How does the government of your country view cryptocurrencies?

[MrSpasybo 1049]

14 hours ago, Whited35 said:

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. 

@Whited35

I don't believe in VinDAX, it lists almost every coins/tokens, including a lot of tokens of scam projects. To me, token listing on VinDAX is of no use at all.
VNDC (https://vndc.io/) This is an emerging and popular ecosystem in Vietnam. It includes stable coin based on VND, wallet application, exchange, staking/farming system, Launchpad... My friends are using VNDC because it is quite easy and friendly, but they also want to transfer to Binance for low fees & more trading pairs.
The VNDC has not yet been officially accepted in Vietnam. And I think many other projects are like that, the Vietnamese government believes that we are not ready for a new trend, they are still silent at all our demands.

 

@khawar Abbas @kion @Abdulahad bashir ahmad @Mella

It would be good to live in a country that is open to crypto issues. We will be able to access new investment opportunities more easily and with higher returns than the stock market. The attitudes of governments depend heavily on the institutions, economics, and traditions of the country. Hope they will catch up with the crypto wave and change their perception of crypto.

 

 

[piuri01 446]

Hello mate, here in our country virtual currencies are not prohibited, the government accepts them, only that many people do not know them, and that is why they are hardly seen on the streets or in the markets, I hope that the people here start to know this type of trade, so that the commercial situation of our country can improve.

[Whited35 15285]

9 hours ago, MrSpasybo said:

VNDC (https://vndc.io/) This is an emerging and popular ecosystem in Vietnam. It includes stable coin based on VND, wallet application, exchange, staking/farming system, Launchpad... My friends are using VNDC because it is quite easy and friendly, but they also want to transfer to Binance for low fees & more trading pairs.

Thanks for the detail information about VNDC with the details. I might check it if the exchange allow users from outside the Vietnam. As being a neighbor of giant China, at least I am pretty much sure, your government will recognize the cryptocurrencies soon in the future. Emerging exchange and blockchain based projects are there, so how your government is treating to them ? Are there some sort of restrictions or anything else? It is really interesting to know more. 

[Pereira 2303]

The government of my country accepts them but they are not implemented very well, we are waiting that cryptocurrencies can be implemented much better and that the cryptographic future gradually grows accordingly.

[Dormilon 2183]

On 3/5/2021 at 12:56 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?

@MrSpasybo In my country cryptocurrencies have laws, but they are not prohibited, you can buy products in cryptocurrencies, even the government has its own currency called Petro (PTR) that does not appear in world markets, but is very centralized and is in centralized exchanges as well. If you are going to mine you must follow the rules and pay for electricity, as well as place your own energy resources that do not affect the community where you live, many people live from cryptos here in Venezuela.

[MrSpasybo 1049]

On 3/24/2021 at 10:25 PM, piuri01 said:

Hello mate, here in our country virtual currencies are not prohibited, the government accepts them, only that many people do not know them, and that is why they are hardly seen on the streets or in the markets, I hope that the people here start to know this type of trade, so that the commercial situation of our country can improve.

@piuri01@Pereira So in your country, can people own and use crypto easily? Do the stores accept crypto payments? And how much of a crypto income tax do you have to pay?

 

On 3/24/2021 at 10:42 PM, Samanthajhonz said:

The Financial Superintendence of Colombia, in an initiative to formalize exchanges and transactions with cryptocurrencies such as Bitcoin, will start an operations pilot in March with three large Colombian banks: Bancolombia, Banco de Bogotá and Davivienda. All the companies that are entering into this pilot have high expectations and reveal that transactions with virtual currencies in Colombia are quite a lot.

@Samanthajhonz Congratulations on the development of Colombia's crypto policy, I believe crypto will soon bring new power to the entire economy. Hopefully we will hear about Colombia's growth thanks to crypto soon.

15 hours ago, Whited35 said:

Thanks for the detail information about VNDC with the details. I might check it if the exchange allow users from outside the Vietnam. As being a neighbor of giant China, at least I am pretty much sure, your government will recognize the cryptocurrencies soon in the future. Emerging exchange and blockchain based projects are there, so how your government is treating to them ? Are there some sort of restrictions or anything else? It is really interesting to know more. 

@Whited35Yeah, Vietnam always copies the policies of China, and I believe that the Vietnamese government will draw a certain CBDC with the nature of digital money in the same bank account as ZaloPay, MoMo... It constantly praises e- CNY of China!!!
The crypto ecosystem in Vietnam is developing very slowly. We have very good people in the IT sector, many are developers for big crypto projects, especially statistically, the crypto community in Vietnam is the 2nd largest in the world. Some major Vietnamese crypto projects must be registered in foreign countries such as KyberNetwork, Tomochain, MidasProtocol.
The government has said it will accelerate the blockchain economy, but it have not made any notable moves.

