Crypto Currencies VS local law policies

[Shenzou]

There is a wide misconception between crypto and blockchain, just because bitcoin cryptocurrency was made on the blockckhain technology does not mean that it defines it, a lot of countries and governments have acknowledged the fact that the blockcchain technology is a key to the future and have already started implementing it and using it for many services, and the only reason why they would ban crypto, is because they are unable to control it and they feel threatened by it taking over the local currency.

[nreal]

Crypto Currencies is facing local law policies many where: Local law can be a barrier for many countries to accelerate the blockchain industry. I read the sentiment of many people where the bitcoin or concurrency is not legally authorized but they are very much excited to use this technology. I think, a global revelation only can bring those countries to be inspired. 

I think you should clearly distinguish the two concepts of blockchain technology and cryptocurrency. In my country, the government encourages the development of new technologies, and blockchain technology is no exception. But cryptocurrencies are a different matter altogether, it's banned from use for payment even though you may own them, and there is no clear regulation on cryptocurrencies.

[AbuBhakar]

There is a wide misconception between crypto and blockchain, just because bitcoin cryptocurrency was made on the blockckhain technology does not mean that it defines it, a lot of countries and governments have acknowledged the fact that the blockcchain technology is a key to the future and have already started implementing it and using it for many services, and the only reason why they would ban crypto, is because they are unable to control it and they feel threatened by it taking over the local currency.

Blockchain should be use and applied in government to make their work transparent and their services efficient. If they don't want to accept crypto then be it but they must acknowledge the good effect blockchain can bring. Thankfully, our country is cool with crypto and we're free to use it.

[White Christmas]

Crypto Currencies is facing local law policies many where: Local law can be a barrier for many countries to accelerate the blockchain industry. I read the sentiment of many people where the bitcoin or concurrency is not legally authorized but they are very much excited to use this technology. I think, a global revelation only can bring those countries to be inspired. 

Many country wants blockchain industry and many country doesn't want it to be their technology but when it terms to the local law if it would be focus on blockchain technology and bitcoin then it would be a problem because there are some country that accepts bitcoin but do not want blockchain technology and the other side was they want blockchain and they don't want bitcoin. If this would be implemented then there would be some restrictions about using blockchain and bitcoin. Because there is some country who are legalizing bitcoin and not legalizing blockchain.

[samuraijin]

Crypto Currencies is facing local law policies many where: Local law can be a barrier for many countries to accelerate the blockchain industry. I read the sentiment of many people where the bitcoin or concurrency is not legally authorized but they are very much excited to use this technology. I think, a global revelation only can bring those countries to be inspired. 

blockchain technology is no problem with that in every country even studying it, usually blockchain products such as bitcoin and other cryptocurrency are against the law which is usually in conflict with the legal currency in the country, so comply with applicable laws also to find safe, but if many mass adoptions of many crypto currency users increase every time, laws and regulations could be changed because the government in that country was built by the community so it goes back to the community to start adopting it

[Boov]

There is a wide misconception between crypto and blockchain, just because bitcoin cryptocurrency was made on the blockckhain technology does not mean that it defines it, a lot of countries and governments have acknowledged the fact that the blockcchain technology is a key to the future and have already started implementing it and using it for many services, and the only reason why they would ban crypto, is because they are unable to control it and they feel threatened by it taking over the local currency.

Indeed, but the thing is government has an eye on cryptocurrency now, i know that someday they will knew that it has a big impact in the economy, it can help the economy too ,in that case they will pass a law regarding to this one and it will be apply in other countries too. It could a part of good news and a bad news to us.

[djcaoile1205]

I believe crypto is the next form of money. With the course of evolution, money loses its material shell and takes on a digital form. People used to pay with furs. Then - with precious stones, gold, silver. Then fiat appeared, and now we have cryptocurrency. We can't prevent evolution and governments as well.

[imstillthebest]

whats many where  ? do you mean to say anywhere  right .  afaik alot of countries now are crypto friendly and that means they dont have a law about restricting crypto  . like for example here on my country i can cash in or cash out  buy goods using crypto and many more  . i dont hear any law that our government did about cryptos   .  on other country i also heard that people are migrating just to be able to use cryptos  . thats a good idea if crypto is not supported by thier law but i still feel bad on others that dont have the ability to travel abroad  .

