Crypto Scammers put bad impact to Our Government about Bitcoin Transections.

[BD Crypto]

In my country Someone bought a BMW Car by scamming in crypto transections and Police arrested him and told that the guy was a cheater and he was a crypto scammer.And this case is now the most viral topic.This incident shocked the whole country and also the Central bank authority about how he got this huge money and this incident put a bad impact in crypto.

I think Digital Currency like Crypto isn't getting much popularity because of these Scammers.They are one of the most strong reason why Government's aren't showing interest on Crypto Transections.

[ranochigo]

That is not why. The criminal networks around the world uses fiat as their primary currency, that is why you see so many incidents of major banks having money laundering schemes slip under their nose.

The government doesn't care what crimes are committed using Bitcoin. They don't want to adopt Bitcoin, period. It threatens their dominance using the fiat for which they have so much control over, why would they let go of it? Trust me, governments are not deterred from adopting Bitcoin because of a few small crimes. You don't see governments shutting down banks for laundering so much money, but the fine that is given is just a slap on the wrist.

[Rikafip]

I think Digital Currency like Crypto isn't getting much popularity because of these Scammers.They are one of the most strong reason why Government's aren't showing interest on Crypto Transections.

Disagree with the bolded part. Government don't like things that they can't control, or that don't know how to control, at least for now, hence they don't like Bitcoin. What they don't mind though is getting profit from it via taxes.

What I would like to know though is how that scammer bought BMW; using crypto, or fiat money?

[Smartvirus]

I think Digital Currency like Crypto isn't getting much popularity because of these Scammers.They are one of the most strong reason why Government's aren't showing interest on Crypto Transections.

I can assure you, cryptocurrency is getting a lot of popularity with this for sure. Popularity doesn't mean the impact but, awareness and maybe you should look at it that way. Scamers promote it a great deal but then, they do it with negative vibes that could discourage potential investors and have been a major tool to the government against crypto investments.

If there is one thing I could tell you, is that, scamming and fraud has been in the system even before the advent of cryptos.
Do they ever wonder or make the matter so pronounced on fiat as a base for which some fraudster or scammer defrauds or scams someone?

When it comes to fiat, they look at the means but, when it's got to do with cryptocurrency, they look at the crypto as the means!

Hypocrisy in government!

[bL4nkcode]

I think Digital Currency like Crypto isn't getting much popularity because of these Scammers.They are one of the most strong reason why Government's aren't showing interest on Crypto Transections.

Maybe in your country but not in the rest of the world, in fact a country already adopts bitcoin, regulates it, have bills/laws regarding crypto in a positive way.

Yes, there are lots of scammers, they exist before fiat is invented, you can't deny it either in crypto or fiat. But what government needs is the knowledge to bring out to public to avoid such schemes and accept crypto for the purpose of remittance, cross-border transfers, and the technology behind it. Scam victims are mostly the one to blame, its because of their greediness having thoughts of getting money/roi in just a couple of time without realizing if its legit or not.

[bittraffic]

The car seller wouldnt mind where he gets his money or the government whether he cheats or scam bitcoin investors, but why authorities arrested him is perhaps he is identified and proved him to have scammed. Could you provide us link of this news?

Scammers stained Bitcoin badly but its not the cause why governments are not showing interest. Governments are showing interest actually. Even China is interested, the problem is that regulating Crypto assets is close to impossible.

[vv181]

I think Digital Currency like Crypto isn't getting much popularity because of these Scammers.They are one of the most strong reason why Government's aren't showing interest on Crypto Transections.

Cryptocurrencies especially Bitcoin are being accused a lot of bad money, scammy currency, etc. Those kinds of negative views will always be accused toward cryptocurrencies. While in fact, I'm sure that the benefit that cryptocurrency could offer outweighed the bad. Thus, I believe the latter people know about Bitcoin and comprehend what it is all about, the popularity will be enormous.

Regarding the government point of view, I think that inability to mitigate such crime contributed a lot as a whole that made crypto seen as a bad thing. They didn't have a safety measure or a procedure for the use of cryptocurrencies, initially because of a lack of comprehension about how to at the very least controlling the cryptocurrencies usage within the country. I'm sure the more people dipped in cryptocurrencies, governments will take it to the next level to regulate it.

[Imran232]

........

