Will the U.S. Forbid Trading with Cryptocurrencies?
If the U.S. remains engaged in it, there will be the ability to offer alternatives and rules in the world of cryptocurrencies which gives them the power of negotiation in this market, but if it adopts a compulsory track and combat destroying cryptocurrencies, the expectation for its commercial and economic failure will be very high.
Despite all pressures and criticisms about the world of cryptocurrencies, Bitcoin and its counterparts are in the bull market, and numerous financial institutions, companies, and investors welcome them. The support of influential governments and investors can pave the way for the growth of these digital currencies. Different countries look at this new technology with different approaches. The U.S is considered one of the countries which intends to support and apply digital currencies and has planned some measures such as enacting some bills and rules in this regard; however, a piece of unexpected news about stopping and prohibition of cryptocurrencies on the part of the U.S. has surprised all. If this country forbids trading with and exchanging cryptocurrencies, what will happen?
Will the U.S Forgo Cryptocurrencies?
An American congressman has recently released a video with the content against cryptocurrencies. In this video, Brad Sherman speaks of the hazards the digital currencies will create for the dollar. He believes that the capacity of cryptocurrencies is to the extent that it can replace USD and jeopardize the situation of this unrivaled currency.
With all criticisms, negativisms, and horrors against digital currencies, they are still heading forward. Many of the big companies in the field of technology have been drawn to the cryptocurrencies. For example, Facebook is among the pioneers which have fully understood the importance and value of cryptocurrencies.
What Will Happen after Cryptocurrencies Are Forbidden?
Despite forbidding cryptocurrencies on the part of the U.S., this country will be the first which will be influenced. The reason is that many of countries, especially main U.S. rivals in financial affairs, i.e., China and Russia, are seeking an opportunity to lower the value of USD. With the development of digital currencies, this possibility will regain power more, and the cryptocurrencies can be used in vast and extensive aspects all around the world. In the case of such an event, the leading of dollar will suppress to a large extent. Therefore, every kind of measure on the part of this country with the purpose of prohibiting digital currencies means retreating from the markets which are currently dominated by them. If the U.S. remains engaged in it, there will be the ability to offer alternatives and rules in the world of cryptocurrencies which gives them the power of negotiation in this market, but if it adopts a compulsory track and combat destroying cryptocurrencies, the expectation for its commercial and economic failure will be very high.
The U.S. Will Not Put an End to Cryptocurrencies
According to what has been pointed out, it seems unlikely that the U.S. puts an end to the cryptocurrencies and restricts and prohibits them. Rejecting any new technology before assessing its different aspects, investigating opportunities and threats and of course, it beneficent and harmful capacities is the sign of ignorance and nescience. The result is that different countries are investigating different aspects of the presence of digital currencies in the economy and the market either clearly or secretly.