Why lot of countries do not allow to use Crpto? - page 10.

roxbit

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Quote from: randyboy on August 25, 2018, 02:46:59 AM

I don't know the exact reason why every country now did not accept crypto it is because of volatility or other problems? we couldn't sure about that but my instinct that governments don't want to accept crypto currency it is because they didn't control it by their self and many business mans will control to whole market of money if that's gonna happen.

These countries that banned or disallow the use of bitcoin permanently are afraid of cryptocurrencies dark side. The anonymous nature of cryptocurrencies means that it can be used for illegal transactions such as buying and selling drugs or weaponry. And it can also be used for money laundering or terrorism. It is uncontrollable by the government that made them think it is harmful to the nation.

LuciferEveningStar

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Quote from: kripkiki12 on August 24, 2018, 11:08:37 AM

I think less countries made actual steps banning crypto than where it is either allowed and regulated or a grey zone with rather ignorance

Yes there are more countries today who are actually legalizing cryptocurrency this year due to its price that is very profitable due to the demand in the market that keeps on increasing.

Bitlife81

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Because the government is afraid of money-laundering criminals, people who illegally use electronic money do not verify the identity of the holder and commit unlawful conduct.

automaticmoney

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a lot of countries are about to update crypto and blockchain technologies in their government and day to day business so we can expect soon or later they will also work with crypto currencies

boty

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★Bitvest.io★ Play Plinko or Invest!

I think that maybe because the cryptocurrency price movement is unstable and cannot be relied on even the price of cryptocurrency is very moving so that many people who use it experience fear because the risk is so high that many countries do not accept cryptcurrency use.

mejalipat

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many countries that are not allowed to use crypto because crypto has a price that keeps changing and is not safe because it has a high risk so it can be dangerous and harmful

randyboy

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I don't know the exact reason why every country now did not accept crypto it is because of volatility or other problems? we couldn't sure about that but my instinct that governments don't want to accept crypto currency it is because they didn't control it by their self and many business mans will control to whole market of money if that's gonna happen.

Crypto24hrs

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From my own personal observation i can to draw the conclusion that most countries that do not allow the use of cryptocurrency are doing so because of one of this reasons bellow
1.Miss information or inadequate information about the operation of bitcoin
2.Greed on the part of government and major investors of those countries
3.Fear of the unknown

mware

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Virtual currencies are self-governed, meaning they are not controlled by any government, person or a central authority. This makes monitoring almost impossible and poses a threat for government authorities (this was especially true for China). Finally, using cryptocurrencies is posing a threat to the stability of the national currency in some countries (Indonesia).

Wall_Streeet

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I think it will be implemented, but on the basis of any personal cryptocurrency approved by governments

nurseyman

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States do not like things they can not get tax. there is no reason to take taxes anyway. crypto money is anonymous thing. states are not investing or spending for it anyway.

cryptoguy1234

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The primary reason as per me is their is no focal administration to control the bitcoin and government imagines that it will influence the economy of the country.Uncontrolled dissemination of money is the significant issue which is looked by the vast majority of the nations because of which they are not announcing it legal.Misuse of bitcoin prompted numerous issues which can't be traceable.No question it is extremely advantageous and simple to use for basic native of nations yet some are utilizing it for unlawful means because of which pronouncing it lawful isn't considered as protected.

LyQaN

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The main reason for any country for not allowing the use of cryptocurrency is the fact that cryptocurrency are not under the control of any government.Government cannot control cryptos transactions.So in order to stop or we can say to prevent the misuse of cryptocurrency they ban them because people find it as a way to perform illegal dealings using cryptos as they know that they will not get caught.

Rastafarian

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The government n most countries have come to realize that transactions on cryptocurrency fetched nothing to the country. In view of this,the countries tend to stop the entire cryptocurrencies.

Chooroz

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Quote from: Nikola95 on August 23, 2018, 10:19:26 AM

Cryto could be used for criminal activities, it could be used to avoid taxes, and many countries think it is just ponzi scheme, where people can loose money.

I agree with you that is one of the real reason why many countries are not accepting bitcoin, many criminals are now using crypto for there own purposes, and i think many countries is still not convince that crypto can help our economy to be more better. So there are not supporting crypto.

kripkiki12

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I think less countries made actual steps banning crypto than where it is either allowed and regulated or a grey zone with rather ignorance

ngawethu1

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Quote from: udana123 on July 02, 2018, 12:28:15 PM

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?

As my point of view, If we do all of transactions under cryptocurrecies, it would be a big problem. Firsly, the country economy would be harmful because the government doesn't have any tax to pay the social activity of the country from the transaction. The living condition of civilian could not be improved. Secontly, they can't control the money flow of the country. Its time for smugglers and money laundering activities.

RippleSpaset

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Quote from: udana123 on July 02, 2018, 12:28:15 PM

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?

Would you let the money go?After all, the cryptocurrency dosihpor is not taxed, it can not be controlled . If the authorities allow the use of crypto, the local currency will fall, as people will switch to crypto(and the us dollar will grow )

Ayencyet79

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In my perception, a lot countries still not using crypto because they're low technology not like japan which they totally use bitcoin technology as an alternative way mode of payment. And maybe several countries afraid to used It because some Illegal way that Is easy to get In like money laundering and others.

nguyenthanhvien

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Maybe they do not have the technology to control the crypto market so they do not want to use this technology. But I think in the next few years as the technology grows they will come back to crypto.

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