Bitcoin Forum

Some countries have banned crypto,saying it cause scams and financial instability.But others argue it blocks innovation and pushes investors underground.Whats your opinion-does banning crypto protect citizens or stop progress?

The argument that the ban on cryptocurrency in a country blocks innovation and suppresses investors is true, instead the government in those countries could create an appropriate regulatory policies serving as guideline that could provide enabling environment that would prevent scam and safeguard investors. Crypto driviee innovation and attracts investors from different industries and sectors.

To place ban on crypto is to indirectly stage a war for the young generations against their privilege to several opportunities this advance technology might have brought our ways, so many will fight it well to an extent, because it has provided with lots of opportunities we couldn't have seen from the centralized economy and government, if they succeeded to ban crypto, there will be much dependency on the failing economy and the masses will mostly be affected.

Banning crypto?  Thats way more about control than keeping people safe.  Its the easy, but wrong, way to do things.

It wont stop scams, it just gets in the way of progress.  Its more about keeping the banks happy and the old money people in charge than helping regular people.

They have to look at their records for what's the source of these scams and how they started. Scams have been there even before the days of Bitcoin's existence. And as for financial stability, it lies within someone's ability on how they are going to manage their financial status.

It's best for them to study it carefully and don't just be one-sided. What they're doing is banning it based on what they think is wrong without backing it with evidence showing that it's changing people's lives and helping everyone with their personal economy and finances. They can compare it with how technologies have been in slow adoption before and so as bitcoin. Just like what this graph says, only 3% of adoption rate we've got and based on tradingview's article[1], only 4% of the world is holding it. This means that we're still early for adopting it, don't they like being the first few to adopt it?

https://s3.tradingview.com/news/image/cointelegraph:7769eb06e094b-9e59c34ef76b625764900f0b88c7e987-resized.jpeg (https://www.tradingview.com/news/cointelegraph:7769eb06e094b:0-only-4-of-the-world-s-population-holds-bitcoin-in-2025-report/)
[1] Only 4% of the world's population holds Bitcoin in 2025: Report (https://www.tradingview.com/news/cointelegraph:7769eb06e094b:0-only-4-of-the-world-s-population-holds-bitcoin-in-2025-report/)

Governments claim that crypto or bitcoin is the reason why internet scams are happening, then it's lie, the scams exists all over the internet and people also use the bitcoin users and lure them into their traps. And if they are talking about money laundering of financing terrorism then it also false because it were there even before Satoshi invented bitcoin.

BTW, this is how it looks when the government bans Bitcoin. :D

https://www.talkimg.com/images/2025/10/09/UGpOZc.jpeg

exactly right!

take india for instance. india has not officially banned bitcoin rn but what it has done is put 30% tax on any bitcoin/crypto gains, which is ludicrous if u ask me

the capital gain tax for stocks in the country is 10% for a financial year and on top of that there's rebate if ur total gains are less than 1 lakh inr u pay no tax

due to this 30% hefty tax many investors look for ways to buy/sell bitcoin/crypto through p2p trying to avoid this insane tax & they often fell for scams

if the govt. had applied the same capital gains tax on bitcoin/crypto like they do in stocks. most people would not try to hide their transactions and would freely buy/sell

like they do for shares in stock market,, and in doing so, govt. would have collected more tax as more people would have invested/traded using registered cex

so by putting this huge tax, govt. is losing money on taxes and people are falling for scams trying to buy/sell bitcoin/crypto through other means

but the government and their highly paid economics specialists fail to understand this simple fact

To be fair, since cryptocurrencies tend to promote privacy and decentralization while government is a centralized system. Therefore, adopting it will also cause certain disadvantages and difficulties for the government, they will have difficulty in managing the people as well as the national cash flow. But they should not ignore the benefits and advantages it brings to the overall economy of the country. Moreover, they can address those disadvantages and difficulties with regulations, not without solutions. Therefore, they should not ban it completely because it is technology and the future of finance.

Because it is the future, banning cryptocurrencies only causes disadvantages and hinders the overall innovation and development of a country, IMO. Countries that still impose outright bans on crypto will soon pay the price.

That's a stupid excuse to come up with for banning crypto. Fiat is used for more scam than crypto daily. Before crypto came into existence was there no scam. Banning crypto will make the citizens in that country not to benefit from the opportunities in cryptocurrency and will affect the country economy indirectly. This is because there are different ways to make profit from crypto which will limit the citizens from being independent from the government.

The truth is even if bitcoin is ban in a country it won't even prevent people from getting scammed so those countries who think that bitcoin is the cause of those scamming cases that keeps happening is making a very big mistake. Though i don't mean to dispute on the fact that bitcoin contributed to this scam cases but they shouldn't have move that far, imagine if everyone maintain privacy did you think that scammers can gain access to our wallets or our belongings? But is due to ignorant and also not being cautious that lead some people into falling in the hands of scammers, so Even though the government chose to ban bitcoin in a country yet scam will not seize to exist. The Best thing to do is just to warn the citizens to be extremely careful.

Ignorance can make someone to keep thinking that he's always right in his doings.
Few countries that had banned Bitcoin are now purchasing it and some that think they are not yet prepared to buy and hold Bitcoin would finally realize their mistakes soon, maybe by that time the price of Bitcoin would have exceed $200k.
Those who choose to ban Bitcoin should continue in their superficial knowledge about the Bitcoin potential resulting to revenue accessible in a long term basis.

