When the government forbids cryptocurrency

[andieoke]

The government forbids Cryptocurrency, certainly has a reason for it. If the government does not give strong rules, or does not impose criminal sanctions on people in Cryptocurrency, then you can continue playing here. but if there are strong rules, and criminal sanctions, it seems like you have to stop them from being arrested and put in jail.

[d0flaming0]

they have their own specific reason why they forbid using crypto, while maybe i don't know if they have their own reason whether personal or not, or is it true that they are taking advantage and that is what we don't really know actually. sooner or later they will impose their official announcement or rules to what will it be, depends on what they have decided too.

[t2yax]

I think, government wants to forbid bitcoin due to its economic effect. We see how investors invest to cryptocurrency. We shall not be commited to any government law, we need to seek to not to make the government control crpyptocurrency. There will be pros and cons, government can make a law for which they can make corruption over cryptocurrency.

[Jedzkie050617]

When the government forbids cryptocurrency

In my country, the government is gradually apply internet and cryptocurrency control decrees. Previously, they banned direct Bitcoin transactions. Currently, they are banning crypto-related bank transfers. And of course, ICOS is also gradually banned .
Initially, they said they would not ban crypto and bitcoin. But now their actions show that they do not want crypto to exist.
Is their purpose not to secure crypto investors? They are trying to make it their own
They see huge profits being lost for themselves
And when the internet management program took place in my country, maybe I could not come up here to share my views like this. So sad

Maybe your government is trying to monopolize the flow of money in your country. It would be hard to guess whether they are making their own crypto or not but one thing I am sure of, they don't want their citizens to profit from an unregulated way.

Exactly they are trying to centralized everything and that's include currency and they want to have one currency present in your country. It very hard if they banned blockchain market wherein we have our different currency. Hopefully everything will be fine soon.

[Nahl]

many countries have reason to forbid the use of cryptocurrencies because they want to protect their people from scam ICO or similar of it but in my opinion besides this thing they should be considering other factors that cryptocurrencies can provide opportunities to get money which mean this is will slightly solved unemployment on the particular countries but very unfortunate the countries seems does not considering this factor and they only look cryptocurrencies from bad side

[coinplus]

When the government forbids cryptocurrency

In my country, the government is gradually apply internet and cryptocurrency control decrees. Previously, they banned direct Bitcoin transactions. Currently, they are banning crypto-related bank transfers. And of course, ICOS is also gradually banned .
Initially, they said they would not ban crypto and bitcoin. But now their actions show that they do not want crypto to exist.
Is their purpose not to secure crypto investors? They are trying to make it their own
They see huge profits being lost for themselves
And when the internet management program took place in my country, maybe I could not come up here to share my views like this. So sad

What a pity for a country that is solely trying to go against evolution rather than embracing it and this is simply the reason why some countries eventually out of their own greed or fear of change, end up lagging behind at the end. It would have been interesting if you had mention the country you are referring to, but in this case, I guess this is going to be a huge one on the citizens.

Regarding the control of internet however, I really do not see how this is going to come to play unless they want to totally scrap or limit it totally which to me sounds more like an autocratic government kind of thing.

[el kaka22]

With this inconsistent decision, I assume that they have a plan to make their own crypto coins, which will surely be firmly supported by their peers (government). Unfortunately, you did not mention your country name.

Probably, and would want to make sure they instill it on the citizens. How wonder how a country that is solely about its own interest develop when all the government cares about is how to just keep stashing and looting in every possible means and would likely not want to even give the citizens any possible power even though they still get to benefit from it.

Would have been better if OP stated such a country, but I do not see how this should affect anybody who is smart enough. A single country should not limit anyone from being a part of the decentralized space, and the worst I will rather do is migrate out of the shit hole.

[jaocoincrypto18]

They can ban cryptocurrencies involvement with the real world but they cannot stop your use of it. There is no way they can control your use of it for transactions etc. It sucks they're doing this but there's also a limitation on how much they can do.

It is not that easy that they shall insist to join Bitcoin investment even if their country will declare ban on Bitcoin investment. During the ban there is no local exchanges that will exist so how will they convert their Bitcoin to fiat? and also internet provider will be urge to block all crypto currencies site and exchanges so how can they do transactions? and most of all if they will be caught then of course they will go to jail. Except if they will leave their country then their Bitcoin affiliation will going to continue.

[spongegar]

I think there's no other way to it but to actually move out of that country or sell your shares. But then again, you will have to consider when crypto currency becomes the only only currency in the world your country will have to allow ot again. But it would take some time to be so. My advise is, figure out how you will still have crypto currency transactions.

[Direwolve735]

Governments of countries resort to banning cryptocurrency when they are not in a position to control them. Bitcoin and other virtual currencies are especially worrisome to the authorities, because such payments are extremely difficult to track - transactions are negotiated between buyers and sellers who may not even know each other's names. The anonymity of the bitcoin system makes it a convenient tool for money laundering and the financing of criminal activities. To avoid this, it is easier for the authorities to forbid crypto-currencies.

