Re:Lebanon’s underground cryptocurrency market
by nroets on Friday August 27, 2021 @08:04AM
(#28326742)
Just to add that many South Africans are importing and reselling crypto through a legal loophole. [1] Only "exporting" crypto is illegal.
There are highly liquid international markets for our currency vs other fiats. The government has relaxed capital controls substantially over the last 20 years.
Right now the focus of government is taxing crypto. Capital controls are taking a back seat, because enough Dollars are coming into the country to pay for imports. External debt is minimal.
Re:Lebanon’s underground cryptocurrency market
by agumonkey on Friday August 27, 2021 @07:26AM
(#28326416)
Understandably its a lot nicer to know your money doesn't evaporate.
Re:Lebanon’s underground cryptocurrency market
by singularity2001 on Friday August 27, 2021 @09:51AM
(#28327803)
>>> it is a good way to store and invest your wealth
until it goes to literally zero, which IMHO seems more likely every month
On what basis do they hit you? Anyone that ever has any link to crypto? That's everyone. Crypto has a level of security and plausible deniability, that makes such things unrealistic. That's why you don't hear about it happening often.
To many people under these regimes, there is much more security afforded to them by crypto than by their governments and currencies.