Another brix country working against cryptokrunge
Bitcoin values have fallen drastically since the end of last year, up to 1500 percent
Cryptocurcules enjoy a different storm after Brazil bans funds from their investments. The decision that comes due to concerns about the validity of Cryptocurrency-based transactions puts a question mark in their future.
According to a Reuters report, South American state market regulator Comisa de Wallace Mobililar (CVM) has said that cryptokultual cannot be considered financial assets and there is a legal ban on the use of funds.
"The technical section explains that cryptokulualizations can not qualify for financial resources ... and that is why they are not allowed to directly invest in funds through investment funds."
Although the initial verdict does not directly direct them to those who want to invest in cryptucclaution by using foreign funds, it has shown a worldwide trend that the increasingly suspicious and opposing view of crytrendsmen's trading is seen. Regulators throughout the world are taking steps to bring a check on cryptocoortation in South Korea, in the process of completely ban cryptoconutants.
Countries who don't understand and don't try to understand cryptos are banning the trade of all types of coins and exchanges because they are a threat to the economic power of the government. Imagine a world where governments around the world cannot freely print money whenever they want, nor can they increase taxes to harm the poor while the rich circumvent taxation laws to enrich themselves. Cryptocurrencies are a revolution of the age of the Internet.
geez
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Nice post
@i-gordan thanks for reading
@emonnaim01
Isn't the problem that crypto'currencies' aren't actual currencies yet?
More needs to happen before it can actually replace existing currencies.
It feels a bit like 'anyone' can just create a new currency with like one million, one billion or why not one quadrillion coins.
And then let 'the market' jump on this new exciting coin. The coins don't replace anything yet. Like before gold was taken out of the system and paper money was introduced.
So I think we're only at the beginning of what will probably one day revolutionise the financial market.
And of course, I don't understand enough of the whole economy behind it (yet? ;) ).
They are here to stay though... since they can't be stopped anyway ;)
@emonnaim01 in your opinion will it go up or will blow like a bubble as most streetwall guys said? In my opinion tho, it will likely go up. And less likely exploding.
They want to control the money of the people cause crypocurrency is slowly but steadily eating the market and banks can't do a thing about it... Unless they ban the whole thing, that's the sad part.