why some country banned bitcoin?

[BUK2016]

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

There are some countries that ban ICO activities and not Bitcoin as you claimed. Country like China ban ICO and local exchange company because of their illegal activities contrary to the laws in China.  In recent time many ICO are becoming scam project day after day and there is need for the government of country to check mate their activities in other to protect her population from being scam.

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[ciWe]

I think the reason is that they are afraid that bitcoin will have a negative impact on the economic system of their government, so most of the countries that banned bitcoin are not ready with the rapid technological advances of fintech today

[King Sastro]

Some countries banned bitcoin for fear that the use of bitcoin shifts regular money, but it is certainly difficult to accept the problem because bitcoin can not be controlled by the government.

[KevinSutrisno]

some countries banned bitcoin because it is a decentralized crypto currency that can not be controlled by a particular party and also can not be traced clearly for the purposes of imposition of state tax rates

[Yarsk]

First of all they don't know how to demand tax from bitcoin and also the fear of they economy being destroy by bitcoin is another reason. And also the government are afraid of bitcoin because they can't control activities since bitcoin is a decentralized currency and not under any central bank of any country, the government are afraid that it is easy to launder money out of the country using bitcoin. So many reasons leads to some country ban on bitcoin.

[Klestar]

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

Based on my research in youtube and google some country banned bitcoin becuase they said that this bitcoin is only a fraud and i think many country banned this becuase bitcoin is the new job for all people so i think goverment dont want that.

[michellee]

i think the government is afraid that they can not controlling bitcoin as they want and beside that they don't want to make bitcoin as an illegal thing that can be free to use by bad people or some group. if bad people using bitcoin, then they can not be track or government will have difficult to tracked them and they can free to distribute the bad things to other people. and maybe the other reason is the government still studying about bitcoin and they are not yet finished their lesson.

[markleal]

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

  I hope my quick research about this could help. Check the list below:  

Country	Reason of Ban
South America
Bolivia	Not controlled by a government or an authorised entity
Ecuador	Establishment of a new state-run electronic money system
Central Asia
Kyrgyzstan	The sole legal tender on the country is the national currency of Kyrgyzstan som
South Asia
Bangladesh	Anti-money laundering laws

         

       

   

[azmiupb]

every country have taxes. but if u put or gain money in bitcoin, u didn't get taxes. i think thats why bitcoin not supported in some country.

[hyunee]

because they don't know how to demand taxes from this, and still fear for the economy of the country

They also fear that people would really put all their money to bitcoin not on the bank. As they cannot touch bitcoin they would probably banned this. Since it is a decentralized organization and government can't really touch them all they have to do is banned them. I'm afraid when it comes to our country as well.

[Guzztsar]

So far, the BTC remains legal or unregulated in most countries, the strange thing is that it is only banned in third world countries, this proves how much state control over a society is harmful

[nexus2k14]

I think some countries banned Bitcoin in fear that can or will compete with their own currency. For some governments implementing Tax on Bitcoin can be a difficult task and more expensive than banning.

List of top 10 countries that banned Bitcoin is: Bolivia, China, Equador, Iceland, India, Russia (Gov. is working on legislation) Sweden, Thailand and Vietman.

[yyz13857180757]

The main reason for this ban is it's really really difficult to control Bitcoin.
They might have seen the threat that bitcoin could bring in there economy.

[Fasdartin]

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

There are some countries that ban ICO activities and not Bitcoin as you claimed. Country like China ban ICO and local exchange company because of their illegal activities contrary to the laws in China.  In recent time many ICO are becoming scam project day after day and there is need for the government of country to check mate their activities in other to protect her population from being scam.

The reason why some other country banned bitcoin because some user of bitcoin they use it in illegal activities, like buying drugs ang weapon, and some goverment they didnt like it because they cannot control or manipulate the bitcoin, and also because of all country have rules and laws, like paying taxes, bitcoin dont pay taxes.

[swordling143]

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

Some countries are not in favor of using bitcoin and other crypto currencies, simply because they haven't tried it yet. Perhaps they heard some bad things about bitcoin that made them decide to not tolerate it's use in their respective countries.

[BlackRacerX]

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

Maybe because it deviates the cost of their fiat money because of hiw much bitcoin costs now. It would troublesome for a country that do not know what they're dealing with. I also think they're banning coins now in order to further study it to make something out of bitcoins.

[Nawaytes]

You must have known that bitcoin is currently the hot talk of bank owners, and bank owners have a strong network with governments in each country.
With the bitcoin, banking business performance is expected to decline.
Therefore the bank owner asked the government to take a policy on this matter, so the problem not be severe. And the government will consider this issue of how profitable it is for their country. Banks clearly provide benefits to the country with the various methods they have, but how about bitcoin? I think that's why.
Do you get the point?

[akishang]

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

I think its all about tax. It's hard to monitor tax. I mean, why would someone declare the payout here on bitcoin? It's like asking someone to take a percentage of your hard earned money. I know tax is a responsibility but if others are not paying it would I.hahaha BTW, implementing tax on bitcoin will be expensive so they just ban it in other countries. We are lucky to have bitcoin, it will be sad if its banned.

[Nagrogflaz]

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

some countries forbid bitcoin where they might be because there are concerns about the security of bitcoin transactions for its citizens so the country forbids bitcoin to protect its citizens

[darkangel15]

because all the big changes are afraid that the commissions will be cut off because they have built-up structures and frightened their owners and scared the money-holders who have won big money from it.