Why bitcoin is not supported in some countries?

[13abyknight]

In my country (India), initially BTC users would be jailed and eventually released. Currently, India has no stance on Bitcoin i.e it is deemed neither legal nor illegal. With all the corruption and black money laundering being exposed in the recent years, I don't think Bitcoin will be fully welcomed in my country because there is still that doubt it could be a big contributing factor to allow stashing black money again without being traced.

[calandra78]

Bitcoin is not supported in all the countries because it has some policies regarding using bitcoins.because some people were using bitcoins for money laundering and drugs .well i have not got any information about this till now .

Maybe some country bitcoin is simply the virtual currency of the intangible, anonymous only, only in some countries feared the transaction could serve as a bitcoin embezzlement of money or money laundering and semacan it. with our trade with bitcoin we need not pay tax can even be made into illegal trade or illegal payments from a country to the next. but I also do not know much about it.

[Anwar22]

In fact, Bitcoin is legally supported in only a few countries. It is forbidden in all other countries.

[Kevondo]

Some countries dont adopt bitcoin because they feel uncomfortable using it. The decentralized thing is one of the main reasons that they allow it to be used by public because they don't have the control over it or they have no laws that regulates it. Some other reasons it could be a device for money laundering.

bitcoin is being use in a lot of countries but you are right bitcoin is not comfortable for everyone some people are not so much good at earning through bitcoin so that they find it so difficult but if they will learn good process of using bitcoin and they will know the benefits of the bitcoin then they will accept bitcoin as a legal currency and soon bitcoin will be a worldwide currency they just need to take control over it and learn easy process for bitcoin.

[harimauagam]

The government is worried there will be no liability for money if bitcoins are allowed. So, some countries will not agree.

[stompix]

In my country (India), initially BTC users would be jailed and eventually released. Currently, India has no stance on Bitcoin i.e it is deemed neither legal nor illegal. With all the corruption and black money laundering being exposed in the recent years, I don't think Bitcoin will be fully welcomed in my country because there is still that doubt it could be a big contributing factor to allow stashing black money again without being traced.

Jailed for what?
Money laundering? You can't get released on those charges overnight.

I doubt that somebody spent time in jail because of bitcoin ALONE.
Just buy being bitcoin owners and not by getting involved in financial transactions.

[PacePay]

Their country decided not to support it and so it goes, we don't know what they had in mind

Sometimes I think that the reason why some countries have made bitcoins illegal because government can’t own them. Bitcoins benefit the ordinary man, not the big crocodiles who want to control each and everything of a state. But I am sure that soon whole world is going to accept bitcoins as a legal currency.

[Cazkys]

Many different reasons. Some countries just legalize it and is considered against their anti-money laundering laws some countries just bans it because it’s a crime without any specific reasons. But some countries may have legit reasons why. For example, Bitcoin is banned in Bolivia because the country has their own mojo going on or some shit. I heard cryptocurrencies and decentralized digital money are banned there because they already have state run digital currency that can be used by anyone to make payments and such.  Some countries do not necessarily support Bitcoin but they don’t regulate it either so people can use it freely. Some have regulated and included as taxable asset like in the USofA and Israel.

[Kronos21]

Their country decided not to support it and so it goes, we don't know what they had in mind

Sometimes I think that the reason why some countries have made bitcoins illegal because government can’t own them. Bitcoins benefit the ordinary man, not the big crocodiles who want to control each and everything of a state. But I am sure that soon whole world is going to accept bitcoins as a legal currency.

Are you sure you want this? Why do you need it? That you are now not satisfied? I think in order to want change need to have a reason. Most people still don't trust bitcoin and therefore want recognition by governments. They will not guarantee you safety. They will only charge you taxes.

[SISA]

Still, many countries treating Bitcoin as illegal currency but people of those countries are still using Bitcoins for the benefits. Just like me in my country, it is not legalized but still, I am using it for my future investment returns on it.

