• About   |
  • Submit Guest Post |
  • Contact Us
No Result
View All Result
The Second Angle (TSA Magazine)
Advertise
  • Infotainment
    • Sports
    • People
    • Inspiring
  • Entertainment
    • Lifestyle
    • Home & Decoration
  • Buzz
  • Education
  • Travel
  • Finance
  • Healthcare
  • Technology
The Second Angle
No Result
View All Result
  • Infotainment
  • Entertainment
  • Buzz
  • Education
  • Travel
  • Finance
  • Healthcare
  • Technology
Advertisement
ADVERTISEMENT
Lexitoto
Slot Demo
RTP SLOT
Lexitoto
Aplikasi Lexitoto
RTP Lexitoto
RTP IDN Slot
RTP PG Soft
RTP Habanero
RTP Microgaming
RTP TopTrend Gaming
RTP GMW
RTP Nolimit City
RTP Booster
Slot Demo Bambu4d
Slot Demo PG Soft
Slot Demo Habanero
Situ Togel Online
Situs Togel Amanah
Lexitoto
Lexitoto
Lexitoto
Lexitoto
Lexitoto
Lexitoto
Lexitoto
Lexitoto
Lexitoto
Lexitoto
Lexitoto
Lexitoto
Lexitoto
Lexitoto
Lexitoto
Lexitoto
Lexitoto
Prediksi Togel Lexitoto
Slot Demo PG Soft
Lexitoto
Lexitoto
Lexitoto
Lexitoto
Lexitoto
Lexitoto
Lexitoto
Tips dan Trik Slot Gacor
Prediksi Togel Lexitoto
Lexitoto
Vietnam Lottery
Syair HK
Octagon Lottery
Bandar Situs Togel
Situs Slot Gacor
Bocoran Slot Gacor
Lexitoto
Togel Toto Macau
Situs Togel Macau
Prediksi Macau
Bambu4d
Prediksi Togel Bambu4d
Slot Gacor Bet Kecil
Bambu4d
Bambu4d
Bambu4d
Bambu4d
Bambu4d
Bambu4d
Bambu4d
Bambu4d
Situs Togel Online
Aplikasi Bambu4d
Aplikasi RTP Slot
Aplikasi RTP Booster
Aplikasi Slot Demo
Aplikasi Prediksi Togel
RTP Bambu4d
RTP IDN Slot
RTP PG Soft
RTP Habanero
RTP Microgaming
RTP TopTrend Gaming
RTP GMW
RTP Nolimit City
RTP Playstar
RTP Booster
Slot Demo Bambu4d
Slot Demo PG Soft
Slot Demo Habanero
Bambu4d
Bambu4d
Bambu4d
Bambu4d
Bambu4d
Bambu4d
Bambu4d
Bambu4d
Bambu4d
Bambu4d
Bambu4d
Bambu4d
Bambu4d
Bambu4d
Bambu4d
Bambu4d
Bambu4d
Bambu4d
Bambu4d
Prediksi Togel Bambu4d
Bambu4d
Toto Macau
Live Draw HK
Live Draw SDY
Toto Macau
Bandar Togel
https://bluewaveslogistics.com/
Prediksi Syair Taiwan
Situs Toto
Slot Gacor
RTP Slot Gacor
Prediksi Syair HK
Prediksi Syair HK
Prediksi SGP
Prediksi SGP
Prediksi Syair Cambodia
Prediksi Cambodia
Prediksi Cambodia
Prediksi Syair China
Prediksi Syair China
Prediksi Syair SDY
Prediksi PCSO
Syair SDY
SYAIR HK
Situs Togel
Paito SGP
Paito HK
Paito SDY
Prediksi Macau
Live Draw Cambodia
Prediksi Jepang
Situs Togel
Slot Thailand
Live Draw Cambodia
Live SGP
lexitoto
Live Macau
RTP SLOT
hinterlaces.com RTP Slot
Rtp Slot
situs toto
lexitoto
slot deposit pulsa
lexitoto
Data Pengeluaran HK
Prediksi Cambodia
Toto Slot
PREDIKSI SDY
Live Draw HK
Prediksi Macau
Prediksi Cambodia
SYAIR SDY
Prediksi Macau
Slot Pulsa
Prediksi Cambodia
Lexitoto
SYAIR SGP
Toto Slot
Prediksi HK
Situs Slot Gacor
SYAIR MACAU
RTP SLOT HARI INI
Slot Pulsa
Slot Thailand
Prediksi Cambodia
Home Economy

Crypto Banned Nations And The Upheaval

Nations fear the digital currency as a threat to their economy and financial policies.

Kumar Nigam by Kumar Nigam
March 11, 2022
in Economy
Reading Time: 3 mins read
Crypto Banned Nations And The Upheaval
Share on FacebookShare on WhatsApp
Advertisement Advertisement Advertisement
ADVERTISEMENT

Cryptocurrency has never been an easy-going affair for the government ever since it surfaced in 2009. A programmer or maybe a group of programmers with a pseudonym Satoshi Nakamoto launched the decentralized digital currencies with blockchain technology named Bitcoin and laid the foundation stone for more Altcoins(Cryptocurrencies that emerged after Bitcoin). These currencies face major criticism for being volatile, and heavy electricity consumption for mining. 

According to the Bitcoin Energy Consumption Index issued by The Digiconomist, 1,544 kWh energy is consumed in completion of a single Bitcoin transaction, which is equivalent to 53 days of power consumption of average households in the US.

Crypto Banned Nations And The Upheaval
image source: forbesindia

Whereas, the developing world sees it as a fail-safe option for future economic turbulence.

