Do you fear the president of your country, one day, making Crypto illegal ?

[btcgolong]

What if, for example - like after that twitter hack - the President wakes up (in a bad mood) and decides with an executive order to make all crypto illegal in the USA?

Of course this probably will never happen in today's world, as the there is big money is invested into crypto currencies; but do you ever think that it is even remotely possible...

Or the next elected president is so "old school" and decides that crypto needs to go?


I don't mean only America, what about in your country; do think that a future ban on crypto currencies is ever possible in your country?

[michellee]

I am not too worried because I am sure that my president will not do that because of his personal anger. He will think about his people, and he will not make a rash decision without discussing it with his ministry/government. Even if he makes that decision, I am sure that will not makes people who use crypto will have a problem because we have the other way to get the money into the bank account. I hope that my government, especially my president, will think twice before deciding something related to cryptocurrency.

[jossiel]

It is possible for a president to be bad like what you have described because it's his/her account that has been hack. But it just can't be passed quickly out of his words. There's a process even if it's an executive order.

But if that happens in my country, I don't even think that it's going to happen. As it's a new technology and most are new to it, they should go after the scams and not cryptocurrencies.

[joshua123]

That's possible scenario it already happened on Russia but not really illegal but only forbid to have activity on crypto trading, and etc if not registered or clause on their new law approved by Putin.

What happened on Twitter Incident will really be a big issue on crypto and some could trigger to do what you are saying but lets hope not one president or leader get dissapointed and come to this. Russian community already sad to their leader announcement for the strict rule applied on their country. Hope no ones follow.

[Kemarit]

Of course, there's always that possibility, that one day you will wake up and your government suddenly went on a U-turn on crypto currencies. And it's really gonna sadden those crypto enthusiast who are in a friendly BTC country.

But I do hope that our country will not turn its back on crypto, we have been enjoying their support since crypto started to seep on our population, and they have been active being us warnings for potential scams and even have a plans to be one crypto haven in the last two years.

[btc_angela]

What if, for example - like after that twitter hack - the President wakes up (in a bad mood) and decides with an executive order to make all crypto illegal in the USA?

Hypothetically, only countries that have a authoritative government such as North Korea, China or Russia can do that.

Of course this probably will never happen in today's world, as the there is big money is invested into crypto currencies; but do you ever think that it is even remotely possible...

Or the next elected president is so "old school" and decides that crypto needs to go?

This is possible, we don't know if the next elected President, will have a hard line stance against crypto.

I don't mean only America, what about in your country; do think that a future ban on crypto currencies is ever possible in your country?

Yes, so the next time you will vote for your country's next President, be sure that he is a pro-crypto so that this won't happen because it's going to be very bad and frustration for all of us.

[dragon695]

Of course, there's always that possibility, that one day you will wake up and your government suddenly went on a U-turn on crypto currencies. And it's really gonna sadden those crypto enthusiast who are in a friendly BTC country.

But I do hope that our country will not turn its back on crypto, we have been enjoying their support since crypto started to seep on our population, and they have been active being us warnings for potential scams and even have a plans to be one crypto haven in the last two years.

Yes, that's the truth. There is always a possibility that the governments will restrict or even ban the appearance of the cryptocurency market. The reason is that the existance of cryptocurrencies can harm the dominance of fiat money. Governments use fiat money as a tool to control their economy and they don't like any factor that can threaten their tool.

[glowing10]

The truth cannot be overlooked because the government has their own functioning and they look form their side while making decisions and might not consider the future of this crypto. They may see only form one angle which is like scams happening around it and this may just lead to the ban.

[Vishnu.Reang]

I am living in India, and here the system is different. The president has only nominal powers and the real power is with the parliament and with the ministers. But that doesn't mean that we don't have to worry about a potential ban. The former finance secretary (Subhash Chandra Garg) once proposed to make ownership of cryptocurrency a criminal offense, punishable by a jail term of up to 10 years. Fortunately, the finance ministry fired this loser and threw away his recommendation in the dust bin.

