why some country banned bitcoin?

[fishbonez11]

Bitcoin is decentralised and thus these governments cannot control it, the main issue with this is that they cannot tax it effectively. There are also many scams related to bitcoin and especially ICOs, therefore for China for example it was necessary to ban them so they could protect the interests of their citizens who may invest.

Yes, some countries chooses to ban bitcoin because they cannot control it, cannot tax it. Some government may see that it as a threat to their local currency and bank. Some also speculate that bitcoin transactions poses a threat to their people and businessmen because of its anonimity.

[Dainye_dyep]

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

This will make us think, bitcoin is a new way for us to become profitable but yet some country still refused embracing the, like China they want all the source of their people's incomes must be traceable, and we all know bitcoin possessed it's feature and it is anonymity feature, it doesn't require so much information about yourself as long as you are credible enough to work in bitcoin you are able to work here, so I think tthat's one of the reason China banned bitcoin.

[messi1306]

I think a country banned bitcoin because they were afraid of arms sales and gambling,... . Things that their country is hardly in full control of. That is also the main reason to prohibit bitcoin .
This is my think.

[Rasel5209]

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 am highly interested that why my country GOVT don't accept bitcoin. I think many country don't accept cause he don't want to come in world currency and digital currency. many country think bitcoin effect her money lander.   

[monomix]

the govs have always had an exclusive right to issue and control money, now that privilege is under threat. which gov will like it ?

[D2R2]

because they cant controll bitcoin . no taxs, no infromation about users . Now they hang over to exchanges . to many exchanges accept their rules to verification users

[thesmallgod]

 countries that have banned Bitcoin have almost similar reason for doing. some believe bitcoin will have negative effect on their economy since the technology is purely decentralized and government can not control it which make it difficult for them to collect tax and other dividence. also some believe BTC is just a bubble and not actually a currency, some called it asset while some countries that have little or no understanding of BTC call it Scam.

[cinchin]

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 am highly interested that why my country GOVT don't accept bitcoin. I think many country don't accept cause he don't want to come in world currency and digital currency. many country think bitcoin effect her money lander.  

- Not accepting the bitcoin is probably correct, they need to do this because bitcoin has an impact on the economy, the government can not accept it, if accepted, money laundering will occur frequently, many people will evade taxes and harm the economy of the country
- In my country, they are also banned bitcoin but they banned the use of it as a payment method, I can buy, sell, hold the bitcoin freely, but I can not use it in real life, in short bitcoin is out of control, the government wants to ban Bitcoin also because they want to avoid illegal actions may occur

[De Suga09]

In Russia it is not forbidden: no law describes coproevaluations as such, in particular, does not equate to surrogates or anything else

Bitcoin is a free economy. Users are not paying taxes so it means the government does not have any profit from it. This could be a reason why other countries does not want bitcoin also,like South Korea,they don't want bitcoin because they say this could be a way for illegal transactions.

[ORiN]

they are afraid that BTC will affect their fiat stability

[marcuslong]

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 believing that bitcoin currency will become scam and also here in my country they saying that bitcoin is scamm because of the investment website showing up that they will give 10 to 15% of your investments and after a months your money will disappered

[Hell-raiser]

they are afraid that BTC will affect their fiat stability

Yeah, that likely explains why countries with shaky economies and faulty currencies are so afraid of cryptomonies. People don't want to lose theirs savings, and while Bitcoin and other cryptoes are risky when compared to main currencies like the US dollar or the Euro, they are still a better choice versus hyperinflating local currencies like the Venezuelan bolivar or Zimbabwean dollar. Though the latter has already been done with.

[Rishabh riyz]

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

No country till now has actually ban bitcoins , like there is no country where using btc is illegal .
People usually misread situations like this , the ban is on transfering the BTC balance into bank account and then converting it into their native currencies (this is implemented in China ). Or the government would freeze all the bitcoin sellers , so that people don't buy it .
But still the miners are free to one and the people can use it .

No nation can ignore the tremendous advantages offered to us by BTC, so their is no question of banning BTC.

[anitaraymonds]

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

Is it Bitcoin that is being ban or ICO by some of these countries? Please let us get it right. Bitcoin is private and decentralized and internet based.
Is it possible for it to be banned.

[Vritesh]

Some countries banned bitcoin because bitcoin is decentralized and government has no control on it. Moreover it is used in crimes such as drugs and weapon dealings which give another reason to government for banning it.

[Notcalculator]

Other than the issues regarding the problems on anonymity and control that has already been pointed out in the previous posts, Bitcoin is new technology. Governments has yet to understand this technology and asses if it's a threat to them. I am speculating that the bans are purely temporary and experimental. Because they have not yet came up with a set of regulations, they issued bans to give them time to study how it's going to impact them.

[Pfizer]

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 am highly interested that why my country GOVT don't accept bitcoin. I think many country don't accept cause he don't want to come in world currency and digital currency. many country think bitcoin effect her money lander.  

- Not accepting the bitcoin is probably correct, they need to do this because bitcoin has an impact on the economy, the government can not accept it, if accepted, money laundering will occur frequently, many people will evade taxes and harm the economy of the country
- In my country, they are also banned bitcoin but they banned the use of it as a payment method, I can buy, sell, hold the bitcoin freely, but I can not use it in real life, in short bitcoin is out of control, the government wants to ban Bitcoin also because they want to avoid illegal actions may occur

They don't want uncontrolled economy for their citizens. They want more tax from their citizens. They want the usage of their national Money. So therese are the obvious rasons for ban of bitcoin.

[Lovelybittycoin]

Well it's been said that a lot of online scammers used bitcoin as a tool to finance their activities

[rayneh]

Governments are going to ban Bitcoin here and there. There are always the fringe who do not accept new technology for whatever reason.

So of the nations restricted the bitcoins in light of the fact that they have not a thought that how bitcoins is the most gainful and most quickest approach to acquire cash yet soon they will understand that it is the most productive cryptocurrency in the universe and after that they will begin bitcoins in there nation and every individual will wind up plainly tycoon due to bitcoins

[weredo911]

Because they can't control Bitcoin. It's a kind of anonymous money. People use it don't have any information. Government can't know and tax from them. Therefore, they ban it.