📰 Kuwait Cracks Down on Crypto: 🚫💰

Kuwait's top financial watchdog, the Capital Markets Authority (CMA), has released a circular reaffirming an "absolute prohibition" on major crypto transactions, including payments, investments, and mining. The joint effort by regulatory bodies aims to address the risks associated with virtual assets, warning citizens about their lack of legitimacy and government support. In line with anti-money laundering and anti-terrorism financing efforts, Kuwait is taking a firm stand against crypto activities, emphasizing public awareness campaigns to educate people about the risks of dealing with highly volatile and unregulated cryptocurrencies. 💼💳

#cryptoban

⚠️⚠️⚠️Market alert⚠️⚠️⚠️ wait for your investments
or go short in futures

Crypto market fall due to ban notice by Indian government

stay back and buy the dip, bag your profits

There'll be panic selling and if ban imposed markets will fall for sure

make a wise move to bag profits
Good News if the ban on only exchanges.... miss you crypto 💗

here is the ban notice
#crypto #cryptoban #IndiaBan #indiabanexchange
$BNB $SOL $SHIB

Kuwait Bans Cryptocurrency It has a negative impact on the Market and we may see a dip in price. So be careful
#cryptoban #crypto #cryptello #Binance #cryptocurrency

⚠️INDIA vs US Crypto Developments (2013- 2024)⚠️

👉If we compare the developments in the crypto industry between the United States and India, it is evident that India is lagging behind. While the US has made significant progress in embracing cryptocurrencies, India's approach has been more cautious and restrictive. In 2013, the US Internal Revenue Service (IRS) recognized crypto as a property and subject to taxation. In contrast, the Reserve Bank of India (RBI) issued an advisory against cryptocurrencies in the same year.

👉Fast forward to 2024, and the US has witnessed major milestones such as big banks like JP Morgan buying Bitcoin for their wealthy clients, the launch of CME Bitcoin futures, and the approval of multiple Bitcoin spot ETFs by the Securities and Exchange Commission (SEC). On the other hand, India has faced setbacks like the RBI circular banning crypto in 2018, which was later overturned by the Supreme Court in 2020.

👉India's stance on cryptocurrencies has been inconsistent, with the government reiterating its plan to ban and prohibit cryptocurrencies in 2021. Additionally, the Finance Minister announced a 30% tax and 1% TDS on crypto assets in 2022, further hindering the growth of the industry. In contrast, the US has seen major companies like MicroStrategy and Tesla investing in Bitcoin, and the Coinbase IPO going live.

🔴It is disheartening to see India, a country known for its technological prowess, not fully embracing the potential of cryptocurrencies. While the US has recognized the transformative power of this technology, India seems to be stuck in the past. It is crucial for India to adapt and create a positive regulatory framework that fosters innovation and allows the crypto industry to thrive.

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List of Countries Banning Cryptocurrency

China
Egypt
Iraq
Qatar
Oman
Morocco
Algeria
Tunisia
Bangladesh

Source: cryptoticker
#cryptocurrency #cryptoban #cryptonews

Local authorities have warned that tourists who attempt to use crypto as a means of payment will be "dealt with firmly."

Foreign tourists who use crypto as a means of payment in Bali will be "dealt with firmly," local authorities have warned.

Speaking at a tourism development press conference on Sunday, Bali Governor Wayan Koster said that visitors who pay with crypto or break other rules could be deported, face criminal penalties, or be dealt tough sanctions.

#bali #indonesia #cryptoban #cryptocurrency #cryptoonindia