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

[Zeke_23]

I think every crypto enthusiast is scared of it,
Who wouldn't be scared when their investment and source of extra income would be illegal on their country?

If that would be illegal, you can still find a way to trade crypto as it's anonymous, you can send it from country where it's legal and let them do the job for you, actually you can always find a way if you are a crypto enthusiast. Maybe I'm just lucky that crypto is legal in our country but I'm pretty sure some other countries where cypto is illegal are still enjoy crypto in ways they can avoid getting caught.

Yes, there's a lot of ways to continue to trade even if the president of your country makes crypto illegal. Aside from sending it from another country, you can also use VPN, though it will be hard to convert it into fiat, the only positive thing is you can hold it until crypto will become legal again in your country.

[adekogbe]

This is an interesting topic because, It is entirely feasible for a president to choose prohibiting cryptocurrency. however i dont believe it would be  as simple as that since everything ought to go through legitimate cycle.
Also, Cryptocurrencies has not come at this point where legitimate adoption is also a big step in the innovation that most countries want. Individuals has settled on the correct decision to work or invest in crypto in light of the fact that they are truly making good benefits from it and had the option to support their essential needs.
Cryptocurrencies poses very big opportunities and countries will want to gain from it so i dont fear my president banning it.

[Oilacris]

I can hardly imagine a scenario like this. Even if this happens, it can only have the opposite effect. Indeed, due to the increase in restrictions on cryptocurrency, the demand for it will also increase.
Such precedents have already been met. Bans always have very controversial consequences, including an increase in crime. Any government must understand this and act in the most productive way so as not to create imbalances.

Decisions cant really be imposed directly yet it will vary on what kind of government you do had into your country and if its a Monarchy or Dictatorial one then expect that everything would
be changed directly or be effective immediately unlike on Democratic type of country where it will still pass on lots of debates and argumentation before a new law or
prohibition will take place but decisions made by president will most like be followed.So lets hope it wont really that happen.

If this thing happen into our country, then i would be liar if i wont tell my inputs and feelings about it which i will surely be worried specially if crypto earnings would be tax or completely banned
because it will mainly affect your crypto activity and earnings on that case which we know that earning money nowadays is very crucial specially now
on a pandemic situation.

[Valzador]

Seeing the current world trend, the possibility of Crypto being banned is tiny. Still, if this scenario occurs in my country, I will first read the government's regulations, whether Crypto is prohibited from being used for daily transactions or is prohibited for investment assets and daily transactions. If the government forbids Crypto to be used as currency, I will carry out the order because, in my country, there are still not many shops that accept payments in cryptocurrency. Nevertheless, if Crypto is prohibited for investing as well, then I will create an exchange account with the VPN of another country, and when I want to make a withdrawal, I need to sell Crypto with another currency pair that I wish to then I sell that currency with my country's currency.

[flagpara]

No Of course not, There are privacy coins I could use and no one can track them, then Every time I need cash I just deal with a face-to-face person or just travel to some other county and cash them with ATM or just use Localbitcoins for that!

What do you think this process is very easy? You will not support cryptocurrency in the future if you have to go to another country to buy a coin. Still, I don't want to face anyone to buy or sell cryptocurrency. If you make a face to face transaction, then what does digital currency mean?
Whatever it is, you should fear this illegal news. You can't go against government rules.

[sayulita]

I think every crypto enthusiast is scared of it,
Who wouldn't be scared when their investment and source of extra income would be illegal on their country?

If that would be illegal, you can still find a way to trade crypto as it's anonymous, you can send it from country where it's legal and let them do the job for you, actually you can always find a way if you are a crypto enthusiast. Maybe I'm just lucky that crypto is legal in our country but I'm pretty sure some other countries where cypto is illegal are still enjoy crypto in ways they can avoid getting caught.

P2P method is what will be used if any country bans bitcoin and people still want to buy and sell cryptocurrencies. Classic example is of India where p2p trades were prioritized after their government banned the cryptocurrency trading and buying and froze all the bank accounts of the companies that were doing such things and after implementation of the ban there was a huge boom in the p2p part of cryptocurrency buying and selling just because of the need. So, in the same way there would be another method made for such purposes once a country bans cryptocurrencies.

[Google+]

I can hardly imagine a scenario like this. Even if this happens, it can only have the opposite effect. Indeed, due to the increase in restrictions on cryptocurrency, the demand for it will also increase.
Such precedents have already been met. Bans always have very controversial consequences, including an increase in crime. Any government must understand this and act in the most productive way so as not to create imbalances.

the prohibition of using cryptocurrency in some countries may be due to the influence of unstable price movements and security when transactions are being made, because we all know that there are many cases of theft and loss of assets in cryptocurrency so that it will make a country think longer when it wants to provide legality to use of cryptocurrency.

[Velvet78]

I live in Turkey where the economy is suffering right now. At any moment, the state can impose a tax on cryptocurrencies. They may consider them illegal. There are even rumors that they are currently working on cryptocurrencies.

[Nazmul012]

annonucment about illegality or legality both would be different from one county to another.courtiers that are already annonuced Crypto as legal by theirs precedents, is difficult for them to re-announce crypto as illegal.but don't worry much about that cause govt. can't stop people using cryptocurrency.but i assume, thus cryptocurrency price might go below and as a crypto lover, i don't want that happened

[Strotman]

Well, if it happens that in my country they thoroughly "tighten the screws" and it becomes impossible to cash out or use cryptocurrency, then you will have to periodically make «shoptours» to those countries where there will be no problems with this.

