why some countries are prohibit BTC...

[warunacrypto]

speciall some arabic countries are stop to market with crypto currency that people thinking BTC are damaging there bank system...you can give your opinion with me...i would like to know lot of senior members what there thinking about this

[1715134965]

1715134965

[amacar2]

Bitcoin and cryptocurrency can handle all daily payments without using any third party software or without any regulation or monitoring. That is the real reason why many government is banning use of crypto or its trading in many countries right now. Cryptocurrency can replace whole traditional financial system and trust over crypto is growing worldwide, its revolution that can't be stopped by such bans.

[waynechong1995]

I believe cryptocurrency wouldn't seriously harm their bank systems, what to afraid when most of their income came with natural resources anyway, still legalizing them means allowing millions of fund to move away their land without a single trace and this is especially good for companies that do shady businesses such as avoiding taxes, it just make things easier for them. Cryptocurrency also indirectly promoted scams that using the bitcoin name to cheat their public using scheme which are too common now. It's pretty expected to see cryptocurrency being rejected as their qualities are simply doesn't suit well with centralized government.

[Blakscorpion]

When you have the monopole of something, and other people come with better ideas, more secure, less expensive, you'll do whatever you can to kick them back from where they come from.
That's what happening with banks and governments. They try to keep the way it's working right now, but some of them are clever and enter the boat before it leaves, like some banks with Dash or other crypto for banks...

[bear100]

Some countries just China  They prohibit every normal thing)

If seriously, they don't have the understanding of how to use and control BTC. Its normal first reaction. But they need to adjust its own system to the rapid growth of new technologies.

[jawatulen]

a lot of reason why most of country prohibit the bitcoin and others cryptocurrency
one of many reason is because bitcoin can't controlled by government, central bank, local institutions and many more

[jvdp]

speciall some arabic countries are stop to market with crypto currency that people thinking BTC are damaging there bank system...you can give your opinion with me...i would like to know lot of senior members what there thinking about this

Most of the countries are not legalized in Bitcoin and cryptocurrency. Government is decide to accepting cryptocurrency. But this digital currency is not possible to processing in many of the countries. I think Arabic countries are not stop to market. Some spam news are published in many of them. Most of the Arabic country competitors are invest in this coin. So Bitcoin is not stop in Arabic countries. But this is affected in banks and government profit.

[babsjoe]

Any country that believe and founded on the rule of law and openess will not prohibit bitcoin rather it will embrace it. Bitcoin can help many Government all over the world to curb corruption and excesses

[Catmony]

speciall some arabic countries are stop to market with crypto currency that people thinking BTC are damaging there bank system...you can give your opinion with me...i would like to know lot of senior members what there thinking about this

Not only arabic countries but many developing or under developed countries have banned cryptocurrency trading because they can't regulate bitcoin because lack of enough infrastructure in their country.

Also they can't monitor bitcoin transaction so they can't stop money laundering which is the biggest threat for all these under developed and developed country because it will totally destroy their national economy.

[NEERAJ ANAND]

Many countries are banning bitcoin because they are afraid from his high growth as no investment can match its growth and it is now first choice of people for long term.

[Pasutinmeur]

speciall some arabic countries are stop to market with crypto currency that people thinking BTC are damaging there bank system...you can give your opinion with me...i would like to know lot of senior members what there thinking about this

Because of those countries already controlled by the bankers. We are realizing the fact that the bitcoin against the centralized system of the bankers itself. Just like US as the country with a lot of the bankers always try to prevent the crypto. Since the crypto based on the decentralized system and they are all thinking that can disrupt their economic structure.

[RoadToBTC]

It's natural that many countries think so, because there are so many reasons why crypto was banned in some countries. one of the reason, may be because it was difficult to organize and monitor the movement of digital currency, also can be because the tax for the country is difficult to detect.

[Dorky]

Of course every country or government that prohibits bitcoin shopping has their own reasons.
The biggest reason is that the Bitcoin exchange is used for informal and money laundering purposes.

As long as people demand to invest in Bitcoin, governments will have to solve and regulate these bans.

[criticoflife]

they are scared that they might lose there unfair monetary system. All the wealthy people must hate crypto too in case it takes over from the fiat they cling on to so preciously.  Well too bad for them, crypto is unstoppable like a snowball gaining momentum. Fiat's time has passed.

[Elby]

They just want to control it, but they can't so then they decide to ban it. LOL They just want to make money out of it like getting tax of it, they will never have control over it so some countries will try to block it. Which countries have a block or ban? I heard that Bitcoin was never allowed in China? But there was a stock exchange there?

[rudolfaxl]

I can't say exactly why, but there is a fact that BTC and crypto at all spread much better in those countries which try to prohibit crypto

[bitcoinisbest]

Any country that believe and founded on the rule of law and openess will not prohibit bitcoin rather it will embrace it. Bitcoin can help many Government all over the world to curb corruption and excesses

This does not form true in many countries which are based on rules and regulations and have the constitution in place. Many countries are still left undecided about the cytpo currency in what form if they need to legalize it how can they do it and control it. Else they are left with a ban option if they go in a negative way.

[rudox]

They are all wasting their time the earlier  their banking system adopts Blockchain the better for them all. Blockchain is the future of all financial transactions be it governmental or corporate organisations.

[w5pn73]

Countries see they are slowly losing grip on the situation with the growing value of btc. They will do what they have to to protect their fiat currency.

[Tantlizbat]

speciall some arabic countries are stop to market with crypto currency that people thinking BTC are damaging there bank system...you can give your opinion with me...i would like to know lot of senior members what there thinking about this

Exactly! There are some countries in the world who actually think of bitcoin as the economic disaster for their paper money. The thing is it is just a matter of time. Things will be changed and that too in a significant manner in the next few years.

I am very much hopeful that bitcoin will be able to change the minds of such people and the governments will take positive steps in order to declare this bitcoin as legal currency.