There are many resons for governments to ban cryptos . Some countries banned cryto currency because they think that crypto will make their national currency to fall and
other reasons are that it can be used for illegal activities and money laundering.
Topic: What are the reasons behind banning cryptos? - page 10. (Read 2092 times)
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
Regards
The main reason is that governments understand that crypto currency can replace ordinary money and they lose a large piece of pie. All these stories about terrorists or drugs are bullshit
. It was always, and there is nothing to do with crypto currency. Cash is much easier to track, so it's pointless 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
Regards
Crypto currency is decentralized and therefore the government can not regulate crypto currency under its control. And the government is afraid the crypto currency may threaten fiat currency, and therefore the government forbids it.
Everything is elementary - there is no control over the flow of money, because of which, do not go to the treasury of the state. There is no control over who and for whom transfers money, so it is possible to pay drugs, weapons, etc. - Shadow structures. Very great is the possibility of deceiving one side of the other, which leaves citizens not financially secure.
Governments don't permit anything they perceive it's a threat to their economy, but anyways crypto can be used to shape the economy better if regulated properly. Also, there are huge scams on crypto and its decentralization and anonymity makes it difficult to trace bad actors amd hence the governments mostly consider banning to prevent these.
Many countries don't like crypto currencies. The reason for this is a threat to the current economic order. If crypto currency is successful, many rich will lose a lot of money..
Yes many countries doesnt like about crypto they think it has a bad impact to the economy. Banning cryptos due to lack of education about crypto on how it works and how the users benefited of it. 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
Regards
There might be several reasons for a government to ban crypto. One of the reason is that they are afraid crypto currency will be hard to control and will benefit the underground world. Also, the current centralized banking system will be in danger, which the government never wants it to happen.
I believe that the ban on cryptocurrency is related to money laundering. Many scammers withdraw.
When the state learns to control investors, then the crypto currency will become legal
When the state learns to control investors, then the crypto currency will become legal
Yesterday saw the media exposed a scam ICO project to promote in my country. The state prohibits encryption to protect some blind investors and keep them away from scams.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
I think the most reason is that they are not ready with the cryptocurrencies and they don't know what they need to do with the cryptocurrencies. I am sure that soon, they will accept cryptocurrencies especially if they can see that their people can get a better life from cryptocurrencies because cryptocurrencies offer a new way to their people to get a new source to make money. besides that, I think they want to protect their people from being a scam by the cryptocurrency which we already have seen before.
Many countries don't like crypto currencies. The reason for this is a threat to the current economic order. If crypto currency is successful, many rich will lose a lot of money..
decentralization, that is the main reason because with the system it will not be easy to control, and basically the function of government is to control everything
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
Some countries think that the crypto currencies will make their national currency to fall so they don't want that to happen that is the reason they are banning and shutting down the exchanges.And other reasons are the it can be used for illegal activities and money laundering. Regards
Well, as you know that cryptocurrency is based on decentralized process. It is the main reason to get banned from some countries. As those countries don’t allow this process in their countries so for this reason it is being banned. But now cryptocurrencies are being accepted in many places and also many countries are removing regulations from it.
Because encrypted money markets can have an impact on national sovereignty.
So this is not allowed by any country, especially small county.
So this is not allowed by any country, especially small county.
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
Regards
The reason is to eliminate illegal activities such as money laundering.
Although cryptocurrency has many advantages, it has also helped some anti-money laundering, tax evasion, fraud, and its illegal activities! I think some places still pay more attention to these aspects of safety!
On the one hand they want to protect people from investing in scammy ICOs and a result losing their money, but on the other hand
I know that Google and Facebook really want to create their internal crypto, so they prevent competency against themself.
I know that Google and Facebook really want to create their internal crypto, so they prevent competency against themself.
They ban crypto from their country in order to protect their own people from financial crisis because they can't control it, it is also like facebook banning crypto ads because they say that crypto ads are against their policies because it can harm their users.
Because such payments are extremely difficult to track-transactions take place by agreement between the buyer and the seller, who may not even know each other's names. No banks and payment systems record their personal data and do not issue at the request of law enforcement agencies. And do not ban cryptocurrency! Everyone who needs to find a way to get a bitcoin wallet.
Jump to: