Topic: Why bitcoin is not supported in some countries? - page 13. (Read 98470 times)
That's because bitcoin is not really for everyone and it's contrary to what other say that bitcoin is the currency for the people. These countries has its own governing policy and beliefs that bitcoin and the cryptos can somehow affect the their economic status negatively.
I think banks have a great deal to do with it because you know Bitcoin was created for us , to help people and yes you work but you work from home and you work for yourself and normally they don't agree with this, given that Bitcoin is considered an enemy of the economy of some countries.
Many countries are afraid of bitcoin, this is because bitcoin can not be controlled so it can be used for speculators to play price, this is what makes many countries not supported bitcoin.
Bitcoin is unstable, perhaps that's why States are afraid to accept it. Or it's just a matter of control, as bitcoin assumes decentralization and independence from the government.
Most likely, the state has more questions on regulation and taxation of bitcoin. All seek to control it at least for their country.
Unfortunately it is a yes, that some people are not supporting bitcoin because they not velieve in the principles and legacy of the company and they consider the manual or traditional basis in all kinds of transactions.
A cryptocurrency is valueal than any paper money. How is legal and government accept it? Just like kidding the economic 
Yes, some countries do not support Bitcoin because every country has its rules and laws. And in some countries Bitcoin is banned. And some countries have accepted Bitcoin. People in those countries use Bitcoin. In many countries, Bitcoin ATM has also started. Those who have been able to make money transfer bank ATM via Bitcoin ATM. There are only a few countries that celebrate Bitcoin illegally. Because the Bitcoin platform seems to be an illegal platform for the government of those countries. And they think that using this platform can lead to black money in their country, so that they Damage can happen.
Most of the countries just want taxes and regulations for bitcoin trading, to make sure that people don’t use it for illegal purposes. Otherwise, the general consensus is that bitcoin is illegal if its used for legal purposes. If I am not mistaken, only Venezuela has banned its citizens to use cryptocurrencies, so that they promote their own governmentally controlled oil-backed cryptocurrency called Petro (which sounds a bit like a nonsense).
Indian Bank BTCXIndia was the first btc exchange built in India. While following KYC and AML guidelines, and allowing instant Indian rupee deposits and withdrawals, BTCXIndia was forced to close by their bank, which no longer services btc businesses
Each country has its own policy and some governments are afraid to accept something that can not be traceable so they are against bitcoin
it's just that some countries do not benefit from bitcoin because they can not control it and therefore impose prohibitions and restrictions
We cannot say a clear cut answer why Bitcoin is not supported in some countries the reason may be government may be fearing of money laundering or else people may be misusing the currency for other illegal activities since Bitcoin is a digital decentralized currency and there is no third party interference in Bitcoin. It is totally free from Bank or any other governing bodies so the government fear the use of Bitcoin so it is not supported by the government in lower developed countries.
Due to blockchain technology it is not possible for any government to control the bitcoin trading. Governments are planning to accept it as legal with some guidelines and rules. On the same side some people are misusing bitcoin for their personal benefits which totally misuse of digital currency and technology both. Transaction are non reversible as compared to other physical currencies. Once the purpose and idea behind the bitcoin will be understood, it will get legal status. Very soon bitcoin will rise globally.
First of all, we need a clear legal framework for the development of cryptocurrency. Bitcoin represents the cryptocurrency system, of course it is often seen as the only cryptocurrency worth to be considered by investors and government. However, how long does it take for the government to complete the legal process for Bitcoin? Not everything is as easy and fast as the United States, Japan, Korea did.
Some governments are scare of bitcoin because they can't control it since we all know that bitcoin is decentralize and they can't take charge tax for those who are holding bitcoin that is why they don't want to support bitcoin.
In China btc ban is strictly on banks, as the central banking authority, The People’s Bank of China is owned 70% by the Chinese government.
the government dont want to take a risk about the scammer and other criminal using bitcoin, like a corruptor using bitcoin as the media of transferring money, so the government choose to block bitcoin and cryptocurrency because it can traceable by government
the best btc qualities are its worst flaws and make governments nervous. This lack of central authority is the main reason why btc is being banned. If btc or any other cryptocurrency become mainstream and universally adopted, banking systems could become useless
In some countries it is not supported because they do not know about the importance of bitcoin. And some countries are afraid of bitcoin because it will cause some illegal actions such as laundering black money.
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