Topic: Why lot of countries do not allow to use Crpto? - page 13. (Read 4286 times)
We can buy and sell crypto on market and get money back to the bank. Government is find the way to control crypto, they already know how potential it is and its application.
Lot of countries do not allow to use cryptos because they were afraid on the negative effects on it like cryptos maybe use in funding syndicate, these cryptos will become bank competitors and the government have not yet study where they will get taxes out of cryptos.
In my opinion, instead of being taxed from a bank, they can tax crytles. Earn income from crytal taxation and bring the economy to a new height. This is completely reasonable and can be drunk in the future
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.
This concern of regulators is born out of plans by mainstream markets to offer trading in the currency's future.
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?
Your thinking is aligned with a tax-free economy and competitive. Exchange in all markets is always accompanied by taxes. Taxation is the source of government revenue, if bypass the government tax will not be able to survive What do you think about that?
There are many reasons behind this.But government knows well.May be government think that the economic problems will be faced for it and money will be reserved.People are going to make loss in their investment.For those reasons,a lot of counties don't allow to use crypto probably
Because the government is scared! Fear cannot control the digital financial system because decentralized P2P systems make transactions untraceable if there are no reports. The government wants the financial system monitored to prevent financial crime, besides that the government must also get taxes to run its government and for infrastructure development. Without tax, a country goes bankrupt. 
There are few countries that have banned the usage of bitcoin. The list is actually very short and those countries are actually very under developed and filled with corruptions. I guess you got misunderstood the sentence "not a legal currency" and took it for being banned. Most countries do not recognize bitcoin as a legal tender or currency. This does not mean that they called out bitcoin as illegal and banned its usage. You can still use it as you like.
Countries fear that cryptocurrency might affect the growth of their own economy as well the usage of their own country currency. Countries which has undergone a series of research as well study will have known better about the evolution and the true need of it. Looking upon those countries can expect more countries to support cryptocurrency in the coming years.
There are several reasons why the country do not allow to use Crypto:
+ Firstly, the crypto now is hard to handle so the government can't monitor all of transaction under cryptocurrencies.
+Secondly, Its price is not stable , there a lot of speculation in the market.
+ Thirdly, the crypto currencies affect directly to the banks system. The investor tend to invest to money in this market than the banks because its profit is larger.
yes many government scared about banking system and that;s why they didn't accept this currency and secondly they thought that scammers can easily get benefit so they are want to any terrorism in their country but if they think that this currency can change a person's life and remove all of problems from their life which was not possible in job so i think they will want to accept crypto because this currency can improve the economy of every country and their country's people can start physical business and that's why poor people will join jobs, so i think banks will not affect by it. + Firstly, the crypto now is hard to handle so the government can't monitor all of transaction under cryptocurrencies.
+Secondly, Its price is not stable , there a lot of speculation in the market.
+ Thirdly, the crypto currencies affect directly to the banks system. The investor tend to invest to money in this market than the banks because its profit is larger.
There are several reasons why the country do not allow to use Crypto:
+ Firstly, the crypto now is hard to handle so the government can't monitor all of transaction under cryptocurrencies.
+Secondly, Its price is not stable , there a lot of speculation in the market.
+ Thirdly, the crypto currencies affect directly to the banks system. The investor tend to invest to money in this market than the banks because its profit is larger.
+ Firstly, the crypto now is hard to handle so the government can't monitor all of transaction under cryptocurrencies.
+Secondly, Its price is not stable , there a lot of speculation in the market.
+ Thirdly, the crypto currencies affect directly to the banks system. The investor tend to invest to money in this market than the banks because its profit is larger.
Probably one of the reasons can be that they are just not understanding the process of accepting cryptocurrencies, and they are not familiar with the positive aspects that they have, imho.
because they are afraid that cryptocurrency will thrive and cannot be controlled and will threaten their bank system because people would rather invest their money in crypto than at a bank. and they refused crypto because they could not collect taxes from Crypto. whereas a country always requires income from taxes to be able to run the government. and the government does not like something that cannot be controlled.
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?
not in country but i can say that they goverment didnt want cryptocurrency and maybe because of the manipulation and goverments scared about that because theres a lot of people like newbies will going to loss money if they didnt know all about crypto and the big risk in here.What do you think about that?
There are many reasons behind this.But government knows well.May be government think that the economic problems will be faced for it and money will be reserved.People are going to make loss in their investment.For those reasons,a lot of counties don't allow to use crypto probably
Because they still think bitcoin is easy for illegal business, while the government has not found a way to close that weakness. The main difficulty of bitcoin is anonymity and transactions are peer to peer. So bitcoin prices are not stable, so the government needs to protect its people from losses. However, in some countries the ban on bitcoin is only as a means of payment, to be collected or commodities cannot be banned because everything is online.
Many countries were now using bitcoin, but also many countries dont allow to use it bitcoin. Perhaps those countries were bitcoin is not yet introduce to that place or still afraid of having bitcoin due to price not stable.
Each country wants additional taxes. How will they get them with cryptocurrencies? And probably cryptocurrencies have not "amazing" background
I can say that there are still a lot of countries is not accepting crypto because they are not trusting cryptocurrency or they dont want cryptocurrency to be part of the future of this world or maybe some countries doesnt know the real benefits they can get with crypto.
There are many reasons behind this.But government knows well.May be government think that the economic problems will be faced for it and money will be reserved.People are going to make loss in their investment.For those reasons,a lot of counties don't allow to use crypto probably
I think most countries banned Bitcoin because they have low technology. They will not be able to manage Bitcoin in commercial transactions, especially in tax matters. Or maybe they are not sure about cryptocurrency, because they see Bitcoin is not really stable.
Well for me, I think other countries banned crypto is because of those scammers. If they allowed crypto to their country there is a possibility that many people on their country will also victim of scam.
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?
the problem is taxes, if every transaction and exchange from digital money to national currency is not taxed, it will hurt the government. Moreover, this happens in large numbers, of course it will greatly affect the circulation of national currency. Actually I would strongly agree if every transaction is taxed if it makes the country accept the crypto, but surely will have many obstacles.What do you think about that?
It is because the governments had not prepared for the background of it. If they can prepare for a new law and new agencies just for bitcoin and crypto than they can actually make money from bitcoin and crypto from taxes.
However, since they are not prepared for it right now for most of the countries bitcoin is just something people make money and not pay the government their share of the income as taxes. Governments will allow it all around the world one day but before that they need to get ready for it.
It's mainly because transfers in a currency other than the national currency means bad economic performance, including GDP. It also can't be regulated, giving governments much less control over the people ( less power.)
I think most countries banned Bitcoin because they have low technology. They will not be able to manage Bitcoin in commercial transactions, especially in tax matters. Or maybe they are not sure about cryptocurrency, because they see Bitcoin is not really stable.
Well for me, I think other countries banned crypto is because of those scammers. If they allowed crypto to their country there is a possibility that many people on their country will also victim of scam.
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