Most government that have made attempt to ban bitcoin or cryptocurrency have done that for the fear of their local currency, they fear it is going to distablize it because bitcoin is used as both money and asset reserve and that is why they made attempt also to create digital currency or version of their own fiat. China had this issue back then around 2017 but bitcoin was not stopped and lastly they couldn't fight it anymore and created yuan digital version. The point is that cryptocurrency or bitcoin is not going to be stopped by whatever propaganda. Some countries are rescinding their decision to limit the use of bitcoin. Before bitcoin, there have been corruption of, embezzlement and nepotism in government and so it is never a bitcoin cause.

When a country bans crypto, they cease the opportunity that could come through it and also denied the people who could have benefited form its adoption in that same country, what could have contributed to the economic growth of the country already had been denied and things may often remains the same as always in the country and with the way of running their economy.

When a government tries to impose unfair tax and discourage the users from crypto indirectly then it is going to bring the opposite outcome, the government will lose their tax revenue because people won't be interested in paying when they thought this is unfair tax rate  and also this will increase the unregulated market to grow big while the users will be left with security concern.

It needs the right kind of people to understand the situation instead of simply hating the technology which will also benefit the economy in long run.

You can only delay something that has value but you cannot deny the people what they want for so long, one way or another it is either the government does what is needful or some of the people will find a way around. I am glad that some countries that were skeptical about cryptocurrency especially Bitcoin are now turning around to accept it with friendly regulations. These countries that are still hostile towards Bitcoin can do the same, focus on regulations rather than banning it so that their citizens can freely join the rest of the world to enjoy the benefits of cryptocurrency. Bitcoin perticularly has built a solid reputation as a store of value and that is why the adoption is increasing rapidly, any government that is still denying it's citizens to enjoy the privacy and profit of Bitcoin is not being fair to it's citizens.

When I hear people say that allowing crypto to thrive in an economy will improve, I usually disagree.  Bitcoin or altcoins are not the only solutions to the economic problems of Nations. It could help create jobs, promote innovation and technology, provide an alternative medium of payment, and attract investors, but the government has a major role to play in the economic development of a country.

The notion that crypto promotes crime is false because fiat is more suitable for criminal activities. After all, cash cannot easily be traced.  Banning crypto will simply restrict the opportunities that crypto offers and drive people to use unregistered platforms. The government will also lose tax revenue and citizens will lose employment opportunities.

No country can effectively ban cryptocurrencies from their territories, as cryptocurrencies are resistant against censorship and their decentralized infrastructure make is impossible to keep away from the hands of certain citizens, even if the government wanted.
Banning Bitcoin and other crypto assets just means the government won't be able to collect taxes from capital gains from traders and investors, and it means the country will be left behind, while the whole world continues to advance.

It is better if the country embraces cryptocurrency and have a flexible regulation for it, instead of trying to ban something which cannot be banned

Cryptocurrencies are becoming an investment trend. Large institutions are investing heavily in blockchain technology, including major banks that were previously averse to it. Banning cryptocurrencies, in my opinion, is a step backward; it closes doors to opportunities for wealth and prosperity. It certainly impedes or limits economic growth.

I don't have a problem if countries are banning cryptocurrency but to also include bitcoin is where i see that they are getting it wrong because bitcoin is not as scam and it will even be laughable if any country sees bitcoin as what will cause financial instability to them. Bitcoin is built with strong blockchain technology that is very transparent for all to see which means that every transaction is recorded in the blockchain. If any country sees that people are using bitcoin to scam they should rather go after the scammers instead of placing a ban. Banning crypto cannot prevent citizens from getting scammed, before bitcoin was introduced haven't people been using fiats to scam? i wonder why any country will see bitcoin as a threat to them. I specifically emphasized about bitcoin in my reply because that's the crypto am interested in, the rest can go into extinction i don't care  8)

You've a point here, Fiat is used to launder more money than crypto. The government pushing crypto as more scam prone is in a desperate attempt to fight it's adoption by the masses. It's another big lie beside the already existing one that Bitcoin mining consumers more power and causes environmental hazard more than other mining activities. Fiat scam is as old and advanced as ever with reports of credit card hack, wire fraud and other kind of cyber crime fraud and Fiat money laundering which constitutes of a greater percentage of financial crimes but they would choose to tackle crypto by banning it. Every government that bans crypto currency is shooting itself on the fit because it's citizens would still use decentralized means to engage in crypto and the government wouldn't get to take their share of profits through taxes.

The ban on cryptocurrency is merely an excuse for the government so that we do not appear to be rebelling because we cannot be controlled by the existing system and this is clearly not a good approach when prioritizing security concerns as it indirectly hinders the growth of technology that should be available.

However, in the end there is not much we can do about this situation because after all we are aware that such bans are a defensive measure by the government to maintain its existing power and control.
When cryptocurrencies exist especially with the proliferation of Bitcoin it becomes very difficult for them to control the finances and economy of their people especially since the Bitcoin system is beyond their control, which makes them feel clearly unsafe about it.
Therefore, to this day there are still many countries or even media outlets affiliated with the government that portray cryptocurrency especially Bitcoin as something negative to keep the public ignorant about it.

My honest opinion on this, if they do this on our country it will seriously hit a lot of us and so the economy's bad and it will even make harder for the people that have crypto assets. So, this is a huge hit for our country if they start doing that. That's because our government starts to see the benefits from crypto and how it's changing lives here and how it's a huge game changer on this era. While we're fortunate that despite that the government of us are trying to limit the competition here locally for exchanges and that limits our choices still, we're not yet on the point of seeing it being banned.

