Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: vs2014 on January 03, 2024, 07:09:09 PM
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There are many countries where crypto currency is banned but what is the exact reason due to which the government of that country has to take such a harmful decision. Do you think crypto currency should be adopted and is it helping the economic development of any country? But i have seen many unemployed youths have found economic success through crypto currency.
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There are many countries where crypto currency is banned but what is the exact reason due to which the government of that country has to take such a harmful decision. Do you think crypto currency should be adopted and is it helping the economic development of any country? But i have seen many unemployed youths have found economic success through crypto currency.
It is very clear that when there are several digital currencies, such as cryptocurrencies, their use is prohibited in a country because the initial trading regulations in that country must have rules for using certain currencies or local currencies. But when technology develops to the point of finding digital currencies, the regulations must be clear and must comply with the rules of that country. Meanwhile, cryptocurrency is a digital currency that is anti government because its circulation cannot be controlled by anyone, so the best way is to prohibit the use of cryptocurrency in certain countries.
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In my country, actually crypto is not banned for all tyoes. I mean that crypto is legal if used as a commodity asset, for investment, trading, and other crypto activities related, based on our own risks to take.
but crypto is not legal if used as a currency. the main reason is that the only currency to be used as paent method based on the law and regulation in my countri is only Rupiah.
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In my country, crypto is illegal as a payment tool. But it is legal to use as a digital asset. We have the laws that regulates the matter about payment tool, it only legalizes our national currency. I think it is okay to use crypto for digital assets, we can convert them to our national currency if we need fiats. As long as it can be used for investment, I believe there will be more development and adoption of crypto in my country.
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I believe there will be more development and adoption of crypto in my country.
I also believe this, maybe the rules are not as strict as those in other countries, which is why crypto in our country is developing very quickly and many new members are even joining. Regarding legality, it depends on the government, it doesn't matter if it is not legal as currency as long as trading crypto is not prohibited
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The former CBN Governor of my country Godwin Emiefele was the one that restricted banks from using crypto currency, which now made some people said that it has been banned due to his hatred for it because he saw that businesses and some institutions have started adopting it and they are shunning the bank due to their high transaction fe and delay with flaws in their operations. This didn't still prevent the youths to take advantage of this great technology to use as a means to make income for themselves. So I will say that any government that bans crypto sees it as a threat to their own currency because it wasn't created by them. I am happy now that the new administration has legalized crypto recently.
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I believe government usually ban cryptoccurencies because of its privacy and how its been used for fraudulent acts or terrorism, the thoughts is biased in favour of fiat but they can trace the movements of fiat money via bank.
In my country cryptocurrency was banned from been bought via banks as at 2021 but the ban was lifted of recent. This ban came as a result of the misuse of it by fraudsters in my country in cheating individuals overseas of their funds.
But i have seen many unemployed youths have found economic success through crypto currency.
Cryptocurrency doesn't guarantee success but serves as an opportunity. Yeah people made it big via crypto like other opportunities but there exist many that got liquidated or scammed.
Cryptocurrency is still young. We fortunate to be around during is early days. Now that's an opportunity.
I am happy now that the new administration has legalized crypto recently.
Yes they have but the question is why. I don't really picture our governments as the "I love my youths type". In the case of banning by Godwin, i don't think he is in alone.
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In my country, cryptocurrency has become something that no longer has to be hidden. There is some news that has legalized cryptocurrency. This is in line with the aim of digital currency as a payment method or storage of assets which I think is quite safe
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Each country will have regulations that are adapted to its own country's situation, and it is very likely that one country and another will see them differently because they will certainly be adjusted to the country's needs and capabilities in overcoming problems that might be caused by the existence of crypto currency. So I think it's legitimate for some countries to date not to accept it in full or accept it with restrictions. Even though some may say that the existence of cryptocurrencies has helped many people, it is certain that each country will also see other impacts that might arise from this acceptance.
Even though my country does not legalize cryptocurrencies as a legal medium of exchange, it does not prohibit trading, so cryptocurrencies can only be used after exchanging them for local currency.
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In my country, cryptocurrency has become something that no longer has to be hidden. There is some news that has legalized cryptocurrency. This is in line with the aim of digital currency as a payment method or storage of assets which I think is quite safe
Does this mean that in your country crypto can be used for payments and is supported by the government?
