World Government and Crypto Restrictions

[MalikAdnan 1662]

Yes there is no doubt. The value of cryptocurrency everyone know. It is the revolution in the crypto world. World governments are afraid because they don't ready to use crypto they support their fiat currency. It is no doubt government think crypto affected their currency rate. Because peoples move to the crypto but there are some countries govt. Ready to use crypto.

[Mansoor sumaan 29 0]

Crypto is like an evolution in the world . It is trying to change the point of view and thinking of the world. It has bring a lot of development in this world. It is trying to make this world like a digital world. The countries which are banning the cryptocurrency are mostly developed countries and they don't know its importance.

[Michaelx018 0]

I think the whole domain of cryptocurrency something which the world governments and institutions cannot control completely because the nature of the currency something which is completely dependent on the peer-to-peer nature of it. As such when the government starts imposing restrictions it it will cause bad effects to the currency .

 

Edited November 27, 2020 by Michaelx018

[VijithaVarghese 1994]

Great post my friend. What I really think is that more it gets normalised it would be more open to scams and people would take advantage of it. This can lead to the fact that the people's usage can make it centralised.Some restrictions are good for privacy.

[Russel 017 506]

I think most of the countries have imposed restriction against bitcoin because they are aware of it’s use cases and they want the people to careful about it.

[scofield64 943]

Most Government of the world are really afraid of cryptocurrency because it's has no regulations meaning nobody controls it's. It's can also be use in illegal ways by criminal. You 

[Mubarak Salihu Ahmed 1350]

Alot of government around the world are restricting crypto currencies because they fear it increasing demand and rise could lead to money laundering and fraud.many country only adopt stock than forex trading.they see cryptocurrencies as decentralized currency and a treat to local currency.any adoption of digital currency would lead to financial autonomy and many countries opposed to it.

[RonaldB 48]

Yes, many of the world's governments are fighting cryptocurrencies, especially Bitcoin, because they believe that their local currencies and their economic system are in danger of being decentralized and not subject to any party and it is difficult to control them.

[Amiami 1362]

I really don't believe that there is a world government that handles all the strings behind each person, from my point of view there are only interests of people with a lot of money who could earn more with the legalization of cryptocurrencies.

 

Since we can see how successful people support bitcoin, among those people we can find Elon Musk, Bill Gates, the South Korean or Japanese minister.

 

In addition, cryptocurrency regulations are becoming increasingly light, which allows the operations of companies or organizations to be carried out faster.

[Smallingcane012 344]

Yes for about a years government have been imposes restrictions of movement in the all the country due to covid 19 pandemic.

[Nicole018 4548]

It is true that the government imposing restrictions would have a positive impact in the use of cryptocurrencies. the current value of Bitcoin itself is a great example for this. It is estimated that by the end of this year the value of Bitcoins would reach its all time high. so many users worldwide are well aware of the future possibilities of using cryptocurrencies which make it an ideal form of  transfer.

[Smallingcane012 344]

The reason government is restricted the movement i think that due to corona virus that overcome in whole world.

[mzk7736 1592]

I think the major concern for the government is anonymous transaction that can be performed using cryptocurrency. There should be a mechanism in exchange to provide the information of the transactions to the governmentby tracing the IP addresses of the people. This will remove the reservations of the government regarding cryptocurrencies.

[Amna Hareem 1213]

On 1/19/2020 at 9:07 PM, Oluwaseun said:

For the time being, the government of the world are placing lots of restrictions on the success of the Crypto Technology. This is because its value is really shooting day by day and there is no way to control this very beautiful technology. This is the reason why most of them are afraid. Because they think this asset will be better than their local currency.

Yes you are right government is afraid from crypto and in many countries it's banned and there are many restrictions on it and many countries are also accepted it and their peoples are getting benefit from it and in some countries people are paying their bills through crptocurrency but some countries are not accepting it and baking in third countries. I think all countries should accept it and then the people can get benefit from it.

[M.bello 1015]

Hello everyone I think basically on my own opinion if any given country could allow cryptocurrency it going to help that country economic most especially during this pandamic where each and everyone will still earn money for their daily basic, any government that allow cryptocurrency to his country could make huge impact to that country economy

[Samotokika 1780]

On 1/19/2020 at 9:07 PM, Oluwaseun said:

For the time being, the government of the world are placing lots of restrictions on the success of the Crypto Technology. This is because its value is really shooting day by day and there is no way to control this very beautiful technology. This is the reason why most of them are afraid. Because they think this asset will be better than their local currency.

To some extent the government was afraid of the success of the crypto technology because it is progressing day by day but I think there is also the reason is that it is virtual currency and has some risks amd security issues so that's why govt impose rules on it

[Frodler 943]

We are moving towards that time that most countries government would want to personalize its own kind of cryptocurrencies but the decentralised nature will not allow for control from a central entity and these would be a major discouragement to them. 

Edited December 14, 2020 by Frodler

[Froshk 1828]

Restrictions are one of the only ways that the government uses to tackle he spread of cryptocurrencies, and sometimes these restrictions are generally to avoid schemes and projects that are capable of defrauding people of their money. 

[Pranto1 40]

Yes you are in it, many countries think that cryptocurrency will replace their fiat currency.Most governments around the world have restricted or even banned the use of cryptocurrencies as a means of payment.The government needs to control money laundering. This is also important because of the criminal activities in many places.

Good luck

[Serbberq 724]

Many country around the world put restrictions or fail to adopt using cryptocurrency because it can make their local currency lose it meaning because cryptocurrency is growing and the price will bring more profits than using local currency. 

[The shiekh 793]

Well it's a very good thing that the crypto community and the countries are dealing with each other's. Because in this deal both have benefits. And the government will improve his economy through applying taxes on these currencies. Thanks for the topic.

[abdullah553 1981]

On 1/19/2020 at 6:07 PM, Oluwaseun said:

For the time being, the government of the world are placing lots of restrictions on the success of the Crypto Technology. This is because its value is really shooting day by day and there is no way to control this very beautiful technology. This is the reason why most of them are afraid. Because they think this asset will be better than their local currency.

Yes, indeed, there are many governments that have tried to fight cryptocurrencies, but without interest, because this will make them lose financial control over their assets, and today it has become more able to expand.

[DreamStage 2105]

Well governments are afraid of crypto simply because there are too many illegal activites going on right now that nobody is able to track at.

 

Things like buying illegal weapons, drugs or even doing bad things at dark web is what keeps such countries having legalized supported cryptocurrencies services.

 

And yes that comes with price rise as it gets bigger, more bad people are willing to use it for wrong things.

[abd1992 960]

On 1/19/2020 at 6:07 PM, Oluwaseun said:

For the time being, the government of the world are placing lots of restrictions on the success of the Crypto Technology. This is because its value is really shooting day by day and there is no way to control this very beautiful technology. This is the reason why most of them are afraid. Because they think this asset will be better than their local currency.

Yes, indeed, there are many countries that have fought Bitcoin, but Bitcoin has spread more today. Countries are trying to exploit the situation to their advantage.

[Abdul1168782 572]

Yes you are right and now many countries are now thinking about the removing ban from crypto currencies. And they have started debating on that topic. And they are almost ready to use this currancy. And this will be amazing experience for all.