All governments want to collect taxes from the population and in the world of cryptomoedas this ends up being difficult to do. That is why the Chinese government wants to ban or forbade the Cryptocurrency, but I think it will be temporary because I do not think I'll be able to control it.
Many governments will try to do the same thing so they can get money out of the population.
This is the only reason behind it. Governments don’t want bitcoin to be regulated under their law but they can’t control it. This is unacceptable to them and for this only, they are banning all these exchanges in different cities. Like China, there are so many countries who are just banning bitcoin transactions but they can’t do it for longer time. It is temporary, and future will be bright there.
I agree for a long time, goverments have been spectical about bitcoin and wether they should do with it, because of how they can't control the transactions that come and go and they can't really know where the money is going, and this enhances criminal and illeagal transactions if used by the wrong people, and the other hand they have poeple earning thaousands of dollars and not paying taxes, because what they are earning is not real money, so all of these makes it hard to manage it, so probably thats what got it banned, but i wonder if these has to do anything with the reacent bitcoin price fall.