why some country banned bitcoin?

[bane1990]

perhaps they are too dumb about inflation, or they are not ready for the coming of the digital age

[Zabercoin]

Perhaps because bitcoin can affect the exchange rate in the country, it can not be controlled and it is decentralized.

[DPrillio]

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 because they say that bitcoin is very dangerous.They say also that the terrorist use  bitcoin to attack their country and to have more information about their country.So they banned the bitcoin in their country because they think that it is not safe.

I don't fully believe that bitcoin can be used by terrorist to attack one's country. I think the reasonable reason why some government banned bitcoin is that they are afraid that crime will rise due to bitcoin, because we all know that bitcoin is an virtual money with a decentralized system, therefore all transaction made by bitcoin is anonymous,  the government have no trace of all the transaction. Illegal activities that would happen is like money laundering, tax evasion and illegal money transaction will rise.

[Kupid002]

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

One of the reason why they banned bitcoin is they can't controlled it because it is decentralized where no one can controlled or manage. In addition to that, we all know that bitcoin is a tax free so that if all people in one country used bitcoin no one will pay for tax and its a big problem in government so that I think they banned it.

On the other even its tax free the way we buy are needs we pay tax on that way but your right some government will never let some transaction or currency like this to exist on their country that are not paying tax and i think that they are trying to protect their country why they do that banning.

[haidil]

i think the use of bitcoin may affect a country's economy as much as possible with bitcoin so little use local currency and bitcoin is not subject to income tax deductions

[Xzhyte]

Since they cannot control bitcoins. Anonymous transactions make it impossible for them to track and locate the user. They cannot impose taxes in which can lead to decrease in income of the government. Sometimes, bitcoins are used for illegal transactions.

[Raisul Islam]

It is a cryptocurrency.
many country banned bitcoin because they think if they free bitcoin in there country .there pepole will make there mouny as a bitcoin .so they worry about it.thank you.

[EVYFZ]

For some reason, they consider it dangerous for the country?

[Diamondfx]

they feel threatened because their government could not control it and it's fast spreading like virus ready to overthrown fiat currency

[roxanaroxanaroxana]

because the point that I believe really is easy like bitcoin transactions cannot be read by the system because bitcoin every deal does not have its name like a transaction inside a financial institution that has a title and also bitcoin can be used to buy a thing that looks negative and maybe it is prohibited by a few countries but back again if we see on the good side bitcoin can develop and technologies are also more and more sophisticated and alter all of the financial aspects..

[bitfornewbs]

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

They banned it because of the reason that bitcoin is very secured. Bitcoin is very good crypto currency and is the most used world wide. Having the best security of all makes it hard for the government to control and track. They can't track illegal trades and transactions. They can't control the release, the price and other inner workings for economy. It is hard to put tax and they can't gain something from it unless they embrace it for themselves.

[kkofor]

When Government can't collect income tax from investors, they will prevent investors trade it. Besides, they also scare Bitcoin can replace their currency.

[Snowier]

Perhaps it is just defense of financial system 

[bakunawaaa]

It is not per se banned. What is banned right now are the exchanges of cryptocurrency and some companies that deal in crypto and make it legal business. No government can ban btc. Not unless they ban the websites that host virtual wallets. But even then people can just use vpns to still own btc and the governments cant do anything about it.

[Minionnn]

Although bitcoin has many benefits for the user but it is not beneficial to the country and affects the benefits of the bank. So, in some countries, bitcoin is prohibited.

[micleeiu398]

I think Goverment don't wand loss many money from bitcoins.

No it's not like that, the reason behind this is the usage of bitcoin in illegal activities like buying illegal drugs online, illegal weaponry, and so on. So the Government came up to a solution of banning bitcoin for this kind of activity to stop, but I think it didn't, it just lessen than before. However, each countries that banned bitcoin have different stories, and some are too confidential to be said on public.

Bitcoin is a currency like other currencies. I am sure that even USD will be using as for illegal activities, then why they don’t banned USD. I am sure that bitcoin is currently use for legal activities. In fact the users of bitcoin are currency not as much therefore government are not accepting bitcoin as legal currency, but in future when the number of bitcoin users will increase then we can expect that government will take positive step about bitcoin to legalize it.

[seanskie18]

Some government in some country banned bitcoin because they don't just get an income tax from it.

[Harley29]

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 the main reason why many cou try banned bitcoins is because of the disadvantages of the bitcoin. We should become aware that the bitcoin have also many disadvantages

Well I think there can be a reason that they want to use their people for their own work in order to they collect tax from them and bitcoin is free from tax and also its going to provide a good source of income to the people so that why these countries don’t want to disturb their economy but I think it’s a wrong decision by them.

[golek upo]

I think, they fear with the development of bitcoin is very great. many terrorists are using bitcoin as a means of funding for elements of the crime, while the state can not keep track of the circulation of bitcoin.

[MFY151]

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 cryptocurrencies like bitcoins is not taxable and of unknown origin that is not part of their laws and economic plans. Bitcoin maybe easily perceived as a threat to some country but some government ignores it. The best country I've seen that accepts cryptocurrencies are mostly in southeast Asia, I don't see others countries reason to banned bitcoin but I guess that is how they do their things.