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RE: STEEM gets a positive rating and 50 Cent is now 700 BTC

in #money7 years ago

Hi! There are only few countries that completely ban bitcoin; such as Bolivia, Thailand and Bangladesh. Russia and Ecuador banned cryptocurrencies but they have their own digital currencies (CryptoRuble for Russia) backed by their government. Other countries like China and India imposes cryptocurrency usage ban on banks and crypto mining; however, crypto trading is still legal in these countries. In the past months, there are rumors that China and South Korea will completely ban cryptocurrency trading, but as you can see it now, it looks like they have retracted all their plans to ban it but impose regulations instead. Analyzing the news and these information, it looks like that governments are also positive in the usage of the cryptocurrency; however, they want to impose regulations and taxes to ensure that they will gain a portion of your earning and at the same time they can see and control the usage of the cryptocurrencies. Some things that make the government worry are the illegal applications and money laundering, which will be controlled by the regulations to be imposed. So, for me, I guess cryptocurrencies has a bright future 😁.