Writing Task 2: Responding to Survey Questions
Read the following information.
Your state government is planning a blanket ban on Cryptocurrency. There have been reports of frauds. The government has sent out an opinion survey to see what residents would like to have built-in that area
Option A: Is banning cryptocurrencies the solution?
Cryptocurrency survey:
Option B: banning a currency would push it into the black market
To whom it may concern I want to opine in favour of putting a permanent ban on the digital form of currencies as it seems a far better and clear choice for me than the other one. Furthermore, I want to present a couple of reasons to substantiate my arguments. To begin with, there are significant risks of investing in cryptocurrencies like Bitcoin or Dogecoin because of their unpredictable nature. For instance, investors money can become half or double in a matter of few hours. So it is hazardous for small investors especially. Moreover, Many superpower countries like China and Japan have already announced banning these digital currencies as they consider it a threat to their financial and banking sector. In addition to that, there is a significant increase in severe and organised crimes like money laundering. Moreover, many businesses and individuals use bitcoins and other digital currencies to store their black money, thus directly impacting the economies. Having discussed the above arguments, I firmly believe that stopping people to trade in these artificial currencies will create a safer economic environment in the whole world. Thanks for providing me with an opportunity to voice my opinion on this critical topic. Regards Tony