Why bitcoin is not supported in some countries?

[adriaymati58]

Each country has its own policy and some governments are afraid to accept something that can not be traceable so they are against bitcoin 

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[george888055]

Indian Bank BTCXIndia was the first btc exchange built in India. While following KYC and AML guidelines, and allowing instant Indian rupee deposits and withdrawals, BTCXIndia was forced to close by their bank, which no longer services btc businesses

[lucy94]

Most of the countries just want taxes and regulations for bitcoin trading, to make sure that people don’t use it for illegal purposes. Otherwise, the general consensus is that bitcoin is illegal if its used for legal purposes. If I am not mistaken, only Venezuela has banned its citizens to use cryptocurrencies, so that they promote their own governmentally controlled oil-backed cryptocurrency called Petro (which sounds a bit like a nonsense).

[saumang2m]

Yes, some countries do not support Bitcoin because every country has its rules and laws. And in some countries Bitcoin is banned. And some countries have accepted Bitcoin. People in those countries use Bitcoin. In many countries, Bitcoin ATM has also started. Those who have been able to make money transfer bank ATM via Bitcoin ATM. There are only a few countries that celebrate Bitcoin illegally. Because the Bitcoin platform seems to be an illegal platform for the government of those countries. And they think that using this platform can lead to black money in their country, so that they Damage can happen.

[aoebtc01]

A cryptocurrency is valueal than any paper money. How is legal and government accept it? Just like kidding the economic 

[ace4549]

Unfortunately it is a yes, that some people are not supporting bitcoin because they not velieve in the principles and legacy of the company and they consider the manual or traditional basis in all kinds of transactions.

[Keeminakar]

Most likely, the state has more questions on regulation and taxation of bitcoin. All seek to control it at least for their country.

[Glutius]

Bitcoin is unstable, perhaps that's why States are afraid to accept it. Or it's just a matter of control, as bitcoin assumes decentralization and independence from the government.

[DimensionsOfHell]

Many countries are afraid of bitcoin, this is because bitcoin can not be controlled so it can be used for speculators to play price, this is what makes many countries not supported bitcoin.

[dgross0818]

I think banks have a great deal to do with it because you know Bitcoin was created for us , to help people and yes you work but you work from home and you work for yourself and normally they don't agree with this, given that Bitcoin is considered an enemy of the economy of some countries.

[Baronggot]

That's because bitcoin is not really for everyone and it's contrary to what other say that bitcoin is the currency for the people. These countries has its own governing policy and beliefs that bitcoin and the cryptos can somehow affect the their economic status negatively.

[Jimbo Abu]

Most of the countries just want taxes and regulations for bitcoin trading, to make sure that people don’t use it for illegal purposes. Otherwise, the general consensus is that bitcoin is illegal if its used for legal purposes. If I am not mistaken, only Venezuela has banned its citizens to use cryptocurrencies, so that they promote their own governmentally controlled oil-backed cryptocurrency called Petro (which sounds a bit like a nonsense).

I agree, the government afraid to use their people the cryptocurrency because they afraid to use it in illegal way or use it against them. And the government cannot controlled it.

[troglobait]

I think there are a number of reasons. They are afraid that people will launder money, they are afraid of corruption schemes. And the criminal turnover of money. And of course the uncontrolled turnover

[EfterlysT]

I think banks have a great deal to do with it because you know Bitcoin was created for us , to help people and yes you work but you work from home and you work for yourself and normally they don't agree with this, given that Bitcoin is considered an enemy of the economy of some countries.

[WebTera]

Bitcoin is a new, not yet proven invention and not all States are ready to risk and implement it on their territory. We just have to hope that things will change over time.

[RuslanSamui]

Hello everyone, I myself come from Russia, our government is afraid that people will withdraw money from the country through crypto-currencies!

[fattyforhire]

Since bitcoin is decentralized, it carries a number of problems for the state that will decide to accept it. And then the government chooses to try to accept it, or simply ban it.

[reyzel27]

each country has rules and laws, respectively. there is a consideration that is certainly very important. They are afraid that people on a certain country will fully switch to bitcoin and with that thing happen problem will arise regarding on implementing tax and thats the time the government will have a very big problem because most people do already have the control on their money unlike on banks which is regulated by the government.

[2Godbdglory]

Since bitcoin is not generally accepted  because some countries go against it.  Therefore it cannot strive in those countries.  Taxes is not generated  from it,  government not making money from it neither bank not making money from it

[sarafrancipoli]

maybe some country looks bitcoin like criminal , scam , MLM etc so goverment prohibit it