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

[btcgolong]

Cryptocurrency is decentralized, so the government will never be able to discourage its development. Many countries have banned crypto but the people there still use it every day and make profit from it

That's true, there is always a workaround, I would think that a government would probably start by running PSA (public service announcement) type of campaign to scare people into not using crypto.

Has anything like this happened in any countries?  I know some people ("business leaders") in America have cautioned against investing in crypto; saying the same old things (not based on anything, blah, blah)...I'm glad no one is listening.

[princecharles]

The president of my country has the legal rights to declare cryptocurrency illegal, but as it stands cryptocurrency is not a legal tender in many countries but its still used for transactions by individuals and companies who love to accept it. I personally don't think that the presidents order would make much impact, since he's order can't change people's choices, unless it's a criminal offence and shouldn't be used by the citizens.

[taguig]

No, I'm not because it's going to be short-lived because president life's and tenant is only for a short period of time president just come and go but Bitcoin and Cryptocurrency are here to stay, they are going to make an impact in our lives and future of our civilization.

[qazgroup]

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?

In my country they are not clearly allowing or banning the use of cryptocurrencies, maybe because clear policy and rules regarding crypto have still not surfaced from govt or its institutions.
I do however see pro crypto people in govt ranks so i am hopeful pro crypto policies will soon emerge and they will encourage more people to enter crypto with massive investments.

[pragna]

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 am not agree with it because for a simple twitter hack, crypto currency that full reflect in economy would be legal. In our county crypto currency is totally illegal and some were arrested for illegal transaction so if they think such like you, my president site or any other govt site would hacked to make  crytp currency legal.

I also think this is a part of finance department and central bank so they must take decision by research that US finance department did otherwise president can not give permission this.

thanks.

[South Park]

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

We know that banning cryptocurrencies is never going to work because they have been specifically designed to resist any attempt of the government of doing so, but if an important economic crisis happens, even bigger than the one we are in right now, then governments are going to try any single measure that they can against cryptocurrencies even if they know those measures are going to be ineffective but at the end they will have to recognize and adopt cryptocurrencies whether they like it or not.

[forexandcryptoauditor]

I am afraid someday, cryptocurrencies will be ilegal in my country. Till today's date even it not consider legal or ilegal. So decision may come on any side.
I have to see what to do with my investment if it's banned in future.

[ChrisPop]

This would be similar to people not being able to hold physical gold legally, but you will still find many people hoarding them even more hastily because of this "restriction".
With the numerous ways to hide your identity online like VPNs and using decentralized exchanges and over-the-counter transactions, I'd go ahead and say with confidence that a ban on cryptocurrencies will raise their value even higher.

Regarding the president of my country, I haven't seen him even talking about cryptocurrencies yet, so I can't make an affirmation on that.

[saint_casanova]

Even if a president of a certain country having a bad day and want to flex his power over little matter, ban cryptocurrencies, it will not have a strong impact since cryptocurrencies are decentralized. I think they won't ban crypto currencies in the future because people raising awareness over crypto currencies. Mine country also likes that.

[bobyhodob]

Even if a president of a certain country having a bad day and want to flex his power over little matter, ban cryptocurrencies, it will not have a strong impact since cryptocurrencies are decentralized. I think they won't ban crypto currencies in the future because people raising awareness over crypto currencies. Mine country also likes that.

I think that will still make some new traders who do not understand the relationship between cryptocurrency and the government. I am sure that there will be a decline in prices because there are panics and eventually the cryptocurrency price collapses for a while and will slowly recover.

[jerrison]

The president of my country currenctly has no issue with the crypto space and no law has also been made to answer to crypto yet but i guess if they want to make any laws, it will be in favor of the crypto space apart from the world of national politics.

[btcgolong]

Governments can change and how they feel about crypto may change with them; overall I think it's here to stay for most of the world.

[Gozie51]

My president doesn't want crypto cos he feels threatened by it and with crypto they won't have control over everything, but I believe with time he will come to embrace it as this lockdown has opened more people to the advantages of cryptocurrency

If a president doesn't want cryptocurrency because he won't have control of people's fund and that of the country, is he a life president? Or won't he leave office? Even a monarch will die and system will continue. Some country president might dislike cryptocurrency just for the protection of the citizens maybe against wrong investment in cryptocurrency and not just because of having control of the state fund.

[electronicash]

My president doesn't want crypto cos he feels threatened by it and with crypto they won't have control over everything, but I believe with time he will come to embrace it as this lockdown has opened more people to the advantages of cryptocurrency

If a president doesn't want cryptocurrency because he won't have control of people's fund and that of the country, is he a life president? Or won't he leave office? Even a monarch will die and system will continue. Some country president might dislike cryptocurrency just for the protection of the citizens maybe against wrong investment in cryptocurrency and not just because of having control of the state fund.

with covid crisis that might take up to 2 years still i don't think this is the right time to actually impose things against crypto or bitcoin.

my country only started adopting cashless transaction which might actually be a good start for all countries to also follow the same path like the rest of the countries today that adopted BTC. south american countries was actually the last countries i think will adopt crypto but they are the first that did.

[Natalim]

My president doesn't want crypto cos he feels threatened by it and with crypto they won't have control over everything,

Why it's all he? isn't it as a president he should protect the interest of people, and if people wants crypto as it can help them, maybe the President should give that to them. If other countries can legalized crypto, I think any country can as long as they have a law to regulate the market.

but I believe with time he will come to embrace it as this lockdown has opened more people to the advantages of cryptocurrency

Hopefully leaders will open their mind on crypto, evaluated it carefully first before making an assumption.

[RabbiTANK]

I haven't seen a government that's powerful enough to ban crypto, it can never be banned, judging from past bans that occured in crypto space it shows that those bans aren't effective at all, some still use crypto in those countries that crypto was once banned

[srcarreira]

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?

The possibility will be there even if crypto will become legal - laws and regulation can be committed to and can be cancelled as well.
However, I feel like as time passes by crypto became more of a strong trend that will flood over every country there is eventually, so its more of a question when crypto will be legal not "if"

[Psynthax]

I haven't seen a government that's powerful enough to ban crypto, it can never be banned, judging from past bans that occured in crypto space it shows that those bans aren't effective at all, some still use crypto in those countries that crypto was once banned

If banning really happens it might give significant effect though only when the punishment is heavy, otherwise it's not gonna be that effective and internet activities is really hard to trace.
But I'm sure that most of countries know that crypto is a technology that's inevitable and even if they did ban crypto it will still lives on.
I mean, just see how piracy still going on even after so many goverment attempt to reduce it. Not to mention the third world countries that usually weak in law enforcement and you should know that bitcoin is different than piracy whereas using bitcoin or crypto you are not making other people losing money.

[_IRMAN]

No, currently in my country cryptocurrency trading is allowed, and it is licensed by the government. I am not afraid that one day it will become illegal, because I will still be able to use it.

[GREENch]

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?

Well, cryptocurrencies were created so that people, bypassing prohibitions, could interact with each other wherever they were. In addition ,the "snow avalanche" that absorbs and involves more and more people in crypto has already gained its momentum.