, we know that the founders of Ethereum & Telegram are Russian. It's sad that the government doesn't want to take advantage of these high-quality human resources. Autocratic politics does not allow transparency and freedom, especially in economics.
I totally agree with you. Instead of taking advantage of what they do, they "force" talented people to move to another country. This has also happened many times in my country (Spain). The most recent case was a few weeks ago, the ministry officials in charge of payments and subsidies to workers were attacked, and instead of paying a national company, the government preferred to pay a foreign company to do the security audit. The reason? the foreign company charges 15% less than the national one...
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As a bangladeshi people we can say that the government of our country did not accepted crytocurrencies. Though it is a digital currency but the government of our country yet think it is a scam currency.
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I live in Russia, the government does not want to allow people to use cryptocurrency and trying to block Internet sites with this topic.
I somehow do not really understand why they got the idea that cryptocurrency is prohibited in Russia. Why then are there discussions about what tax and from what turnover to take? Problems with regulation do arise, but this is the first time I hear such a thing to prohibit. I would like to see a link to the resource on which it is written about the prohibition of cryptocurrency in Russia.
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Well over here in my country Nigeria the government placed a ban on crypto during January, but recently the ban was lifted and now we can buy and sell crypto, but it seems the banks are not going to start accepting deposits from any crypto firm soon, since they are hell bent on government banning crypto, they probably hate the fact that nowadays people prefer storing their money in their personal crypto wallets rather than save them in the bank.
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The government of my country has not yet legalized this cryptocurrency. However, even if we do not give legitimacy, we are still using it secretly. If the government of my country had been so strict, we would not have been able to use it in such a way. But I think one day the government of my country will give the legalization of bitcoin. There are some reasons why Bitcoin is not legalized in my country. One of the reasons is that our country is a least developed country. Ninety-nine percent of the people in this country are poorly educated and unemployed, so they will invest in cryptocurrencies without knowing it and will fall into a big loss later. However, he thinks that cryptocurrency will give legitimacy in this country today or tomorrow.
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The government in my countries are viewing cryptocurrencies but in the other way of holding in terms of money because most of the politics in my country are so much corruption mostly in the blockchain organization they are not totally support in crypto by viewing the good of the people.
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The government of my country has not yet legalized this cryptocurrency. However, even if we do not give legitimacy, we are still using it secretly. If the government of my country had been so strict, we would not have been able to use it in such a way. But I think one day the government of my country will give the legalization of bitcoin. There are some reasons why Bitcoin is not legalized in my country. One of the reasons is that our country is a least developed country. Ninety-nine percent of the people in this country are poorly educated and unemployed, so they will invest in cryptocurrencies without knowing it and will fall into a big loss later. However, he thinks that cryptocurrency will give legitimacy in this country today or tomorrow.
Me too, In my country crypto currencies are not legalized. But I think that's not problem. We still can invest and trading crypto, because the government doesn't block crypto currency. It is really a good thing.
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I agree that many governments have yet to accept crypto for fear that many people will join and lose money by crypto-related scam projects. However, as far as I can see, even when they have not yet accepted, a lot of investors still join ponzi projects and lose money. If the government saw this as a solution, it would have failed completely.
I think it is necessary to enact the legal framework. It specifies issues related to investment & activities of organizations & individuals in the crypto sector, forms of handling fraudulent projects, taxation on crypto income and plan on education, adoption, development of crypto.
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I agree that many governments have yet to accept crypto for fear that many people will join and lose money by crypto-related scam projects. However, as far as I can see, even when they have not yet accepted, a lot of investors still join ponzi projects and lose money. If the government saw this as a solution, it would have failed completely.
I think it is necessary to enact the legal framework. It specifies issues related to investment & activities of organizations & individuals in the crypto sector, forms of handling fraudulent projects, taxation on crypto income and plan on education, adoption, development of crypto.
