France declares war on the cryptocurrencies

[Cloverfield]

I must say, these are interesting and exciting times. More and more countries talking about regulations, scaring of the majority of new investors to pinch in into the space. It looks to me they're intentionally holding people back to jump into the revolution, which in my opinion is inevitable. Banks want to prevent this movement of new money, because it will eventually affect the banks. At first it wasn't that big of a deal, but the market has grown exponentially last months/years and now it is getting scary for them. Where there is money there are regulations. So it is of no surprise that governments want to regulate it at some point. Taxes are directly/indirectly being evaded and they probably think they are missing out. So they want to get an insight of everybody's portfolio sooner or later. If this will actually happen, who knows. In my looks of it, it is unstoppable and the blockchain technology will prevale. Who will be the winners, losers, when or how no one can really tell. But stopping cryptocurrencies as a whole will only be possible if you disconnect the internet.... 

 

[1715369179]

1715369179

[Captain_Planet]

Slowly and slowly whole world is becoming against crypto land, I am still hopeful governments will make room for the crypto world.

[junoreactor]

Not surprising, but my opinion is that all these governments are afraid because bitcoin is more anonymous, one would say "so-called anonymous" because we know it is not really anonymous, but still they want to control and make sure to know all users are doing their thing with their real name. So all exchange platforms would need to share the details of their customers. It is impossible to do, but this what governments want now.
And as for France, they use the anti-terrorism excuse to find a way to tax all benefits made with Bitcoin and other digital money. France has reached a point where they desperately need the money to finance their massive public expenses. Their debt is huge and I am not sure chasing Bitcoin holders will help

[whirlcoin]

I read on news that

"The French finance minister has called for tough new regulations on cryptocurrencies to stop them being used to dodge tax or finance terrorism and other crimes"
Source ( http://metro.co.uk/2018/01/15/france-declares-war-cryptocurrencies-bitcoin-ethereum-litecoin-ripple-tough-new-stance-lead-ban-7231339/?ito=cbshare)

Is this having any impact on the downtrend nature of the whole Crypto Currency market today?
Are some investors having second thought about crypto and selling them?

Would like to get some idea about this.

I think they are just regulating the cryotocurrency usage on their country so it is best for the future of their country because regulation can stop the usage of cryotocurrency from the Illegal people and criminals.And these kind of strategy will be implemented by all the governments sooner or later.So it have benefit for the government too so they are not against cryotocurrency they just want some benefit from the cryotocurrency users.

[fat buddah]

Those are fake news, it has been already clarified and they are exactly the same as what happened on Korea, and China, they didn't do anything, but a lot of people started to say that everything was over.. and it was just a huge fud.

this could be the cause of today's trading chart blues almost all the coins down all the price, but I am sure all this is only temporary, after no more news like this again then all will be back mending again

[Enjorlas]

French government always as stupid when it comes to technology, they did the same with the Internet...

[junoreactor]

Those are fake news, it has been already clarified and they are exactly the same as what happened on Korea, and China, they didn't do anything, but a lot of people started to say that everything was over.. and it was just a huge fud.

this could be the cause of today's trading chart blues almost all the coins down all the price, but I am sure all this is only temporary, after no more news like this again then all will be back mending again

No fake news, this is real. They will be pushing in April during the summit in Buenos Aires. Real question is: what do you want to do exactly? Because for sure no one is talking about a ban, but simply more regulations and more control.

[newwest]

Slowly and slowly whole world is becoming against crypto land, I am still hopeful governments will make room for the crypto world.

Overall scenario if we consider things are not moving right for the cypto lovers. More and more countries are now getting stricter either by imposing strict laws or directly by imposing the ban on cypto currencies in the country. Will need to wait and see how does other countries react to this decision and will this impact in their decision regarding framing the laws in their country.

[frowsiter]

I'm not sure if they have declared the war against the whole crypto community but whatever I understand is they just want to be safe in their own country. It's obvious that they want to regulate the country in proper manner and don't want to get disturbed with any outsider intruder (Here : Crypto).

However, I don't think that this news and the current downfall has got any relation really. The news is just into he air and they have not done anything practically yet. So must not get panicked about it either. In the long run such news will keep coming and however crypto is not going to stop at all. It's better that we focus on how to improve Crypto so that in the future we don't see any trouble from many countries which could be worrying thing later on.

