Can the government banned CryptoCurrencies?
Have you ever sat down and think of this question before as a CryptoCurrency investor? Well, you are in the right place to know the answer.
The truth is that CryptoCurrency can be banned by the government but if you are an investor, there should be no need for you to panic. Why? This is because, government can only ban CryptoCurrency but cannot stop it from growing.
Another thing you should have in mind as an investor is that Governments can ban cryptocurrencies and all exchange websites anytime and for any reason but they can do it only within their borders and jurisdictions. To kill cryptocurrencies, all governments from all over the world would have to ban them.
And What is the chance that the whole world will delegalize cryptocurrencies? To cut the long story short, the chance is very slim. In shot, it is almost impossible.
Even if some countries will try to ban cryptocurrencies, that will only create black markets. There is no way that government can stop people from downloading Bitcoin wallets and sending each other cryptocurrencies. Governments can declare cryptocurrency illegal but it will have no effect as they can’t control it due to the decentralized nature.
So instead of ban, what governments are doing is only to regulate CryptoCurrencies in their respective country, border or jurisdictions.
Therefore, if you are an investor, don’t panic because when it comes to CryptoCurrencies ,the government is more of your friend than your enemy. They have no choice, rather the best they can do is to regulate it.
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