why some country banned bitcoin?

[nightxglow]

Because the goverment think that bitcoin will bring something harmful to their country maybe?
Or because they think it's illegal, or difficult to control because we know bitcoin is a bit anonymous(?) I don't know the right word to describe it.
But i bet the goverment have their own circumates that we may not know, but it surely for the country's good things.

[alexzorgo]

The bitcoin creates an opportunity for anonymity of payments and if it is impossible to monitor payments, then there is nothing to lay over a tax. The budget of any country is replenished at the expense of taxes. If there are no taxes - development of economy in the country will slow down. Therefore any possibility of the population to avoid payment of taxes is pernicious for national economy. And one more reason: control over transactions of payments is the one more lever of influence and control over the population

[aimata27]

Well some countries ban bitcoin is that they’re only protecting their own national currencies and also concerned about some money laundering activities.

[MetalGear]

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 there are some reasons why they banned bitcoin. I guess they banned bitcoin because they think it is a scam even though its not a scam. In addition to that, we all know that bitcoin is tax free and it is decentralized so that I think it is the reason why they banned bitcoin and I think they banned it because they can't control it.

[cryptothreads]

For me Bitcoin could ruin their nation's economy and this could have a huge impact on the government because they could not control the money from Bitcoin and certainly the banking system could be destroyed.

[lady-odyvan]

As for me they try to do this because they cannot control it, actually there is no way to control it by governement. It is always easier to prohibit something that you cannot control. But sometimes it doesn't work just pushing people and companies into the shadow economy.

[Apriand]

Country banned bitcoin usually because money laundry, bitcoin is anonymous and very hard to find real id for bitcoin users so its easy to manipulate our money from corruption. So may be they government will protect their people from something like that. But i hope my country wouldnt do that (banned bitcoin) in my country, because i really like this world and i enjoy work for bitcoin.

[Md Saad]

This is a very disappointing issue that some of the country's government hasn't a clear information about this platform. Most of the government think that Bitcoin is the main reason for money laundering issue. some of these authority people have taken it as a threat against the conventional banking system. But for me, they haven't any proper information about this platform that is why they are still against this system.

[BIG Tyrese]

Some countries are afraid of things they can't control and regulate and its so surprise Russia and China are leading with the bans.

[Wafilian]

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

Good question I want to know too why some country banned bitcoin i am keeping my eyes in this topic  

[ghost424]

They might see the usage of bitcoin as a threat or they might see that bitcoin is a threat. They are scared of what they do not know of. Most countries are not knowledgeable about bitcoin and this is why they are banning it. They do not know that learning about bitcoin will be very useful for those who are only staying at home and can generate another income.

[TiffanyLien23]

Some countries banned bitcoin because they really don't know on how to get taxes of this. They also afraid that it might be the cause of decreasing the economy of their country. Other countries issued a preliminary ruling that using bitcoin was illegal because of a lack of existing laws. Even though bitcoin was a licensed business but they still banned it because of that issues.

[migueltiu]

Some people thought that ICOs were a threat to the financial markets’ stability. There has been a push to regulate bitcoin in some small ways. For example, in 2014, the IRS ruled that bitcoin should be considered as assets. The decision meant that Americans who owned bitcoin would have to pay taxes on it

[HiringYou]

According to me, some countries are not able to understand the working of Crypto Currencies due to which they impose a ban on them. Cryptocurrencies like Bitcoin makes an anonymous transaction due to which it can lead to corruption. Some, countries think it can harm their national currency, and the lists goes on but they can't simply deny the fact that Bitcoin is becoming more popular and powerful everyday.

[Chachacoin17]

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 banned bitcoin because of it's decentralized system. The government can't taxed it so they hated it. They want their people to work on certain job wherein they can get the tax. You can also transact anonymously so there is a great chance it will be use to buy illegal things.

[rajuahmed763]

Old but golden article in the Guardian what answers your question.
https://www.theguardian.com/technology/2013/apr/07/bitcoin-scares-banks-governments

This is a valuable answer. Thank you. Its real news, i am also thinks about, people invest/transfering money by bitcoin in simple way. Its goes to more profitable. No tax, no risk. Its fast, so people using this short way.

[Faxmate]

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.

I think they just want to give some more time to bitcoin and they are looking to other countries who’s accepted bitcoin may be they want to see the changes first in those countries but there is no doubt that bitcoin can play a big role in in economy of any country so I’m sure very quickly these countries will accept bitcoin as well.

[carlerha]

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.

It is noteworthy that some countries banned ICO in their concerned areas due to some illegal activities like buying weapon and drugs but I think that the government should introduce a new system of controlling mechanism of all there illegal activities.

[bitllionaire]

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.

It is matter of encouragement for the investors that some countries are working on the legislation of bit coin in their countries like Sweden, Thailand and Vietnam while some countries like USA and Japan has legalized it which will also be very helpful for the remaining countries to get their assistance 

[Larva14]

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

The main concern of bitcoin is that the anonymity of bitcoin offers cybercriminals a good deal to get paid. Also many illegal online transactions have occurred in the presence of bitcoin. Add the fact that the government cannot regulate the use of bitcoin plus they can't tax it. The government fears what will happen of bitcoin is abuse so they just ban it.