It's nothing new tbh. Most of the countries' governments have always been hostile towards cryptocurrency since they had absolutely no idea on how to completely get it under control. The most they could do was to prevent their citizens from accessing exchanges and whatnot, but that can be bypassed quite easily since crypto is something that can be accessed with the internet. As long as one really wants to, one can easily bypass most restrictions that the government has set. Regulate they might try but honestly, it's just them about to give up on actually doing something.
Bitcoin (or crypto in general) just isn't something that can stay under control or bound by rules or laws since it already has inherent rules that its system follows. It runs perfectly fine and almost cannot be abused (if not totally) with the rules it has on its own.
Topic: Is this a gang up against cryptocurrency? Or ways to regulation? - page 3. (Read 411 times)
You know, its really somehow. How the trend just keeps going and one could begin to wonder the same thing or what do they stand to get from trying to stop what can't be stopped. What is promoted by the will of the people!
While other governments are busy approving it for a legal tender with El-Salvador being the first and I heard news lately of Iraq looking at it on approval too. Mean while, the nations with large economies like China and UK keep being a plague to the system. Purging it at every chance they get, focusing in the institutions and exchanges that makes this happen. Cryptos being decentralized is the best thing that ever happened to it. Imagine if it were centralized and what damage the government might have done to people's investment. Just about the time we had hoped on enjoying ROI and then they step in.
Well, it has always been we and our sentiments about the market that determines what shape the market would take. No doubt the institutions have there part in this but, our collectivedecision is the most important. See it as a FUDthat it is and then, we head on.
While other governments are busy approving it for a legal tender with El-Salvador being the first and I heard news lately of Iraq looking at it on approval too. Mean while, the nations with large economies like China and UK keep being a plague to the system. Purging it at every chance they get, focusing in the institutions and exchanges that makes this happen. Cryptos being decentralized is the best thing that ever happened to it. Imagine if it were centralized and what damage the government might have done to people's investment. Just about the time we had hoped on enjoying ROI and then they step in.
Well, it has always been we and our sentiments about the market that determines what shape the market would take. No doubt the institutions have there part in this but, our collectivedecision is the most important. See it as a FUDthat it is and then, we head on.
Stopping activities of cryptocurrency users in a country can have minimal effect on the entire market activities especially if the participants have higher contributions to the entire market. This is a way to limit the number of persons that into the crypto market. Like we all know that the government are always looking for ways to control the crypto market in order to suite their economy since a lot of people have stated dumping Fiats for digital currencies which has good privacy coverage.
this is somewhat comical, i remember that since years i have seen so many hyip sites saying they have company registered in the united kingdom, it made me think that in the united kingdom they didn't check the sites when they acquire such records online and now they know binance and too are forbidding binance? is it because binance moves a lot of money? furthermore i heard that binance has no corporate headquarters, so what exactly is UK banning? binance is not in the united kingdom, people from the united kingdom can use binance however they want and whenever they want
lf you truly understand the purpose of cryptocurrency like Bitcoin, you wouldn't be worried too much when governments ask centralized platforms to stop operating in their countries. A responsible person shouldn't be too reliant on such platform once they understand the risk involved, and anticipate possible clash with governments who most likely have rules governing financial sectors especially on the issues of holding customer funds , acting as Bank or resolution of issues between customers and banks.
Business should be building decentralized platforms that enable users control their funds/assets and take part in regulation/governance/consensus that's according to Just laws or any country/person on Earth would find Fair, Just and Satisfactory
Unfortunately,we have people building the wrong platforms based on wrong principles.
Business should be building decentralized platforms that enable users control their funds/assets and take part in regulation/governance/consensus that's according to Just laws or any country/person on Earth would find Fair, Just and Satisfactory
Unfortunately,we have people building the wrong platforms based on wrong principles.
Look at the government regulations of the world that anchored bitcoin prohibiting, and this year has been the craziest year in which they have almost united to attack bitcoin mining colonies everywhere. stop operations, create policies, and restrict crypto exchanges. Binance, as the largest exchange, has begun to be targeted by the market blindly so that all crypto owners give up and cannot sell their bitcoin holdings.
what's behind this crazy policy, we see someone is trying to control it remotely and that person is playing behind the scenes.
what's behind this crazy policy, we see someone is trying to control it remotely and that person is playing behind the scenes.
couple things.
Number 1 The way media presents something is almost invariably in a fashion to invoke an emotional response. The purpose in doing so is to gain clicks. Reality of the actual situation is Ignored a lot in this process.
Number 2 Countries are protective of their money due to the fact that 2 main components of Sovereignty is Control of the money supply and control of the courts/justice/laws. Crypto is a threat to the money supply. But Smart countries don't ban it they make sure they can Track the flow of money for TAXATION. <<< that's the big thing.
So the smarter countries require that the gov has access to all transaction so taxes can be determined and the gov gets their cut. Exchanges that are not complying with these quite reasonable demands from the countries perspective will not be allowed to operate.
Medias take is: "Country BANS CRYPTO" Reality "Country demands their tax!"
see the diff in the headlines and how is would change how you perceived the story?
Number 1 The way media presents something is almost invariably in a fashion to invoke an emotional response. The purpose in doing so is to gain clicks. Reality of the actual situation is Ignored a lot in this process.
Number 2 Countries are protective of their money due to the fact that 2 main components of Sovereignty is Control of the money supply and control of the courts/justice/laws. Crypto is a threat to the money supply. But Smart countries don't ban it they make sure they can Track the flow of money for TAXATION. <<< that's the big thing.
So the smarter countries require that the gov has access to all transaction so taxes can be determined and the gov gets their cut. Exchanges that are not complying with these quite reasonable demands from the countries perspective will not be allowed to operate.
Medias take is: "Country BANS CRYPTO" Reality "Country demands their tax!"
see the diff in the headlines and how is would change how you perceived the story?
UK is restricting Binance from there service in the UK and warning the people against binance.com. These restrictions looks to me like a means to regulate the activities of cryptocurrency.
The government's institutions expect all companies that work with money should comply their rules. From what I've read Binance doesn't, nothing unexpected here, especially since Binance is not registered in UK.
They will play cat and mouse, then, if UK is big enough market to worth the hassle, we'll see a binance.co.uk only for the brits, with certain restrictions enforced and so on. But that's only if UK is a big enough market for Binance...
You need to get used to the idea that a decentralized cryptocurrency is not needed by states. Although they legalize it, they will not actively support it. Cryptocurrency is indeed a competitor and alternative to the national money of states, and therefore, from time to time, governments will regulate and restrict its circulation. This is inevitable and should be treated more calmly. We will need to defend our rights to use cryptocurrency at the legislative level.
Lately some government have come hard on cryptocurrency in trying to ban activities or stop people from crypto. India and Nigeria have a restriction on their people from freely using or hodling crypto, although that of Nigeria is to crypto accounts in the banks but that is part of restrictions. Now the latest country to come with another policy in line with restricting patronage of crypto is UK.
UK BAN ON BINANCE
UK is restricting Binance from there service in the UK and warning the people against binance.com. These restrictions looks to me like a means to regulate the activities of cryptocurrency.
In my own reason, I think we get this kind of news whenever the market turns bear after a good bull run and the government politicians have cashed out.
UK BAN ON BINANCE
UK is restricting Binance from there service in the UK and warning the people against binance.com. These restrictions looks to me like a means to regulate the activities of cryptocurrency.
In my own reason, I think we get this kind of news whenever the market turns bear after a good bull run and the government politicians have cashed out.
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