[Ysha5 763]

My friends and I have been working in this field for several years and we have not had any problems with the state, so I do not think that there is any refusal by the state to work in these currencies.

[Whited35 15285]

7 hours ago, MrSpasybo said:

The crypto ecosystem in Vietnam is developing very slowly. We have very good people in the IT sector, many are developers for big crypto projects, especially statistically, the crypto community in Vietnam is the 2nd largest in the world. Some major Vietnamese crypto projects must be registered in foreign countries such as KyberNetwork, Tomochain, MidasProtocol.

Yes, I am closely monitoring the revolution in Vietnam in case of IT sector and trained manpower can still contribute the globally accepted decentralized projects. So here, no worries to take even your government is taking more time to recognize cryptocurrencies for the mainstream adoption trend. We scattered people have the possibilities to form a decentralized community driven projects and myself, I am seeking possibilities for that regards. So I expect you like valuable guys to stay tuned here. 

[Xantosis 426]

@Whited35 I think the government of each country need to adopt to cryptocurrencies because it make sense and also ease transaction between to business partners without much stress and that will also give citizens of every nation opportunity to be self reliant instead of depending on government for job.

[Pereira 2303]

17 hours ago, MrSpasybo said:

@piuri01@Pereira So in your country, can people own and use crypto easily? Do the stores accept crypto payments? And how much of a crypto income tax do you have to pay?

 

@Samanthajhonz Congratulations on the development of Colombia's crypto policy, I believe crypto will soon bring new power to the entire economy. Hopefully we will hear about Colombia's growth thanks to crypto soon.

@Whited35Yeah, Vietnam always copies the policies of China, and I believe that the Vietnamese government will draw a certain CBDC with the nature of digital money in the same bank account as ZaloPay, MoMo... It constantly praises e- CNY of China!!!
The crypto ecosystem in Vietnam is developing very slowly. We have very good people in the IT sector, many are developers for big crypto projects, especially statistically, the crypto community in Vietnam is the 2nd largest in the world. Some major Vietnamese crypto projects must be registered in foreign countries such as KyberNetwork, Tomochain, MidasProtocol.
The government has said it will accelerate the blockchain economy, but it have not made any notable moves.

@MrSpasyboI said it perfectly in my previous comment, it is accepted, but not very well used, certainly you can buy several things in stores with cryptocurrencies in my country, but you do not pay taxes for this, they have not yet implemented taxes through the cryptocurrencies, meanwhile you can buy and use it without having to pay taxes for this.

[MrSpasybo 1049]

23 hours ago, Dormilon said:

@MrSpasybo In my country cryptocurrencies have laws, but they are not prohibited, you can buy products in cryptocurrencies, even the government has its own currency called Petro (PTR) that does not appear in world markets, but is very centralized and is in centralized exchanges as well. If you are going to mine you must follow the rules and pay for electricity, as well as place your own energy resources that do not affect the community where you live, many people live from cryptos here in Venezuela.

@DormilonSo are you in Venezuela? I think this is the country where the majority of people have understood the value of crypto when the economy fell into crisis due to the economic manipulation policies of the president. Please share more about the views of everyone in Venezuela towards crypto, I am very curious.

 

15 hours ago, Whited35 said:

Yes, I am closely monitoring the revolution in Vietnam in case of IT sector and trained manpower can still contribute the globally accepted decentralized projects. So here, no worries to take even your government is taking more time to recognize cryptocurrencies for the mainstream adoption trend. We scattered people have the possibilities to form a decentralized community driven projects and myself, I am seeking possibilities for that regards. So I expect you like valuable guys to stay tuned here. 

@Whited35Yeah, we always keep an eye on the market's development because its profits are really attractive. I believe that in the future, when crypto is recognized as legal in Vietnam, we will have many useful crypto projects for world.

 

5 hours ago, Pereira said:

@MrSpasyboI said it perfectly in my previous comment, it is accepted, but not very well used, certainly you can buy several things in stores with cryptocurrencies in my country, but you do not pay taxes for this, they have not yet implemented taxes through the cryptocurrencies, meanwhile you can buy and use it without having to pay taxes for this.

@Pereira Do you think in the future, the government will impose a tax on crypto income?

[Dormilon 2183]

20 minutes ago, MrSpasybo said:

So are you in Venezuela? I think this is the country where the majority of people have understood the value of crypto when the economy fell into crisis due to the economic manipulation policies of the president. Please share more about the views of everyone in Venezuela towards crypto, I am very curious.

