Why lot of countries do not allow to use Crpto? - page 9.

Ng93

full member

Activity: 266

Merit: 100

Quote from: udana123 on July 02, 2018, 12:28:15 PM

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?

I think the problem is that cryptocurrency can be offshore for big money, which hinders the country's economy. The budget does not go taxes, because part of the money is cashed through cryptocurrency.

bapetdik

full member

Activity: 373

Merit: 100

Because most countries think that crypto is very unsafe to use. because the value of cryptocurrency is very unstable. And maybe that's the reason for the state banning crypto. But there are some countries that allow the use of cryptocurrency. It depends on the government.

forbiddenone123

member

Activity: 174

Merit: 15

We all know some of the part of our country are banning of using crypto because the government of different country are against it. But some country is legitimate of use of crypto. They say that crypto will destroyed our financial status but for me crypto will help in grow our economy if we support them.

Dianafangki

newbie

Activity: 207

Merit: 0

Quote from: lady Royal on August 25, 2018, 03:55:05 PM

Because it cannot be tracked and most of the countries do not allow the use of crypto because it can be used for illegal activities with no record and the government cannot do anything if something bad happens.

I imagine if crypto is applied as a legitimate means of payment, every transaction that is abused and fraudulent will be a big problem, and of course it cannot be traced clearly, the state has a fear of legitimate accountability, in this case it is still a common fear because there is no the right rules to regulate it.

Natasha95

member

Activity: 364

Merit: 15

Quote from: udana123 on July 02, 2018, 12:28:15 PM

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 fact is that many States are afraid that the cryptocurrency will be a way to launder their income by masking and receiving money in another country of the world. And the state will not even know about it.

paulspider

member

Activity: 270

Merit: 10

The f\government in most countries have come out with the notion that the do not receive any fund from various cryptocurrency transactions we do make in the country hence they always speak against crypto and misconceptions go on to rummage in their minds.

lady Royal

hero member

Activity: 720

Merit: 500

Because it cannot be tracked and most of the countries do not allow the use of crypto because it can be used for illegal activities with no record and the government cannot do anything if something bad happens.

mcTether

jr. member

Activity: 238

Merit: 2

There is still a lot of skepticism in cryptocurrency that is why most countries are yet to accept it.

MNDan

full member

Activity: 287

Merit: 101

If I would be in the country leader I would also not just take for the truth that fact that people are saying for me that Bitcoin is worthy and positive, I would like to examine all the positive and negative sides.

krishnaverma

full member

Activity: 1442

Merit: 108

Quote from: Sasha Grey on August 25, 2018, 08:47:28 AM

Many countries fear that crypto usage will continue to increase so that the use of fiat is reduced or even eliminated, this is what makes the country not allow crypto to be used freely.

Yes, that is the most common concern for most of the government against crypto.

I personally feel that it is not a mature decision. If some new system has the potential and features to replace crypto, it should be encouraged. That situation will never come though in my opinion as banks and crypto can exist together.

lelylely

member

Activity: 602

Merit: 10

The reason why countries do not legalize bitcoin to be used as a means of payment is, the state has its own currency and of course they do not want the national currency to lose to bitcoin.

ir.yance

full member

Activity: 354

Merit: 100

many countries do not allow crypto because they consider crypto currency as a coin that has value but cannot be used as a means of payment in all countries, besides that there are also countries that still want currencies that have been created by their countries that have images of people who merit in their country, like photos of heroes and others.

Irvinn

full member

Activity: 966

Merit: 104

Quote from: udana123 on July 02, 2018, 12:28:15 PM

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?

Including the fact that citizens of one country will be able to transfer money to other states uncontrolled for the state, this is one of the reasons why the states do not want to implement crypto currency. About. this was clearly stated by the Chinese government last summer, indicating that it considers the currency a threat to the economy of its country.
Another problem from the point of view of the states is the high volatility of the decentralized crypto currency and therefore a significant level of risk when investing in it.

ninio

newbie

Activity: 126

Merit: 0

because crypto currency are using in some illegal activities thats why some countries not allow to use crypto currency because we all know that crypto currency have a high anonimity in every transaction so if someone use it in illegal no one can trace it. Also some reason is crypto is very volatile and the value is unpredictable.

Girlsbit

newbie

Activity: 108

Merit: 0

Maybe they do not want to solve the questions connected with the crypt then, therefore, they do not accept it.

DevilSlayer

sr. member

Activity: 1456

Merit: 359

Quote from: udana123 on July 02, 2018, 12:28:15 PM

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?

It is because they are aware that cryptocurrencis are threat to banks. Government can't control the cryptocurrencies because of its characteristics of being decentralized. There is a high chance that the cryptocurrency can change the economic system.

Sasha Grey

member

Activity: 672

Merit: 10

Many countries fear that crypto usage will continue to increase so that the use of fiat is reduced or even eliminated, this is what makes the country not allow crypto to be used freely.

Vzae

full member

Activity: 431

Merit: 100

In my opinion, some countries forbid crypto from entering their country because they assume that digital currency is very absurd and it's difficult to know who is responsible for it.
Because in the transaction crypto only leaves TX ID without knowing who the seller and buyer are. And also another reason is that the country has no tax revenue from crypto.

andriarto

sr. member

Activity: 1344

Merit: 253

Quote from: indog on August 25, 2018, 07:33:57 AM

Yeah trading with crypto isnt harmful to the country's economy. But they always complained about unclear reasons to oppose crypto. I think crypto is very beneficial for the country. Fiat sale transactions for crypto or crypto for fiat is the reason, isn't this better !

crypto is a complement to fiat currency, so if the government legalizes it, i don't think it's wrong. they are only afraid when a bubble occurs, even though it won't happen. precisely ones that legalize it are developed countries

indog

member

Activity: 208

Merit: 10

Yeah trading with crypto isnt harmful to the country's economy. But they always complained about unclear reasons to oppose crypto. I think crypto is very beneficial for the country. Fiat sale transactions for crypto or crypto for fiat is the reason, isn't this better !

Topic: Why lot of countries do not allow to use Crpto? - page 9. (Read 4308 times)