Zimbabwe's Central Bank Bans All Crypto Business!
It might end up to be something the central bank of Zimbabwe will regret a few years from now. Preventing every local crypto business the access to financial institutions is in general a step every country will regret eventually.
Why I think that way? Well I'm convinced that cryptocurrency and especially the blockchain technology itself will change the world as we know it today. So driving away any local business will not only lead to less tax incomes & jobs in the short run...
Rather this step will actually lead to a gap in the overall development of local businesses while granting foreign players a significant advantage penetrating the market in Zimbabwe.
I could possibly go on for much longer and more detailed without naming any advantages of this ban after all. It's just a bad decision if you ask me and nothing else.
What's your oinion?
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The gov. of Zimbabwe has become an even bigger farce than their ridiculous currency. Good luck with stopping those poor Zimbabweans from joining the global crypto boom.
It’s already happening to some extent in the US as well. Bank of Montreal (BMO) is not allowing purchases through Coinbase. Actual debit card purchases with your own money will be denied if you try to make a purchase through coinbase. It’s pretty crazy. Happened to me a couple of weeks ago. Called the bank and they confirmed they will not allow coinbase purchases. I can understand credit cards, but if it’s my money the bank is now telling me how I can spend it.
Bitcoin will eventually take over. Consensus 2018 is the start! lets go!
Zimbabwe's central bank is like a how-to guide of what not to do.
this topic of cryptocurrency can not be taken lightly let us accord ourselves that all this does not take long and the risks are high and for a country that has to back the currency with its own money or its patrimony is not easy