Why Government does not like crypto? - page 66.

dodgecharger

hero member

Activity: 1005

Merit: 500

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?

A very important reason is that the government can't regulate the trading of cryptocurrencies, and some illegal organizations like to trade in cryptocurrencies. Lips sealed

danwanyd

jr. member

Activity: 126

Merit: 1

The government will not support cryptocurrencies. The development of illegal transactions can cause a lot of losses for all parties. However, cryptocurrencies are decentralized and cannot be regulated by the government at all. So the government doesn't welcome encryption.

audyearls

jr. member

Activity: 215

Merit: 1

but in some countries crypto is even legalized and used as a legitimate payment instrument, maybe a country that has not yet allowed its people to use crypto because of the fear of the risks involved in crypto, as it is now when crypto prices are experiencing a drastic decline in energy, but hopefully along with the market recovery later, countries that allow crypto will increase

Matteo.b

full member

Activity: 356

Merit: 100

May be from the income taxes coming from it. They can't hold the in and out of a certain profit coming from crypto. For many reason on different state. Government itself doesn't control crypto, may be someday it will made some resolution or an agreement.

optap

newbie

Activity: 36

Merit: 0

people using the crypt do not pay taxes, and this is even less revenue for the government

calandra78

copper member

Activity: 840

Merit: 114

Because it has no formal foundation and regulating authority, bitcoin is prone to being misused for illegal transactions, money laundering, and terrorism financing. This has the potential to cause a bubble of value. Because speculative virtual currency transactions. Not only does it harm the community later, such transactions can also disrupt the stability of the country's financial system.

nidacoinlove

sr. member

Activity: 588

Merit: 254

Quote from: Btcvilla on September 21, 2018, 11:47:30 PM

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?

As far as I know, every government does not have full authority over cryptocurrency, so the government never hates Cryptocurrency. the problem is at the banking center in the country, as happened in china. China's banking authorities have banned and determined crypto presence in their country. that is why the government prohibited it because of the wisdom of the institution.

It is clear to everyone that cryptocurrency is a threat to the old banking system and banks will never like it grow and overtake them or the banks don't want to be bypass by any other system with economic activities. Governments on the advise of banks take decisions about crypto.

karramov

member

Activity: 448

Merit: 10

Why should the government have free money that is not taxed. So you're not paying the government anything. I think you understand.

Fedollam

jr. member

Activity: 98

Merit: 1

Governments do not like the crypto because it is a shadow tax-free market. Also, on the basis of the crypto currency, crime is rampant.

Btcvilla

sr. member

Activity: 1078

Merit: 270

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?

As far as I know, every government does not have full authority over cryptocurrency, so the government never hates Cryptocurrency. the problem is at the banking center in the country, as happened in china. China's banking authorities have banned and determined crypto presence in their country. that is why the government prohibited it because of the wisdom of the institution.

MOProgress

full member

Activity: 868

Merit: 116

I think there are many factors, one I believe is that Crypto posses treat on Government as they may not be able to have total control of the people, for instance people will be lazy to work in government offices and that is a loss to the government and that is why most government want cryptocurrencies to be regulated and poses huge tax on its adopters.

Beatrixx

newbie

Activity: 34

Merit: 0

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?

In my opinion, because governments are afraid of the risk of gambling. Many serious incidents happen, they do not want the country has many evils.
Maybe the governments have yet to find a new direction, they still do not trust much in this market.

aimata27

member

Activity: 531

Merit: 10

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?

Well I think why they ban cryptocurrencies is that they are only protecting their own national currency and also concerned for such things like money laundering and any other illegal activities.

barnes13

hero member

Activity: 1274

Merit: 521

7enius - Your Cryptocurrency Marketing Consultant

Quote from: skovbitcoin on August 21, 2018, 01:37:14 PM

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?

Because the crypto currency will destroy the entire economy of the planet. Crypto currency is a way to make money only for ordinary people, but not for the government. Who wants to go to work for a factory or office, usually to earn money and give some of this money to the state in the form of taxes? If you can sit at home, in a comfortable for you conditions, sell and buy a crypto currency. And you do not have to share with anyone, even with the state!

Yeah with a little extra info, but not all governments banned the cryptocurrency. For example, in my country cryptocurrency can still be traded at the local market. But on condition that they have to pay taxes to the state. So it can be concluded that if the buying and selling activities of cryptocurrency can benefit a country through taxes, then they do not need to ban it.

Psec

copper member

Activity: 140

Merit: 0

The main reason why government hate cryptocurrency is because of the anonymous nature of the technology behind it.

Govts hate something that can't always have access to scrutinize, government officials want to track every financial transaction you make and they see crypto as a threat to that.

adpinbr

sr. member

Activity: 1078

Merit: 254

Most of the reason is that bitcoin is uncontrollable and volatile which makes it risky not only for investors but also for users. It would be hard to trust on crypto if the price will simultaneously go low then suddenly is high. if the price is too low, working capital is too low which makes it a high risk for investors to invest. if the price is too high we might just randomly buy and buy something then the price will suddenly go down and companies will be in debt if that happens. Users are at risk too because of scammers and again the unstableness of bitcoin.

umrohyuk

newbie

Activity: 155

Merit: 0

government will think that they cannot able to control the economy of the country because of cryptocurrency. so far, crypto has given easy way to get paid without any control from government. if people have eager for crypto, it may give bad effects on government in terms of profit.

amar786

newbie

Activity: 36

Merit: 0

crypto is purely secured and could not be traced. governments are fearing of that crypto can be utilize to illegal work out. in my country which is Pakistan crypto is not accepted. because government have fear that it can be use for money laundering and also government have not sources to trace crypto transactions.

sapnu

sr. member

Activity: 1050

Merit: 286

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?

There are many possible reasons. First of all, most of the cryptos are decentralized meaning, government has no full control of it. Another thing is the market volatility wherein consistency on the market price of cryptos are not stable which would be a huge issue since a currency must have stability on the market value to promote equality in the market.

Clark05

sr. member

Activity: 1274

Merit: 263

There's are a lot of reason why the government of the other country does not like crypto.

Topic: Why Government does not like crypto? - page 66. (Read 15123 times)