Crypto Currencies VS local law policies

[BlackboardTrade524]

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. 

[1714671217]

1714671217

[1714671217]

1714671217

[1714671217]

1714671217

[ilovealtcoins]

They saw the potential of Blockchain technology.  At the end of 2017 they witnessed the peak of Bitcoin and they wanted to create their own crypto.  The advantage of Blockchain technology is clearly seen in the strict management, which does not allow payment of 2 times for the same amount.  So for auditors it is an advantage to avoid command space in their financial systems.  Their government has absolute control.  
Bitcoin can be created by mining operations, but national crypto will be created by that country and licensed by that national currency similar to tether, usdc ... They cannot put Bitcoin into the system.  their official monetary system because in this race they have come later and they will not give up on their front.

[Darker45]

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. 

First of all, cryptocurrencies =/= blockchain, or blockchain =/= Bitcoin. There are countries where blockchain is much appreciated even if Bitcoin is not. Even a good number of banks are appreciating the blockchain technology, even using them, but they are not in favor of the likes of Bitcoin and other cryptocurrencies. In my local setting, a few banks are already playing with blockchain but a mere mention of Bitcoin or cryptocurrency when opening an account could be enough for your application to get rejected.

[hello_good_sir]

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. 

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).

[Savemore]

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. 

First of all, cryptocurrencies =/= blockchain, or blockchain =/= Bitcoin. There are countries where blockchain is much appreciated even if Bitcoin is not. Even a good number of banks are appreciating the blockchain technology, even using them, but they are not in favor of the likes of Bitcoin and other cryptocurrencies. In my local setting, a few banks are already playing with blockchain but a mere mention of Bitcoin or cryptocurrency when opening an account could be enough for your application to get rejected.

My country is favor to the blochchain technology but not favor to the ICOs and STOs. There are now many news and issues about scammers and it is the reason why my country doesn't regulate ICOs and STOs.

[gabmen]

There will always be governments who'll be afraid of something they don't fully understand. And we probably have some ways to go before a middle ground can be achieved completely. I think majority of the people still thinks crypto is something that's just used for illegal transactions, black market and scams. This will change in time with more information and proper understanding.

[haufranco]

Right. And I truly believe there should be no local laws at different paths. It must be world-wide regulation guys

[marcous]

But the development of technology is undeniable so that sooner or later they will adopt technology that is indeed useful. Blockchain is a new technology that has many pros and cons but some developed countries have adopted blockchain technology in their financial systems. this proves not all countries think skeptically about blockchain I guess

[Darker45]

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.

First of all, cryptocurrencies =/= blockchain, or blockchain =/= Bitcoin. There are countries where blockchain is much appreciated even if Bitcoin is not. Even a good number of banks are appreciating the blockchain technology, even using them, but they are not in favor of the likes of Bitcoin and other cryptocurrencies. In my local setting, a few banks are already playing with blockchain but a mere mention of Bitcoin or cryptocurrency when opening an account could be enough for your application to get rejected.

My country is favor to the blochchain technology but not favor to the ICOs and STOs. There are now many news and issues about scammers and it is the reason why my country doesn't regulate ICOs and STOs.

This is also happening in my country. This is the primary reason why the impression developed among ordinary citizens and perhaps even among those who are in the authorities is that cryptocurrency or Bitcoin is some kind of a scheme not much unlike Ponzi; because it is being rampantly used by these illegal schemes. The laws therefore, since they are primarily reflective of these people's very rudimentary, even distorted, understanding of cryptocurrency, are in danger of being against cryptocurrency.

Local laws should be based on the real account or definition of cryptocurrency. Lobbyists should also encourage lawmakers to conduct thorough hearings in which crypto experts are invited to give them detailed briefing about what crypto truly is as well as their true potentials. I remember watching a Youtube video in which crypto enthusiast Andreas Antonopoulos was invited by a Canadian legislative committee to shed light on Bitcoin. This is how it should be done in local countries before crafting crypto-related laws.

[hello_good_sir]

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. 

First of all, cryptocurrencies =/= blockchain, or blockchain =/= Bitcoin. There are countries where blockchain is much appreciated even if Bitcoin is not. Even a good number of banks are appreciating the blockchain technology, even using them, but they are not in favor of the likes of Bitcoin and other cryptocurrencies. In my local setting, a few banks are already playing with blockchain but a mere mention of Bitcoin or cryptocurrency when opening an account could be enough for your application to get rejected.

