Why bitcoin and other cryptocurrencies are banned?

[Snappycoco]

Some banks and corporations said they’re halting purchases of Bitcoin and other cryptocurrencies on their credit cards. Banning it because they don’t want the credit risk associated with the transactions. Some says that allowing purchases of cryptocurrencies can create big headaches for lenders, which can be left on the hook if a borrower bets wrong and can’t repay.

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[daliyuan45]

Some banks and corporations said they’re halting purchases of Bitcoin and other cryptocurrencies on their credit cards. Banning it because they don’t want the credit risk associated with the transactions. Some says that allowing purchases of cryptocurrencies can create big headaches for lenders, which can be left on the hook if a borrower bets wrong and can’t repay.

Not all banks in the country prohibit bitcoin and cryptocurrency, depending on the country. For example, Japan and South Korea allow it, but there are many reasons for prohibition, mainly because the cryptocurrency is not under the control of the state. If it becomes the mainstream currency, the country Can not control the economy, and secondly, the investment risk of cryptocurrencies is too high, despite the high returns, but the government will not allow people to participate in all these.

[bizul]

Any intity that wants to ban gryptos is because they feel it threatens their business model. They want to control everything and increase their profits. Bitcoin showed them how much it can grow so now they either ban it or regulate it for their profit.

I believe the next era will be taken by privacy altcoins as they are immune from regulations. One that comes to mind is DeepOnion. Anonymity through Tor and decentralized among many other features. The coin is being distributed publicly for free via airdrop and the mobile wallet is ready and being tested as we speak.

[Pursuer]

Some banks and corporations said they’re halting purchases of Bitcoin and other cryptocurrencies on their credit cards.

this does NOT mean bitcoin is banned!
the only thing this means is that some company or bank decided they don't want to offer certain services. you can simply stop using those companies or banks and switch to some other places!

Some says that allowing purchases of cryptocurrencies can create big headaches for lenders, which can be left on the hook if a borrower bets wrong and can’t repay.

this is 100% pure bullshit because that is why credit cards exist in first place and the credit card companies know this and are doing it because it is very profitable for them, specially if you can't repay on time.
they are pretending it is because of this to hide the fact that they are scared of bitcoin.

[ArnoldChippy]

Some banks and corporations said they’re halting purchases of Bitcoin and other cryptocurrencies on their credit cards.

this does NOT mean bitcoin is banned!
the only thing this means is that some company or bank decided they don't want to offer certain services. you can simply stop using those companies or banks and switch to some other places!

Some says that allowing purchases of cryptocurrencies can create big headaches for lenders, which can be left on the hook if a borrower bets wrong and can’t repay.

this is 100% pure bullshit because that is why credit cards exist in first place and the credit card companies know this and are doing it because it is very profitable for them, specially if you can't repay on time.
they are pretending it is because of this to hide the fact that they are scared of bitcoin.

Yes everyone has their own policies, may be some people are banning bitcoin in their companies, while some people are accepting bitcoin, they are even accepting bitcoin for payment method and also like to pay in bitcoin to their works, and hope that in future more and more companies will start using bitcoin in their business for different purposes.

[buytheeffinD]

Some banks and corporations said they’re halting purchases of Bitcoin and other cryptocurrencies on their credit cards.

this does NOT mean bitcoin is banned!
the only thing this means is that some company or bank decided they don't want to offer certain services. you can simply stop using those companies or banks and switch to some other places!

Some says that allowing purchases of cryptocurrencies can create big headaches for lenders, which can be left on the hook if a borrower bets wrong and can’t repay.

this is 100% pure bullshit because that is why credit cards exist in first place and the credit card companies know this and are doing it because it is very profitable for them, specially if you can't repay on time.
they are pretending it is because of this to hide the fact that they are scared of bitcoin.

Of course they have to site customer safety, where they supposed to honestly say "We are banning use of credit cards for cryptocurrency purchases because we lose our control over you when you do this". Tough spot but you gotta give the public the PR bullcrap and worst part about it, is that you know majority of people probably ate that shit up left, right, and center.

[Roukawa]

Some banks and corporations said they’re halting purchases of Bitcoin and other cryptocurrencies on their credit cards. Banning it because they don’t want the credit risk associated with the transactions. Some says that allowing purchases of cryptocurrencies can create big headaches for lenders, which can be left on the hook if a borrower bets wrong and can’t repay.

Not necessarily banned in all banks, there are some banks that accept bitcoin and other cryptocurrency like in my country.
Maybe, one of the reason why the banks prohibited the bitcoin because bitcoin is a volatile and the banks don't want to risk theirselves and the lenders. The banks also think that if they will incorporate bitcoin in their system, maybe anytime they will lose profita that may lead to their bankruptcy.

[AnnaGeraMsk]

Many prohibit bitcoin because of the outflow of capital, and that would not come the crisis, the state restricts and introduces it unhurriedly! Well, if, of course, you have very high inflation, then the state opens its crypto-currency at the state level, of course, everyone will come to this, but now they are doing it with a weak economy for inflow of new investments

[khaled0111]

Some banks and corporations said they’re halting purchases of Bitcoin and other cryptocurrencies on their credit cards. Banning it because they don’t want the credit risk associated with the transactions. Some says that allowing purchases of cryptocurrencies can create big headaches for lenders, which can be left on the hook if a borrower bets wrong and can’t repay.

