why some country banned bitcoin?

[A.nayem]

The main reason for this ban is it's really really difficult to control Bitcoin. Bitcoin transaction is anonymous so it's nearly impossible to find out the owner of any transaction. Beside countries banned Bitcoin because their technology still not developed enough to control Bitcoin and its disadvantages to prevent crime take advantage of Bitcoin to commit guilty like tax evasion, drug trafficking.

[farhansadik]

I think the main reason behind some countries banning bitcoin is maybe they think BTC is not secured Properly and one of the main reason is Decentralized transaction. Maybe i said maybe they don't know that much about bitcoins, that's why they are banning them, or maybe they feel insecure to use them.

[Akash55]

I think that in countries where bitcoin is banned, they may think that due to the use of bitcoin, the value of their country can be reduced. It can be seen internationally, the value of their country will decrease. Bitcoin banned in those countries.

[arlinxoha]

Yes Bitcoin is banned in many countries. Like my country is banned. Bitcoin is banned in my country because Bitcoin is free. It can not control any country. So my country also. My country's government thinks Bitcoin will have a bad effect on the economy if everyone uses the country. And they also think that if you use it, the country's currency will be trafficked abroad. People will do illegal work. But I do not think that will happen. Bitcoin will reduce the unemployment of a country. A country will improve a lot.

[Hallmader]

why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?

International in terms of bitcoin can only mean that countries can adopt and use it. But it does not mean that it is accepted around the world. At the end of the day, it only depends on the particular country whether to accept it or ban it and label it as illegal. I think those countries that banned bitcoin are not convinced of its real-life use.

[traderethereum]

i think their government doesn't look bitcoin as a new way to make money for their citizen and only thinking that bitcoin will be like a threat for their economy. because their citizen which is using bitcoin is not paying the tax at all when they use bitcoin except when they sell their bitcoin and send the money to their bank account. maybe they are afraid that if many more people trying to use bitcoin, their fiat can be affect with the bitcoin price and will make the economy of the country will disturbed. but i think the government for each country need to learn about bitcoin and blockchain technology so they can realize that bitcoin is a new hope to their citizen to make money when money is their problem.

[mekar sari]

Each country has different reasons, but the exact reason why they are banning bitcoins is economic, social, and political

[novhitadaloma]

in my opinion maybe some countries that do not know with bitcoin, so they strictly prohibit bitcoin in making a transaction in a country.

[xBitHodler]

They are simply afraid of losing control of financial system. They wouldn't be able to print more of money. I would like to see a country with cryptocurrency as their main currency. A lot of countries right now have a huge percentage of cashless transactions. Paying with a credit card is something really convenient. Wechat already allows you to pay by scanning merchants' QR code.

[ronypro]

Each country has different reasons, but the exact reason why they are banning bitcoins is economic, social, and political

I think the biggest reason of the fear of market,most country's central bank have the 80% money saved from people in banks this is the liquidity.This money used by trained government professionals to trade and make more money.Now if general people start trading with currency that is different from its own they loose liquidity.If 80% people doing this wins the trade that a win for the government also but the hard truth of trading is 90% looses money and in bitcoin its even worse .So basically country economy suffers  sad but truth..

[RoadToBTC]

I think it is the policy of each country...most countries prohibit the use of bitcoin with the intent of payment like local currency...Because bitcoin is a digital currency, for some countries it considers unauthorized means of payment.but if only to invest i think it's allowed, as it does in my own country...

[Sskapollo7]

Maybe they feel the same way what others think like Bitcoin is an digital currency which follow unauthorised way for payments
As we see each country follows their own created policy in which Bitcoin is not prohibited as they feel of loosing of their financial currency

[Risktaker31]

I think they are afraid because bitcoin is taking over the fiat system and the central banks. Or maybe they just dont have a law that will govern how to use bitcoin on their country.

[mehcat11]

Main thing that some countries banned bitcoin because of its system is decentralize and anonymous so there is no one can control it. I also have heard that the Russian central bank warned that the use of bitcoin is a potential source of money laundering and a funding route for terrorist activities (maybe you can read more opinion about bitcoin and terrorism in thread https://bitcointalk.org/index.php?topic=1857386.0) because the transaction system used by bitcoin is anonymous. There are some consideration of the government to legalize bitcoin. Some of these things can harm the country, even though bitcoin also offers some advantages on the other side. Each system has its own disadvantages and advantages.

[whoisyourking]

why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?

Because they are  thinking that bitcoin will affect their economy in negative way most of the country that banned bitcoin has a good economy and they fear that maybe bitcoin will become one of a reason to ruined their excellent economy they do not want to do any changes..

[BaeNaNa]

why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?

Because they are afraid that bitcoin will make their local currency weak and it's hard to tax bitcoin, so if a lot of people use it for selling and buying items it's hard to tax and their income will decrease a lot. It's also a lot of harder to trace bitcoin transaction, there's too many cons from bitcoin so they just decided to ban it.

[adzino]

There is just a "simple" reason behind it. They can't/don't control bitcoin. The government want to take hold of everything. Giving you freedom means making the power of government over you weak. Since they cannot control and regulate bitcoin, it becomes hard for them to keep track of your transactions. They cannot impose tax over you. They feel that this coins will be used only for committing crimes, despite the fact that people also uses fiat to cause trouble.

[kissterhey]

Perhaps because the country does not want bitcoin to dominate their other virtual currency.

[elliottflz65]

in my opinion maybe some countries that do not know with bitcoin, so they strictly prohibit bitcoin in making a transaction in a country.

I would agree with this. They lack the knowledge and only know of it from the news which has paired it with drug use and the dark web.

[requitix]

why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?

Was talking to a friend of mine a couple weeks ago and he's a bank guy for a top 5 firm and he told me that the higher ups are very nervous and some are even scared. He even heard that they are pushing their lobbyist to get the US gov to outright ban crypto. I assume this is why other countries are banning it. They can't control it so they won't be able to manipulate it or profit heavily from it. But the good news is that in the US, the government was created for the people and by the people.