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I think bitcoin cannot ruin a country but technology makes the country to convince about it. Already governments are majorly focusing on developing this new technology in order to get more awareness about their daily usages. Because this technology is making more convenient in many ways usages.
Instead Bitcoin gives us an opportunity how to do business on line and how to invest. The reasons in my country forbid are in order to implement the principles of prudence, safeguarding business competition, risk control, and consumer protection. many parties are biting the bitcoin into gambling and the government protects the consumer's right from theft. |
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For this you will need to understand how the Financial Monitoring Service works in your country.Everything depends on jurisdiction in this situation.If you have a good amount (for example in my country 30k$ Equivalent) monitoring service will be interested in this case.I am not sure and I don't know how it works in your country but I would declare it as a service agreement,because you gave consultation for this tokens.
So the best solution is to contact relevant person who knows norms about this situation or search it on your country's official legislative website,you may find a special law wich has legal effect on it.I would like to mention that this is a very complex case and it would be better to hire relevant person.
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Well that has kind of always been the idea. Regulations are for the protection of both the state and its citizens, not just regulation for the sake of regulating.
The catch here is that regulations could go both ways; overly stringent regulations could turn people off on the idea, while proper regulations could legitimize crypto in a way that citizens know that they're engaging in something real, and not some bubble crap that FUDers love saying.
I personally am for regulations for as long as they don't stifle the growth of the technology, and it erases the uncertainty of the government's future steps at the very least.
for me the government should apply the rules / legislation to the bitcoiner that regulates this (the list includes most or all developed countries with free market economies), which ensures the right of consumers, as well as fair trade, competition and accurate information on the bitcoin market . so crypto users have a sense of convenience. |
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The reason behind I see why does other government not stopped the company of bitcojn in their country is because of they see the great potential of bitcoins in the whole industry and has a bright and great future. From this it is a nice thing since it will increase the demand and the bitcoin community.
This is a very good opinion. hopefully the government can cooperate with bitcoin industry in any country. |
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Bitcoin will not be stop by any government it's because of it's anonymity, bitcoin is like a good virus/malware that cannot be appreciated by government. russia , China, and any other country cannot fully erase bitcoin. If internet network exist then bitcoin will never stop existing and insisting to any protocols. Government will just waste their time trying their best to make bitcoin dissolved.
Its really possible for it to be stopped but would really require super quantum computers which we do know that it isn't available as of now and it would still take time for it to be invented which means bitcoin would able to still exist for longer years as of now.Government cant really do nothing on its existence and it cant be stopped this is why they do only impose laws on their vicinity regarding on the prohibition of using it but totally shutting it down it isn't possible. You are wrong. In order to destroy bitcoin simply to strengthen governmental control over Fiat money. This is the weakest link in the chain of bitcoin. Now, there are no conditions to bitcoin existed independently. Every user is compelled to exchange their coins for Fiat. If banks are banned from such transactions then bitcoin will lose popularity. Its possible but this thing would really takes time for sure. Government can really impose those things on having a very very strict when it comes to their own fiat money but come to think off that people can easily convert those coins into another country which don't have much restrictions into crypto which means they can still convert into fiat indirectly without being noticed by its government itself. This is the fact that there were almost government do ban or prohibits bitcoin but there are still numbers who hadn't this kind of decision. The decisive role in this situation is also Human right, Wich must be protected from Govermant.Everyone has constitutional right to make Entrepreneurial activities and dispose his funds as he/she wants and Goverment may get regulations wich will determine balance between criminality and humans constitutional rights.Legislative and executive authorities are obliged to use only relevant Interference,wich will be defensive and this bans are not relevant,because Countries can use more liberal approaches.So,I think the best solution will be global regulations. Principles of intellectual property: 1. Economic Principles In economic principles, intellectual rights derive from the creative activities of the human mind that has benefits and economic value that will benefit the owner of the copyright. 2. The Principle of Justice The principle of justice is a legal protection for the owner of an outcome of the intellectual ability, so has the power in the use of intellectual property rights to his work. |
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Do you think bitcoin can ruin a country?
I dont think so. It depends on how people use it. If people will use it in illegal actions it will surely destroy a country.
The problem is, how do you know it is being used for the right reasons? The government regulatory authority keeps an eye on all transactions to make sure nothing illegal happens. Tax is the backbone of any economy. With bit-coins no one knows whats happening with the wealth, what is being sold and purchased. In a world where everyone is looking to evade taxes, it is such an easy currency to save yourself from taxes. How can we also know that the tax we are paying goes to the right place? Yes the government will not stop to investigate so they can control bitcoin which is not gonna happen. Hey! this is a great technology then why keep on banning, government can regulate this but its not a good thing to ban bitcoin. We need this thing and we should support bitcoin so we can have a great future ahead. I agree with your opinion with the government to legalize bitcoin as digital money which is used as an investment why not because bitcoin is very promising to invest. |
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In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?
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Indonesia is somehow good country for bitcoin businesses, government & bank central don't acknowledge bitcoin, but they let bitcoin-related business running.
They don't really care about bitcoin as long as you also accept fiat as payment method.
Yes it is true with a country with a lot of population and lack of livelihood so the government of Indonesia let bitcoin business walk with ease. although its status is Illegal. the rich get richer and the poor can work. |
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In bitcoin asia is still illegal because one of the largest banks in Asia, DBS, considers that the currency of cryptocurrency bitcoin is a scheme of financial fraud. but in fact Japan became the largest bitcoin market and China will consider the legality in the pass but not in a short time.
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It may be that Karna in the US bitcoin is considered a legitimate taxable asset and impacts the rules governing Internet access change, threatening net neutrality - a principle that allows everyone to use the Internet in the same way.
In the last few weeks in various US-based technology publishing, the news on the laws governing "Net Neutrality" (Internet neutrality) is being discussed. This reporting generally relates to the enactment of a law in the United States that will govern the Net Neutrality proposed by the Federal Communications Commission (FCC), the governing body of telecommunications administration in the United States.
why?
The Federal Communications Commission (FCC) lost the battle with Verizon earlier this year - and with it, the right to stop ISPs weakening other people's traffic is framing new rules to restore Neutrality Neutrality. However, these rules may allow ISPs and content providers to reduce transactions to make other people's traffic faster in payments and transactions. tabi can also be the point where Bitcoin & Cyptocurrency technology is strangled or even slowed, will adversely affect the future of speed and innovation of P2P technology and make this technology intolerable.
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in my country bitcoin is busy talking among teenagers, students, and office workers. many capitalist artists are investing their money by buying bitcoins. that way investors can get multiple benefits. we are proud to be able to spread the benefits and uses of bitcoin in all the people of the world. and currency criteria: bitcoin sanga favored by investors in various countries
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