4 ms·
As far as I understand it this is a move by governments to prevent money from leaving their borders. VND is a currency useful only in Vietnam. Bitcoin has no bo
by brad0 9y ago
As far as I understand it this is a move by governments to prevent money from leaving their borders. VND is a currency useful only in Vietnam. Bitcoin has no borders - this means they can't constrain that value inside the country.
I feel like I've only scratched the surface as to why governments would want to do this. What else is there?
- influx 9y agoCould make the case it is used for black market purchases or funding terrorists, or rogue governments.
- Fast_Sasquatch 9y agoso... same as paper money then? quick better outlaw that too.
- Redoubts 9y agoWell, this is why large denomination notes have been taken out of circulation...
- dangerbird2 9y agoThere is a limited supply of U.S. dollars in a country like Vietnam, which naturally limits its use in illicit trade. Both paper money and cryptocurrencies have to be converted into "clean" money that can be deposited into banks to pay taxes and expenses. While paper money requires expensive and potentially dangerous laundering operations lest you end up with warehouses full of bills, you can hold crypocurrencies in a wallet for no cost until its needed to be laundered and exchanged for real income.
- tehlike 9y agoTax evasion.
- cstrat 9y agoMoney laundering & bribery