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

[Argoo]

In my country, the president does not have the authority to make such decisions.  The rules for the circulation of cryptocurrency in society are regulated by the relevant law, which is adopted by the parliament, that is, collectively.  In this regard, there is no need to be afraid that some top government official will wake up in the morning in a bad mood and do something to the detriment of public interests.

[ZZ8ZZ]

Good question but tbh with you OP, my president and prime minister as well have their bags loaded with crypto even tho they denied it  There was recently some info released by hackers that the politicians in my country have over 20 Million USD invested in crypto, that's literally insane and shows how much potential BTC has.

[gamer4156]

I am certain that won't makes individuals who use crypto will have an issue since we have the other method to get the cash into the financial balance. I trust that my administration, particularly my leader, will reconsider prior to choosing something identified with cryptographic money. Crypto has not come at this point into its legitimate selection however I think when this pandemic has recently begun, individuals has settled on the correct decision to work or put resources into crypto on the grounds that they are truly making acceptable benefits from it and had the option to support their essential necessities.

[Mpamaegbu]

To be frank, I once had this palpable fear around the time the Chinese government banned crypto activities in China, and I was like what if that happened in my country? But great a thing the ban didn't come, following the Chinese ban. That would've dislodged so many crypto lovers and investors in my country. Since it didn't happen then at a time when Bitcoin had so much bad reviews, I don't see it happening now when the globe is getting into full grasp of its benefits. So, I doubt if the government of my country can ever ban Bitcoin.

[firmino10]

Indeed, that is true. There is consistently a likelihood that the governments will limit or even ban the utilization of the cryptocurency market. The explanation is that the presence of cryptocurrencies can hurt the predominance of fiat currency. Governments use fiat currency as an apparatus to control their economy and they don't care for any factor that can compromise their device.

[enhu]

To be frank, I once had this palpable fear around the time the Chinese government banned crypto activities in China, and I was like what if that happened in my country? But great a thing the ban didn't come, following the Chinese ban. That would've dislodged so many crypto lovers and investors in my country. Since it didn't happen then at a time when Bitcoin had so much bad reviews, I don't see it happening now when the globe is getting into full grasp of its benefits. So, I doubt if the government of my country can ever ban Bitcoin.

I was also thinking of that possibility during that time. The problem, if this will happen today, is that some people had already relied on cryptocurrency earnings. Some users are dependent already on their cryptocurrency-related jobs at home.

If the president of my country makes BTC illegal I'd be one of the users that will be affected too.

[bttmember]

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?

There is nothing to get scared because most of the governments and local regulators are not aware of this tech and innovation so with time they will get to know about its legitimacy it will be encouraged everywhere in the world.

[uneng]

Actually what I most fear are the regulations and abusive taxes instead of a complete ban. Governments aren't fool to ban crypto currency. They know it's an opportunity for them to charge more money from their citizens and to use that excuse they are charging profits to distribute to people in need of the country.
It's digital slavery that should worry people nowadays... You work online, you take the risks by yourself and the government does nothing more than taking a big slice of the cake without supporting you in any ways.

[santiPOGI]

If ever that happens, I am pretty sure that all crypto enthusiast will become worry about it, Although, the President has the authority to do that, but I am not to happen it here of course. Because, We as crypto fanatic knows that this matter is a big thing help for us in terms of financial solution via online.

[pixie85]

Well actually yes also if that day happened I was thinking of ways on how to bypass the system in order to access cryptocurrency again, I know that it would be dangerous for me and I can be in prison for that but I'm used to cryptocurrency and I don't think they can stop me from accessing it.

It's really easy as long as your banks offer international transfers.

You can move fiat money abroad and set up an account in another crypto friendly country like Estonia, Germany or Belarus. I also don't think the US will ever ban cryptocurrencies.

You can also send fiat to a foreign crypto exchange because your government can ban exchanges in your country but has no jurisdiction outside it.

[NavI_027]

Well actually yes also if that day happened I was thinking of ways on how to bypass the system in order to access cryptocurrency again, I know that it would be dangerous for me and I can be in prison for that but I'm used to cryptocurrency and I don't think they can stop me from accessing it.

It's really easy as long as your banks offer international transfers.

You can move fiat money abroad and set up an account in another crypto friendly country like Estonia, Germany or Belarus. I also don't think the US will ever ban cryptocurrencies.

You can also send fiat to a foreign crypto exchange because your government can ban exchanges in your country but has no jurisdiction outside it.

I like the idea and it actually makes sense. So witty . Well, even if such method is safe and feasible, I might still refuse to do so. I mean, of course no one wants to go in jail. So why would I make something which could lead me to imprisonment I'm faint hearted when it comes to that matters. I will choose peace of mind than money over and over again.

But anyway, I am actually not worrying for the possibility of banning the use of crypto here in country at least for now simply because our president is more focused on eradicating drugs and strengthening the armed forces. That's his specialty. So I foresee that we can still continue enjoying our crypto profits TAX FREE hehe.

