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MrSpasybo

How does the government of your country view cryptocurrencies?

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

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

 

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

 

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

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In my country cryptocurrency have valuable. Because everyone would like to get in cryptocurrency.  So government making good decisions about cryptocurrency.  So with this government can create the maximum number of job. So let see what would happen. But i hope for best.

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Some countries have some fears to activate the cryptocurrencies dealing there because maybe some people will use them to make bad things like the terrorist or the drugs but in the same time there are people who like the investing in these currencies .

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    Well, I think it's sad to see governments to be specific in some of the third world with the most fragile economy tend to ban cryptography as they view it as a scam or money laundering machine.

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When 13 million people start using crypto in my country, the state sees crypto as a tax gate. I heard that they will also impose taxes and withholding tax on crypto. This situation will affect us. That's why I think the number of cryptocurrency users will drop a lot.

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Each time cryptocurrencies are accepted there will be some cost to pay. It could be privacy, taxation, less decentralization in the network, force of using third parties and others. But what we know already is that cryptocurrencies don't need regulations if they are decentralized. It means the network won't stop running at anything. Whatever happens it will keep running as the thousands miners are located around the world and it will be impossible for a government to stop all of them.

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On 3/5/2021 at 10:41 AM, MrSpasybo said:

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?

Cryptocurrency mining is being encouraged even from the government's end in our country and using crypto as a mean of payment is also allowed but tax has to be paid for the government. Blockchain based companies are finding their way massively in 2020 and still so many companies are coming into the existence. Everything is looking fine except some regulatory oversights in EU-based countries. 

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@kryptonickOf course, governments cannot ban blockchain, but with crypto, they can enact very harsh rules that make the crypto community less viable. The simplest way is taxation: taxes on crypto profits will be very high, and if you evade taxes, you'll go to jail 🙂

@Whited35I hope countries will take a better look at crypto and see it as part of the economy. By taking advantage of its benefits, governments will have more tax to operate, and the country's governance will become easier as ecosystems are transparent on the blockchain.

 

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7 hours ago, MrSpasybo said:

@Whited35I hope countries will take a better look at crypto and see it as part of the economy. By taking advantage of its benefits, governments will have more tax to operate, and the country's governance will become easier as ecosystems are transparent on the blockchain.

So those countries which are still imposing the ban against cryptocurrencies, have not realized the brightest sides of blockchain technology. According  to the pace of technology, so many advanced blockchains are come  into the existence to face the real-world problems. Government can allow crypto to solve the economic crisis and systematic blockchain adjustments can open the doors for an endless possibilities. 

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In fact, my friend, we work in our country with these cryptocurrencies and we earn daily profits and we have not been subjected to any accountability by the state. Perhaps this is against the laws, but we have not yet confirmed that.

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In my country, the government has not announced any position towards cryptocurrencies, but there is nothing we can buy through it, they do not only support it, I hope that my country will trust cryptocurrencies and become able to buy and trade in cryptocurrencies, because it is the future of this nation.

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I do not understand why governments are hostile in most countries with this wonderful technology, perhaps some of them are waiting for the establishment of their own digital currency for the government and allow its circulation only to support it, if this is the reason then it is logical, but it must be done as soon as possible

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@Whited35 @Dadouasaad123 @Samer1997The power of blockchain & crypto scares governments, they fear that they cannot continue to manipulate the economy, fear that their fiat will lose value and indirectly affect their economic interests. Their concept of money is still very outdated and not easily receptive to the concept of crypto.
Most countries still prohibit crypto payments, which is the ultimate way for them to protect fiat. But we still use crypto to easily send money abroad, the government can't control this trend.

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Every country should also start a good setup on cryptocurrency because crypto is a world wide programme which is used in all over the world amd there are several people attached to this site and earn a very good and valuable profitable earning from this online earning platforum. So i also advised to all members to keep well connected to this site and earn a very good profit from this site.

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11 hours ago, MrSpasybo said:

Most countries still prohibit crypto payments, which is the ultimate way for them to protect fiat. But we still use crypto to easily send money abroad, the government can't control this trend.

Lol, so true 😀 ! Check USA !! They are are investigating on Binance whether the exchange has allowed US users to use exchange or not but I believe, the authority can find more US users engaging on the Binance exchange and the reason is, users can use the VPN to access the exchange and it will not be intentional but the system of Binance may not fix in such cases as there is already the overloaded traffic on the exchange. Despite the strict policy, it is the case of cryptocurrency exchange and now you can just imagine what about the crypto non-custodial wallets where even the distinguishable personal information are not recorded 😀😁? Nothing is under control despite imposing the strict policies. 

