Topic: Reason why other ban cryptocurrencies - page 5. (Read 4375 times)
They are banning because they don't have proper knowledge about the blockchain and it concerned technologies. Due to huge fluctuations in the market, many countries are afraid to legalise the cryptocurrency because it will damage their economic growth.
The goverment from many country is worry whe the money in his teritory is going in other country who can his country in bad condition and its can makr a crisis
what you convey is true, which I am surprised is why the government always sees it from the bad side not from the good side it can also bring benefits in its development. I am sure that in the future crypto currencies will be acceptable 
I believe that governments don't like to support cryptocurrencies right now, because they want only to support their fiat and local currencies, and because cryptocurrencies are decentralized, so governments can't control their prices and markets.
why they should to hate cryptocurrency if this market could give them income source from taxes.fiat and cryptocurrency totally different,so dont be afraid with cryptocurrency that it would replace fiat.
I believe that governments don't like to support cryptocurrencies right now, because they want only to support their fiat and local currencies, and because cryptocurrencies are decentralized, so governments can't control their prices and markets.
why they should to hate cryptocurrency if this market could give them income source from taxes.fiat and cryptocurrency totally different,so dont be afraid with cryptocurrency that it would replace fiat. 
Their monetary laws might not allows any kinds of virtual coins outside of their country or the officials simply don't believe cryptocurrency is beneficial to their people or economy. Others might consider cryptocurrencies as a threat to their financial system. These are some of the reasons on banning the bitcoin by some countries. Politics can also play in the restriction of bitcoin because the current leadership are against any virtual currencies.
over time they will realize and must follow rules of developed countries that have legalized it first. of course by being aware of weaknesses and fixing them so that you can accept cryptocurrency as the best solution, than government will regret later
Their monetary laws might not allows any kinds of virtual coins outside of their country or the officials simply don't believe cryptocurrency is beneficial to their people or economy. Others might consider cryptocurrencies as a threat to their financial system. These are some of the reasons on banning the bitcoin by some countries. Politics can also play in the restriction of bitcoin because the current leadership are against any virtual currencies.
I think that it is just impossible to integrate in a short time crypto into the law system of a country, that's why they are afraid a bit.
Others ban cryptocurrencies because they think that cryptos can destabilize or hinder the growth of their economic progress. What they saw is only the negative side of cryptos that they think will outweigh the good side of it like what others said that cryptos helped improved their economic growth.
It is clear the benefits of cryptocurrencies are going to surpass any negative impact they may have, but politicians are not dumb they are seeing they are the ones that will suffer all the negative effects of bitcoin and they will not get many of the benefits, they are realizing that the ones that will obtain the most benefits are the people and they will be unable to extract those benefits through taxes. 
I believe that governments don't like to support cryptocurrencies right now, because they want only to support their fiat and local currencies, and because cryptocurrencies are decentralized, so governments can't control their prices and markets.
Why governments always look at the negative side of Bitcoin, they did not know the good bring into it especially when it comes transactions. If they afraid that Bitcoin may use in illegal activities such as money laundering or fraudulent that may affect the economic growth in the country why they didn't put regulation on have their own regulated wallet where to store Bitcoin not to direct in Bitcoin because it is decentralized, every person who holds Bitcoin must be passed on KYC procedure on their wallet to easily track the transactions.
I believe that governments don't like to support cryptocurrencies right now, because they want only to support their fiat and local currencies, and because cryptocurrencies are decentralized, so governments can't control their prices and markets.
Why governments always look at the negative side of Bitcoin, they did not know the good bring into it especially when it comes transactions. If they afraid that Bitcoin may use in illegal activities such as money laundering or fraudulent that may affect the economic growth in the country why they didn't put regulation on have their own regulated wallet where to store Bitcoin not to direct in Bitcoin because it is decentralized, every person who holds Bitcoin must be passed on KYC procedure on their wallet to easily track the transactions.
I believe that governments don't like to support cryptocurrencies right now, because they want only to support their fiat and local currencies, and because cryptocurrencies are decentralized, so governments can't control their prices and markets.
Others ban cryptocurrencies because they think that cryptos can destabilize or hinder the growth of their economic progress. What they saw is only the negative side of cryptos that they think will outweigh the good side of it like what others said that cryptos helped improved their economic growth.
I read for a reason why bitcoin uses bad habits one with that scammer and many others. but we know that the crypto has helped us a lot and hopefullu they open the door to bitcoin in their country for a lot to help.
Yes this is one case too. People are using it for so many unlawful things. On deep web, every criminal activity is being carried out through bitcoin. They make transactions of ransom, drug abuse, human trafficking and all such criminality. But there is a good side of picture as well. We can see an amazing opportunity pool that can help people to make money from their restricted resources. 
Decentralized in nature, this is the main reason why some governments are banning cryptocurrency. Of course, it's the obligation of the government to be always in control of every transaction happening within its designation. With the emergence.of cryptocurrency, illegal transaction are made through cryptocurrency to avoid tracing back. One reason why government is banning cryptocurrency.
Cryptocurrency transaction cannot be trace this give opportunity for drug dealers,Terrorist and Arm dealers to transact globally,without any form of check and arrest, this Illegal deal is detrimental to the society and the global world at large,Also government want to be incharge and control the economic development of the country, this cannot take place with cryptocurrency reason why they ban cryptocurrency.
These are just the negative effects of decentralized platform. Governments actually don't have any control of the different transactions including these criminal transactions. Money laundering would be very easy for those opportunists. There should be an alternative to this issues at hand as bitcoin is targeting mainstream. Rich countries such as Australia is trying to make simple regulation just to avoid such activities.
they won't take the risk, they needed to assure that their government still have the main control especially when it deals with financial aspects, they won't allow anything to happen without their controls, it's a big argue allowing people inside your jurisdiction will transact without paying any taxes it will ends up making your country collapsing because of not having enough funds.
I think you tell why banned Cryptocurrency because crypto market is unstable and many government said always risky for scam.i have see now many countries do not accepted legal Cryptocurrency,in fact it will be possible to Available crypto accept every country but need to recognized most popular then is possible.
Cryptocurrency transaction cannot be trace this give opportunity for drug dealers,Terrorist and Arm dealers to transact globally,without any form of check and arrest, this Illegal deal is detrimental to the society and the global world at large,Also government want to be incharge and control the economic development of the country, this cannot take place with cryptocurrency reason why they ban cryptocurrency.
These are just the negative effects of decentralized platform. Governments actually don't have any control of the different transactions including these criminal transactions. Money laundering would be very easy for those opportunists. There should be an alternative to this issues at hand as bitcoin is targeting mainstream. Rich countries such as Australia is trying to make simple regulation just to avoid such activities.
Many people have lost money at cryptocurrency is why many country have banned bitcoin and still not legal for using bitcoin as payment transaction, many people joined and buy bitcoin or altcoin at higher price but they have faced with more drop price of bitcoin or altcoin.
The government is afraid that the digital currency is used for deviant transactions, such as the sale and purchase of illegal drugs or firearms, and there is no other choice for the government other than banning the use of digital currencies, because the government cannot oversee transactions.
Other countries ban cryptocurrency because the government of these countries can't monitor and regulate these currencies. These coins are decentralized that the government have no control. To control the economy, the government should have at least control with the financia transactions.
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