đą "Russia is banning crypto, Russia will ban Bitcoin, Russia is doing this & that......" Oh Please cut that crap now!
It is next to impossible to ban crypto globally. Yes, you heard it right. Let me explain, why?
đ To ban the mining/trading of crypto globally e.g. Bitcoin, the leaders of all the countries have to agree on a single point agenda. And it is "Taking the internet and the electricity down worldwide for at least 5-10 seconds and at the same time" Yes the timing has to be exactly the same everywhere.
This is one daunting and impossible condition to which every world leader won't agree. In fact the countries with smaller economies will be the first to oppose, even the developing countries will strictly stand against it.
đ Not just crypto, such an action will impact banking & other financial services, govt. operations and numerous other sectors heavily for those few seconds. The impact will be huge and beyond imagination. It'll be even worse than any war or recession. Only such a scenario will make sure that the entire crypto industry is diminished.
đ What a Govt (like Russia) can do is to do a complete ban on exchanges from operations and all other financial & non financial services related to crypto e.g. downloading trust wallet app from play store/app store or accessing any platform with news & other vital info related to crypto. And it's a Govt's decision which will affect the people (and the industry a bit) in that region only. Rest the show will go on.
â Nonetheless, people in that region may shift to other countries with pro crypto policies and at this time Dubai is the global hub of crypto. Well that is someone's personal choice, but friends crypto is impossible to ban.
So, don't just fall prey to whatever is being fed to you over the internet. Just dig a little deep and you'll uncover many secrets.