Topic: Do you fear the president of your country, one day, making Crypto illegal ? - page 16. (Read 4143 times)
August 03, 2020, 03:13:21 AM
Ban to pay with cryptocurrency, I think this is all that he can do, no one will forbid me to store on my wallet the cryptocurrency that I want.
August 03, 2020, 02:46:24 AM
I am living in India, and here the system is different. The president has only nominal powers and the real power is with the parliament and with the ministers. But that doesn't mean that we don't have to worry about a potential ban. The former finance secretary (Subhash Chandra Garg) once proposed to make ownership of cryptocurrency a criminal offense, punishable by a jail term of up to 10 years. Fortunately, the finance ministry fired this loser and threw away his recommendation in the dust bin.
OMG! That sounds shocking! I can't believe there is a recommendation like that! Of course, the existance of cryptocurrencies is a threat to the dominance of fiat money. Personally, I think the governments don't really like the idea of having a global money which can conveniently replace their fiat money at all! They need to keep their money in charge in order to control their countries, I guess! 
August 02, 2020, 11:59:50 PM
Besides, it is not as if some countries actually legalise crypto, most crypto activities in some countries are done illegal, but if the president of a country will publicly announce crypto as illegal will definitely be a big problem, because till now the crypto community are hoping government will start to accept crypto gradually and perhaps some day legalise it so that people can engage in crypto freely, so let's hope they won't result to that.
August 02, 2020, 11:59:10 PM
I am living in India, and here the system is different. The president has only nominal powers and the real power is with the parliament and with the ministers. But that doesn't mean that we don't have to worry about a potential ban. The former finance secretary (Subhash Chandra Garg) once proposed to make ownership of cryptocurrency a criminal offense, punishable by a jail term of up to 10 years. Fortunately, the finance ministry fired this loser and threw away his recommendation in the dust bin.
August 02, 2020, 11:56:24 PM
The truth cannot be overlooked because the government has their own functioning and they look form their side while making decisions and might not consider the future of this crypto. They may see only form one angle which is like scams happening around it and this may just lead to the ban.
August 02, 2020, 11:52:57 PM
Of course, there's always that possibility, that one day you will wake up and your government suddenly went on a U-turn on crypto currencies. And it's really gonna sadden those crypto enthusiast who are in a friendly BTC country.
But I do hope that our country will not turn its back on crypto, we have been enjoying their support since crypto started to seep on our population, and they have been active being us warnings for potential scams and even have a plans to be one crypto haven in the last two years.
Yes, that's the truth. There is always a possibility that the governments will restrict or even ban the appearance of the cryptocurency market. The reason is that the existance of cryptocurrencies can harm the dominance of fiat money. Governments use fiat money as a tool to control their economy and they don't like any factor that can threaten their tool. But I do hope that our country will not turn its back on crypto, we have been enjoying their support since crypto started to seep on our population, and they have been active being us warnings for potential scams and even have a plans to be one crypto haven in the last two years.
August 02, 2020, 11:41:02 PM
What if, for example - like after that twitter hack - the President wakes up (in a bad mood) and decides with an executive order to make all crypto illegal in the USA?
Hypothetically, only countries that have a authoritative government such as North Korea, China or Russia can do that.
Of course this probably will never happen in today's world, as the there is big money is invested into crypto currencies; but do you ever think that it is even remotely possible...
Or the next elected president is so "old school" and decides that crypto needs to go?
Or the next elected president is so "old school" and decides that crypto needs to go?
This is possible, we don't know if the next elected President, will have a hard line stance against crypto.
I don't mean only America, what about in your country; do think that a future ban on crypto currencies is ever possible in your country?
Yes, so the next time you will vote for your country's next President, be sure that he is a pro-crypto so that this won't happen because it's going to be very bad and frustration for all of us.
August 02, 2020, 11:37:00 PM
Of course, there's always that possibility, that one day you will wake up and your government suddenly went on a U-turn on crypto currencies. And it's really gonna sadden those crypto enthusiast who are in a friendly BTC country.
But I do hope that our country will not turn its back on crypto, we have been enjoying their support since crypto started to seep on our population, and they have been active being us warnings for potential scams and even have a plans to be one crypto haven in the last two years.
But I do hope that our country will not turn its back on crypto, we have been enjoying their support since crypto started to seep on our population, and they have been active being us warnings for potential scams and even have a plans to be one crypto haven in the last two years.
August 02, 2020, 10:36:11 PM
That's possible scenario it already happened on Russia but not really illegal but only forbid to have activity on crypto trading, and etc if not registered or clause on their new law approved by Putin.
What happened on Twitter Incident will really be a big issue on crypto and some could trigger to do what you are saying but lets hope not one president or leader get dissapointed and come to this. Russian community already sad to their leader announcement for the strict rule applied on their country. Hope no ones follow.
What happened on Twitter Incident will really be a big issue on crypto and some could trigger to do what you are saying but lets hope not one president or leader get dissapointed and come to this. Russian community already sad to their leader announcement for the strict rule applied on their country. Hope no ones follow.
August 02, 2020, 10:30:56 PM
It is possible for a president to be bad like what you have described because it's his/her account that has been hack. But it just can't be passed quickly out of his words. There's a process even if it's an executive order.
But if that happens in my country, I don't even think that it's going to happen. As it's a new technology and most are new to it, they should go after the scams and not cryptocurrencies.
But if that happens in my country, I don't even think that it's going to happen. As it's a new technology and most are new to it, they should go after the scams and not cryptocurrencies.
August 02, 2020, 10:24:07 PM
I am not too worried because I am sure that my president will not do that because of his personal anger. He will think about his people, and he will not make a rash decision without discussing it with his ministry/government. Even if he makes that decision, I am sure that will not makes people who use crypto will have a problem because we have the other way to get the money into the bank account. I hope that my government, especially my president, will think twice before deciding something related to cryptocurrency.
August 02, 2020, 08:28:07 PM
What if, for example - like after that twitter hack - the President wakes up (in a bad mood) and decides with an executive order to make all crypto illegal in the USA?
Of course this probably will never happen in today's world, as the there is big money is invested into crypto currencies; but do you ever think that it is even remotely possible...
Or the next elected president is so "old school" and decides that crypto needs to go?
I don't mean only America, what about in your country; do think that a future ban on crypto currencies is ever possible in your country?
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