Post
Topic
Board Economics
Re: Use of cryptocurrencies, a concern – IMF
by
so98nn
on 20/02/2021, 10:58:04 UTC
Central banks that ban bitcoin only encouraging p2p.

After reading your post and at the last this statement hit me hard!! Nonetheless they might be thinking about it in the background but since p2p work based on the mutual consent no one can surely track down whether this is crypto transaction or not. It could be just normal business sending money, or relatives getting their money back from other relatives etc etc.

But this will eventually have worst effect on economy if it happened on mass level. The reason is simple, p2p transactions might be shown as temporary money, lenders money, emergency or anything which may not get taxed at the year end thus its loss of government itself.