Cryptocurrency has offered opportunities in investment and even individuals who are not financially buoyant are developing the culture to invest because of the opportunity that cryptocurrency carries. I feel like banning cryptocurrency in a country affects the economy in the sense that the culture of investing that cryptocurrency tends to promote will no longer be promoted among its citizens because if citizens develop an investment mindset you will find more person who are in the financial position to invest, investing directly in the country they are in instead of taking their investments elsewhere or not investing at all.

Before cryptocurrencies, has there been cases of scams?

Surely the answer to that is always a resounding YES.
Are these issues of scams still persisting in everyday fiat today, still a resounding YES.
What kind of progress have been made in tackling these scams that uses the fiat route? There is little to none for sure.

Scams do exist in fiat and as well as cryptocurrencies. The government just uses scam to be a tool for crypto bans and regulations.

Cryptocurrency is completely decentralized. No government or state can control it. That's why many countries don't accept it. Because the government of each country wants to control the national currency. If they accept crypto, they won't be able to control it. That's why many countries often ban it. However, banning it means closing the new income opportunities for the younger generation. Because they see it as a potential area. Crypto and blockchain technology have expanded new types of businesses and jobs among the new generation, so if they are banned, the economy will not be digitized. Banning crypto may temporarily reduce financial risks, but in the long run, it will not keep pace with the global economy and hinder technological development.

By banning crypto, and Bitcoin more specifically, governments are just preventing citizens from having access to a key long term investment which has been very profitable along the years, much more than any investments offered by banks regulated by such governments. Moreover, by banning crypto, governments let it very clear they don't respect privacy, neither autonomy of the local citizens when dealing with their finances.

The excuse is to take care the population, but in fact it's not exactly what happens for real. It's more like the government wants control and surveillance more than anything else.

Crypto you said, not Bitcoin, which means that all those shit coins are a part.

Do you know how many damages those shit coins are causing? People make thousands of crap tokens every day and sell them on the market hoping to see stupid investors clicking the buy button so that they can rug them later, nothing is been done about this and it is affecting crypto space so much.

Shit coins will cause s ams and financial instability in a country and yes they have the right to ban crypto if this is the case, assuming you are a leading of your country and it is getting to you that your people are investing heavily into shit coins causing some of them to lose their jobs and peoperties or turned them into debtors wouldn't you do the same.

I expected Trump to do a major cleansing in crypto space, this was what I hoped for that made me to pray that he wins, eventually he does but on getting there he started using his influence to promote his meme coin and doing the exact same thing that others are doing, he is just like those criminals and the only difference is he is a president.

These claims usually concern Bitcoin, which is very strange. KYC is already in place everywhere, so Bitcoin isn't exactly an anonymous cryptocurrency; unfortunately, it's been well-regulated for a long time.

Therefore, claiming it could be dangerous is incorrect. All cryptocurrencies are currently traded; they don't engage in illegal activity. All these claims about the dangers of cryptocurrencies are far-fetched, so they shouldn't be taken seriously.

Hopefully, regulations won't become too strict, and cryptocurrencies will at least remain in a gray area.

If they said crypto is associated with scam, I will not deny the fact that crypto is sometimes linked to scams. But what about fiat currency? Is it not also used for scams? Some governments that have banned crypto in their countries are just pointing fingers at crypto without having any concrete reason. The reason of scam does not make sense to me because even fiat currency are also use for scams and the benefits that crypto can provide to citizens are greater than its negative impact.

So, from my view, some governments that banned crypto in their countries are doing so for other hidden agendas, not because of scams. After all, crypto is not the only currency used for scams fiat currency is used for scamming as well. In fact, I would argue that fiat is used more often for scams than cryptocurrency.If the purpose of banning crypto is truly to stop scams, then why don't these governments create laws that punish anyone using crypto for illegal activities?

Not without good reason to ban. Some fake and cheap developers tried to trap or trap greedy people using hype as their main weapon and stole a lot of money. Most of the cryptos were involved in scams and as a result, ordinary investors suffered losses. They lost their assets in the greed of getting high profits in a short time.

Some scams have had a negative impact on potential coins. Such decisions are a hindrance to new innovations but it is logical to accept the best coins through verification.

It will have a small effect on an economy, because things like exchanges or casinos will choose not to base themselves in such a restrictive environment. It is better for a government to build up a clear set of laws that can be adhered to if someone wants to create a business or transact in these new forms of currency. Ultimately it is more reflective of the society, where they can be quick to ban things rather than engage constructively with "new" technology and this can sometimes make them rather late to the game if all other countries start jumping ahead. This industry can create jobs and income, so should be nurtured carefully rather than driving it elsewhere.

Banning crypto might look like a way to protect citizens from scams or financial instability but in reality it only hides the problem instead of solving it scams existed long before crypto and they continue to happen even in systems controlled by governments the real issue is not the technology but the lack of education and proper regulation when people don’t understand how crypto works they become easy targets for fraudsters so teaching people about security and setting fair rules would be a much better approach than banning it completely.

Most governments fear crypto because it challenges their control over money and financial systems national currencies are centralized and monitored but crypto runs on a decentralized network where no one authority has full power that freedom makes regulators uncomfortable but it’s also what allows innovation and economic inclusion crypto has created new opportunities for entrepreneurs developers and investors especially among young people who now earn globally without borders. Banning it not only limits financial freedom but also drives innovation underground people will still use crypto but in less transparent and more risky ways instead of working with the technology governments end up fighting it and losing the chance to benefit from it the countries that embrace crypto responsibly are already seeing growth in tech startups blockchain development and foreign investment.

