Topic: Why lot of countries do not allow to use Crpto? - page 8. (Read 4308 times)
The major reason through which crypto is not legally allowed is the virtual nature and it is physically not available so that is the reason but it is helpful for the online users and making money through crypto trend is increasing day by day.
Currently, many countries do not allow the use of cryptography because cryptography is a virtual currency that is difficult to control. I think future countries will accept ciphers because of their great potential to improve human and material life. .
Maybe they fear that crypto will dominate before fiat currency and it will result to the decline of the country's economy. Where in fact, it will contribute more since they can still use fiat even though there will be a utilization of crypto in the country. I am into the usage of crypto without eliminating the importance of fiat.
A large part of the public sector comes from the tax. So is the government has the most attention to taking tax .Not only tax, the governments of these countries banned Bitcoin to prevent various illegal activities. But it does not seem to be the best initiative for me. Because the government of these countries could not prevent immoral activities even after all this.
Many reasons why a country banned the use of crypto currency, one of the most worry about is about tax issues, as well as money laundering.
Underdeveloped countries strictly needs their citizens' contribution which we all known called as tax to construct government projects, to give budget on health, firearms and etc. So if crypto won't tax their people, they will be easily crippled and cannot do anything because they don't have the budget they need.
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 you exemplify is one of the reasons why the state does not accept crypto, if its citizens use cryptourrency to transact it will only increase the crypto demand and the government does not get anything, the government wants reciprocal benefits (no tax no profit and not be allow). One more thing about unilateral thinking by the government, as if crypto is there to help with crime is the reason why there are still many of the lay people not using and interested cryptocurrency. What do you think about that?
The problem is, it's hard to collect taxes from everybody that is using cryptocurrencies and buying anything with the use of the. Only countries with huge economies are allowing that to happen.
Yeah you right. I realize that even though many people say that the government can also benefit from taxes that can be applied but of course it will be difficult to capture the users of their country. because anonymously there will certainly be many people who will misuse the tax obligation 
The problem is, it's hard to collect taxes from everybody that is using cryptocurrencies and buying anything with the use of the. Only countries with huge economies are allowing that to happen.
Well its not hard as long there a law and limit for the transaction anyone can get an tax on it to help on the economic growth of a country. not only the countries with huge econimies can use it. all the country as long they have the access on the internet and have good crypto analysis and advisers they can provide an service to country of using crypto related and help to grow and support theyre people on their needs.
Because their government is close minded regarding their stand of Crypro or Bitcoin existence in which they want to ensure that no more illegal activities that might be additonal to their current problems that they are facing. So by declaring it illegal without considering the regulation will be the easiest way to get rid of possible problems that Crypto might created in their country.
In my opinion, lots of countries would wanna use bitcoin and the rest of the cryptocurrencies as part of their daily lives, the problem is that the government is still having lots of issues about the whole crypto system. There are some countries who doesnt really wanna get involved with cryptocurrency, because they think that this change is is gonna bring the whole economy down, but I think, this kind of change is what our economy need to be able to step forward and make new discoveries. the crypto system is definitely gonna bring our world a better way.
Blockchain is still in the development stage and there is no proper regulations about it. What is good is that it keeps on making a lot of progress and people slowly adopting the technology.
For me there are a lot of countries that is not supporting crypto because many crypto doesnt have future and i think the main reason why many countries not supporting crypto is because the goverment can not manipulate the value of crypto and criminals can also used crypto for there bad transaction. 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?
There are many reasons for a country not to use crypto currencies. But the main reason is still the law of their country has no law for crypto currencies if the dispute occurs, the effect may be on the national currency. The market for crypto currencies is small and risky. What do you think about that?
It is largely due to the fact taht such government are ill-advised by their Governments, often times those countries want to have a stiff control on the flow of money and they feel cryptos will disrupt such
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?
Each and every country has their own reason why they don't allow the use of crypto anymore. Maybe it is because of the threat crypto is showing to the government and the economy or maybe because they are too afraid to take the risk of allowing it yet it wouldn't be so effective. They are just playing safe but still I hope someday it will get legalized all throughout the world.What do you think about that?
maybe the government was too scared to take that risk because they think that they can't handle the expansion of crytocurrency in their country when they allow it in their country
In my country central bank issued public statement about bitcoin.
They said that bitcoin is not currency and also that bitcoin is not financial asset.
I guess that they don't feel comfortable about bitcoin because of high risk, no regulation etc.
They said that bitcoin is not currency and also that bitcoin is not financial asset.
I guess that they don't feel comfortable about bitcoin because of high risk, no regulation etc.
I think somw countries don't legalized or banned cryptocurrencies because they think it will be used as money laundering business because you can transact without revealing your identiry and also it can be done online. One more is that they can taxed cryptocurrency so maybe those are few reasons why they don't legalized crypto in their country.
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?
Each and every country has their own reason why they don't allow the use of crypto anymore. Maybe it is because of the threat crypto is showing to the government and the economy or maybe because they are too afraid to take the risk of allowing it yet it wouldn't be so effective. They are just playing safe but still I hope someday it will get legalized all throughout the world. What do you think about that?
The problem is, it's hard to collect taxes from everybody that is using cryptocurrencies and buying anything with the use of the. Only countries with huge economies are allowing that to happen.
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