Maybe, but not too much. I have followed up with countries where Bitcoin and cryptocurrencies were banned and I noticed that people never stopped using Bitcoin and other cryptocurrencies in these countries, rather the usage even increased and the community got even more stronger. So, banning crypto is not enough to put an end to it, it doesn’t stop people from making use of it, they are still going to continue using it after it has been banned.
I believe that in Mexico now there are still people who are not ready to give up on crypto, they are still continue with it. There are P2P exchanges, so they can continue their trading with that and they wouldn’t have to face any problem at all as long they are being very careful with it.
Topic: After China, Now it's Mexico's Turn to Ban Crypto - page 4. (Read 1066 times)
Mexico is not like China, bitcoin is not used much and interest is much in mexico.This bad news can't affect crypto, including China's ban bitcoin. The market dropped severely, but then will recover.
This bad news already affected the cryptocurrency and didn't you see that about what happened with the price of bitcoin recently? it was going down due to this news and that means it doesn't matter how big the country and bad news will always give the pressure to the bitcoin and crypto. The dumpers will be using it as a way to dump the crypto market. It may recover but bad news was preventing bitcoin to recover its price even higher than before
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.
You are missing a point here, there was a ban for Bitcoin in China for years and they did not ban them recently as a payment system, if the Mexican government wants to ban the use of cryptocurrencies, either the people has to protest against them and challenge them in court or there are other ways to trade them.Will the ban have a negative impact on the future of crypto? there are already several countries that prohibit the use of cryptocurrencies.
I do not think a ban from the Mexican government will have any major impact in the market. I am expecting many countries to come up with rules and regulations and banning them altogether will backfire . Any country that bans Bitcoin or cryptocurrency can be making some news, especially in our industry. I would not agree that we should be belittling Mexico as this is certainly still a country with millions of people which can possibly be market for cryptocurrency but at the same time let's not be afraid if ever Mexico will really be banning Bitcoin. I am hoping though that there will be clarifications in the coming days on the nature and extent of this supposed ban. Let's wait for clear and concise details of what does this mean as far as Mexico is concerned.
It wouldn't have a negative impact on the future of crypto alone, we will right away feel how detrimental it will be if ever Mexican governments continues on banning crypto.
If it causes domino effects, it will be bad for crypto. I doubt that there is any domino effect from Mexico ban.Quote
Although such sudden events happens, there are also some good news that counters the banning of many countries since many countries are also starting regulate the use of crypto such as Germany and El Salvador. On El Salvador, crypto enthusiasts are encouraged to move to their country and will gain free citizenship as they continue to pursue their investment on crypto while in Germany, it is starting to get regulated on sales and soon we'll see it on other stuffs too for sure.
Mexico and El Salvador are not biggest nations for cryptocurrency adoption or Bitcoin mining. And now we don't know what is ending of their efforts to make Bitcoin legal tender. They can succeed or fail. Even they succeed, and other nations look at them, want to achieve what Mexico or El Salvador has, there will be localized troubles for each nation.Legal tender will be a very far future.
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.
It wouldn't have a negative impact on the future of crypto alone, we will right away feel how detrimental it will be if ever Mexican governments continues on banning crypto. Although such sudden events happens, there are also some good news that counters the banning of many countries since many countries are also starting regulate the use of crypto such as Germany and El Salvador. On El Salvador, crypto enthusiasts are encouraged to move to their country and will gain free citizenship as they continue to pursue their investment on crypto while in Germany, it is starting to get regulated on sales and soon we'll see it on other stuffs too for sure. 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.
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.
There are other country just don't understand the good benefits of the Bitcoin and cryptocurrency. But since they banned
cryptocurrency there is no impact also to affect the market we have it now too. Besides, as far as I know Mexico is one of the poorest
nation in the whole world now.
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First China and now Mexico. Now there is a question.
Who's next??
Bitcoin will stay even though there are some countries who will ban it. China?? Mexico?? What country will be next US?? or India?? or Canada?? Does it matter?? Bitcoin is being used worldwide and there are only few countries who are banning it. One thing more is that even though there are countries who are banning it, there are some people who are still involving themselves thru it by using VPN's.
With regards to the effect of this news, knowing that its coming from a popular news article website it might have an impact short term but on the other hand it might not have any effect at all. Well, if the market reacts negatively to it then another buying opportunity
.
Who's next??
Bitcoin will stay even though there are some countries who will ban it. China?? Mexico?? What country will be next US?? or India?? or Canada?? Does it matter?? Bitcoin is being used worldwide and there are only few countries who are banning it. One thing more is that even though there are countries who are banning it, there are some people who are still involving themselves thru it by using VPN's.
With regards to the effect of this news, knowing that its coming from a popular news article website it might have an impact short term but on the other hand it might not have any effect at all. Well, if the market reacts negatively to it then another buying opportunity
. 
..Will the ban have a negative impact on the future of crypto? there are already several countries that prohibit the use of cryptocurrencies.
Such bans negatively affect the overall state of the cryptocurrency market, limiting the number of people who could actually use cryptocurrency. But at the same time, it shows the inability of the state to compete with a decentralized cryptocurrency in everyday life without a legislative ban on its use.
