Is a Crypto Ban Possible?

We all know that due to ongoing geopolitical unrest, a lot of rumours have appeared in the media that some countries are considering banning or restricting crypto activity.

Is this already happening?

Yes, there was a ban in China that has caused the summer 2021 crypto market collapse. However, Chinese citizens are still trading using different decentralised exchanges (DEX-SWAPs), VNPs to bypass China’s Great Firewall and different protocols that provide transfer policy to cover their tracks.

Can this happen in the US or Europe?

That would be hard to see since five US states have a legal framework for crypto businesses and crypto mining. This actually could be the end of the crypto era, however. In 2021, reports emerged that more than 15,000 people are working in the US crypto industry, with 8,000 job openings available. The same applies to Europe, where specialists are hard to come by.

Which crypto networks provide privacy?

The best blockchain/network where privacy is the number one focus is Monero (XMR), a blockchain project that aims to be a better version of Bitcoin. Its special features are higher transaction speeds and lower costs than Bitcoin. Most importantly, it is known for its privacy credentials, which make it nearly impossible for people to track transactions.

Chart Analysis:

Important analysis conclusions:

• We can clearly see that Monero (XMR) is recovering.
• Powerful support at $130-$140, which was rejected three times in the past two months.
• The Awesome Oscillator is beginning to rise despite BTC’s volatility
• The 9/26 MA cross occurred on 7 March and isn’t showing any signs of switching back to a bearish trend.

Which other instruments can be used if a crypto ban happens?

As mentioned earlier, some countries already have a crypto ban in place. However, their residents always find a way to buy/sell crypto instruments on DEXs, which include:

UniSwap,a protocol that can be used to exchange ERC-20 tokens on the Ethereum platform through smart contracts without a centre or administrator.

SushiSwap, a decentralised exchange similar to Uniswap. However, several new features were added. It was created by forking Uniswap and described this new protocol as an evolution of Uniswap. A new metaverse feature was added on Sushi, making it a good trading opportunity.

Pancake, a decentralised exchange (DEX). It allows users to swap BEP-20 tokens, which are tokens built on top of the Binance Smart Chain that don’t have their own blockchain. Because the platform is built on Binance Smart Chain instead of Ethereum, it has a number of advantages, such as speed, clarity and very low fees.

Useful links

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