This is really a old news. And you did not know the exact news and also you are shareing a little wrong information too. Yes that person bought BMW car. But he didn't buy with bitcoin. Because its impossible to buy anything in Bangladesh with direct crypto. He uses cash to buy bitcoin. And his bank account has some suspicious activity of transaction he uses p2p transaction from others countries. And those amount was big. After getting this news BANGLADESH Rapid Force Battalion (RAB) uses their informer to trace about him. Then their mission start. After collecting information about that person the informer inform RAB that that person is doing something illegal work in online. Actually he is a credit card hacker. By using different source he is hacking credit card then he sell those card in dark web and take payment in bitcoin. There bitcoin is no more responsible. Then RAB arrest him and after interrogation RAB says in media that the person who is arrested is not only a hacker. He is also involved in money laundering. He is team up with some other countries hacker and they are working together to hack other people's bank account and credit card then they convert it money. But for this they use bitcoin.  Actually they use bitcoin as a payment system but they are actually involved in hacking and money laundering. RAB clearly mention they use bitcoin as a payment system. But though they can't use bitcoin in our country so they use other system to convert their bitcoin to cash what comes in his account but those big big amount of transaction comes from other countries and we got information and then we arrest him and got all proof.


But i don't think so this news give negative effect to bitcoin because after that some others television and talkshow arranged with Bangladeshi Tech expart, finance minister and tech Minister together and they also say bitcoin is a future currency. We are trying to ignore it but we can't thats why we are thinking about it. Because other countries creat some door for our online legal worker like freelancer a new payment method by approving bitcoin in their country. So we are think it might take little more time but it might be happen.


So for your kind information its a old news. Thank you

[GeorgeJohn]

In my country Someone bought a BMW Car by scamming in crypto transections and Police arrested him and told that the guy was a cheater and he was a crypto scammer.And this case is now the most viral topic.This incident shocked the whole country and also the Central bank authority about how he got this huge money and this incident put a bad impact in crypto.

I think Digital Currency like Crypto isn't getting much popularity because of these Scammers.They are one of the most strong reason why Government's aren't showing interest on Crypto Transections.

This is the area we have notice very clearly that government is really again the development of cryptocurrency generally, any country that cryptocurrency is not been legalize should operate in low velocity, because it will get to an extend that when you are investing in cryptocurrency especially bitcoin government will come after you give you or tag you one allegations of fraud, irrespective that some people contributes for giving a bitcoin a negative name by using it to scam people, but in actual sense government is looking for every tendency or means to track bitcoin down which we know that it's not possible for government to suppress any one investing in cryptocurrency (bitcoin)

[Twinkledoe]

........

This is really a old news. And you did not know the exact news and also you are shareing a little wrong information too.
-
So for your kind information its a old news. Thank you

Thanks for sharing the gist of the story if not the whole story. At least, we know how bitcoin is part of this scheme. People should learn more of the situation to know the real problem here. It is not the bitcoin per se but the person himself. So yes, I don't think it will have an impact to their government's decision with regards to crypto. Because this kind of scammer can also use fiat other than btc.

[Bitcoin_Arena]

The US Dollar has been used for criminal activities for decades such as financing Terrorism, Money Laundering, fraud, Buying illegal arms and drugs and so many other things so why is it that when scammers use Bitcoin to defraud people, Bitcoin all of a sudden is bad.

What about the US dollar, that has been used to do the same for decades? I call it double standards

[Quidat]

In my country Someone bought a BMW Car by scamming in crypto transections and Police arrested him and told that the guy was a cheater and he was a crypto scammer.And this case is now the most viral topic.This incident shocked the whole country and also the Central bank authority about how he got this huge money and this incident put a bad impact in crypto.

I think Digital Currency like Crypto isn't getting much popularity because of these Scammers.They are one of the most strong reason why Government's aren't showing interest on Crypto Transections.

One of the reasons too on why some government do really have bad views towards crypto due to anonymous and untraceable kind of transactions which scammers could easily steal or scam out others people.

This isnt something similar to fiat which everything could really be traced up into its origin but its good that there are some crypto scammers do really get caught because in the end of the day they would
just simply make out some conversion from crypto to fiat which do really still end up on being known and how much more on buying out something which something unusual for an individual would
really raise up some questions.

[boyptc]

What country is that?

There really are scammers everywhere not only in crypto but also in cash or banking transactions. The taboo about crypto is hard to remove if it's already there and widen spread.

It's just a matter of time that many governments will look at the positive nature of adopting crypto.

[Oceat]

I'm kinda curious about the guy who bought BMW since I haven't had any idea about the whole story, maybe if you put up some links that would help. Since I wonder if the guy you mentioned was scamming or winning some profit or any other way to get the money since Bitcoin is in bull run so I believe it's possible that someone like him found a way to make some money. But if it's a scammer then okay he's a bad guy.

