Cryptocurrency is a very new market, every country has different views on it. Some governments fear that they will be difficult to control the negative effects that cryptocurrency brings. Of course, trading with crypto will not harm the economy of the country but through such transactions, some criminals can carry out money laundering and illegal financial activities. However, this is only a minor issue, I think countries should take measures to control that situation and help the market grow
Topic: Why lot of countries do not allow to use Crpto? - page 32. (Read 4286 times)
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?
Government in my country allowing cryptocurrency trade but not for payment. What you describe seem simple but its hard to do because many exchanger dont have any identity document their customer.
If government regulating cryptocurrency market, its more easier for government to collect taxes from crypto trade, but sometimes peoples using overseas exchanger
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?
If government implementing their service on blockchain and regulate cryptocurrency, I am believe government can earn more taxes. Government right now ban cryptocurrency because they dont understand the advantages of cryptocurrency and blockchain technology,
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?
If government implementing their service on blockchain and regulate cryptocurrency, I am believe government can earn more taxes. Government right now ban cryptocurrency because they dont understand the advantages of cryptocurrency and blockchain technology,
maybe it's because bitcoins or other cryptocurrencies have an unstable price that makes the sellers and some countries afraid to use bitcoin as one of the payments.
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.
because the government does not legalize crypto, so they do not use it. the government reasoned that crypto could potentially be used as an illegal transaction, because of its anonymous nature and not through the bank.
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?
How come that it is not harmful for an economy? As of now you can see that cryptocurrency helps people to earn online but as the time goes on, more and more people prioritizes to earn crypto than to earn flat and there are several reasons why it will harm the economy. First is that government would collect lower taxes that would result to poorer services. Second is that the foreign value of that currency goes down because no one wants it anyway.
The government only forbids the use of crypto like the fiat used in real life. for example you buy food using crypto. all countries already have rules only use the currency issued by their respective countries.
It is right that the use of local currency increases the value of its currency. The coin circulation continues and the economy of a country grows high and high. While cryptocurrency is decentralized and the government does not want that their people invest in crypto because by this way the money can be transferred easily from one place to other.
Yaa it's true, the use of crypto as a transaction is not taxed, because it is not the government that governs the circulation of crypto, they have no control.
This is what will make the national currency fall if the use of crypto can not be controlled, other than that crypto also has no authority and anyone can use it, this raises the perception that cryptocurrency can be used in the world of crime such as money laundering and financing terrorism
This is what will make the national currency fall if the use of crypto can not be controlled, other than that crypto also has no authority and anyone can use it, this raises the perception that cryptocurrency can be used in the world of crime such as money laundering and financing terrorism
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?
In my opinion, most countries that still prohibit the use of crypto currency are several factors. The first is usually the country is not ready to accept and do not have technology that can support in the supervision of currency circulation. Second, because the state financial management system is still vulnerable to money laundering. Thirdly because the country's online sales system has not been so in need of cripto currency. but does not apply to developed countries like Japan, America, and other developed countries because the developed country system has supported everything.
A lot of countries are being skeptical to use cryptocurrency because they know that using cryptocurrency is not a good idea since it is volatile and there are some cases that the hackers hack the system and they try to get a lot of cryptocurrency which is valued by a lot of money and that is why they are being afraid to get into cryptocurrency.
Some countries believe that cryptocurrencies and bitcoins pose a threat to their economy! Moreover, the supervision of cryptocurrency is still not perfect, and the supervision of cryptocurrencies in all countries of the world is at the stage of exploration!
There are still many countries and regions that do not ban or recognize cryptocurrencies!
With the development of blockchain technology, many countries will support cryptocurrencies in the future!
There are still many countries and regions that do not ban or recognize cryptocurrencies!
With the development of blockchain technology, many countries will support cryptocurrencies in the future!
I think some country banned crypto because they can't get the tax.
crypto have a lot of dark side that is why some country need to study because it will cost a lot damage in the world economy.
Every market has two positive and negative sides so try to look at the negative side to evaluate a project or a job that can grow with it. Many countries still do not accept cryptocurrency because they do not really understand the value that it can change the way people use the currency and pay now. I believe cryptocurrency will be the future of world currency. crypto have a lot of dark side that is why some country need to study because it will cost a lot damage in the world economy.
No other reason its because bitcoin got lot of news about scamming and hacking site where your saving is on there. Thatd why if these people wont sto. No more crypto in there future
They are thinking Bitcoin is related to terrorism and criminal stuff like drugs and such. That's why most of the countries are banning Crypto because it could make these countries become unstable and they afraid people in their countries are using it for against the law. Also, Crypto is the biggest enemy for the conventional bank.
There are a lit of countries that do not the use if crypto in their country, because the government wants to regulate bitcoin or cryptos if they will use in the state or make the cryptos legit, they will probably want take in supervision over this cryptos , so that it will one of the legal currency to be use also in the country, so the cryptos will have to come to terms with the government,for it to become legit.
I think some country banned crypto because they can't get the tax.
crypto have a lot of dark side that is why some country need to study because it will cost a lot damage in the world economy.
crypto have a lot of dark side that is why some country need to study because it will cost a lot damage in the world economy.
Using cryptocurrencies has its dark side. Just a couple of days ago, police in South Korea raided the offices of two of the country’s largest cryptocurrency exchanges on suspicions of tax evasion.
They are probably afraid that this terrible "pyramid" will destroy their economy: D I think that in the future the state will not be able without a crypto currency
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