Topic: Zimbabwe Bans All Cryptocurrency Activity - page 2. (Read 595 times)
I don't really think if the given news is accurate, but i will put some opinion to it why central bank trying to stop the adaptation of crypto currency. the reason behind that news is or was handled by big families such as rothschild,rockefeller,astor, and many big persona, they have shares of stock in central bank or somebody of those guys own central bank, now, the idea of crypto is initiating from first in First world and it is easily adopted but in third world such as zimbabwe that has debt from other countries so they don't have the choice to accept crypto because of the banks ruler, central bank is a worldwide bank. it holds almost 1/3 of the money in whole world if i am not mistaken. But, the good news is even thou it is banned in many areas atleast Crypto is circulating it's supply which means it is really functioning.
I have thought cryptocurrencies would be a good opportunity for hyper-inflative countries to enter the world economy, but it seems most countries except Venezuala are against the idea, and would rather stay in their mess.
Not surprising, another state run by the military has banned bitcoin, because it usurps their control over the population.
Not surprising, another state run by the military has banned bitcoin, because it usurps their control over the population.
Is it true news.... Nor it is scam. Zimbabwe 🇿🇼 has a great impact or contribution in bitcoin but Zimbabwe reduce its contribution, then it creates a simple hamper in bitcoin.
Well, it's not only happening and Zimbabwe but it is happening all over the world recently Indian Central Bank has instructed the banking sector to stop providing services to the exchanges involved in cryptocurrencies. Government officials strictly mentioned that they are making efforts in order to eliminate the usage of cryptocurrencies within the country. We all know that Bitcoin and other cryptocurrencies are based on the principle of decentralization which takes away the power from centralised authorities and transfers it to the users and government doesn't want the same thing to happen because they will lose control of our financial lifestyle.
it is not a new LAW. its a reminder/memo(circular)
for banks to only offer only fiat services direct
you cannot buy a iphone in a bank branch. but that does not mean you cant buy a iphone/toilet roll/ baked beans.
nor does it mean that private citizens/businesses should have accounts shut down for offering things that a bank cant offer
I do not really believe in the media even they are accustomed to being paid by the big guys to make the news as if it looks serious but not too serious, pay attention to read the title that it is also in my country but most of them do not want to read the article just see the headline it is prohibited, it turns out that the truth is not in required to buy any goods in my country using bitcoin does not mean bitcoin and other crypto currencies are prohibited
I doubt the government or the banks can ever control the people to this degree. I am sure Zimbabweans know what VPN is and when coins like substratum go into full force, there will be ways to circumvent any kinds of ugly regulations. Anytime a government or entity banned things there was always illegal trade. People want to be financially free and not live in poverty anymore and doing crypto jobs and trading should be encouraged in a poor country where the government doesn't take care enough of the people.
We need to note that these countries courts will put stay orders on orders. First India and now its Zimbabwe, Indian govt may not know what they are doing but zinmbabwe.? They cant manage their own currency, they should welcome cryptocurrencies.
so this memo is just a reminder to banks to not directly handle crypto.
this does not mean citizens/private businesses are banned. it jsut means that banks will not let you get toilet roll, teddybears, crypto or baked beans from a bank branch. all a bank branch can offer is FIAT services
this does not mean citizens/private businesses are banned. it jsut means that banks will not let you get toilet roll, teddybears, crypto or baked beans from a bank branch. all a bank branch can offer is FIAT services
Normally this would certainly be the case but these paragraphs imply otherwise -
“all financial institutions … ensure that they do not use, trade, hold and/or transact in any way in virtual currencies; ensure that they do not provide banking services to facilitate any person or entity in dealing with or settling virtual currencies; and exit any existing relationships with virtual currency exchanges within sixty days of the date of this Circular and proceed to liquidate and restitute existing account balances.”
"The ban includes “maintaining accounts, registering, trading, clearing, collateral arrangements, remittances, payment and settlement accounts, giving loans against virtual tokens, accepting them as collateral, opening accounts of exchanges dealing with them and transfer / receipt of money in accounts relating to purchase / sale of virtual currencies.”
Most of the time they say nothing about ending banking relationships with crypto exchanges and anyone trading it using banking, but that's much more explicit and comprehensive that usual.
No great loss to us. Could be a reasonably sized one to a few Zimbabweans.
This from the memo:
Even though it is a small country but these kinds of news will have some impact on prices and investors may lose the confidence. India also passed similar rule couple of months back for all banks stop dealing with crypto exchanges.
Zero impact! Just as India!
Volume on their biggest exchange:
30 Day Volume: 43.1497 BTC
24 Hour Volume: 0.5803 BTC
this is not a citizen /private business ban.. calm down
this is a standard memo to BANKS. that BANKS(financial institutions) continue to only handle FIAT and not other things like toilet roll beanie baies, or crypto.
banks have rules and regulations to only handle fiat. these rules have been around for decades. way way way before bitcoin was even a thing. so this memo is just a reminder to banks to not directly handle crypto.
this does not mean citizens/private businesses are banned. it jsut means that banks will not let you get toilet roll, teddybears, crypto or baked beans from a bank branch. all a bank branch can offer is FIAT services
it is not a new LAW. its a reminder/memo(circular)
for banks to only offer only fiat services direct
you cannot buy a iphone in a bank branch. but that does not mean you cant buy a iphone/toilet roll/ baked beans.