With all of these rising numbers of crypto investors and their reach, governments are trying to regulate restrictions around transactions. The cryptocurrency and government relations vary in different nations with different legal policies.

RelatedPosts

What are the Different Types of Small Business Loans?

What are the Different Types of Small Business Loans?

Everything You Need to Know about Banglarbhumi West Bengal

Everything You Need to Know about Banglarbhumi West Bengal

Some countries encounter legal changes frequently and some have well-defined structures which work smoothly. Some countries outrightly ban the purchase, buy, and possession of Cryptocurrencies, whereas, some countries impose limitations on the transaction methods.

Crypto Banned Nations And The Upheaval
image source: moneycontrol

Algeria, Bolivia, Egypt(declaring it as Haram), Indonesia, Nepal, North Macedonia(only a European country) are some of the nations with a complete ban on the purchase, sale, and possession of Bitcoin as well as Altcoins.

China’s government persistently issues warnings to not indulge in the digital asset market, crypto mining, and exchange of currency. People’s Bank of China or PBoC sees cryptocurrency as a threat to China’s e-currency as it plans to launch its digital currency. And they suggest people protect their pockets from crypto.

Columbian financial institutions are restricted to trade in Bitcoins as the Superintendencia Financiera believes that the institutions might not be able to manage these virtual money transactions.

Crypto Banned Nations And The Upheaval
image source: telegraphindia

Approx 4.5% of the Bitcoin mining happening in the world takes place in Iran. Iranian regime offers cheap energy to the miners and gets all that deposited in their Central Bank. The country’s Central Bank has encouraged indigenous mining, offering bonuses and refraining from trading in overseas mined currency. Meanwhile, Iran has imposed a four-month ban on the mining of Bitcoin till 22 September due to illegal mining.

Russian President Vladimir Putin has referred to overseas trading of crypto as a criminal offense. The government has imposed taxes on crypto assets and civil servants are not allowed to possess them.

Turkey has seen immense use of digital currency this year due to inflation. Later, the government banned direct or indirect payment for purchase and sale in the country and put the exchange practice under Anti-Money Laundering and Terrorism Financing acts.

In India, cryptocurrency emerged in 2013 and there were no regulations and restrictions. Later, in 2017 when the RBI saw rapidly increasing investors of a non-governed, non-banking, zero policy, zero advisory assets, they jumped into the scene and banned all banks under them to exchange currencies in crypto and vice-versa.

But the apex court overruled the controversial circular following a petition by the crypto exchanges and Internet and Mobile Association of India (IAMAI). The Reserve Bank of India also plans to launch its digital currency and for now, the Official Digital Currency Bill 2021 has been put on hold.

Also Read: Finance minister chairs BRICS virtual meeting ahead of the Summit focusses on economic recovery after the pandemic

ShareSendTweet

Related Posts

What are the Different Types of Small Business Loans?
Economy

What are the Different Types of Small Business Loans?

choosing the right type of small Business Loan that is affordable and fulfils the funding requirement adequately is imperative. Here...

Read moreDetails
Everything You Need to Know about Banglarbhumi West Bengal
Economy

Everything You Need to Know about Banglarbhumi West Bengal

With the launch of Banglarbhumi, an online portal of West Bengal's land and property records department, citizens can now easily...

Read moreDetails
8 Reasons to Use a Housing Loan EMI Calculator
Economy

8 Reasons to Use a Housing Loan EMI Calculator

Home loan EMI calculators are readily available online; all a borrower has to do is go to the webpage of...

Read moreDetails
Some governments believe that it should be banned altogether, while others think that it should be regulated in the same way as traditional currency. So far, no country has come up with a perfect solution, and the future of cryptocurrency is still uncertain.
Business

Governments Struggle to Balance Cryptocurrency Regulation: How Will It Impact the Future of Digital Currency?

Some governments believe that it should be banned altogether, while others think that it should be regulated in the same...

Read moreDetails
Want To Learn How to Read Your Credit Card Statement?
Business

Want To Learn How to Read Your Credit Card Statement?

A credit card statement can be defined as a document that provides a comprehensive summary of how the credit card...

Read moreDetails
QR Code: Convenient and safe mode of digital payments
Economy

QR Code: Convenient and safe mode of digital payments

In the retail world, QR codes may be utilized in various techniques. QR Codes may help merchants engage with e-commerce...

Read moreDetails
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest

7 Best Places To Visit In Japan

7 Best Places To Visit In Japan

Top 7 Breakout Stars From Indian Web Series

Top 7 Breakout Stars From Indian Web Series

5 Lesser Known Places In Maharashtra

5 Lesser Known Places In Maharashtra

ADVERTISEMENT

About

The Second Angle

The Second Angle (TSA) Magazine covers a broad spectrum of topics including Entertainment, Lifestyle, education, Crypto, iGaming, Technology, fashion, beauty, relationships, celebrities, wellness, travel, and food. It also features user-generated content in the form of tips, guest post, forums, polls, contests and other interactive articles.

Important Links

  • About
  • Guest Post
  • Privacy Policy
  • Terms
  • Contact Us
  • Newsletter
ADVERTISEMENT

© 2017-23. The Second Angle. All Rights Reserved. Developed and Managed by SquareBase.io

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Infotainment
    • Sports
    • People
    • Inspiring
  • Entertainment
    • Lifestyle
    • Home & Decoration
  • Buzz
  • Education
  • Travel
  • Finance
  • Healthcare
  • Technology

© 2017-23. The Second Angle. All Rights Reserved. Developed and Managed by SquareBase.io

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.