You are really very right, because very often the government still carries out the fight against fraudulent projects, who by any means practically steal money from citizens. The same situation today exists in my country with certain companies that provide quick loans. But when it comes to cryptocurrencies, the government is most concerned with controlling the profits and expenses of its citizens. I believe that the government cannot yet come up with such legislative acts that would fully allow it to control its people.
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The problem of legalization is, and whether all investors are ready to provide information about income sources and pay taxes from this? Many are ready to risk, but not to give the state of such information
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Until now there has been no definite decision about Cryptocurrency and Bitcoin, and actually there are not many people who understand Cryptocurrency or Bitcoin, especially they are traditional people who live in villages. But I am optimistic that our government will accept Cryptocurrency and Bitcoin, but when that will happen we do not know.
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the most interesting thing is that our government does not recognize cryptocurrency as a means of payment, but as property with which to bribe and prosecute.
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I live in Ukraine and the government of my country is now slowly moving towards the legalization of cryptocurrency. Soon there will be another meeting where there will be amendments to the upcoming law.
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@Kitaiev it is good news that your country's government continues to work on cryptocurrencies even if they are slow. In my country (Spain) they don't move, they look like rag dolls without brains. There is a lot of talent here on blockchain and even several leading companies, but it seems the government doesn't even know they exist, missing many opportunities.
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Recently, information appeared on the network about the statement of Catherine Wood, addressed to the holder of bitcoin, and she stated that cryptocurrency users should not convert Bitcoin to Fiat currency until the state proposes the appropriate form for taxation. She, as an authoritative expert and founder of Ark Invest Management, stated that US citizens will have to face huge problems and taxes if today users want to cash out the income they received from the Bitcoin rally. The fact is that the IRS has launched a very large-scale work to identify the hidden incomes of citizens, while the structure is fully engaged in staffing employees who will be very actively trained in blockchain.
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Well i am from India and government of India is somewhat against to the crypto currency they had passed the bill in 2017 that rejected by supreme court again in 2021 they pass the same bill i think banning of crypto currency for any state is not the option it is the future digital currency support it now
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@Orange89 I have not read about the state of cryptocurrencies in India for a long time, but if the government finally decides to ban them, they will make a serious mistake, and perhaps that is what the government needs to realize and soon after lift that ban. Hopefully they are not so stupid and do not ban cryptocurrencies.
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Actually, cryptocurrency in my country is now legal but only for digital currency and also halva. So far, we can see how interesting.If you have more idea or function about what and wiaitng for 24 is now always very increasing where the kids are showing its respect for plating agit.
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The government in our country view crypto currency is legal but they're still studying it thoroughly, it pros and cons and how it is being used and also how it help the economy in our country.
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The government in our country view crypto currency is legal but they're still studying it thoroughly, it pros and cons and how it is being used and also how it help the economy in our country.
From what you say, the government of your country is doing things correctly, studying what cryptocurrencies offer and knowing in depth how they work. That is having a positive attitude towards the things that can offer wealth to a country and its citizens, rather than closing your mind as other governments unfortunately do.
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For any state, this is a very delicate topic, since there are completely anonymous cryptocurrencies,
states do not like this, the impossibility of receiving taxes, and also opens the door to criminals.
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My government just recently slammed its gates to cryptocurrency, which was politically motivated. But much of the population are neck deep into crypto
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For any state, this is a very delicate topic, since there are completely anonymous cryptocurrencies,
states do not like this, the impossibility of receiving taxes, and also opens the door to criminals.
Cryptocurrencies are not responsible for the use that users give them, we are responsible for those uses. The fact of using cryptocurrencies with a high level of privacy does not imply that it is used for criminal acts, although there are people who use them for that, furthermore, according to a recent study it is revealed that only 1% of cryptocurrencies are used for illicit acts. And that may upset governments, but what bothers them the most is not being able to have a piece of the pie in the form of sky-high taxes.
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In my country, the government is quite friendly to cryptocurrency. They already legalize crypto as digital assets, but still cannot be used as payment tools. However, it is not a big problem for me, we can easily convert our crypto assets to fiats in our local exchanges. I think in the future, the government may think to allow it for payment purposes.