This shouldn't sound so panicking to world if Mexico try's to ban cryptocurrency. okay let talk about China what is; has it make the Bitcoin price to drop?
NO!
So a poor nation shouldn't be a threat to cryptocurrency Globally.
NO!
So a poor nation shouldn't be a threat to cryptocurrency Globally.
Is China really banning crypto? Or is it not much more the case that China wants to curb mining for environmental reasons?
I think China has understood that they cannot ban the use of cryptocurrencies. They already tried to do that in 2017/18 without success. Now they're going after the miners. But I would see it as a total ban of crypto currencies.
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.
Now after a day it is safe to say that the news about Mexicos ban of cryptos from the financial systems did not have any negative impact on the price as they are holding quite ok and i don't see any movements aside from the normal market fluctuations. I kinda have the feeling that such news don't have that big of an impact anymore like 2 or 3 years ago. I mean the news of chinas crypto ban and the shutdown of mining farms had some impact but that is a exception because china has highest population of all the countries on earth (soon it will be India though) and a lot of the big mining farms are located in china.
Mexico is not like China, bitcoin is not used much and interest is much in mexico.This bad news can't affect crypto, including China's ban bitcoin. The market dropped severely, but then will recover.
Yes, even if Mexico bans crypto after china it will not have any effect no country that is completely decentralized in crypto can control it. Its value has declined somewhat as demand has declined however it is expected to increase again this year. 
Only China has influence on crypto (happened some time ago) but the storm was short and crypto slowly recovered, while other countries in my opinion will not affect crypto, especially Mexico which is poor country
crypto can thrive without countries that prohibit crypto
crypto can thrive without countries that prohibit crypto
It's always have something to do with anti money laundering or anything related to that meanwhile KYC and AML have long making it difficult for people to launder money
, laundering money in crypto isn't as easy as just sending it, it's even harder to hide trace than paper money and I assume if they ban crypto just because of money laundering reason
they really don't have idea what crypto is, but the again it's not like the whole market gonna go down just because mexico.
, laundering money in crypto isn't as easy as just sending it, it's even harder to hide trace than paper money and I assume if they ban crypto just because of money laundering reason
they really don't have idea what crypto is, but the again it's not like the whole market gonna go down just because mexico.
We would worry a little if top 10 major countries actually impacting the bitcoin starts banning it. The whole point here is simple, as long as the bitcoin market cap keep pushing upwards with all the wealthy riches and surely those 1% rich, we don't have to worry about the government and their bans. Frankly speaking government is supported by these billionaires through their election campaigns and I would like to believe that most of them make the decisions in the crypto world There are cream layers, bun layer and base layer. The above two are really the one's who are just earning some money, putting their savings into bitcoin in the hope of doubling it and etc etc, The main stuff is at base layer, it's as hard as rock and will never fall after few countries ban it. Not Mexico for sure.
I understand that Mexico will make its move to ban the use of crypto because there are a lot of illegal activities on them and it possible to grow more if Bitcoin becomes legal. Because people had used this to hide what they are doing, and that even harder for the authorities to track them. For me, if this only coz the chaos, I have to ban crypto as well.
But what happened to China is a different situation, it is more in personal interest.
if the conditions were like that, then that was probably the best thing. But, if conditions permit, I hope Mexico will retract the rule again. although it doesn't have a big impact for now, but I think it is quite limiting the movement of bitcoin users. well, hope in the future things will return to normal. But what happened to China is a different situation, it is more in personal interest.
This shouldn't sound so panicking to world if Mexico try's to ban cryptocurrency. okay let talk about China what is; has it make the Bitcoin price to drop?
NO!
So a poor nation shouldn't be a threat to cryptocurrency Globally.
NO!
So a poor nation shouldn't be a threat to cryptocurrency Globally.
Mexico is not like China, bitcoin is not used much and interest is much in mexico.This bad news can't affect crypto, including China's ban bitcoin. The market dropped severely, but then will recover.
with the several countries banning crypto does not mean the future of crypto is disrupted, I think the future of crypto will even be brighter because we know that many countries support the crypto world and that is good for the future of crypto. I've read that there are some negative news about crypto and I think crypto is still doing well and getting brighter. so don't care about countries that do ban crypto because until now crypto is still a good thing. the most important thing is not to be easily influenced by negative news about crypto that makes us panic and panic sell, because it will causing losses
Yes, every news about the ban and other restrictions will give a certain influence on the crypto market. However, it will be different in how big the influence is.
And as some other members here said, Mexico is not a big country with big involvement in crypto, so it may not give a big impact on the crypto market. Except that this action is also followed by other countries who going to ban or dislike cryptocurrency. It may be a starting point of another FUD again.
But, be calm and never triggered by this bad news. Always focus on the crypto market and stay calm with the FUD because it will never end.
And as some other members here said, Mexico is not a big country with big involvement in crypto, so it may not give a big impact on the crypto market. Except that this action is also followed by other countries who going to ban or dislike cryptocurrency. It may be a starting point of another FUD again.
But, be calm and never triggered by this bad news. Always focus on the crypto market and stay calm with the FUD because it will never end.
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