What are the reasons behind banning cryptos?

kaya11

full member

Activity: 1344

Merit: 110

SOL.BIOKRIPT.COM

Quote from: ClaytonLWils on May 28, 2018, 12:33:17 PM

Some countries have already banned cryptos. But i am not sure behind the reasons. Could you please share your thoughts on the reasons of banning cryptos?
Regards

There lots of reasons, and one is that the governments cannot benefit from it, means that they can't tax it and gain profits. Another is that it can be used to run illegal activities, mainly sell drugs and other things that aren't purchasable in the normal markets. Others says that it is a cause of scam, people lost money in this investment and the culprits are hard to find and sue them, even though crypto isn't born yet there are already scam accusations in other investment, sad but true.

firmino10

member

Activity: 372

Merit: 11

elysian.finance

first and foremost, it is not banned in some countries. some reasons why it is banned is because there is no total control and government cant place policies that control or regulate cryptocurrency, since it is a decentralize market. sometimes also we are scared of change or what we don't understand. some changes that challenge the old system. but some government are trying to understand the cryptocurrency and see how it can benefit their economy. they also forming new policies that can checkmate the system because of scammers and fraudster.

diminizio

full member

Activity: 585

Merit: 100

Binance #SWGT and CERTIK Audited

Quote from: ClaytonLWils on May 28, 2018, 12:33:17 PM

Some countries have already banned cryptos. But i am not sure behind the reasons. Could you please share your thoughts on the reasons of banning cryptos?

Almost all of them think the same, the reasons given by the state for banning them sometimes don't make sense, such as the fear of the existence of cryptocurrencies that might destroy the existence of traditional money. But this is not entirely true, some countries also impose taxes on cryptocurrencies because they are considered legal as commodity futures assets. That means cryptocurrencies are still allowed in most countries that consider them to be investments, some of which do not think they are good for transactions.

LUCKMCFLY

legendary

Activity: 2548

Merit: 1873

Leading Crypto Sports Betting & Casino Platform

Quote from: imoet on October 07, 2018, 08:42:49 AM

Quote from: ClaytonLWils on May 28, 2018, 12:33:17 PM

Some countries have already banned cryptos. But i am not sure behind the reasons. Could you please share your thoughts on the reasons of banning cryptos?
Regards

If we can say that cryptocurrency is still underground. Bitcoin does not follow other rules.There are so many unpredictable about cyptocurrency and government can not control it. They can not follow the regulation so some criminal activities are easy to grow. Some criminal activities really get the advantages from bitcoin.

The prohibition of cryptocurrencies by some countries are measures such as showing who is in charge, and governments have that tendency to show that they are the ones in control, but sooner or later they cannot prohibit them, because it is like covering the sun with a finger, obviously the crypto economy is present and all the countries in the world are the ones that have the capacity to accept without prohibiting, I think that the easiest way for both BTC and crypto to enter the countries it is with the regulations, it is the simplest way to get the governments to enter.

Dervish doff

member

Activity: 1134

Merit: 10

I think this will not happen, accept or not by a country, like floods come, and cannot be in the weir, the world is on the verge of changes to the financial system, cryptocurrency is increasingly growing, and most of it is in the know by the crowd, which leads someone to know more about crypto, even if the state forbids, but many people ignore the ban, and keep interest in the crypto, I think the future of crypto will go forward, rest assured.

imoet

member

Activity: 322

Merit: 10

homt.net

Quote from: ClaytonLWils on May 28, 2018, 12:33:17 PM

Some countries have already banned cryptos. But i am not sure behind the reasons. Could you please share your thoughts on the reasons of banning cryptos?
Regards

If we can say that cryptocurrency is still underground. Bitcoin does not follow other rules.There are so many unpredictable about cyptocurrency and government can not control it. They can not follow the regulation so some criminal activities are easy to grow. Some criminal activities really get the advantages from bitcoin.

hoangkieu

member

Activity: 99

Merit: 10

Quote from: ClaytonLWils on May 28, 2018, 12:33:17 PM

Some countries have already banned cryptos. But i am not sure behind the reasons. Could you please share your thoughts on the reasons of banning cryptos?
Regards