This is very profitable because we don't need to use fiat money to carry out buying and selling transactions. I think crypto adoption will continue to grow over time
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In my country, crypto is illegal as a payment tool. But it is legal to use as a digital asset. We have the laws that regulates the matter about payment tool, it only legalizes our national currency. I think it is okay to use crypto for digital assets, we can convert them to our national currency if we need fiats. As long as it can be used for investment, I believe there will be more development and adoption of crypto in my country.
As practice shows, the circulation of cryptocurrency is prohibited in states with an authoritarian form of government, where the rights of citizens are infringed, so the government is afraid of losing control over the financial sector of the economy, and this means the end of their economic power of violence. Cryptocurrency gives relative financial freedom to people, and this is very dangerous for such governments.
Democratic states, as a rule, allow the circulation of cryptocurrencies, developing only moderate control over their circulation in order to avoid abuse by individuals and establish uniform rules for their legal circulation in society.
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From where I am from, crypto is not recognized as a legal tender although there are already some shops/establishments that accepts BTC and other top alts as payment. When it comes to taxation, there is no official treatment yet and I have not heard any recent bill on crypto that's being discussed in our Congress. The closest thing and the best proof that it's legit here is that there are regulated/licensed centralized trading platforms and fiat-payment gateways.
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In my country crypto is not prohibited but it is not legalized either, as long as it is not used for payments in my country it is fine to trade, because in my country crypto trading is taxed even in small amounts but indirectly my country seems to support cryptocurrency, but I don't know, I think my country It's really strange with this crypto problem
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There are many countries where crypto currency is banned but what is the exact reason due to which the government of that country has to take such a harmful decision. Do you think crypto currency should be adopted and is it helping the economic development of any country? But i have seen many unemployed youths have found economic success through crypto currency.
The biggest possibility is that a country bans crypto because the government is afraid that their local money is useless. All its citizens use digital money. As we know, sending funds in the form of crypto is very fast, as are the profits obtained if we enter into trading, and there will be real fear. there is a lot of money laundering by rich people and high-ranking government officials,
behind the success of crypto holders there is a story that they actually keep, if we only look at their success without looking at the process and risks they have faced it is really easy to adapt to crypto
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There are many reasons for governments to ban crypto:
+ protects fiat and the central bank's control of the economy.
+ protect inexperienced investors.
+ combat money laundering and terrorist financing.
But on the contrary, El Salvador has shown the world that accepting crypto is good for the country's development: increasing global popularity, boosting tourism and the national economy. Additionally, crypto taxes are also quite attractive for country.
In long term: crypto and blockchain can change our finances and society in many positive ways. Governments should promulgate a framework to regulate this crypto market instead of banning it.
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I am from a top west african country and crypto was banned because the government sees it as a competitor to the currency, which is doing very poor and tanking against the dollar. Also they see it as a good money laundering means, even though there are other money laundering avenues they know about
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Most countries banned the flows of crytop currencies from their countries due to the lack of trust of the crypto currencies, so the governments of the countries immensely tends to protect their citizens from possible means of fraudulents without being traceable due to coins custodian measures.
Some countries are just being sentimental with the conciousness that crypto currencies might come to be massively adopted in their countries and devalues the usefulness of their fiats so to mentally, they tends to secure the value of their fiats.
And lastly, some of the governments whom banned crytop currencies into their countries are because there is no possible chances of them the government to decide or monitors how m individual investors goes about its own crypto investments with their expectations of taxation which the individuals has boycotted still based on the self custodian of the crypto currency.
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Your nation's choice to ban cryptocurrency is truly regrettable; it appears to have been made with poor judgment and a lack of insight. Although cryptocurrency can be used to launder money, it can also be an effective tool for financial innovation and inclusiveness. It's unfortunate that the authorities are unable to recognize the advantages of cryptocurrency, as the prohibition is likely to hinder innovation and economic development in your nation.
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There are many countries where crypto currency is banned but what is the exact reason due to which the government of that country has to take such a harmful decision. Do you think crypto currency should be adopted and is it helping the economic development of any country? But i have seen many unemployed youths have found economic success through crypto currency.
Many countries prohibit the entry of cryptocurrencies into their countries because they think that cryptocurrencies will damage the value of their country and even their country's economy could be destroyed due to the input of cryptocurrencies. but what you say is true, most unemployed people are successful because they run a digital currency business so they can change their economy from before.