Those are just excuses to ban Bitcoin.
The real reason behind banning Bitcoin and other cryptocurrencies is that those digital currencies can harm their business and minimize their profits, besides, they will have no control over their customers and thus, they will not be able to manipulate them.

[Tharel]

Other countries have expressed their negative insights about cryptocurrencies. Since no one regulates cryptos like any other financial institution which are being regulated by the government, these countries find cryptos unsafe and volatile which means that your money may burst or disappear at any given time. In addition, these cannot be taxed by the government since they have no control over it. These are mainly the reason they banned cryptos.

[Manoharachan]

I think this prohibition is due to the fear of banks and companies because of the other bitcoins and cryptocurrencies that do not have a stable price, which is very harmful to them.

[czhen]

Major banks across the United States and Britain stopped buying crypto on credit, giving harder blows to crypto investors using credit cards to fund their crypto money investments, which typically involve the exchange of some fiat currencies - currencies that the government has been declared legal - for funding digital currencies such as Bitcoin or Ethereum.
Banks are worried that customers who buy cryptocurrency, whose value rose sharply last year, will suffer heavy losses as the value of digital currencies has plummeted in recent weeks.

[ClownSpider]

Bitcoin is not banned.
Allowing people to buy bitcoin with CREDIT is stupid, and they don't want to deal with that.
Can you buy gold with your credit card?  Im talking about gold bars.  Not jewelry.
You see my point.

Banks that "banned" the use of credit to buy bitcoin, did not ban the use of cash, or debit cards to buy bitcoin.

[vhhjhju]

Banks because of Bitcoin, their profits have been reduced, the government can not control the cryptocurrency, all these reasons are they banned cryptocurrencies, and their external reason is that the cryptocurrency risk is too high, afraid of the interests of the public. This is their practice.

[Velkro]

Some banks and corporations said they’re halting purchases of Bitcoin and other cryptocurrencies on their credit cards. B

They are scared. They use excuses like laudering money or child porn, sometimes drugs etc. Just key words they can explain they behaviour.
They will loose this battle, Bitcoin is global, Bitcoin is already here, developed with super computer backing it.
We won!

[SaShiRaJaVu]

Some banks and corporations said they’re halting purchases of Bitcoin and other cryptocurrencies on their credit cards. Banning it because they don’t want the credit risk associated with the transactions. Some says that allowing purchases of cryptocurrencies can create big headaches for lenders, which can be left on the hook if a borrower bets wrong and can’t repay.

The reason why the banking system wont allow people to purchase crypto currency through credit is simply because it is volatile and if people start investing in it and if they are not able to repay because the price went down would be a disaster everyone is curious about and so is the reason they are implementing these sort of things and that does not mean that they are banned.

[Georgi99]

Some banks and corporations said they’re halting purchases of Bitcoin and other cryptocurrencies on their credit cards. Banning it because they don’t want the credit risk associated with the transactions. Some says that allowing purchases of cryptocurrencies can create big headaches for lenders, which can be left on the hook if a borrower bets wrong and can’t repay.

it is difficult to ban cryptocurrencies everywhere, maybe they are banned by any state, but States can not manage cryptocurrency and it is impossible to stop the cryptocurrency system itself, it is necessary then to take away from people the Internet and electricity in General!

[Boysen]

There are numerous reasons as to why bitcoin and most of the time a lof of cryptocurrencies are banned in some countries. One of which is the lack of viable and factual knowledge. Because everything is controlled by the media at this day and age, even heads-of-state could be manipulated by the mass media and therefore be made to turn their backs on bitcoin. Another is tge fear that bitcoin might destroy their economy.

[Deathgamer]

Because some people and the almost lf the Government against bitcoin and other crypto currencies the reason why it is being banned because they say that it has no tax and it is being used by terrorist and druglords in their illegal transaction.

[Deathgamer]

Because some people and the almost lf the Government against bitcoin and other crypto currencies the reason why it is being banned because they say that it has no tax and it is being used by terrorist and druglords in their illegal transaction and scamming.

[Kokondao]

Whereas I understand that using bitcoin for everything is very profitable, let alone payments for employees or credit, because we can experience profits in the time of rising bitcoin prices.

[yesuidanggan]

BTC and digital currency threaten Banks, so Banks are not allowed to buy bitcoins and other encrypted currencies on their credit CARDS!

Some of the ICO's fraudulent credit card holders may file charges and objections!

[leonardian_project]

The problem with permissionless, public blockchains is that anybody can sign up as a miner – which means that there’s nothing stopping criminals from doing so.Not all mining enterprises are criminal, of course. There are plenty of people building mining businesses that are perfectly on the level. But that being said, there are many different criminal pursuits that can leverage mining.Tax evasion. Money laundering. Funding terrorism or other illegal activity not directly related to cryptocurrency. But the most nefarious of all criminal motivations: illicit cryptomining.