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Where I live all governments allow us to be creative by themselves, including in bounties, airdrops, investing and trading cryptocurrency.
Even though sometimes we get the advantages and disadvantages of cryptocurrency, all of it is returned to ourselves and the government will not interfere with what has happened.
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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
You are lucky to live in a crypto friendly country. The government of my country is crypto hate, they have banned cryptocurrency by law and have provided various punishments including jail time for those who are involved in crypto users, investment, trade. Already, several people have been jailed for cryptocurrency transactions. So those of us who love crypto do crypto transactions very secretly. We are not evaluated socially either. I don't think the government has a clear idea about cryptocurrency, they think cryptocurrency is only used for money laundering and black market.
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For any state, this is a very delicate topic, since there are completely anonymous cryptocurrencies,
states do not like this, the impossibility of receiving taxes, and also opens the door to criminals.
Cryptocurrencies are not responsible for the use that users give them, we are responsible for those uses. The fact of using cryptocurrencies with a high level of privacy does not imply that it is used for criminal acts, although there are people who use them for that, furthermore, according to a recent study it is revealed that only 1% of cryptocurrencies are used for illicit acts. And that may upset governments, but what bothers them the most is not being able to have a piece of the pie in the form of sky-high taxes.
It is clear that anonymous cryptocurrencies use a small part for criminal purposes, but states understand the importance of this area, thereby banning anonymous cryptocurrencies, they immediately kill two birds with one stone, receive taxes and reduce money laundering rates. :)
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It is clear that anonymous cryptocurrencies use a small part for criminal purposes, but states understand the importance of this area, thereby banning anonymous cryptocurrencies, they immediately kill two birds with one stone, receive taxes and reduce money laundering rates. :)
Yes you're right. I have not said that cryptocurrencies are not used for illicit acts, what I have said is that not all of us are responsible for those acts and cryptocurrencies are not guilty either. Guilty are the people who use them in a bad way. Governments must prosecute and judge these people, not make society believe that all cryptocurrency users are the same.
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Where I live all governments allow us to be creative by themselves, including in bounties, airdrops, investing and trading cryptocurrency.
Even though sometimes we get the advantages and disadvantages of cryptocurrency, all of it is returned to ourselves and the government will not interfere with what has happened.
That's true, in my country, the government doesn't interfere with what we do, joined bounty aidropd and do daily trading. because those're not illegal activities. We have done good way to get profit from crypto currency. I see many friends in my country done it too.
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In my country the problem is not participating in rewards or creating crypto projects. In my country, the problem is that the moment you convert your crypto into fiat, the finance ministry asks you where it came from, how you got it, and why you want to sell it. This has been happening for the last two years, before it could be done without problems, but now they are waiting for you to do something to tell you the percentage that you have to give to the government :o.
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It is clear that anonymous cryptocurrencies use a small part for criminal purposes, but states understand the importance of this area, thereby banning anonymous cryptocurrencies, they immediately kill two birds with one stone, receive taxes and reduce money laundering rates. :)
Yes you're right. I have not said that cryptocurrencies are not used for illicit acts, what I have said is that not all of us are responsible for those acts and cryptocurrencies are not guilty either. Guilty are the people who use them in a bad way. Governments must prosecute and judge these people, not make society believe that all cryptocurrency users are the same.
States ban anonymous cryptocurrencies because they don't know what to do with them. By banning them, they buy time to come up with a solution to this problem.
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The government of my country has banned cryptocurrency. No bank in my country is associated with cryptocurrency. If the government of my country legalizes cryptocurrency then money laundering will increase in the country. Various types of criminal activities in the country will start to increase. So cryptocurrency is still banned in my country.
