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Author Topic: Cryptocurrency Scams and Government  (Read 478 times)
posi
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October 10, 2020, 08:32:57 PM
 #81

The government making way to regulate the spread of cryptocurrency as many claims that they have heard about scamming issues. I may think this the best solution to minimize the level of scamming but somehow we don't want also to be controlled by the government as we wanted not to involve in corruption. If the regulation may not take place, we can't also think that we can stop these frauds and scamming issues.
Yes i read some news that other country prohibit bitcoin or any kind of cryptocurrench in their country, i didn't if this crypto threatened their economic groth or something. Here in my country they didn't announced it is scam nor prohibit this cryptocurrency but they didn't encourage people to get engaged in it due to scammers invasion may possible well i guess its because of being decentralised of cryptocurrency.
It could possibly some sort of personal interest that makes them prohibit the wide growth of Bitcoin adoption. Tax is one reason that makes them decided to do against crypto and they like to regulate in order for them to force every crypto holder to pay their individual taxes.

And talking about scams and frauds, they can do nothing to stop them because it needs the participation of everyone and I know that we/they can't simply put action with that easier as it takes. Scammers will find their way and keep unnoticed by the authorities.
I agree with because crypto been legalized in some countries doesnt affect their economy or national currency so if any government claim the scam issue or the fear crypto may negatively impact their economic was the reason they dont support it mean they are against crypto because of it decentralization strategy which their rules are contrary.
Distinctin, the government does not regulated crypto which is the reason why they spread fud but it people dont buy it and the only slightly regulation they can do is to force KYC/AML on some exchange. However, this didnt minimize scam, it only help in the government search for people and if the scammer is good in covering his track even with the KYC he won't be nab.

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