What are the reasons behind banning cryptos?

[rafi035]

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

many countries have negative thoughts about crypto currencies as money laundering, crime funding and other negative news I think crypto currencies are good or bad depending on the intention and purpose of the investor itself in investing

[cewekimut]

Banning the use of crypto is happening in my country. My country regulation is very disciplined and I saw the news about the banning of crypto. The Government is providing information that they fear if the manipulation of money. And they fear if exploited by irresponsible people to finance terrorism. Of course, the Government very alert for such incidents and things like that does not happen. But for me as long as it can be used for good so not a problem.

[thaokhuyen03]

The nature of the blockchain technology and the electronic money is not bad. Images of them are affected by the use of and in the bad pursuits. Because they produce a transparent environment for currency, a fast and cross-country payment form. Each country has its own perspectives and monetary system operators; Accepting electronic money is a very complicated problem. I think it takes a lot of time for this

[judyrob]

Crypto is considered something that is dangerous and can even cause great harm. This is the reason many countries prohibit fundamental crypto for their country. Moreover, also crypto can even be used as a thing to buy weapons in the war because the transactions that are difficult to track. It would be dangerous for the world no doubt. but on the other hand, if use it as investment assets can also generate good value.

[alfimanis]

but if in my country there is no strict prohibition on not using crypto, it's just that the government calls on people to be careful when using cryptocurrency because in the crypto world there is a huge risk, and maybe the government is afraid that there will be a loss in society. which is very big just because of participating in the crypto world

[itasannah]

every country must have their own policy on cryptocurrency. we know that not all countries can accept cryptocurrency, there are many countries that still cannot receive cryptocurrency. a lot of negative issues about cryptocurrency and also the risks that must be accepted as big losses become one of the triggers why a country prohibits cryptocurrency.

[zmkriel]

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

Most common reasons for the government to banned cryptocurrencies are due to taxation. Crypto transactions are not traceable as of the moment so it will be hard for the government to declare tax on each users. And also cryptos can be use in illegal way which scares the government because the transactions can be anonymous.

[matico]

When people or group of people are completely hostile to cryptocurrency, there are many factors in play that contributed to this attitude. One of the major fact is ignorance which will breed fear and result in negative action!

[Sevarchik]

Any ban means one thing: stopping using this instrument.
governments ban cryptos because they himself do not fully understand what is it, and think better if their citizens not use it

[Vargum]

 think the ban on crypto-currency in some countries is mostly due to the fact that the state can not regulate the crypto-currency market, the inability to tax income from crypto-currencies, because the state can not track transactions with the population. I think with time the situation will change

[nicecrypto]

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 totally agree with you. I basically think most governments that have banned crypto know that this can be used by the criminals to move monies around easily without a trace, I once saw a move back in 2015 titled "Hacker" the use of Bitcoin to move money was mentioned in the move and then I didn't know anything about Crypto so that didn't draw any attention to me but years later, here I am and I understood what they did then. so this is the fair of most government.

[itsik78]

The decentralized architecture of financial relations offered by blockchain technology is what really causes aggression and panic in all countries of the world. It is unprofitable for all states that try to control the life of each person as much as possible.

[Rituvohra01]

Every government has different rules and regulations Crytos are invisible. So government  cannot control  them. And government  can't take tax on every  transaction.

[rynanosih21]

The ban on Cryptocurrency in many countries can be because Cryptocurrency has a great opportunity for crime.
The crime is, for example, money laundering, the purchase of illegal drugs.
This reason is quite strong because Cryptocurrency is anonymous so there is the concern for the government in dealing with Cryptocurrency.

[Dianafangki]

think the ban on crypto-currency in some countries is mostly due to the fact that the state can not regulate the crypto-currency market, the inability to tax income from crypto-currencies, because the state can not track transactions with the population. I think with time the situation will change

if there is no supervision and only prepare rules for taxes and what is permitted / not done, then the situation will not be controlled, at a minimum they must get the full role of the local exchange market or actually control total income through taxes, if this is left, then inflation can happen at any time.

[Accts4u2]

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 a lot of reasons as to why some countries have banned cryptos. Some have banned it because they realize that it gives their citizens freedom to use their money anyways they see fit with no control whatsoever by the government. Some have banned it because the transactions are untraceable and they have not found any effective way for them to tax the crypto earnings yet.

[Mikcik]

Because there is no guarantee for the Bitcoin virtual currency, the Bitcoin value is speculative, and the user is at risk of losing the Bitcoin exchange rate unexpectedly. I see governments warn that virtual money can "pose financial risk to those who hold it"

[goku1525]

When it comes to taxes each government want more and crypto makes it more difficult for them as the transactions are invisible. Some governments are afraid of losing control and this is why they are banning crypto.

They banned crypto due to its opportunities and possibilities,the one they supported is bank. Here in crypto there's a chances to grow your money in just short period of time and bank will take long time. Also I, conclude that crypto are no limited fluctuation they undergo beyond with no limits in its prices.

[cryptolidus]

When it comes to taxes each government want more and crypto makes it more difficult for them as the transactions
are invisible. Some governments are afraid of losing control and this is why they are banning crypto.

[lumira555]

There is no control over the turnover of cryptocurrency so some States are trying to ban the turnover of cryptocurrency to their citizens .