Maybe because the government doesn't want their centralized finance system disrupted by bitcoin.
some countries try to banned bitcoin to protect their existing centralized bank system.
Topic: why some country banned bitcoin? - page 4. (Read 10262 times)
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
The countries which are banning Bitcoin probably don’t want to lose their control on the financial system of the country. Bitcoin is a decentralized concept which completes the transactions directly between the parties without the involvement of any third party. This is a threat to the existence of banks. Also, it would be difficult for the governments to claim taxes from the people. is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
The central bank of Bolivia issued a resolution banning bitcoin in 2014.Not regulated,according to a 2014 statement by a central bank of Brazil concerning cryptocurrencies.There is no regulation on the use of Bitcoins.
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Every country love to use their own currency and want to rise the price of their own currency in the international market. They never want any outside currency in which they have no regulatory control. Bitcoin is a such type currency because it is decentralized in nature. Bitcoin affects their country own currency value and ultimately affect their country economic and financial growth. Due to its digital nature it doesn't pay tax to the government. Bitcoin is also used as a crime tool for many anti social people. Because of this many country ban it in their country. 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?
To our knowledge, Bitcoin has not been declared illegal in most countries.is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
However, it is still possible to regulate the use of Bitcoin as well as to regulate other financial instruments. Just like the dollar, Bitcoin can be used for various purposes, some of which may be considered legal or illegal depending on the laws of a country. Related to that, Bitcoin is no different from other devices or resources that must follow different rules in each country. Bitcoin can also be complicated by strict regulations, making it difficult to determine how many percents of users will keep using this technology. The government that prohibits Bitcoin will prevent its business and domestic market from growing, thereby shifting the chances of innovation to other countries. The challenge for policymakers, as it always does, is to develop efficient solutions without hindering the growth of newly emerging businesses and markets.
Bitcoin banned is due to government concerns in some countries that bitcoin will cause fraud cryptocurrency, bitcoin hacking and can be used for money laundering and illegal activities. Transactions using bitcoin also can not be traced by the government and are not taxed so of course it will not benefit for the government.The existence of bitcoin is also considered to harm the local currency that can damage the financial system. I think that's why government should made a regulation to avoid it, not banned it.
I think because they saw bitcoin as a threath that their economy will go down because think that bitcoin is a scam. Because they think this is not good to their citizen. They think that bitcoin is not safe for theur citizen that the money that they will invest will be gone because they think it is a scam.
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Well some government in different countries banned bitcoin, because they are afraid that some people may use it for crimes and terrorism it would be a big risk from them, yet some poeple are worries about the bitcoin, asking that why it should be banned? Maybe some knew the answers and all they can do is to follow what the goverment implemented and if they dont they can be arrested. There are other reason why they banned bitcoin, i know that this not enough but you could read some articles about or search from the internet to enligtened your knowledge. 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?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
There are countries who are being negatively affected by cryptocurrency like their economy is drastically decreasing because some of the governments are getting their capital from banks through taxes but people chooses to invest on bitcoins and that's the reason they are banning cryptocurrency.
For some reason, this bitcoin is prohibited by some countries. I think maybe because bitcoin does not pay taxes on the state or also the country does not want its currency replaced by bitcoin. What the state fears is that they are afraid of bankruptcy. I am very sure, if bitcoin is used by many countries I am sure it will not be long before the country will go bankrupt. I am very grateful until now my country does not prohibit bitcoin use and do not think too much about bitcoin. Because bitcoin can help one's economy including me.
Because i think some country affects to thier currency movement or economic movement so they banned it.
It could be also will affect in other big businesses to that country.
It could be also will affect in other big businesses to that country.
We have to accept the technological invention. The person or the country who become late to accept it will lack behind. Some country by their law banned BTC due to their tax or other policies. I think this is not wise decision. They may allow it & bring it within their law & policies. By banning no country cannot stay their people away from BTC.
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Few countries banned bitcoin because they are afraid of what can cryptocurrency can do in their nation. Which is I found not fair to cryptocurrency. It is just a form of money and what should these countries fear are the people that feeling unsatisfied with the current available paying methods in the market right now. Bitcoin offers them another option and that is actually a good thing for me.
Because government can't collect tax from bitcoin thus they make ways to earn from peoples earnings from bitcoin.
Tax collection is just one reason. Actually most of the government fear the bitcoin involvement in their monetary system making government itself money less. People when start to save their investments in bitcoins and not in banks, Government wont have then any money left to run the government machinery and may collapse if they have not planned well.
Because government can't collect tax from bitcoin thus they make ways to earn from peoples earnings from bitcoin.
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
They banned bitcoin due to some reasons government cannot take advantage on the benefits of bitcoin.I have seen some reasons behind it in banning bitcoin maybe they won't let people educate about cryptocurrency .I have some thoughts that the government won't let people to be involved in crypto business so that no one could take their power from the government.is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Some countries banned bitcoin because for them money from anonymous payment and digital money are money that cannot be used in legal entities. Also some countries banned bitcoin for they want to use thier own local currency. They banned bitcoin because its ease of use for criminal purposes.
Bitcoin is use in illegal acts such as buying prohibited drugs on black market ,hiring serial killer and many more that is not allowed by the law.
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
They banned bitcoin due to some reasons government cannot take advantage on the benefits of bitcoin.I have seen some reasons behind it in banning bitcoin maybe they won't let people educate about cryptocurrency .I have some thoughts that the government won't let people to be involved in crypto business so that no one could take their power from the government. is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
karna, fear of being misused for crime (terrorist). and fear in wrong use for money laundering.
I think they forbid bitcoin because the government doesn't raise bitcoin. also I have thought that it isn't good for the country. They don't know that people with high income, the new country grows.
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