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Author Topic: G20 should end Positive For Crypto  (Read 44 times)
Mpamaegbu
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March 19, 2018, 08:13:16 AM
 #1

With the G20 economic summit underway today and tomorrow in Argentina, many are likely to conclude with the smuggled out snippet below that the meeting will end in favour of the crypto community. Foretelling the outcome, Bitcoin has dramatically bounced back to $8300+ this morning after its below $7,500 low last night. May be you will agree ir disagree with the positions below.

 USA
- ICO Prohibited, Money Laundering & Illegal Act Regulations, Cryptographic Exchange Tradition License Scheme

 Japan
- taxation, payment instrument recognition

 Germany
- It is a legitimate financial instrument and may be taxable, but requires additional licenses and permits.

 England
- No government regulation

 France
- warnings about regulatory readiness (not disclosed in detail), 'risk of speculation and manipulation’

 Italy
- Some central banks consider issuing cryptocurrencies

 Canada
- Taxation

 China
- Coin trading prohibited, ICO prohibited

 India
- Not accepted as a means of payment, regulation of money laundering and illegal activities

 Brazil
- Financial assets not recognized, direct investment prohibited

South Korea
- No anonymous account transactions (real name system), tax preparation in progress

 Australia
- No government regulation

 Russia
- Cryptocurrencies regulation legislation, ICO prohibition, while allowing legislation, can run a legitimate exchange

 Mexico
- Preparing taxation

 Indonesia
- No government regulation, prohibited from banks

 Turkey
- No government regulation

 Saudi Arabia
- Some regulations will be introduced but not prohibited

 Argentina
- No government regulation

 Republic of South Africa
- No government regulation

 European Union
- Agreed to more stringent rules to prevent money laundering and terrorist financing in Bitcoin and other virtual currency exchanges


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1540362793
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metenjean
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March 19, 2018, 08:39:22 AM
 #2

Do you have any logical reason about why it should end positive for crypto? Because the meeting will be started today and as the list said that most of them are banning ICOs and consider bitcoin as a money laundering tools, some will apply tax regulations but it don't even count half of the list. And this kind of topic has already been created here  https://bitcointalk.org/index.php?topic=3158454.0


gowron24
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March 19, 2018, 08:46:38 AM
 #3

Thanks for the perspective. I honestly did not make a connectio between the future of crypto and the ensuing G20 summit. Silly me, and cudos to you for sparking that. But I see the argument as to the positive outcomes also as a bit wishful. Perhaps it will not turn out so well. Stay with the privacy coins, I would say...
YuiAckerman
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March 19, 2018, 08:53:56 AM
 #4

I think the G20 meeting is there will be a bad and good news for crpyto, but if its target the big country that are legalize block chain just like USA, China, India, Brazil and Russia many of them are investors but some regulation about the crypto they are  against so there is a possibilities that it will down. But as the others country they ignore about crypto or block chain this will be good news for us, but it's hard to move up if those big countries are against about it. So it sad to say that this will be a big problem in the crypto-world, hope there will be a chance that they can change and understand how the block chain is really good to community and economy.

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jseverson
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March 19, 2018, 09:15:13 AM
 #5

No one really foresaw that the outcome would be positive. FSB Chairman Mark Carney simply stated his position that Crypto doesn't pose any risks to global financial stability, and how its market cap at its peak is like less than 1% of the world's GDP. This is the likely reason behind the small surge.

But yeah, I'm pretty optimistic that the summit will yield neutral, if not positive resolutions from the participants.

fiulpro
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March 19, 2018, 09:15:34 AM
 #6

We cannot be sure they are all talking about regulations not allowing Bitcoins in the economy and most of the countries are thinking of banning ICO'S they aren't even thinking of regulating them ... So we can say that the deal won't be that good for cryptos ...we can know that only after everything's over.
But most probably it will be negative...
Mpamaegbu
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March 19, 2018, 09:38:58 AM
 #7

And this kind of topic has already been created here  https://bitcointalk.org/index.php?topic=3158454.0
Oops! My bad. I didn't see the other thread eventhough I searched the forums before putting out mine. Yes, quickly I will lock up this thread now. Sorry about that.


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