Anyway, you just can't blame the government if they don't want to deal with crypto currency since most of us know that they don't deal with something that they can't control. And having some bad people using the name of crypto for some bad deeds is not enough to point out why the government won't deal with crypto, it's just, they just don't.

[btc_angela]

In my country Someone bought a BMW Car by scamming in crypto transections and Police arrested him and told that the guy was a cheater and he was a crypto scammer.And this case is now the most viral topic.This incident shocked the whole country and also the Central bank authority about how he got this huge money and this incident put a bad impact in crypto.

I think Digital Currency like Crypto isn't getting much popularity because of these Scammers.They are one of the most strong reason why Government's aren't showing interest on Crypto Transections.

You should at least put a link here.

That's good that the police was able to apprehended the criminals. Again, it depends on what country you live in, if it's crypto friendly, so for sure governments have send a lot of warnings about this kind of stuff, scammers taking advantage of bitcoin. So it's not bitcoin that is the real problem, but people who blindly trust this scammers. Bitcoin has already been popular, although there are a lot of incidence like this in the past, it didn't stop bitcoin from getting to where we are right now. And this bad news will not stop it for the next 10 years or so. Also, just look at banks though, they have been scamming people for centuries.  

[wxa7115]

That is not why. The criminal networks around the world uses fiat as their primary currency, that is why you see so many incidents of major banks having money laundering schemes slip under their nose.

The government doesn't care what crimes are committed using Bitcoin. They don't want to adopt Bitcoin, period. It threatens their dominance using the fiat for which they have so much control over, why would they let go of it? Trust me, governments are not deterred from adopting Bitcoin because of a few small crimes. You don't see governments shutting down banks for laundering so much money, but the fine that is given is just a slap on the wrist.

It is not complex at all, the kind of crimes the OP is referring to are nothing on the great scheme of things compared to what the banks and governments themselves do all the time, however they use those crimes as a way to scare the people away from this market and to paint all of those that are part of this market as ignorant people at best and scammers at worst.

However people are waking up to this, it is impossible to hide the truth and the inflation we are seeing all over the world is finally affecting the pockets of the people, and if this tendency is maintained it is not going to take long until they begin to look for alternatives, and bitcoin will be there to help them out whenever they are ready to be part of this market.

[sheenshane]

Would you mind sharing about what country it is?

There are too many cases the same as you mentioned but still, cryptocurrencies have become popular.  Cryptocurrencies only a victim here because it's prone to use as a tool by the criminal but do you think this isn't happening to fiat too?  As a matter of fact, fiat is the worst of criminal will use it because there's no tract on the transaction as proof, not unlike crypto or Bitcoin for example there's a tract on the public ledger database.

If people know the real concept of crypto on how to use it as a transaction, they will understand that Bitcoin has been abuse, and good thing most of them have been caught.

[stomachgrowls]

Would you mind sharing about what country it is?

There are too many cases the same as you mentioned but still, cryptocurrencies have become popular.  Cryptocurrencies only a victim here because it's prone to use as a tool by the criminal but do you think this isn't happening to fiat too?  As a matter of fact, fiat is the worst of criminal will use it because there's no tract on the transaction as proof, not unlike crypto or Bitcoin for example there's a tract on the public ledger database.

If people know the real concept of crypto on how to use it as a transaction, they will understand that Bitcoin has been abuse, and good thing most of them have been caught.

Doesnt really need for you to find out which country because for sure several countries does really have bad impressions or views towards bitcoin due to sole reason of increase in criminality/scam and money laundering.

Is this something surprising or something new? No its not. These are one of the things on why Bitcoin hadnt been considered to be adopted in most countries and most of them are still neutral or still observing.

Lets just accept the fact that crypto market isnt something that cant really be accepted globally or countries would end up on the same decision.

[hatshepsut93]

I think Digital Currency like Crypto isn't getting much popularity because of these Scammers.They are one of the most strong reason why Government's aren't showing interest on Crypto Transections.

So you think that crypto is not popular because government think that it's used for scams? That's a very convoluted logic.

If government really believed that crypto encourages scams, they would just ban it. But also you don't need government's blessing to make crypto transactions at least p2p and for small businesses. So if the general population is not viewing crypto negatively, it shouldn't be stopping adoption.

[Bazley]

It is wise for swindlers to choose bitcoin as a payment method. Because it greatly increases the difficulty for the government to track funds. But is it bitcoin's fault? If you pay in their country's currency, is it the fault of legal currency?