Topic: After China, Now it's Mexico's Turn to Ban Crypto (Read 987 times)
This is not the first time china ban crypto, and I think there is a conspiracy regarding this lifting and banning cryptocurrency, more often this happens mostly between or after January to June and after those months they will again lift the ban, which is like a cycle for them, china is making money by doing those things, and it affects the whole world, so I'm not surprised by that, for Mexico they maybe thought that it's being used for illegal activities, and other things, but this bans will not last long for sure.
After the Chinese government banned the use of cryptocurrencies a few weeks ago, the Mexican government is now banning the use of cryptocurrencies in the financial system.
https://www.coindesk.com/mexicos-treasury-secretary-confirms-cryptos-are-banned-from-financial-system
Will the ban have a negative impact on the future of crypto? there are already several countries that prohibit the use of cryptocurrencies.
When we take into account the big picture it does not really matter, Mexico is not really a country that has a lot of miners, users or exchanges but this show us who they are as a government, the fact they are following the same steps as the ones that are being taken at China should be more than enough to tell us the kind of government that is in power, they want to achieve the same thing which is complete control of the economy, but bitcoin will never allow this.https://www.coindesk.com/mexicos-treasury-secretary-confirms-cryptos-are-banned-from-financial-system
Will the ban have a negative impact on the future of crypto? there are already several countries that prohibit the use of cryptocurrencies.
if they would continue on banning it from here or there it wont really matter as the demand wont really be stopped and this is the bloodflow on where this economy would
really continue to live out on future years to come.There might be some effects but doesnt mean that it would die out completely.
Bitcoin would stay and no matter how government would do all sorts of things like banning and prohibiting everything but they would still fail.
In my opinion, Mexico banning Crypto will not negatively affect the future of crypto. a lot of negative information that was built especially by the rich in mexico who only to manipulate the market for his personal gain. Therefore, it does not have any impact on the prohibition of cryptocurrencies in Mexico, in fact the crypto market continues to experience a Bull Run.
Mexico has not proposed any new regulation to limit the ownership or trading of cryptocurrencies. One of the billionaires organized a press conference a few days back and claimed that his bank will start accepting Bitcoin. The central bank came up with a clarification that the bank mentioned here is not allowed to do so, as it is against the existing banking regulations. It is clear that the government hasn't introduced any new law against cryptocurrency. Obviously for the clickbait driven posters here, they are very talentful to convert such irrelevant stories to catchy titles.
Im not sure that Mexico has a lot of hash power for big impact from this decision
In my opinion, Mexico banning Crypto will not negatively affect the future of crypto. a lot of negative information that was built especially by the rich in mexico who only to manipulate the market for his personal gain. Therefore, it does not have any impact on the prohibition of cryptocurrencies in Mexico, in fact the crypto market continues to experience a Bull Run.
already seen so far, even moments after this news in the market publication experienced a pump yesterday. there is no big impact from this news.I even think that in the future, countries that carry out crypto prohibition regulations in their countries may adopt crypto developments in their home markets. it will obviously be later than a country that accepts crypto well. the development of the blockchain and the crypto market will be huge in the future. we are waiting for that moment.
In my opinion, Mexico banning Crypto will not negatively affect the future of crypto. a lot of negative information that was built especially by the rich in mexico who only to manipulate the market for his personal gain. Therefore, it does not have any impact on the prohibition of cryptocurrencies in Mexico, in fact the crypto market continues to experience a Bull Run.
After the Chinese government banned the use of cryptocurrencies a few weeks ago, the Mexican government is now banning the use of cryptocurrencies in the financial system.
https://www.coindesk.com/mexicos-treasury-secretary-confirms-cryptos-are-banned-from-financial-system
Will the ban have a negative impact on the future of crypto? there are already several countries that prohibit the use of cryptocurrencies.
