Prompt: Omnipotent Government

The missteps of governments around the world regarding cryptocurrency only show a lack of knowledge on the part of government officials. We will mention two examples in this article.

Coolpad Group's Bold Crypto Investments

In China, despite the government's strict stance against cryptocurrencies, Coolpad Group, a major telecom provider, has boldly allocated substantial investments into crypto-related ventures, revealing the limitations of governmental control over private sector decisions.

I thought the Chinese government was powerful and hated cryptocurrency. No matter how powerful this communist government is, it cannot dictate the decision of a public telecom provider like the Coolpad Group.

Coolpad Group has allocated an amount of 13.5 million USD for the company's crypto-related investments. They want to take advantage of the opportunity that the Web 3.0 digital currency business provides.

Last month, the Coolpad Group mentioned their plan to invest 28 million USD in the shares of companies that are publicly listed on the Nasdaq. This includes GBTC, ARKB, and DEFI.

Legal Missteps in Nigeria

Similarly, in Nigeria, the Federal Inland Revenue Service (FIRS) wrongly charged Binance executives with money laundering and tax evasion, only to later drop these charges and admit their error. This appears to me that centralized crypto companies like Binance seem hot in the eyes of the law. In addition to CZ in California, Tigran Gambaryan and Nadeem Anjarwalla in Nigeria were wrongly charged with money laundering and tax evasion cases. Fortunately, the FIRS dropped the tax charges against the two officials. The FIRS revised the case against the two and substituted Binance and its local representative as defendants. The FIRS realized that the two executives mentioned had nothing to do with Binance's major decisions and should not have been jailed and charged in the first place.

Wow! The Nigerian government is wrong in this case. Sadly, the reputations of the innocent executives have already been tarnished. Unfortunately, the FIRS seems like experimenting on two executives as guinea pigs.

Where is the accountability of FIRS? And what did they do to correct their mistake? Cases like this only show the lack of accountability and precision in governmental actions concerning the rapidly evolving crypto industry.

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Ang mga maling hakbang ng mga pamahalaan sa buong mundo ukol sa cryptocurrency ay nagpapakita lamang ng kakulangan ng kaalaman sa parte ng mga government officials. Dalawang halimbawa ang ating babanggitin sa artikulong ito.

Coolpad Group's Bold Crypto Investments

Sa China, sa kabila ng mahigpit na paninindigan ng gobyerno laban sa mga cryptocurrencies, ang Coolpad Group, isang pangunahing provider ng telecom, ay matapang na naglaan ng malalaking pamumuhunan sa mga pakikipagsapalaran na may kaugnayan sa crypto, na nagpapakita ng mga limitasyon ng kontrol ng pamahalaan sa mga desisyon ng pribadong sektor.

Akala ko ba ay makapangyarihan ang Chinese government at kinamumuhian nito ang cryptocurrency. Kahit pala gaano kakapangyarihan ang communist government na ito ay hindi nila kayang diktahan ang desisyon ng isang public telecom provider tulad ng Coolpad Group.

Ang Coolpad Group ay naglaan ng halagang 13.5 million USD para sa mga crypto related investment ng kumpanya. Gusto nilang samantalahin ang oportunidad na ibinibigay ng Web 3.0 digital currency business.

Nitong nakalipas na buwan ng Mayo, binanggit ng Coolpad Group ang plano nilang mag-inbest ng 28 million USD sa mga shares ng mga kumpanya na publicly listed sa Nasdaq. Kasama na rito ang GBTC, ARKB at DEFI.

Legal Missteps in Nigeria

Sa Nigeria, nagkamali ang Federal Inland Revenue Service (FIRS) sa pagsampa ng kaso ng money laundering at tax evasion laban sa dalawang executives ng Binance. Sa aking tingin, mainit sa mata ng batas ang mga sentralisadong kumpanya ng crypto tulad ng Binance. Bukod sa naranasan ni CZ sa California, sina Tigran Gambaryan at Nadeem Anjarwalla sa Nigeria ay maling sinampahan ng kaso ng money laundering at tax evasion. Sa kabutihang palad, iniurong ng FIRS ang mga kasong ito laban sa dalawang opisyal. Binago ng FIRS ang kaso at pinagtuunan ng pansin ang Binance at ang lokal na kinatawan nito bilang mga nasasakdal. Napagtanto ng FIRS na ang dalawang executive na binanggit ay walang kinalaman sa mga pangunahing desisyon ni Binance at hindi dapat nakulong at nakasuhan noong una pa man.

Wow! Mali ang gobyerno ng Nigeria sa kasong ito. Nakalulungkot, nadungisan na ang reputasyon ng mga inosenteng executive. Parang nag-eeksperimento lang ang FIRS sa dalawang executives bilang guinea pig.

Nasaan ang pananagutan ng FIRS? At ano ang ginawa nila para itama ang kanilang pagkakamali? Ang mga kasong tulad nito ay nagpapakita lamang ng kawalan ng pananagutan at katumpakan sa mga aksyon ng pamahalaan tungkol sa mabilis na umuusbong na industriya ng cryptocurrency.

References:

Chinese public telecom provider Coolpad Group allocates $13.5m to buy Bitcoin mining rigs

Nigeria drops tax charges against Binance executives

Posted Using InLeo Alpha