The biggest scam of crypto comes from the developers of shit coins. I don't think any study has been carried out on this; if it has, I would like to see it. I believe people have ost more money on shit coins than they have on scams and hacks, but nobody talks about these. The amount of money people lose to memecoins a day is enormous. I remember the trend of celebrities creating their own memecoin. So many celebrities created tokens, and they're all rubbish today. People lost money in all those projects.

Governments don't care about that, because those are the elites of the society. I don't agree that crypto should be banned because when you people do it like that, you include Bitcoin, but I believe the development and launching of altcoins should be heavily regulated. So much money has been lost through shit token and all that money goes to someone's bank account, which is the biggest scam in the crypto industry because it's legal. Every day, at least one token is listed on an exchange or launched and this will keep happening because there is so much money to be made.

Banning crypto makes the country goes back by a decade as cryptos are the future currency and not letting citizens use the benefits is just stopping them from innovations. Cryptos are not only a financial source now, they are also an innovation hub which can create a lot of job opportunities which can indeed help the economy of that specific country.

Mostly all countries are now rethinking about crypto and are planning to uplift the ban by creating few specific regulations where investors can still invest but needs to follow the all the regulations.

Banning crypto is definitely going to hurt the economy so the governments should really consider crypto as an opportunity and should look on the positive sides.

The governments are more aware of benefits of crypt (or Bitcoin) then us, they are not accepting crypto because the benefits of crypto are not in favour of governments. I have my opinion the governments have less resistance towards centralised crypto that flows through CEX, which can be monitored and if required controlled. The real issue of government is with decentralised Bitcoins, over which they have zero control. That's why governments are using excuse of scams to limit use of crypto in the country.   

Banning crypto means creating distance between the government and crypto investors or traders and harming the country economically. Countries that ban crypto to avoid scams have the most scams. It is not because of crypto, but rather government people and government officials who are most involved in these scams.

From my general knowledge, the main reason why governments of some underdeveloped countries ban crypto as a scam is to control the people by making the people of the country dependent on banks and open the way for their own theft. When the banking system becomes weak, the government's way of stealing becomes weak. Even governments want to have as much control over the country as possible, crypto works against this. Basically, these reasons prevent the government from giving legitimacy.

These kind of scams is something which makes the governments ban cryptos because this is where majority of people will loose money and that dents the economy as this money can be invested elsewhere or maybe can even be used to develop the infrastructure of few specific countries.

Governments are actually threatened by cryptos because they are a great source of investment and people would prefer investing in cryptos rather than elsewhere which will drive the money our of local markets and invest into the international markets which are not even regulated so the governments will have no role in this and this will be a big no-no for the governs.

Crypto causes scams? As if scams weren't in existence before cryptocurrencies. We all know these are nothing but excuses; what they actually don't like is the decentralized nature of cryptocurrencies, especially Bitcoin. They know that if their people start using Bitcoin for storing their funds, and stop using banks as often as they do right now, they are slowly going to lose control over their finances and financial activities, and that's a big loss for them. Right now, if you have your money in the bank, they have all the rights to do whatever they want with your money, and they can even create some falsified story and hold your funds at will, can they do that if you have your funds in Bitcoin? No, they can't.

That is basically the biggest reason why countries and their governments are against cryptocurrencies, and central banks are having a hard time accepting the reality that cryptocurrencies are now everywhere, if you do a survey within your country, at least 5 out of 10 people who are educated and in-touch with technology would know about cryptocurrencies, this wasn't the case in the past, but now they know that cryptocurrencies are spreading like a fire in the forest, so they are doing their best to stop them, but they won't be able to do that. :)

LOL, how did you know that?  ;D (being sarcastic)
The above image is exactly the current situation in my country. Here Crypto is banned, but we are still using it, and aren't getting away with it, without any problems from the authority. Of course as long as you keep your head down, don't draw too much attention or create any noise from our  crypto earnings, you are good to go. No only that we have also suffered many crypto related scams (MLM) in the past (still happening), but the govt couldn't do anything signification to recover those laundered coins or reduce these from happening. They are well aware that the people uses it but doesn't take strict actions or turns blind eyes when its about crypto.

So yeah, the doors are closed but we can just use the windows to enter the home. :P

It is not something to hide anymore since we are all getting to see the privilege and the many opportunities that embracing Bitcoin has brought to us. The government cannot ban totally what it did not create. I am still sure that many countries that are facing ban on bitcoin still have their citizens still finding a way to still be part of the revolutionary financial technology. The government will continue to fight bitcoin all they want but they cannot put an end to it. The technology is not perfect but it is beyond what the government can temper with and stop it from existing.

Yeah, Bitcoin and crypto technology are not just a means of financial transactions they are a platform for freedom. If we watch behid that people cannot easily adopted new technologies and opportunities. Just like the Internet or smartphones they faced many obstacles at first yet they revolutionized society.
I think if governments try to completely shut down crypto they will not only harm new economic opportunities but also new innovations and the development of skills.

When a country bans crypto, the government's control system is weak, which is why it is forced to ban it because it cannot control it. Another important thing is that when the government thinks that the country's money is being laundered through crypto, the government wants to ban crypto by force. In my country, Bitcoin is banned under the Money Laundering Act of 1972, where the government has taken this decision in the larger economic interest of the country.

To keep up with the current global economy, we need to increase our reliance on crypto. In addition, many countries say that crypto destabilizes the economic system and new customers may face financial losses in its volatile market. To me, banning it means holding back new innovations and technologies because crypto is a secure and decentralized system. Many people think that illegal transactions can be easily done through crypto and people can easily launder dollars, but in reality, those who are interested in illegal transactions are continuing to transact without it. So I would say that banning crypto is harming the country's economy.

