UK wants to legally ban bitcoin transactions

A petition has been filed with the British government to ban digital currency transactions in the country.

IndependentFinancial Advisor and Managing Director of WestRiding Personal Financial Solutions Neil Liversidge has called on lawmakers to ban bitcoin as it could have a destabilizing effect on the economy.

His petition states:

Cryptocurrencies have no intrinsic value,have a destabilizing effect on society and are used for criminal activities. Banning cryptocurrency transactions in the UK will discourage criminals who rely on these currencies.

The author of the documents believes that legitimate businesses and citizens do not need cryptocurrency, and the mining of cryptoassets causes irreparable harm to the environment.

In order for the petition to be heard in parliament, 100 thousand signatures are needed. So far, only 115 people have signed the document. 

Liversidge believes that a complete ban will help protect citizens from the consequences of the fall of the crypto-currency pyramid. 

He called cryptocurrencies a scam and said,that it intends to fight against their spread. In his opinion, a government ban on cryptocurrency transactions will collapse digital currencies almost instantly. He is confident that the ban will not help catch all criminals, but will reduce their influence and destroy their financial base. 

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