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Many countries prohibit the entry of cryptocurrencies into their countries because they think that cryptocurrencies will damage the value of their country and even their country's economy could be destroyed due to the input of cryptocurrencies. but what you say is true, most unemployed people are successful because they run a digital currency business so they can change their economy from before.
It seems that only a few countries do not allow their countries to use digital currencies such as cryptocurrency because each country has its own policies, which certainly differ from one country to another. Cryptocurrency is a digital currency that is difficult to regulate; therefore, not many countries grant permission to use cryptocurrency in their countries.
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I believe no cryptocurrency is banned in my country. One can argue that some exchange tokens like BNB are banned because their exchange is blocked if they don't have a registered office in the country, but as far as I can tell, local exchanges can freely trade them. No tokens are explicitly banned, but the government does release a list of safely tradable cryptocurrencies that need to be followed by any registered exchanges. This is good to limit exposure to low market cap/scam tokens, at least that's how they argue about it. I don't think there's any inconvenience following that regulation though since most of the low market cap tokens are not the priority for traders most of the time.
Many countries prohibit the entry of cryptocurrencies into their countries because they think that cryptocurrencies will damage the value of their country and even their country's economy could be destroyed due to the input of cryptocurrencies.
As far as I'm aware, most countries ban crypto as a means of payment, but people can trade it just like stocks. I don't think the number of countries that explicitly ban and will sentence people to jail because they own Bitcoin or other crypto is that many. CMIIW.
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There are many countries where crypto currency is banned but what is the exact reason due to which the government of that country has to take such a harmful decision. Do you think crypto currency should be adopted and is it helping the economic development of any country? But i have seen many unemployed youths have found economic success through crypto currency.
Isn't cryptocurrency here in our country because somehow our government is open to digital technology, or blockchain? So I don't really know the real feeling. If I'm one of the crypto enthusiasts, then why is crypto in the country? Just like that situation, it's very difficult.
So their only solution in such a situation is to use a VPN, but it's still difficult, to be honest. Besides that, if the government of a country is really open to blockchain technology, it will really help their economy.
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In my country, Ukraine, cryptocurrency is not prohibited, and there are no legal prohibitions. But there is no official status of cryocurrency, which gave rise to some misunderstanding of the prospects of this market. The adoption of laws regulating this topic, as well as issues related to the taxation of transactions with cryptocurrency, is planned for 2024. In the preliminary version, the taxation scheme is quite acceptable, as is the possibility of working with cryptocurrency as an investment asset. Yes, cryptocurrency is not accepted as a means of mutual settlements, which is quite logical, but alternative transactions with it are not prohibited. The year 2024 will finally regulate work in this segment
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Well, crypto was previously banned in my country, a West African state. But it has now been lifted, and certain rules instituted, like banks cannot involve in crypto transactions themselves. And such transactions should be routed through the central body for regulations
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Most countries prohibit the entry of cryptocurrencies because it will be detrimental to the country, but in my opinion the entry of cryptocurrencies in a country will increase the country's ecosystem and even accelerate the country's economic rise... true, most unemployed youth are successful by investing in cryptocurrencies but why? countries prohibit it so that if crypto currency enters a country it will reduce unemployment in that country.
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To become experienced investors, we must have more knowledge in the crypto world and even have a market community so that we know market movements. Each person is different in building their portfolio depending on their knowledge in this field and having skills in trading.
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Most often, the ban on cryptocurrency in certain countries is due to the country’s reluctance to change its traditional finances. Some banks are afraid of cryptocurrency, and also of decentralization and regulation. The issue of cryptocurrency bans in countries is always difficult. On the one hand, this may be an attempt to maintain control over finances and fight fraud. On the other hand, I have seen many examples where cryptocurrency has helped young entrepreneurs in countries with high unemployment.
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Many countries prohibit the entry of cryptocurrencies into their countries because they think that cryptocurrencies will damage the value of their country and even their country's economy could be destroyed due to the input of cryptocurrencies. but what you say is true, most unemployed people are successful because they run a digital currency business so they can change their economy from before.
It seems that only a few countries do not allow their countries to use digital currencies such as cryptocurrency because each country has its own policies, which certainly differ from one country to another. Cryptocurrency is a digital currency that is difficult to regulate; therefore, not many countries grant permission to use cryptocurrency in their countries.
I think they should allow the crypto market with a proper plan because it can really bring back balance of money supply for a country. As many unemployed people are able to earn money from crypto by trading, investing and other rationalizations. Based on their own principles t will also agree to approve it once in a while.
