Topic: Why lot of countries do not allow to use Crpto? - page 4. (Read 4308 times)
I think, perhaps because the crypto is unstable in value. This stems from the fact that no intermediary is mandated to ensure the stability of the currency. The government can not fully control the crypto market, leading to many legal issues.
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
My brethren, you might be having a point all right but as long as transactions on crypto does not generate any form of income to the country as a whole, countries will be against cryptocurrency. Again, most countries who are against cryptocurrency see that, all the cryptocurrency especially bitcoin has no value becaise of its volatile nature and the threat at which it poses to most banks across countries. These are some of the few reasons why some countries do not allow the use of cryptocurrency.
Crypto money cannot keep pace with the need for transactions, which are prone to blockages and large fluctuations in value. In general, the decentralized technology of crypto money, though sophisticated, is still a weak replacement for strong monetary support.
Cryptocurrency can not keep pace with the need for transactions, which are prone to blockages and large fluctuations in value. In general, the decentralized technology of cryptocurrency, though sophisticated, is still a weak replacement for strong monetary support.
your wrong dude . cryptocurrency is introduced to be the solution for any payment transactions along with the blockchain technology which can also solved a lot of problems . if they are worrying about fluctuations , well id say not all cryptos are highly volatile ( except bitcoin ) thats why most of them are still useable . cryptos are not weak and they can always compete for any other payment solutions .
other countries that disaproves the use of crypto might be have other reasons , but soon they will all follow the trend because they will left behind if not .
it is because they have less trust in crypto or have nothing at all and they do not earn something from it yet.
Different country has a different perception in bitcoin, I guess that was mostly government thinking of that people may be used bitcoin to have an illegal transaction and easy to make any action against the law of the country. And the next is they think also that bitcoin may be the big competitor against the banks near in the future and they can't control it.
Different country has a different perception in bitcoin, I guess that was mostly government thinking of that people may be used bitcoin to have an illegal transaction and easy to make any action against the law of the country. And the next is they think also that bitcoin may be the big competitor against the banks near in the future and they can't control it.
Cryptocurrency can not keep pace with the need for transactions, which are prone to blockages and large fluctuations in value. In general, the decentralized technology of cryptocurrency, though sophisticated, is still a weak replacement for strong monetary support.
Because cryptocurrency is not created by them, nor is it regulated. Something that governments can't control is usually something that they fear. Most of the governments say that this is in the benefit of their people, but I really don't think that's true, why would they start thinking at their citizens when it comes to crypto but they really don't mind them, when the people have nothing to eat, basic health care or a place to sleep? If they really would care they would do something to help those in need and raise the economy, with crypto being one of their last things to think of.
I believe the countries cannot protect their interests on behalf of their people against peoples of other places. We have to be able to secure our borders in some way shape or form before we let a global currency infiltrate every aspect to our lives. Eventually there will be a full adoption, it just takes time for the industry to have a mainstream ready logistically sound, international compliant product.
our local currency is manipulated by our government. Yes, it has a big effect on the local currency,they know how much the demand and also the value of the foreign exchange. I guess that was mostly government thinking of that people may be used bitcoin to have an illegal transaction and easy to make any action against the law of the country.they think also that bitcoin may be the big competitor against the banks near in the future
yes I also agree because with the existence of this cryptocurrency. the country will be helped, the economy will develop and will reduce unemployment as well. but maybe countries that have not legalized this fear if one day their currency will fall. because cryptocurrency is still fairly new, and they might not understand it. if they understand it maybe they will all legalize 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?
yes maybe one of them, the government wants to get taxes from the goods we buy or own. but it could be that the government is also afraid of its currency being replaced by cryto because of the diminishing interest in using the original currency.
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?
Because government scared that crypto will use for bad things,laundering and frauding that's why some country refuse to accept crypto to their country. And I think it's not wrong because they protecting their people from frauds. What do you think about that?
I agree with the thing that it is not that harmful to a country the government just don't control the currency that are in the blockchain. And also the demand that it create in a country because it is a USD dollar it makes the more value like here in my country.
the main reasons i think some countries are against crypto currency is majorly due to the fact that crypto currency is not taxable, and as we know, taxes is a means of generating revenue for any country. Thats why the government want to regulate the activities of cryptocurrencies.
hink there are two main things why many governments would not want Bitcoin for their country, their people. First is because it is something that they cannot control. For them, this is a serious matter that they will not be able to control the cash flow, cannot monitor and manipulate it. Second is that, Bitcoin or crypto currency is not taxed, so basically, they will not getting tax from all crypto transactions. So governments will not allow a gold mine as big as cryptocurrency to go on be successful without them getting any benefit out of 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?
One of the reason why they not allowed it is decentralized which no one can control or manipulate it even a government. Most of the government do not support because it is tax free and if everybody in a country use it the government will never get a tax again. Lastly, I also think that the government will not allowed simply because they it is a scam even though it is not. What do you think about that?
governments do not allow stuff which does not give any money or profit to the government I am not talking about any commission to the person I am talking about the position and their responsibilities. They are supposed to maintain the country so they have to extract all the profit they can so they can keep the country up and running but getting with the system like cryptocurrencies is way too much new. So it will take some wars and sometime before everything starts to settle down. Let's just wait for it.
I think that the real reason for this is because the government of any nation would not use something for their financial system that they cannot control or regulate. Plus the fact that they cannot get taxes from crypto currencies so there is not good use for them, in their perspective.
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