Cryptocurrency is still in its developmental stage  and not large enough to impact any country's economy. So, the ban on crypto at this stage will not cause as serious damage to the national economy as we think. China is an example, they have completely banned it since 2017 but look, is their economy backward or outdated? They are still the second largest economy and are still growing according to government expectations.
 

But if this ban is maintained indefinitely while cryptocurrencies mature and play a more important role in the global economy. That will certainly be detrimental to their economies if they do not change their policies to match the general global developments. But it all depends on how fast the crypto industry develops.

Eventually they will realize that banning crypto only puts a stop on their growth and development and will be leaving them behind. The government has to keep up with innovations if they want to grow as a country they just need to address the risks or concerns they are so afraid of.

People will do as they please.
Ban Crypto? How? Not all wallets are on phones. Not all people carry hardware wallets.
Is the controlling unit prepared to check everyone?

What they can control are companies.

Scams are also conducted via fiat payment system, so the excuse of banning crypto because people using it for scamming is a naive reason and not grounded properly.

A simply explanation that crypto is a financial freedom that revolutionalized the payment and investment system would protect a citizen than to plan or plot its downfall wont help, over the years crypto had done more good than harm and the country trying to ban it, is not ready to talk about that.

Instead, they trying to ban it because it hinders the profits they might have been gotten from their fiat operating offices and institution, they not trying to see the good side of using crypto.

At times when country government bans crypto, it’s not just all about protecting its economy, its  also about control. Since crypto operates independently and can’t be easily tracked, governments often see it as a threat to their financial systems.
In some cases, they genuinely worry about things like money laundering or illegal transactions, but instead of finding a way to regulate it properly, they just go for a full ban. It shows that the system is not actually strong enough to adapt to it at that particular moment. And to me, banning crypto doesn’t solve the problem in a state rather it only just pushes people to use it secretly.

I dont think a proper answer to this exists. It would depend on what you mean by hurting the economy. If a country is using bitcoin in good amount and the government decides to tax it if you dont want it getting banned, then they will derive a good fortune from the taxation because people would not want it getting banned.

Next in case of money laundering which happens with fiat as well, stopping anyone from accessing bitcoin will have literally no effect.

Banning bitcoin is not a completely possible thing to do as well. So its often more of a power move than actual ban.

When all the countries of the world are taking a positive view of crypto, if a country tries to ban it instead of supporting it, then it is easy to understand that they are keep themselves far behind. Currently, blockchain and crypto technology are progressing so much that it is best to adopt them. Those who quickly adopt crypto and blockchain will also be financially successful. If governments do not fear it and educate the general public of their country, especially the educated people of that country, then those countries will be able to understand the impact of blockchain and crypto and will be able to keep ahead in all aspects.

Why banned something that provide employment and hustle for people and the government can't provide the job for people. There is no business on earth that doesn't have it's downside, there are scammers at every business you can think of but because crypto seems to be a global investment that anyone can get into, it makes scammers comes from different direction, it's the way crypto isn't limited to any region for investment is the same scammers comes from every corner.

Instead of the government trying to ban them, it's better they work with some exchanges and some web3 platforms to provide safe service for their people. It's better for them to have a recognized exchanges in the country and allow their people to trade than chase business that could fetch them tax, revenue and many more opportunities than cancel everything, it doesn't make any sense. No sensible government cancel opportunities for its people.

Crypto, which is said to be the cause of fraud, is not entirely wrong, in my opinion, because most cryptocurrencies have unclear objectives.
Some cryptocurrencies are developed not for a clear purpose but to enrich those within the industry. Crypto is also an innovation born of modern technological advances. Choosing the wrong one can lead to scams.
To be clear, Bitcoin is the answer. Bitcoin is Bitcoin, and crypto are many different types.

If those countries that banned bitcoin invested in it since that time when the price was low, and now that the price is high, they would have made a good profit from the investment, and add the taxes they would have collected from the other investors, like CEX, their national economy would improve, or something would have been added to the economy. So I can say they hurt themselves.

Government banning cryptocurrency literally makes no sense,even before the invention of Bitcoin and other cryptocurrencies money laundering and scam has been in existence.But currently the hate on Bitcoin by government has reduced,when it was newly created many governments had this thought that bitcoin will replace the traditional banking system, initially that's not the purpose of it's creation.If I may ask in what way is the ban hurting a country's economy? bitcoin works on a decentralized network in other words the government can't stop it users from operating on the platform, it's left out for the enthusiasts to maintain a low-key standard while dealing with Bitcoin in those countries that have banned it

In real terms - the crypto industry supports the economic growth of a country, so a complete ban could actually affect it. Governments gain double benefits when they legalize crypto – including taxes from the crypto industry and economic growth for their citizens, who then receive more taxes from their financial transactions. When the economy improves - market demand increases, which contributes to economic growth. So imagine how bad thing it would be for a country to ban crypto entirely.

In my opinion, a long-term crypto ban is likely to be more detrimental. It's true that a ban can provide short-term protection against fraud, money laundering, and other threats. However, indirectly, in terms of a country's development, it can hinder digital innovation and hinder the potential for new economic growth in blockchain technology. Essentially, a country that bans crypto entirely will lose its global competitiveness in the digital economy. A more open and adaptive ecosystem will undoubtedly be preferred by investors, and citizens will access crypto informally, increasing vulnerabilities and reducing state control. Therefore, I believe a crypto ban is not a beneficial long-term solution. Currently, countries must create intelligent regulations that protect citizens without stifling the potential of the digital economy and innovation.

There is nothing wrong with national governments not investing in it when prices are low. Because as a national government, what they need to focus on is stability, not gambling, taking risks in search of uncertain high returns.

