The battle between tokens and crypto bans

The battle between tokens and crypto bans


Since the first token drop in 2009, It is a battle for control in the digital world. This war is usually based on finances, as countries try to ensure greater control and control over decentralized exchanges and cryptocurrencies.

The following is a brief introduction to some of the different views of countries trying to close the door of cryptocurrency.

A brief introduction to hatred

For those who are not familiar with the details that may affect geographic and geopolitical views, we will fundamentally understand the history of encryption. For those who are not familiar with cryptocurrency and its history, we will quickly learn more about it: The first cryptocurrency that blessed us was Bitcoin in 2009. Starting from the idea of ??talking on paper, it has grown into a top currency of more than 50,000 US dollars and the blockchain is looking for a way to enter the New York stock market through ETFs.

Bitcoin has risen by 9,000,000% in the past ten years. It is safe to say that Bitcoin is the founder and beginning of this war.

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With the passage of time and the growth of Bitcoin, more coins began to appear and left their mark in the digital currency world. In 2013, China tried to ban the coin and label it as insufficient and illegal currency.

At a high level, what makes these tokens a hot commodity that needs to be controlled is the ability to use these tokens on the network to buy and buy many things online and offline. Most importantly, it has formed a new “gold rush” because both young and old investors like the profits and growth of these tokens-especially Bitcoin.

Bitcoin has long positioned itself as the top dog and face of crypto.: BTC on

The first to issue a formal ban was the Central Bank of Bolivia because they banned all forms of currency that are not regulated by the government, including In June 2014, Bitcoin and other cryptocurrencies around the world. Since then many other countries have created loopholes and laws to regulate and/or prohibit these coins.

Egypt has not officially issued a ban, but according to Sharia law, the use of all cryptocurrencies is prohibited. According to Islamic law. Many countries worry that these coins may become more helpful than their economies, and the “war” around cryptocurrencies has led some countries to enact laws accordingly.

related Read | The value of Ethereum held by miners reaches a five-year record high

The latest “war”: China’s ban

This year, China has banned all cryptocurrency and cryptocurrency mining indefinitely, making headlines again. The Chinese government began to let banks and exchanges shut down crypto-related activities. After their attempts date back to 2013, this is really not surprising. At the same time, their methods (or similar methods) have also been adopted by countries such as Turkey, Algeria, Bangladesh, Egypt, and Bolivia. In addition, the United Kingdom also criticized Binance for failing to meet money laundering requirements.

Countries, states, and cities around the world are particularly difficult to monitor and monitor activities on the blockchain, and how we use this new form of currency-emphasizing its mystery and the ability to keep a low profile when it comes to manufacturing transactions.

In this new era of financial wars, which countries will fight?

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