Topic: Qatar Bans CryptoCurrency - page 4. (Read 837 times)
Qatar is not a financial power house of the world, it's still an emerging economy. The government will need to assemble Cryptographic expert to actually understand if their decision will either positively or negatively impact on their economy in the long run. I know they will make a U-turn for sure. When leading economy of the world are seeking for Crypto adoption, smaller economy must find a good technological way to consolidate their economy.
I do not think this will go further as Qatar will lift the ban in the coming future given the popularity and importance of cryptocurrency. Even China is becoming flexible when it comes to cryptocurrency. It is launching its own digital currency. Blockchain and cryptocurrency are the future of the world. And authorities, they like it or not, are to adopt them.
Not only Qatar but also many countries are banning domestic crypto transactions and there are quite strict laws about it. There are still a lot of countries with legal restrictions on cryptocurrencies so I feel this is quite normal. There are so many scammers in this market, the government just wants to be good for its people. but hopefully our crypto market will grow strongly again soon and it must be shared equally with potential alts, then the manipulation will be reduced by many participants and no more scams. . What do you think about my thoughts?
I think the main reason why the Qatar countries banned the Blokchain industry, because they think that the presence of cryptoqurrency can have a negative impact. I mean concern about illegal transactions, whether it is for funding terrorists, money laundering or other types of crime. but for me if the Qatar can accept the presence of the blockhain industry then this can have a positive impact on the cryptoqurrency market.
So strange to see Qatar in the news a lot,,, until last World Cup I did not even know they were a country, I always thought they were part of the United Arab Emirates.
I am reading about them now and they want to be on the world map with all kinds of new strategies to open up to the world. Banning crypto is so not the way to do that though,,, but I guess they fear what happens in a small country!
I am reading about them now and they want to be on the world map with all kinds of new strategies to open up to the world. Banning crypto is so not the way to do that though,,, but I guess they fear what happens in a small country!
I think India did the same thing with its exchanges and it worked as there is only 1 good exchange and most of the others got shut down. P2P is the only way to use crypto after a blanket ban on financial offices like Banks. India is still figuring out how to tax the crypto and how to tackle money laundering. I hope Qatar will also do the same.
Let's respect what Qatar's decision. After all, it isn't the first time seeing one country that bans cryptocurrency. That announcement with "until further notice" will be possibly change when they will reconsider it in due time. However, they have decided to suspend and prohibits all crypto assets transactions because it does contribute to illegal crimes which makes sense.
It's sad that their government bans cryptocurrencies but maybe they are in need of a regulatory governing for cryptocurrencies, hopefully in the future the nation will have another idea about vi65c banning cryptocurrencies.
Qatar is a rich country and is very popular in the eyes of the world, so they are not afraid of anyone and new things, so they dare to ban cryptocurrency in their country, I think that's a very natural thing. 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...
Yup, possible that they just wanted to get regulations going on in the beginning to at least send some signals for Qatari's crypto enthusiast. But it doesn't mean that they are going for a full ban here. Qatar is one government in the Middle East that is very open so I have no doubts that they are going to regulate crypto and maybe adopt in the next years or so.
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
https://cointelegraph.com/news/qatar-financial-centre-puts-blanket-ban-on-cryptocurrency-businesses
maybe they will implement new regulations in the future and forbid financial services to support crypto transactions in Qatar but in my opinion it is more in regulating crypto
I think everything is non-permanent. Qatar might later open itself to adopt cryptocurrency again because of a need. It's like in China, they ban bitcoin and their friends but instead, they make their own crypto. In essence, this technology is very useful for human life but sometimes its use is misinterpreted.
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
https://cointelegraph.com/news/qatar-financial-centre-puts-blanket-ban-on-cryptocurrency-businesses
maybe they will implement new regulations in the future and forbid financial services to support crypto transactions in Qatar but in my opinion it is more in regulating crypto
Every country take careful respond about crypto and all take sit on grey side. Banned, reject, not accept or what ever they make term the point is until further information. We can't blame them because they should protect currency stability from crypto. If USA, China and Russia already create their own coin maybe Qatar will do the same. This time many country only adopt blockchain but not crypto and Qatar reject crypto for economic purposes. Protect currency, gold and oil more important than accept crypto in their economic system.
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...
Is this something that covers all citizens? I think this ban was somewhat similar to the previous ban in china which speaks of institutions not allowed to facilitate cryptocurrencies. This one speaks of firms. If this is the case, individual persons in Qatar can still access and even transact using crypto for as long as it involves P2P transactions or cross-border deals.
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
https://cointelegraph.com/news/qatar-financial-centre-puts-blanket-ban-on-cryptocurrency-businesses
Is this a reactionary effort towards the tension between Iran and USA? Obviously, one can easily attribute the recent hike in bitcoin prices to that. Even Oil has surged to 25%, as well as gold. 2020 is already playing out to be a remarkable year
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Qatar has restricted itself from its neighboring countries (they had embargoed Qatar anyway) and this could be the move to further restrict the move of capital to and from these countries. Qatar has been a crypto neutral country in the past and I really hope they come up with some form of regulation to better use crypto than putting a blanket ban.
That does make sense considering when people are almost facing a hard time and worrying about their wealth they always resort to crypto or other form of borderless store of value just like the recent inflated price of btc in Iran. It might be the government seeing their economy has becoming weaker and can't handle to let any capital out of their country. 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
They didn't realize the real use case of cryptocurrency. Cryptocurrency is banned for money laundering, Qatar has huge money by natural source. They don't support cryptocurrency as did China. But do you research on volume or use case which country is the top. That is amazing that cryptocurrency rejected country has top user of Bitcoin or other currencies. https://cointelegraph.com/news/qatar-financial-centre-puts-blanket-ban-on-cryptocurrency-businesses
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
https://cointelegraph.com/news/qatar-financial-centre-puts-blanket-ban-on-cryptocurrency-businesses
That wasn't a final decision. They only ban it for business related transactions such as stalls whom accepts cryptocurrencies nor buys it, but not those whom uses it idly or a normal person here in the forum that has cryptoholdings and earn with trading it. Yet the big challenge for them is how will they manage if ever the law is finalized. But still, they only need to be calm and let their own government to study cryptocurrencies and its capabilities of making a economy grow, in which soon after those times of "until further notice" they'll realize that it's somehow a stupid idea banning it.
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 is just an expectation and to come up with a blanket ban is unfortunate as people might have already invested in the market and i am not sure whether they gave any warning before coming up with a ban so that the investors have the time to convert their assets, not sure how successful these ban can be as people always tend to find an alternative and majority will turn to P2P trade use forex as a cover to over come these restrictions. 
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
https://cointelegraph.com/news/qatar-financial-centre-puts-blanket-ban-on-cryptocurrency-businesses
I think this the second country this week that bans the use of Cryptocurrency, it really depends on how the government sees it, some sees it as a revolutionary technology that can change the monetary system, others see it as a threat to monetary sovereignty, these countries that ban Cryptocurrency fails to see the beauty and the great features of Cryptocurrency they did not look forward and in the future.
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