But banning its citizens from participating and investing in bitcoin was a mistake on their part. Because that will partly hinder the innovation and development of the national economy. So I agree with you and everyone that banning crypto only harms them and not benefits them.

Blanket bans are lazy policy, you are correct. However, the frame of provide employment lacks something important: not every economic activity is equally valuable. Crypto generates transaction volume which feels like economic activity when it often is not. Casinos do create jobs, technically, but you are not creating infrastructure or resource allocation issues

With that said, the government hypocrisy is a reality. They will prohibit crypto due to scam risk, but allow payday loan companies to exist with 400% APR to individuals unable to afford groceries. This selectivity demonstrates that it is control over monetary flow and prevention of capital flight

The exchange regulation path makes sense until you look at how it works out: Nigeria experimented with this, established an official exchange system, and then proceeded to prohibit P2P trading when people discovered ways to bypass it. Because the real threat is that crypto allows capital to be independent of borders, which scares any government that has used to control currency flow

Perhaps, capital flight should be limited in some countries whose economies are weak. Not due to the goodness of authoritarianism, but because free movement of capital can actually destabilize the economies of developing countries. This has a history of decades with the IMF. The alternative is not always between freedom and oppression. It is between various forms of economic survival strategies, none of which is perfect

Even if they ban cryptocurrency it wont still stop crime or reuduce crime. One of the ways to stop crimes is to create jobs and not to ban crypto. cryptocurrency have brought more opportunity than what more government could not even do. Those who want to ban cryptocurrency dont have understanding of what they should do at the first place. It will be better they focus more to work on the economy because digital currency such as bitcoin has been of good advantage to the people. Banning cryptocurrency will be of great lose to the people in this time that the level of inflattion is very high.

The main issue of regulation is the dispute concerning the inherent usefulness of the economic activity, especially the cryptocurrencies, the volatility of which can frequently exceed their advantages to the masses. In fact, a great deal of trading is not an indication of the sound economic growth. The disparities of the government in taking a dualist approach, intervening in digital property swiftly and intervening in lending habits of the poor only that hesitantly, is harshly illustrated by itself as a marker this is not the preservation of the poor that drives regulation, but the preservation of fiscal capacity.

That controlling state digital market can be readily bypassed by an individual in an official exchange only to resort to direct trading shows the inherent challenge in the control of decentralised digital flows. The awareness that the unregulated capital flight may be dangerous particularly to those nations whose economies are weak just like the bad experiences of the past with the idea of financial liberalisation offers valid grounds to policies that put national stability before any more freedom in capital flows.

The most important aspect is that cryptocurrency transactions cannot be controlled. Financial authorities cannot track the movement of funds. And this is incredibly infuriating for those at the helm of the country.

Hasn't cash been used for criminal purposes before? The question is rhetorical. The authorities have simply found a pretext to ban crypto. This is a new wave of freedom, and this cannot be allowed. The people must be subjugated and controlled.

You're right - but only if they transact peer to peer without involving any centralized platform. But if you transact on a centralized platform - then the government can track and control it. In fact - the government can only control users, but not crypto especially decentralized ones like bitcoin.

Governments don't want to lose control of financial transactions, so they'll always find ways to track them, regardless of the reason. They often claim these bans are intended to minimize national economic disruption, but I don't think that's a valid reason. Money laundering and other illegal transactions are also quite common using fiat - so it's not the currency itself that's at fault, but rather the perpetrators who misuse the currency.

The government does not want economic control without their knowledge because, from a political perspective, all systems must be under their control so that they can control everything.
I am trying to explain that what is meant by crypto is not the many coins or tokens that are available, but rather Bitcoin. Here, I am not saying that Bitcoin is the same as crypto.

You are right that all of this is just an excuse made up by those in power to maintain control over what they have built. So, when there is a better breakthrough than the system they have, they will find ways to prevent people from using it.
Sane people will use their logic when there is a ban on using something that does not belong to them. If it is not for the negative intentions of the perpetrators, then what else could it be?

I don't know but it depend on how dip that country economy must have been with crypto before the ban must have affected them. Let's used China as a case study, I still remembered the refreshly ban of Bitcoin and Bitcoin activities in China back in 2021, all mining operations were forcedly stop. There was a time some mining farms were raided, this affected the market badly because Chinese communities remains one of the biggest place where Bitcoin acceptance started but does the banned affect their economic?

Now, let's come back to El Salvador where Bitcoin and crypto are free service and legal tender, they have reserve where Bitcoin is kept and right now, that amount of money is coming close to $1B, if they wake up tomorrow and decide to ban Bitcoin which is unlikely but you never can tell, it's going to affect their economy because they heavily invested money in Bitcoin, that's public funds we are taking about. If there is a change in government tomorrow and they decide to dump their Bitcoin, it's going to have a down turn on their economy.

Banning the crypto or making it harder for the people to access is hurting the economy and the users as well. For example in India there is 30% taxation and now government is restricting every crypto casino and exchange that is not following the guidelines proposed by the government which seriously hinders the available option and people will find a way to bypass from this situation for tax and to access the better crypto platforms which may not follow the guidelines yet so it is loss of revenue for the government.

As crypto enthusiasts, we don't want crypto by the government. How do you feel banning crypto would help the economy? No crypto means there won't be any impact on the economy from cryptocurrency. But to me, if you ban crypto, then you are further back than whoever is allowing Bitcoin for their economy. Rather, crypto helps the economy to grow it. Because Bitcoin is a potential cryptocurrency that has just been moving forward. So at the same time, economies move together.

