Why Government does not like crypto? - page 28.

Dobby070

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www.codex.one

Quote from: ayesha703 on August 21, 2018, 01:13:48 PM

Cryptocurrency is the most popular terms nowadays. People like cryptocurrency so much. Many people are involving in the crypto world. Everyone wants to earn money from cryptocurrency. While people are liking cryptocurrency, Government does not like it at all. In some countries, the government banned the cryptocurrency. What is the reason behind this banned?

Soon, government will going to accept what cryptocurrency really is. It will be a tool for them to govern their people like initializing a voting system based on block chain. Or government payment with tax as soon as they accept it as their mode of payment for a country.

Cemploon

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CurioInvest [IEO Live]

Cryptocurrency is popular with many people and many people expect money from Crypto. However, this is very different from the government and does not give distribution permits about Crypto. The government bans because of many factors, such as money laundering and many fraud prevention measures that cause people to lose money.

Cam Calvin

newbie

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maybe because Crypto is vulnerable to fraud and also if Crypto is authorized in a country where real work won't be needed anymore so that the income won't work. but I don't understand all that because a lot of things are interrelated so that it can happen. others like Crypto because they can get results from Crypto so they keep Crypto working for them.

Ayomiqueen

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I will say government never want anything that can't be control by them to exist , especially when it comes to money making and freedom from tax and all laws that has to do in favour of their cabinet, and this are some reason they will never want to comply with crypto as it is decentralized and can't be control by them and also it has create freedom to so many people and making people to be rich with no hustle or has to go through a process laid down by government but some see government see crypto as a way of new life and are embracing it why some are still thinking which step to take .

faadhilah

jr. member

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I don't know maybe the government has its own reasons why it doesn't like crypto, maybe crypto is considered not to provide good benefits so there are some countries that have not agreed to this crypto

Menawi12

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Quote from: Dreaman_Fly98 on December 23, 2018, 12:27:51 PM

That's easy. Because they can't control it, at least not not. There are no laws so they are afraid

Its true, government dont like and hate bitcoin because they can not control the supply and government can not change transaction data. Bitcoin is decentralized cryptocurrency and i think no one laws can touch bitcoin.

Visteryy

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Quote from: danggoron on December 23, 2018, 06:43:30 PM

Quote from: furball64 on December 23, 2018, 05:45:24 PM

Once, Rothschild said: Who controls the money of the state, he controls the state itself. This is the case.
It is for this reason that the governments of independent states do not want to allow uncontrolled means of payment into their territory.

Yes, that's the most reasonable reason. The government cannot fully control cryptocurrency. So worried about economic stability in the country. We cannot fight that, as long as the government provides the right policies, moreover, the cryptocurrency also has many positive sides.

they themselves fear that bitcoin will make them difficult to manage and difficult to control by non-declarative digital currencies as well as no tax regulations.

CuriousGeorge

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KUWA.ai

Quote from: virtual_miner on December 23, 2018, 01:46:45 PM

Quote from: Baimovic on December 23, 2018, 12:54:55 PM

Quote from: aji567 on December 23, 2018, 12:42:18 PM

Because crypto cannot be regulated by the government and the government wants to control crypto which can be used to tax crypto users.

that's just one of the things that makes the government dislike crypto. actually there are some things that make the government dislike crypto, which is the unstable crypto value and is considered to be used as a tool to fund terrorists because crypto has a peer to peer transaction system that makes it easy for people to send large amounts of money without others being suspected.

A lot of cryptocurrency money launders have been arrested, look at the BTC-e case. US law enforcement agencies, as well as China, are always interested in and watching this market. In addition, they are planning to apply blockchain to the projects they need

They are interesting to only take the benefit from the blockchain to be applied on their specific project. they are still watching this speculation market anytime. Consider about the fact that the country is still thinking do they need to created regulation to the crypto?

danggoron

full member

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Quote from: furball64 on December 23, 2018, 05:45:24 PM

Once, Rothschild said: Who controls the money of the state, he controls the state itself. This is the case.
It is for this reason that the governments of independent states do not want to allow uncontrolled means of payment into their territory.

