I think the government does have the authority to refuse or accept bitcoin. and I think the majority of governments reject bitcoin because they don't understand bitcoin well and consider bitcoin as a threat to national currencies. and we as ordinary citizens cannot contradict that rule. but I am grateful even though in my country I have not been allowed to use bitcoin as a means of payment but have been allowed to use bitcoin for investment and trade. hopefully in the future my country is aware of the great potential of bitcoin so that in the future they will legalize bitcoin for payment.
We couldn't really do anything about the law, it imposes threat to the government but what we could do is something revolutionary, if we keep on using cryptocurrency and let them see that the cryptocurrency is unstoppable, we could make them adjust to it. Laws could fit the society, if laws could not stop bitcoin and we aren't really breaking the rules, then why not adjust for them to fit the laws for the betterment of the society? Plus, if we always keep the reputation of bitcoin and cryptocurrency clean, they will not have anything to use against us. Remember the quote "if you cannot beat them, join them". Soon, we'll see pro-bitcoin governments arising with a whole new set of jurisdiction to make our country and economy develop. 
Topic: Crypto Currencies VS local law policies (Read 757 times)
I think the government does have the authority to refuse or accept bitcoin. and I think the majority of governments reject bitcoin because they don't understand bitcoin well and consider bitcoin as a threat to national currencies. and we as ordinary citizens cannot contradict that rule. but I am grateful even though in my country I have not been allowed to use bitcoin as a means of payment but have been allowed to use bitcoin for investment and trade. hopefully in the future my country is aware of the great potential of bitcoin so that in the future they will legalize bitcoin for payment.
"Local law can be a barrier for many countries to accelerate the blockchain industry." You're right with it, at my country we're barely implementing Blockchain industry but even when it ins't completed there are laws that can be barriers in a near future. So "houston we have problems".
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Crypto Currencies is facing local law policies many where: Local law can be a barrier for many countries to accelerate the blockchain industry. I read the sentiment of many people where the bitcoin or concurrency is not legally authorized but they are very much excited to use this technology. I think, a global revelation only can bring those countries to be inspired.
Yep, we need more pioneer countries to try to regulate crypto to inspire more countries following the same path. I think most countries need assurance on how to prevent crypto being used as money laundering or funding for terrorism. I'm not updated on this but how is the regulation in Japan look like?Eventually, all crypto will be regulated, and it looks like that's where most countries are headed.
I hope so. At least in my country trading crypto is not illegal. Crypto Currencies is facing local law policies many where: Local law can be a barrier for many countries to accelerate the blockchain industry. I read the sentiment of many people where the bitcoin or concurrency is not legally authorized but they are very much excited to use this technology. I think, a global revelation only can bring those countries to be inspired.
You have mixed Blockchain and BTC. Actually BTC run by blockchain technology and blockchain is not barrier here. Many countries using blockchain technology where btc not legal. So you have to understood those separation and how you will bring revelation when any central government did not accept any currency?
thanks.
No matter how laws are getting strict about crypto, there will surely some cryptocurrencies that will be flexible enough to adjust to follow the jurisdiction of a country. If we want something to happen, there is always a way to do it, one thing to consider is the utilitarian purpose which is intended to deliver the common good for the people and for me, cryptocurrencies have really no intention of making people avoid the law, but could really make the people systematic to follow the law.
Crypto Currencies is facing local law policies many where: Local law can be a barrier for many countries to accelerate the blockchain industry. I read the sentiment of many people where the bitcoin or concurrency is not legally authorized but they are very much excited to use this technology. I think, a global revelation only can bring those countries to be inspired.
They think cryptocurrency is a big threat to banks and other financial sector and that's why some government are still not making any regulation about this one aside from banning it. You are lucky if you are in a place where crypto is legal, and in my place you can use it with a regulation especially if you are going to do a legal business but ordinary people can own bitcoin or any other cryptos legally which is more good for all of us. They have to understand this technology, we still need the support of many countries. 
Eventually, all crypto will be regulated, and it looks like that's where most countries are headed.
If the regulation will come, it is fine. It is also for the better for all crypto users like us. It may look like we're headed there, but it will take a lot of time before it happens. The government has a long way to go to achieve regulating cryptocurrencies. They need to have more consideration and knowledge to do it. Crypto Currencies is facing local law policies many where: Local law can be a barrier for many countries to accelerate the blockchain industry. I read the sentiment of many people where the bitcoin or concurrency is not legally authorized but they are very much excited to use this technology. I think, a global revelation only can bring those countries to be inspired.