When we take into account the big picture it does not really matter, Mexico is not really a country that has a lot of miners, users or exchanges but this show us who they are as a government, the fact they are following the same steps as the ones that are being taken at China should be more than enough to tell us the kind of government that is in power, they want to achieve the same thing which is complete control of the economy, but bitcoin will never allow this. https://www.coindesk.com/mexicos-treasury-secretary-confirms-cryptos-are-banned-from-financial-system
Will the ban have a negative impact on the future of crypto? there are already several countries that prohibit the use of cryptocurrencies.
This news will not have a significant impact on bitcoin price movements. Because there are not too many miners and crypto users in the country. Especially as long as there are VPNs, people should be free to trade crypto lol
After the Chinese government banned the use of cryptocurrencies a few weeks ago, the Mexican government is now banning the use of cryptocurrencies in the financial system.
https://www.coindesk.com/mexicos-treasury-secretary-confirms-cryptos-are-banned-from-financial-system
Will the ban have a negative impact on the future of crypto? there are already several countries that prohibit the use of cryptocurrencies.
https://www.coindesk.com/mexicos-treasury-secretary-confirms-cryptos-are-banned-from-financial-system
Will the ban have a negative impact on the future of crypto? there are already several countries that prohibit the use of cryptocurrencies.
I agree with many opinions here that mexico is a country where the number of crypto transactions is very small, although this is certainly bad news that can make investors panic and immediately sell bitcoins.
This is bad news for crypto, we would always want a global adoption but with the news that there are some countries who already started to ban crypto, then it would not help to achieve a stable future. Bitcoin will still exist despite bad news but the volatility will remain as there the bigger adoption that we dream will not likely happen due to regulatory hindrance.
I'm getting bored, why the hell same thing happens every time when market start growing. I'm expecting good days for cryptocurrency market are waiting. No matter what, crypto market moving forward and replace back dated decisions made by different government.
It's usually the case that when crypto is the talk of the town, regulators and governments start cracking down on crypto. You rarely read such actions in bear markets, but always in bull markets. It's a striking pattern if you look at the last five to six years.
the more FUD circulating in my opinion this becomes a test for bitcoin and other cryptocurrencies, look at the incident when last 2018, many coin prices collapsed, of course that happened because of the large number of FUDs circulating like this and a few months later the price soared again so in my opinion Moments like this should be used wisely.
Bitcoin has always proven itself in the most dire of moments. Let us remember about Mt Gox and then about the civil war supposedly going to destroy Bitcoin in 2017.
What happened next in both those times is not merely Bitcoin surviving, but pushing up stronger to new heights and not looking back.
This is what's so scary about Bitcoin, it LOVES FUD.
Currently the crypto world is hitting negative news so that the value of bitcoin and altcoin continues to decline, after China banned the mining of the crypto world and now Mexico is also doing so then this continues to adversely affect the value of bitcoin, although Mexico is not a developed country but it also affects other countries that will follow Mexico, but rest assured the crypto world has stood firmly and developments will continue.
Mexico has no power like CHina . When mexico fud release its have no impact at all, at this moment cryptocurrency market centralized in China. every negative news from this countries will directly shake the market, but the good thing was miners start distributed to several countries and not centralized again in CHina. So it will bring the balance to crypto market, for long term it be good fundamental. The Panama government behavior will not affect Bitcoin much. After all, Panama is a small country. This is just a government action. At present, the mainstream cryptocurrency market is in the United States, and many institutions and wealthy people have invested in cryptocurrency. I believe the market will get better and better in the future.
Panama? What are you even talking about man? This thread is about Mexico!
By the way: https://www.coindesk.com/panama-to-present-crypto-related-bill-in-july
In that article you can read how Panama also is seeking to establish Bitcoin as legal tender.
there are so many countries in this world and I think it won't affect the crypto world so much. I mean, of course, it can affect the price movement at that time but rest assured cryptocurrency will be strong enough to mend all of that. Let's take the China case, for example, within these years, China already done some banning to the crypto world, every time they did that the price was affected, but not permanent. Finally, in 2021 they banned crypto wholly. Thou' we haven't seen any significant recovery now, but I believe it'll recover eventually. Why? because crypto is decentralized. There is no single country in this world that can't stop a p2p. There's always a way when there's a will. So, chill and use your seatbelt. It's gonna be rough but we can through it.
