I think countries will not allow to use crypto because the organizer of this bitcoin luck of trusted.If the governments can decide bitcoin will be legalized .
Topic: Why lot of countries do not allow to use Crpto? - page 34. (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?
It only means that their country cant handle the growth of crypto because government are getting funds on banks and people prefer to invest on bitcoins more than placing their money on banks which can reduce the funds of the government.
What do you mean under 'a lot of'? Google search tells me that there are only less than 10 countries who banned crypto and in all number of countries of the world its actually not so much. In explanation why one or another country banned bitcoin its written that its out of their economical laws. So, they simply do not want to change their laws cause of bitcoin, changing laws is long and expansive process as I know.
Yes, we should quantify our data base on the specific country who Banned crypto currency. THe issue on Banned was been into the history of crypto currency market, not to mention the issue on Hacking, Scammer, and a lot other issues posted against crypto. The government want to Regulate the entry of Crypto currency Digital trading into their country. That's why the news about Banned is all over the news, But it is only limited to the country Critical to Crypto.
It seems that using Crypto is illegal in many countries. Because it lost so much of the government's interests. They can not control it, resulting in many bad things happening like tax evasion, money laundering, illegal transactions, corruption, etc. So the best way is to ban it.
Many countries around the world prohibit cryptocurrency because they can not manage transactions and exchanges in the crypto market, which makes governments feel very difficult to manage. But still many countries have adopted Bitcoin and cryptocurrency as a kind of asset and payment, used in many services around the world.
It seems to me that the problem is that the government, a priori, should have information about every person and all his material acts. What property he has, how much money a year earns, how many taxes brings to the state Treasury. It is for this reason that rich people and transfer their large sums to offshore.
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 purchase of crypto currency and exchange can be in many ways. You do not need to buy for dollars, you can exchange tokens, which you can earn for free on this forum.What do you think about that?
But I also believe that the proper use of crypto-currencies and technologies that are associated with them can only improve the economy within the country.
They might be afraid of decentralization too. Governments usually like to take as much control as possible especially in the monetary sector. There is lack of exact regulation in many places as well.
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?
This isn't blame of these banks as they are simply following the nation run the show. At the point when bitcoin is unlawful in a nation then certainly they are comfortable possess perspective that where you get these bitcoin from as they are not under the control and law. This is essential advance to be taken by legislatures of these nations to bestow a legitimate angle to bitcoin with the goal that it can be managed effortlessly and transparently.
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.
the main reason why there is still a government that prohibits bitcoin in the country is, because bitcoin can not be controlled by any party including the government. 
It seems that using Crypto is illegal in many countries. Because it lost so much of the government's interests. They can not control it, resulting in many bad things happening like tax evasion, money laundering, illegal transactions, corruption, etc. So the best way is to ban it.
many countries do not allow the use, for problems they could not manage transactions through crypt
Lot of countries do not allow to use crypto the reason behind this is they are afraid the growth of bitcoin and people are using it for illegal purpose. There is no tax for bitcoin, so government cannot control the people who use bitcoin. If bitcoin enters in to the country it will dominate the local fiat. There is no value for local currency and the people are using only bitcoin and invest in only bitcoin. Because the profit will be more when compare to other investments.
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?
For me the most common news I see from countries that prohibit cryptocurrencies are that they basically not their fiat currency so that's why it is not allowed to be transacted with other than that is they always related it to being the money for criminals which is simply a dumb assumption to make now..
The reason why the states do not allow is usually the money laundering problem. In addition, it is also the countries that show their nominal currencies worthless.
The fear of undermining the economy is impressive. This is the main reason why everything is happening now in the world of crypto-relations and countries with their imperfect laws. Unfortunately, this will be so long and I hope that justice will win.
This thing is new to them, new system and technology and they are weighing it up, examining every single details of it its not that they don't accept it its just that they think it will affect their socio economic system and also bitcoin is decentralized, they cannot control it. There are also many process to consider before accepting it.
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I was thinking that those guys were sitting in the government's of those countries which forbids Bitcoin, just are having a lack of knowledge and education about the principles of blockchain operating.
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?
You may be right but many countries ban bitcoin because bitcoin is a decentralized platform, and they can not control transactions that can increase criminal activity such as gambling, ...etc I think if their country can not solve those problems , the best way is still to ban bitcoin . What do you think about that?
because they do not know what is bitcoin and they are also scared because bitcoin are useful right now and many payment's method by using a bitcoin. many bank are not allowing also if you widraw your bitcoin to the bank they have many question's too you where did you get that money.
This is not fault of these banks as they are just following the country rule. When bitcoin is illegal in a country then definitely they are right at their own aspect that where you get these bitcoin from as they are not under the rule and law. This is basic step to be taken by governments of these countries to impart a legal aspect to bitcoin so that it can be dealt easily and openly.
As you can see, countries who prohibit the use of bitcoin are those who are concerned with their people and afraid gaining their money back. Some countries allow the use but other banks in such countries banned it anyway.
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