What are the reasons behind banning cryptos?

[ClaytonLWils]

Some countries have already banned cryptos. But i am not sure behind the reasons. Could you please share your thoughts on the reasons of banning cryptos?
Regards

[1714837856]

1714837856

[CoinFoxs]

Decentralization of crypto is the main problem to any country because people use these platforms for criminal activities like money laundering and government officials are unable to trace them because transactions are invisible. That is the reason why government don't support crowdfunding.

[the13thsymphony]

Decentralization of crypto is the main problem to any country because people use these platforms for criminal activities like money laundering and government officials are unable to trace them because transactions are invisible. That is the reason why government don't support crowdfunding.

To add to that it is also impossible for the government of a country to implement taxation in everyday transactions that is happening in crypto exchanges. Unlike in centralized banks where they can implement the taxation in the banks themselves unlike in crypto where all of the exchanges are from different countries.

[CryptoTamer]

Some countries have already banned cryptos. But i am not sure behind the reasons. Could you please share your thoughts on the reasons of banning cryptos?
Regards

Each country has different policies but I think there is no compelling reason to ban cryptocurrency
As far as I know, the noble reason that comes from the regulators is to avoid society from the risk of fraud in cryptocurrency world " for example ICOs " and other criminal acts

[CopMom]

I think the main reason is disadvantages of cryptocurrency . You should know that cryptocurrency is being used so much in dark market and by crimes. Beside there are a lot of people wanna take advantage of cryptocurrency to commit guilty like money laundering, tax evade, selling drug,....I think these countries wanna prevent this problem so they banned cryptocurrency

[jvdp]

Some countries have already banned cryptos. But i am not sure behind the reasons. Could you please share your thoughts on the reasons of banning cryptos?
Regards

Decentralized crypto currencies are really unable to regulate with the government rules or anything mate. They can tried much about ICO and crypto currency regulations but still none of goverment achieved it well.
Then I do not what country you mean that cryptos are completely banned. As of now there is no such countries. Who are banned already opened up again with regulations.

[vasil777]

Some countries have already banned cryptos. But i am not sure behind the reasons. Could you please share your thoughts on the reasons of banning cryptos?
Regards

It seems to me that the main reason for the prohibition of cryptocurrencies is that cryptocurrencies often use criminals in their fraudulent affairs. But I think that after a while these countries will abolish all prohibitions.

[Vatimins]

Some countries have already banned cryptos. But i am not sure behind the reasons. Could you please share your thoughts on the reasons of banning cryptos?
Regards

     There are tons of reasons as to why a lot of countries has banned cryptos ranging from care for the people in their country to personal reasons and hidden agendas. But the reasons that are pretty common are the potential of it being use for criminality or illegal transactions, another would be money laundering, and then there's the volatility.

[madushanperis11]

As per my understanding, that is because the authorities cannot track how much currency is transferred out of the country and how much currency comes into the country so that they face problems in the economy. The other reason is, its usage for criminal activities.

[MISS_nSTASSY]

I think the main reason is disadvantages of cryptocurrency . You should know that cryptocurrency is being used so much in dark market and by crimes. Beside there are a lot of people wanna take advantage of cryptocurrency to commit guilty like money laundering, tax evade, selling drug,....I think these countries wanna prevent this problem so they banned cryptocurrency

If they want to prevent drug selling and tax evade they should activate structures that fight against drugs spreading and different tax services that should control all such money movement. Cryptocurrency is not the magic tablet and with lack of crypto there will not be lack of criminal.
Criminal uses dollar to money laundering, lets ban dollar, ok?
Terrorist uses toilets, lets ban them, ok?
There are other reasons for governments to ban crypto. And the main is possibility of crypto to equalize the difference between rich and poor people. They afraid of it. People become smart(imo), and this is a problem for them. So they "ban" the community this way. But what they are expecting from this action, or they would like to ban the whole internet lol

[vladaziya4]

Yes, it's a promising and good job, where it's interesting to work. They earn well and this can not but rejoice, the most important thing is to please.

[sheenshane]

Some countries have already banned cryptos. But i am not sure behind the reasons. Could you please share your thoughts on the reasons of banning cryptos?
Regards

     There are tons of reasons as to why a lot of countries has banned cryptos ranging from care for the people in their country to personal reasons and hidden agendas. But the reasons that are pretty common are the potential of it being use for criminality or illegal transactions, another would be money laundering, and then there's the volatility.

That's the reason why the governments of some countries keep banning on cryptocurrency and one of that is bitcoin.
Each country has a perception of cryptos some are refusing there are others also embracing blockchain technology which is using the cryptos.
Illegal activities, cybercrime, and others that might make a crimen on cryptos via paying are one reason government avoid this technology.
There is also the fact that might be cryptos will become a big competitor on the bank near in the future that's why government against on these things.

[Denlv]

The reason behind banning crypto in contrys is the economy question goverment,banks is scary to lose control on peoples who push big money in crypto thinking they grab big jackpot but not allways happens like this.Many peoples take credits and lose all then they can pay banks and in country starts influance.

[bozo333]

Some countries have already banned cryptos. But i am not sure behind the reasons. Could you please share your thoughts on the reasons of banning cryptos?
Regards

The only reason is trading, some big whales are investing the black money in Crypto platform it is mainly affected in economic status of some countries so they plan to Regulation and banning of Cryptocurrency but all the countries are not banned in completely. Because it is really useful technology in future so all the countries are accepting in future we must wait see the future market.

[vladaziya4]

I think it was banned because there are a lot of scammers who conduct different frauds in order to deceive people. So beware!

[leetcoiner]

I see several reasons for this. The first is an attempt by the state to regulate the crypto sphere. The second is the isolation of frequent cases of fraud.

[soulstreak]

There have to be many reasons.  The main one being that governments like to be able to oversee everything and cryptocurrencies are often decentralized.  This can make it easier for laundering money and might have an effect on the number of people claiming the wrong information for tax purposes.

[anthinguy21]

There are many reasons for governments to ban cryptos. But personally, I find that the national government is worried that the cryptos will threaten the financial markets and the currency of that country. In addition to the recent cryptos being used by so many people for such a bad thing as money laundering, governments in countries are banned continuously from trading.

[nsasuiteb]

Because they can't regulate it as they wish and no one has major control on it so they choose to ban it, they may see it as a threat as well.

[fracas]

Banksters all around the world and their puppets want the control of money creation, inflow, outflow and transfers in general. Governments are today bankers frontmen seeing that most central banks around the world are private institutions so they have to borrow from them money for which people pay interests. Bitcoin and crypto in general grant permissionless creation and transfer of money so they are a huge danger for those that have money monopoly. That's essentially why they are trying to ban cryptos.