This government, have they really taken time to study cryptocurrency and how it works? Do they know that even if they should ban crypto currency in the country that there will still be people who are making use of these crypto currencies and be able to trade them despite whatever ban they might have placed on it?
As for cryptocurrency mining, it is quite possible that the government can stop companies from mining cryptocurrency, because it is quite easy to spot the crypto miners wherever they might be. So, it is quite possible for them to stop it, which is one way I think that they can do something that will affect Bitcoin.
And this is because Bitcoin these days is not something that you can just mine from your home with your computer. This time around it requires a big mining farm and all that. I think if it was as it used to be before, then it would be even more difficult for them to stop mining. It is good that Russia didn’t ban it, but rather accepted it.
It is the big mistake of the countries who think that they will ban it and the use of it will be erased from the country while in actual they are losing themselves as people can use it anonymously and people will use it because of the benefits to them and the government will not be able to take the taxes. Those who study it on time found it to better is to accept it and those who will study later will regret to lose the taxes collections.
It is indeed a futile act if there is a country that prohibits the use of crypto, because still residents of that country can still use crypto. Because there
are many ways that can be done for people to keep using crypto even though they live in a country that does consider crypto illegal. Moreover,
crypto has several benefits that can help improve the economy of its users, so if many crypto users increase their economy, it will make
the country experience an increase in the economy as well. So why ban crypto, if crypto has many benefits. If crypto is legalized, the government
can also impose taxes on crypto users, this can increase state revenue. So for countries that still prohibit the use of crypto, must learn again
properly about crypto, so they realized their decision was wrong by considering crypto illegal.