Topic: Why lot of countries do not allow to use Crpto? (Read 4308 times)
yes because these countries feel foreign with crypto technology which is applied in the form of digital currency, it does not have an authorized and high-risk entity because it is anonymous.
I think that, all government know that how much the demand and also the value of the foreign exchange. our local currency is manipulated by government. and it has a big effect on the local currency, And the next is they think also that bitcoin may be the big competitor against the banks near in the future and they can't control it. thanks
Only one thing that they don't know, they lack of Knowledge although crypto is not the main event of this industry but the Blockchain technology itself is the big deal in the future. Blockchain will disrupt almost everything and its the most transparent technology ever exist.
For certain countries, entire constitutions are designed to make a liability deterministic of a liability on a side, and make whole should something go awry. This is one of the first peer to peer technologies on the cusp of providing the legality aspect. Yet we can't for sure protect all sides given what product features are currently scaled into the Cryptocurrencies. Time, it will take time is all.
Its because that these governments of each countries do not have the same knowledge, each of them has their own perspective and understanding to what Crypto is, mainly if you are to talk about crypto the first thing that comes into your mind is BITCOIN, and probably that these governments would not want crypto around their country is that because of how a lot of people are stating negative things about crypto and that the government would not be convinced and will choose to decline crypto.
Many countries fear that digital currencies like bitcoin will pose a great threat to the financial stability of their nations economic system. This concern of regulators is born out of plans by mainstream markets to offer trading in the currency's future. Digital currencies like Bitcoin operate with a decentralized system that is not regulated by central banks. This could create a great challenge for the financial system since digital currencies will not have a stable exchange rate that is controlled by the central bank
Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?
I think they dont allow crypto in their country because they dont have any knowledge about it. And as we all know many people spread false news about crypto and government used to believe those and we cant blame them. And maybe because it may caused some negative impact in their countries. What do you think about that?
Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?
What do you think about that?
There are countries who are not capable of cryptocurrency because there are countries who are poor and if cryptocurrency will circulate on their country then their own economy will just drop even more.
Simply because they are too afraid to use a new kind of technology that can get our lives more easier. They are basically scared or being cautious about taking and applying cryptocurrency to daily lives. They think this technology must be fully researched and understand its limits and full capability of cryptocurrency and blockchain technology.
I think lack of knowledge is the main reasons why a lot of people in most countries were hesitant to adopt crypto. The government also doesn't recognize crypto due to negative speculations mainly on FUD and other crimes related to fraudulent acts that victimized a lot of people. I think that's a big problem that crypto were facing right now, and with an ample ways that eliminates crypto problems we really need to apply crypto together with the help of the authority.
Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?
What do you think about that?
Countries do not allow cryptocurrency because it can affect their own economy either in a positive or negative depending on the growth of bitcoins in their area.
Crypto currency denial in some countries may be caused by the rise of negative issues regarding the use of crypto currencies which certainly makes the government make a decision to reject crypto currencies because it is feared that it will threaten the country's economic and security stability
In addition to being very volatile, the fact that there are small security gaps is that the governments are not very positive. But on the other hand, people can create security vulnerabilities with the currencies they want.
Simply because they are too afraid to use a new kind of technology that can get our lives more easier. They are basically scared or being cautious about taking and applying cryptocurrency to daily lives. They think this technology must be fully researched and understand its limits and full capability of cryptocurrency and blockchain technology.
crypto is not tracked than many criminals use, and scammers in this sphere are full but find them difficult, plus there is no tax on income from this
maybe it's because bitcoin prices and some cryptocurrency prices that can't be stabilized and transactions can be seen by everyone who makes many governments and some officials in the country experience fear.
If I would be the principal of some particular country, I would be taking care about my financial and economical prosperity of my citizens. Maybe that is the reason.
they do not have enough regulation for cryptography. Governments can not control. it seems to be unregistered money. these and similar situations are not working for governments. wants to get tax. but there is no legal regulation for it. if the necessary legislative arrangements are made, it may cause other problems. the demand for the informal currency increases.
Many countries are using the Bitcoin and other crypto coins and benefiting their economies similarly the people living in countries where the Bitcoin is using are also making their financial situations better. However there are many countries where it is banned especially in Asian countries and Arabian countries due to some issues they are not ready for. If this modernism of currency enter into these countries then they will also make their economies better and can get success.
Cryptocurrency is risky and many countries government does not allow this since they don't have on having benefits allowing their money to circulate outside in regards with cryptocurrency.
for many it is a good way of earning and it increases the growth of a wealthy population that is not very profitable for the state
The reason many countries do not allow Crypto to get some tax from their people. Most of the cryptographic transactions occur in the main exchange, meaning that taxing them is not a big deal.
Jump to: