They will likely try, but thinking a few steps ahead, how would they possibly enforce that?
Americans with large bitcoin holdings would keep their bitcoin in overseas wallets and exchanges. Then, at that point, what you report is essentially on the 'honor system.' Good luck with that.
Topic: Any chance for USA to ban bitcoin? - page 4. (Read 593 times)
Every country are starting to ban. What if USA ban? how will it go?
It is unlikely that United States will ban bitcoin or other cryptocurrencies. The US Commodity Futures Trading Commission has already classified bitcoin as a commodity and is taxed by Internal Revenue Service as a property.
Although it is been under attack by some large US banks particularly the Bank of America for being a threat to their business, there is no way they can totally enforce a ban in the use of bitcoin. Cryptocurrency is a great idea for earning a profit and you can't stop an idea whose has time come.
Every country are starting to ban. What if USA ban? how will it go?
You start the thread like the FUDers. Many countries now accept bitcoin and blockchain vast adoption such as Estonia, Sing, Korea, Japan, Aussie...With USA i don't see any points that they will ban bitcoin as a member of SEC said no bitcoin no blockchain.
That's only some country banned it not mean all other will follow
It's simple logic. Who is bitcoin a threat to? It's a threat to the current establishment: the major banking and credit card companies, many of which are American companies with huge political clout. Politicians typically don't look to the greater good when their pockets are being lined by big banking, Visa, Mastercard, etc.
Well, it's not about any particular country but since Bitcoin is based on technology which relies on the power of decentralization it is something that takes away power from the traditional controlling authorities and hence they will definitely try to put maximum impositions on the same. However, as we all know governments cannot stop anyone from using Bitcoin but they can put a ban in a sense that converting Bitcoin to fiat currency and vice versa.
At this point, I do see governments are in the wait and watch mode and they are still in the process of doing research and framing the rules and regulations for the same. Considering the current political situation in the USA I am not expecting any surprising news from the government in the sector (however I am keeping the eye on other sectors closely suggest foreign policy).
At this point, I do see governments are in the wait and watch mode and they are still in the process of doing research and framing the rules and regulations for the same. Considering the current political situation in the USA I am not expecting any surprising news from the government in the sector (however I am keeping the eye on other sectors closely suggest foreign policy).
Every country are starting to ban. What if USA ban? how will it go?
If USA will ban now,i thinks there will be a panic selling of all bitcoin in the cryto market and maybe all bitcoiners will be affected if that situation happen,thats why some of ICO now in the USA have an kyc,maybe this is happen now is the reason why they become so strict in terms of developing a new platform project.actually there is no chance that bitcoin will be ban in the USA because mostly of the big player i thinks is coming from the USA.
The present status of the BTC industry in the U.S of A, is better compared to many Countries who are into BTC. If one would try and notice how many Americans are engaged with the cryptocurrency industry, that person would be made aware that, some of the top and many people who are infamous and influential in the cryptocurrency domain are actually Americans, along with this infamy of cryptocurrencies in the U.S of A in relation to personalities, many of the bounty campaigns, and social platforms bounty campaigns, well the owners of these companies are Americans, and are not the only campaigns that were created by Americans. It is the fact that when a person is engaged with such activities or such campaigns, it is very probable that, whoever that person is, would earn something for engaging in such activities, and most Americans do these activities. So aside from the many other reasons, the ones that are stated in the latter, would be more than sufficient, to give one the idea that banning the BTC in the U.S of A has a slim possibility. Not unless something negative would result from it, but at the moment, it is a strong economic alternative in U.S of A.
That is what i have observed too, many of the cryptocurrencies are made by americans. So it is very hard for USA to ban cryptocurrency because these is the most effecient way fir their citizens to earn. Just like bitcoin originated in the USA, there are also lots of promising coins that came from the same nation.
The present status of the BTC industry in the U.S of A, is better compared to many Countries who are into BTC. If one would try and notice how many Americans are engaged with the cryptocurrency industry, that person would be made aware that, some of the top and many people who are infamous and influential in the cryptocurrency domain are actually Americans, along with this infamy of cryptocurrencies in the U.S of A in relation to personalities, many of the bounty campaigns, and social platforms bounty campaigns, well the owners of these companies are Americans, and are not the only campaigns that were created by Americans. It is the fact that when a person is engaged with such activities or such campaigns, it is very probable that, whoever that person is, would earn something for engaging in such activities, and most Americans do these activities. So aside from the many other reasons, the ones that are stated in the latter, would be more than sufficient, to give one the idea that banning the BTC in the U.S of A has a slim possibility. Not unless something negative would result from it, but at the moment, it is a strong economic alternative in U.S of A.