Yes, that's the most reasonable reason. The government cannot fully control cryptocurrency. So worried about economic stability in the country. We cannot fight that, as long as the government provides the right policies, moreover, the cryptocurrency also has many positive sides.

Bomber007

copper member

Activity: 112

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Velic Ecosystem

New and disruptive technology is not always welcome with open hands especially a technology that has the power to I disrupt the present way of doing things, Cryptocurrencies would make it hard to track the tax amount that people are supposed to pay.

VPScreator

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It depends on the government of which countries. In my country, supported cryptocurrency and the news was a lot of reports about it. In the spring and summer cryptocurrency specially stoked.

furball64

member

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Proof-of-Stake Blockchain Network

Once, Rothschild said: Who controls the money of the state, he controls the state itself. This is the case.
It is for this reason that the governments of independent states do not want to allow uncontrolled means of payment into their territory.

Tilim@Tilim

member

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Fast, Smart, Trustworthy

It's simple. The government of any country wants to control any income of citizens to control and collect taxes.

jcmansah7

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The government does not like the use of cryptocurrencies because of the decentralized peer-to-peer system which allows people to send huge funds from one person to another without using the central banks as a medium. Governments would lose huge amount of monies if cryptocurrencies are accepted to be used as payment for transactions. The fees charged on sending monies from one person to another on blockchain does not go to the government but rather it goes to the miners of the network. this would cause the government to lose huge funds out of monies that are not taxed.

Inu.Guren

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homt.net

Quote from: Dreaman_Fly98 on December 23, 2018, 12:27:51 PM

That's easy. Because they can't control it, at least not not. There are no laws so they are afraid

yes i agree with you, goverment can't control the cryptocurrency distribution, they can't tracking the transaction in blockchain that's why goverment don't like cryptocurrency at all, because cryptocurrency in blockchain is a freedom

sashu

full member

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The Exchange for EOS Community

because the government does not like anything what they can't to control

bgpsq

full member

Activity: 238

Merit: 100

Because they do not understand it, they do not know how to regulate it, how to collect taxes from it and so on, everything new is not popular.
But hope that this will change soon.

virtual_miner

sr. member

Activity: 475

Merit: 250

Quote from: Baimovic on December 23, 2018, 12:54:55 PM

Quote from: aji567 on December 23, 2018, 12:42:18 PM

Because crypto cannot be regulated by the government and the government wants to control crypto which can be used to tax crypto users.

that's just one of the things that makes the government dislike crypto. actually there are some things that make the government dislike crypto, which is the unstable crypto value and is considered to be used as a tool to fund terrorists because crypto has a peer to peer transaction system that makes it easy for people to send large amounts of money without others being suspected.

A lot of cryptocurrency money launders have been arrested, look at the BTC-e case. US law enforcement agencies, as well as China, are always interested in and watching this market. In addition, they are planning to apply blockchain to the projects they need

2tang

sr. member

Activity: 1414

Merit: 259

Undeads.com - P2E Runner Game

it doesn't matter as long as the government doesn't ban crypto ownership, I don't really hope that the government will support crypto and ICO because I believe they have good reasons for the policies they make, I think they care for us because they are afraid of people being scam or suffering heavy losses , but I think everyone is aware of that risk and our job is to minimize that risk

Baimovic

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Merit: 100

Quote from: aji567 on December 23, 2018, 12:42:18 PM

Because crypto cannot be regulated by the government and the government wants to control crypto which can be used to tax crypto users.

that's just one of the things that makes the government dislike crypto. actually there are some things that make the government dislike crypto, which is the unstable crypto value and is considered to be used as a tool to fund terrorists because crypto has a peer to peer transaction system that makes it easy for people to send large amounts of money without others being suspected.

Topic: Why Government does not like crypto? - page 28. (Read 15123 times)