Struggles In Cryptocurrency Restricted Countries

in GEMS3 years ago



First of all hello, it's been quite a long time since I last posted here and for good reasons too. I've been having problems sorting out my career as well as my mental well-being. That being said, I was also partly unmotivated due to the fact that cryptocurrency is illegal in my country and will be for a very long time.

Crypto is Banned in my Country

Bitcoin/Cryptocurrencies has been outlawed in my country since 2017/2018 which basically means that people residing here can not perform activities such as buying/selling, trading, or even mining cryptocurrencies. Last week the government also released a new notice and urged that all concerned people to refrain from such illegal activities and has said that stringent action will be taken against the wrongdoers as per the law.

This is unfortunate for people who are into cryptocurrencies as they have no other choice but to stay away from digital currencies. I mean they can still do all these behind the scenes, but they have been reports of the government cracking down on crypto-related activities and being prosecuted for it.

Bitcoin has grabbed the attention of the mass. Many people, online media, blogs have been covering stories about it endlessly. However recent notice by the government urged people to stop promoting cryptocurrencies in any form.

Despite all these warnings, I know for a fact that a large number of people are still invested into cryptocurrencies and have made huge profits as well.

Personally, I believe legalization is still not possible in my country due to weak economic and financial conditions, however, the government cannot underestimate the increasing use of digital currencies all over the world. It's unfortunate that when many countries are racing towards cryptocurrency adoptions, some of the countries are still unsure about it. I think the governments should allocate resources to research cryptocurrencies and consider legalizing them as soon as possible as I believe it is inevitable.

I'm also playing safe from the prying eyes of the authorities using as many precautions as I can. Although I have bought a few amounts of cryptocurrencies including HIVE, I have done so through anonymous means (from other countries of course). Unfortunately, this also means that I will not be able to cash out easily if I wanted to, but that's fine. At the current adoption rate, I believe it's only a matter of few years before every nation will start to adopt this awesome tech.


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