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That's not entirely true. The law can make crypto currencies illegal and put them outside the banking system. The US government did this with online gambling pa
by rdlecler1 9y ago
That's not entirely true. The law can make crypto currencies illegal and put them outside the banking system. The US government did this with online gambling payment systems like NetellerC which severely crippled that industry. They also could potentially charge the founding developers and ICOs. Basically if the law makes it too difficult and non-convertible to real currencies and mainstream goods and services then they can exert the necessary influence that will either kill it or force change via the major actors.
- jacquesm 9y agoYes, and the more such laws a country makes the less relevant that country will be in international commerce. It's very hard to outlaw progress, it will simply route around you, there are many historical examples of this.
- yorwba 9y agoUnder the current situation, it's more like the more countries make such laws, the less relevant the respective cryptocurrency will be in international commerce. Last I checked, state-backed fiat currencies were still more important than anything crypto. And while it's hard to outlaw progress, it's also very hard to identify progress before it happens, and even then you can never be sure whether people won't go back to the previous system.