It doesn't make sense to ban crypto to protect citizens. Because crypto isn't something that could be stopped by the government. The ban is just limited to the paperwork. No one can prevent crypto transactions at all. So if any citizen wants to use crypto, they still can access it. Just the government will lose the tax. When the government loses a lot of tax, it means it won't be better for the economy.

Even if the government of a country decide to ban crypto, still there are some set of people who would want to go behind thier back to continue with thier routine buying. So I don't get bordered whenever I heard issues regarding the government planning to ban crypto in a country, the restriction can only be for a particular set of people especially those  that like making thier purchase through bitcoin ATM as they will seize the machine or shut it down so that it will no longer be available. But as for those who are making thier purchase online is 100% free because they can stay in thier comfort zone to make thier purchase and no one will find out.

Of course hurting. Crypto is a way to make money, not by just investing or trading, but also earning. Which means if you can allow bitcoin to be used, then workers in your nation could work for other nations and make money and bring bitcoin back to your country and make money from that.

It is such a clear situation that we are making a ton of money from this and could end up with so much profit from this as a nation. So, it should not be banned and the best path forward would be just acknowledge it and let it be legal to be used. Doesn't mean you have to accept it as legal tender, that would be a lot, but at least make it official that it is being used and that should not be something that is too hard to accept.

In all spheres of investment assets the investors morale to be confident in the environment with a feeling of trust and safety of their investment from market manipulation actors is inclined towards government involvement through the regulation measures and this improves government revenue through the income tax investors has to pay from what they profit in asset. And the more the investors the more revenue is accrued to the government, any astute government would know this and choose to regulate rather than ban.

Governments around the world are also furious because they can't control these cash flows, nor can they issue them. But that's a completely different story. How can you govern people when you can't control the money? This poses a danger to those in power. With the advent of crypto, this situation is further exacerbated. Those in power have realized this and have imposed a strict ban on the use of crypto as a payment and settlement method. But this doesn't help. Those who want to pay this way will do so, despite the strict laws.

Why, even before Bitcoin or cryptocurrency was created, were there no scams happening in all countries? Many scams were already emerging even back then, which means scammers
have many ways to use different reasons to scam their victims.

What is the ultimate bottom line for why there are scammers? Isn't money the reason? Scammers simply saw an opportunity to scam because many community investors
are fascinated by Bitcoin or cryptocurrency, so they used it as a way to scam people. Wherever there is an opportunity, that's what scammers utilize.

When more countries adopt and legalize cryptocurrency, while some tighten their regulations or outright ban it, it means they aren't truly protecting their citizens. They simply want to maintain control over their citizens' finances and prevent cryptocurrency from becoming a threat to established banks and their financial systems. If they truly care about their citizens, they should create clear and fair regulations so their citizens can continue using cryptocurrency. But instead, if they further restrict cryptocurrency use, it only indicates they are prioritizing their own interests and don't want more people using it.

I agree, whether banning cryptocurrencies will hurt or help a country's economy will depend on the health and size of that economy. China is proof of that, they banned bitcoin for years but they are still very strong.

Additionally, although El Salvador is making significant profits from its bitcoin investment. But I don't think early adoption of crypto will help them much either. Their economy is still on the brink of bankruptcy after 4 years of adopting bitcoin and crypto. They are not getting any better than many people think.

It can be said that Bhutan is the only country that has benefited from the adoption of bitcoin. But it's a combination of cheap electricity and bitcoin mining, and not every country has that advantage.

The answer depends on how and why a country would want to ban crypto. But actually they do have advantages and disadvantages to a country.

For example, protecting citizens from scams and volatility. Many country are aware of how volatile the crypto market can be, how its filled with fraud etc, so they do ban and thinking it might also be of help to prevent losses from unexperienced investors. Some countries ban crypto because it weakens thier national currency and fully afraid as they don't have control or ownership to it.

The disadvantages are so grievous for one to even mention, if crypto is banned from a country it reduces technology growth, crypto brings about interest between two countries and if being banned can drive away foreign investors from other countries. Crypto and other mining operations creates self income for an individual reducing the rate of poverty.

To crown it all, I suggest regulation instead of total ban, looking at countries like the U.S, UAE, UK and so on regulate and pay close watch on crypto and don't see ban as an option, this way can reduce the risk.

If you talk about a crypto ban, the impact of a crypto ban on a country can be both.
• Impact of potential economic losses for the country from the crypto ban.
1. We know that so far the largest country generates taxes from crypto. If a ban occurs, it is clear that the economic turnover from taxation will be lost.
2. The state understands that investors are the spearhead for the country in innovation and investment, including technological development, meaning that banning crypto is the same as driving away investors, clearly the impact of the country being losses and many other things that can harm the country from an economic perspective.
• Impact of potential economic benefits for the country from the crypto ban policy.
1. Prohibition can increase the country's financial stability and can limit the criminal risk of money laundering and terrorist financing, clearly in such situations it can protect the public.

So, that is my understanding that a crypto ban can be detrimental to the country and beneficial to the country.

And what the government should understand is that even if they should ban ot people will still find there way around because there ways that a lot of things are going to go about it, and people are no longer concerned about what the government thinks intact people are hoping they don't legalize it because if the government should legalize they will have more opportunity to want to tax it, and because of tax sole people have left there countries because of tax because the government go ahead taxing almost 30% for what exactly.

And it will be good to make proper enquiry before setting up does machines and if it's for personal na use like in a grocery store, I don't think the government have anything better to do because I choose what payment method to accept in my store, sometimes I think what the government is doing is very unnecessary because what's really there problem with crypto currency.