[mdzahed134]

Yes, government or local law is highly dominated in the cryptocurrency marketplace. And definitely i also think this is a main barrier to legalize cryptocurrency in every single country. In many countries crypto is illegal by rules of government and according to central bank policies. Bitcoin is illegal in my country but here this is very popular marketplace but community can't grow because of illegalization. But i'm looking forward for the upcoming years when btc will be legal.                   

[xiboothrezi]

We need a lot more of these barriers to be broken, and something like a revolution before this adoption is able to happen, otherwise, countries like China and America will never end up adopting these technologies and it's going to be a huge waste of time.

There are a lot of companies that are already taking advantage of this technology, although there hasn't been enough policies and laws that have been established, so these businesses are getting very hard to run (look at the binance example).

It is true. Blockchain technology can be generally accepted and has been adopted by many institutions. Blockchain is a form of technological development that proves the progress of civilization. Conventional systems that were previously less effective can be optimized by upgrading from blockchain. While cryptocurreny is only one of the "applications" on the blockchain, there are many more that can be generated from the blockchain. Cryptocurrency especially bitcoin is full of controversy, so that in certain countries its use is restricted. That is the right of each government to maintain economic sovereignty.

[annylawrence]

Crypto Currencies is facing local law policies many where: Local law can be a barrier for many countries to accelerate the blockchain industry. I read the sentiment of many people where the bitcoin or concurrency is not legally authorized but they are very much excited to use this technology. I think, a global revelation only can bring those countries to be inspired. 

Very strong global awareness that will focus more on the real use of cryptocurrency is really needed for countries that are  against cryptocurrency to be inspired,  and it would have been better if the awareness is coming from the top countries that they are looking up to for standard and better way of government, but unfortunately, not even many of those countries too are having that much faith in cryptocurrency because of its volatility and secondly because of the ways and manners at which some of these dark web agents are using it.

So before we can really see them accept cryptocurrency, they will first of all see the possibility of controlling and curtailing those activities which I think china is already doing, but will really take a very slow process.

[TRONTON]

Crypto Currencies is facing local law policies many where: Local law can be a barrier for many countries to accelerate the blockchain industry. I read the sentiment of many people where the bitcoin or concurrency is not legally authorized but they are very much excited to use this technology. I think, a global revelation only can bring those countries to be inspired. 

Very strong global awareness that will focus more on the real use of cryptocurrency is really needed for countries that are  against cryptocurrency to be inspired,  and it would have been better if the awareness is coming from the top countries that they are looking up to for standard and better way of government, but unfortunately, not even many of those countries too are having that much faith in cryptocurrency because of its volatility and secondly because of the ways and manners at which some of these dark web agents are using it.

So before we can really see them accept cryptocurrency, they will first of all see the possibility of controlling and curtailing those activities which I think china is already doing, but will really take a very slow process.

increasingly thick legal policies do not deter anything to the blockchain industry. this technology is not funded using crypto and does not violate the rules, we need to separate the concentration of the system first.

The things that will be connected with crypto will start from the coins according to their provisions first. what is done by China is to prevent speculation circulating outside the essence, which is wildly linking various crypto with government policies towards the blockchain.

[Lauren Smith]

Crypto Currencies is facing local law policies many where: Local law can be a barrier for many countries to accelerate the blockchain industry. I read the sentiment of many people where the bitcoin or concurrency is not legally authorized but they are very much excited to use this technology. I think, a global revelation only can bring those countries to be inspired. 

Local law is local law. If a country wants to ban it's citizens from using cryptocurrency, then it has every right to. There isn't enough lobbying in the world that could possibly change that. I think that fiat currency took a long while to fully implement into the infrastructure of most countries way back then, and so the same could be said of Blockchain technology and cryptocurrencies. The only way that I can see a strict country changing it's stance on crypto use and adoption is if the united Nations made some sort of decree that Blockchain and crypto is mandatory for switching over from fiat. Then those countries may sing a different tune.

Lol maybe in the shithole you live in. The rest of us live in countries where the governments aren't complete idiots. So you saying th government has every right to tell you what to do and has the right to do so? Are you completely insane? Noone has the right to take your freedom. Oh and btw slavery was also once the law so stick your "law is law" bs up your ass because the nazi officers of ww 2 were also only doing ehat the "law was" You need to think a little.

