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Author Topic: will all countries accept crypto as currency?  (Read 217 times)
jossiel
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December 04, 2020, 06:51:13 PM
 #21

They don't like it and don't understand it. Those are the main reasons why they don't accept crypto in their countries and they've banned it. They are not that many countries though but a ban is a ban. Only them and time can change it in the future.

In my country Venezuela cryptocurrencies are accepted.
In fact, the government has a website to receive cryptocurrencies and then users receive the value in local currency to finally deposit it in the bank.
First time to see someone from that country here in the forum. I know that your country is in hyperinflation and each and every one of you does anything to counter it. I've watched videos that you have a lot of countrymen that are hiding as a miner because the police might confiscate their rigs. And knowing that it's your government that has this type of website, Venezuela does really supports it and gets another source of revenue.

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December 04, 2020, 07:10:39 PM
 #22

In my country, cryptocurrency remains a legal investment though, it doesn't come without an emphasised warning on the dangers that is associated with cryptos with regards to scamming and scammers following it's Decentralized nature. The Nigeria Deposit Insurance Corporation and the Central Bank of Nigeria are trying to see a way of incorporating the blockchain and crypto technology into governmental and finance operations to render needed services. It seems a bit complicated at the moment since, government operates a centralized system and a merger between decentralization and centralization seems out of place but, it's a work in progress and a developmental oriented one at that. So, we are as Bitcoin enthusiast going somewhere with bitcoin in changing the world around us.

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December 04, 2020, 07:18:04 PM
 #23

Countries which consider Bitcoin gambling or "money laundering" have a childish leadership in my opinion. Bitcoin is an asset comparable to Gold and regarded as investment worth by deep pockets funds around the world. Indonesiaand other countries alike will have to accept that Bitcoin is part of our reality now. Denial will only stop economic growth.
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December 04, 2020, 07:56:47 PM
 #24

there are still many countries that cannot accept crypto in their country, why?  do you know  for example in the country of Indonesia crypto has not been legalized because it is considered gambling and money laundering, what about your countries?
In my country then government is still on the neutral side which means they aren't regulating it and they aren't banning it.They haven't still consider on taxing out
cryptocurrency earnings which is still a good thing for people who do reside into this country.

You can really expect that there would be different jurisdiction or views of each government since not all would really be having  that positivity towards bitcoin
or crypto as a whole.

Some would see this as an opportunity and some would see this as a great threat or a problem since due to anonymity and decentralization which is a
main characteristic which cant really be easily adopted.

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December 04, 2020, 08:08:46 PM
 #25

there are still many countries that cannot accept crypto in their country, why?  do you know  for example in the country of Indonesia crypto has not been legalized because it is considered gambling and money laundering, what about your countries?
^ Bitcoin in my country remains legal and I am not seeing the possibility that they will soon ban cryptocurrency here. In fact, we already have some schools that offer courses related to blockchain and also merchants that accept bitcoins as payment. However, our government doesn't encourage any citizen to invest in bitcoin or with any other cryptocurrency due to the risk or become a victim of scammers neither get involve with any Ponzi scheme. Nevertheless, for me, our government stands are only fair and just since they are only after our welfare yet they are not suppressing our free will.
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December 04, 2020, 08:21:58 PM
 #26

It isn't a necessary thing for country governments to accept cryptocurrencies. That's the good part of custom cryptocurrencies, almost every one of them are decentralized and you're the only one who allows or not the transaction. But I think that in a future it may be possible that cryptocurrencies will be accepted everywhere around the globe since they'll represent an enormous part of the economy.
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December 04, 2020, 08:31:11 PM
 #27

In Russia, the law on digital assets will come into force in 2021. Cryptocurrencies are prohibited as a means of payment.
Cryptocurrency is considered property. You can buy it, but you must declare your income. But Moscow and St. Petersburg are the largest black markets with huge trading volumes.
It will be very interesting to watch the events.

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December 04, 2020, 08:49:09 PM
 #28

In each country, there are different policies in dealing with cryptocurrencies. Because the circulation is completely unregulated
and does not get guarantees from the government, especially by the central bank. Because of the Bitcoin trend,
there is a high inflating of the value of conventional currencies, potentially disrupting the country’s financial stability.
That’s one reason crypto doesn’t get official recognition in many countries.
Bitcoin is actually legal in Indonesia, just not as a means of payment.  But Bitcoin is only official as a commodity.
The Commodity Futures Exchange Trading Supervisory Agency (Bappeti) released the rule that bitcoin is legal as an investment tool.

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December 04, 2020, 09:08:31 PM
 #29

there are still many countries that cannot accept crypto in their country, why?  do you know  for example in the country of Indonesia crypto has not been legalized because it is considered gambling and money laundering, what about your countries?

First everything depends on the inner policy of the concrete country. As for my country the other day news appeared about plans of legalization of cryptocurrency, but honestly I am not very happy. Because it looks more like very beautiful and promising slogan, that will bring lots of difficulties for traders and crypto holders. Because the inner policy in my coutry is not oriented on the happiness of crypto users. Of course people will find the solution I think, and hope this attempts to legalize crypto will not have a bad impact on our development in this direction.
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December 04, 2020, 09:20:57 PM
 #30

Only a few countries have already fully adopting crypto. Some allow it but the problem is that only a few establishments are accepting then and so the number of users. The adoption will take longer as I think and if that illegality will rise due to the use of crypto, that it creates a problem in the future. This is also one reason why some countries never give their support for Bitcoin, but if that could be changed, maybe we can say that merchants and local investors will run into as they feel secure.

R


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December 04, 2020, 09:44:12 PM
 #31

Even in countries where it is not legal they can't really stop people from using it if the really wanted to. Criminals are probably the only ones not affected by these laws because they don't care about following them. It doesn't really make sense for these laws to exist so it is probably a matter of time before they start to embrace it.

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