Global crypto ban in 2022?
Why Is There A Ban On Cryptocurrency In Some Countries?
On December 26, 2021, according to a report issued by the Global Legal Research Council (GLRD) of the Law Library of Congress, a total of 51 countries/regions around the world have banned the cryptocurrency industry.
Will We Be Seeing A Global Crypto Ban In 2022?
Since the story of Bitcoin began to appear on the Internet, the battle for the legalization of cryptocurrencies has never stopped.
Bitcoin (BTC) may be the first and only currently recognized cryptocurrency, but in the future there may be other cryptocurrencies to follow, such as Ethereum (ETH), Litecoin (TCC), Dash and Ripple. But most people do not know that there is a Bitcoin banned countries list 2020!
Managed by a distributed network all over the world, the world’s cryptocurrencies have unique practicality and are polarized at the same time.
There Is No Uniform International Regulation
To specify how to use and not use digital currency, so that each country has its own regulations. In some countries, this kind of financial technology may be regarded as the latest and greatest economic engine and development driver in the future.
But there are more countries that do not want to be related to it. Some even made it a crime. So the news of a global crypto ban.
Ten Years After Its Issuance
Cryptocurrency technology is like an unstoppable machine, spread all over the world. You can’t turn it off, you can only choose how to use it (if you have one).
Common-sense regulations, daily business applications and changing concepts will allow us to enter an environment in which such financial technologies are accepted by more and more mainstreams.
The Problem With Cryptocurrency
Is that many countries and regions do not have a clear regulatory system. Of course, in fact, encrypted tokens are not used for supervision. This is why it is often difficult for governments (or countries) to legalize these currencies.
The relationship between the government and cryptocurrencies has always been tense. In some countries, this tension has led to a complete ban on buying, owning and trading cryptocurrencies. Thus giving further rise to the news of a global crypto ban.
Although Bitcoin Carries The Word “Coin”
Neither Satoshi Nakamoto nor the miners are qualified to issue credit currency. Therefore, Bitcoin is only a speculative product. It is not currency.
Allowing mining does not mean recognizing Bitcoin’s currency status. For countries with too small economic aggregates, holding Bitcoin can prevent damage from underground Bitcoin transactions and prevent the entire country from being sheared by Satoshi Nakamoto and the miners.
No Matter What Country Bans The Use Of Cryptocurrency
It is mainly to maintain control of the country’s financial system and maintain stability.
Since around 2014, Ecuador has been at war with popular cryptocurrencies.The central bank of the country issued a statement against Bitcoin, stating that Bitcoin is not a legal means of payment in the country.
Iceland bans Bitcoin to prevent more capital outflows.
The Bolivian government banned it for the simple reason of being out of control.
Are we soon to see a global crypto ban.?
The Complete Ban On Cryptocurrencies
Mainly occurred around 2017 and 2018, which coincides with the bull market trend of Bitcoin (BTC).
As a means of investment, digital assets are one of the best tools for profit. Not only do they satisfy investment needs, but traders can also use them for other services.
Encryption Technology Will Continue To Exist
Whether countries like it or not and the sooner they choose to accept, adopt, and regulate it, the better it will be for their country. Although most concerns about these assets are reasonable, only the establishment of effective supervision can solve the problem.
2017 and 2018 are not necessarily the most common years of bans-some countries continue to consider banning these difficult-to-control coins. So how then the news of a global crypto ban?
Since Bitcoin Entered The Financial Market
Crypto has been at the centre of public opinion. One of the reasons is anonymity, which is one of the foundations for the creation of encrypted assets.
The main reason is that illegal people use this as a cover to conduct malicious activities, including fraud and hacking, with the main purpose of stealing funds from customers and traders.
Bans Come And Go But Cryptocurrencies Still Exist
The ban on cryptocurrencies changes frequently and so a global crypto ban, seems unrealistic. As people’s general acceptance of Bitcoin increases, the global legal landscape may undergo greater changes.
All these actions are actually creating a black market in their country. You cannot close Bitcoin through the law.
When You Close The Open Channels
Countless underground channels will naturally follow, as long as you can make a profit in this way. In general, cryptocurrencies are affected by many bad statements.
For too many people, Bitcoin is simplified as –
The currency of the internet which people use to order killers and to buy drugs!
This gives people a way that as long as they have cryptocurrency, the living space of criminals and terrorists can be infinitely magnified. Recognition-and this has scared off many governments.
Countries like Vietnam and Bolivia would rather see this technology banned, but pretend that they are making laws to successfully exclude encryption technology from the gray or black areas.
Although Exchanges Are Working Hard
To ensure the safety of their platforms and guard against malicious actors, most countries believe that these exchanges still fail.
This is why some countries have promulgated some regulations to guide the encryption industry. For some countries, crypto exchanges and traders just have to abide by certain rules. Some countries directly ban encrypted transactions.
While some countries seem to be moving towards more restrictive policies, governments in other countries are considering ways to participate in the future of digital currencies. In most cases, this is done through the digital currency of the central bank.
Which country banned cryptocurrency recently?
9 countries have implemented absolute bans on Egypt, Qatar,Algeria, Morocco, Bangladesh, China, Tunisia, Iraq and Nepal.
At present, in countries around the world, there are some clear legislations supporting cryptocurrency, some without clear regulations or ambiguous attitudes, and some express legislation prohibiting cryptocurrency.
Will U.S. ban cryptocurrency?
How Each Country Will Participate In The Future
Of currency is uncertain, but various forms of digital currency may not disappear anytime soon.
There are too many encrypted digital currencies now! The personal feeling of the development of digital currency is an inevitable result!
In The Future
A digital currency is likely to replace the US dollar and become the universal currency of the world! Not restricted and restricted by any country!
But digital currency should not be controlled! With the development of society, every country will definitely issue its own digital currency in the future! Then gradually replaced by an intermediate currency!
So what do you feel? Will there be a global crypto ban in 2022?
DISCLAIMER: The views, thoughts and opinions expressed in the article belong solely to the author and are not necessarily the views of other groups or individuals.