There are many reasons behind the decision banning or haven't accepted cryptocurrency, but the main reason is that they can't control it at this time and they wait rules more clear and have global legality

tranquangvinh

full member

Activity: 546

Merit: 100

Quote from: ClaytonLWils on May 28, 2018, 12:33:17 PM

Some countries have already banned cryptos. But i am not sure behind the reasons. Could you please share your thoughts on the reasons of banning cryptos?
Regards

For me , the main problem here is the decentralized platform of crypto, governments can not control it, which is the main reason I think the government banned bitcoin

valetrm

member

Activity: 238

Merit: 10

Open and Transparent Science Powered By Blockchain

Absolutely in any business where training is present, there is a rule that says that learning by doing is the most effective learning. And crypto is no exception. Do not be afraid of the ban. We must try to get rich right now.

TonixGaming_14

full member

Activity: 329

Merit: 100

AGATE

It is too uncontrollable branch which forces people to think of permissiveness and accessibility, and the worst, it gives it to them.
How can the state and regulatory authorities allow this? It would be strange if they didn't forbid it.

Labay

full member

Activity: 434

Merit: 100

Quote from: ClaytonLWils on May 28, 2018, 12:33:17 PM

Some countries have already banned cryptos. But i am not sure behind the reasons. Could you please share your thoughts on the reasons of banning cryptos?
Regards

They have different reason on why they ban crypto. You can search it using google so you not need to ask on this forum because it is easy to find from some sites. When you want to ask anything, just search it from google then if you didn't reach some good answer then it is okay to ask some question about what you need to know in the crypto.

Gurjasmeet

copper member

Activity: 196

Merit: 0

i think there is a main reason to ban of crypto,most of countries has thought about crypto is helpful of decrease the revnieue of their country. because bad elements use the crypto to decrease the revnieue.

Trixie28

full member

Activity: 406

Merit: 100

Different countries have their own policies in regards on their cryptocurrency. Reason for banning for scripts are they did not follow their rules and regulations. There have not enough knowledge on how to manipulate on it.

InflamesAndrei

newbie

Activity: 141

Merit: 0

Quote from: Peri0n on October 07, 2018, 06:00:13 AM

Think logically. Many uneducated people can suffer great losses if they invest in cryptocurrency. The main purpose of the ban is to protect people.

Well, I would not say that the ban is the engine of progress, rather a steep brake. It is always better to provide a means of protection against the harmful actions of beginners. After all, the best teacher is practice. But depriving practices, we will strangle the flow of new artists in this field.

MikeyVeez

full member

Activity: 896

Merit: 102

An old thread commenting situation before a big dump caused by this news.
But now, Google, Facebook and Twitter allowed cryptocurrencies ads - what a great news, but it did not affect the market.

Peri0n

member

Activity: 188

Merit: 10

quarkchain.io

Think logically. Many uneducated people can suffer great losses if they invest in cryptocurrency. The main purpose of the ban is to protect people.

Caelanpelley

sr. member

Activity: 602

Merit: 250

There are many countries that prohibit crypto, but in fact it exists and grows. The reason countries prohibit crypto because of its high risk. Many people have taken advantage of it to carry out illegal money laundering. In addition, criminals steal passwords for your money.

mbluxs

sr. member

Activity: 938

Merit: 250

Quote from: ClaytonLWils on May 28, 2018, 12:33:17 PM

Some countries have already banned cryptos. But i am not sure behind the reasons. Could you please share your thoughts on the reasons of banning cryptos?
Regards

indeed I also heard news like that but people also still use crypto because crypto is a source of income. maybe some countries forbid for fear that crypto can be misused

BigBrother

member

Activity: 439

Merit: 10

I also believe that the main reason that many governments do not support crypto is its anonymity. Huge amounts of money go from one wallet to another, various crypto transactions are made, and governments can't do anything about it. Can't control it, can't charge taxes on it. That's why they forbid crypto.

mimienamphine

member

Activity: 252

Merit: 12

I do not really understand why governments now trying to ban or put restrictions on cryptocurrency. If they do not buy the idea of cryptocurrency, then they should leave the industry alone to function.Governments now trying to restrict cryptocurrency because they fear that they will be losing revenue. People will be using different modes of investments to channel their money.This can affect economies either positively or negatively.

Topic: What are the reasons behind banning cryptos? (Read 2065 times)