Protectionism and Cryptocurrency: how do protectionist policies influence crypto

[Incodium Coin]

lately, we have witnessed a flurry of measures by some of the leading countries in the world to protect their domestic markets. Tariffs have been imposed, retaliatory measures taken on a wide range of goods and services. While the cryptocurrency market has seemed unaffected till now, one cannot help but wonder if governments will be looking to regulate this aspect of trade more closely. what effects will such measures have on the crypto market.

Please let me know what you think

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[pickledmuffin]

lately, we have witnessed a flurry of measures by some of the leading countries in the world to protect their domestic markets. Tariffs have been imposed, retaliatory measures taken on a wide range of goods and services. While the cryptocurrency market has seemed unaffected till now, one cannot help but wonder if governments will be looking to regulate this aspect of trade more closely. what effects will such measures have on the crypto market.

Please let me know what you think

I think that if tougher measures come down on crypto people will just find another way to exploit this, it's the nature of crypto to be the bleeding edge of tech. The governments will always be playing catchup.

Negative sentiment by large economies may affect the market, but it will inevitably come back, nothing is stopping crypto..

[Incodium Coin]

Definitely, like you said, governments will always be playing catchup. l am hoping it stays this way, because the contribution of cryptocurrency has been immense, and it'll be a shame if the potential of this tech and blockchain as a whole is curtailed by hastily implemented policies.

[kevoh]

China is a classic example of countries implementing protectionist policies to protect their Fiat currency.  The Chinese government is fighting hard to regulate Bitcoin as many Chinese have turned to Bitcoin in a bid to regain control over their own finances. Cryptocurrency (Bitcoin) offers an opportunity of moving money without government's interference and this could affect the fiat currency as people lose confidence in fiat.

[davis196]

The protectionist measures over products such as whiskey and chocolade just can`t affect the crypto markets.The real protectionism will come,when the US government restricts the export of capitals outside of the USA.This will pump the crypto prices to the sky.I want Trump to increase the tariffs over the EU,China and Canada import even more.

[Kakmakr]

China is a classic example of countries implementing protectionist policies to protect their Fiat currency.  The Chinese government is fighting hard to regulate Bitcoin as many Chinese have turned to Bitcoin in a bid to regain control over their own finances. Cryptocurrency (Bitcoin) offers an opportunity of moving money without government's interference and this could affect the fiat currency as people lose confidence in fiat.

China is one of the countries that are fighting to control capital flight and Bitcoin is one of the methods that are being used to circumvent just that. If you live in a oppressive regime and your government have full control over your wealth, then you are trapped within that country.

Bitcoin is borderless and regulation can only target centralized services that adhere to their rules and regulations.   No, government can stop direct bitcoin transfers from one Bitcoin address to another.  

[Hydrogen]

China routinely gets away with stealing copyrighted and patented intellectual property. An example of this is china hacking US defense servers to steal warplane stealth technology which allowed them to develop their own J-20 stealth fighter earlier than they otherwise would have. A good chunk of china's economy revolves around stealing/pirating US owned media and technology as well as industrial processes etc. China has hunted multiple endangered species to the brink of extinction--without receiving much negative media publicity. China's attempts to expand their territory into the pacific could be more dangerous than anything Putin or russia ever attempted in crimea, yet there is no real media coverage on it. China is known for treating animals like dogs inhumanely yet they receive no negative media on that, wheras russia was severely criticized for it during the recent world cup.

The media pushes a "US protectionism" agenda but if we're being honest about it, a better case could be made for china's economy being the most protectionist on earth. China's economy receives far more favortism and privilege than anyone.

I'm not certain what effect tariffs could have on crypto, if nations are focused on economies they might not have the time or energy to bother too much with crypto. That could represent the best possible scenario.

[Idrisu]

On a short term cryptocurrencies is going to reduce in price and we may witness a dump when governments setup a measure to regulate cryptocurrencies. However on a long term we are all going to benefit from it as must of the projects and icos that will becoming out will be those strong one and if there did not meet up to the standard there will not be listed and scam projects will be kick out.

[Twentyonepaylots]

On a short term cryptocurrencies is going to reduce in price and we may witness a dump when governments setup a measure to regulate cryptocurrencies. However on a long term we are all going to benefit from it as must of the projects and icos that will becoming out will be those strong one and if there did not meet up to the standard there will not be listed and scam projects will be kick out.

