Topic: Why lot of countries do not allow to use Crpto? - page 17. (Read 4308 times)
Probably the real value of these cryptocurrency types is not widespread, some countries are still underdeveloped, the government does not really see the potential that Bitcoin offers. In slow-moving states, the government is concerned about the use of Bitcoin in illegal activities.
Most countries are worried that encrypting money will damage the rights of Fiat, although the use of bitcoin is increasing, but it does not benefit the government. I think some countries will soon begin to levy taxes on the special currency transactions.
Hey buddy . Try to read this one https://bitcointalksearch.org/topic/m.23037076
Here you will see the link to the list of countries that are accepting bitcoin.
I think the only reason why many countries are still not supporting bitcoin is because of the lack of understanding but this will sure change soon.
Here you will see the link to the list of countries that are accepting bitcoin.
I think the only reason why many countries are still not supporting bitcoin is because of the lack of understanding but this will sure change soon.
My country is not forbid totally, they don't accept currency as a current money but they don't support. 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
So government have threat that illegal transaction and activities will be increased by crypto and government unable to control the crypto. But government should think and consider positive side of crypto and consider the contribution of crypto in economy of the state.
bitcoin is banned in some countries because the government cannot control it, the government is too afraid if bitcoin has a bad impact on the economy and stability in its country. Another reason is that the government cannot apply taxes on bitcoin so there is no income for its government.
A large part of the public sector comes from the tax. So is the government has the most attention to taking tax .Not only tax, the governments of these countries banned Bitcoin to prevent various illegal activities.
But it does not seem to be the best initiative for me. Because the government of these countries could not prevent immoral activities even after all this.
But it does not seem to be the best initiative for me. Because the government of these countries could not prevent immoral activities even after all this.
they are not ready to make regulations to regulate transactions using crypto currencies, what they fear is that their country's currency will experience a decline in the exchange rate and will be replaced by crypto currencies which in the end the country will experience a financial crisis
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?
Maybe they do not know what is gonna happen if they will permits the bitcoins on their country they are thinking that it can be a source for their people to go against them so there are a lot of reasons of course amd it can be maybe that they just do not want to used any cryptocurrency in their country because they are not a fan of a new technology involving currencies because for them it is much better to stick with the old ones.
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.
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?
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?
I think that many countries are just trying to avoid the instability and volatility cryptocurrencies have. They don't want to subject their citizens against investments that could crumble and go down the drain anytime. The difficulty of handling the market that has so many uncertainties are just too much to handle for many people. And so, to protect their people, countries try to either control cryptocurrency-related activities or totally ban them. You can't blame them because it's just a matter of safeguarding their people, which is within the ambit of power of a government.
I think that's probably because cryptocurrency currencies are so unstable and fluctuating so cryptocurrency has a very high risk that very few accept cryptocurrency.
Well you can say these countries aren’t using these crypto just because of their volatility. Then this is right. Many countries don’t apply this coin as national one because e this might be letting destruction coming into the field so soon. Things aren’t that much good when this coin is taken on national level. To go to such level, development is required and this coin must be made so strong.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?
Some people are saying that the reason why they are not allowing their citizens to make use of Bitcoin is because they are not able to charge tax and when a country’s government is unable to charge from things like this, they shouldn’t be allowed in that country.What do you think about that?
One of my friends hates Bitcoin and he doesn’t really like the fact that the government is permitting people to make use of it, because he believes that Bitcoin is a fraud.
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?
actually it's not a reason. almost all countries do not allow crypto to transact in a country. all countries are not afraid of crypto but are afraid of misuses such as terrorist financing, money laundering and in use for drug transactions. but almost every country recognizes if crypto / bitcoin is a digital asset to invest What do you think about that?
lot of countries dont nt allow to use crypto is they are afraid of money laundering and other fears of bitcoin and other cryptocurrencies but in order to grow with development they should also adopt for bitcoin
Because they believe bitcoin and crypto currency can destroy there economy. People are not willing to pay tax so they'll move to bitcoin to prevent extra taxes. 
Bitcoin is the world recognized crypto in the global system it is easy to handle and transaction is operated with low fees and fast since there is no intermediaries these all leads the popularity of Bitcoin. Even though it has become so popular many countries are not aware of this modern technology . Since Bitcoin is a decentralized one not governed by any central authority the government fear about these currency that it will effect the economy since these Bitcoins are volatile and the price may change within short span .
The government in most countries do not want the transactions in cryptocurrencies. They stress on the fact that there is no fund generation in these transactions and hence prefer not to allow any crypto in these countries.
You are right mate, the government preventing cryptocurrency in their country because of it's a risk and they don't know what it is.
The government in most countries do not want the transactions in cryptocurrencies. They stress on the fact that there is no fund generation in these transactions and hence prefer not to allow any crypto in these countries.
because cryptocurrency cannot replace fiat money. that's why transactions must be converted into fiat currency. because fiat has legitimate and legal laws.
but if you see some news now the government is starting to look at bitcoin for transactions. because they see the advantages of blockchain technology
but if you see some news now the government is starting to look at bitcoin for transactions. because they see the advantages of blockchain technology
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