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It is clear that anonymous cryptocurrencies use a small part for criminal purposes, but states understand the importance of this area, thereby banning anonymous cryptocurrencies, they immediately kill two birds with one stone, receive taxes and reduce money laundering rates. :)
Yes you're right. I have not said that cryptocurrencies are not used for illicit acts, what I have said is that not all of us are responsible for those acts and cryptocurrencies are not guilty either. Guilty are the people who use them in a bad way. Governments must prosecute and judge these people, not make society believe that all cryptocurrency users are the same.
States ban anonymous cryptocurrencies because they don't know what to do with them. By banning them, they buy time to come up with a solution to this problem.
Well, after the years that anonymous coins have existed, they have not solved anything. They haven't legislated with laws or made decrees or anything. I do not know if what governments want is to buy time or to "forget" the anonymous currencies over time, which will never happen.
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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?
Like your country crypto is ban in my country Bangladesh. Police are always looking for crypto users. Arrests as soon as found.
While the whole world is running towards digital money, some third world countries like ours are running after crypto users. I think considering the positive side of cryptocurrency, the government should applaud it.
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Firstly my country is not agree and looks hate with bitcoin but after billion dollar transaction every day now they try to adopt and want to make tax for bitcoin fees, looks joke when the first time bitcoin is not allowed but after have worth now try to get tax, how ever if bitcoin still not an illegal transaction hard to get tax from bitcoin and altcoin transaction.
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In my country the problem is not participating in rewards or creating crypto projects. In my country, the problem is that the moment you convert your crypto into fiat, the finance ministry asks you where it came from, how you got it, and why you want to sell it. This has been happening for the last two years, before it could be done without problems, but now they are waiting for you to do something to tell you the percentage that you have to give to the government :o.
The government is getting involve in cryptocurrency although through indirect way. Are they implementing tax?
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The government is getting involve in cryptocurrency although through indirect way. Are they implementing tax?
The government has several draft taxes for cryptocurrencies, and depending on the area of the country in which you live, they apply one rate or another. The problem is that it is not yet a law voted in the Senate and the Ministry of Finance has many problems knowing what to do. I know people who have been told by lawyers that the money for the state can be up to 25% of the total amount, it is an armed robbery, and all for the same as always, not leaving clear and easy to understand laws.
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My country still not allowed using bitcoin and cryptocurrency as legal payment way with any trouble and just allowed only for trading or investing, but this not make many trader and investor more disappointed because my country never banned using bitcoin as investment assets, but hope for the future will make bitcoin and altcoin as legal payment currency transaction.
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Many countries do not want to legalize bitcoin, cryptocurrency. This is not very good, because sooner or later, bitcoin is the business of every country. Take the same India https://www.nasdaq.com/articles/how-bitcoin-adoption-will-help-india-achieve-its-%245-trillion-economy-2020-01-03-0 (https://www.nasdaq.com/articles/how-bitcoin-adoption-will-help-india-achieve-its-%245-trillion-economy-2020-01-03-0) , so in this country they agreed on the adoption of bitcoin by the state. In my country, cryptocurrency is not prohibited.
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Why you still take care with government to allow and make bitcoin become legal currency transaction payment? I think just take care how you can trade and investing only with bitcoin, when government now allow for trading and investing is the best thing for bitcoin, we pass from tax and not all people will know how much bitcoin assets have.
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My country does not prohibit cryptocurrency, everyone can buy and sell Bitcoin at any time if they want, but one thing that is not allowed is buying goods with Bitcoin is not allowed because it is against the law.
That's why I can only buy Bitcoin like gold ... only for investment.
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My country's government and central bank have declared Bitcoin completely illegal. If anyone is involved in the bitcoin business in violation of government regulations, legal action will be taken against them, including fines. So I can't use Bitcoin directly in my country.
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My country's government and central bank have declared Bitcoin completely illegal. If anyone is involved in the bitcoin business in violation of government regulations, legal action will be taken against them, including fines. So I can't use Bitcoin directly in my country.
The governments that are doing what they have done in your country will sooner or later regret it, in Nigeria, for example, something similar happened, first they wanted to ban it, then they said they wouldn't ban it, then they said they had to talk... I think they make decisions very quickly and then they realize the benefits they can have for their country.
