• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: BREAKING: Senate Passes Historic Stablecoin Bill, Marking Major Win For Crypto
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Senate Passes Historic Stablecoin Bill, Marking Major Win For Crypto
Bitcoin

Crypto Regulations Newsletter: A Tale Of Tyrannies & Bitcoin (2/2)

Julia Arvelaiz
by Julia Arvelaiz
3 years ago
·
Posted in Crypto News, Legislation
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In the first part of this article, we dug into bitcoin bans by authoritarian governments, the narrative behind them, and how the country’s crypto users reacted during 2021.

Related Reading | Crypto Regulations Newsletter: A Tale Of Tyrannies & Bitcoin (1/2)

Ban Risky Bitcoin

Tyrannies, scared of the power of crypto’s decentralization, often claim it possesses many risks to the investors and the economy.

But, as we’ve been seeing, the bans are not actually about crypto as a risk to the people.

Some of these governments (China and India) have also taken measures to reduce cash, replacing transactions with a central bank digital alternative: more surveillance.

Crypto also possesses another real risk to regimes: it has been used to fund protest movements. Not “terrorist movements”, as dictatorships love to call it, but “protests” against real systemic issues. Against police brutality, hunger, and other types of violence.

Oppositions tend to be persecuted in these countries by any means necessary. People’s funds get frozen if they protest. Banking systems help silence revolutions and the fight for the basic human rights to be respected.

But tyrannies can’t freeze protestors’ BTC. There’s your real risk: no government oversight.

Can Bans Stop Crypto?

Miners and their equipment are in the physical realm, so they can be sent to jail. But digital assets like BTC, because of the way its tech works, would require a high level of control over the internet, like China’s Great Firewall, to actually keep citizens away from it.

When facing bans major exchange platforms do have to comply with restrictions, thus adjusting their policies accordingly. In the case of China, for example, Binance had to close the yuan trading feature and other exchanges like Huobi started to retire mainland Chinese users.

However, despite the crackdowns, some of these countries have reached the highest BTC adoption rates on the planet afterward.

In May 2021, a report by CryptoRefills showed that “The top 3 countries with the most crypto-consumers are the USA (7.6%), Nigeria (6.6%), and India (6.2%)”.

Nigeria ranked 6th again in August, according to the Chainalysis’ 2021 Global Crypto Adoption Index, and the number of cryptocurrency trades in Turkey has increased to over one million per day, reported Reuters.

China’s cryptocurrency miners had to migrate to cheap and safer places for mining –which benefited other countries, like the U.S.–, and some users reportedly have found ways to keep investing by registering companies overseas so the know-your-customer (KYC) can’t stop them from trading as a corporation.

In 2021, many investors, subject to these tyrannies, found ways to keep trading with P2P platforms, and some have claimed the irresponsible restrictions only enhanced cybercrime. Scammers will scam.

But The Venezuelan Tyranny Loves Crypto

Venezuelans endure a dictatorship and the worst economic crisis of their history.

As Time reported in 2018 when the regime made their first approach to creating a digital currency, they tried to “mutate and centralize Bitcoin’s concept of peer-to-peer digital money to create state-controlled cryptocurrencies like the Petro” in order to evade U.S. sanctions –and other less transparent goals.

The country’s government-linked crypto exchange platform recently listed BTC and litecoins, but nothing in hands of dictatorships is as good as it sounds. Even when it sounds bad, it gets worst.

The Venezuelan government is believed to be one of the biggest drug organizations in the world. That should give you an idea of how corrupt they are. So imagine a drug cartel / corrupt politicians having their own digital currency. Sounds safe and trustworthy, right?

As ever, the project has never been clear enough when explaining its details. First, they said it’s backed by oil, but claims were hollow. The Conversation described it as “simply a digital form of debt from a country with no financial credibility and that is badly mismanaging its economy.”

Unsurprisingly, the Petro has not fixed any issue or met its promises. Many users have claimed to have been scammed in the platform and it is allegedly possible to get banned from it with no explanation whatsoever, all funds frozen with no hopes to see them again.

The moral of the story is that tyrannies are not faced forward about their plans and use trends and digital assets to make shady moves look a bit better –and possibly scam some more peers.

Don’t believe in regimes that sell you [fake] crypto, don’t believe in [fake] crypto sold by regimes.

Related Reading | Latin America, Tipping Point: Axie Infinity Scholarships + Venezuela’s Petro

crypto
Bitcoin trading at $46,542 in the daily chart | Source: BTCUSD on TradingView.com

 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Julia Arvelaiz

Julia Arvelaiz

Follow

Full Profile

Related Posts

Best Altcoins to 100x as Trump Praises GENIUS Stablecoin Bill as 'American Brilliance

GENIUS Unleashed: Trump’s Push Ignites Crypto Markets. What Are the Best Altcoins That Could Rally 100x

1 hour ago
Explosion of BTC Treasury Adoption Since 2020: How to Prepare for the Bitcoin Mainstream

Explosion of BTC Treasury Adoption Since 2020: How to Prepare for the Bitcoin Mainstream

1 hour ago
ChatGPT Bullish on $XRP and $SHIB – But Snorter Token Emerges as the Next Big Trading Bot

ChatGPT Bullish on $XRP and $SHIB – But Snorter Token Emerges as the Next Big Trading Bot

2 hours ago
Over $904M in Bitcoin Profits Pressure the Market – BTC Bull Token is a Safe Bet

Over $904M in Bitcoin Profits Pressure the Market – BTC Bull Token is a Safe Bet

2 hours ago
Best Meme Coins to Buy as Leland King Fawcette Draws Eyes with $50STATES Token.

The Best Meme Coins to Buy as $50STATES Dev Attempts to Traverse All 50 US States in Record Time

3 hours ago
TRON Price Dips, But On-Chain Growth Tells a Different Story

TRON Price Dips, But On-Chain Growth Tells a Different Story

6 hours ago
Please login to join discussion

Premium Sponsors

Press Releases

  • FUNToken Announces Deflationary Update, Achieves Certik...

    7 minutes ago
  • Solana holders earn $6,580 a day through cloud mining as...

    11 minutes ago
  • Bitcoin price falls below $104,000, but investors keep...

    1 hour ago
  • As DOGE recovers, APT Miner cloud mining becomes popular...

    1 hour ago
  • Get a steady 6,500 passive income in the divergence of XRP...

    1 hour ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.