Ecuador Ban Bitcoin and CryptoCurrencies amid State Of Emergency : Bitcoin Ecuador

Currently, due to the ongoing efforts of the Army, Government and internal combat against organized crime in Ecuador, the Government and Army of Ecuador can now make decentralized payments like Bitcoin, USD, and CryptoCurrencies. Currently, due to the incident in Ecuador, many countries of the world are looking at Ecuador which may also become a victim of the biggest Internal Conflict or External Affairs in the world due to the mission of the Army or Ecuador Police to make Ecuador successful. Government, Banks, and Politicians can temporarily ban facilities like Bitcoin and CryptoCurrencies. Some people believe that after El Salvador, Mexico, and Brazil, Bitcoin trading is also increasing in Peru, Argentina, Colombia, and Ecuador. There is a very old feud between those Cartels and Ecuadorians who have been doing illegal things but now as a result Cartels have decided to kill common people, Guards, police and Army people and now Ecuadorians have released gangster Adolfo Macías Villamar or Fito from jail. The government and the Army are trying to share restrictions in a complete manner.

How Much Ecuadorians Own Crypto, Why South American Countries Ban Bitcoin and Crypto amid Ecuador, Peru, and Columbia Crisis?

Because now the governments of Peru, Colombia, and Ecuador have also admitted that Cartels can use decentralized payment solutions like Bitcoin as before, Gangers, Cartels, and Drug lord business can still continue. Because Ecuadorian Police and Army believe that a network of cartels can be spread throughout South America it can be easy for such Gangsters, Drug or Criminals to use payment methods like Bitcoin. The Ecuadorian current government can also take very big action against Gangsters and Criminals who can pose a threat to Peru, Colombia, and Ecuador in the future. In addition to all these, in the future other foreign currencies like USD, EUR and South American currencies can also be banked in Ecuador so that the current emergence of Ecuador and the government’s currency cannot be easily exchanged. Currently, data is showing that approximately 500,000 Ecuadorians own Crypto or Bitcoin, which means that it will be very difficult for the Ecuadorian government to take action against criminals, so the government of Ecuador can ban Bitcoin and Crypto as well as other Forex.