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@Whited35I've always hated the manipulative hands of governments, who pump money into the market and devalue money every day. And it's exciting to see them powerless in trying to control the blockchain of cryptocurrencies. VPN, OTC market ... there are many ways for the crypto community to be free from government prohibitions.
Vietnam is the country with the second largest number of people participating in the crypto market in the world, although crypto has not been officially recognized in Vietnam 🙂

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7 hours ago, MrSpasybo said:

VPN, OTC market ... there are many ways for the crypto community to be free from government prohibitions.
Vietnam is the country with the second largest number of people participating in the crypto market in the world, although crypto has not been officially recognized in Vietnam 🙂

Oh are you based on Vietnam? Exciting to hear the cryptocurrency related cases in Vietnam. Eventually, your government should also officially recognize cryptocurrencies. If I am not mistaken, VinDAX is the Vietnamese cryptocurrency exchange, right? If yes, how government is imposing the tax on VinDAX exchange, curious to know more 😉!

Its the true beauty of cryptotalk forum as the members from so many countries around the world share their opinions, that's why this forum is addictive. 

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5 hours ago, Whited35 said:

Its the true beauty of cryptotalk forum as the members from so many countries around the world share their opinions, that's why this forum is addictive. 

You can say that again sir, not long ago I joined this forum but I really enjoyed spending most of my time here because not only earning one can meet new friends from different part of the world and also learn more about cryptocurrencies without much stress.

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My friend, as I said in a previous post a few moments ago, my government is now busy securing a decent living for citizens in my country, and the main economic concern is to support its national currency, even though it started with a project to launch a central digital currency of its own, but it will not be put up in the trading market, thank you very much.

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17 hours ago, Whited35 said:

Oh are you based on Vietnam? Exciting to hear the cryptocurrency related cases in Vietnam. Eventually, your government should also officially recognize cryptocurrencies. If I am not mistaken, VinDAX is the Vietnamese cryptocurrency exchange, right? If yes, how government is imposing the tax on VinDAX exchange, curious to know more 😉!

Its the true beauty of cryptotalk forum as the members from so many countries around the world share their opinions, that's why this forum is addictive. 

@Whited35The Vietnamese government continues to delay the issuance of a legal framework for crypto, so everything related to crypto in Vietnam cannot be developed.
VinDAX is a Vietnamese exchange, but it's not really that famous. We usually use VNDC, Binance & Remitano. The great thing is the government hasn't been able to tax our crypto profits yet, but in the future they will.

 

10 hours ago, abo hasnn5 said:

My friend, my government, despite the ban imposed on it by the countries of the world led by the United States of America, it generally seeks to establish its national currency on a digital currency and put it on the market in a large way, and most importantly, it has never sought to develop methods of withdrawing through the encrypted currency by establishing automatic teller machines in general. Thank you very much.

@abo hasnn5@abohasnn9 So does your country officially recognize the existence of crypto and will apply blockchain technology to CBDC? Or do they just issue CBDCs to satisfy people's wishes while it's just a kind of digital money like money in our bank accounts?

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@Master6We can see a wave of crypto adoption spreading around the globe, but it also worries many governments. And they decided to go against that trend to protect their power.
How is the crypto status in your country? Can you use crypto or pay tax on crypto income?

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8 hours ago, MrSpasybo said:

@Whited35The Vietnamese government continues to delay the issuance of a legal framework for crypto, so everything related to crypto in Vietnam cannot be developed.
VinDAX is a Vietnamese exchange, but it's not really that famous. We usually use VNDC, Binance & Remitano. The great thing is the government hasn't been able to tax our crypto profits yet, but in the future they will.

So what about the VNDC ? I have not much information about this one. In case of VinDAX, I have performed some trades on it but later I suspected using the exchange after noticing the listings of some scam projects' coins. Your government is more likely to be focused to protect the local currency before creating the digital infrastructure to allow the cryptocurrency transactions. 

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Wow, I know that many countries are not in good terms with cryptocurrecy, bit I never imagined that a country could be so strict about cryptocurrecies as the Vietnamese government, however, my country is very friendly about cryptocurrecies, they only monitor what is going on with cryptocurrecy as we know that it may be use for some dad purpose.