[imoet]

I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me

They dont support bitcoin because they saw that its a threat to them on their governance and also they already knew that bitcoin cant be controlled and impose tax on it and afraid that taxation would be really be affected and also crime rate would increase because of bitcoin because it might increase the hidden transactions on doing illegal things and this is only the thing i know but overall bitcoin is really useful if you dont use it on bad thing.

i agree....those countries have many reasons too...they have their own rules and policy about something that connected with economy activities...but in my country..many people using bitcoin and they love it 

[Cuteako]

Some countries the Transaction by bitcoin is highly anonymous so bitcoin can become a tool for crimes like money laundering, drug trafficking, tax evasion, illegal payment,” the central bank said in a statement

[Webetcoins]

Many different reasons. Some countries just legalize it and is considered against their anti-money laundering laws some countries just bans it because it’s a crime without any specific reasons. But some countries may have legit reasons why. For example, Bitcoin is banned in Bolivia because the country has their own mojo going on or some shit. I heard cryptocurrencies and decentralized digital money are banned there because they already have state run digital currency that can be used by anyone to make payments and such.  Some countries do not necessarily support Bitcoin but they don’t regulate it either so people can use it freely. Some have regulated and included as taxable asset like in the USofA and Israel.

I will utterly agree with you in this regard. The reasons you have enumerated are absolutely valid and logical. All states have their own reasons for not supporting bitcoins. Mostly the states that do not want to lose their control over their public, they are against bitcoins. Moreover the states fear bitcoins as currency of crimes. They are afraid of its decentralized nature. This topic is vast. Talking about some particular state would be better and easy.

[Carlsen]

Many different reasons. Some countries just legalize it and is considered against their anti-money laundering laws some countries just bans it because it’s a crime without any specific reasons. But some countries may have legit reasons why. For example, Bitcoin is banned in Bolivia because the country has their own mojo going on or some shit. I heard cryptocurrencies and decentralized digital money are banned there because they already have state run digital currency that can be used by anyone to make payments and such.  Some countries do not necessarily support Bitcoin but they don’t regulate it either so people can use it freely. Some have regulated and included as taxable asset like in the USofA and Israel.

I will utterly agree with you in this regard. The reasons you have enumerated are absolutely valid and logical. All states have their own reasons for not supporting bitcoins. Mostly the states that do not want to lose their control over their public, they are against bitcoins. Moreover the states fear bitcoins as currency of crimes. They are afraid of its decentralized nature. This topic is vast. Talking about some particular state would be better and easy.

I think that the measures taken by the governments strongly depend on what experiences they have made with crypto currencies.
If avoiding taxes and laundering money really is a problem in a society, then it is not surprising if the state does everything in its power to make it difficult for people to deal with bitcoin when its widely used for that purpose.
After all it's the job of a government to keep a society together.

[bakkang]

I think because they are not interested or they don't have been oriented with what are the benefits of bitcoin to the life of every individual. If they are interested they can support bitcoin no matter what no matter how risky it is. And of course there should be an orientation regarding bitcoin so that they will be attracted.

[Altero]

I think because they are not interested or they don't have been oriented with what are the benefits of bitcoin to the life of every individual. If they are interested they can support bitcoin no matter what no matter how risky it is. And of course there should be an orientation regarding bitcoin so that they will be attracted.

Aside from they don't have interest is that their looking also the capabilities of the communities, banks and establishment  to handled online transactions. Because some countries they don't have strong or stable internet connections and therefore their knowledge also about bitcoin is limited. That's why they prefer to used their local currencies for all transactions they made.

[Wa(t)ch_night()]

I think many countries are still afraid of modern digital currencies or do not know how to use them correctly, but in a few years the situation may change when they see that it is simply necessary for the country.

[nexus99]

Bitcoins have no regulatory framework, which makes governments afraid. The anonymity of transactions makes btc easy to use for illegal purposes. This is a serious threat to government authority, so they are going crazy because of it and start banning everything

[Capradina]

Some countries the Transaction by bitcoin is highly anonymous so bitcoin can become a tool for crimes like money laundering, drug trafficking, tax evasion, illegal payment,” the central bank said in a statement

It's true, bitcoin has weaknesses in their transparency and also anonymous. the system will certainly be used by criminals in committing illegal transactions, because the Government cannot conduct surveillance and prevention. But that all is not a problem for us, but I'm sure it's all in the future can be fix. Because it will not be possible all countries let all this happen, for sure it will also provide a threat to the security of a country.
 

[ramsdaj28]

I think, they have reasons if why they don't allowed or support btc in some countries. First thing is that they are fighting against illegal transactions like deep web transactions where people use bitcoins as payment. Second, they don't want that their local money be overtaken by bitcoins esp. that its value is rising like a rocket. Lastly, they might not have enough support in terms of internet connections or the likes to run such operations regarding bitcoins.