Dutch finance minister Wopke Hoekstra is confident that supervision is more effective than banning crypto outright.
South Korea moves to ban cross trading for crypto exchanges
South Korean crypto exchanges are groaning under a new proposal that will prevent them from converting trading fees to fiat currency.
Chinese social media giant Weibo reportedly bans crypto-related accounts
The government doesn’t want a Chinese version of Elon Musk, an expert said.
Crypto will ‘come to life’ in Nigeria, central bank governor says
Emefiele said the Nigerian government will do its best to prevent crypto from being used to finance illicit activities.
Bitcoin mining banned in Iran until September
Iran’s government has placed an immediate embargo on Bitcoin and crypto mining to preserve electricity over the summer months.
Shanghai Man: China’s annual ban explained, ‘crypto crash’ trending … and more
A breakdown of major regulatory announcements in China after latest warning, and a major event at the Shanghai Belagio for the blockchain scene
Mercurial on crypto: Will India’s latest stance lead to positive regulation?
Indian officials are switching their stance on crypto, but the country’s regulatory environment may have additional bottlenecks in store.
Turkey to ban cryptocurrency payments
Turkey’s central bank is also banning payment providers from offering fiat-to-crypto onramps for cryptocurrency exchanges.
Hedge FUD manager: Ray Dalio says ‘good probability’ of a US Bitcoin ban
The U.S. could repeat its 1930s ban on gold ownership but for Bitcoin.
Study Shows Soon To Be Banned India Is Second Most Interested Country In Crypto
The soaring interest surrounding crypto assets like Bitcoin, Ethereum, and other altcoins, is highly centralized in the United States compared to the rest of the world. However, a new study shows that India ranks second, behind only the US in terms of overall interest in digital currencies.
What’s notable about this new finding, is that the country is expected to make a landmark move in banning its citizens from transacting in cryptocurrencies. Here’s how other countries rank in terms of overall interest, as well as what the rising interest in India means for any potential ban.
US Dominates Interest In Crypto Assets, Top Ten Countries Ranked And Revealed
Bitcoin adoption is spreading like wildfire all across the globe, but nowhere else more so than on Wall Street and the rest of the US. Data supporting the most crypto industry interest stemming from the United States has existed for a long time now, but is once again backed up in a new study.
Related Reading | How Bitcoin Will Become A “Report Card” On The Government
The US has more than three times the search volume as the next county ranked on the list, reaching more than 7000 queries per day. Interestingly, right behind the United States is India – a country that could soon see Bitcoin and other crypto assets like Ethereum, DeFi tokens, and NFTs all banned.
Below the US and India, ranks the United Kingdom, Indonesia, Canada, Vietnam, Australia, Nigeria, the Philippines, and Thailand to round out the top ten. The rest of the top twenty consists of more European and Asian countries, as well as South Africa.
Explosive Bitcoin growth has governments shaken. Could crypto eventually replace fiat? | Source: BTCUSD on TradingView.com
Why India Banning Bitcoin Is A Very Bad Idea That Could Backfire
With interest so high in India compared to the rest of the world, its government is potentially making a grave mistake if it does choose to pass a law banning the ownership, trade, storage, mining, and more of cryptocurrencies.
Decentralized digital currencies are censorship resistant, and if stored in a user-owned cold storage wallet, cannot be confiscated. The government will have a hard time prying the assets from the offline accounts of its citizens, regardless of any law it passes.
Related Reading | Domino Effect: Is India The Start Of Weaker Governments Banning Bitcoin?
Bitcoin was created to be used without the need for a third-party intermediary for this very reason. India is planning to introduce its own digital currency, and sees cryptocurrencies currently as a threat.
However, in establishing laws to prevent its spread, the government in India might end up fueling its growth and adoption even further.
Featured image from Deposit Photos, Charts from TradingView.com
Crypto Media Banned From WeChat In Sudden Online Sweep
Blockchain and cryptocurrency media accounts in China have been banned on WeChat, the messenger app owned by Tencent.
India’s Supreme Court Pushes Crypto Banking Ban Hearing to September
A Supreme Court decision on the Reserve Bank of India’s efforts to bar crypto firms from receiving banking services has been pushed to September.
Facebook Relaxes Ban, Accepts Some Crypto Ads
Now, at least some, crypto advertisers will find that they can post crypto ads on Facebook – if they are approved through an application process.