Hey Everyone, welcomes back to My blog Crypto Times and Hopes you Guys are doing good. So This article on Towards the End of Cryptocurrency- Ban | Turkey | Ireland | India | Next
Sorry for the Rude Title but the Situation in Some Countries regarding Cryptocurrency is Bad. Currently banning and making Strict policy on Cryptocurrency created a problem for the Bussiness, Indusrite, and Investor who invested a lot of asset in the crypto market. So today I tell you about those countries that are not accepting the change in Currency.
Turkey
It is known as the “lands of Turks” located in Western Asia. Currently, in April, the Central bank of Turkey ban Cryptocurrency in its Countries. Then the Crypto investor started the protest against the law. But After Two-three parliament sessions Government stopped all Debates on Cryptocurrency. The government of Turkey Tells parliament that they didn’t want any discussion on nonsense topics.
Effects on other Nations
Turkey is an Islamist country and part of one of the Biggest Group Organisation of Islamic Cooperation (OIC) and it is the prominent member after Saudi Arabia and Iran. And the Economy of approx 20 countries depends on Turkey’s Economy. So may they started Ban on cryptocurrency in their countries.
Ireland
Ireland is the island of the North Atlantic, Yesterday Ireland passes a Strict law on parliament related to the use of CryptoCurrency and told all Cryptocurrency companies to register with the Central bank of Ireland. And Follow the sixth anti-money laundering guidelines (6AMLD) norms.
India
It is the 2nd highest populated country in the world located in Asia. Currently, the Situation in India is not Good due to Corona Second Wave and Some protests against the Government. And that is the main reason for Still India did not Declare a ban on Cryptocurrency.
Last month Finance minister of India announced that India Ban on CryptoCurrency and make a strict law on Crypto holders. Indian Government thinking on the launches of its Digital Currency like as China and Ban all Cryptocurrency. But Due to less knowledge and penetration of Crypto between peoples In India is less protest against the upcoming Law.
According to Finance minister and from an Unknown source, India will ban all Cryptocurrency for Indian People but they open Windows for Big Companies and multinational Company to do their business in the form of Cryptocurrency.
Effects on other Nation
India is a big and powerful Nation, So the decision on Crypto Ban make tension in other countries like the United state of America, Japan, Saudi Arabia, and Neighbour nation like Pakisthan and Shre Lanka. Bhutan and Nepal’s Economy depend on India Economy due to past contract made by those nations with India. And ban on Cryptocurrency by the Top big and Most powerful countries of Asia by China and India will help other government of Asian Nation to Ban on CryptoCurrency.
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