Topic: Why lot of countries do not allow to use Crpto? - page 31. (Read 4286 times)
Because this place is potentially risky, it could cause the country to collapse, perhaps an easy coin to finance the terrorists, money launderers easier in this area.
The reports where more than billions of dollars have been lost to failed ICOs and scams is enough to threaten a country and make them quickly decide to prohibit their citizens from investing in crypto. Maybe they just need the dust to settle first so they can invest sooner.
There are a lot of countries do not allow to use crypto, because the government do not want to be blame by people in their state for scams that might be happenning in cryptos, the government might accept the cryptos in the near future, but they will have the agreement with the crypto management, the government wants to regulate the cryptos ,so that the transactions of cryptos will be transparent.
Because people tend to fear the unknown and ignorance causes people to be terrified. In this case our government fears accepting bitcoin or crypto currencies as payment or an investment opportunity because they think it will disrupt their economy and destroy their own fiat currency. That's is why most countries ban 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?
What do you think about that?
Usually small country doesn't allow to use crypto currency because they will make their country strong and become economic stability for the people because crypto currency are able to use used even in individual person. their government doesn/t approved them specially they are starting to grow up.
The reason why lot of countries do not allow to use Bitcoin and other decentralised cryptocurrencies because it will allow people to trade directly with each other, cutting out the need for a middleman which, in traditional commerce, is a bank.
Banks generally charge fees for doing anything with money, even just holding on to it. That's because the banks have created a level of trust that transactions pass smoothly and everything is recorded and accounted for correctly.
Banks generally charge fees for doing anything with money, even just holding on to it. That's because the banks have created a level of trust that transactions pass smoothly and everything is recorded and accounted for correctly.
If you look at it, it may be possible but it takes a long time to implement such a thing. the government is still seeing the development of crypto this year whether the enthusiasts increase each year or decrease. if more and more crypto enthusiasts then the government in each country will implement the system of trade between countries using crypto.
You are mistaken the faster and the biggest the market of cryptocurrencies gets the more afraid they are going to be of the survival of their own currencies, they are scared right now even if bitcoin is still very small, what do you think they are going to think when bitcoin is used by hundreds of millions of people and we begin to use bitcoin directly instead of exchanging for fiat first?
mostly countries like Nepal and Bangladesh and Pakistan are completely negative against cryptocurrencies
If you look at it, it may be possible but it takes a long time to implement such a thing. the government is still seeing the development of crypto this year whether the enthusiasts increase each year or decrease. if more and more crypto enthusiasts then the government in each country will implement the system of trade between countries using crypto.
You are mistaken the faster and the biggest the market of cryptocurrencies gets the more afraid they are going to be of the survival of their own currencies, they are scared right now even if bitcoin is still very small, what do you think they are going to think when bitcoin is used by hundreds of millions of people and we begin to use bitcoin directly instead of exchanging for fiat first?
There are issues that needs to considered, government think crypto currency could harm their citizen because it has no protection due to its ecosystem is decentralization. No one to blame if anything happen to the peoples money. Further, they could not implement tax to the holder because its purely decentralized and they don't have control over it.
The taxes can be put within a month but the real problem may be that they can not decide whether the usage is good or bad and regulations are uncertain from many countries due that it is a new thing.
In my perception, a lot countries still not using crypto because they're low technology not like japan which they totally use bitcoin technology as an alternative way mode of payment. And maybe several countries afraid to used It because some Illegal way that Is easy to get In like money laundering and others.
There are many reasons for this. The government's fear of losing the management of financial flows, the uncertainty of the vector of the development of the crypto market. We must not forget that the market is very young and many people treat it with disposition
Most of countries government afraid of crypto because crypto is decentralized and you cant tract the amount,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.
Governments are afraid of losing the control over financial flows in their countries. Judge for yourself: anonymity, decentralization and free emission. It sounds like a nightmare for the head of any bank or government.
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?
Most likely because crypto is still not regulated and there are some questions to the industry as well.
Crypto can't be ignored or buried - a Big win for the whole industry, thats what really matters here i think.
As soon as governments will come up with proper regulation options for cryptocurrency there will be a "green light" for crypto in many fast developing countries.
If you look at it, it may be possible but it takes a long time to implement such a thing. the government is still seeing the development of crypto this year whether the enthusiasts increase each year or decrease. if more and more crypto enthusiasts then the government in each country will implement the system of trade between countries using crypto.
You are mistaken the faster and the biggest the market of cryptocurrencies gets the more afraid they are going to be of the survival of their own currencies, they are scared right now even if bitcoin is still very small, what do you think they are going to think when bitcoin is used by hundreds of millions of people and we begin to use bitcoin directly instead of exchanging for fiat first?
the answer is very simple, because nobody can control the bitcoin then they reject it.
but I'm sure one day they'll realize how bitcoin can help the economy. although it has not reached the country level yet.
but one day it will happen. it's just a matter of time.
but I'm sure one day they'll realize how bitcoin can help the economy. although it has not reached the country level yet.
but one day it will happen. it's just a matter of time.
I think the reason is that crypto is a very new market for the world. It is very difficult to control it. When they can not control it. They will not be able to collect taxes from it. So their best way is to forbid it
Its because that since BTC is decentralized which means the Government does not have control to it, it means that people can take advantage to it, some countries are aware about its power but does not dare to comply with it because they know that it is decentralized, especially Bitcoin.
Yeah, Bitcoin is a product that seems to be created to prevent the management and control of the government, we can see very clearly the features that bitcoin can bring, anonymously, without the approval of any authorities, very high security. And that is too convenient for transactions between underground powers, money laundering openly through crypto, they do not allow use, the situation has been so, if they allow use, things are going to get worse and lose control. However, I believe that one day the government can control the bitcoin and they can use bitcoin to better manage the economy of the country. Jump to: