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RE: The World of Cryptocurrency - Bitcoin's Fate
Sounds about right... another law that these countries (not excluding my country, Australia) can't (and has no hope in regulating)..... just a combination of ignorance and keeping the poor poor I reckon.. typical political crap
There is no way the government can regulate cryptocurrency, as of now. But technology is fast evolving, maybe time comes that they can discover ways on how to regulate it.
yeah... the problem is governments like to have reasons to prosecute people... take the war on drugs as an example... take the quote from one of Richard Nixons advisers:
"We knew we couldn't make it illegal to be either against the war or black, but by getting the public to associate the hippies with marijuana and blacks with heroin, and then criminalizing both heavily, we could disrupt those communities."
Yes i absolutely agree on this also people are trying to skip taxes using crypto currency sm cuntries lost alot of money due to nt getting any tax frm import export due to trade in cryptocurrency thr is a gud chance of countries banning cryptocurrencies
IRS already won the case over Coinbase over customer data. We'll see what comes next... The problem is that if people start using cryptocurrency as currency replacement, there's no way to measure and tax on any realized gain.
Regulation has to come to protect the consumer. Right now no one has been hurt so no one has cried for help. But it will come soon!