What is the main reason Behind Crypto Ban From Many Countries?

[GeorgiyBilyk]

I believe that the ban in many countries is associated with fear! Fear not to control financial flows, fear of openness, fear of scale, fear of rapid development! All are afraid of officials, and very rich people! Especially the director of the visas and the master of cards !!!) You just imagine what a huge flow of capitals went away ....

[darkangel11]

The main reason IMO is the possibility of losing control. When you have property that can be seized and money in the bank you are under the government's boot. You can't go against them because there's always that fear of losing everything. They can block your accounts, monitor the flow of cash, seize property... Even if they won't do it people don't want to mess with them because they can be screwed over.
When you get independent financially you gain the ability of not giving a fuck.
War? -just pack up and go to another country
Crashing economy? - the same
Have problems with the law? -same thing
Are in debt? Bailouts? -you're gone and your money with you.

[aimata27]

For me, the only reason why some other countries ban bitcoin is they're only protecting their own national currency and also concerned for illegal transactions like money laundering activities.

[b3llsf1l3s]

Their government still think bitcoin have a lot of lacks and problem, its like become storage for money laundring, corruption and else.
And lot of speculation and its fluctuactive price make bitcoin not trustful yet

[MakeMoneyBtc]

What governments are you talking about? I think only one time I heard about some country(india) banning bitcoin but that was fake news just to disturb the price. None of the actual governments have took action against bitcoin but they are probably going to do something. Either they will take advantage and somehow apply taxes to it wich is very hard either they are going to block all exchangers and bitcoin atm's. Governments are afraid that people are going to use bitcoin as a salary, as a payment method and they are not going to pay taxes anymore to the government.

[Dannaey]

The very reason is because there are a lot of scam ICOs all over the world and government wants to stop it by banning those proven scam ICOs. Even if there's a hidden agenda about this banning, this could benefit investors to eliminate fraud. And another reason that I see is they want to collect taxes from it. Since lots of money are pouring down and millions of profit are being gained by investors, then they want to collect tax from it.

[monkeydominicorobin]

Many countries are trying to stop bitcoin trading and they have banned cryptocurrency from the country. But why they are doing like this? Where people are going to rich by Bitcoin, They are getting huge benefit by its. Then why government trying to pull down Bitcoin? What is the main reason? Please share your thought.

Thank You

Simply put it. They are envious of Bitcoin. If they never envy Bitcoin in the first place they will just leave it alone.

[adrianto1995]

Many countries are trying to stop bitcoin trading and they have banned cryptocurrency from the country. But why they are doing like this? Where people are going to rich by Bitcoin, They are getting huge benefit by its. Then why government trying to pull down Bitcoin? What is the main reason? Please share your thought.

Thank You

Reason why many countries trying to stop bitcoin trading because every goverment each country just try to save their people to being scammed and loses from investing their money to bitcoin...
that is a reasonable reason i think...

[cobeksede]

Because the bitcoin gambling in my village is very difficult to accept because all people think bitcoin it gambling

[jayco25]

A lot of news that some countries already banned crypto currency for some reason.

1. A lot of ICO are Scam
2. They cannot regulate
3. Tax
4. They protect people from losses

#Datarius

[btcjoin14]

I believe that the ban in many countries is associated with fear! Fear not to control financial flows, fear of openness, fear of scale, fear of rapid development! All are afraid of officials, and very rich people! Especially the director of the visas and the master of cards !!!) You just imagine what a huge flow of capitals went away ....

That might be why most countries didn't officially ban it and have it banned permanently. They're purchasing some coins.

[aeternus]

Many countries are trying to stop bitcoin trading and they have banned cryptocurrency from the country. But why they are doing like this? Where people are going to rich by Bitcoin, They are getting huge benefit by its. Then why government trying to pull down Bitcoin? What is the main reason? Please share your thought.

Thank You

In one word fear, they are fearful, they are going to lose control of the population, governments have done a great effort to create a society in which they have most control of the activities of it, something like bitcoin threatens that, think about it, if someone came to you and asked to hand over your house will you do it? If the answer is no, then this is the same attitude governments have against bitcoin.

