Why bitcoin is not supported in some countries?

[Beymax08]

Maybe because they taught that bitcoin is some kind of money laudering. And the government of all countries think that bitcoin is only a scam. They are afraid that there are so many will invest in bitcoin and if it will happened that bitcoin is a scam no one will be punished because no one hold bitcoin.

[achsan fauzy]

some countries do not support against bitcoin because a lot of grafters who do the money laundering through bitcoin.

[Gregoryxl]

If it is not valid in some countries or its circulation is not legal, everything is because it would not be governed by the tax payments that real currencies are subject to, since there are virtual taxes that should not be paid and this does not apply to the laws governmental.

[vinz7229]

some countries do not support against bitcoin because a lot of grafters who do the money laundering through bitcoin.

That's true! And maybe because, Bitcoin is not own by anybody, it's a virtual currency so you can't print, hold or whatever, that's why some countries doesn't support Bitcoin cause their just protecting their country men to save whatever wealth they have. Another is Bitcoin doesn't have stable price so it is very risky to invest your funds, so if your not knowledgeable enough then much better if you invest your money which regulated by the government.

[spiritguardcharles]

Based on what i've read on some articles and any related information and issues about bitcoin in other countries, there's no assurance for the buyer's protection and even worse is that the government believes that it will be advantageous for unknown individuals to execute such illegal transaction since it's not monitored by the government because it's an decentralized currency.We might consider it as a money but it can't be classified as a legal currency in other country.As an overall conclusion, one of the reasons for not supporting bitcoin is it's untrackable and the money that you may lost is unrecoverable.Moreover,even if some people used it in a good way,the government won't consider the fact that it can be used illegaly.

[xiaohao111]

Because not every country recognizes bitcoin.
Many countries ban bitcoin transactions.
Think bitcoin is a scam.

[russella31]

I don't think bitcoin is not supported in some countries. Maybe some countries don't know bitcoin yet or it's not yet popular. But as for banning bitcoin, I don't think so.

[xiaopang11]

Not all countries are friendly to bitcoin.
In some countries bitcoin is prohibited.
It is illegal to trade bitcoin.

[nightfury]

Bitcoin is not supported in some countries because they think that it can hurt their economic growth since bitcoin is autonomous that government can't intervene on bitcoin transactions. Aside from that, bitcoin can also pose threat to a countries security if they allow it since it can be use to fund/pay criminals to do bad things without being traced.

[laowang666]

Because bitcoin is anonymous.
It's global.
The government can't control it
So it's forbidden to trade bitcoin.

[kalph22]

Its all because of.. they can't traced any transactions in Bitcoin. Their government can't interfere any transactions that their peoples doing, they don't know if someone in their country using Bitcoin in illegal ways, Like.. they use Bitcoin as a way of paying or buying drugs, or any other illegal work that they do using Bitcoin.

[kariky_123]

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 

[Lago_V]

In their official statement, the National Bank of Ukraine said that the status of cryptocurrencies, including bitcoin, is not determined on a global level. In different countries, it is perceived as a cryptocurrency, or non-material good, or money surrogate. They also don't recommend Ukrainians to buy Bitcoin for long-term investment purposes. Because the legal status is not regulated, exchanges are not clear, and volatility is too high. However, they are researching the topic of creating e-Hryvnia - a digital national currency built on blockchain technology.

[armandoz]

May be because the goverment has no profitt to bitcoin no tax and even the bank against bitcoin. and the goverment not incourage the people to be member they say bicoin has no asurance in investment. and bank becaome weak because instead the people invest in bank they invest in bitcoin. so the people devided some invest in bitcoin and the other invest bitcoin and other invest both. but i heard that there is bank if they know that you money come from bitcoin they will demanded to withdraw or close.in the bank.

[josephpogi]

Bitcoin is not supported or worse illegalized in some countries due to an ubderlying cause. It is very hard to impossible to tax it along with its users, therefore the government does not profit to it. And the fear of the national currency being obsolete because of the ubiquity of use of the said digital currency is also a reason that they have been thinking of.

[Ziomuro27]

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

It is not supported to other country, because some people are using it for illegal, like what I read on the internet and also see here of the opinion of other users that it Bitcoin use for crimes, terrorism, moreover I think it affects it's country, in economic problem such as unbalance finances, because of increasing of bitcoin, Bitcoin is getting popular which other people use to buy illegal drugs like what I told earlier some people are use it for crimes which is not right.

[Ravion]

For me, I think it is because bitcoin users are unknown, unless they tell themselves. And because of that, government will find it hard to let bitcoin users pay for their taxes, unless they are honest enough. Aside from honesty, I could not find ways on how to determine how much a person own crypto currencies.

Well, yes. Bitcoin users are unknown, unless they tell themselves. Bitcoins are unknown because Bitcoin is anonymous. It is anonymous because a bitcoin user can tranfer and transport a lot of money in just some clicks. It also cause Money Laundering. Bitcoin is not controlled by the government, so that, bitcoin don't pay taxes in every transactions and it is running in the world with anonymity. That's why bitcoin is not supported in some countries.

Governments can still impose taxes on crypto by their gateways. But what really bothers them are possible money laundering. Bitcoin is already popular in deep web which is of course not cool on governments. Terrorism and countries like North Korea are also possibilities why these countries will never tolerate and as much as possible will try to control this technology.

They can impose all the taxes they want, the thing that really bothers them is they cannot take your bitcoin at will, governments and banks are together in this, that is why governments are fine with banks since they can ask banks to freeze any account and they do it, but when it comes to bitcoin that is impossible and they resent bitcoin because of that.

Most countries don't support it because, for them, Bitcoin is something that is competing with their own government-issued fiat money. And any money that is being invested into Bitcoin is money that is not getting invested in government bonds or that country's stock market. Which government would want that? Additionally, it's hard to track and hard to tax. Most countries would want to completely ban it, but can't do so because it would mean violating individual rights. So all they're going for now is adding more regulations and warning potential investors about the price volatility,

There are countries that have special tax benefits for buying and selling Bitcoin. Countries like Germany, Denmark, Belarus, and Slovenia all have tax exemptions depending on the amounts being traded and for how long the amounts have been owned.

In China, it is illegal for any bank or company to be trading Bitcoins but it is legal for individuals to trade among themselves. Many countries in South America have completely banned it. These are usually countries where the government wants to control all monetary transactions very tightly. One of the countries is Venezuela. Equador has banned the use of Bitcoin and all other cryptocurrencies with a vote in their parliament. They are working on their own national crypto money and don't want Bitcoin competing with it.
I think, right now, the only country that is officially accepting it as a legitimate form of payment is Japan.

[rabs]

Because its government frightened that it will have negative impact on economy but being optimist Bitcoin have positive impact on economy and good indicator for economy.Government do not allow Bitcoin because its complicated tracing system of transaction that any illegal transaction can happen but if government support it can be minimized and play good role for economy.

[handsomes]

I think the government can not receive taxes to transaction and not supported because the anonymously give easy money to people who want huge salary and the economy is a good impact from it.

[Joyceshiroor]

Bitcoin is not supported due to many reasons because it can cause online frauds. The government won't be able to recieve any taxes related to it. It is also considered as gambling so many countries are imposing bann on bitcoins.