Can they ban crypto?

Banning cryptocurrency is sort of a technological challenge so even when some countries are considering banning there is little to no success in that direction. However, some people living under repressive regimes have to invest more effort to circumvent the challenges.

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This is not the news. For years there is a genuine concern if the government decides to ban crypto and some think that it is just a matter of time when this will happen. People are confronted with the fact that it is inviable.

Government control and monetary system are being under threat of the cryptocurrencies and many people still think that they are the main player in various crimes against society and that they only assist criminals. But, only a handful of cryptocurrencies are truly anonymous and the rest are traceable. But, cryptocurrencies are already officially banned in several countries - Algeria, Ecuador, Egypt, Nepal, and Pakistan. They not only ban those but prohibit you to deal with them in any way, own it, accept it or use it in any way. Saudi Arabia and Taiwan have a partial ban on cryptocurrency preventing banks from dealing with cryptocurrency transactions.

Can governments ban crypto? No, but they can diminish the crypto values by providing a better monetary alternative.


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