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The announcement of china's ico ban resulted in a price decline of as much as $500 in bitcoin's price. Can government of the philippines ban cryptocurrency. The government is likely to put a ban on cryptocurrencies soon. All that bitcoin needs to survive are two individuals that want to make a transaction and a miner. When bitcoin was launched, its objective was to have a decentralised currency that is not owned by any.
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Cryptocurrency ban to be made explicit;
Even still, it has prompted some to consider whether a government might ban cryptocurrencies like bitcoin — and, perhaps more importantly, whether such a ban would be effective. For one thing, bitcoin is often cited as being a threat to traditional monetary systems, with the potential to undermine the control of central banks over the money supply. Chasing those down and prosecuting them all around the globe would be very difficult. Likewise, various government agencies, departments, and courts have classified bitcoins differently. It has banned cryptocurrency exchanges and initial coin offerings (icos). Specifically, dalio believes that btc could be outlawed by the united states government. While this article provides the legal status of bitcoin, regulations and bans that apply to this cryptocurrency likely extend to similar systems as well. I love reddit and more so because of the interesting comments written in the comment section. All that bitcoin needs to survive are two individuals that want to make a transaction and a miner. No one actually controls bitcoin, so governments' only chance. With the recent fud from south korea and china extending bans on cryptocurrency, the market has responded with a sea of red. The government can look into the regulatory policies adopted by countries that are betting big on this industry. Ideas on how government can ban cryptocurrency.
