Evgeny Kaspersky: Cryptocurrency Banned?
on Wednesday, December 16, 2015Evgeny Kaspersky Money Quotation saying regulation of cryptocurrency will not happen until it affects government control of revenue, then it will become illegal. Evgeny Kaspersky said:
![I am more than sure that different countries will take turns to prohibit the use of cryptocurrency because they can’t control it. As long as they do not interfere, authorities won’t pay attention. Once [cryptocurrencies] begin to displace the national currencies – they will be immediately banned](https://itsamoneything.com/money/wp-content/uploads/Evgeny-Kaspersky-Cryptocurrency-Banned.png)
I am more than sure that different countries will take turns to prohibit the use of cryptocurrency because they can’t control it. As long as they do not interfere, authorities won’t pay attention. Once [cryptocurrencies] begin to displace the national currencies – they will be immediately banned” — Evgeny Kaspersky
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In this quote, Evgeny Kaspersky provides his perspective on how various governments may react to cryptocurrencies in the future. He believes that as long as cryptocurrencies do not directly challenge or displace national fiat currencies, most authorities will take a hands-off approach and not interfere with their use.
However, Kaspersky predicts that once cryptocurrencies start to significantly undermine government control over monetary systems and begin replacing official currencies, different countries will then sequentially ban them in turn.
His view suggests that while cryptocurrencies are still in their relative infancy, governments will tolerate them – but once they attain a scale where they diminish state power over currency, outright prohibitions will be swiftly enacted.
Kaspersky appears to be warning about potential crackdowns as cryptocurrencies grow in adoption and economic importance.