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Cryptocurrency : Could Governments Ban Bitcoin and Cryptocurrencies? Yes and no






Let me clarify.

Governments may declare Bitcoin and cryptocurrencies unlawful, however that wouldn’t imply they may implement them. That’s the case for different issues, not simply cryptocurrencies. So there’s a distinction between declaration and execution. Everyone knows that simply because one thing is said unlawful doesn’t imply that it may be enforced. When you actually thought in any other case, you would need to assume that governments are all highly effective.

Nonetheless, governments may definitely hurt Bitcoin. By banning it, they’d severely weaken Bitcoin, though Bitcoin would nonetheless survive. They couldn’t totally apply it, however perfection shouldn’t be the related commonplace. What’s related is whether or not governments may hurt Bitcoin, and the reply is clearly ‘sure’. Due to this fact, now we have one other distinction: the excellence between weakening versus whole elimination.

Nonetheless, in my view, the most definitely situation is that governments will impose extra taxes on Bitcoin. That is our closing distinction: prohibition versus taxes. Whether or not you withdraw cash or use Coinbase, the US authorities will find out about your crypto and demand their share. They already do, so this isn’t science fiction. The alternative conclusion is that it isn’t simply science fiction, however illusions and a libertarian fantasy.

Photograph by Bermix Studio on Unsplash

About the author

Donna Miller

Donna is one of the oldest contributors of Gruntstuff and she has a unique perspective with regards to Science which makes her write news from the Science field. She aims to empower the readers with the delivery of apt factual analysis of various news pieces from Science. Donna has 3.5 years of experience in news-based content creation, and she is now an expert at it. She loves journalism, and that is the reason, she moved from a web content writer to a News writer, and she is loving it. She is a fun-loving woman who has very good connections with every team member. She makes the working environment cheerful which improves the team’s work productivity.

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