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In South Africa, we still have capital controls. My mom earned dollars through PayPal. She couldn't spend it online and had to convert her earnings to Rand within 3 months. Bureaucrats will insist that the same rules apply to libra.

India is even less ready for relaxing capital controls. They will tell Facebook to block libra for their citizens or be firewalled. No one is going to jail, but libra will not succeed there.




Talking of PayPal in India, money should be automatically remitted to the bank account immediately.

At-least 3 months in SA sounds reasonable incase we have to process any refund, though I'm not trying to belittle the discomfort faced by your mother.


that is why totally decentralised systems such as Bitcoin are important. Noone can firewall it


And the people who aren't technical will forget their password.

Since there is no centralized government, they lost their money.

Source: wrote some articles on my own "media" website to try out SEO.

Most popular article, how to recover Bitcoin password


Capital controls can be an important part of a monetary system. It’s not part of most western countries’ systems, but it’s a very valid tool with a real purpose.




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