Topic: Why lot of countries do not allow to use Crpto? - page 11. (Read 4308 times)
What I believe is that the government is afraid of losing control of their people's money. So far they have always argued that cryptocurrency anonymity is dangerous because it can be used for illegal activities, etc. But I do not believe in all their reasons.
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.
The main reason why many currency do not allow cryptocurrency trade is ofcourse because of the security measures. If you look why the countries are banning because of many scams issue and hacking incident which has triggered the governments to act againts crypto trade.
Other countries do not allow crypto because they are afraid of taking a big risks. Making crypto as a fiat in each country will be a big step to take and not all countries are aware that crypto is already existing.
These governments might also not ready to allow cryptocurrencies or they had different views that prevent them in permitting their people to use virtual currencies. Some governments allowed cryptocurrencies by imposing taxes abd regulations to monitor movements of the coins and lrevent from falling into the hands of men that involved in illegal activities.
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?
If I would be a president I will not only think about freshness of the system, I would be thinking about the possible effect that it will have on my country economy and people welfare. What do you think about that?
Blockchain is still in the development stage and there is no proper regulations about it. What is good is that it keeps on making a lot of progress and people slowly adopting the technology.
For me there are a lot of countries are not supporting crypto because they dont trust that bitcoin can be the future of this world and i think countries are afraid that crypto will be more supported by many people over than to support real banks. 
Opponents of the legalization of crypto-currencies often argue that the holder of an electronic purse with crypto-currency can not be identified. That with the help of bitcoins money received illegally can be transferred.
With each country having their own perception towards cryptos, we can't really blame others who prohibited their constituents of using cryptocurrencies. They believe that crypto as a threat to their country's economic growth and security as we know that cryptocurrency can be a perfect tool for cyber/criminals to sneak in money without having their identities concealed.
Other countries do not allow crypto because they are afraid of taking a big risks. Making crypto as a fiat in each country will be a big step to take and not all countries are aware that crypto is already existing.
It depends what do you call a lot of countries. If we have 15-20 countries then it is negligible when you consider there are perhaps about 400 countries existing
Bitcoin doesn't need to support banks, banks need to support Bitcoin
i think because the government of the country,now bitcoin not support almost bank and they don't relize power of bitcoin,so i guess future of bitcoin will not like now,bitcoin will accepted by many country.
Bitcoin doesn't need to support banks, banks need to support Bitcoin
i think because the government of the country,now bitcoin not support almost bank and they don't relize power of bitcoin,so i guess future of bitcoin will not like now,bitcoin will accepted by many country.
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 that country is are just aware of bitcoins non stability and they are just worried that it can harm the economy of the country which could be already not the best at all. What do you think about that?
Cause its new, no one could control it, and also its universal and imagine if people from another country that not from us and buy bitcoim from us then the money will move to us, goverment just afraid too much money move and also afraid it could be use to money laundry
What do you mean under 'a lot of'? Google search tells me that there are only less than 10 countries who banned crypto and in all number of countries of the world its actually not so much. In explanation why one or another country banned bitcoin its written that its out of their economical laws. So, they simply do not want to change their laws cause of bitcoin, changing laws is long and expansive process as I know.
yes, it not a lot of country who Banned the used of Bitcoin or Crypto Currency digital transaction. its a the Question of How to regulate the Bitcoin transaction in such country whom critical to Bitcoin, some of this issue were base on the Financial Concerns of the Businessman with in these country.i hope you also posted your bases of data for more specific reply.
Blockchain is still in the development stage and there is no proper regulations about it. What is good is that it keeps on making a lot of progress and people slowly adopting the technology.
Because in countries with no developed economies or countries experiencing an economic recession, they have yet to see the benefits that cryptos can bring to their country. If they open the door to electronic money for development in their country, then perhaps these countries will thrive on the economy.
Lots of countries not accept crypto cause their government thinks that crypto is only use for illegal activities online and with lack of knowledge on this technology they don't know that it could help their economy also the peoples that don't have permanent job with having knowledge on crypto they can really earn money.
That is the reality, the government knows what risks they will face when bitcoin and crypto come, so they are forced to ban the use of bitcoin, if there is a way in which the government can control and prohibit illegal transactions to the bicoin users, it is certain that bitcoin will be legalized.. state wants to get tax. the input and output of the money can not be controlled. also a serious competitor for bankers. also a good way to make money. countries are opposed to it. a money they can not control is troubling governments.
It is not the country but the government. People or the citizens tends to love using crypto butthe government do not loke it because they can not control it and that is what they do not want. They wantto be in control that is why they do not like it. But then it is not yhe country but the government. Not the people but those who are in controlled.
Countries consist of governments. And goverments exist to control all the things in a country. Thus governments never want to allow their citizens to use coins because they know coins are not 100% controllled.
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?
Many small small country did not allow to use crypto currency because they are not ready to use it specially when it come to use internet and electricity many of them are unable to avail it because of not totally fully consume in terms of good economy. that's why they don't allow to their constituents to use crypto currency I think they need the help of some other big country.
They want us to pay our tax maybe other country didn't have a law about paying cryptocurrencies tax and maybe they think that they can't control the population of btc holders when they allow cryptocurrencies in their country.
Because of evasion of tax. If the money that enters the country don't pay the tax needed, then it may cost the country's fund. Imagine going to school and always paying for the funds, but this time you cannot pay because you are using credit card or debit card. Like, cryptocurrency, you cannot easily use it unless you withdraw it or invest it. Some countries aren't modernized for the interaction of cryptocurrency.
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