Topic: Why lot of countries do not allow to use Crpto? - page 3. (Read 4286 times)
across the market are plunging because users all around the world fear that trading cryptocurrencies could be banned. The last country that announced a possible ban is South Korea. Officials stated that trading cryptocurrencies could be banned entirely, or at the very least it would be regulated.This fall affects all cryptocurrencies, not only Bitcoin, which, as the best performing cryptocurrency, has dropped by more than 15%.South Korea isn’t the first country to ban cryptocurrencies. Last year, countries as Vietnam, China, Bolivia, Ecuador, Kyrgyzstan, Saudi Arabia, Bangladesh and North Korea did the same.
I think what some of the dislike is that they are not in control of crypto currency and therefore would not like to support that. Government also want people to remain poor so that they remain relevant after they leave office. So anything good that is coming to their people without passing through them would not be supported.
Because people put their money on cryptocurrency which is decentralized instead of investing in business establishments and if people may gain big at crypto their not obliged to pay tax, and the country needs tax to develop.
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.
Different government have different opinions about cryptocurrency agenda. Many government not satisfied cryptocurrency presence in their country and ban it in their country. The main reason behind this its cryptocurrency decentralised nature. Because of this nature it does not under control of any government rules and regulations and bitcoin also affect an country national currency and affects national banks profit and progress too. And these two above thing ultimately affects their country economy growth. 
Because no countries want to bury by themselves,all the countries were running by the taxes from the citizen if the crypto currency becomes their national currency there is no need that they have to convert them into cash they will start using bitcoins and most of them will never pay taxes since it is hard to getting traced.
they do not have enough regulation for cryptography. Governments can not control. it seems to be unregistered money. these and similar situations are not working for governments. wants to get tax. but there is no legal regulation for it. if the necessary legislative arrangements are made, it may cause other problems. the demand for the informal currency increases.
Many countries seen cryptocurrency as a threat in their current economy. Maybe this is due to many issues cryptocurrency suffering. Many has already become a victim of the scams and huge hacking issues.
There are two big groups of reasons – one group of reasons is officially stated by almost every aforementioned country: cryptocurrencies are banned because of security issues. The other group of reasons are usually not stated officially but is largely implied. It is directly associated with cryptocurrencies being decentralized: cryptocurrencies allow people to trade directly with each other (peer to peer), cutting out the need for a middleman, which traditionally is a bank.
A country's currency is the measure of authority. It is the instrument of control of the economy of the state. A loss of this control is a loss of grip on the governance of such a state. It is not just because of tax that the countries do not allow crypto buy the entire loss of economic control.
the government does not allow the use of crypto because the government cannot control the use of it and the government is worried if crypto is used for crime so that it will harm the country
For me the reason of some countries that are not accepting crypto is because they dont know that crypto can be used as our currency in the future of this world. And maybe a lot of countrues are not supporting crypto because the price of all cryptos is not stable, it can pump very high but it can also dump.
use of bitcoin as part of its anti-money laundering efforts. ... Not all countries think banning cryptocurrencies is a way to go.
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.
This is true. Government is the competitor of the cryptocurrency. Government really wanted everything that this will be in there control. They wishes to be the dictator or the controller. That is why they do not want cryptocurrency because they donnot have the rights to do it. This is a unique system that will help us.
Majority of the countries have now started accepting bitcoins.
Their governments have not yet made it legal but yet there are a lot of traders amongst each country now which shows us the immense growth of bitcoins.
Their governments have not yet made it legal but yet there are a lot of traders amongst each country now which shows us the immense growth of bitcoins.
Most countries in the world are still considering the legality of Bitcoin. Governments are still in the process of exploring other aspects as well as the influence of the Crypto market on the economic sectors in general.
This is not a bad thing. In some countries, the cultural level of the people varies greatly, which may be to protect their citizens. But I believe that sooner or later they will open the cryptocurrency.
it takes time to get there. it's not easy for a system to accept new things. currently blockchain has begun to be accepted and applied by many countries. Likewise with crypto, in the future I am sure the world will accept and many countries will use it as one of the means of payment or may become a commodity.
I think the governments do not want to be responsible for the risks associated with Crypto. Like other currencies, Cryptocurrency as well as gold or cash, are used as intermediaries for money laundering.
The Government have not have legal corridor and management mechanism yet for allow using cryptocurrencies. If they allow it, they get nothing from it, no tax, no income from Crypto. And its so risk when allow it early while they're not ready yet. And, in my country, people use QR or code pay for buy and sell things is serious problem for Government. And, some banks were decided to reject transaction for cryptocurrency. That was a bad news
If there is no central management agency, who is responsible for the fraud? This is a pretty serious problem as everything can go wrong even with crypto investors.
From fear, ignorance, to protectionism, conservative governments tend to eliminate and avoid the risks associated with Bitcoin. The first government privilege is to ban all new technologies that have the potential to influence their dominance.
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