What do you think of cryptocurrency bans?

[Covesting]

Hello all, what do you think about cryptocurrency bans and the introduction of stricter legislation with relation to crypto? On the other hands, this makes operations with crypto more difficult, but on the other hand it reduces the amount of scammers on the market and leads to the creation of a solid market, as more crypto-friendly jurisdictions are established, like Malta and Gibraltar.

 

[The CC Forums]

I think bans are almost impossible. Restrictions may work though.

Crypto friendly legislation by some countries will likely stimulate business growth in those economies. I think more of the developed nations are realizing they shouldn't stifle development with stringent regulation and tight laws. Even the US seems to be open to blockchain and crypto development.

 

[Covesting]

I think bans are almost impossible. Restrictions may work though.

Crypto friendly legislation by some countries will likely stimulate business growth in those economies. I think more of the developed nations are realizing they shouldn't stifle development with stringent regulation and tight laws. Even the US seems to be open to blockchain and crypto development.

Yep, and there is even an opinion that when large institutions like JPMorgan express a negative opinion about cryptocurrencies, they are just trying to "suppress" the market, waiting for the right moment to enter the market

 

[The CC Forums]

Yep, and there is even an opinion that when large institutions like JPMorgan express a negative opinion about cryptocurrencies, they are just trying to "suppress" the market, waiting for the right moment to enter the market

I was just discussing that possibility with a co-worker. Unregulated markets are what crypto adopters want, but then manipulation can freely occur. It’s a double-edged sword.

 

[CryptoTC]

Hello all, what do you think about cryptocurrency bans and the introduction of stricter legislation with relation to crypto? On the other hands, this makes operations with crypto more difficult, but on the other hand it reduces the amount of scammers on the market and leads to the creation of a solid market, as more crypto-friendly jurisdictions are established, like Malta and Gibraltar.

Countries can pull the China firewall technique to ban or severely restrict access to networks, blockchain transactions, exchanges and so on, but I think a lot of them are beginning to realize the true revolutionary nature of this technology.

Restrict or help eliminate scams and pure money play ICO’s while encouraging legitimate development and adoption. That’s the appropriate stance governments should take. Don’t stifle with regulation and over-taxation.

 

[Covesting]

I was just discussing that possibility with a co-worker. Unregulated markets are what crypto adopters want, but then manipulation can freely occur. It’s a double-edged sword.

Countries can pull the China firewall technique to ban or severely restrict access to networks, blockchain transactions, exchanges and so on, but I think a lot of them are beginning to realize the true revolutionary nature of this technology.

Restrict or help eliminate scams and pure money play ICO’s while encouraging legitimate development and adoption. That’s the appropriate stance governments should take. Don’t stifle with regulation and over-taxation.

Good points, besides, bans will most likely mean countries will voluntarily refuse to take an advantage of the new technology, as it already obvious that cryptos will stay with us: countries keep introducing new legislation, IT companies are working on apps for crypto storage and trading etc. and much more is coming, I am pretty sure.

 

[BitFit]

Good points, besides, bans will most likely mean countries will voluntarily refuse to take an advantage of the new technology, as it already obvious that cryptos will stay with us: countries keep introducing new legislation, IT companies are working on apps for crypto storage and trading etc. and much more is coming, I am pretty sure.

It looks like the US and Canada are making the effort to police the scams according to the post in the other section thread. That’s a positive in my opinion. But it will be a constant effort because scammers are good at staying one step ahead.

 

[Jiten Rajput]

Well, I guess the governments who are feared of their currencies going low on importance due to advent of crypto are the ones banning or restricting them. But when US and UK, the countries with two major currency power are supporting crypto then the rest should not be worried.

Even in the countries which have restricted crypto, the residents are trading with crypto in one way or the other. Personally, I don't feel like banning them will create any major impact, just price dips for a short time.

 

[The CC Forums]

Good points, besides, bans will most likely mean countries will voluntarily refuse to take an advantage of the new technology, as it already obvious that cryptos will stay with us: countries keep introducing new legislation, IT companies are working on apps for crypto storage and trading etc. and much more is coming, I am pretty sure.

Well, I guess the governments who are feared of their currencies going low on importance due to advent of crypto are the ones banning or restricting them. But when US and UK, the countries with two major currency power are supporting crypto then the rest should not be worried.

Even in the countries which have restricted crypto, the residents are trading with crypto in one way or the other. Personally, I don't feel like banning them will create any major impact, just price dips for a short time.

What about the delisting of some of the privacy coins. Any thoughts on how that will impact prices? I initially thought it would increase demand as people love to do what their governments say they can’t, but you have to be able to get them somewhere besides on the dark market.

Gemini will be listing monero but then other exchanges are removing it.

Thoughts?

 

[Covesting]

Not really good for the coin I guess, since if it's traded only on certain exchanges, it won't be of interest to a large number of investors. Just my thoughts. Let's see how things will develop