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

[amos77978]

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?

I dont think such a decision will be easy for a democratic country.. the president alone cant make such decision.. and whether they like it or not.. the world is cashing up to the trend of digital money.. faster than ever

[Kasabus]

It is always possible and in some countries have already made that, but l don't think that it can happen in my country. That is why our president would not make such thing, he knows that cryptocurrency is new technology and the country can improve only with following new technology. But as said there is always the possibility to happen that, it is just my prediction. l hope it would never happen.

Yes. This one is very possible for a president to decide banning cryptocurrency but it won't be as easy as that because everything should undergo legal process. But imo, why not banned crypto if everyone in the country is benefiting from it? Crypto has not come yet into its legal adoption but i think when this pandemic has just started, people has made the right choice to work or invest in crypto because they are really making good profits from it and was able to sustain their basic needs.

[Bes19]

Well crypto is still not legal in our country but our President is actually looking forward for making it legal as what i have heard.
He wanted to have a cashless society because of this pandemic so he is looking for some alternatives and crypto is one of it.

Hopefully soon they make it legal.

[azisjz4]

That possibility is certainly there, but I think it takes a logical and sensible reason to make cyrpto illegal. Praise God, in my country it doesn't happen like that, and I think so far there has been no problem with the crypto world, instead the finance minister is very supportive of the development of crypto in my country. And I hope of course this incident will continue into the future, until I can buy luxury homes and cars from crypto and have a lot of savings. After that, I don't care if the government wants to make crypto illegal 

[Nhor1011]

Of course not! Because there are so many ways to continue work on crypto. Also our President are not bad to think that he will ban crypto which many people earn to sustain their needs. Our Presidents always think what is good for his people. One day our country will accept cryptocurrency and add it as a subject or a course for secondary to tertiary level.

[popeye95]

I think it was possible for my country to ban cryptocurrency. Heck, right now, they don't outright ban it but allow it to be in the grey area. With so many scams around using mlm and ponzi scheme but with cryptocurrency, the reception for anyone dealing with crypto is very low.

[Divinespark]

It is always possible and in some countries have already made that, but l don't think that it can happen in my country. That is why our president would not make such thing, he knows that cryptocurrency is new technology and the country can improve only with following new technology. But as said there is always the possibility to happen that, it is just my prediction. l hope it would never happen.

No one can know in advance what the government will do, if cryptocurrency affects the economy of their country, then surely they will take strong measures to prevent it. But cryptocurrency is decentralized, even if the government stops it, people can still use it easily

[Anish02]

crypto currencies do not need approval from the president, crypto currencies are decentralized, not centralized, this is not money from the government, this is world money, I'm not afraid

Exactly, cryptocurrencies are decentralized and that's the reason no one has control over it. People are making use of crypto from those counties where it is illegal or have prohibition over its use. So now can stop you from using crypto.

[South Park]

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?

This is an incredibly unlike you scenario and this is because of a very simple reason cryptocurrencies by themselves do not damage anyone, so governments cannot really use any kind of argument to try to forbid them, the only angle that they had been trying to use to scare people away is that cryptocurrencies are only used by criminals and they have tried to put regulations in place in order to avoid that but straight out banning cryptocurrencies will be impossible because then the population is going to wonder why the government is banning something that is not dangerous for them? And they will realize that they are doing it because they're afraid of the competition.

[JungleOnion]

I'm not that concerned of the government making crypto illegal, I'm just concerned about the government never implementing the technology nation wide.

[sourish]

Presidencies cant work on whims and fancies! As for making crypto illegal, though a looming prospect, with regulatory authorities in a dilemma, i think crypto is a future most governments are going to adopt, and rest follow.

[Phoenix_PROG]

Crypto is unstoppable and can't be stopped, even government are looking into crypto right now, see what happened in crypto space even in a tough time like this (pandemic) makes crypto more stronger and more popular, banning won't work on crypto

[jaberwock]

That never crosses my mind and I don’t even think that is going to happen in my country. Even if it does, I don’t think I will be fully affected by it. Maybe it would be newbies who are interested in cryptocurrency that are going to be affected because they wouldn’t know how they will go about it since there will be no exchange to handle it for them.

Centralized exchanges like Coinbase are reliable for newbies and they can only function in countries where Bitcoin is legal. I already built up a good connection with lots of people, so if there is such, I will still be able to trade my assets.

[nicedreams]

Technically, not many country legalize and accept cryptocurrency as a valid asset so I already get use it. Maybe if one day, my country and president try to ban crypto but the only thing I could see possible is they are a banana state so all the big talk, no action. Without any strict action to enforce or will to carry out those bans, I think I would be safe with my crypto asset. Kinda good side and bad side about having a fail-state type of government.

[yulchatar]

In many countries, cryptocurrency is not legalized even today. However, people find ways to work and earn, transfer and cash out cryptocurrency. Therefore, if a new ban arises, it will always be possible to find a way to get around it.

[electronicash]

it wouldn't make much differences anyway. if from a country where our government had approved several exchanges but there isn't really a thing said by our president regarding cryptocurrency investment. there is too much to be fixed in our government that crypto could be the last in the president's list. what matters is that more countries are accepting BTC as legal and we are enjoying the benefits already even in this pandemic times.

[ije07]

I don't think it's possible, especially in the US, but in my country the government is starting to see crypto as a profitable investment tool and even the government doesn't prohibit the presence of the crypto industry, it's just that it can be used as an investment tool. Although Blokchain technology is still new, but I believe that this technology will be very much needed in the future.

[Febo]

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

In countries with autocratic country president with not strong law tradition it can and it will happen. It can happen in any country. But in countries will long law tradition that law will be overruled in very short time by constitutional court. Most countries have in their constitution written that Bitcoin or any other real cryptocurrency is totally legal. ICOs, premines, instamines, tax mines and whatever get rich schemes of course have no support in any country constitution.

[Maturnuwun]

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.

crypto can be used for investment and for transactions of goods it seems that not many countries support it, so of course there is no limit to storing crypto in our wallets. But you need to remember that investing is certainly a high risk. You must be prepared to accept all the consequences too

[marilynmanson21]

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?

I don't think the President in my country would take a decision based on his personal feeling (which is bad mood). In my country, crypto currencies are not illegal, it's even have it's own local exchange and already verified by the law, so it's official and complete legal. But, if someday  the President decide to ban crypto, i don't think it will impact so much to the country, since not many people that used crypto as the payment and accepted payment on their store, only some of it.