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?
The governments are not confident about the future of cryptocurrency. Most of them do not want to be part of something they believe it is a bubble that might burst. 
Topic: Why Government does not like crypto? - page 5. (Read 15128 times)
Because the government doesn't like things that can't be regulated. Just imagine how much money is spent every day in crypto. And the government can't regulate. That's why they forbid it in their country.
Well, you are right, every country must have regulations that apply in their country and Crypto is present with a new system so that there is no regulation in the government, actually if the government wants to enter crypto in its country, then it can make new regulations so that new policies will appear to Crypto.
Government most times, will only like what they have the ability to control, else they may stand against it.
Looking at it, the decentralized nature of cryptocurrency is another concern to them, because still they will not be able to control it.
Looking at it, the decentralized nature of cryptocurrency is another concern to them, because still they will not be able to control it.
Because the government doesn't like things that can't be regulated. Just imagine how much money is spent every day in crypto. And the government can't regulate. That's why they forbid it in their country.
First and foremost, cryptocurrency and blockchain technology operates on a system which is described as being a decentralized ecosystem. This system has no central authority which will have a total control of how things are run on the system. Most government dislike the idea of the system not having a central authority in charge of controlling the amount of cryptocurrencies in circulation. They also believe that using cryptocurrency will make it difficult for the government to monitor people who pay taxes and those who don't pay taxes. In fact they describe cryptocurrency and blockchain technology as a system that will prevent people from paying taxes. Another reason why some government are not in support of cryptocurrency is the idea that it has no restrictions to the amount of money one person can send to another person within a short period time which is non-traceable.
The government does not like crypto because they think it encourages money laundering, also they see it as encouraging untraceable financial transactions. The government also think that if crypto gets mass adoption, the banks will be irrelevant which wouldn't be healthy for the government.
In summary Government is against crypto because they believe, if you use crypto, you are trusting your money to a complex system you don’t understand, people you know nothing about, and an environment where you have no legal recourse.
In summary Government is against crypto because they believe, if you use crypto, you are trusting your money to a complex system you don’t understand, people you know nothing about, and an environment where you have no legal recourse.
Cryptocurrencies run on a technology known as blockchain, which is a means of solving the double-spending problem. This is the issue of a digital currency being copied and spent more than once. Banks have solved this issue by the distribution of physical currency.
The blockchain functions as a digital ledger, with every transaction (known as a block) being securely linked together using encryption and cryptography. The blockchain is verifiable and available to all owners of Bitcoin. The blockchain is also a lot more secure, meaning fraud and hacking attempts are unlikely to work. (We’ll come back to this point later and discover why DeepOnion, a newer cryptocurrency is superior to Bitcoin in this respect). Centralised banks are more open to hacking and fraud attempts than cryptocurrencies on the blockchain.
The blockchain functions as a digital ledger, with every transaction (known as a block) being securely linked together using encryption and cryptography. The blockchain is verifiable and available to all owners of Bitcoin. The blockchain is also a lot more secure, meaning fraud and hacking attempts are unlikely to work. (We’ll come back to this point later and discover why DeepOnion, a newer cryptocurrency is superior to Bitcoin in this respect). Centralised banks are more open to hacking and fraud attempts than cryptocurrencies on the blockchain.
The reason is that they think it's illegal. Because the government can't regulate crypto, they think it should be banned. However, this is wrong, because with the proper approach, you can safely use crypto and without various restrictions.
Government always hate things that they can control and this is the simple reason why they hate crypto and the idea of decentralization. Government want to keep people and all system under themselves but with crypto, people will enjoy financial liberation
It is advantageous when all the schemes go through them when they all the process I can control,and to launder money,and most importantly to have and make money only people talking about it who did not know,and here all schemes as at hand can be the key to control and still does not work,so the SBI that the biggest zagvostka,so while not particularly fond of,and find a way through,so will love)))
Many government agencies do not like cryptocurrency. I think they are just afraid of losing control of people. But I think the government will be able to adopt blockchain technology someday.
Now in cryptocurrency highest people are involved and related to doing something like buying, trading and mining. Government always try to take control all of money in country but behinds cryptocurrency government has no control and also don't get any kinds of taxes.
What I'm about to say does not apply to the government alone but it's human psychology. What we can't control we tend to dislike. Same with government and crypto they can't control it so they fight to destroy it.
but recently the crypto market is getting accepting by most of the governments in positive way of making guidelines and new laws soon we will see more country getting accepting crypto
In my own country cryptocurrency is prohibited from being allowed to sell because it is not included in government taxes, and the government is not responsible if there are problems in the transaction, so he rejects all cryptocurrency.
Well in the first place, I think that in crypto there are lot of privileges and opportunity We could get from it. Though not all government nations are against with it. Just like Japan, Russia, Europe and others. They are also both differ to one another, it means it is incomparable due to centralized vs Decentralized.
The government would use the cryptocurrency for its own earnings, but it cannot do so because the cryptocurrency was originally conceived as a decentralized asset
The government will not benefit from crypto. All fees, taxes, and transaction tracking will be ignored by the government and cannot be controlled. It breaks down the current economic and economic rules. If the government agrees to legalize crypto, it is a threat to the banking industry.
It is even difficult to imagine how much money is laundered with the help of cryptocurrency and the government can not affect it, there is no tax revenue, and no one will voluntarily pay them
The state's fear of cryptocurrency really makes sense, as we know that crypto is a new currency that can change the world, especially in managing a country's finances, so the country is afraid to adopt cryptocurrency because Cryptocurrency can eliminate the value of a currency issued if a country cannot be resolved by crypto in the technology market.
I think the main reason they don't like cryptoqurency is because they have a high risk and cryptoqurency is also anonymous, besides there is a lot of negative news about illegal transactions using crypto and this is also one reason why they don't like crypto. but in some countries it has begun to accept the presence of this cryptoqurency world.
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