Crypto Currencies VS local law policies

[Eclipse26]

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. 

Definitely that governments would regulate cryptocurrency if it is being adopted in their country. Almost everything is under the regulation of the government. Taxes, laws, and policies are everywhere that we must obey in a country we are living in. The more the government sees the growth of cryptocurrency population locally, they'll look over it and will eventually try to control and limit people using it. Regardless if they see it as a threat or not, if they know something inappropriate can happen there like illegal transactions, they'll make an action to prevent it.

[Ann1989]

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. 

Governments will bring in regulations. They are accepting of blockchain but are wary of crypto.

[Wintersoldier]

If we are to think is there a barrier between cryptocurrencies and the government or local policies? Well, for me, not really. If both of the parties will understand each other, then we could say the barrier could be broken. There isn't really something for them to fight for, because if government will see the light from cryptocurrencies despite of its sole characteristic of being independent to third parties, then they could regulate the cryptocurrencies. More of, to control local exchange and to generate taxes from it that will be beneficial mainly for their people.

[Slow death]

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.

All countries really enjoy blockchain technology, just see that every day news channels keep talking about how many countries like blockchain technology, a great example:

china hainan free trade zone pledges 140m in new blockchain support

But china doesn't like bitcoin

I think, a global revelation only can bring those countries to be inspired.

what do you mean by "revelation"?

[mlsbd]

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.

YES! the government can change to legalize cryptocurrency. I'm very proud because in my country cryptocurrency is legal and as a payment it's used in  many sectors such bank,airways,online shop,travel and i can used to pay for electricity bill. Crypto regulated countries got a lot of advantages.

[karanggatak]

yes most countries definitely support and want to implement blockchain technology in their countries. because blockchain technology is very revolutionary, effective and efficient. but most countries in the world support blockchain but prohibit crypto. I think this is a natural thing because all countries already have a national currency they reject crypo because they are afraid that if they legalize crypto, the sovereignty of their national currency could be threatened. but I am optimistic that when the blockchain technology has been adopted and is growing rapidly and is aware of the features of crypto, they will also accept crypto.

[OrangeII]

cryptocurrency is indeed prohibited from being used as a transaction tool because that would disrupt the development of the Fiat and the economy. however, cryptocurrency is not banned, because the government is also investing in crypto. however, it is suitable to say that the government is also inspired by crypto, even large companies like China and Facebook. it's just that the emphasis written on the local police law lies in the use of crypto as a substitute for fiat in real life.

[crossabdd]

the differences in the crypto and country systems are what keep it from being rejected. but different from the technology. which blockchain can be used on a government system. so many countries are eager for technology, but not so interested in the currency. yes, because the blockchain cryptocurrency was mostly created in decentralization. and that is against the government.

[dimox]

in my country, many people excited about bitcoin, not all people know about it, and its hard to find people that know about bitcoin, but there are many people use it and try hard to earn in any ways. there are some store already accept payment using bitcoin, although government deny to buy or sell use bitcoin, and its can be one of the other people that really want to use crypto as payment, but back to the obstacle aka government. hoping, we can use freely like using fiat money.

[cotton ball]

cryptocurrency is indeed prohibited from being used as a transaction tool because that would disrupt the development of the Fiat and the economy. however, cryptocurrency is not banned, because the government is also investing in crypto. however, it is suitable to say that the government is also inspired by crypto, even large companies like China and Facebook. it's just that the emphasis written on the local police law lies in the use of crypto as a substitute for fiat in real life.

When bitcoin become legal transaction have have pay tax for government I think give positive economic for some country have allowed using bitcoin and not controversial or against with bitcoin anymore, many people will trusted with bitcoin and keep bitcoin become most profitable investment assets for the future if keep invest and not law can stop bitcoin become most interested investment assets.

[DreamStage]

Or they can also stay anonymous and not providing such informations for their governments.
Therefore no trackings would be found.

Nevertheless if they have such issues and can only live of Cryptocurrencies, they should take another solution such as moving to another country / city where the law accepts it.

But for now yeah there are such law policies that ruins the necessary experience and activeness so that crypto becomes even more adopted.

[iram3130]

The governments are not against blockchain technology, many countries have already started their research on blockchain and how they can implement it in the system. But they cant use bitcoin as it is not centralized.

[santiagomaicon]

In a majority of countries there are a lot of problems with crypto and laws.
This is one of the main problem of mass adoption

[jostorres]

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. 

If a government has chosen to stop its citizens from the use of cryptocurrency, then there is nothing you can do about it. But in such countries there are still people that are making use of cryptocurrency underground, they still have a source that they can follow to buy and sell cryptocurrencies without being caught by the government (if eventually they are caught, they get to serve punishment for it).

Some of the government that has stopped their citizens from using cryptocurrencies have plans to create a cryptocurrency of their own. Just like China did, and then announced that they are releasing their own cryptocurrency. But I read a news article that they are now allowing people to mine Cryptocurrency (I don't know if that includes using it as well lol), and I also saw a post about that in this forum.

[princesspoppy]

The volatility of bitcoin as well as its decentralization makes it hard for some countries to accept and use it. They can't put regulations on it and can't track the transactions done using this currency, whether it's illegal or not. Also, the economy and fiat of a country can be overpowered by bitcoin that also adds up to doubts and worries of some countries to it. Luckily, here in my country, there are no such rules and regulations about using bitcoin and cryptos. The government stays neutral about this topic. We can freely use bitcoin and transact with it without any worries of violating any government rules.

[Tipstar]

It's difficult for local law enforcement to control bitcoin and crypto but they do it by making it difficult to exchange the bitcoin to fiat and fiat to bitcoin, making it difficult to provide crypto related services. So, the crypto needs the local laws in their favor to flourish. We should be able to convince our legislator that crypto is here for greater good.

[sovie]

There are two different things cryptocurrency and Blockchain. Governments are not against blockchain technology but cryptocurrency. There is a thread created today (see the link below), which is telling that India may ban cryptocurrency while you don't find such news about blockchain technology.
This is absolutely not good for India Bitcoin community!

[Congyang]

sometimes local law in a country does not even provide a good opportunity for crypto, there are regulations that actually limit crypto. This should be eliminated, because right now I think that legal policy in a country should be able to support crypto, so that it can develop better for growth

[EdvinZ]

I will not reveal anything new to you if I say that payments in cryptocurrency in any country are possible only with the permission of the government. Thus, no matter how cool the blockchain technology is, the state remains the main link in its development as a means of payment. As we can now see, cryptocurrency is recognized mainly in countries with developed economies. 

[bitvalak]

Legal policies can change according to the circumstances that occur, they are not likely to maintain policies that are outdated to deal with modern technologies such as Blockchain.
Just as China has begun to make policies about digital currencies and crypto, meaning they have dared to take the balance more advanced than other countries.