why some country banned bitcoin?

[poging alfino]

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

for me why some country banned bitcoin it is because  As it marches through the world, and more merchants accept it, each country decides whether it is on the supporters' or the contradictors' side of this battle. Reasons why Bitcoin is banned are different, while the reason to adopt it is always the desire to follow the progress and obtain new technologies.

[onifla]

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

why some country banned bitcoin? because maybe it can be use in for declining new currency are terrorist and cyber crimes financing potential, alongside illegal drug traffic and using cryptocurrencies in money-laundering or Ponzi schemes.

[automail]

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 they are afraid that it might hurt their economy someday. I was researching about this topic and base on what I have read, there's only one reason why they banned bitcoin. TAX is the reason why they banned it.It is not classified as a foreign currency or e–money but stands as “private money” which can be used in “multilateral clearing circles”.Thus, it makes it harder for other countries to monitor and create a law where in they can charge tax for bitcoin users. Also, another issue was raised where in bitcoin can be used for money laundering. I don't agree with that so I just stop reading the article.

[saedasda]

Government cant put taxes to it and some people use it for Black Market.

[nethan1btc]

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 they are afraid that it might hurt their economy someday. I was researching about this topic and base on what I have read, there's only one reason why they banned bitcoin. TAX is the reason why they banned it.It is not classified as a foreign currency or e–money but stands as “private money” which can be used in “multilateral clearing circles”.Thus, it makes it harder for other countries to monitor and create a law where in they can charge tax for bitcoin users. Also, another issue was raised where in bitcoin can be used for money laundering. I don't agree with that so I just stop reading the article.

I agree, tax is one of the reason why some countries getting banned of bitcoin because they think it is a big threat of their economy. And I think the government is afraid that they can not controlling bitcoin. 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 transact using bitcoin, then they can not be track  of the government.

[rexter]

The central bank of Bolivia issued a resolution banning bitcoin in 2014.Not regulated,according to a 2014 statement by a central bank of Brazil concerning cryptocurrencies.There is no regulation on the use of Bitcoins.

[pathapoddo]

Yes, bitcoin is banned some countries.There is so many cause.But I can tell some. First one the government of the country think that the cyber crime is increasing by bitcoin.The criminal buy their weapons by bitcoin. That is most important cause. Another is the tax. People earn by bitcoin so the government will not earn tax.That's why bitcoin is banning.I think these are the cause.But there will be some other cause also.

[crustycrab666]

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

Why they ban it? Bitcoin is a decentralized stuff which means it cant be taxed and also if their citizens would able to know about bitcoin then tendency on hiding their assets on crypto form would possibly happen which they would really have a hard time on tracing up knowing bitcoin is an anonymous stuff too and also they do believe that it can really increase criminality on their place.

It is true. the government will not be able to control bitcoin. so the government is worried about criminal acts that use bitcoin, such as drug trafficking, illegal weapons, etc.

[Bakemat]

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 dont really gets when some countries and government banned the bitcoin. It do nothing harm on them in fact this is a good benefit. The only reason i think why they banned the bitcoin because in the Metropolitan police the bitcoin is within in the bad and crime activities to other world this is the only reason i think

[CaliforniaCrypto]

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 dont really gets when some countries and government banned the bitcoin. It do nothing harm on them in fact this is a good benefit. The only reason i think why they banned the bitcoin because in the Metropolitan police the bitcoin is within in the bad and crime activities to other world this is the only reason i think

Countries ban Bitcoin because people can make fortunes in it and they have no way of taxing it. Governments need to charge taxes to function, Bitcoin is a direct threat to most governments.

[mornabo]

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

why some country banned bitcoin? because maybe it can be use in for declining new currency are terrorist and cyber crimes financing potential, alongside illegal drug traffic and using cryptocurrencies in money-laundering or Ponzi schemes.

yeah arguably bitcoin has a very good feature for secret transactions, the government knows what the consequences if they continue to let bitcoin in circulation there will certainly be many people who will use bitcoin for illegal transactions and make financial crimes, so the government gives a ban to bitcoin, if from side of the government I think that is good government intentions? to avoid increasing crime? but is it there a way out other than ban?

[phelbaby]

Bitcoin is a decentralized currency which can,t be control and this give,s them concern when it comes to Taxation and that,s why they decide to ban bitcoin.

[bololord]

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 country banned bitcoin is because they believe that bitcoin is only fraud so that's why many goverment hate bitcoins and because of bitcoin many scammer people enter in bitcoin to scam other people who investing here in bitcoin , goverments hate that so that's why many goverments banned bitcoin.

[OneSortieMan]

Because Bitcoin competes with the local currency, or it is hard to track and tax bitcoin transactions

[Raju Ahammed]

Many countries banned bitcoins. because they think there local currency will be fall down ans there is no charge any transgression. thank you.

[bryant.coleman]

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

That is not a valid reason, according to me. Even more scammers use fiat currencies such as the United States Dollar and United Kingdom Pound for their activities. Does that mean that we should ban these currencies as well? I don't think so.

[Fretcy]

To my point of view Some countries have banned the use of bitcoins as the Government or the central banking system has no control over the bitcoin network. Countries like Bolivia, Bangladesh, Ecuador and Kyrgyzsstan have banned the use of bitcoin in their country, Bangladesh banned bitcoins as a part of anti money laundering affect, Money laundering and other criminal activities are in existence even before the advent of bitcoin and blockchain technology, the fact is that those Government's are scared of the new technology as it might tend to lose their power of controlling people's money if all are using this technology. In two to three year's time bitcoin technology will be accepted by all the countries due to growth potential in the crypto market.

[0Pirats0]

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

And you think it's normal when there is a certain force in the country that can not be controlled in any way and one day the whole economy of the country may collapse and lead to the devaluation of the national currency. Therefore, the government decides simply, we can not take control, it means we just have to ban it, it's just as simple.

[abnoy]

i think because they're overuse a bitcoin and can affect the goverment because it easy to earn job i think anyone can learn it without having job

[mingxiao]

Because Bitcoin has an anonymous letter, the state is not well managed, so that illegal elements can engage in criminal activities, and Bitcoin is not subject to state control, easily destroys a country's economy.