@MrSpasybo Here there is a giant economic crisis, we have had to resort to cryptocurrencies to try to save ourselves from suffering calamities, it is not easy, everything is very expensive and money does not reach, inflation is enormous and only crypto protects the money that one you can gather so that it does not devalue in an atrocious way, here cryptos are known by many people, although most do not use it, if there is a large amount that does, the government has its own currency, but buying it is double the price from which you can sell it, that is why its trade, which if it exists, does not transcend beyond a few users who play with it to obtain returns, among them, the government, in an economy devastated by bad policies and US intervention, As a country that seeks to drown people into doing what they want, crypto is the perfect rescue, greetings.

[MrSpasybo 1049]

11 minutes ago, Dormilon said:

@MrSpasybo Here there is a giant economic crisis, we have had to resort to cryptocurrencies to try to save ourselves from suffering calamities, it is not easy, everything is very expensive and money does not reach, inflation is enormous and only crypto protects the money that one you can gather so that it does not devalue in an atrocious way, here cryptos are known by many people, although most do not use it, if there is a large amount that does, the government has its own currency, but buying it is double the price from which you can sell it, that is why its trade, which if it exists, does not transcend beyond a few users who play with it to obtain returns, among them, the government, in an economy devastated by bad policies and US intervention, As a country that seeks to drown people into doing what they want, crypto is the perfect rescue, greetings.

@Dormilon We were quite surprised, because Venezuela was a rich country with abundant oil resources. Especially Venezuela is famous for the beauty of the world.
Perhaps the wrong economic policy has pushed the economy into crisis, the local currency devalues and the economy is forced to depend on USD & crypto. At least crypto can keep you out of inflation.
But what do you do to make goods, I mean you can't just mine Bitcoin to buy food, medicine, utensils...

Edited March 26, 2021 by MrSpasybo

[Pereira 2303]

1 minute ago, MrSpasybo said:

@DormilonSo are you in Venezuela? I think this is the country where the majority of people have understood the value of crypto when the economy fell into crisis due to the economic manipulation policies of the president. Please share more about the views of everyone in Venezuela towards crypto, I am very curious.

 

@Whited35Yeah, we always keep an eye on the market's development because its profits are really attractive. I believe that in the future, when crypto is recognized as legal in Vietnam, we will have many useful crypto projects for world.

 

@Pereira Do you think in the future, the government will impose a tax on crypto income?

@MrSpasyboI can think that if, soon it has slowly been radically coupled in the country's economy and together with it the regulation will come, the future of the country is based on taxes and of course that cryptocurrencies will have taxes, but for this we must take advantage before that.

[MrSpasybo 1049]

12 minutes ago, Pereira said:

@MrSpasyboI can think that if, soon it has slowly been radically coupled in the country's economy and together with it the regulation will come, the future of the country is based on taxes and of course that cryptocurrencies will have taxes, but for this we must take advantage before that.

@Pereira Hahaha, I think like you too, because if the government imposes too high taxes, we will lose all profits from the market. I also fear that the government will impose such high taxes that the crypto community cannot survive.
It will also be a way for the government to accept but will be able to curb cryptocurrencies.

[Dormilon 2183]

29 minutes ago, MrSpasybo said:

But what do you do to make goods, I mean you can't just mine Bitcoin to buy food, medicine, utensils.

@MrSpasybo There are people who extract bitcoin, but they are a small part, the equipment is very expensive for a person like me, although electricity is very cheap, mining is not easy due to the cost of the equipment and bringing it to the country also costs to pay a quantity of money that most do not have, it is complex, Venezuela is an oil rentier country, bad policies made oil production fall and when income fell the crisis appeared, there is enormous potential in other areas that are not exploited because corruption and mismanagement does not allow investments to reach those areas.

[Pereira 2303]

7 hours ago, MrSpasybo said:

@Pereira Hahaha, I think like you too, because if the government imposes too high taxes, we will lose all profits from the market. I also fear that the government will impose such high taxes that the crypto community cannot survive.
It will also be a way for the government to accept but will be able to curb cryptocurrencies.

@MrSpasybo It is not going to stop cryptocurrencies, they are going to stop people who do not have much trade and have to pay more than they can earn, I do not think that the taxes that are going to be placed are very high, since if they want to promote progress Crypto does not have to be a selective area, it will have to be public and higher earning to attract more people.

[betelihem 4766]

My government have no official rule about using cryptocurrencys, and still their are some peoples are sing it, but the government have no concern about it   because the citizens have little knowledge about bitcoin and cryptocurrencys.

