Although Bitcoin can be freely used by citizens, the State Bank of Vietnam issued a statement in February 2014, warning of the use of bitcoins and prohibiting credit institutions from dealing with crypto currency.
The statement reads: "Thus, all exchanges of bitcoins that allow users to trade anonymously can be used to launder dirty money, sell drugs, hide from paying taxes, exchange and pay illegal activities." In December 2016, the Vietnamese government stated that it would consolidate the encryption rules, as its current provisions "do not correspond to the present state of things.
Topic: why some country banned bitcoin? - page 2. (Read 10262 times)
Not all countries look to the future, especially when it comes to crypto-currencies. Bitocoin is still illegal in some countries, because according to the government of these countries, bitcoin is the machinations of the devil, the capitalists and the world collusion of the elders of the elders, an outlandish thing and the thing that is easier to forbid than to take under its wing.
Probably because officials do not know and do not understand what Bitcoin is and how to apply it, so it is easier to forbid, and then to understand what it is, but it is a way of lagging.
Because they can not control the bitcoin. Anonymous or random transactions make it impossible for them to track and find their users. They can not impose a tax that can lead to a decrease in government revenues, this will create a loss to the government in such a country. And the next problem there are some people who abuse bitcoin, such as illegal transactions, money laundering, and so forth.
I think this is a bad situation. Some country banned bit coin because they cannot earn income from tax. If people invest inside the country, the government charge the tax and they can uplift their income, but if more people tried to invest on bitcoin, government lost a much income. So I think as this reason, some county feeling banned in bitcoin.
because the main reason for this bitcoin ban is really very difficult to control Bitcoin. For now there are some countries that legalize Bitcoin but these countries still can not control Bitcoin as a whole so I think it will take longer to see Bitcoin legalized around the world, some countries ban bitcoin because they are afraid of getting damaged in the economy.
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
In my opinion some countries banned bitcoin because of rampant scamming activity and their government don't have enough resources to control on transactions. is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Maybe because bitcoin itself is anonymous. So it is difficult for the government to manage its users in the country. And also bitcoin is very unstable and certainly the government refuses to manage it. Bitcoin is very popular now and is not associated with banks. But somehow some countries are still banning bitcoin. Probably because they are afraid of something big from bitcoin. But we do not need to worry because of course bitcoin will tetep used even if prohibited.
They forbid bitcoin because the government did not levy bitcoin .. and thought it was not good for the country. They do not know that high income people, the new country is growing.
There are probably so many reasons why a certain country will not accept Bitcoin. In addition to tax concerns, there is also the fact that Bitcoin appears too underground with its anonymous and decentralized features. This might give an impression to the government that Bitcoin is only a currency that belongs to transactions under the government radar. And then, of course, cryptocurrency might still be a vague area to them.
some country banned bitcoin because there country currency is failed. almost all people use bitcoin.
Bitcoin is banned in some countries i think maybe because they are afraid that other bank will close because of bitcoin or maybe they do not know what is the advantage of using bitcoin and how they can help bitcoin in their country.
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Maybe some country banned bitcoin because their government don't have the capability to regulate and impose taxes on bitcoin transactions.is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Not really, every country has their own reason why they are banning Bitcoin. At first I thought that they are banning it because of its volatility but in the end it was their decentralization.
I've read this site last week and I guess it can answer your question why some countries ban Bitcoin. https://www.ccn.com/top-10-countries-bitcoin-banned/
Bitcoin cannot be banned no one country or 10 country can bann Bitcoin. The public have to be aware that Bitcoin transactions are decentralise and cannot be Banned by any institution. spending bitcoin is even safer and much private than sending an SMS with your phone or computer. the chain cannot be hack by any body its like air when no one Knows where its coming from and where its going too. If you are new to bitcoin you should do some reading and be confident in the ideology of Bitcoin and other similar potential coin and blockchain technology.
I repeat Bitcoin cannot be banned because the transactions are not done over the counter.
I repeat Bitcoin cannot be banned because the transactions are not done over the counter.
countries that prohibit bitcoin, the possibility of government in that country does not permit or disallow people to do business online or there are provisions in that country
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Maybe some country banned bitcoin because their government don't have the capability to regulate and impose taxes on bitcoin transactions. is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Some country banned bitcoin, because they don't know about it properly.they think it's fake.Bitcoin is a digital currency.they think people earned money and used it in criminal activities.people use bitcoin for durg.thats not right.bitcoin can use for good work.
probably Because they see that bitcoin is a cryptocurrency that can not be monitored by the government and they are afraid that people can do illegal transactions, some countries try taxes cryptocurrency, but there are many other currencies you can exchange with and not pay taxes
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
In my own personal opinion, the reason why other countries banned bitcoin because they see it as a threat that it could replace the current currency and banks as well. Some thinks bitcoin is just a scam to trick people to invest their money in cryptocurrency, which is not but there are some scammers that you should really avoid. Hoping that their will be no banning bitcoin because it has a huge effect to its price. is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
of course there is, if there is no problem there will be no banning that will happen. myabe there problem is there are illegal things happening in their cointry with bitcoin or they will are doing this things to add limitations. they may also doing those ban things to make the value of bitcoin drops for them to earn a more like what is happening in the country of China, when China spread news the value of bitcoin may drop or increase. we dont know but every country has their own agenda in terms of bitcoin lets just hope that bitcoin will not be banned on other countries too. is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
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