Bitcoin is the first cryptocurrency that became a milestone in the digital era. It is often regarded as the king of cryptocurrency or dominant crypto coin for being on top of its competitor coins.
Recently a statement came from the Commissioner of Security and Exchange Commission, U.S. She made a very nice comparison of Bitcoin banning with internet shutdown. In short, it was a remark on the government's move of banning cryptocurrency.
People Will Still Carry On Crypto Trading
She also said that the government might take a stance on putting a restriction on cryptocurrency trading with a complete ban on dominant cryptocurrency Bitcoin and other alternate options.
No matter what strict guidelines the government will implement in not allowing the use of these digital currencies, still, it cannot intercept people wholly in going against their decision. They will find some way out to practice crypto trading.
However, Hester also expressed her opinion about how it would trigger major issues if cryptocurrency is banned.
If it is done, then an innovation surrounding the dominant crypto coin, and other crypto-assets would be missed by all of us. She, however, did not clear about approval of the Bitcoin ETF.
Not So Easy Decision To Be Made
So now you see, it is not so easy to decide to ban cryptocurrency trading. It will not be accepted by many people not only abroad but also in India.
So the government must consider its decision wisely before taking a hasty decision of banning cryptocurrency.
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