Protectionist policies influence crypto? This is  the issue on Regulation by the any government agency where crypto currency is visible in the trading market, Country with advanced technology who would want a control on digital transaction on crypto are critical on this aspect. Like, what happened in China, Banned all crypto transaction, but look at their market policies, often time trade non superior quality products, be it on electronic, digital products, computer hardware,etc.etc. i don't see any clear relation of Protectionist policies by any government that affect crypto digital transaction.It is a decentralized system.

[jseverson]

While the cryptocurrency market has seemed unaffected till now, one cannot help but wonder if governments will be looking to regulate this aspect of trade more closely.

Some already have. China, in particular, shut down exchanges for this reason. They didn't want money leaving their country.

I don't think anything of the sort will happen on a global scale anytime soon though. There's much more at stake with the products in question because they affect millions of jobs and livelihoods along with their domestic economy. The crypto trade's impact doesn't really come close. It may even be impossible if we take into account the fact that crypto trading is far harder to regulate by virtue of its decentralized and anonymous/pseudonymus nature.

[Cynooza]

Protectionism is always a negative thing and every society that practices it inevitably suffers economically. The only positive thing I can see for crypto here is a chance that more businesses will start using crypto in order to evade taxes and alleviate the harm from tariffs.

[hatshepsut93]

If protectionism will cause a severe economic crisis, the prices of cryptocurrencies might experience some increase, as people would be using them as a hedge against their crumbling national economy. But is not as simple as "Trump announced new tariffs - Bitcoin to the moon", it would have to take a long time to notice this effect, and some other effects like the usual volatility and market cycles can easily dwarf any boosts gained from protectionism.

[Lampaster]

If protectionism will cause a severe economic crisis, the prices of cryptocurrencies might experience some increase, as people would be using them as a hedge against their crumbling national economy. But is not as simple as "Trump announced new tariffs - Bitcoin to the moon", it would have to take a long time to notice this effect, and some other effects like the usual volatility and market cycles can easily dwarf any boosts gained from protectionism.

Trump is an idiot who is recruited by Putin. All his statements are aimed at the destruction of the world order. It seems to me that all this will end with impeachment but the consequences of trump's destructive actions in the world economy will be felt for a long time. But I'm sure it'll only be about Fiat. Crypto-economy will remain on the sidelines.

[Cult]

If protectionism will cause a severe economic crisis, the prices of cryptocurrencies might experience some increase, as people would be using them as a hedge against their crumbling national economy. But is not as simple as "Trump announced new tariffs - Bitcoin to the moon", it would have to take a long time to notice this effect, and some other effects like the usual volatility and market cycles can easily dwarf any boosts gained from protectionism.

Trump is an idiot who is recruited by Putin. All his statements are aimed at the destruction of the world order. It seems to me that all this will end with impeachment but the consequences of trump's destructive actions in the world economy will be felt for a long time. But I'm sure it'll only be about Fiat. Crypto-economy will remain on the sidelines.

Actually, Trump is quite skeptical regarding fiat money and said multiple times it would be great to return to gold-backed money. Hopefully, he'll take some actions in that direction.

[hatshepsut93]

If protectionism will cause a severe economic crisis, the prices of cryptocurrencies might experience some increase, as people would be using them as a hedge against their crumbling national economy. But is not as simple as "Trump announced new tariffs - Bitcoin to the moon", it would have to take a long time to notice this effect, and some other effects like the usual volatility and market cycles can easily dwarf any boosts gained from protectionism.

Trump is an idiot who is recruited by Putin. All his statements are aimed at the destruction of the world order. It seems to me that all this will end with impeachment but the consequences of trump's destructive actions in the world economy will be felt for a long time. But I'm sure it'll only be about Fiat. Crypto-economy will remain on the sidelines.

Indeed, we haven't had a major economic crisis in this era of cryptocurrencies so we don't know how would they perform, most people think about them as a hedge against fiat, especially due to Bitcoin's fixed supply, but it's quite possible that cryptocurrencies would suffer from the global recession too, as people would be less willing to take risks with investments. I think Bitcoin would have better chances than any other coin, because it's the most secure and reliable coin, and these are good traits to have during crisis.