In my opinion if it is true then QATAR will revise its decision because qatar is alone from Gulf countries there is no alien for qatar but UAE is big threat for the economy of qatar,UAE government already encourage the Blockchain and the cryptocurrency even launching own coin.
If qatar really want to beat the UAE in econmoy must think about the latest technology like Blockchain and the cryptocurrency,People who love crypto will move from Qatatr due to Bans and it will also affect the tourism industry of Qatar as well.
Topic: Qatar Bans CryptoCurrency - page 3. (Read 837 times)
if this news is true, then it would be very risky to hold Bitcoin at this time, it seems that the dominance of bitcoin will be reduced, or maybe it's a whales game?
I am sure this news will not cause panic, I think this is only a matter of time.I know there are using complicated laws so it takes time to review the bitcoin trading law there.
This could be temporary. See how China and other Big country also ban crypto then suddenly change their mind and go for supporting blockchain and cryptocurrency.
Maybe this is just a strategy to create fud on market and their own local crypto market so big players can enter with such low price and will boost in the end crypto after buying many bags of coins and tokens. Very old strategy IMO.
This is the reality. only the most stupid countries, can ban cryptocurrency for real. in fact, no government is interested in banning. They do this for some reason. maybe they want to create their own cryptocurrency that will be used on their territory and therefore they want to ban other cryptocurrencies. Maybe this is just a strategy to create fud on market and their own local crypto market so big players can enter with such low price and will boost in the end crypto after buying many bags of coins and tokens. Very old strategy IMO.
Maybe this is just the initial regulation about crypto in Qatar. The regulations can change at any time. Qatar prohibits crypto from having a purpose. Maybe they are still learning about crypto currency. Other developed countries have also received cryptocurrency, Qatar as a developed country will certainly rethink regulations regarding crypto. we wait for what the next qatar will do.
I think that is not a strong enough reason, in my opinion although the Qatar is a developed country, it can also be said to be a Muslim-majority country such as Arabic. And as we know that many Islamic religious leaders declared crypto to be haram, so the Qatars made the decision to ban crypto in their countries.
maybe for now, but it is not the end of the line for them =
they will change their position on this matter when more and more countries esp first/second world countries are openly supporting crypto where most of them already are supporting crypto in terms of its legalities...
It should be, if not a lot of people like unfair to the world's countries that have legalized it and like to demo the government in order to be legalized in the future. We must always obey the government also rather than regret getting into the bars because of illegal things like this. And hopefully, many countries legalize cryptocurrency in order to be able to utilize its blockchain. they will change their position on this matter when more and more countries esp first/second world countries are openly supporting crypto where most of them already are supporting crypto in terms of its legalities...
This could be temporary. See how China and other Big country also ban crypto then suddenly change their mind and go for supporting blockchain and cryptocurrency.
Maybe this is just a strategy to create fud on market and their own local crypto market so big players can enter with such low price and will boost in the end crypto after buying many bags of coins and tokens. Very old strategy IMO.
there must be a problem that is bothering the government there. when all of that gets the solution related to the right regulation I think the government will also benefit from crypto. and that can increase investment coming into their countries. at a time like that maybe the thinking of a big country like Qatar will change. Maybe this is just a strategy to create fud on market and their own local crypto market so big players can enter with such low price and will boost in the end crypto after buying many bags of coins and tokens. Very old strategy IMO.
Qatar would be like other countries who banned cryptocurrency but after a few months or a few years, they lift up the ban and regulate and accept it as a payment gateway and also a technology that they will be using as an upgrade to their current system. It is normal to see countries banning cryptocurrency but we all know that at the end, cryptocurrency will win in this game and it will have a massive adaption.
I also agree with you, when the country can not control cryptocurrency and bitcoin, they should ban it. After they have a new law to control this market, they will surely lift the ban and start letting people continue to use and invest. Very similar to Japan, Korea and China, they cannot ban forever because no matter what, people in their country will still be able to use and invest in this market.
This is not a shocking news because even now we have such bans in most countries in the world but please understand the statement; they have banned the exchange activities temporarily because in most countries the govts and the beaurocracy have no idea whatsoever about this new tech so they ban it temporarily till they know it and legalize it and i totally agree that these countries will follow the foot steps of big countries like China, USA and Canada etc once these big countries come up with their comprehensive rules and regulations regarding crypto, i think most countries will sort out this issue in next 2 to 3 years.
The Regulatory Authority shall impose penalties in accordance with its rights and obligations [...] in case of any violation of undertaking [...] activities that are not permitted in the QFC.
https://cointelegraph.com/news/qatar-financial-centre-puts-blanket-ban-on-cryptocurrency-businesses
It means one more country banned cryptocurrency. I do not know to which extend it is true but this might bring a negative impact on the price of the cryptocurrencies. Already we are experiencing some highly volatile price due to the ongoing war like situation between the Iran and the US and this another news like this might bring the price for the coins on another level.https://cointelegraph.com/news/qatar-financial-centre-puts-blanket-ban-on-cryptocurrency-businesses
I do not see any bigger fluctuations until now but if the news gets officially verified from the respective government of Qatar than we might see some fluctuations in the price of bitcoins or each other coin which might go down as compared to now. Already we are having some larger issues from the centralized authorities and news like this is like spirit in the fire.