nor does it mean that private citizens/businesses should have accounts shut down for offering things that a bank cant offer
this is a standard memo to BANKS. that BANKS(financial institutions) continue to only handle FIAT and not other things like toilet roll beanie baies, or crypto.
banks have rules and regulations to only handle fiat. these rules have been around for decades. way way way before bitcoin was even a thing. so this memo is just a reminder to banks to not directly handle crypto.
this does not mean citizens/private businesses are banned. it jsut means that banks will not let you get toilet roll, teddybears, crypto or baked beans from a bank branch. all a bank branch can offer is FIAT services
it is not a new LAW. its a reminder/memo(circular)
for banks to only offer only fiat services direct
you cannot buy a iphone in a bank branch. but that does not mean you cant buy a iphone/toilet roll/ baked beans.
nor does it mean that private citizens/businesses should have accounts shut down for offering things that a bank cant offer
I believe that Zimbabwe true interest is only blockchain and not cryptocurrencies. Their government can still use blockchain technology without getting involve in cryptocurrencies. They also protecting their local financial insitutions to possible fraud and other illegal activities.
Not surprising, another state run by the military has banned bitcoin, because it usurps their control over the population. I would have thought cryptocurrencies would be a good opportunity for hyper-inflative countries to enter the world economy, but it seems most countries except Venezuala are against the idea, and would rather stay in their mess.
may be they are thinking crypto currency will not help too much for their economy and they are try to find another ways to make their economy better. the country that banned crypto whereas their economy situation is continue to deteriorate actually have closed the way to improve their economy, but that is their decision and we must respect it.
Zimbabwe’s central bank issued Circular to Banking Institutions No. 2/2018: Virtual Currencies, effectively banning all crypto activity in the African nation. Businesses dealing in decentralized currencies have 60 days to comply.
Full articles: https://news.bitcoin.com/zimbabwe-bans-all-cryptocurrency-activity-businesses-have-2-month-grace-period/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications
I think with the banning of crypto activity in Zimbabwe, it does not affect much bitcoin and crypto prices. because users and holders of the crypto-coin there are not many. so I do not think it's too worrying Full articles: https://news.bitcoin.com/zimbabwe-bans-all-cryptocurrency-activity-businesses-have-2-month-grace-period/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications
No perceived government ban on cryptocurrency will be successful. All they will manage to do is push it unto the black market which is unregulated and a magnet to attract illegal activity. Please don't ban cryptos
this is not a citizen /private business ban.. calm down
this is a standard memo to BANKS. that BANKS(financial institutions) continue to only handle FIAT and not other things like toilet roll beanie baies, or crypto.
banks have rules and regulations to only handle fiat. these rules have been around for decades. way way way before bitcoin was even a thing. so this memo is just a reminder to banks to not directly handle crypto.
this does not mean citizens/private businesses are banned. it jsut means that banks will not let you get toilet roll, teddybears, crypto or baked beans from a bank branch. all a bank branch can offer is FIAT services
it is not a new LAW. its a reminder/memo(circular)
for banks to only offer only fiat services direct
you cannot buy a iphone in a bank branch. but that does not mean you cant buy a iphone/toilet roll/ baked beans.
nor does it mean that private citizens/businesses should have accounts shut down for offering things that a bank cant offer
this is a standard memo to BANKS. that BANKS(financial institutions) continue to only handle FIAT and not other things like toilet roll beanie baies, or crypto.
banks have rules and regulations to only handle fiat. these rules have been around for decades. way way way before bitcoin was even a thing. so this memo is just a reminder to banks to not directly handle crypto.
this does not mean citizens/private businesses are banned. it jsut means that banks will not let you get toilet roll, teddybears, crypto or baked beans from a bank branch. all a bank branch can offer is FIAT services
it is not a new LAW. its a reminder/memo(circular)
for banks to only offer only fiat services direct
you cannot buy a iphone in a bank branch. but that does not mean you cant buy a iphone/toilet roll/ baked beans.
nor does it mean that private citizens/businesses should have accounts shut down for offering things that a bank cant offer
I kinda understand and don't at the same time, do you mean banks are selling common goods in Zimbabwe? That still sounds like a ban, will people in Zimbabwe be able to buy foreigner stuff with crypto?
When a country bans bitcoin it is a great loss on both sides. The people on that country will miss out on the awesome privileges and features of bitcoin. Also the bitcoin community will lose a lot of potential investors and users. Hope one day they will change their view on bitcoin so we can all enjoy and benefit bitcoin.
Zimbabwe very often appears in the lists of countries that completely prohibit crypto currency. However, it turns out that such a ban is effective only in the banking system, citizens can fully engage in crypto currency, if they do not appeal to banks. The prohibition within the banking system is ineffective.
statements from this country will not affect any bitcoin price or crypto price
sad poor country
sad poor country
Even though it is a small country but these kinds of news will have some impact on prices and investors may lose the confidence. India also passed similar rule couple of months back for all banks stop dealing with crypto exchanges. If all countries start doing this then the trading volume will fall and slowly prices will go down.
However, I still believe in bitcoin and its growth so I'm holding bitcoins and other altcoins for a long term.
First India, then Zimbabwe these governments should let us live in peace.
This shouldn't be a surprise considering that that country has been ravaged by hyperinflation due to a lack of confidence in the nation's currency. Bitcoin is obviously a competitor to what the authorities are issuing.
It's such a shame the government banned the crypto, especially Zimbabwe consider as the third world country that need a lot of ways to earn to prevent poverty, crypto can created a good chance to earn and it can help the country to grow better, it's their lost if they banned crypto
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