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Well, crypto was previously banned in my country, a West African state. But it has now been lifted, and certain rules instituted, like banks cannot involve in crypto transactions themselves. And such transactions should be routed through the central body for regulations
I think your government has a good policy for crypto currency.
What the reason your government ever banned crypto?
Maybe they don't know about crypto technology.
Crypto currency is the future technology, and we know no one can refuse the future.
So, I think they rethink..
In my country , crypto didn't banned but also didn't allow for payment method.
I think that's normal.
Because many companies didn't allow crypto currency yet, maybe at the coming years.
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My country is a crypto-friendly place, and as a matter of fact, the government didn't really pay any serious attention to crypto investors; every investor is at their own risk. In my country, there are a lot of Bitcoin investors, traders, and also most investors who are lovers of altcoins, and they usually buy low to sell high and make a cool profit. Cryptocurrencies have actually made some people increase their wealth because they invested in Bitcoin and some other altcoins that were able to give them a huge profit. As a matter of fact, during the first pump of Shiba Inu, I know of two crypto enthusiasts in my country who made a huge profit of more than $50,000. Also, there is a coin with the ticker "CHZ," which my friend made a huge profit from, and other tokens too. Most of these guys who made huge profits from crypto have become wealthier than before.
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There are many countries where crypto currency is banned but what is the exact reason due to which the government of that country has to take such a harmful decision. Do you think crypto currency should be adopted and is it helping the economic development of any country? But i have seen many unemployed youths have found economic success through crypto currency.
In my country Indonesia, it doesn't matter what cryptocurrency is banned there. but more about government regulations for cryptocurrency and also all aspects related to this. because everything is regulated under the law and also the authority of one of the institutions in my country.
The regulation is that cryptocurrency is legal to be used as a commodity asset for investors or traders who want to trade or invest in cryptospace, but with risks borne by each of them. However, cryptocurrency is not permitted or considered illegal if used as a means of payment or as currency in this country. The reason is because this country only uses one legal currency as a means of payment, namely the Rupiah. So yes, just follow these regulations as long as crypto is still legal to use for investment and trading. What's important is apart from just using it as currency. It's just that if, for example, one day this is legalized, it would be better. Moreover, in this country many foreign tourists come to travel, so who knows, it could make things easier for them.
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Cryptocurrency is not in our country because we have local exchanges here that accept cryptocurrency, although they are regulated by our government. although there is a little restriction right now in this industry in our country.
Although there are still many solutions, even if there is ever a ban on crypto in our country, that's why there isn't one because our country is crypto-friendly, and I am thankful for that anyway.
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Cryptocurrency isn't banned in our country, and I don't think that the Government can ban it "completely".
I guess it's safe to say that in our country, the government doesn't pay that much attention when it comes to cryptocurrencies. They aren't imposing any sanctions, or regulations whatsoever. What they are doing is just giving us advice, and tips in order for our cryptocurrencies to be safe. Well, I wonder how the people who are living in a country where cryptocurrency is banned have access to crypto still. VPNs maybe? I mean how they can withdraw it still?
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There are many countries where crypto currency is banned but what is the exact reason due to which the government of that country has to take such a harmful decision. Do you think crypto currency should be adopted and is it helping the economic development of any country? But i have seen many unemployed youths have found economic success through crypto currency.
Based on my observation countries that banned Bitcoin or cryptocurrency as a whole see it as a threat to stability of their economy or the country itself as we all know most cryptocurrencies were decentralized and they have no control of it so they are afraid it will be used in fraud, funding terrorism, money laundering or other illegal activities.
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There are many countries where crypto currency is banned but what is the exact reason due to which the government of that country has to take such a harmful decision. Do you think crypto currency should be adopted and is it helping the economic development of any country? But i have seen many unemployed youths have found economic success through crypto currency.
Based on my observation countries that banned Bitcoin or cryptocurrency as a whole see it as a threat to stability of their economy or the country itself as we all know most cryptocurrencies were decentralized and they have no control of it so they are afraid it will be used in fraud, funding terrorism, money laundering or other illegal activities.
Of course, this will be a serious threat because you can see Bitcoin price movements that are unstable and have fallen to the bottom price from $40k down to $20k and become very cheap. Imagine if all the assets in all countries were in Bitcoin, then it would be The country will definitely be destroyed because Bitcoin price movements are currently controlled by the global elite, or people who have a lot of money who will have a big influence on Bitcoin price movements. So when a government decides not to use Bitcoin as a transaction tool, it is a pretty good choice to avoid the risk of unwanted bad things happening.