My country is favor to the blochchain technology but not favor to the ICOs and STOs. There are now many news and issues about scammers and it is the reason why my country doesn't regulate ICOs and STOs.

Yep - that's actually pretty true with a large amount of these countries, not a lot of countries support crowdfunding in the crypto-space, and there are definitely going to be a lot of issues with those sort of businesses.

The real issue is though, does your control support decentralization? Almost every country in the world supports blockchain technology, but a lot of them don't like the decentralized aspects of it (for example BTC), I want countries to allow us to have more freedom with our money.

[Kyraishi]

Firstly keep in mind, that ICOs/IEOs/IPOs are just a part of crypto-currency, and I respect the recent laws that have been implemented in a lot of countries (even US with their issues with securities) and I think regulating and controlling the crowdfunding scene makes the free money grab, that ICOs used to be a couple years ago, not possible anymore.

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. 

Correct - local laws are quite restrictive, especially when it comes to the mainstream adoption of bitcoin, because most governments don't want their citizens to control and have a currency that is almost untraceable and pretty safe to use for illegal stuff.

[bounceback]

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. 

for now of course the government in my country does not prohibit crypto and blockchain technology even now bitcoin dominates in my country, honestly I think they are inaugurating a technology that is very popular today because they want to advance their country with blockchain technology to make it easier for the public to transact with each other in a fully decentralized system.

[samcrypto]

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.

[AmoreJaz]

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.

or better yet, the government is not making any regulation because they don't know the nature of crypto or bitcoin. they don't fully understand the structure and concept of it. so how can they regulate for something they are still ignorant of?
they need to seriously get involved or deal with crypto or blockchain to fully understand its ecosystem. otherwise, they will regulate the use of crypto for the sake of regulating it but not understanding its technology. with such action, they might implement rules that are not appropriate or redundant.

[Boov]

for now of course the government in my country does not prohibit crypto and blockchain technology even now bitcoin dominates in my country, honestly I think they are inaugurating a technology that is very popular today because they want to advance their country with blockchain technology to make it easier for the public to transact with each other in a fully decentralized system.

Local low policies here are not yet affected to bitcoin or it has no bitcoin related law in my country now , if law will be issued in this coutry I think that is the time that government will start to regulize it too. It is too bad for us ,the anonymity in every transactions will be made as well as there will be more taxes will be put on.

[Zeke_23]

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.

or better yet, the government is not making any regulation because they don't know the nature of crypto or bitcoin. they don't fully understand the structure and concept of it. so how can they regulate for something they are still ignorant of?
they need to seriously get involved or deal with crypto or blockchain to fully understand its ecosystem. otherwise, they will regulate the use of crypto for the sake of regulating it but not understanding its technology. with such action, they might implement rules that are not appropriate or redundant.

Maybe this is the reason in some countries. But as for the country where I reside, crypto has actually become the topic in the news and social media talks before but the government remains neutral up until today. This discussion has been brought their attention up to the president and they don't give any attention as they want to focus on other important things.
The government chose not to involve in crypto due to a lot of major issues in the country that are much important to finish than to discuss it.

[bitvalak]

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. 

Because they see that bitcoin can be like that because of the blockchain. Therefore they adopted the blockchain and then closed the bitcoin space so that bitcoin interest was low and turned to the coins they made.
I am not at all surprised by such government rules, because basically they want to use the blockchain as a more complex centralization.

[chaoscoinz]

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.

[hugeblack]

Volatility is what prevents the adoption of this technology in markets and places more than daily regulations.
These regulations always play an important role in regulating central transactions and platforms, so it may be difficult to buy these currencies but will not make them impossible.


Inflation and centralization are what give paper money weaknesses, but volatility makes them stronger than Bitcoin.

[kro55]

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. 

First of all, cryptocurrencies =/= blockchain, or blockchain =/= Bitcoin. There are countries where blockchain is much appreciated even if Bitcoin is not. Even a good number of banks are appreciating the blockchain technology, even using them, but they are not in favor of the likes of Bitcoin and other cryptocurrencies. In my local setting, a few banks are already playing with blockchain but a mere mention of Bitcoin or cryptocurrency when opening an account could be enough for your application to get rejected.

My country is favor to the blochchain technology but not favor to the ICOs and STOs. There are now many news and issues about scammers and it is the reason why my country doesn't regulate ICOs and STOs.

Very recently we saw Chinese president statement in which he emphasised use of blockchain and China is in way showing any softness towards cryptocurrency adoption.