I’ve been seeing people post to complain about changes in availability to many countries and asking why they are impacted. There’s a lot of things going on, but one of the big aspects here are recent actions by governments. Unfortunately it’s not on all of our TV screens and you don’t see it in news papers. It’s all pretty silent. But let me show some examples of things which are causing rifts around crypto, exchanges, and regulations. This is not all inclusive, but just is random examples. Please try to do some research your own.
While countries were trying to figure out ways to regulate crypto, we had a few recent crypto winters. The most recent hitting pretty hard. Now governments are asserting they need to control cryptocurrency, otherwise their economy will be hurt.
Cryptocurrency prices have been crashing, leading to talk of a ‘crypto winter’. But what’s causing the downturn?
Advances signal a desire for regulatory clarity in the crypto asset space with the EU and the US setting the initial direction for regulatory standards.
- Argentina crypto ban. Source 1 Source 2
- Brazil source 1 source 2
- European Union regulatory changes source 1 source 2
- India crypto ban or regulation source 1 source 2
- Russia source 1 source 2
- United States source 1 source 2 source 3
Obviously there are a lot more countries affected. Some of this is in motion and others decided. And these aren’t the only things causing an uproar, but they do contribute a bit into what’s going on.
Places like Gemini, Uphold, and Brave have to act in compliance with all of these things and adjust business accordingly. This can be very complicated as each country has different requirements, yet at the same time each business also has to meet certain standards and requirements. For example, if the United States has sanctions against a country you live in, then as an American company they would have to exclude you.
Opting in for Brave Rewards and supporting content creators is very easy and is able to stay decentralized. This is why many are able to still participate in Rewards and earn BAT, even if they can’t connect to an exchange.
But once you are wanting to move it away from Brave and into exchanges, bank accounts, or anything of the sort it becomes very complicated due to various laws and regulations.
Again, this is not THE answer to why regions aren’t allowed. There are other things that are probably more critical, but these are things that have come to my attention as I have asked questions and been doing research. Unfortunately nobody is wanting to reveal everything going on behind the scenes. Anyway, hopefully this might help some of you since some of this stuff isn’t actually widely spoken about by people, especially if you’re not big into crypto.