A country's legislators can ban whatever it wants. Lawmakers hold the keys to the kingdom, so to speak. So if they want to ban cryptocurrency, toilet paper, bacon bits, plastic products, or umbrellas, it's well within their authority to do so. However, as kings of long ago discovered, there are social repercussions to certain legal actions. They might ban cryptocurrencies, but citizens can always circumvent the laws as long as they are willing to take the risks associated with doing so. For many people living under oppressive regimes, it's a risk worth taking. In some countries, the economy is so bad that cryptocurrencies are their only hope.
Long story short, yes, countries can ban cryptocurrencies, but it isn't necessarily wise to do so.
They can pass laws which forbid use of cryptocurrency but they can never take away your rights to use them because it's out of their reach. They can't tap into the blockchain and connenct you with your wallet. The time you would get into trouble would be if you tried to exchange cryptocurrency for government issued toilet paper *khm* which fiat currencies are.
That's when they could track you down and link your wallet to your identity. But then again, there would be many different ways to circumvent this kind of oppression like buying technology goods like pc, tv, camera or anything of that sort with cryptocurrency and then sell it for fiat.
Conclusion
They can try but, they will never be successfull because people will always find a way to go around the obstacles they place in front of them.
Countries can ban the user of cryptocurrency completely depending on their own discretion. One major reason is it threatens their authority of everything. Cryptocurrencies are made to be decentralized, giving the power back to the people and that's what they are completely afraid of.
With a definite reasoning and authority, they can completely ban cryptocurrency especially if they introduce a new form of technology that benefits more equally.
Another reason of banning it for me is crytpocurrency brings chaos and war to countries. Because it is decentralized and some transactions are encrypted, they are known to be used for fraudulent activities. Criminals, drugs, and hidden transactions were done using cryptocurrencies because they cannot easily be tracked using it.
Country can ban Cryptocurrency and their exchanges with legal rules as they like. Like recently in India when RBI said that they will ban it - banks connected with exchange stopped taking Deposit and Withdrawals and all the money freeze in exchange as no one able to withdraw it through banks. But later exchanges come up with solution like Peer to Peer, Coupons any many more so it started as usual. Even government ban it people will find a way to ignore it and do it anyway. As they may ban things under their border but not beyond that.
There is many possibilities for this. So as said we can answer with "Yes" as well as "No"
A country can pretty much do what it likes. We're seeing it now in the western world. Leaders are stepping up to the task and completely ignoring the public wants and needs. That being said though there's only so long you can poke a sleeping alligator before it wakes up and bites your arm off :)
Of course, if they consider that they are a threat to the economy of the country they can do it. They can also do it in case there are many frauds associated with these, which would be a measure to protect the citizens of that country.
Yes, this is true. While it is true that Cryptocurrency brings a lot of positivity and power to back to people, making it decentralized - it is also true that its risk of dominating the world in the hands of evil people will prevail.
When a country sees the threat of allowing cryptocurrencies to dominate the nation, they can completely ban it. Another thing to realize will also be utilizing other potential inventions which are at least greater than cryptocurrencies without thinking of the casualties.
Another important reason will be authority and sovereignity. Countries will ban crypocurrency because it threatens their power to rule. Cryptocurrencies are meant to be decentralized and will forever be. I can sense that with the direction of cryptocurrency is going, there will always be countries that are against it.
A country's legislators can ban whatever it wants. Lawmakers hold the keys to the kingdom, so to speak. So if they want to ban cryptocurrency, toilet paper, bacon bits, plastic products, or umbrellas, it's well within their authority to do so. However, as kings of long ago discovered, there are social repercussions to certain legal actions. They might ban cryptocurrencies, but citizens can always circumvent the laws as long as they are willing to take the risks associated with doing so. For many people living under oppressive regimes, it's a risk worth taking. In some countries, the economy is so bad that cryptocurrencies are their only hope.
Long story short, yes, countries can ban cryptocurrencies, but it isn't necessarily wise to do so.
Yes and no.
They can pass laws which forbid use of cryptocurrency but they can never take away your rights to use them because it's out of their reach. They can't tap into the blockchain and connenct you with your wallet. The time you would get into trouble would be if you tried to exchange cryptocurrency for government issued toilet paper *khm* which fiat currencies are.
That's when they could track you down and link your wallet to your identity. But then again, there would be many different ways to circumvent this kind of oppression like buying technology goods like pc, tv, camera or anything of that sort with cryptocurrency and then sell it for fiat.
Conclusion
They can try but, they will never be successfull because people will always find a way to go around the obstacles they place in front of them.
YES
Countries can ban the user of cryptocurrency completely depending on their own discretion. One major reason is it threatens their authority of everything. Cryptocurrencies are made to be decentralized, giving the power back to the people and that's what they are completely afraid of.
With a definite reasoning and authority, they can completely ban cryptocurrency especially if they introduce a new form of technology that benefits more equally.
Another reason of banning it for me is crytpocurrency brings chaos and war to countries. Because it is decentralized and some transactions are encrypted, they are known to be used for fraudulent activities. Criminals, drugs, and hidden transactions were done using cryptocurrencies because they cannot easily be tracked using it.
We can answer it with "YES" & "NO" both.
Country can ban Cryptocurrency and their exchanges with legal rules as they like. Like recently in India when RBI said that they will ban it - banks connected with exchange stopped taking Deposit and Withdrawals and all the money freeze in exchange as no one able to withdraw it through banks. But later exchanges come up with solution like Peer to Peer, Coupons any many more so it started as usual. Even government ban it people will find a way to ignore it and do it anyway. As they may ban things under their border but not beyond that.
There is many possibilities for this. So as said we can answer with "Yes" as well as "No"
A country can pretty much do what it likes. We're seeing it now in the western world. Leaders are stepping up to the task and completely ignoring the public wants and needs. That being said though there's only so long you can poke a sleeping alligator before it wakes up and bites your arm off :)
Of course, if they consider that they are a threat to the economy of the country they can do it. They can also do it in case there are many frauds associated with these, which would be a measure to protect the citizens of that country.
Moved to the Hive platform.
Well sure they can ban cryptocurrency ...
But that will not stop people from using it ... Because they can t take down a P2P Network like Bitcoin.
Yes, this is true. While it is true that Cryptocurrency brings a lot of positivity and power to back to people, making it decentralized - it is also true that its risk of dominating the world in the hands of evil people will prevail.
When a country sees the threat of allowing cryptocurrencies to dominate the nation, they can completely ban it. Another thing to realize will also be utilizing other potential inventions which are at least greater than cryptocurrencies without thinking of the casualties.
Another important reason will be authority and sovereignity. Countries will ban crypocurrency because it threatens their power to rule. Cryptocurrencies are meant to be decentralized and will forever be. I can sense that with the direction of cryptocurrency is going, there will always be countries that are against it.
They can but it would be the same as banning the tide coming in.