Eventually, all crypto will be regulated, and it looks like that's where most countries are headed. Volatility is what prevents the adoption of this technology in markets and places more than daily regulations.
These regulations always play an important role in regulating central transactions and platforms, so it may be difficult to buy these currencies but will not make them impossible.
Inflation and centralization are what give paper money weaknesses, but volatility makes them stronger than Bitcoin.
These regulations always play an important role in regulating central transactions and platforms, so it may be difficult to buy these currencies but will not make them impossible.
Inflation and centralization are what give paper money weaknesses, but volatility makes them stronger than Bitcoin.
I rather consider cryptocurrency and bitcoin's volatility is what makes it stronger than fiats or currencies that are regulated. Imagine if you have a fiat and its value or market price changes drastically every time. The entire country would not have a unified market price of the goods and services they offer, or else they need to have a unifying software that entangles all of the transactions to a proper SRP of products and services.
Legal policies can change according to the circumstances that occur, they are not likely to maintain policies that are outdated to deal with modern technologies such as Blockchain.
Just as China has begun to make policies about digital currencies and crypto, meaning they have dared to take the balance more advanced than other countries.
Just as China has begun to make policies about digital currencies and crypto, meaning they have dared to take the balance more advanced than other countries.
I will not reveal anything new to you if I say that payments in cryptocurrency in any country are possible only with the permission of the government. Thus, no matter how cool the blockchain technology is, the state remains the main link in its development as a means of payment. As we can now see, cryptocurrency is recognized mainly in countries with developed economies.
sometimes local law in a country does not even provide a good opportunity for crypto, there are regulations that actually limit crypto. This should be eliminated, because right now I think that legal policy in a country should be able to support crypto, so that it can develop better for growth
There are two different things cryptocurrency and Blockchain. Governments are not against blockchain technology but cryptocurrency. There is a thread created today (see the link below), which is telling that India may ban cryptocurrency while you don't find such news about blockchain technology.
This is absolutely not good for India Bitcoin community!
This is absolutely not good for India Bitcoin community!
It's difficult for local law enforcement to control bitcoin and crypto but they do it by making it difficult to exchange the bitcoin to fiat and fiat to bitcoin, making it difficult to provide crypto related services. So, the crypto needs the local laws in their favor to flourish. We should be able to convince our legislator that crypto is here for greater good.
The volatility of bitcoin as well as its decentralization makes it hard for some countries to accept and use it. They can't put regulations on it and can't track the transactions done using this currency, whether it's illegal or not. Also, the economy and fiat of a country can be overpowered by bitcoin that also adds up to doubts and worries of some countries to it. Luckily, here in my country, there are no such rules and regulations about using bitcoin and cryptos. The government stays neutral about this topic. We can freely use bitcoin and transact with it without any worries of violating any government rules.
Crypto Currencies is facing local law policies many where: Local law can be a barrier for many countries to accelerate the blockchain industry. I read the sentiment of many people where the bitcoin or concurrency is not legally authorized but they are very much excited to use this technology. I think, a global revelation only can bring those countries to be inspired.
If a government has chosen to stop its citizens from the use of cryptocurrency, then there is nothing you can do about it. But in such countries there are still people that are making use of cryptocurrency underground, they still have a source that they can follow to buy and sell cryptocurrencies without being caught by the government (if eventually they are caught, they get to serve punishment for it).Some of the government that has stopped their citizens from using cryptocurrencies have plans to create a cryptocurrency of their own. Just like China did, and then announced that they are releasing their own cryptocurrency. But I read a news article that they are now allowing people to mine Cryptocurrency (I don't know if that includes using it as well lol), and I also saw a post about that in this forum.
In a majority of countries there are a lot of problems with crypto and laws.
This is one of the main problem of mass adoption
This is one of the main problem of mass adoption
The governments are not against blockchain technology, many countries have already started their research on blockchain and how they can implement it in the system. But they cant use bitcoin as it is not centralized.
Or they can also stay anonymous and not providing such informations for their governments.
Therefore no trackings would be found.
Nevertheless if they have such issues and can only live of Cryptocurrencies, they should take another solution such as moving to another country / city where the law accepts it.
But for now yeah there are such law policies that ruins the necessary experience and activeness so that crypto becomes even more adopted.
Therefore no trackings would be found.
Nevertheless if they have such issues and can only live of Cryptocurrencies, they should take another solution such as moving to another country / city where the law accepts it.
But for now yeah there are such law policies that ruins the necessary experience and activeness so that crypto becomes even more adopted.
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