[Kim Domingo]

When the government forbids cryptocurrency

In my country, the government is gradually apply internet and cryptocurrency control decrees. Previously, they banned direct Bitcoin transactions. Currently, they are banning crypto-related bank transfers. And of course, ICOS is also gradually banned .
Initially, they said they would not ban crypto and bitcoin. But now their actions show that they do not want crypto to exist.
Is their purpose not to secure crypto investors? They are trying to make it their own
They see huge profits being lost for themselves
And when the internet management program took place in my country, maybe I could not come up here to share my views like this. So sad

Maybe that thing will come into reality once the government sees that there is a big negative impact on the society for using Bitcoin and other types of existing cryptocurrency into the human behavior and thinking of the people beyond using crypto. But as for now that small and few issues are just sprouting in the society, it is still easy to be controlled by the government but once this small issues turns out into a larger problem, this will be the time that the government will take an initiation to forbid cryptocurrency usage just to stop the negative effects brought by cryptocurrency usage.

[hajimasan]

When the government forbids cryptocurrency

In my country, the government is gradually apply internet and cryptocurrency control decrees. Previously, they banned direct Bitcoin transactions. Currently, they are banning crypto-related bank transfers. And of course, ICOS is also gradually banned .
Initially, they said they would not ban crypto and bitcoin. But now their actions show that they do not want crypto to exist.
Is their purpose not to secure crypto investors? They are trying to make it their own
They see huge profits being lost for themselves
And when the internet management program took place in my country, maybe I could not come up here to share my views like this. So sad

In actual the same thing happening in mine country also , where I found that government was not clear at that time in the past , But now here in mine country also the government have banned the transaction through the banking sector which are using exchange direct account .
But still here options are available for us to make P2P transaction where we can make deals in every payment option .
May be they can ban bitcoin or another cryptourrency but here I am sure that they will not ban it completely , may be they will make rules like that will give lots of force over the work that we will do  in the cryptocurrency market , but still we will be able to do trading like things and that types of the rules will force us to quote from this field .
Hope happen something better , otherwise I will need to wonder here and there to get a job .

[ekalak manjeng]

I will remain active in crypto because I am not a corrupt person who always eats people's money, but I am here working to earn income. If we are prohibited then give us a decent job for us and everyone.

[joebrook]

Forbidding cryptocurrency is like stopping the advancement of technology. And if your country is prohibiting the trade or use of crypto then you will be left out in the technology race. That's what i call an overprotective government.

The thing is that the government cannot totally ban bitcoins in their respective countries . Because they will have to shut down the whole internet to be able to do that and they are not going to go to such extreme lengths just to ban the cryptocurrency.

[pernah ada]

I as a good citizen will obey the ban if it really can harm the government. But if it's just their dirty way, I will break and do illegal activities.

[0t3p0t]

When the government forbids cryptocurrency

In my country, the government is gradually apply internet and cryptocurrency control decrees. Previously, they banned direct Bitcoin transactions. Currently, they are banning crypto-related bank transfers. And of course, ICOS is also gradually banned .
Initially, they said they would not ban crypto and bitcoin. But now their actions show that they do not want crypto to exist.
Is their purpose not to secure crypto investors? They are trying to make it their own
They see huge profits being lost for themselves
And when the internet management program took place in my country, maybe I could not come up here to share my views like this. So sad

That was really not a good news to us investors, enthusiasts and to the entire community where we need to freely interact and use Bitcoin and other cryptocurrencies without even confronted by law enforcers thats sad because it happened on your country. They forbid the use of cryptocurrency maybe because of they don't want their local fiat currency to be dominated or they are pretty serious about the peoples security or cryptos can be used in illegal activities by lawless elements. Here in my country we're doing well with crypto's and I hope the government will not make any move to restrict or ban cryptocurrency.

[TheAndy500]

Some goverments could only see crypto as a bad thing, maybe in future when most of countries will allow to use crypto as normal money your goverment will make some possitives moves about situation in your country, who knows, you must think positive.

[bhordz357]

You did not say what country you are talking about but such country is suppose to look at the positive side to cryptocurrency and the fact that so many countries have started being positive on it.

Maybe some government try to ban it due to taxes provision because government will not allow business do running with tax. But for some progressive country they allow cryptocurrency  to run because they rich country already and they have good system.

[okala]

Governments are forbidden bitcoin now because of the way our media are handling some issues relating to bitcoin and others cryptocurrencies. But I think we should not underestimate the power of governments to control the world affairs and if they ban bitcoin I think the common man on the streets are going to find very difficult to used it.

[Anhmai]

If you follow Korean you will see how much they suffered when the inflation occurred with Bitcoin. So they forbid it