[Wintersoldier]

There is a wide misconception between crypto and blockchain, just because bitcoin cryptocurrency was made on the blockckhain technology does not mean that it defines it, a lot of countries and governments have acknowledged the fact that the blockcchain technology is a key to the future and have already started implementing it and using it for many services, and the only reason why they would ban crypto, is because they are unable to control it and they feel threatened by it taking over the local currency.

In such a case that the main goal for them is to collect taxes from people and people utilizing cryptocurrencies don't need to worry about taxes. And in that case, government will have their source of tax enough for their government to run. So basically government need their people, and people need their government as well. The main thing that should be solved in this problem is to find the point where both parties intersect and have a good connection that both parties will not lose a deal so utilizing crypto with tax would be an idea.

[Aying]

I believe crypto is the next form of money. With the course of evolution, money loses its material shell and takes on a digital form. People used to pay with furs. Then - with precious stones, gold, silver. Then fiat appeared, and now we have cryptocurrency. We can't prevent evolution and governments as well.

The current situation can not change the upcoming future. we see a potential thing about cryptocurrency and even local law policies will not break that and it can be changed when the time comes. so we should not be worried so much because we know how crypto actually work to help us.

[ragavancoin]

As this is a digital world. Government also should change. In my country cryptocurrency are restricted. Using bitcoin is illegal here. As bitcoin is used in some countries cryptocurrency should be accepted as mode of payment, Bookings, Bank transactions all over the world.

[GideonGono]

As this is a digital world. Government also should change. In my country cryptocurrency are restricted. Using bitcoin is illegal here. As bitcoin is used in some countries cryptocurrency should be accepted as mode of payment, Bookings, Bank transactions all over the world.

Meanwhile in my country, Bitcoin is not supported nor banned bu rather the central bank just released a warning to those people who would like to venture in the cryptoworld. It is said that there are risk and you should be responsible enough to face it since we know that the price is unstable and those who aren’t familiar or expecting a great return in a short period of time with no prior knowledge would surely lose their precious money in the process and then blame Bitcoin and say unpleasant things about it.

[agentx44]

Crypto Currencies is facing local law policies many where: Local law can be a barrier for many countries to accelerate the blockchain industry. I read the sentiment of many people where the bitcoin or concurrency is not legally authorized but they are very much excited to use this technology. I think, a global revelation only can bring those countries to be inspired. 

It is already expected that the government wouldn't straightaway legalize cryptocurrency considering the fact that it is decentralized and no form of government organization can have a power over it. There are plenty of countries already who disapproved crypto because of being too anonymous and also the cases where it was used in the black market or illegal transaction. Let us that sooner or later, a law would passed fairly so that cryptocurrency can be regulated all over the world for everyone's benefit and convenience.

[Murat]

Definitely, the local law will be one of the main barriers for this cryptocurrency flourishment around the whole world, It's expected that every country has a self monetary policy which is not favorable to the blockchain system, Every local money is controlled by each central bank but cryptocurrency and blockchain system is not like that, So this is the fundamental difference between local law and cryptocurrency, I also think that Local currency-related policy would hamper the position of cryptocurrency in the local market.

[senin]

Crypto Currencies is facing local law policies many where: Local law can be a barrier for many countries to accelerate the blockchain industry. I read the sentiment of many people where the bitcoin or concurrency is not legally authorized but they are very much excited to use this technology. I think, a global revelation only can bring those countries to be inspired. 

They think cryptocurrency is a big threat to banks and other financial sector and that's why some government are still not making any regulation about this one aside from banning it. You are lucky if you are in a place where crypto is legal, and in my place you can use it with a regulation especially if you are going to do a legal business but ordinary people can own bitcoin or any other cryptos legally which is more good for all of us. They have to understand this technology, we still need the support of many countries.

Now leading world states do not see a decentralized cryptocurrency as a threat to the existence and stability of the global financial system. This has been noted by them more than once. Therefore, they take virtually no measures to limit or ban it. For the time being, China is doing this for reasons of developing its own economy and up to a dozen third world states, where the authoritarian form of government prevails and where the rights of citizens are not respected.
Of course, states and their governments are not enthusiastic about cryptocurrencies, this is an extra problem for them, however I hope that cryptocurrency will continue to coexist peacefully with national currencies.