IMF Fears Cryptocurrencies May Circumvent Capital Controls

[commandrix]

The short version is that cryptocurrencies are making them nervous because they can't easily control it. http://www.financemagnates.com/cryptocurrency/news/imf-fears-cryptocurrencies-may-circumvent-capital-controls/

[Kakmakr]

why would you want to control free men?

They do not want to control free men, they want to control their money. The power and the manipulation of currencies are inherent to any government. Some do this to keep people in power and others do it to stimulate growth. If your economic survival as a country are reliant on a stronger currency, you will take measures to protect it.

A lot of people think crypto currencies will threaten these control measures, but if it is properly regulated, it might even improve these controls. <Every transaction can be traced, if the users of these technologies are identified>   

[SFR10]

It seems to me that their trying to bring up issues of laundering into an excuse so they could damage the image of cryptocurrencies and make it look bad so in the end they will still have some controls over it if ever given a chance even though it has been proven on numerous articles that non of cryptocurrencies was used into funding any terrorism activity.

[thejaytiesto]

why would you want to control free men?

To tax them to oblivion so they can finance illegal wars and high end drugs and hookers of course. Did you expect that they are going to sit back and see how people starts using Bitcoin when they get rid of cash? Wake up people.. and support Core so we can defend against this situation in the future. Forget about the Classic crap and the other altcoins, they are on their side.

[elizabethqueen]

The short version is that cryptocurrencies are making them nervous because they can't easily control it. http://www.financemagnates.com/cryptocurrency/news/imf-fears-cryptocurrencies-may-circumvent-capital-controls/

yes they should be really nervous and fear about this,cryptocurrency really have a good chance to take control money and economic system on country or goverment without regulation.

[NorrisK]

The short version is that cryptocurrencies are making them nervous because they can't easily control it. http://www.financemagnates.com/cryptocurrency/news/imf-fears-cryptocurrencies-may-circumvent-capital-controls/

yes they should be really nervous and fear about this,cryptocurrency really have a good chance to take control money and economic system on country or goverment without regulation.

I'm looking forward to all the people getting fines and taxed 10 years from now for not declaring their cryptocurrencies..

May look attractive now, but the governments will find a way to tax you, best to just declare it while you are at it.

[n2004al]

The short version is that cryptocurrencies are making them nervous because they can't easily control it. http://www.financemagnates.com/cryptocurrency/news/imf-fears-cryptocurrencies-may-circumvent-capital-controls/

It is not at all new this fear. This fear is the main reason of its ignoring for a long time or even in or days from several countries (which are at all few but almost 3/4 of all the countries of the world). This fear make some countries (between those even important ones like Russia) to ban it. This make that are only very few of those who has regulated it in some way, have made this action totally independently and not in the same way or with the same rules (or almost the same). It is only one product. Must be regulated almost in the same way. But everyone has made its regulation in order to fit with their situation and having in mind to control it in the best way possible. And at the end this make that almost all of those has regulated and legalized it don't giving the real name and the (legal) status that this product must have: currency. Even in the cases when is used this name or the other one (money) its status it is not never equal with the national legal currency (money) of that given country.

[Wapinter]

Money is a tool to control the entire mankind,Some people want to control money so that they can control nations,societies and all humans.Bitcoin,if become mainstream,will take away this tool from their hand

[Cuidler]

why would you want to control free men?

Its all about keeping power. What other reason to keep such monopoly as fiat - if your not free to choose what currency you want to choose to pay others with, your not trully free anyway even today with the laws requring you to accept government issued fiat.

[Lauda]

The short version is that cryptocurrencies are making them nervous because they can't easily control it.

Can't easily? You can't control them at all. This is especially true if you use Bitcoin in a combination with an anonymous coin such as Monero.

why would you want to control free men?

They have been doing this for hundreds of years, why would they stop now?

Money is a tool to control the entire mankind

Money is power. This is why the rich people are just sitting on their pile of money and not doing anything rational with it.

[European Central Bank]

Well, they're right. That's kinda the whole point is it not? What they can do is put even more controls on the exchanges and buying services but maybe one day there won't be so much of a need for them as people stay in bitcoin. Then we'll see what those guys have up their sleeves.