Why do some government ban bitcoin?

[Aryanto28]

the government does not want to increase the level of crime because often bitcoin is associated with negative things such as illegal transactions and money laundering. Therefore why the government forbids the use of bitcoin. But actually bitcoin is not monitored directly by the government because bitcoin is not owned by any country so the government does not control bitcoin. It's just a bank that may issue rules about bitcoin in a country.

[roddy5]

Reason why other countries are so skeptic when it comes to bitcoin is because of the fact that they can't control it. If Bitcoin will be fully implemented in the future then governments will not have control on the currency that is being used in their countries and they hate that.

[Dudeperfect]

The reason is simple, they can monitor you but can't interfere with your business and Bitcoin makes it difficult for them even to track your activities. However, understand that governments can not ban bitcoin in any way due to an advanced technology model based on the blockchain. They can only prevent us from doing any Bitcoin-based business and convert Bitcoins into fiat currencies and vice versa. However, in the case of a Bitcoin-friendly market environment (which is on the way and taking its shape), there is no need to convert Bitcoin in any other currency to spend it.

[Afnan_faizah]

Reason why other countries are so skeptic when it comes to bitcoin is because of the fact that they can't control it. If Bitcoin will be fully implemented in the future then governments will not have control on the currency that is being used in their countries and they hate that.

Yes, maybe that is the best reason. In my country, bitcoin is not prohibited but also not officially accepted. Government regulate the use of money, people in my country only can use IDR as medium of exchange. I don't know why this regulation is created but there must be a good reason for this.

[Xxmodded]

China-based cryptocurrency exchange BTCC suspended all domestic trading in yuan last weekend. The decision came on the heels of a September 5 statement from regulatory authorities in China, which required all domestic cryptocurrency exchanges publish closing announcements, stop registering new users, and establish a schedule to cease yuan-denominated trading by September 15. Huobi and OKCoin — two other exchanges based in China — have announced similar plans to stop trading. To be clear: China has not banned the use of cryptocurrencies. It has banned cryptocurrency exchanges and initial coin offerings (ICOs). Even still, it has prompted some to consider whether a government might ban cryptocurrencies like bitcoin — and, perhaps more importantly, whether such a ban would be effective

china again? lol
I think this will no longer be a topic that will make many people will be restless. or would be a big rumor, I think maybe that will feel harmed is a community that is in the country of China. not us outside of china.
anything that china will do on crypto and bitcoin, will never be able to stop it

[Prem.Soorajpaul]

China will not ban crypt o currency as it is only a currency which is giving competence to US dollar. Indirectly, Chinese will support it but they will accept it openly as US is their big trade partner. so, no need to worry about bit coin. It will go up and up.

[Ochakemaput]

bitcoin could more easily be a crime, bitcoin has a system that can provoke crime, because the transaction is anonymous, can make a person commit money laundry and bitcoin users do not pay taxes to the state, and even then one of the reasons

[spinach98]

On my own point of view some government ban bitcoin its because it has no tax and also they say that bitcoin is because use by druglords ans terrorist in their illegal transactions and they cant track it.

[randyboy]

Because they dont hold to much the bitcoin no one can hold it by itself even government and government dont get any tax from bitcoin itself thats why china ban bitcoin because many of users if bitcoin in china are not paying big rax even they get bigger money from people that are use bitcoin thats why china dont manipulate bitcoin they ban it but users on china  can not be prevented.

[kpcian]

They ban it because they can't control it. Governments are in the Control business.

Well said, Basically Government are the institution which is mainly responsible to take care of its people, they are regulating everything they want. One thing we know that the economy is the main key to bring develop. that's why the government wants to regulate all sorts of economic institution properly.
Similarly, Bitcoin is included in this list, so that a couple of government are trying to regulate or ban Bitcoin is those territories.
But I believe that in the future, All government will use and hold Bitcoin. Because day by day it's platform is creating.

[Hirameki]

Here they come again, the last timr china did this act to bitcoin has great impact in the price but now I doubt this news would affect the price since investors now are wiser.

[_noname_]

I am unverifiable where this will go. In an extremely broad sense BTC could approach turning into a worldwide money. Not outright for the time being, but rather when general acknowledgment spreads more it will have the impact of seeming worldwide in strength. Obviously, nations with disintegrating fiat are seeing that BTC is propping up financial specialists in tremendous numbers. There are nations where the fiat you hold is winding up generally useless as the days pass by. The nations controlling those shocking fiat charges completely would prefer not to see BTC assume control in their nations. But then, on the off chance that I approached I wager the Gov authorities from those extremely puts are purchasing BTC to cover their

[ezekhiele]

The government ban bitcoin because no one can control bitcoin. Aside from that banks will be closed and digital money will be used. Government cannot earn money from bitcoin through taxes.

[ale_berra]

The main reason is the lack of control. At the moment, governments of all countries are not able to track transactions made with the help of crypto currency. Hence, there are other reasons. Mining requires a lot of energy, at the same time, there is no legislative base that regulates energy consumption, taxation. And, of course, this is an excellent opportunity for terrorists and scammers to commit their dirty deeds, which is unacceptable.

[TechBullion]

Some countries ban cryptocurency due to its susceptibility to be used for illegal activities.

[esgdrhlg]

the government does not want to increase the level of crime because often bitcoin is associated with negative things such as illegal transactions and money laundering. Therefore why the government forbids the use of bitcoin. But actually bitcoin is not monitored directly by the government because bitcoin is not owned by any country so the government does not control bitcoin. It's just a bank that may issue rules about bitcoin in a country.

To a large extent because of money laundering with bitcoin, the government can not detect it or perceive that there is no solution to prohibit it. The core of the blockchain is decentralization, so it is easy to understand what the Chinese government is doing

[kumarcp]

Because they do not get the transaction details done in the bitcoin

[Dod Ong]

China-based cryptocurrency exchange BTCC suspended all domestic trading in yuan last weekend. The decision came on the heels of a September 5 statement from regulatory authorities in China, which required all domestic cryptocurrency exchanges publish closing announcements, stop registering new users, and establish a schedule to cease yuan-denominated trading by September 15. Huobi and OKCoin — two other exchanges based in China — have announced similar plans to stop trading. To be clear: China has not banned the use of cryptocurrencies. It has banned cryptocurrency exchanges and initial coin offerings (ICOs). Even still, it has prompted some to consider whether a government might ban cryptocurrencies like bitcoin — and, perhaps more importantly, whether such a ban would be effective

I think why do some government ban the bitcoin in their country, because their knowledge about bitcoin is not correct. Like the bitcoin is unfair for some people who is working hard to earned money, but here in bitcoin by posting you can earned more money than the other people can earned. I want to be a billionaire someday because I want a prosperous life than others.

[Usafstar]

There is one major reason that's why many governments are ban the bitcoin in their country like the economy will be shifted to the digital currencies and the people will have no physical money to be sure of their wealth. The other reason is the taxes if the money is digital then there will be no check and balance of the transactions of the people. So the governments is not allowing digital money in their countries.

[xamxam]

I think bitcoin was being banned in some country because they did not know the exact useful and the things that made them when they knew about bitcoin. And maybe because bitcoin will affect their economics so they have no choice unless to banned bitcoin.