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As far as I can tell, the government of our country thinks that the possibility of money laundering through crypto currency is very high. Moreover, the cryptocurrency market is highly volatile. So the government thinks that if we invest then any time our investment money can become zero. And cryptocurrency transactions have no boundaries. He can make as many transactions as he wants. So the government will not be able to identify the transactor properly. So maybe the government of my country has banned cryptocurrency.
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Where I live in Cryptocurrency, it is not prohibited or Banned.
Instead it has a strong regulation because it is supported by the existing financial institution agency and received an audit of various financial services.
We also have local markets and are also supported by various private and government financial institutions but appropriately the government and financial services also have the character of DWYOR.
Why does the government continue to give Dwyor's appeal because the government already knows and understands the workings of cryptocurrency that is "decentralized", so the government cannot be touched if we lose our assets by our own mistakes.
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There are many countries where crypto currency is banned but what is the exact reason due to which the government of that country has to take such a harmful decision. Do you think crypto currency should be adopted and is it helping the economic development of any country? But i have seen many unemployed youths have found economic success through crypto currency.
Cryptocurrencies in my country are not completely prohibited, what is prohibited is carrying out direct transactions, for example buying goods and services which are not allowed here.
But if we want to invest in cryptocurrencies and also trade cryptocurrencies on crypto exchanges we are free to do so here.
Even the government provides tax rules for every cryptocurrency transaction on official exchanges in our country.
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There are many countries where crypto currency is banned but what is the exact reason due to which the government of that country has to take such a harmful decision. Do you think crypto currency should be adopted and is it helping the economic development of any country? But i have seen many unemployed youths have found economic success through crypto currency.
I live simultaneously between two countries - my relatives are in one of them, and my wife is in the other. And the laws of these countries are very different. For example, in one of them the casino is legal, but in the other it is not. That’s the case with cryptocurrencies: in one country they are very well accepted by the state, you don’t have to pay taxes, there are incentives for opening cryptocurrency businesses, such as exchanges. But in another country, cryptomaniacs are persecuted, and if you say that you are a cryptomaniac, then they will betray you and take away everything that you have accumulated over the years. It's scary, but it's true.
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In my country, we're kinda odd so we do some crazy things and undo it later maybe when there's a change of constituted authority of that particular aspect. Crypto was banned at first in my country due to no particular reason probably fraud or illegal activities or selfish-interest but now its has been undo just like that :D and now much more free as it used to be
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Is it banned?
No, it is not. It is legal, but the legality is limited only as comodity asset. It is exavtly illegal if we us crypto as payment method. Our country has its solid law about the currency used as payment in this country, only Rupiah. So, if we want to use crypto as payment, we must convert it at first to our country fiat. Except that we habe relatives or collega that accept using this coin but of course nobody else know about it.
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In my country, we're kinda odd so we do some crazy things and undo it later maybe when there's a change of constituted authority of that particular aspect. Crypto was banned at first in my country due to no particular reason probably fraud or illegal activities or selfish-interest but now its has been undo just like that :D and now much more free as it used to be
Yes, we cannot know the policies implemented by the government, especially since policies can change with the change of power from one to another, so policies will certainly change too. Prohibitions are sometimes due to a government's unpreparedness in anticipating what will happen with technological advances, but it is certain that they will gradually be accepted because they cannot avoid these technological advances.
You are lucky, friend, that the current problem no longer occurs and you can accept its existence, because perhaps there are still many countries that still prohibit it.
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Cryptocurrencies in my country are not completely prohibited, what is prohibited is carrying out direct transactions, for example buying goods and services which are not allowed here.
But if we want to invest in cryptocurrencies and also trade cryptocurrencies on crypto exchanges we are free to do so here.
Even the government provides tax rules for every cryptocurrency transaction on official exchanges in our country.
Supposedly if the government provides tax regulations on crypto, it means the government recognizes the existence of crypto and should legalize all transactions with crypto and be ready to provide solutions if there are reports of fraud by fellow crypto users, and losses
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There are many countries where crypto currency is banned but what is the exact reason due to which the government of that country has to take such a harmful decision. Do you think crypto currency should be adopted and is it helping the economic development of any country? But i have seen many unemployed youths have found economic success through crypto currency.