That is what i have observed too, many of the cryptocurrencies are made by americans. So it is very hard for USA to ban cryptocurrency because these is the most effecient way fir their citizens to earn. Just like bitcoin originated in the USA, there are also lots of promising coins that came from the same nation.
The present status of the BTC industry in the U.S of A, is better compared to many Countries who are into BTC. If one would try and notice how many Americans are engaged with the cryptocurrency industry, that person would be made aware that, some of the top and many people who are infamous and influential in the cryptocurrency domain are actually Americans, along with this infamy of cryptocurrencies in the U.S of A in relation to personalities, many of the bounty campaigns, and social platforms bounty campaigns, well the owners of these companies are Americans, and are not the only campaigns that were created by Americans. It is the fact that when a person is engaged with such activities or such campaigns, it is very probable that, whoever that person is, would earn something for engaging in such activities, and most Americans do these activities. So aside from the many other reasons, the ones that are stated in the latter, would be more than sufficient, to give one the idea that banning the BTC in the U.S of A has a slim possibility. Not unless something negative would result from it, but at the moment, it is a strong economic alternative in U.S of A.
Every country are starting to ban. What if USA ban? how will it go?
They will not ban Bitcoin. How could they ban it when the wall street people are already joining the Bitcoin saga one by one and have bought their own shares of Bitcoin already. And as an advanced country, they cannot possibly just shut down Bitcoin in their country. That would be perceived as a step backward. While the other countries are already open-minded about the existence of cryptocurrency, USA would do the complete opposite? Not happening.
No usa is working towards legalisation of Bitcoin and Crypto Trading Usa govt is positive on Bitcoin. And block chain
If this happen it will be terrible for Bitcoin and there is no doubt that it will affect the value of it. However as i see it in the news so far there is no indication that they are considering a ban on Bitcoin. Maybe USA just wants more regulation or supervision so they can catch people who abuse the anonymity of Bitcoin.
I have never heard of the rumor that bitcoin or other crypto currencies will be banned in the United States, their president (Donald Trump) is supporting this currency is not it? even some of its company assets also use crypto currency. therefore, I think it is impossible if this country prohibits the circulation of bitcoin in the country
Bitcoin is the last thing on the economic landscape for the US right now.
They need to sort out their countries economic crisis first.
They need to sort out their countries economic crisis first.
Of course there is a chance. If the US went through the trouble to establish FATCA (essentially saying, "we don't care about other country's laws... it's US law that rules the financial world") just because they want to reduce the number of Americans who are keeping money overseas and away from the eyes of the US IRS, that is the exact same reason why they would want to stop Americans from keeping money in bitcoins and crypto to again keep it away from the eyes of the US IRS.
Accepting Bitcoin as a payment for a tax is the new trend in the USA.
The Arizona State, just like the Georgia State also submitted a proposal for a similar action to be undertaken. The proposal was submitted in January this year, and if accepted, authorities will partner exchange websites or companies to allow a smooth transaction.
The Arizona State, just like the Georgia State also submitted a proposal for a similar action to be undertaken. The proposal was submitted in January this year, and if accepted, authorities will partner exchange websites or companies to allow a smooth transaction.
Not sure what I would do if Bitcoin were to be banned in the US.
Tai Chi Chain is established in the United States & we have mining operations, traders, etc.
Would be the end of Tai Chi Chain
Tai Chi Chain is established in the United States & we have mining operations, traders, etc.
Would be the end of Tai Chi Chain
I dont think they will ban it . USA loves bitcoin because they get high profits and they create lot of icos related to bitcoin.
If this happen, its going to be pain to other holders. Many people in this country are accepting bitcoin. And there are also establishments are using bitcoin as their means of payment (im not sure if some of them closes as what i watched in cnn). But i guess this is near impossible to happen, maybe regulation might took place but a total ban? Not. I just hope it will not happen, bitcoin price might crash. And i guess there are some whales residing in the US. They will not allow it to happen
The only countries that are banning bitcoin and other cryptocurrencies are those that have capital controls - like China, which is experiencing capital flight.
The USA does not have capital controls, and has nothing to fear from bitcoin, and quite a lot to gain from it (new asset, new technology).
The USA does not have capital controls, and has nothing to fear from bitcoin, and quite a lot to gain from it (new asset, new technology).
The USA DOES have capital controls. Many banks, like in Hong Kong for example, rarely allow Americans to open accounts anymore because of FATCA laws and all of the compliance overhead that it brings.
The USA, or individual states, can order banks to refuse remittances from exchanges at any time. I remember reading that Wisconsin and possibly residents of another state are not allowed to open accounts on US based crypto exchanges. New York drove out most crypto enterprises due to regulations.
If Iran and Venezuela get their cryptos going, expect enormous headaches for crypto in the USA under the guise of fighting terrorism and don't expect much of a warning when it happens.
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