The war on tokens and cryptocurrency bans

Since the fall of the first token in 2009, it has It has been a battle for control in the digital world. This war generally has a financial basis, as countries try to ensure greater control and control over decentralized exchanges and cryptocurrencies.

Here’s a brief look at a few different perspectives from countries that have tried to close the door on cryptocurrencies.

A brief look at hate

We will take a fundamental look at the history of cryptocurrencies for those who are less familiar with the details that can affect geographic and geopolitical perspectives. For those who are less familiar with cryptocurrencies and their history, we will quickly dive into: the first crypto currency to bless us was Bitcoin in 2009. Starting as an idea on paper, it became a $ 50K + top dog coin and blockchain. you are finding your way into the New York stock market through ETFs.

With its rise of 9,000,000% in the last decade, it is safe to say that Bitcoin is the founder and the beginning of where this war begins.

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As time passed and Bitcoin grew, more coins began to emerge and make a mark in the world of digital currency. In 2013, China tried to ban the currency and label it an insufficient and illegal currency.

At a high level, what makes these coins a control good is the ability to use these coins on the web to buy and buy a lot of things, both online and offline. On top of that, it has become the new “gold rush” as investors young and old liked the gains and growth of these coins, especially Bitcoin.

Bitcoin has long positioned itself as the top dog and face of crypto.: BTC on TradingView.com

The first to enact an official ban was the central bank of Bolivia, as it banned all forms of currency that were not regulated by the government, including Bitcoin and other cryptocurrencies around the world in June 2014. Since then, many other countries have created loopholes and laws to regulate and / or ban these currencies.

Egypt has not yet made the ban official, but according to Sharia law, all cryptocurrencies are prohibited. according to Islamic law. Many countries fear that these currencies could become more damaging than helping their economy, and the “war” around cryptocurrencies has led some countries to enact laws accordingly.

Related Reading | Ethereum value held by miners hits five-year record high

The latest “war”: China’s ban

This year, China made headlines again by indefinitely banning all cryptocurrencies and cryptocurrency mining. The Chinese government proceeded to make banks and exchanges shut down cryptocurrency-related activity. This really comes as no surprise after his attempts dating back to 2013; meanwhile, his approach (or a similar one) has also been adopted by countries such as Turkey, Algeria, Bangladesh, Egypt and Bolivia. Furthermore, the UK dropped the hammer on Binance for failing to comply with money laundering requirements.

It is especially difficult for countries, states and cities around the world to regulate and monitor activity on the blockchain, and how we use this new form of currency, emphasized by its mystique and ability to stay under the radar when it comes to take minutes.

Which countries will fight in this new era of financial warfare?

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