What are the reasons behind banning cryptos?

[Script3d]

every country has its own policies and regulations, I think the government forbids the use of crypto, the government is afraid that the community misuses crypto such as money laundering, drug purchase, and the government does not want its people to be deceived because the government can not control it.

they can just slap people with KYC to see determine if they are just normal people using crypto or some criminals who are trying to avoid tax or steal money honestly it'll be not that hard to catch them if every country is using KYC there would be no way for them to escape.

[AzureDragon]

I think the main reason is impossibility to track transactions within the state. That's why gornments pass laws that impose tax levies on each transaction.
But banning is the last step. However I don't know how is it possible.

[Khalp1]

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 banned because they used for illegal transactions, for flesh trade, for stashing away public money, for funding terrorism.Most countries that are have banned digital currencies in general, also like to have in control the consumer protection and anti-criminal activity that can also be one of the reasons for a cryptocurrency banned.

[Singbatak]

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

I think one here is the news that bitcoin uses for investing in scams invesment. And since it can not be stopped it is that the crypto has been banned so that no longer victimizes other people. But I think what should stop is the scam investment because bitcoin is only used for illegal activities. And bitcoin did not create just to scam people.

[sultanali]

The banning the cryptocurrency  initial coin offerings is the reason because most f the Cryptocurency introduced in the market in the first place panic are actually scams and the scams were draining all of the investment on the market which was depreciating the Cryptocurrencies

[ethereumhunter]

the government is not ready to see the change of the new era from traditional to digital, and they cannot interfere with the process of the transaction, so they decide to ban the crypto. but, if they can learn (which they already did, I am sure about this), the government can also get the benefits from the cryptocurrency, and they can get another income too from the crypto. maybe the governments want to stop the growth of the cryptocurrency before they can create new crypto by themselves and they will promote their coin to the public.

[wayancrypto]

In my country government not ban crypto but crypto only allowed to trade it ,and not allowed to use daily transaction to buy good and service. Issue of money laundry and terorisme make some country decide to ban crypto, because decentralized technology of crypto make possible to make fraud activity. And crypto also possible to replace centralized of bank.

[maiden]

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 country banned crypto for some security issues. And reasons why they banned it  because they use it on some illegal transactions, funding terrorism, and scam peoples money. Some country, They not allowed to used crypto for daily transactions to buy goods and services

[poodle63]

In my country government not ban crypto but crypto only allowed to trade it ,and not allowed to use daily transaction to buy good and service. Issue of money laundry and terorisme make some country decide to ban crypto, because decentralized technology of crypto make possible to make fraud activity. And crypto also possible to replace centralized of bank.

Fun fact is most of terrorism used fiat rather than cryptocurrency, the characteristic of the cryptocurrency itself thats transparent and traceable making it hard for those terrorist to use cryptocurrency
to make a transaction because everyone could simple traces them and reveal the transaction, people are just getting things wrong and having wrong perspective.

[nasipadang]

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

Here are a some of reasons why crypto is banned based on what I read, first because crypto, which is a decentralized digital currency where some governments consider this could affect the country's economy. Secondly because decentralization is the possibility of crime act by users with crypto is getting bigger. Then the three is Chinese governments mainly prohibit crypto and ICO because they protect their citizens from fraud (this seems specifically for ICOs).

[butterflies04]

There is no good reason to ban anything from free men.  Do not accept any one of entity in telling you you cannot use something you want.  As long as your not violating another humans freedom it should be allowed.

[corat coret]

maybe the government in a country banned crypto because the government was worried that crypto would later be misused, as explained by "someone" some time ago who had made a statement that many people are now using crypto, such as buying drugs or being used for negative activities. but actually cryptocurrency does not only have a negative impact, there are also many positive things that can be used in this cryptocurrency, such as for example to make payments easier when buying goods or a product.

[terrific]

As long as your not violating another humans freedom it should be allowed.

But if the country tells you to stop and don't want you to support cryptocurrency, they will ban it.
Some countries have a strong implementation of their ruling and you can't be against that.
The usual reason is crypto's are against the government and it can be used to commit crimes.

[Vit83]

Most of the countries banned ICO's, not crypto and banned them before the regulation. So I think the price will become normal, not overpumped and we will get new people in crypto after regulation.

[keykey1]

These are all attempts to desecrate the crypto currency. In fact scammers do not use it because transactions can be tracked and found faster. Crypto currency is forbidden because they do not want to see people rich.

[virtual_miner]

As long as your not violating another humans freedom it should be allowed.

But if the country tells you to stop and don't want you to support cryptocurrency, they will ban it.
Some countries have a strong implementation of their ruling and you can't be against that.
The usual reason is crypto's are against the government and it can be used to commit crimes.

Previously the crypto was born for payment and was not dependent on government, but then most of it was used for money laundering, so most governments did not like cryptocurrency, but only Japan and Korea. Nations are the two countries I find most active in using cryptocurrency as payment method

[happy weblancer]

The reasons for the prohibition of crypto are clear to everyone: the state can’t control crypto, it can’t have a tax from crypto trading (mining). The state doesn’t like this position, when someone gets big money and doesn’t share it. The state imposes a ban on such actions or seeks solutions to the issue in its favor.

[manvinder030429]

According to my understanding, that is on account of the experts can't track how much money is exchanged out of the nation and how much cash comes into the nation with the goal that they confront issues in the economy. The other reason is, its use for criminal exercises.

[@baoli]

Country is a state run by a head. Crypto is a decentralised system meaning it will be difficult to check and regulate it if allowed. Countries are always scared this will disrupt their convention's system

[Mrcharles]

There are various motives for banning cryptocurrency in some countries. One of the most popular reason is because of the lack of regulation which has made it possible for some people to be extremely rich, thereby posing a threat to the government. Most of the cryptocurrency whales don't pay taxes and the extent of their wealth is unknown. Another reason for placing a ban on cryptocurrency is to protect the citizens from the volatility and scam dominated industry. It's obvious that there are various schemes in the cryptocurrency space that are dubious and established to rob citizens of their investments.