My country would be a perfect example of this particular thought of yours, there are so many people that have benefited so much through the outburst of cryptocurrency to the world and Bitcoin being the particular coin. We all know that most government frawn at the use of cryptocurrency especially Bitcoin but and this also happened when the central bank of my country put a ban on other commercial bank but that didn't stop the Bitcoin and crypto enthusiast to stop using it so many other means were derived to successfully go about its use and enormous benefits to the whole financial system of the world.
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But i have seen many unemployed youths have found economic success through crypto currency.
It would be good if you gave examples of what kind of success you mean and how many young people have achieved it. If you mean income from trading or investing, limiting the use of cryptocurrencies seems to be enough to serve their needs. Yes, simply by regulating cryptocurrency like a commodity, that way the government can be friends with cryptocurrency.
As long as cryptocurrencies are still decentralized and are still associated with negative issues such as the darknet and so on, many countries are reluctant to take the risk of fully legalizing cryptocurrencies. People like freedom, but the government needs supervision. Something that will never be agreed upon.
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In my country, Crypto currency is not banned but there used to be restrictions which was placed by the apex bank called the central bank restricting banks from carrying any transaction that is Crypto related in the country and also instructed the banks to fish out any account that is likely dealing on Crypto and Bitcoin for immediate actions but however, the restrictions been lifted and banks can now deal on Crypto transactions but still then, people are still sceptical about the lifting of restrictions on crypto transaction as a trap meanwhile the government is looking at implementation of Crypto policy for crypto currency transactions in the country.
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In my country, Crypto currency is not banned but there used to be restrictions which was placed by the apex bank called the central bank restricting banks from carrying any transaction that is Crypto related in the country and also instructed the banks to fish out any account that is likely dealing on Crypto and Bitcoin for immediate actions but however, the restrictions been lifted and banks can now deal on Crypto transactions but still then, people are still sceptical about the lifting of restrictions on crypto transaction as a trap meanwhile the government is looking at implementation of Crypto policy for crypto currency transactions in the country.
In my country, crypto isn't banned, same like in your country.
But crypto just for investment, the government restricted as payment method.
At the past, I heard several countries ban crypto, but I think It's just temporary.
Because no one can refuse the technology.
As many people said crypto is the future technology.
I believe crypto will be more popular at the coming future.
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Crypto must be adopted to almost all countries. Here in my country, development is good if it is about. blockchain and cryptocurrencies. Binance is about to get banned and we have to rely on other international exchanges and as well as our local exchanges. However, cryptos are not banned here and we are happy about the policies about it and the competition of exchanges here is getting tighter and the government wants to push most of us to use local exchanges.
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In my country, Crypto currency is not banned but there used to be restrictions which was placed by the apex bank called the central bank restricting banks from carrying any transaction that is Crypto related in the country and also instructed the banks to fish out any account that is likely dealing on Crypto and Bitcoin for immediate actions but however, the restrictions been lifted and banks can now deal on Crypto transactions but still then, people are still sceptical about the lifting of restrictions on crypto transaction as a trap meanwhile the government is looking at implementation of Crypto policy for crypto currency transactions in the country.
In my country, crypto isn't banned, same like in your country.
But crypto just for investment, the government restricted as payment method.
At the past, I heard several countries ban crypto, but I think It's just temporary.
Because no one can refuse the technology.
As many people said crypto is the future technology.
I believe crypto will be more popular at the coming future.
Crypto is the new technology that is yet to be tapped. It has it value and functionality in many ways which we can not comprehend. Countries banning it now would regret their actions in years to come for not taking advantage of it now.
My country has no restrictions on crypto any more because they have seen the value of it but as of now no organisation or business is accepting it for payment but p2p trading do exist and there trading of Crypto is more recognised than the normal banking system of trading of Crypto ie buying and selling of Crypto with payment made through the bank.
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There are many countries where crypto currency is banned but what is the exact reason due to which the government of that country has to take such a harmful decision. Do you think crypto currency should be adopted and is it helping the economic development of any country? But i have seen many unemployed youths have found economic success through crypto currency.
Till date there was no clear and if official statement that made by the government of my country to be cryptocurrencies I the country. But the ban came after the massive youth protest against police brutality with the # tag of endsars. And in the early part of December 2023 the government lift the ban of cryptocurrency and allow everyone to use it. So we expecting the full adoption of bitcoin in the country.