[Bitstar_coin]

Besides, it is not as if some countries actually legalise crypto, most crypto activities in some countries are done illegal, but if the president of a country will publicly announce crypto as illegal will definitely be a big problem, because till now the crypto community are hoping government will start to accept crypto gradually and perhaps some day legalise it so that people can engage in crypto freely, so let's hope they won't result to that.

[sfireman]

I am living in India, and here the system is different. The president has only nominal powers and the real power is with the parliament and with the ministers. But that doesn't mean that we don't have to worry about a potential ban. The former finance secretary (Subhash Chandra Garg) once proposed to make ownership of cryptocurrency a criminal offense, punishable by a jail term of up to 10 years. Fortunately, the finance ministry fired this loser and threw away his recommendation in the dust bin.

OMG! That sounds shocking! I can't believe there is a recommendation like that! Of course, the existance of cryptocurrencies is a threat to the dominance of fiat money. Personally, I think the governments don't really like the idea of having a global money which can conveniently replace their fiat money at all! They need to keep their money in charge in order to control their countries, I guess!

[hrunya102]

Ban to pay with cryptocurrency, I think this is all that he can do, no one will forbid me to store on my wallet the cryptocurrency that I want.

[timmmers]

People have a power, but they don't know it. But, I believe that governmens don't realize how big problem cryptocurrencies could be for them and when they finally realize it, it would be so late and people will fight against all prohibitions against cryptocurrencies.

[Cnut237]

I think that countries that make crypto illegal will get left behind, and will soon realise their mistake and legalise it again. If we think about the potential of smart contract cryptos such as Ethereum, these can introduce huge efficiency improvements in society... any country that makes crypto illegal chooses to use a much less efficient system instead, and puts themselves at a disadvantage.

[Akiko]

Crypto currency lovers will hate that for sure and that's not possible to happen  in my country since its already legal here. And that hacking  attempt happen will not be the reason to destroy the trust  we have in crypto currency.

In terms of hacking and other scheme those who use bank tO stored their money is much more vulnerable to became a victim in my country.

[Dhoe]

Praise to God, in my country, the government does not forbid people to have Crypto, even they have made laws governing the Crypto world, Set up Crypto Exchange to be eligible in the service and financial authority. I think that's the right step taken by government so the Crypto world continues to grow in my country.

[masterrex]

What if, for example - like after that twitter hack - the President wakes up (in a bad mood) and decides with an executive order to make all crypto illegal in the USA?

Of course this probably will never happen in today's world, as the there is big money is invested into crypto currencies; but do you ever think that it is even remotely possible...

Or the next elected president is so "old school" and decides that crypto needs to go?


I don't mean only America, what about in your country; do think that a future ban on crypto currencies is ever possible in your country?

IMHO, only those backward moving countries will try to stop the proliferation of cryptocurrencies, But in the case of my country it's not possible because my country is very welcoming in all kinds of innovation and technology, but besides that stance, my government continued to enforce the law and monitor all bogus and fraudulent crypto base investment services and all others. 

[bonyaserg]

For me, cryptocurrency is a new technological breakthrough in the global crypto industry. And if my country wants to earn money to use cryptocurrency, then it means a big tragedy for the development of new technologies. Since all advanced technologies are created with the help of the crypto industry. And other countries are developing with the help of new technologies and achieving great economic results. So my country, I think, will develop any direction to create great potential for economic results.

[iamaruf]

I am not worried because in our country cryptocurrency is illegal. But I will be happy if govt accept bitcoin but possibility is low. Though govt. announce about blockchain and they declared about the budget but no progress. I think near future govt will accept cryptocurrency & we can use crypto proudly

[someone703]

I am not worried about this issue, ever since I entered this market, the government has listed crypto as illegal. But there are still a lot of people who use and trade it, so I believe there won't be any problems for me.