[armansolis593]

-snip-
Is this having any impact on the downtrend nature of the whole Crypto Currency market today?

We all know that bitcoin is being used for bad deeds long ago, silkroad was one of the few site that deal with terrorist and drug addict and gun smugglers. I dont think that it made an impact since it only regulates and not totally ban the crypto currency.

Are some investors having second thought about crypto and selling them?

If they are really scared of the news they will have second thought about crypto and might sell their coins, but they will also think that they might miss the chance of getting profit in the future if they would sell their coins today.

[kwabeedat]

one thing I know is that there is always a threshold to everything. They'll keep on fighting and fighting crypto but they'll be fed up sometime and crypto will be back on its feet. Same was done some few years ago when BTC started. By the way it's good it's a regulation and not a ban(that's more threatening).

[justspare]

one thing I know is that there is always a threshold to everything. They'll keep on fighting and fighting crypto but they'll be fed up sometime and crypto will be back on its feet. Same was done some few years ago when BTC started. By the way it's good it's a regulation and not a ban(that's more threatening).

Uhm… I’m really getting confused and afraid in a way. Why are they fighting against cryptocurrencies? Every year, I hear story of a new government kicking against Bitcoin , now it’s France, and China is also trying to stop all Bitcoin miners and mining activities in their country. I hope this doesn’t turn out pretty bad.

[uchiha_madara]

french has said war on Cryptocurrency, I hope my country does not follow in the footsteps of French because I just engaged in the world of cryptocurrency 

[Brunus]

Well, it seems that banks and governments start to realize how dangerous bitcoin is for their power.
As someone stated, bitcoin will do for banks what e-mail did for post offices: it make them useless.

So, we can expect a strong reaction at every level, as we can already see.
But at the end, they can't stop bitcoin, they can only slow down its development.

[Crypto Vitriol]

Well, it seems that banks and governments start to realize how dangerous bitcoin is for their power.
As someone stated, bitcoin will do for banks what e-mail did for post offices: it make them useless.

So, we can expect a strong reaction at every level, as we can already see.
But at the end, they can't stop bitcoin, they can only slow down its development.

I agree, the power is reacting

https://www.financemagnates.com/cryptocurrency/news/indian-banks-suspending-accounts-multiple-bitcoin-exchanges/

https://www.financemagnates.com/cryptocurrency/news/clock-ticking-cryptos-china-central-bank-spells-latest-crackdown/

but I'm not so sure bitcoin will win.

[FairWin.Tech]

France has joined the ranks of the enemies of progress.

[Andrej Peiboski]

Apparently, it seems that the war has finally been declared: there are a lot of news about governments trying to forbid the use of cryptocurrency, visa doesn't accept bitcoin, India and other countries declared they will stop bank account suspected of crypto activity.

This sound alarming, but I suspect they are only trying to create panic just to make cheap cryptoshopping and huge profits.

Due to the no-border nature of bitcoin, there is no way in which a country alone could stop anything: only a global agreemen between governments (or the shut down of the internet...) .

So, all these bombastic declarations of the last days seem to me just "Much ado about nothing", as Shakespeare said.

[vv181]

The news has effect on only French traders. The whales and global traders will not give a shit to this news.

The Bitcoin use in the French is still minority, it will not affect so much about the market price but  it will affect the Bitcoin 'ecosystem'.

But the old world wants to start a war against crypto money. The banks and politics have been giving speeches about this war since 2 months. 2018 will be the financial war year between crypto world and the real world.

The central bank has known the threat, and they think out a way to getting it over. I believe nowadays goverment make a strict regulations for cryptocurrencies and even banning them.

[Skuylaruy]

It's a war-declaration for using cyrpto-currencies for financing terrorism. Not for using cyrptos for trading or investing. And that is completly normal.
There were lots of news like this.

  Yes i agree it can be use for financing terorism  and other  illegal activities .people  with different intentions can take
  Advantage of the situation.i hope the government can find the way to solve it..!n

[ucingucingan]

Whether the news is true or only false news is done by unscrupulous people to be able to buy bitcoin, actually similar news already exists and often appears, it aims to lower the price of a commodity and they make large purchases of magnitude when the price weakens.