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I am living in two countries one in Europe and I visit often an Arab country for work in warehouses. There is a little difference but the general feeling is that in most Middle East nations the cryptocurrency is still something you do not discuss with a lot of people. Some merchants use and accept but it is under the fear of a ban that can be any time it is decided by government. In Europe this fear does not exist, the cryptocurrency is moved and traded with no problem and only the big transfer are give an alarm to the governments, while the small are always allowed.

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    • Forex and Cryptocurrency Forecast for 01 – 05 July 2024 EUR/USD: Inflation in the US – Everything is Going According to Plan   Last week, specifically on Thursday, 27 June, the dollar received support from positive macroeconomic data from the US. The Department of Commerce reported that according to the final estimate, the US GDP grew by 1.4% in Q1, against the forecast of 1.3%. (According to the current Fed forecast, the country's real GDP will expand by 2.1% in 2024). Labour market statistics were also optimistic – the number of initial jobless claims in the US amounted to 233K, lower than both the forecast of 236K and the previous figure of 239K. Durable goods orders did not disappoint either, rising by 0.1% in May against the forecast of a decline of -0.1%. Against this backdrop, the DXY dollar index rose to 106.10, approaching April highs, and EUR/USD dropped to 1.0685.   However, the main events of the week were scheduled for Friday, 28 June, the last trading day of Q2. 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It always is," Pal optimistically stated, noting that the "banana zone" for cryptocurrencies in autumn is much more pronounced than, for example, for the Nasdaq index.   Bitcoin was also supported by billionaire Michael Saylor. His company, MicroStrategy, is one of the largest bitcoin holders in the world, with 205,000 BTC on its balance sheet. Despite the negative trend, it increased its reserves by another 11,931 BTC (over $700 million) in the past month alone. Saylor is convinced of the first cryptocurrency's ability to grow to $10 million with support from China and other factors. He believes that in the future, governments, especially China, will fully embrace the first cryptocurrency and integrate it into the state infrastructure. The entrepreneur declared all pre-bitcoin economic instruments obsolete. "Before Satoshi Nakamoto, economics was a pseudoscience. All economists before Satoshi tried to develop economic laws with shells, glass beads, pieces of paper, and credit instruments," the businessman wrote, calling bitcoin a "perfect asset."   In previous reviews, we already wrote that the launch of exchange-traded spot ETFs on Ethereum could give a certain boost to the digital asset market. On 25 June, SEC (US Securities and Exchange Commission) Chairman Gary Gensler noted that the registration process for new ETFs is "going smoothly," and the approval date depends on how quickly applicants submit adjusted S-1 forms. Bloomberg analysts call 02 July the expected approval date for new products. Reuters, citing anonymous sources, reports that a consensus has been reached between fund managers and the SEC in negotiations, and only the "final touches" remain.   Co-founder of venture company Mechanism Capital Andrew Kang stated that after the approval of ETH-ETF, Ethereum's rate could correct by 30%, falling to $2,400. In his opinion, at this stage, the main altcoin attracts much less attention from institutional investors compared to bitcoin. Based on this, ETH-ETF will attract only 15% of funds compared to what BTC-ETF received at the start.   Kang noted that to increase Ethereum's attractiveness among investors, its ecosystem needs to be positioned as a decentralized financial settlement layer, a global computer, or a Web3 application store. At the same time, it will be difficult to sell new ideas for Ethereum's application to funds, as the asset is perceived by investors as an overvalued stock of a large technology company.   Significantly more positively views the future of Ethereum Matt Hougan, CIO of Bitwise, a company managing cryptocurrency funds. In his opinion, the appearance of a long-awaited exchange product is undoubtedly a positive factor, and the net inflow of investments into ETH-ETF over the first 18 months will amount to $15 billion. In his analysis, he relies on the experience of Canada and the EU, where in similar products the inflow ratio for Ethereum and Bitcoin is approximately 1 to 4 (i.e., 25%). In other words, if in the first quarter of work for spot Bitcoin-ETF the total inflow was $26.9 billion, for Ethereum it is expected to be at the level of $6.7 billion. In this case, in three months of work, the leading altcoin could rise to $4,400-5,000.   