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Crypto must be adopted to almost all countries. Here in my country, development is good if it is about. blockchain and cryptocurrencies. Binance is about to get banned and we have to rely on other international exchanges and as well as our local exchanges. However, cryptos are not banned here and we are happy about the policies about it and the competition of exchanges here is getting tighter and the government wants to push most of us to use local exchanges.
If I may ask, which country are you in? why is bitcoin banned there? restricted or banned.
iF binance has been banned, we can do transaction in other reputable exchange, such as Kucoin, Huobi, Lbank.
Block chain technology should be addopted.
In my country, on process.
Because the government didn't ban crypto currency.
It's good for us, As a crypto lover.
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There are many countries where crypto currency is banned but what is the exact reason due to which the government of that country has to take such a harmful decision. Do you think crypto currency should be adopted and is it helping the economic development of any country? But i have seen many unemployed youths have found economic success through crypto currency.
Crypto currency is illegal in my country and government is not taking any kind of challenging planning regarding the legality of crypto currency especially the political context of my country is not positive at all. Moreover, the Central Bank has no power to control Bitcoin on behalf of the Central Bank and the Government. Moreover, there is instability in the political environment of my country and there is a possibility that a large part of the country may be laundered by money laundering process through crypto currency. That is why my country's government is not making any positive comments or planning about the validity of Bitcoin, seeing such a distant future.
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The internal decision of the country usually rests with the country's government and if a country's government does not allow cryptocurrency in their country, there must be some reason behind it. Governments of some countries think that the economic condition of their country is not very strong, so if they allow crypto currency in their country, it may worsen the economic condition of their country. Governments of some countries think that if these things are approved, the people of their country will invest in all these platforms and their country's money will go out of the country. However, there are many poor countries that are involved in Bitcoin and cryptocurrencies and who are contributing to the economic development of their countries by being involved in Bitcoin. If the government of a country thinks well when it comes to making decisions about crypto currency, then the positive aspects of crypto currency will be more than the negative aspects.
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There are many countries where crypto currency is banned but what is the exact reason due to which the government of that country has to take such a harmful decision. Do you think crypto currency should be adopted and is it helping the economic development of any country? But i have seen many unemployed youths have found economic success through crypto currency.
Cryptocurrencies are banned in most countries in the world, with only a handful of countries where cryptocurrencies are legal. One of the reasons why the government of my country does not legalize cryptocurrency is because the people of this country are less educated and my Bangladesh is a less developed country. If Bitcoin is legalized in this country, people will invest unknowingly and suffer. From my Bangladesh side, I always say that it is better not to legalize cryptocurrencies in this country because if cryptocurrencies are legalized in this country, the government and central bank of my country will not be able to control them. If it cannot be controlled then thousands of dollars will become black market from this country which will never be caught by anyone. Since people in my country are less educated, my country is less developed, money laundering is the most prone to happen from my country, political situation in my country is not good, considering everything, the government probably knows very well that if Bitcoin is legalized in this country, the government and the central bank will not be able to control it because of this. Bitcoin has been kept away from legalization in this country. But if we can work the way we are working then there will be no problem for us even if Bitcoin is not legalized.
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Not really care about bitcoin banned as payment currency transaction during in my country bitcoin have been legal as commodity assets, we are available for trading with local currency exchange have get regulation from government and not afraid when holding bitcoin or altcoin assets for long term. But can't acceptable with some countries bitcoin not only illegal as payment digital currency but also their government not allowed bitcoin as commodity assets.
Difficult position for us make cryptocurrency as investment assets for trading or holding when government not allowed as legal commodity assets, not easy how to withdraw and make deposit fund when government restrict bitcoin as legal payment currency transaction or commodity assets.
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Yes, we cannot know the policies implemented by the government, especially since policies can change with the change of power from one to another, so policies will certainly change too. Prohibitions are sometimes due to a government's unpreparedness in anticipating what will happen with technological advances, but it is certain that they will gradually be accepted because they cannot avoid these technological advances.
You are lucky, friend, that the current problem no longer occurs and you can accept its existence, because perhaps there are still many countries that still prohibit it.
You're are writing Interm of how a normal government behaves but I was talking about a country who does thing such as policies without any reason or benefit to the majority either than a self interest focus, but as you've said they will be left with no choice than accepting the fact that the technology is here!!! and there's nothing they can do about it than to adapt