What are the reasons behind banning cryptos?

[orangy]

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 reason is to eliminate illegal activities such as money laundering.

[Angelia46]

Because encrypted money markets can have an impact on national sovereignty.
So this is not allowed by any country, especially small county.

[kulsuma]

Well, as you know that cryptocurrency is based on decentralized process. It is the main reason to get banned from some countries. As those countries don’t allow this process in their countries so for this reason it is being banned. But now cryptocurrencies are being accepted in many places and also many countries are removing regulations from it.

[St4yInTh3D4rk]

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

Some countries think that the crypto currencies will make their national currency to fall so they don't want that to happen that is the reason they are banning and shutting down the exchanges.And other reasons are the it can be used for illegal activities and money laundering.

[dwiady]

decentralization, that is the main reason because with the system it will not be easy to control, and basically the function of government is to control everything

[onlyyou34]

Many countries don't like crypto currencies. The reason for this is a threat to the current economic order. If crypto currency is successful, many rich will lose a lot of money..

[ethereumhunter]

I think the most reason is that they are not ready with the cryptocurrencies and they don't know what they need to do with the cryptocurrencies. I am sure that soon, they will accept cryptocurrencies especially if they can see that their people can get a better life from cryptocurrencies because cryptocurrencies offer a new way to their people to get a new source to make money. besides that, I think they want to protect their people from being a scam by the cryptocurrency which we already have seen before.

[love2018]

Yesterday saw the media exposed a scam ICO project to promote in my country. The state prohibits encryption to protect some blind investors and keep them away from scams.

[bellamente]

I believe that the ban on cryptocurrency is related to money laundering. Many scammers withdraw.

When the state learns to control investors, then the crypto currency will become legal

[tng811]

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 might be several reasons for a government to ban crypto. One of the reason is that they are afraid crypto currency will be hard to control and will benefit the underground world. Also, the current centralized banking system will be in danger, which the government never wants it to happen.

[carriebee]

Many countries don't like crypto currencies. The reason for this is a threat to the current economic order. If crypto currency is successful, many rich will lose a lot of money..

Yes many countries doesnt like about crypto they think it has a bad impact to the economy. Banning cryptos due to lack of education about crypto on how it works and how the users benefited of it.

[yesyes18]

Governments don't permit anything they perceive it's a threat to their economy, but anyways crypto can be used to shape the economy better if regulated properly. Also, there are huge scams on crypto and its decentralization and anonymity makes it difficult to trace bad actors amd hence the governments mostly consider banning to prevent these.

[Jizel]

Everything is elementary - there is no control over the flow of money, because of which, do not go to the treasury of the state. There is no control over who and for whom transfers money, so it is possible to pay drugs, weapons, etc. - Shadow structures. Very great is the possibility of deceiving one side of the other, which leaves citizens not financially secure.

[tony kurniawan]

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

Crypto currency is decentralized and therefore the government can not regulate crypto currency under its control. And the government is afraid the crypto currency may threaten fiat currency, and therefore the government forbids it.

[FreddySelvig]

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 main reason is that governments understand that crypto currency can replace ordinary money and they lose a large piece of pie. All these stories about terrorists or drugs are bullshit . It was always, and there is nothing to do with crypto currency. Cash is much easier to track, so it's pointless

[rajdeep12]

There are many resons for governments to ban cryptos . Some countries banned cryto currency because they think that crypto will make their national currency to fall and
 other reasons are that it can be used for illegal activities and money laundering.

[Ayuluv2001]

well anything that is decentralized will be heavily targeted by the worldwide financial sectors / government because they are unable to control it.

They are afraid their fiat has no use in the real world hence they are creating alot of FUD for investors.

But i still believe blockchain is here to stay because alot of the banks are secretly developing their crypto

[Snail2]

Governments don't like stuff what they can't control but it can have a considerable effect on their financial sector. Also it's easier to prevent bubbles on an unregulated market this way than dealing with the fallout.

[limmousine]

frankly the government is just stuck in an ancient understanding that they always believe. they do not see and do not want to learn the technology of the future and not a few governments get conflict and intervention from local financial and banking companies that force the government to ban crypto and convince the government that crypto is a business full of risk and fraud.

[CaMeRoNy]

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.

I live in a country where cryptocurrency is likely to be a great way to launder money just the same officials! In General, cryptocurrencies hide a threat to the economies of countries.