After the Chinese government banned the use of cryptocurrencies a few weeks ago, the Mexican government is now banning the use of cryptocurrencies in the financial system.
https://www.coindesk.com/mexicos-treasury-secretary-confirms-cryptos-are-banned-from-financial-system
Will the ban have a negative impact on the future of crypto? there are already several countries that prohibit the use of cryptocurrencies.
Mexico does not count in terms of market moving than what China can , Every Negative news that china will create will surely shake the market but what about this mexico banning the use of cryptocurrency ? if its not from you we will never heard about this lol.https://www.coindesk.com/mexicos-treasury-secretary-confirms-cryptos-are-banned-from-financial-system
Will the ban have a negative impact on the future of crypto? there are already several countries that prohibit the use of cryptocurrencies.
this means only one thing , That Mexico will never take effect no matter what they stand for crypto not like big countries like US or China that will surely make difference.
the more FUD circulating in my opinion this becomes a test for bitcoin and other cryptocurrencies, look at the incident when last 2018, many coin prices collapsed, of course that happened because of the large number of FUDs circulating like this and a few months later the price soared again so in my opinion Moments like this should be used wisely.
The prices collapsed in 2018 not because of the FUD, but because of the scams in ICO sector. There is no point in not taking the responsibility for what happened in 2018. The signs were pretty obvious back then, as some of the shitcoins like TRX had accumulated market caps of tens of billions of USD. Actually, I can see the same happening now with Dogecoin managing to cross the $50 billion market cap (something that alts like TRX failed to achieve in 2018). When the market crashes, almost always it is the alts that are responsible.
That is not entirely correct. Bitcoin as far as I can recall (too lazy to look it up) dropped from around $20k to around $3k. The shit coins just got wiped out entirely in terms of market cap, which is a good thing to happen.
I agree with you though that the FUD had nothing to do with it. We see that today as well that bad news (or whatever you want to call them) don't really do that much to Bitcoin. Bitcoin has become quite resilient for a while now against all types of information trying to attack it.
What I also fully agree with is that a couple of things exactly feel like 2018 with one being that as you said a coin like Dogecoin can go beyond $50 billion. We will find out where this ends I guess.
the more FUD circulating in my opinion this becomes a test for bitcoin and other cryptocurrencies, look at the incident when last 2018, many coin prices collapsed, of course that happened because of the large number of FUDs circulating like this and a few months later the price soared again so in my opinion Moments like this should be used wisely.
The prices collapsed in 2018 not because of the FUD, but because of the scams in ICO sector. There is no point in not taking the responsibility for what happened in 2018. The signs were pretty obvious back then, as some of the shitcoins like TRX had accumulated market caps of tens of billions of USD. Actually, I can see the same happening now with Dogecoin managing to cross the $50 billion market cap (something that alts like TRX failed to achieve in 2018). When the market crashes, almost always it is the alts that are responsible.
it's commonplace fud drama the Chinese government keeps trying to do that already happened last year which made the market enter the bears market the longest it made the price of bitcoin fall for a very long time making almost everyone frustrated it's very severe it's very likely that other countries will also follow because china is very influential on the price bitcoin and the market is in a bad state so that everything is going down it could be that other countries are also doing the ban for bitcoin in a large and influential country in the near future.
The Panama government behavior will not affect Bitcoin much. After all, Panama is a small country. This is just a government action. At present, the mainstream cryptocurrency market is in the United States, and many institutions and wealthy people have invested in cryptocurrency. I believe the market will get better and better in the future.
Jump to: