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Author Topic: How can we convince those countries that see crypto as illegal?  (Read 256 times)
pawanjain
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September 19, 2020, 02:05:47 PM
 #21

Cryptocurrencies such as bitcoin are not controlled by anybody and hence there are people who misuse it.
Though there are people who do use it for the positive aspects, the negative aspects come into the limelight.
This is why the Governments are against it since they want to protect their civilians from it.
There are also other reasons such that the Government can't control and hence they prohibit it's use in their country.
If all of us start using crypto for the positive aspects and if it over powers the negative aspects only then we might see all the Governments approving it.

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September 19, 2020, 02:07:12 PM
 #22

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September 19, 2020, 02:10:59 PM
 #23

Cryptocurrency is far moving into many countries, even though some countries are just yet neutral about it, not seeing at as being legal or illegal. One of them is my country, wether it will be turned against by the government or embraced is in the hands of the users, as much as there is no bad new of fraud,scams....we are still on the safe side.some countries are still very much against it Algeria,Bolivia,Ecuador,Bangladesh,Nepal,Macedonia they disapproved it as illegal. Is their any thing we can do to make them accept it?.
It is due to the fact that the govts. And the beaurocracy in these countries is not aware about this advanced tech and they take it either as a scam or just take it as a threat to the traditional financial system.
I ak sure with time and awareness every place will be legalizing and encouraging cryptocurrencies.

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September 19, 2020, 02:33:34 PM
 #24

I am from asia and a big portion of us see the potential of crypto many company have develop platforms around it including banks and food industries, It only take one leading country to adopt crypto for others to follow and for those country that sees it as an illegal many of them are just following their laws to protect their own citizen but it may change someday hopefully.
That's right, we must see that the use of crypto in major countries can be successful and safe. when that can happen then we can see the world view, especially countries that still think a crypto is a tool of crime that can be better. we still lack examples of countries that can be examples of subjects.




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September 19, 2020, 02:52:11 PM
 #25

It is due to the fact that the govts. And the beaurocracy in these countries is not aware about this advanced tech and they take it either as a scam or just take it as a threat to the traditional financial system.
I ak sure with time and awareness every place will be legalizing and encouraging cryptocurrencies.
Yes, if the government and the bureaucracy of each country are aware of this, then one day they will also consider this issue of cryptocurrency legalization, but for now only part of the government believes in the cryptocurrency system.
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September 19, 2020, 03:01:49 PM
 #26

Cryptocurrency is far moving into many countries, even though some countries are just yet neutral about it, not seeing at as being legal or illegal. One of them is my country, wether it will be turned against by the government or embraced is in the hands of the users, as much as there is no bad new of fraud,scams....we are still on the safe side.some countries are still very much against it Algeria,Bolivia,Ecuador,Bangladesh,Nepal,Macedonia they disapproved it as illegal. Is their any thing we can do to make them accept it?.
There is nothing you can do about that, leave the decision making for the government, or do you plan to go for a protest on Bitcoin? So forget about it and do your thing. You’re even lucky that it’s neutral in your country.

I also think that in countries where it’s illegal, there are still people who are making use of it. You’re only going to face problem with the government when law enforcement agencies gets you making use of it or maybe you do a transaction to your bank account that clearly shows that it is something that has to do with cryptocurrency.

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September 19, 2020, 03:21:17 PM
 #27

I am from asia and a big portion of us see the potential of crypto many company have develop platforms around it including banks and food industries, It only take one leading country to adopt crypto for others to follow and for those country that sees it as an illegal many of them are just following their laws to protect their own citizen but it may change someday hopefully.
In Asia, cryptocurrency does have a very rapid development, many technologies have collaborated and been created based on cryptocurrency technology, unfortunately there are still many people who do not fully understand cryptocurrency so that some countries still have not legally provided cryptocurrency use.

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September 19, 2020, 03:26:50 PM
 #28

The main reason behind marking the cryptocurrencies as "illegal" is the economical fear. Some countries are weak in termes of finances and if they really start integrating crypto into the country's payment systems, banks, shops etc that could cause a harmful damage if BTC for example dumps by 20 or 30% of its value. The only solution that i see is to use one of the payments processors just like BitPay to instantly make the conversion from BTC into Fiat in the moment of the payment.
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September 19, 2020, 03:35:35 PM
 #29

If the benchmark is value is very volatile, I think it will be difficult. because even though my country does not prohibit it, what is often questioned is the issue of its fluctuating value and it is very risky for the asset holder itself. while on the other hand, there is no guarantee for losses that occur. In addition, the bounty industry is still in a bad state. I think if the bounty goes well, the government will approve it as an alternative job and also an investment asset.
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September 19, 2020, 03:40:32 PM
 #30

If the benchmark is value is very volatile, I think it will be difficult. because even though my country does not prohibit it, what is often questioned is the issue of its fluctuating value and it is very risky for the asset holder itself. while on the other hand, there is no guarantee for losses that occur. In addition, the bounty industry is still in a bad state. I think if the bounty goes well, the government will approve it as an alternative job and also an investment asset.
Aren't fluctuations the attraction of crypto itself? indeed to get a fluctuating positive outlook is considered a bad thing when many new people arrive at a loss. but the current regulations do not yet support the use of crypto. but why not use stable crypto which can be used as a start or test.