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My country's government and central bank have declared Bitcoin completely illegal. If anyone is involved in the bitcoin business in violation of government regulations, legal action will be taken against them, including fines. So I can't use Bitcoin directly in my country.
The governments that are doing what they have done in your country will sooner or later regret it, in Nigeria, for example, something similar happened, first they wanted to ban it, then they said they wouldn't ban it, then they said they had to talk... I think they make decisions very quickly and then they realize the benefits they can have for their country.
Looks many countries still not support with bitcoin because they not really understand how and what benefit from bitcoin as transaction currency payment, maybe when they understand how bitcoin sending payment make easy and faster they will adopt bitcoin as legal currency transaction.
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My government still grey in this area, already give protection law and support but looks too careful, that's good but for us the fence too high. In next 2 - 3 I believe they will release taxes for all activity involved crypto but I can see there's no education for their citizen, that's not fair. I hope they see crypto as product and asset, need to manage but also giving public services because until now only exchanges came but developer no.
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The government of my country has banned cryptocurrency. The government of my country did not legalize cryptocurrency. Because our government thinks that if cryptocurrency is legalized, various types of money laundering and criminal activities will increase. But we who work in the cryptocurrency market hope that in the future the government of my country will declare cryptocurrency as legal considering the importance of cryptocurrency or digital currency.
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The Cryptocurrency restriction in my country is affected by the banks in region but you as a person you are free to trade the Cryptocurrency at your own convinance but were the problem is you can't transact with the banks, although this brought about public reactions why the central bank place ban on Cryptocurrency transactions with banks in the country.
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@Delgboke
Banks will do their very best to stop the massive patronize from the people. If the citizens knows how beneficial to earn bigger profit from banks, most likely they will invest to crypto then banks where only %0. or %1 something the profit from long time investment.
Banks also seek their own good.
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fortunately in my country crypto can be accepted and it will greatly affect the development of crypto in the future. although there are still many who do not understand the world of crypto at least crypto is starting to be accepted and known by many people.
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fortunately in my country crypto can be accepted and it will greatly affect the development of crypto in the future. although there are still many who do not understand the world of crypto at least crypto is starting to be accepted and known by many people.
It is very fortunate that you are in the territory of a country that has accepted Bitcoin and Cryptocurrency, although currently not many people know Cryptocurrency, it is your job to inform those who do not understand Crypto. And you are also very lucky because you can get to know Crypto earlier than others.
You have to make the best use of these conditions, there are many ways you can do to benefit from Crypto, by allowing Cryptocurrency in your country it will be very easy to do all Crypto activities there, it's really very fun.
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Many people in our country are involved with cryptocurrency. But the government has not yet recognized cryptocurrency and for this reason banks do not consider bitcoin transactions to be legal. But I think in the case of a developing country the legitimacy of bitcoin will play a huge role in economy.
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Many people in our country are involved with cryptocurrency. But the government has not yet recognized cryptocurrency and for this reason banks do not consider bitcoin transactions to be legal. But I think in the case of a developing country the legitimacy of bitcoin will play a huge role in economy.
That will happen until banks in many countries realize how much money they are missing. When many banks and governments know the amount of taxes they could charge thanks to cryptocurrencies, I am sure that it will change their way of thinking. Again, it is only a matter of time.
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The governments of many countries impose restrictions to use cryptocurrencies in their territories not because they oppose the introduction of new modern technologies, but because they want to keep them under their control, but do not yet have a clear understanding of how to do this.
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there are some countries that cannot accept crypto and it will certainly hinder the development of the crypto there. fortunately in my country crypto is already acceptable to the public and also the government. several companies have also taken part in the world of crypto. many people are interested in the world of crypto and learn it so that the development of crypto in my country is growing rapidly.
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My country is Bangladesh. Cryptocurrency is illegal in Bangladesh. However, blockchain is currently supporting Bangladesh. It is expected that various projects will be legalized in Bangladesh through blockchain. However, it has not been officially announced yet.