[Tahid12]

It is not possible to ban bitcoin in my country cause the prime minister of our country already declared bitcoin as illegal currency.but i don't care of bitcoin if it will be unban or not, cause i can enjoy & use bitcoin even it is illegal in our country.but every government should allow bitcoin for transactions, thus using bitcoin may helps to develop of our country

[Justin999]

Yeas i fear if Crypto get banned by our precedent.but i believe that, if he takes decision something like that, then that due to welfare for our country.cause many developing countries like china, banned bitcoin & declare about using bitcoin is a offensive crime even will be punished by low if found.and that ban has no effect to their people, they still developing so fastly.but i like to use crypto for cope with advance technology

[NewRanger]

It is not possible to ban bitcoin in my country cause the prime minister of our country already declared bitcoin as illegal currency.but i don't care of bitcoin if it will be unban or not, cause i can enjoy & use bitcoin even it is illegal in our country.but every government should allow bitcoin for transactions, thus using bitcoin may helps to develop of our country

allowing bitcoin in any countries will help them to create new opportunity for their citizen to earn money, our government should not look bitcoin from investment side only. they must understand about technology that created by blockchain, developtment in blockchain will create new online job for every person in the world  , as developers , marketing team , bounty hunter and many others.when more people have job i am sure it will give positive impact to country.

[Vishnu.Reang]

allowing bitcoin in any countries will help them to create new opportunity for their citizen to earn money, our government should not look bitcoin from investment side only. they must understand about technology that created by blockchain, developtment in blockchain will create new online job for every person in the world  , as developers , marketing team , bounty hunter and many others.when more people have job i am sure it will give positive impact to country.

Well.. I agree that the cryptocurrency sector provides passive employment to a huge number of people. But it is very difficult to make the politicians aware about cryptocurrency. In their eyes, cryptocurrency is a tool which is used by criminals for tax evasion and other illegal activities. Here in India, there were repeated attempts to legalize Bitcoin. But nothing has realized as of now, because of stiff opposition from certain sectors.

[Princejebs]

Yeas i fear if Crypto get banned by our precedent.but i believe that, if he takes decision something like that, then that due to welfare for our country.cause many developing countries like china, banned bitcoin & declare about using bitcoin is a offensive crime even will be punished by low if found.and that ban has no effect to their people, they still developing so fastly.but i like to use crypto for cope with advance technology

Bitcoin as now at the pick where ban and offensive use no longer affect it value, it has gotten enough traction already, I believe you seen Okex news about their halt on withdrawals which never stop bitcoin growth unlike in the past. What we need right now is real adoption with zero hype.
In my country, we have a clown president, stupid central banks and government. Recently, they reduced purchase of dollars per month to $100/month for ordinary debit cards which is making things difficult for small entrepreneurs and individuals to purchase bitcoin from web except locally with P2p which I don't fancy.
They have authorise banks in my country to close any account that's associated with Bitcoin transactions, so when one make transactions or buy bitcoin through debit card, you must not include anything like Bitcoin purchase. I don't like the idea when government interfere with cryptocurrency.

[TIDOVEE]

We expect anything on my country , we prepare ourselves against anything. And that's why many people maximize any slight opportunity they get even greedily, so sorry to say this, but it's the truth. My p resident doesn't even have time for crypto now, let alone thinking of it being legal or illegal, if only the members of his cabinet draw his attention to it. Bitcoin is not illegal and we can prove it to him.

[sambuddha]

It is not possible to ban bitcoin in my country cause the prime minister of our country already declared bitcoin as illegal currency.but i don't care of bitcoin if it will be unban or not, cause i can enjoy & use bitcoin even it is illegal in our country.but every government should allow bitcoin for transactions, thus using bitcoin may helps to develop of our country

allowing bitcoin in any countries will help them to create new opportunity for their citizen to earn money, our government should not look bitcoin from investment side only. they must understand about technology that created by blockchain, developtment in blockchain will create new online job for every person in the world  , as developers , marketing team , bounty hunter and many others.when more people have job i am sure it will give positive impact to country.

I really like the laws in Portugal . In Portugal, tax authorities waived all tax on cryptocurrency trading and transacting – meaning that individuals do not have to pay capital gains tax or value added tax (VAT), when buying or selling BTC and other digital assets. That's cool)

[Wingo]

Yes, and everyone here is afraid that this might happen. But right now the possibility is very low.
At this time of pandemic, contactless and online transactions are the best solutions to lessen the infection of the coronavirus disease. People can buy goods online using online banking and online payments.
But on the business side, there is an alternative to lessen the cost of processing financial transactions while ensuring security with the use of blockchain technology and cryptocurrency.
So in order for this to happen, everyone must be educated about what cryptocurrencies are. In my experience, there is a stereotype that cryptocurrency is used by scammers and for money laundering. And this mentality needs to change.

[fosco333]

Not sure about that. The certain thing is, we know that cryptocurrency is a decentralized currency.
There will be no one can prohibit people to using crypto because crypto can't be controlled with single entity.
Fear not, we still be able to use cryptocurrency as long as we are using it without centralized exchange who affiliated with government regulations.

[JahriMeayer]

It won't going to be a big thing, if president ban crypto! Because people wouldn't going to stop using crypto as there will have no trouble going to occurred need. Cause people can use crypto from anywhere if they want. no need to wait for president confirmation.so no need to get feared.besides chance is also very few for that.but if anyone would like to go for legality first, then nothing to for them even they wound rather forget crypto