It has been around since the first token was dropped in 2009 The fight for control is going on in the digital world. This war is usually financially based, as countries seek to gain more control and security over decentralized exchanges and cryptocurrencies.
Here’s a brief look at some of the different perspectives of countries trying to close the door on cryptocurrencies.
A brief look at hatred
We will take a fundamental look at the history of crypto who are less well known in detail who may influence geographical and geopolitical perspectives. We will quickly dive into the history of those who are less familiar with cryptocurrencies: The first cryptocurrency to bless us was Bitcoin in 2009. Starting as an idea on paper, it became the $ 50K + top dog coin and blockchain it is entering the New York stock market through ETFs.
With an increase of 9,000,000% over the last decade, it is safe to say that Bitcoin is the founder and where this war started.
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As time went on and Bitcoin grew, more and more currencies began to emerge and made a mark in the world of digital currencies. In 2013, China tried to ban the currency and identified it as inadequate and illegal currency.
At the highest level, what makes these coins a hot product to control is the ability to use these coins across the web and buy a lot online and off. On top of that, it has become the new “gold rush”, as young and old investors have chosen to profit and grow on these coins – especially Bitcoin.
Bitcoin has long positioned itself as the top dog and face of crypto.: BTC on TradingView.com
Bolivia’s central bank was the first to issue government sanctions because they banned all types of currencies that were not regulated by the government. Bitcoin and other cryptocurrencies worldwide in June 2014. Many other countries have enacted laws to regulate and / or ban these coins.
Egypt has not yet made the ban official, but all cryptocurrencies are banned under Sharia law, According to Islamic law. Many countries fear that these coins could become more harmful after helping their economies, and the “war” around crypto has led some countries to legislate accordingly.
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The latest “war”: China’s sanctions
This year, China has made headlines banning all cryptocurrencies and crypto-mining indefinitely. The Chinese government has banned banks and exchanges from crypto-related activities. This is not really surprising after their efforts in 2013; In the meantime, their methods (or similar) have been adopted from countries such as Turkey, Algeria, Bangladesh, Egypt and Bolivia. Additionally, the UK throws a hammer on binaries for not meeting money laundering requirements.
It is especially difficult for countries, states and cities around the world to control and monitor blockchain activity, and how we use this new currency – the mystery of it and its ability to stay under the radar
Which countries will fight in this new era of financial war?