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My country is Bangladesh. Cryptocurrency is illegal in Bangladesh. However, blockchain is currently supporting Bangladesh. It is expected that various projects will be legalized in Bangladesh through blockchain. However, it has not been officially announced yet.
Blockchain can be used for many more things besides cryptocurrencies, perhaps your country's government will give cryptocurrencies a chance after realizing that blockchain is here to stay, but sadly, it is not just a government decision, as banks and companies will do anything to defend their interests.
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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
How lucky you Italian people but here in south asian country we are struggling with crypto currency because our government not want to start cryptocurrency or any block chain technology development established .The government people notice that if the blockchain technology develop the social security system breakdown . All transactions will behind the government and the opposite political parties out of control and power party will lose their power and money.The criminals and mafia do everything that they want for those reasons the government of our country will not start cryptocurrency technology .
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I live in Indonesia when, fortunately, cryptocurrency is legal here,
But, cryptocurrency is only legal as a digital asset, a stock or commodity where we can trade or invest based on our own risks to take. And there is a law about this under Bappebti regulation and also Kominfo for certain exchanges.
However, cryptocurrency is illegal or forbidden if used as a currency or payment in any case.
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I am grateful that in my country crypto can be accepted and crypto has also been legalized. currently, even many people learn it because it can be said that crypto is growing rapidly in my country. of course, I am happy and I hope the crypto world can be more advanced even though there are still some countries that ban it because of their rules. every country must have their own rules and as good citizens, we must be able to accept it
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In Russia, there is a monitoring of cryptocurrencies and they are introducing the payment of tax, they even moved away from generally accepted standards and go their own way in cryptography, then it is correct to call it not a seed phrase, but a mnemonic password for entering the account, because these arbitrary 15 words are then hashed and one private is obtained key, seed phrase this is a little about something else about HD wallets
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My government is very open and friendly to the crypto industry in fact they have a special place for all crypto-related projects in my country but at the same time the regulatory bodies are always reminding us about the risk in crypto investment but in totality, it's just only a reminder nothing more nothing less.
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The government of Ukraine has registered a bill that involves the legalization of cryptocurrencies! It was developed by the blockchain community The bill was defined by the basic terms: virtual asset, crypto asset, token, token asset. According to the document, the tax rate on income of individuals with investment income from the sale of cryptoassets will be 5%. Also, the sale of cryptoassets will not be taxed!
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At the moment my country has not declared cryptocurrencies as legal tender because the state bank has no clear policies about it but i was told that the state bank and the govt. Is devising a policy around crypto so that it can be allowed according to the rules.
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In my country, there are no laws regulating cryptocurrency, there are also no taxes, but the issue of the state digital currency is being actively discussed, and then the law with taxes, so I think sooner or later all countries will start considering laws and taxes on cryptocurrency, it is only a matter of time.
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in my country Indonesia, cryptocurrency is only considered as an investment asset...
the prohibition of using cryptocurrency as a means of payment in my country has been regulated by law and cannot be violated. I'm sure in the future this rule will change over time.
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The government of Ukraine has registered a bill that involves the legalization of cryptocurrencies! It was developed by the blockchain community The bill was defined by the basic terms: virtual asset, crypto asset, token, token asset. According to the document, the tax rate on income of individuals with investment income from the sale of cryptoassets will be 5%. Also, the sale of cryptoassets will not be taxed!
As far as I know, at least four bills on the legalization of cryptocurrency have been registered in the Verkhovna Rada of Ukraine, and some of them even provide for a zero rate on profits in cryptocurrency. I am a little surprised by this, because in connection with the hybrid war with Russia, which has been going on for the eighth year and the loss of its significant territories in this regard, the Ukrainian economy is now going through difficult times and therefore a number of new taxes are being introduced. Perhaps this is due to the fact that many deputies of this legislative body themselves show significant amounts in cryptocurrency in their declarations.