What are the reasons behind banning cryptos? - page 5.

Accts4u2

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Quote from: ClaytonLWils on May 28, 2018, 11:33:17 AM

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 a lot of reasons as to why some countries have banned cryptos. Some have banned it because they realize that it gives their citizens freedom to use their money anyways they see fit with no control whatsoever by the government. Some have banned it because the transactions are untraceable and they have not found any effective way for them to tax the crypto earnings yet.

Dianafangki

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Quote from: Vargum on September 03, 2018, 12:04:46 AM

think the ban on crypto-currency in some countries is mostly due to the fact that the state can not regulate the crypto-currency market, the inability to tax income from crypto-currencies, because the state can not track transactions with the population. I think with time the situation will change

if there is no supervision and only prepare rules for taxes and what is permitted / not done, then the situation will not be controlled, at a minimum they must get the full role of the local exchange market or actually control total income through taxes, if this is left, then inflation can happen at any time.

rynanosih21

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The ban on Cryptocurrency in many countries can be because Cryptocurrency has a great opportunity for crime.
The crime is, for example, money laundering, the purchase of illegal drugs.
This reason is quite strong because Cryptocurrency is anonymous so there is the concern for the government in dealing with Cryptocurrency.

Rituvohra01

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Every government has different rules and regulations Crytos are invisible. So government cannot control them. And government can't take tax on every transaction.

itsik78

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The decentralized architecture of financial relations offered by blockchain technology is what really causes aggression and panic in all countries of the world. It is unprofitable for all states that try to control the life of each person as much as possible.

nicecrypto

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Quote from: CoinFoxs on May 28, 2018, 11:52:42 AM

Decentralization of crypto is the main problem to any country because people use these platforms for criminal activities like money laundering and government officials are unable to trace them because transactions are invisible. That is the reason why government don't support crowdfunding.

I totally agree with you. I basically think most governments that have banned crypto know that this can be used by the criminals to move monies around easily without a trace, I once saw a move back in 2015 titled "Hacker" the use of Bitcoin to move money was mentioned in the move and then I didn't know anything about Crypto so that didn't draw any attention to me but years later, here I am and I understood what they did then. so this is the fair of most government.

Vargum

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think the ban on crypto-currency in some countries is mostly due to the fact that the state can not regulate the crypto-currency market, the inability to tax income from crypto-currencies, because the state can not track transactions with the population. I think with time the situation will change

Sevarchik

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Any ban means one thing: stopping using this instrument.
governments ban cryptos because they himself do not fully understand what is it, and think better if their citizens not use it

matico

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When people or group of people are completely hostile to cryptocurrency, there are many factors in play that contributed to this attitude. One of the major fact is ignorance which will breed fear and result in negative action!

zmkriel

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Quote from: ClaytonLWils on May 28, 2018, 11:33:17 AM

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

Most common reasons for the government to banned cryptocurrencies are due to taxation. Crypto transactions are not traceable as of the moment so it will be hard for the government to declare tax on each users. And also cryptos can be use in illegal way which scares the government because the transactions can be anonymous.

itasannah

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every country must have their own policy on cryptocurrency. we know that not all countries can accept cryptocurrency, there are many countries that still cannot receive cryptocurrency. a lot of negative issues about cryptocurrency and also the risks that must be accepted as big losses become one of the triggers why a country prohibits cryptocurrency.

alfimanis

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but if in my country there is no strict prohibition on not using crypto, it's just that the government calls on people to be careful when using cryptocurrency because in the crypto world there is a huge risk, and maybe the government is afraid that there will be a loss in society. which is very big just because of participating in the crypto world

judyrob

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Crypto is considered something that is dangerous and can even cause great harm. This is the reason many countries prohibit fundamental crypto for their country. Moreover, also crypto can even be used as a thing to buy weapons in the war because the transactions that are difficult to track. It would be dangerous for the world no doubt. but on the other hand, if use it as investment assets can also generate good value.

thaokhuyen03

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The nature of the blockchain technology and the electronic money is not bad. Images of them are affected by the use of and in the bad pursuits. Because they produce a transparent environment for currency, a fast and cross-country payment form. Each country has its own perspectives and monetary system operators; Accepting electronic money is a very complicated problem. I think it takes a lot of time for this

cewekimut

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Banning the use of crypto is happening in my country. My country regulation is very disciplined and I saw the news about the banning of crypto. The Government is providing information that they fear if the manipulation of money. And they fear if exploited by irresponsible people to finance terrorism. Of course, the Government very alert for such incidents and things like that does not happen. But for me as long as it can be used for good so not a problem.

rafi035

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Quote from: ClaytonLWils on May 28, 2018, 11:33:17 AM

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

many countries have negative thoughts about crypto currencies as money laundering, crime funding and other negative news I think crypto currencies are good or bad depending on the intention and purpose of the investor itself in investing

zero714309

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Quote from: CoinFoxs on May 28, 2018, 11:52:42 AM

Decentralization of crypto is the main problem to any country because people use these platforms for criminal activities like money laundering and government officials are unable to trace them because transactions are invisible. That is the reason why government don't support crowdfunding.

Really true,very much the thieves or embezzlement of money and then keep their assets in the form of btc with the hope their assets can not be on the track where the origin of its.Crypto is indeed remarkable,a lot of positive sides but also a lot of dark side,depending on how you view and people use.

Joshapat

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I am sure that most countries are banned from crypto for anonymous and decentralized reasons, as we know that anonymous features can be used by everyone to hide their money so that it is not subject to tax obligations and is certainly used for illegal transactions.

DevelopmentBank

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Quote from: ClaytonLWils on May 28, 2018, 11:33:17 AM

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

As usual, because of SCAMMERS. Some people are just too greedy and take advantage of other people. To protect this unwitting victims, the governments make blanket bans on everything because they themselves know of nothing else they can do to stop it.

I guess you can't blame them too much because they have to do something, the sad part is that they don't do enough to really study the problem and give the right solution.

Priaa165

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Quote from: stefany101 on September 01, 2018, 11:03:41 PM

Quote from: ClaytonLWils on May 28, 2018, 11:33:17 AM

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

Like you, I also don't know why there are still some countries who banned cryptocurrencies in their area even they already know the technology behind it and how it can help people who are really needing money. There are also new published ICO's which have a restricted countries to buy tor use their tokens.

As we know that the government won't allow intimidation from something it can't control. And you know that government want total control and if it can't have it then it considers cryptocurrencies an evil that must be killed. I think the major reason for banning cryptocurrencies is that governments hardly understand them, but most glaring is the hype about them taking over traditional fiat money and monopoly from banks. Right mate?

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