Bitcoin isn't getting in the way of anything so banning crypto as a whole isn't going to help normalize the scams and fraudulent acts in the country, it could even get worse but deep down the reasons for the scam and financial instability isn't as a result of crypto existence and taking such drastic actions has posed fear and rejection of which it's not going to help the country and citizens already involved.

The question you ask yourself is how does crypto currency affect the economic performance of a country .any country claiming that crypto currency is the reason why there's economic problems in their country is lieing and is not saying the truth as far as am concerned because, the economic performance of any country is directly proportional to the policies and environment that any government takes to make sure that their country have a good economy.



Crypto is one good way that government can even partner to have a good economy, Bitcoin has offered recent been of interest of many countries because governments which are progressive and forsighted enough has seen the potential that crypto currency has like Bitcoin that is why they are investing into it.

That is what a dictatorship does. If you weaken the power of their fiat by using crypto, they will react to it and act as if you have done something terrible. But in reality we are not doing something bad, we are doing something normal by wanting more. It is not that complicated to get the best from this, it is totally normal to react the way we do by wanting something better and considering fiats are usually terrible (unless you are Swiss or something) then you are going to end up with better returns from bitcoin.

So wanting better returns means you are taking control over your own money and any dictatorship that loses that control will go mad with power lust and will ban it. So if you are living in a nation that bans bitcoin, know that you are in a dictatorship, or a dictator wannabe is running it.

Who is it going to affect if the government ban crypto? It will be the politicians and government workers.
Anybody can bypass the ban and buy Bitcoin from p2p market and the government will not know. I pity the government if they decide to ban Bitcoin when other nations are creating reserves to hold Bitcoin because of it potentials. The government will benefit more from holding Bitcoin and that can make the country to create jobs for people and make money through taxation. Live is hold with Bitcoin and nothing more.

Are investing in stocks and various securities risk-free? How many people have suffered as a result? A huge number. Therefore, cryptocurrency is not a high-risk instrument. This is entirely the fault of those who chose to speculate rather than use it for its intended purpose. And so what if the exchange rate fluctuates? The exchange rate is still the current one. If I need to send funds abroad, I make the exchange, and the final beneficiary receives practically the same amount as they originally received. So there's no need to speculate.

This question got me laughing, first  and foremost when you said crypto, it means every digital currency which Bitcoin, Ethereum, Biance etc are not exempted. I see such government lacking behind technological developments, because by the time they will realize their mistake many nations that have taken opportunity will leave them behind. Many government claim they protect it citizens by running into conclusion of a thing with poor analysis and policy as result of the leaders levels of articulation, resulting to regret where they blame past government for mistake. If development like that if crypto exist what a caring government need is to profer solution to safeguard it's citizens while seeking possible means of utilizing such opportunity.

It's correct that scam exist in crypto, but scam exist even outside crypto for scam excuse to leads a government of total ban, it shows the government not ready to diversify in development because certain innovation will hardly thrive, thereby hunting the development of such nation or society.i think any government that happens to fail in providing good policy to crypto even if scam exist and see how the good part can be beneficial to it's citizens is directly and indirect killing the economy of it's nation.

You're oversimplifying the micro- and macroeconomic constellations. Human thinking is often about maximizing profits, getting things done as quickly as possible, and ensuring my safety, or more broadly, ensuring my family's safety. I'm also a pro-Bitcoin advocate, but I'm not blind to the country's difficulties in realizing the aspirations of pro-Bitcoin citizens (with the simple demand that pro-Bitcoin voices be accommodated). Talking about the state is about sovereignty, while the pure spirit of Bitcoin is freedom.

In policymaking, there must be calculations, then categorizing the damage effects as low, medium, or high. Using crypto as a means of payment. They calculate the estimated nominal tax losses, bank deposit outflows, and consumer losses due to volatility. They then compare these with the direct benefits gained, such as (remittance savings + new revenue from the crypto sector). They then conclude that remittance recipients do indeed benefit, but the magnitude of the benefits is relatively small compared to the potential for fiscal leakage and deposit outflow. The crypto sector (exchanges, custody, infrastructure) generates significant new revenue, but most of these profits can flow to global actors/technology companies (not always domestic). Banks and the tax sector are the ones most at risk of harm. Public deposits could shift to crypto assets (reducing banks' ability to provide credit), and tax revenues would decrease if transactions moved to under-reported areas. (Note: I'm not a pro-bank or pro-tax person.)

From my perspective, if crypto is legalized as a means of payment, the state would lose monetary and fiscal control, leaving it vulnerable to external intervention. The old bank and financial system would collapse, creating short-term economic chaos. The global elite could exploit this chaos to introduce a new, more controlled system (a global CBDC). The public would become the subject of a global digital experiment, where the illusion of financial freedom would transform into total, data-driven control. National economic policymakers believe that crypto legalization is not the end of the money war, but rather the beginning of a new chapter in the battle between people's financial freedom and global digital centralization. In other words, there is no benefit to the real economy of the country or its citizens.

That doesn't mean that you have to hurt it. Nobody says you should be like El Salvador, but you can be like USA. Just let it be and let it be used while also keeping regulations. There is nothing wrong with keeping track of it like other currencies. You know that you are being followed whenever you use money digitally, could be wire transfer could be card payment, could be any online, you know government has access to that.

But when it's bitcoin, we want freedom and and privacy, while sharing our food on instagram. Just make it regulated and let government see your address, and I guarantee you, nobody will care eventually. Privacy may feel important, but it is not as important as we think as an idea, because we already sold our privacy when social media became popular.