Why do some government ban bitcoin?

[Amisagor]

The government of every country thinks they will lose huge revenue if they support the Bitcoin. Moreover, there is no control over Bitcoin because of which terrorist activity may increase. I think. Both of these reasons are the most effective.

[Elerntta]

China often something prohibited in relation to cryptocurrencies. This does not mean that the state intends to act seriously. Most often it is just the work of the media.

[Mentari78]

I think the government is worried about Bitcoin, because if cryptocurrency is widely adopted, then the entire banking system can become irrelevant, bitcoin can also be a virtual crime, because its untraceable financial transactions facilitate crimes such as Drugs, Money Laundering, Terrorism, and other illegal activities.

[patykuprova]

I think the government is worried about Bitcoin, because if cryptocurrency is widely adopted, then the entire banking system can become irrelevant, bitcoin can also be a virtual crime, because its untraceable financial transactions facilitate crimes such as Drugs, Money Laundering, Terrorism, and other illegal activities.

They do have the basis to worried about it because according to the reports from banks and bankers. Bitcoin is represented for a freedom financial which mean the price is totally controlled by the market and noone can do anything about it, the system is totally controlled by a blockchain which mean there will be no cheats, no corruptions.

[rameshrajan1000]

The bitcoin transaction is very secret and secure. The government is unable to monitor and control it. Some governments prohibit it because it can easily assist the transaction of crime network.

[Cryptoreflector_666]

China-based cryptocurrency exchange BTCC suspended all domestic trading in yuan last weekend. The decision came on the heels of a September 5 statement from regulatory authorities in China, which required all domestic cryptocurrency exchanges publish closing announcements, stop registering new users, and establish a schedule to cease yuan-denominated trading by September 15. Huobi and OKCoin — two other exchanges based in China — have announced similar plans to stop trading. To be clear: China has not banned the use of cryptocurrencies. It has banned cryptocurrency exchanges and initial coin offerings (ICOs). Even still, it has prompted some to consider whether a government might ban cryptocurrencies like bitcoin — and, perhaps more importantly, whether such a ban would be effective

Such prohibitions (let's say a similar story with telegrams) only actively develop the sphere of personal security on the Internet, as programmers are finding more and more ways to bypass these locks. The blockchain system can not be banned in principle in the light of its decentralization, but official enterprises will be very difficult to accept payments if the ban does come into force. It is sad, but I hope humanity will still go in the direction of personal freedoms.

[gantengmaksimal2017]

China-based cryptocurrency exchange BTCC suspended all domestic trading in yuan last weekend. The decision came on the heels of a September 5 statement from regulatory authorities in China, which required all domestic cryptocurrency exchanges publish closing announcements, stop registering new users, and establish a schedule to cease yuan-denominated trading by September 15. Huobi and OKCoin — two other exchanges based in China — have announced similar plans to stop trading. To be clear: China has not banned the use of cryptocurrencies. It has banned cryptocurrency exchanges and initial coin offerings (ICOs). Even still, it has prompted some to consider whether a government might ban cryptocurrencies like bitcoin — and, perhaps more importantly, whether such a ban would be effective

good question. I want to answer your question. in my opinion, why some government banned Cryptocurrency? because cryptocurrency dont have organisation or something who handle full of cryptocurrency, so maybe the government scare if group of teroris use cryptocurrency for the fund.