CEO of SkyBridge Capital Anthony Scaramucci believes that the price of Ethereum could rise even higher, reaching $10,000-12,000. Regarding bitcoin, the entrepreneur allows for its growth to $170,000-250,000. The main driver, in his opinion, will be the further institutional acceptance of cryptocurrency. Scaramucci called the approval of spot exchange ETFs an important regulatory barrier breakthrough for attracting new capital. Thanks to this, in his opinion, the share of digital gold in the portfolios of major players will soon be about 3%.   As of the evening of Friday, 28 June, BTC/USD is trading at $60,190, and ETH/USD is in the $3,390 zone. The total crypto market capitalization is $2.24 trillion ($2.34 trillion a week ago). The bitcoin Fear & Greed Index (Crypto Fear & Greed Index) has dropped from 63 to 47 points over the past 7 days, moving from the Greed zone to the Neutral zone.   In conclusion, here is another observation from Matt Hougan. The CIO of Bitwise presented three reasons why long-term investments in both bitcoin and Ethereum are more advantageous compared to investing only in bitcoin. These are: 1. portfolio diversification 2. the opportunity to earn on very different ecosystems and 3. economic benefit.   Considering the difference in the capitalization levels of bitcoin and Ethereum, Hougan believes that 75% of the capital should be invested in BTC and 25% in ETH. According to calculations, over the period from May 2020 to May 2024, the yield of such an investment portfolio is 3% per annum higher than one that only contains bitcoin. However, Hougan acknowledges that in the shorter term, a portfolio including 100% BTC outperforms a diversified one. Moreover, investing only in bitcoin carries fewer risks due to its higher market capitalization and features such as limited coin issuance and a phased reduction in the inflation rate to zero.   NordFX Analytical Group   Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/ 
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    • Добрый день, уважаемые пользователи! Пожалуйста, обратите внимание! У нас произошла смена контактов Telegram, по причине - предотвращения появлений фейков, прошлое имя пользователя было слишком длинное и была высокая возможность изменить несколько символов и визуальные отличий не было бы. По этому мы создали "имя пользователя" максимально коротким и простым. Прежние контакты "имя пользователя" - @Finansovich_exchange (Больше не актуальны!) Действующие (новые) контакты "имя пользователя" - @fin_exc (Актуальны!) Пожалуйста, будьте внимательны, переходите по прямой ссылке которая указана в топике, помните-что мы не обрабатываем заявки в Telegram, все заявки обрабатываются исключительно через наш сайт!
    • В 2024 году уменьшаются запасы долгосрочных холдеров BTC. В мае долгосрочные инвесторы продали 160 000 BTC на сумму 10 млрд$. В июне было продано 40 000 BTC. Также продают майнеры и держатели спотового ETF BTC. Рынок находится в стадии угнетения и большинство инвесторов начинает задумываться о выходе с помощью обменника cryptonet.pro
    • Скоро начинаются листинги по следующим проектам!                                   HAMSTER COMBAT - топ1 тап-приложение (более 150 млн. пользователей). Листинг в июле BLUM - это инновационная биржа в Telegram, созданная экс-топ-менеджерами Binance. На платформе доступен механизм активации фарм-токенов. Накапливаем максимальное количество токенов будущей биржи до листинга. GRASS - Проект предоставляет возможность заработка за счет использования пропускной способности вашей сети. Нужно верифицировать аккаунт через почту и подключить кошелек. Дроп ожидается в конце лета CITY HOLDER - это новая стратегия в Telegram, где нужно создать и развивать свои виртуальные города, одновременно зарабатывая игровые токены $CITY. HERE WALLET -  встроенный кошелек в Telegram, где можно добывать токены HOT. Накапливаем максимальное количество токенов до листинга. ZAVOD - приглашает вас погрузиться в мир производства и заработать поинты ZP. Подробные инструкции по участию доступны по ссылке TapSwap - В игре уже более 30 миллионов пользователей. TapSwap планирует выпустить токен $Taps. Листинг вначале июля.  ClydeTap - новое Tap-2-Earn приложение соединяющее в себе лучшее от Hamster + Notcoin MemeFi Coin - это увлекательный и простой кликер, в котором вы можете зарабатывать токены MEMEFI. Присоединиться можно по ссылке. PixelVerse - является улучшенной версией таких проектов, как Notcoin и Hamster, предлагая более разнообразный геймплей, включая PvP и систему античита. Планируется листинг на таких биржах, как Bybit, Gate, MEXC, KuCoin и OKX в июне. Yescoin - проект выходит с ранней стадии: реализован автобот, который каждые 12 часов автоматически собирает монеты. Опубликована дорожная карта.