[jossiel]

There is nothing to get scared because most of the governments and local regulators are not aware of this tech and innovation so with time they will get to know about its legitimacy it will be encouraged everywhere in the world.

They are now becoming familiar with crypto. For some reason, taxation is the first thing that will be applied to it because there is money that the government can benefit from it.

If a government is still unaware of it, I don't know what they are doing. But if you look at the laws and regulations of most countries dealing with bitcoin, most of them are aware of it.

[SlimShadyMmp]

Crypto is just starting to gain some grounds so I really doubt any president will pass a harsh law Like that There are still people using crypto in countries thats illegal Use VPN and save yourself the trouble am very sure sooner or later things will change about cryptocurrencies

[Quintrix]

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?

Of course I will have fear knowing that I cannot trade my coins to fiat whenever I want money and I will not able to buy or store coins because there are no local exchange anymore, it will have a big impact, because we already reached a lot of milestone in our country and the government has done a lot to the advancement of Cryptocurrency.

[TWW]

Seeing how our government in my country is working only for themselves I think the president of our country doesnt care about this new innovation of digital era where cryptocurrencies are slowly getting on its way to be familiarized by several first world countries which made me feel to not to be scared or to have fear that cryptos will be illegal to our homeland. If ever that our president and the government acknowledged cryptocurrencies they will instead use it to boost the economy our country rather than banning or making it illegal.

it will still be difficult to happen. it is not impossible but regulating a new program to replace something that has been used by many people for a long time will certainly be difficult. I don't think your government doesn't care about the renewal of the crypto world. they must be looking for examples and real evidence of the use of crypto that they can sample. implementation will not be possible in all sectors of government. they definitely need some testing and a lot of refinements that take a while. I think to be patient with it all.

[Ziskinberg]

Seeing how our government in my country is working only for themselves I think the president of our country doesnt care about this new innovation of digital era where cryptocurrencies are slowly getting on its way to be familiarized by several first world countries which made me feel to not to be scared or to have fear that cryptos will be illegal to our homeland. If ever that our president and the government acknowledged cryptocurrencies they will instead use it to boost the economy our country rather than banning or making it illegal.

it will still be difficult to happen. it is not impossible but regulating a new program to replace something that has been used by many people for a long time will certainly be difficult. I don't think your government doesn't care about the renewal of the crypto world. they must be looking for examples and real evidence of the use of crypto that they can sample. implementation will not be possible in all sectors of government. they definitely need some testing and a lot of refinements that take a while. I think to be patient with it all.

Nothing is permanent, even the way how our government look at a certain thing, let's say for bitcoin, if they are anti crypto now, that doesn't mean they will be forever, unless you are in a country where religion matters a lot to them and if it's against the religion, then that would not change even in the future.

Bitcoin or crypto is a revolutionary decentralized currency. I don't think no government would not want that if that would result to economic improvement.

I agree, let's be patient as adoption is happening.

[masyari]

Its already going in the several countries in the world, howerer i hope that this tendency will not become global

[puremage111]

But that doesn't really stop Crypto isn't it?

Yes, perhaps it might be tough to trade Crypto for Fiat
But with the arise of DEXs, DEFI where you are the sole owner of your money
Nothing can prevent it
Aside from cashing out, there's still ways to cash out for fiat by dealing with P2P with measurement

Unless they can shut down internet
Else blockchain are here to stay

[istiak2277]

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 our country buying and selling crypto is not legal. But we are expecting it to be legal very soon. We saw the news that one of our country banks is working with ripples and became a partner. So I think it is a positive sign and govt is also thinking about the way that they can implement some law for crypto exchange so that no scam can happen.

[pixie85]

Well actually yes also if that day happened I was thinking of ways on how to bypass the system in order to access cryptocurrency again, I know that it would be dangerous for me and I can be in prison for that but I'm used to cryptocurrency and I don't think they can stop me from accessing it.

It's really easy as long as your banks offer international transfers.

You can move fiat money abroad and set up an account in another crypto friendly country like Estonia, Germany or Belarus. I also don't think the US will ever ban cryptocurrencies.

You can also send fiat to a foreign crypto exchange because your government can ban exchanges in your country but has no jurisdiction outside it.

I like the idea and it actually makes sense. So witty . Well, even if such method is safe and feasible, I might still refuse to do so. I mean, of course no one wants to go in jail. So why would I make something which could lead me to imprisonment I'm faint hearted when it comes to that matters. I will choose peace of mind than money over and over again.

But anyway, I am actually not worrying for the possibility of banning the use of crypto here in country at least for now simply because our president is more focused on eradicating drugs and strengthening the armed forces. That's his specialty. So I foresee that we can still continue enjoying our crypto profits TAX FREE hehe.

The profit has to outweigh the possible punishment.

If I had 10 thousand EUR in Bitcoin and my country banned it under risk of jail, I'd probably arrange a p2p trade with someone and forget about it.
If it were 100 thousand I'd ask someone that I trust to exchange it for me in one of the ATMs in a neighboring country and pay them a cut.
If it were a million EUR or more I'd leave the country and move somewhere where trading is legal.