I think as Qatar has received the crypto business because there are often held seminars on crypto about new projects Qatar is a large country that can produce large investors, whether with news about this will improve the market or Chinese investors give a statement about crypto tires in their country and many investors are increasingly panicked that the price of BTC is falling, so how will the impact be in the future if Qatar starts Ban crypto?
This could be temporary. See how China and other Big country also ban crypto then suddenly change their mind and go for supporting blockchain and cryptocurrency.
Maybe this is just a strategy to create fud on market and their own local crypto market so big players can enter with such low price and will boost in the end crypto after buying many bags of coins and tokens. Very old strategy IMO.
Maybe this is just a strategy to create fud on market and their own local crypto market so big players can enter with such low price and will boost in the end crypto after buying many bags of coins and tokens. Very old strategy IMO.
Who cares if Qatar banned Cryptocurrency, as if they contributed a huge sum to the market anyway. Qatar banning cryptocurrency has no effect at all.
Well if you are a citizen of Qatar then yes, it will be risky for you but not to the others who are not living in that country. I am thankful that the government in my country is open minded and accepted Bitcoin as payment method. And it helps a lot in terms of job opportunities, investments and taxes.
if this news is true, then it would be very risky to hold Bitcoin at this time, it seems that the dominance of bitcoin will be reduced, or maybe it's a whales game?
Well if you are a citizen of Qatar then yes, it will be risky for you but not to the others who are not living in that country. I am thankful that the government in my country is open minded and accepted Bitcoin as payment method. And it helps a lot in terms of job opportunities, investments and taxes.
if this news is true, then it would be very risky to hold Bitcoin at this time, it seems that the dominance of bitcoin will be reduced, or maybe it's a whales game?
maybe for now, but it is not the end of the line for them =
they will change their position on this matter when more and more countries esp first/second world countries are openly supporting crypto where most of them already are supporting crypto in terms of its legalities...
they will change their position on this matter when more and more countries esp first/second world countries are openly supporting crypto where most of them already are supporting crypto in terms of its legalities...
They are may be taking proper measures to avoid such problems to potentially to occur, so as for initial decision they decided to ban it. So until further analyzation may be they would lift up such decision especially when it became necessary. I do believe this banning phase would turn out to be a regualation in the end.
Qatar would be like other countries who banned cryptocurrency but after a few months or a few years, they lift up the ban and regulate and accept it as a payment gateway and also a technology that they will be using as an upgrade to their current system. It is normal to see countries banning cryptocurrency but we all know that at the end, cryptocurrency will win in this game and it will have a massive adaption.
Maybe this is just the initial regulation about crypto in Qatar. The regulations can change at any time. Qatar prohibits crypto from having a purpose. Maybe they are still learning about crypto currency. Other developed countries have also received cryptocurrency, Qatar as a developed country will certainly rethink regulations regarding crypto. we wait for what the next qatar will do.
This might be their initial step to take actions and consider cryptocurrency news and updates relevant that could affect their economy. As a precautionary act, stopping the use of cryptocurrency would not be the best idea as it could affect the job of people living there that utilizes cryptocurrency. In my opinion, allowing cryptocurrency while they are thinking of its possible effects is better, because this is fact, will open up ideas on how they could treat cryptocurrencies in positive manner, rather than just thinking about its impact to their centralized currency.
Maybe this is just the initial regulation about crypto in Qatar. The regulations can change at any time. Qatar prohibits crypto from having a purpose. Maybe they are still learning about crypto currency. Other developed countries have also received cryptocurrency, Qatar as a developed country will certainly rethink regulations regarding crypto. we wait for what the next qatar will do.
They are a rich country. I don't think Qatar's government was wrong in making this law. Many countries have done the same, and China has even imposed a lot of strict rules on cryptocurrency users. But that doesn't mean Chinese people can't use cryptocurrencies, there are lots of ways to circumvent the law, but it needs a bit of knowledge about security and the internet anonymous.
Btw, some of my friends in China are always complaining about this, they always compare that to me whenever we talk about crypto.
Btw, some of my friends in China are always complaining about this, they always compare that to me whenever we talk about crypto.
We can clearly saw in this news which country are really afraid of digital coins that they totally ban using it maybe they already see that many people will try to use and find it more secured and decentralised compared to current monetary system the reason of banning is for possible money laundering abuses but certainly its not the main reason I think.
The Regulatory Authority shall impose penalties in accordance with its rights and obligations [...] in case of any violation of undertaking [...] activities that are not permitted in the QFC.
https://cointelegraph.com/news/qatar-financial-centre-puts-blanket-ban-on-cryptocurrency-businesses
Qatar is not yet ready as of the moment but time will surely come that they will have no other option but to fully accept crypto currencies especially if it will replace fiat someday. https://cointelegraph.com/news/qatar-financial-centre-puts-blanket-ban-on-cryptocurrency-businesses
More and more countries are open to crypto currencies right now so we don't need to worry about those countries that are still hesitating in accepting crypto currencies. Let's just hope that Qatar will realize sooner how important crypto currencies is.
Jump to: