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+--- Thread: Cuba to recognise and regulate cryptocurrency (/Thread-Cuba-to-recognise-and-regulate-cryptocurrency)
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RE: Cuba to recognise and regulate cryptocurrency - codeniko - 12-19-2023
This made me think... So what is to happen if US decides to completely abolish use of crypto because they can't regulate it efficiently? Coinbase disperses for US based Users, and they make a law so US Banks cannot transfer any funds to any Crypto related exchange services that happens to be hosted outside the US. If other countries follow along, how will it actually stay unregulated and useful?
RE: Cuba to recognise and regulate cryptocurrency - soul_hunter - 12-19-2023
(12-19-2023, 09:21 PM)codeniko Wrote: This made me think... So what is to happen if US decides to completely abolish use of crypto because they can't regulate it efficiently? Coinbase disperses for US based Users, and they make a law so US Banks cannot transfer any funds to any Crypto related exchange services that happens to be hosted outside the US. If other countries follow along, how will it actually stay unregulated and useful?US will be fu**ed, you cant abolish crypto just by banning fiat -> crypto -> fiat conversions, it will only be harder to convert, but not impossible
but with the current hype in US about BTC etf's i doubt such scenario
RE: Cuba to recognise and regulate cryptocurrency - Trashylol - 12-20-2023
How do you even regulate crypto
RE: Cuba to recognise and regulate cryptocurrency - codeniko - 12-20-2023
(12-19-2023, 09:58 PM)soul_hunter Wrote:(12-19-2023, 09:21 PM)codeniko Wrote: This made me think... So what is to happen if US decides to completely abolish use of crypto because they can't regulate it efficiently? Coinbase disperses for US based Users, and they make a law so US Banks cannot transfer any funds to any Crypto related exchange services that happens to be hosted outside the US. If other countries follow along, how will it actually stay unregulated and useful?US will be fu**ed, you cant abolish crypto just by banning fiat -> crypto -> fiat conversions, it will only be harder to convert, but not impossible
but with the current hype in US about BTC etf's i doubt such scenario
Why not, didnt they do that with Binance in US? They certainly have the power to pass these laws and they regulate banks to to be able to enforce these laws. The fiat exchanged into crypto is pulled from the banks. Only solution is to setup a bank overseas as a US citizen but how many banks do you know where you can do that? All the exchanges require KYC too so they will know it's you from the US
RE: Cuba to recognise and regulate cryptocurrency - soul_hunter - 12-20-2023
(12-20-2023, 04:54 AM)codeniko Wrote:you cant really ban crypto, you can make it hard to access it, but not ban completely, you will always find some one IRL who will take it for cash or sell it for cash, if government could completely ban something i thing we wouldn't see some stuff in streets as it is now(12-19-2023, 09:58 PM)soul_hunter Wrote:(12-19-2023, 09:21 PM)codeniko Wrote: This made me think... So what is to happen if US decides to completely abolish use of crypto because they can't regulate it efficiently? Coinbase disperses for US based Users, and they make a law so US Banks cannot transfer any funds to any Crypto related exchange services that happens to be hosted outside the US. If other countries follow along, how will it actually stay unregulated and useful?US will be fu**ed, you cant abolish crypto just by banning fiat -> crypto -> fiat conversions, it will only be harder to convert, but not impossible
but with the current hype in US about BTC etf's i doubt such scenario
Why not, didnt they do that with Binance in US? They certainly have the power to pass these laws and they regulate banks to to be able to enforce these laws. The fiat exchanged into crypto is pulled from the banks. Only solution is to setup a bank overseas as a US citizen but how many banks do you know where you can do that? All the exchanges require KYC too so they will know it's you from the US
if US decides to ban crypto, then there is the rest of the world who would use it
US is not really a country that needs crypto most
RE: Cuba to recognise and regulate cryptocurrency - Jimjef - 12-22-2023
God damn thats veazy duuudeeee whatt
RE: Cuba to recognise and regulate cryptocurrency - easpontan - 12-25-2023
I wonder how they're gonna regulate cryptocurrencies... Isn't the entire point that it's unregulated
RE: Cuba to recognise and regulate cryptocurrency - goku777 - 12-27-2023
... Isn't the entire point that crypto is unregulated??????