Why lot of countries do not allow to use Crpto? - page 22.

binhvo1505

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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?

These are the small benefits that Bitcoin brings to them. But the negative effects that bitcoin brings are many. Businesses can take advantage of this to avoid tax and money laundering very easily. Besides, Bitcoin is a high value currency but easy to manipulate. The government prohibits it in some countries is a right decision.

roomboy85

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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?

I think some country not allow to use crypto currency because they not controlled how much transaction happen and they cant get tax on it because its virtual currency. Also they afraid maybe some corrupt people use crypto to hide the money that they thief.

Masongrae

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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?

I believe they don’t allow crypto because they don’t really know crypto. They don’t see how crypto could eventually help them in their economy. If they are able to see the great opportunities in crypto, they will grab it.

Rockernewf

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This complicated problem, for hundreads of years
country roles was to emit and control money/currency and violence using monopoly.
Today if they see someone is trying to make money that they can't control this they're scared about that.
Country's currency it's symbol of it's power above it's habbitants.
In this case they try to eliminate competitor cryptocurrenices

brkttlv

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They don't want people to use crypto currencies because that means depreciation of their national fiat money and also loose chance to get taxes. Summary they don't want to loose control of the economy.

jaocoincrypto18

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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?

There is no problem regarding financial aspects because they knew that Crypto currencies can be able to help their economy as they also notice the other nations who currently enjoying the benefits of having it legal. These few countries who are against crypto currencies are just to blind to see the positive aspects of Bitcoin in which they only foresee the negative aspects of it like the use of Crypto might ruin their country and might put the welfare of their people to risk.

Sonamziv_99

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You are not amiss with your math but rather its about the security and washing stuff that may come in advance. The vast majority of the nations are worried about the possibility that that immense measure of cash may be washed with the assistance of bitcoin and in this manner it might make the unsettling influence monetary dissemination in that way. It has as of late found that numerous instances of mafia has been discovered who are really utilizing the bitcoin along these lines as it were. This is the greatest and prime motivation behind why nations are attempting to maintain a strategic distance from the undesirable utilize. They likewise need to secure the people groups finances by taking strategies, crypto counterfeit exchangers and plans and so forth.

burnchan

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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?

The reasons why other countries do not accept crypto is the issue of money laundering and the use of crypto to illegal activities. In my point of view, these stuffs also exist in fiat, so I think there has to be done aside from restricting the use of crypto.

satana_igor666

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Because they are afraid of losing their palm and can not influence the country, if there is bitcoin.

Efiraboy

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Quote from: hacekd on July 26, 2018, 09:54:46 AM

Quote from: sheenshane on July 02, 2018, 01:01:51 PM

Quote from: newinbtc on July 02, 2018, 12:38:40 PM

the value of that currency already decreasing due to lot of international trading , after crypto come , people investing that country in bitcoin and save that money thus their funds decreasing . In India they banning crypto for reason - Decrease of rupee price , lots of scam happens , People us bitcoin as illegal trading . if people use bitcoins , its direct loss of government as they are not getting any tax on bitcoin transfers

Why US bans crypto ?
South Korea also banned

Different country has a different perception in bitcoin, I guess that was mostly government thinking of that people may be used bitcoin to have an illegal transaction and easy to make any action against the law of the country. 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.
Yes, it has a big effect on the local currency, because our local currency is manipulated by our government they know how much the demand and also the value of the foreign exchange.

many of the reasons they say why they are banning bitcoin circulating in their country, there are reasonable reasons for cryptocurrency fraud or can be used for crime and high risk for investors, but the main reason is the fear of these countries will be the volatility and uncertainty of digital currency.

Why would they leave there home when they can be paid more than salary Every government need tax to improve the development of their country and for this people have to use fiat which they stop using it

malah

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I think every country has its own policies and regulations about the currency and they already have the official currency in their country so that they will not allow the currency of the crypto to replace the official currency and the currency of the crypto have a big risk so it can be dangerous for community

Chrisjay29

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no other reason why crypto didnt allowed by there country. it because they scared to be scam. Lot of news about scammingg in crypto. thats its really hard to convience people right now

dnovsckym

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States also need a profit from this. And since the crypto currency is very difficult to track, they do not know how to make a profit from it!

Saldom12

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Probably because this crypto is growing rapidly and can threaten countries that do not accept cryptocurrency. And also crypto may be able to replace the country's currency, so maybe that's the reason why many countries do not accept cryptocurrency.

CryptoGamblingSites

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When currencies like the rupee are inflated and buying bitcoin in India is increasing, it doesn't take a genius to understand the amount of politics involved with "stopping" bitcoin from lowing the rupee even more.

The problem for the government and banks in India is that the corruption has gone on for decades and won't stop without something like bitcoin becoming currency.

k1ng0fBTC

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Quote from: Lady Coquet on July 26, 2018, 09:41:11 AM

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?

In my own personal opinion, people do not allow cryptocurrency because they think it would ruined or destroy the economy of their country and they are afraid that cryptocurrency could replace fiat currency and banking. But there are still countries who already accepts cryptocurrency in their country and there are no any bad effects to the economy of what so ever.

Because people involve with crypto currencies more than fiat and their jobs .People almost stop using fiat money also they prefer trading, mining, and gambling and on the top the stopped using working on offices.

Jrfranco

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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?

Unable to charge tax on every transaction,that would be the obvious reason why most of the governments does not support crypto currencies. The Transparency of every transaction makes it even more complicated.

@hosimanaka

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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. So the government will not be able to control it.

Streamlink

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Quote from: Dimon8 on July 20, 2018, 03:28:13 AM

It is obvious that the governments of many countries of the world do not allow the use of cryptography afterwards so that they can not control the flow of money. The flow of money that passes through crypto does not pass through banks that are controlled by the government. Demand and use of the national currency also falls.

Well they have to see that where the profit is so they will not feel fear and they can benefit their economy with the Bitcoin and other cryptocurrencies too. Governments can stop printing more paper currency so that they will save that budget which they use on manufacturing of paper currency so Bitcoin will save that wastage of money for them, now what else they want if the Bitcoin is benefiting them and their people.

Dread Pirate Roberts

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Many think crypto too has a big risk of price differences that are considered very volatile. and most anonymous transactions in government eyes are suspicious transactions and allow illegal transactions with crypto. I think it's a natural thing if a country still thinks it. because it is essentially crypto anonymous and free to use for anything .

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