Crypto Currencies VS local law policies - page 4.

hello_good_sir

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Quote from: Savemore on November 24, 2019, 11:49:53 PM

Quote from: Darker45 on November 24, 2019, 11:09:57 PM

Quote from: BlackboardTrade524 on November 24, 2019, 05:07:59 PM

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.

First of all, cryptocurrencies =/= blockchain, or blockchain =/= Bitcoin. There are countries where blockchain is much appreciated even if Bitcoin is not. Even a good number of banks are appreciating the blockchain technology, even using them, but they are not in favor of the likes of Bitcoin and other cryptocurrencies. In my local setting, a few banks are already playing with blockchain but a mere mention of Bitcoin or cryptocurrency when opening an account could be enough for your application to get rejected.

My country is favor to the blochchain technology but not favor to the ICOs and STOs. There are now many news and issues about scammers and it is the reason why my country doesn't regulate ICOs and STOs.

Yep - that's actually pretty true with a large amount of these countries, not a lot of countries support crowdfunding in the crypto-space, and there are definitely going to be a lot of issues with those sort of businesses.

The real issue is though, does your control support decentralization? Almost every country in the world supports blockchain technology, but a lot of them don't like the decentralized aspects of it (for example BTC), I want countries to allow us to have more freedom with our money.

Darker45

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Quote from: Savemore on November 24, 2019, 11:49:53 PM

Quote from: Darker45 on November 24, 2019, 11:09:57 PM

Quote from: BlackboardTrade524 on November 24, 2019, 05:07:59 PM

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.

First of all, cryptocurrencies =/= blockchain, or blockchain =/= Bitcoin. There are countries where blockchain is much appreciated even if Bitcoin is not. Even a good number of banks are appreciating the blockchain technology, even using them, but they are not in favor of the likes of Bitcoin and other cryptocurrencies. In my local setting, a few banks are already playing with blockchain but a mere mention of Bitcoin or cryptocurrency when opening an account could be enough for your application to get rejected.

My country is favor to the blochchain technology but not favor to the ICOs and STOs. There are now many news and issues about scammers and it is the reason why my country doesn't regulate ICOs and STOs.

This is also happening in my country. This is the primary reason why the impression developed among ordinary citizens and perhaps even among those who are in the authorities is that cryptocurrency or Bitcoin is some kind of a scheme not much unlike Ponzi; because it is being rampantly used by these illegal schemes. The laws therefore, since they are primarily reflective of these people's very rudimentary, even distorted, understanding of cryptocurrency, are in danger of being against cryptocurrency.

Local laws should be based on the real account or definition of cryptocurrency. Lobbyists should also encourage lawmakers to conduct thorough hearings in which crypto experts are invited to give them detailed briefing about what crypto truly is as well as their true potentials. I remember watching a Youtube video in which crypto enthusiast Andreas Antonopoulos was invited by a Canadian legislative committee to shed light on Bitcoin. This is how it should be done in local countries before crafting crypto-related laws.

marcous

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But the development of technology is undeniable so that sooner or later they will adopt technology that is indeed useful. Blockchain is a new technology that has many pros and cons but some developed countries have adopted blockchain technology in their financial systems. this proves not all countries think skeptically about blockchain I guess

haufranco

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Right. And I truly believe there should be no local laws at different paths. It must be world-wide regulation guys

gabmen

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There will always be governments who'll be afraid of something they don't fully understand. And we probably have some ways to go before a middle ground can be achieved completely. I think majority of the people still thinks crypto is something that's just used for illegal transactions, black market and scams. This will change in time with more information and proper understanding.

Savemore

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Quote from: Darker45 on November 24, 2019, 11:09:57 PM

Quote from: BlackboardTrade524 on November 24, 2019, 05:07:59 PM

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.

First of all, cryptocurrencies =/= blockchain, or blockchain =/= Bitcoin. There are countries where blockchain is much appreciated even if Bitcoin is not. Even a good number of banks are appreciating the blockchain technology, even using them, but they are not in favor of the likes of Bitcoin and other cryptocurrencies. In my local setting, a few banks are already playing with blockchain but a mere mention of Bitcoin or cryptocurrency when opening an account could be enough for your application to get rejected.

My country is favor to the blochchain technology but not favor to the ICOs and STOs. There are now many news and issues about scammers and it is the reason why my country doesn't regulate ICOs and STOs.

hello_good_sir

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Activity: 1008

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Quote from: BlackboardTrade524 on November 24, 2019, 05:07:59 PM

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.

We need a lot more of these barriers to be broken, and something like a revolution before this adoption is able to happen, otherwise, countries like China and America will never end up adopting these technologies and it's going to be a huge waste of time.

There are a lot of companies that are already taking advantage of this technology, although there hasn't been enough policies and laws that have been established, so these businesses are getting very hard to run (look at the binance example).

Darker45

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Quote from: BlackboardTrade524 on November 24, 2019, 05:07:59 PM

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.

First of all, cryptocurrencies =/= blockchain, or blockchain =/= Bitcoin. There are countries where blockchain is much appreciated even if Bitcoin is not. Even a good number of banks are appreciating the blockchain technology, even using them, but they are not in favor of the likes of Bitcoin and other cryptocurrencies. In my local setting, a few banks are already playing with blockchain but a mere mention of Bitcoin or cryptocurrency when opening an account could be enough for your application to get rejected.

ilovealtcoins

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They saw the potential of Blockchain technology. At the end of 2017 they witnessed the peak of Bitcoin and they wanted to create their own crypto. The advantage of Blockchain technology is clearly seen in the strict management, which does not allow payment of 2 times for the same amount. So for auditors it is an advantage to avoid command space in their financial systems. Their government has absolute control.
Bitcoin can be created by mining operations, but national crypto will be created by that country and licensed by that national currency similar to tether, usdc ... They cannot put Bitcoin into the system. their official monetary system because in this race they have come later and they will not give up on their front.

BlackboardTrade524

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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.

Topic: Crypto Currencies VS local law policies - page 4. (Read 757 times)