Dec 05, · Cryptocurrency Nobody is going to ban Bitcoin – US Bank regulator Following fears of potential regulation on cryptos, it has been revealed that a ban on Bitcoin Author: Olumide Adesina. Nov 08, · But Bitcoin Cannot Be Banned. Think about what bitcoin actually represents and then what a ban of bitcoin would represent. Bitcoin represents the conversion of subjective value, created and exchanged in the real world, for digital keys. Said more plainly, it is . Sep 30, · Pakistanis Still Trade BTC Despite Ban. The SBP’s ban came when the central bank of India, a neighboring country, imposed similar measures on cryptocurrency activities prohibiting commercial banks from dealing with crypto. While the ban made things hard for Pakistanis, it did not completely stop them from trading or using cryptocurrencies.
Btc markets bannedIs Bitcoin Banned in China?
Ray Dalio on Bitcoin and virtual currencies. As witnessed during the last few months, governments, even western democracies, have enforced draconian measures on their other folks. Particularly so making an allowance for the contest Bitcoin items to central financial institution virtual currencies. Your email address will not be published. Trump realDonaldTrump July 12, US President Donald Trump has taken a negative stance on cryptocurrencies, last year stating that he is "not a fan" of them, and describing their value as "based on thin air.
However, the risk of a blanket ban on Bitcoin in the US is highly unlikely, given the efforts of various cryptocurrency lobbying groups and a recent positive shift in sentiment among policymakers.
Nevertheless, by imposing harsh regulatory requirements on the on-ramps and off-ramps to the Bitcoin ecosystem, a country could make it very difficult to obtain and use the cryptocurrency, without officially banning it. As such, there remains a risk that the US could clamp down on cryptocurrencies like Bitcoin, by forcing firms to run a regulatory gauntlet that could render all but a few essentially nonviable.
Doing so could come at a serious economic cost, however. Although it is clear that it's quite possible for a government to ban Bitcoin, actually enforcing a ban would provide difficult—if not impossible—in many countries. Unless the government exerts strict control over the Internet, individuals will almost certainly be able to download Bitcoin wallet software, run a node, and complete transactions with little effort. This is evidenced by the fact that there are still a significant number of Bitcoin users in most countries that have already banned it.
Likewise, even in countries with strict Internet controls, a variety of tools used to bypass these restrictions could render the effort pointless. After all, it is incredibly difficult to enforce a ban on Bitcoin when practically anybody can access the Bitcoin blockchain via the Blockstream satellite using a relatively inexpensive software-defined radio SDR dongle and an antenna.
Share Tweet Send Share. Prev Next. For updates and exclusive offers enter your email below. Tony Spilotro 1 hour ago.