Welcome to BeerMoneyForum.com - BIGGEST MAKE MONEY FORUM ONLINE

[Shahness]

Crypto currency has been here for quite some time now and it's proven to be beneficial in many ways then why are some countries still not willing to legalise it? I mean countries like USA, Australia, England had legalised it years ago then what are these few countries that afraid of? Any thoughts?

 

[IB DD]

The latest on the government taking a strong stance against crypto industry is that people use crypto for fiat exchange rates manipulation. In a particular country where crypto exchanges have recently been banned, it was alleged that crypto was used to inflate the exchange rate of the country's fiat against the dollar.

 

[holie]

Many countries of the world are clamping down on some cryptocurrency company because most of them their business are shredded in secrecy. Many people are using the platforms to do money laundering and some other vices..

 

[marshallpowers]

The decision to legalize or regulate cryptocurrencies is multifaceted and involves balancing the potential benefits of innovation and financial inclusion with the need to address regulatory, financial, and security concerns. As the cryptocurrency landscape continues to evolve, it's likely that more countries will explore regulatory frameworks to accommodate this emerging asset class while mitigating associated risks.

 

[holie]

The crypto space is evolving and so different individuals are trying to utilize the space to commit some abnormality since the identity of individuals are not open to the public. Many countries are clamping down on exchanges because they believe different individuals are using to for money laundering..

 

[kayode10]

Money laundering is the reason why some government don't want people to adopt cryptocurrency as a form of transaction and trade in their countries. Cryptocurrency transaction is the centralized which makes it difficult to trace the origin of the trade and this is not good for the government.

 

[holie]

Money laundering is the reason why some government don't want people to adopt cryptocurrency as a form of transaction and trade in their countries. Cryptocurrency transaction is the centralized which makes it difficult to trace the origin of the trade and this is not good for the government.

Exactly, the source and origin of the money almost all the time could not be tracked to anyone and this makes it easier for people to use cryptocurrency to do money laundering which they use most times to finance terrorism across the globe without being tracked..

 

[a_jerobon]

I can understand why some countries would be worried about cryptocurrency affecting their economies. It is still new and not well understood. Those countries probably being cautious which is smart, they don't want to rush in and then have problems. I'm sure they will adopt it eventually as they learn more. But they also have every right to decide what is best for their own people instead of pressure from outsiders.

That is right. They deserve peace while making any decisions they make for their people. They don't need to be rushed into anything that they have not thought about well enough. The are being so careful by first waiting it out before fully legalizing something that they don't really understand well enough.

 

[holie]

Most countries are finding it hard and difficult to legalize cryptocurrency in their various countries because they do not have a firm control of the transactions. Most of the transactions done in Blockchain technology can not be tracked and can not be traced to anyone..

 

[IB DD]

I understand that crypto poses peculiar challenges for governments of countries but the way my own country, Nigeria is handling it looks more like a witch-hunt. Despite everything they have done to victimize Binance as the culprit for the falling of the Naira against the dollar and they had one month of gain, Naira is back to free fall. I think governments have to be open minded about crypto.

 

[Wisdom01]

I understand that crypto poses peculiar challenges for governments of countries but the way my own country, Nigeria is handling it looks more like a witch-hunt. Despite everything they have done to victimize Binance as the culprit for the falling of the Naira against the dollar and they had one month of gain, Naira is back to free fall. I think governments have to be open minded about crypto.

i think is important for governments to approach these challenges with an open and informed mindset, rather than resorting to witch-hunt tactics or scapegoating. In order to achieve a successful and sustainable regulatory framework for cryptocurrencies, governments will need to work with industry players and experts

 

[holie]

Many countries are yet to legalize the use of cryptocurrency in their various countries because it is a digital currency and it might be very difficult to control and regulate.
There are already some negative reports of cryptocurrency where some people are using them for money laundering..

 

[Wisdom01]

Many countries are yet to legalize the use of cryptocurrency in their various countries because it is a digital currency and it might be very difficult to control and regulate.
There are already some negative reports of cryptocurrency where some people are using them for money laundering..

i think It is true that not all countries have legalized the use of cryptocurrency due to various reasons. Regulatory bodies are often concerned about the potential risks of cryptocurrencies, such as the lack of regulation and the possibility of their use for illegal activities such as money laundering and fraud.