    • В видеоролике, опубликованном в сентябре 2014 года исполнительным председателем MicroStrategy Майклом Сэйлором, Ассанж называет Биткойн «самой интересной интеллектуальной разработкой в Интернете» с момента создания сети в 2009 году. Спустя годы после этой речи такие страны, как Сальвадор, и такие компании, как Strike, начали использовать биткоин в качестве инструмента для отправки и получения дешевых и мгновенных денежных переводов по всему миру. Более того, биткоин и криптовалюта стали ведущими инструментами для финансирования глобальных гуманитарных движений.   Однако, по мнению Ассанжа, это даже не одно из основных преимуществ Биткойна. По его словам, одним из лучших качеств сети является ее способность «защищать себя или людей, которые ее используют, от всей мощи любой сверхдержавы». Биткойн нарушает изречение Оруэлла Действительно, биткоин неоднократно использовался как инструмент для обхода санкций, введенных национальными правительствами — к лучшему или к худшему. В 2022 году канадская колонна дальнобойщиков, протестующая против общенациональной вакцинации, обратилась к биткоину для сбора средств, когда традиционные платежные платформы, такие как GoFundMe, заблокировали пожертвования. Сам Ассанж обратился к криптовалюте в качестве источника финансирования после того, как его посадили в тюрьму в Великобритании, в том числе получив более 54 миллионов долларов в ETH через AssangeDAO .
    • За последние шесть дней майнеры биткойнов заработали менее 2 биткоинов на транзакциях Runes, что значительно меньше рекордного максимума в 884 биткоина, зафиксированного 24 апреля.   Среднесуточное количество транзакций Runes, нового стандарта токенов на блокчейне Bitcoin, упало более чем на 88% по сравнению с самым высоким показателем в этом месяце. По данным Dune Analytics от Crypto Koryo, среднесуточное количество транзакций Runes с 22 по 28 июня составило 37 820, что почти на 90% меньше среднесуточного показателя в 331 040, зафиксированного в период с 9 по 15 июня. В него входит 23 238 транзакций, совершенных 24 июня — самый низкий показатель с момента запуска протокола на четвертом халвинге биткоина 20 апреля. Ежедневные транзакции Runes с момента запуска протокола 20 апреля. Источник: Dune Analytics Транзакции с рунами составили лишь 4,9–11,1% всех транзакций с биткойнами за последнюю неделю. Резкое падение объемов транзакций в сети Runes оказало существенное влияние на комиссии майнеров Bitcoin которые все еще ощущают последствия последнего халвинга. За последние шесть дней подряд Runes принесла майнерам менее 2 биткоинов, что является огромным падением по сравнению с рекордными 884 биткоинами 24 апреля. Комиссии за биткоины берутся из Runes с 20 апреля. Источник: Dune Analytics Комиссия за регистрацию Ordinals и токенов BRC-20 за тот же период стала еще ниже. Первоначально эти протоколы рекламировались как новый источник дохода для майнеров биткойнов, которые ранее полагались на обычные одноранговые переводы биткойнов для получения сетевых комиссий. Комиссионным вознаграждениям за эти руны и ординалы удалось покрыть 50%-ное сокращение субсидий блоков в течение следующих нескольких дней после события, состоявшегося 20 апреля, — но с тех пор объемы торгов в основном были непредсказуемыми.   Runes, запущенный изобретателем Ordinals Кейси Родармо 20 апреля, позиционировался как более эффективный способ создания новых токенов в сети Bitcoin, чем стандарт токенов BRC-20 и альтернативные решения. Снижение сетевых комиссий и цены Биткойна привело к тому, что хэш-цена Биткойна — ключевой показатель для измерения доходов майнеров — упала почти до самого низкого уровня за всю историю. Между тем, резервы майнеров биткоинов 19 июня резко упали до 1,90 млн биткоинов, что является самым низким показателем в биткоин-выражении за последние 14 лет.
    • Dornaldo Tromp iz going to Mek Cryto gret Again wif hats and memez. $MEK token iz tha bezt meme wif hat of all memez.  Contract Address: SFMifvTzLTKtL1QXRt74Rmm4mbSsCNYPRfFGKHrQmQS For more information about Dornaldo Tromp, please visit:  • Website: https://dornaldotromp.com/  • Telegram: https://t.me/dornaldotromp  • Twitter: https://x.com/dornaldotromp/
    • Уважаемые клиенты!Добавлены новые направления Bitcoin Cash BCH - Рубль BinanceCoin BEP20 BNB - рубльВсе направления на нашем сервисе вы можете посмотреть в полном обьёме перейдя на наш сайт Oneclick24.io.Делайте обмен, оставляйте отзыв о нашей работе и получайте бонус на карту либо номер мобильного телефона.
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