Why bitcoin is not supported in some countries?

[Friskaadew]

Maybe the reasons why some countries not supported bitcoin because of less paying taxes, economy will might slow. Anyway, government has some rules to follow thats why they will not giving their support into bitcoin.

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[m9shn9sh]

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

[brotherwood12]

a country need to research before accepct bitcoin , and will compare about good and bad thing about it then decide to acc or not

[aircrusan]

I think that some countries are simply afraid of the strength of the crypto currency. Everyone understands perfectly what can ensure the use of crypto currency. But, I think, sooner or later each state will have its own national currency

[U20]

every country is different. management style, economic structure, and legal rules. so the way they look at BitCoin is also different. the main reason for the ban can be perceived as technological backwardness or threat/afraid of bitcoin.

[farukahmed]

Their countries , their laws.  It really depends on your definition for not supported too . If we speak about banning then as far as I know I don't think there is a country that actually banned bitcoin , at least nothing official and If there is then Its related to the banking system with one way or another . If its about the lack of usability in ATMs , local shops then there are plenty of countries and It takes time as some countries have more priorities .

Bitcoin is not supported in some country cause their government doesn't like the fact bitcoin is decentralized currency. Also bitcoin transactions are anonymous so it's another reason that some country that restricted heavily with bitcoin trading then again bitcoin has random value loss habit which made it more suspicious and sketchy to some peoples as well eventually some country's government put ban on Bitcoin. Such things cause trading ban on certain countries and even they take legal action as cause of violating them.

[gtx1060aa]

Some countries want to have full control of institutions and finances. If btc is included and if people will use it they would be by their own and governments would face difficulties on control/

[yourialfa]

I think every country has a different policy. Probably because bitcoin is very unstable and contrary to the bank. Bitcoin also does not need to verify itself because it is anonymous and of course the country is afraid if it is used for crime. It depends on how each country thinks. They need to make adjustments so that bitcoin can be received properly. But pretty good there are some countries that accept bitcoin.

[gtx1060aa]

perhaps this is a remarkable question, myself would be interested to know that, although I understand a certain part of it. perhaps its legality has caused it to be some countries prohibit. Bitcoin is a virtual currency, but it has great value. Therefore, these countries wanted to profit by it, in contrast, when a country does not want to be influenced by Bitcoin, they will ban it

[vetta09]

in some countries bitcoin is consider like money laudering for his anonymous transactions and sometimes illicit enrichment for it prices in the market, Bitcoin is a decentralized and virtual currency and any government in the world can control it. bitcoin is not supported in many countries because it mining consume a lot of energy. i think that some countries are just affarid that this currency can take the control of his finances and nowadays its popularity scape of his hands

[Etoasiatsxxx]

so they do not use the bitcoin because they have conditions in different countries, maybe they fear that they might threaten them or maybe they just do not want to bitcoin , they have many reasons why they do not want to support Bitcoin so we can understand the decision of another country that does not want to support bitcoin.

[SGToken]

Most countries fear that bitcoin would be mainly used for illegal products like drugs and for money laundering. They think that bitcoin usage would reduce their currency usage.They fear of losing their revenues which they get from taxes. They also might think that bitcoin is such a bad currency because of the difficulty to trace down a transaction using bitcoin because of its security features.

[Laokong]

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

in some countries bitcoin are being banned because they thought that they will using bitcoin to import illegal products in their country.
And also it uses by some other criminals to do their illegal doings.

[dvillier]

The quantity of individuals who abuse exchanges utilizing bitcoin such huge numbers of violations that make exchanges utilizing bitcoin without hosting to include different gatherings, for example, exchanges that at first through bank benefits so wrongdoing can be effectively followed yet with exchanges utilizing bitcoin it will be hard to track. It makes the nation unfit to help the presence of bitcoin.

[tentara pelajar]

Not all "heads" in this world have the same thoughts. Something new must have a pro and con response. It may be that some governments that do not support bitcoin see a threat that will destroy the country's economy. Whatever government policy is a decision for good and for the future of the country.

[Winnerschapel]

They are afraid of the threat which is tax evasion if their citizens using bitcoin. Tax income is very important source of revenue for the country and by using bitcoin, you can hide your income from the goverment. They want full control over their citizen and bitcoin won't let them do that. And bitcoin can also be used to do illegal activities such as money laundering and other illegal acts

[lantan81383628]

Because of the decentralization and anonymity of bitcoin, some countries fear that bitcoin can affect their financial system.

They can use fiat money to control people and let ordinary people be controlled by the state. Because bitcoin can be people's freedom of wealth, it is not controlled by Banks.

[Lintel]

Those countries fear that Bitcoin will make their economy to go down. Also several taxation problems have been their, as people prefer Bitcoin to escape taxes. Possibly when things go digitalized countries will use Bitcoin's technology to make their own digital currency.

yeah I agree you have a point, I think those countries are also afraid of the money laundering because you can make a transaction without revealing your identity. criminals would use to pay for the crimes in which the government cannot trace them. another issue is the tax, you can't make them pay the tax as it is digital currency.

[don pope]

because they continue to believe that bitcoin is the source of the crime

[maria toren]

Because countries do not want to be influenced by Bitcoin, they will forbid it