[nagiblem]

Many countries are trying to stop bitcoin trading and they have banned cryptocurrency from the country. But why they are doing like this? Where people are going to rich by Bitcoin, They are getting huge benefit by its. Then why government trying to pull down Bitcoin? What is the main reason? Please share your thought.

Thank You

They main reason is that the government each country wanted to protect their economy and they do want to regulate and manipulate the circulation of the crypto currency in their country so that they could even imposed taxes on the earnings.

[glanmarc]

Many countries are trying to stop bitcoin trading and they have banned cryptocurrency from the country. But why they are doing like this? Where people are going to rich by Bitcoin, They are getting huge benefit by its. Then why government trying to pull down Bitcoin? What is the main reason? Please share your thought.

Thank You

They see it as illegal. Because they can't charge it with tax. That's is the main reason why the government in.other country are banning bitcoin. All they think is how to take people's money. They think that public service will make their pockets full of money. So, if they can't charge tax bitcoin. Therefore they will just ban it so they don't need to worry about it.

[faceoff97]

Many countries are trying to stop bitcoin trading and they have banned cryptocurrency from the country. But why they are doing like this? Where people are going to rich by Bitcoin, They are getting huge benefit by its. Then why government trying to pull down Bitcoin? What is the main reason? Please share your thought.

Thank You

There are two basic reason, it might possibly be the threat of crypto to countries economy. Coins were being used for transaction even the illegal one. It becomes threat because  the rate of unwanted activities are increasing. They stop it because many people are also lossing money because of scams. Another reason would be, government is not getting any benifit from it. If thet dont get anything from it, then they wont recognize it.

[sofi@]

Many countries are trying to stop bitcoin trading and they have banned cryptocurrency from the country. But why they are doing like this? Where people are going to rich by Bitcoin, They are getting huge benefit by its. Then why government trying to pull down Bitcoin? What is the main reason? Please share your thought.

Thank You

In my opinion the government banned exchanges not because they don't like the idea of earning additional income thru bitcoin but the fact that it can hide illegal transactions without any way to trace them. Chances are bitcoin can be a way so that corrupt officials can fulfill their illegal acts which government cannot control nor prevent. I think the idea of decentralization is a big issue why bitcoin as well as other alts will find their way to become a legal tender of the world.

[Xanxus024]

The government has not get benefit on bitcoin that is why they want to ban bitcoin, I think government want to put tax on bitcoin but they do not know how to implement it and this not good for the economy so they cannot control it and end up banning bitcoin. We all know some of the users of bitcoin used it for they scheme and government want to stop it.

[Farvin2]

Many countries are trying to stop bitcoin trading and they have banned cryptocurrency from the country. But why they are doing like this? Where people are going to rich by Bitcoin, They are getting huge benefit by its. Then why government trying to pull down Bitcoin? What is the main reason? Please share your thought.

Thank You

That's because each country has its own currency and crypto currency is something new that its regulation has not yet been set by the Government. I think the countries that banned bitcoin it is just fear bitcoin will overwhelm the country currency circulation and reduced revenue from taxes.

[Asuspawer09]

Many countries are trying to stop bitcoin trading and they have banned cryptocurrency from the country. But why they are doing like this? Where people are going to rich by Bitcoin, They are getting huge benefit by its. Then why government trying to pull down Bitcoin? What is the main reason? Please share your thought.

Thank You

We all know how bitcoin couldn't be manipulated by some sorts of government. That is why we tend to create our own civilisation with it. That could be the reason why they tend to stop bitcoin. It is not about the whole thing of virtual currencies but the civilisation.

[rehydrogenated]

Obviously the main reason is governments want to tax you. Second is to protect banks. Somewhere waaayyy last is an attempt to "protect" people from losing money from scams.

Don't worry, most countries will realize that banning Bitcoin is pointless. Most are even going in the opposite direction and encouraging Bitcoin. You see localities that may accept taxes in Bitcoin.