The reason for lot of countries doesn't allow Crpto is to get some tax from their people.Same thing is happened in South Korea,at first South Korean government ban bitcoin in their country.In a short time period ,they announced bitcoin is legal one in South Korea and the bitcoin investors have to pay some tax to the government.
I agree that opinion, we all know that cryptocurrencis is still not allowed in other countries simply of the tax and we all know using cryptocurrencies is tax free. I think the reason also is they think it is a scam even though it is not scam. However, I hope in the next few years all countries will allowed and accept bitcoin.
Topic: Why lot of countries do not allow to use Crpto? - page 26. (Read 4286 times)
I am sure the state must have a reason why the government forbids the use of crypto. Not just taxes itself, there may be some things that the state fears. They are: crypto can be hacked, used for crime, the risk is very high for investors, and no one is responsible if there is fraud.
Perhaps the most fundamental reason is the fear of the country regarding volatility and uncertainty of the crypto currency.
The bank also feels excluded due to transactions without going through the bank, so that it can disrupt the country's income and economy.
Perhaps the most fundamental reason is the fear of the country regarding volatility and uncertainty of the crypto currency.
The bank also feels excluded due to transactions without going through the bank, so that it can disrupt the country's income and economy.
To me, I don't really blame those countries who have decided not to accept crypto, but rather the greedy elements who are already into Cryptos. Some who joined it very early, have profited already from Cryptos, and now fronting so many fraudulent projects and scam ICOs to defraud the unsuspecting new comers.
Actually many government yet dont know well about crypto still now. So how they allow it. On the other hand some government fill that if they open it they could not control it as a result corruption will work into financial market. Some government think that it will be out of tax and people will use it in black market as a result violation will arise into society. As it is fully new to financial market so all government can not understand actually what will be right or wrong. I think thats why lot of countries do not allow to use crypto. 
I think every country has their own reason. As for my country, because they don't think crypto is trustable enough to be used as a payment system or exchange.
Moreover, too many scams happened in this cyptoworld and other negativity like being used by criminal, illegal and other that make them choose not to allow any crypto, especially bitcoin transaction.
That's because they don't want to take any responsibility of anything happened, and think that it's better to use our own national currency. So they banned it. I don't know what's going on in other country though.
Moreover, too many scams happened in this cyptoworld and other negativity like being used by criminal, illegal and other that make them choose not to allow any crypto, especially bitcoin transaction.
That's because they don't want to take any responsibility of anything happened, and think that it's better to use our own national currency. So they banned it. I don't know what's going on in other country though.
The reason for lot of countries doesn't allow Crpto is to get some tax from their people.Same thing is happened in South Korea,at first South Korean government ban bitcoin in their country.In a short time period ,they announced bitcoin is legal one in South Korea and the bitcoin investors have to pay some tax to the government.
I agree that opinion, we all know that cryptocurrencis is still not allowed in other countries simply of the tax and we all know using cryptocurrencies is tax free. I think the reason also is they think it is a scam even though it is not scam. However, I hope in the next few years all countries will allowed and accept bitcoin.
Alot of countries do not allow to use of crpto currencies due to main reasons according to their fiscal policies and other economic reasons.this happens in order to preserve their economy from other economics hardships.also most of the countries do not allow the use of crpto because when crpto is allowed in their countries they thinks it may affect alot of banking activities which may collapse the banking sector and leads to economy hardship
Many countries do not like crypto for fear that crypto is used for illegal transactions, some features that support illegal transactions are anonymous features so that anyone cannot track bitcoin users.
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
I think it is not a big deal because when they will see other countries experience with cryptocurrencies and when they will see that they are having a positive conclusions they can always change their mind.Why US bans crypto ?
South Korea also banned
The main reason for a country that does not accept Bitcoin and Cryptocurrency is, because Cryptocurrency is decentralized, or cannot be controlled, cannot be regulated by a country. that makes the state afraid, so it doesn't use Cryptocurrency, because they feel that if citizens use Crypto, the state or the government will not be able to control it.
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
I think it is not a big deal because when they will see other countries experience with cryptocurrencies and when they will see that they are having a positive conclusions they can always change their mind.Why US bans crypto ?
South Korea also banned
For me i will say that it is because they government is scared of the B T C currency wen it goes up ,because it will affect their economy
Lots of countries do not allow to use cryptos because the government have not been authorized by bitcoin to regulate the crypto currency activities in the country ,so the government will not declare acceptance of bitcoin in the country.
it will affect and go down their economy when the BTC currency will increase
i think some countries have difficult economics system and using crypto not easy for them. And some politics not yet trust crypto fully.
some countries that forbid bitcoin to flourish in the country are classically justified as not being taxable, afraid of affecting or harming the state economy, or fearing bitcoin to be used as a tool for criminal financing and money laundering, they do not see the good side that would arise if bitcoin is allowed to grow in the 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?
People are always afraid of something new so probably the reason is that people are not enough educated and understandable to the Bitcoin terms, and they think that it would be harmful for their economy country system. What do you think about that?
Crypto currency can change their use of fiat which can effect there economy.
In order to develop countries government need money which we give them when paying taxes. Many Countries are afraid people can stop using fiat and move to crypto currency which are unable to control people won't pay taxes it can destroy their economy that's why they're afraid
In order to develop countries government need money which we give them when paying taxes. Many Countries are afraid people can stop using fiat and move to crypto currency which are unable to control people won't pay taxes it can destroy their economy that's why they're afraid
at this time there are still many countries that do not allow to use crypto currency. those who use crypto currencies only in countries that have inaugurated bitcoin. the state prohibits using crypto currencies because they think crypto currencies are scams and have unstable prices, so they are afraid of getting losses when market prices decline.
because it is of high risk and maybe out of control for a country.
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