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September 19, 2020, 04:00:36 PM
 #31

Cryptocurrency is far moving into many countries, even though some countries are just yet neutral about it, not seeing at as being legal or illegal. One of them is my country, wether it will be turned against by the government or embraced is in the hands of the users, as much as there is no bad new of fraud,scams....we are still on the safe side.some countries are still very much against it Algeria,Bolivia,Ecuador,Bangladesh,Nepal,Macedonia they disapproved it as illegal. Is their any thing we can do to make them accept it?.

The main reason governments are against the crypto use is the taxes. Many people are using crypto to invest and save without paying taxes to their government.
No country can absolutely stop crypto use. But they can make it harder to trade and use. And I am familiar with the situation on some countries listed, they have a ban on crypto trade but not on it's holding. Just how the China does.


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September 19, 2020, 04:12:10 PM
 #32

I think it can be possible by trending on Twitter and filing a case in court.
Its clear example, we already have India.
When crypto was banned in India, People had put pressure on the government through Twitter, and a case was filed in the court (supreme court ), as a result, the crypto has been legalized in their country.

We are doing all this in Pakistan, hope cryptocurrency will be legal in Pakistan next year.
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September 19, 2020, 05:17:58 PM
 #33

I guess they have their own reasons to make crypto currencies illegal. They probably don't have enough resources or tool to regulate crypto currencies. If crypto currencies are made legal in those countries, the government fears that the people will use it for committing various crimes such as tax evasion, illegal transactions or money laundering.
I have seen most of those countries that made crypto currencies illegal has laws passed where anyone using cryptocurrencies will be prosecuted for money laundering. Weird laws.

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September 19, 2020, 05:27:59 PM
 #34

We as ordinary people, of course there is not much we can do, because all policies towards something are in the hands of the government, for now you can only invite people around you to join the world of cryptocurrency.

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September 19, 2020, 05:38:11 PM
 #35

Cryptocurrency is also illegal in our country. The reason for this is that I think the government does not have the skilled manpower and technology to monitor cryptocurrency. The government will not be able to stop the scams that are happening through cryptocurrency now, so it can not be able to take advantage of cryptocurrency. But when the whole world is swept away by the tide of cryptocurrency, there will be no way for these backward countries to lag behind.
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September 19, 2020, 05:46:57 PM
 #36

As it stands there is nothing I think can be done to make them accept it because everything lies on the hands of the government, but yet again when they see the rate at which other countries are adopting it, using it and so on, they will be forced to restructure their regulations. I think crypto has come to the stage where users needs to do their thing such that when their government sees the growth within it among their citizens they will have no choice than to do the needful. Crypto has gone so far and gradually countries will adopt it, no matter how long it takes their government. So in a nutshell, let the citizens continue with whatever they are doing because I believe that even in those countries, there are people still investing in crypto; thus when the government sees the growth achieved thus far will set a flexible regulations.

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September 19, 2020, 05:57:33 PM
 #37

i think we can not do anything until they realized that should, legal in crypto sometimes many project based scam that made them is getting away to protect people from fraud, his perhaps by cleaning crypto of scam is a good for  they get
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September 19, 2020, 06:08:37 PM
 #38

You need strong support from the people in your country, including to introduce crypto and adopt it. the first time crypto entered in my country it was considered illegal and they thought this was an illegal business (anonymous). but as time went by the government began to realize that blockchain technology was a revolution in the era to come, people started using crypto as well for investment and the government started supporting the presence of crypto.


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nicecrypto
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September 19, 2020, 06:24:17 PM
 #39

Maybe you can start by swiping the crypto community off the huge amount of scam project we have around, I really do not blame those countries who don't accept or see crypto as illegal because too many scam projects everywhere, even if you decide to trust a project and invest on it but somehow the team will manage to ruin that trust by exit scam, we need regulations and sanitization before anything else.
Jackl87
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September 19, 2020, 06:26:08 PM
 #40

Countries deem cryptos as illegal because they fear that they mean less control for the government and for the federal banks.
And of course they don't want less control.
But i don't think it's a big problem that cryptos are illegal in some countries.
There are always ways for someone who wants to buy and sell crypto, and that fact that they are illegal makes it even more interesting.
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