[MrSpasybo 1049]

22 hours ago, Dormilon said:

@MrSpasybo There are people who extract bitcoin, but they are a small part, the equipment is very expensive for a person like me, although electricity is very cheap, mining is not easy due to the cost of the equipment and bringing it to the country also costs to pay a quantity of money that most do not have, it is complex, Venezuela is an oil rentier country, bad policies made oil production fall and when income fell the crisis appeared, there is enormous potential in other areas that are not exploited because corruption and mismanagement does not allow investments to reach those areas.

@DormilonReally regrettable for a country rich in resources like Venezuela, I hope that crypto will partly help life in your country be stable and soon find a new way to develop. Perhaps agriculture will be an area we can count on in hard times.

 

4 hours ago, Pereira said:

@MrSpasybo It is not going to stop cryptocurrencies, they are going to stop people who do not have much trade and have to pay more than they can earn, I do not think that the taxes that are going to be placed are very high, since if they want to promote progress Crypto does not have to be a selective area, it will have to be public and higher earning to attract more people.

@Pereira We cannot expect government to become fans of crypto, crypto threatens their power. They will find ways to limit it, even if they can accept it. Governments just want the benefits of blockchain.

 

3 hours ago, betelihem said:

My government have no official rule about using cryptocurrencys, and still their are some peoples are sing it, but the government have no concern about it   because the citizens have little knowledge about bitcoin and cryptocurrencys.

@betelihem Perhaps the crypto wave in your country is not strong enough to worry the government, or they are delaying the enactment of a crypto regulatory framework. A legal framework that will allow the public crypto community to function and flourish. More projects can come and register in your country.

 

2 hours ago, Asim786786 said:

There are many countries in this not allow and government not support because it is a very popular currency exchange cryptocrrunces. Cryptocrrunces is a my countries it is a good view and many people in this ues for the cryptocrrunces. I like this cryptocrrunces.

@Asim786786 Congratulations, your government has a very open view of crypto, we hope other governments can accept crypto like that as well. What benefits have you benefited from crypto?

[betelihem 4766]

10 hours ago, MrSpasybo said:

 Perhaps the crypto wave in your country is not strong enough to worry the government, or they are delaying the enactment of a crypto regulatory framework. A legal framework that will allow the public crypto community to function and flourish. More projects can come and register in your country.

Yeah that's true, since their is very very little amounts of cryptocurrency users, and the government didn't faced any problem with this, that's why the government didn't give more attention to it, maybe in the future the peoples may use it and get profit from it.

[Nonahassan 915]

You see that it affects the economy significantly, and they warn to deal with it. I hope that they will amend the matter a little so that many will not enter it.

[MrSpasybo 1049]

12 hours ago, betelihem said:

Yeah that's true, since their is very very little amounts of cryptocurrency users, and the government didn't faced any problem with this, that's why the government didn't give more attention to it, maybe in the future the peoples may use it and get profit from it.

@betelihem When there are many issues related to crypto (scams, ponzi projects, crypto-related money laundering...), the government must definitely consider crypto and issue a legal framework to suit it. At that time I thought crypto tax was necessary and we should accept it.

 

@NonahassanWe are still waiting for the legal framework so that the crypto community can legally exist and the police can easily handle the scams in the crypto sector.
However, many people still like the current situation, because they do not need to pay crypto tax.

[fanylu 505]

There are some countries that little by little the cryptocurrency is gaining the value and acceptance that the government deserves, I think they have realized that with this virtual currency they can solve their economic crises, they see it as a good future for the nation.

[MrSpasybo 1049]

20 hours ago, pkangalo said:

It's a surprise for me personally of some the countries or government of not accepting cryptocurrency which covers much advantages but my own country accept and work friendly in good terms with the cryptocurrency and they are benefitting from each other which everything is moving quite alright now presently.

@pkangalo @fanylu It would be good that when governments accept cryptocurrencies, people in those countries can enjoy the advantages of cryptocurrencies to use or invest. I hope that the tax on crypto income will not be too high, otherwise it will hurt the profits of holders/traders.

[MrSpasybo 1049]

29 minutes ago, lemark17 said:

Hello dear friend.  It does not have a cryptocurrency culture in my country.  And the government in my country imposes a ban on these currencies.  And prevent it from spreading or trading in it.  But when a country succeeds in creating a cryptocurrency and its economy succeeds in growing.  Then countries, including mine, are trying to work with these currencies because of the successful experiences of others.

 I wish my country to work in intangible currencies.

@lemark17 Yeah, sometimes some countries ban crypto because they cannot regulate/control it yet, they wait for other countries to experiment and have a complete legal framework to learn and apply in their country.
I believe that the EU & USD will be the pioneers in accepting cryptocurrencies for other countries to learn.