What are the reasons behind banning cryptos?

[weertgilders]

Cryptocurrencies are kind of digital assets which can not be controlled by the central authority, at least for now. For the government or any central authority to legalize cryptocurrency they need people to pay taxes. But the problem is government can't control the flow and cannot know who is holding how much digital assets that's why they can't regulate taxes. I think this is the reason why many countries banned cryptocurrency. Also there are other reasons like buying illegal drugs and weapons with cryptocurrency.

[andor.gellenhidi]

I do not understand what can be the benefit of this, because I do not understand how people approach this I understand. Crypto currency is a great opportunity that is already very well used today, I think that it will be connected only with the theory.

[groverconstructions]

There are many reasons behind banning cryptos.. but i think the main reason behind it is money laundering  which is dangerous also. on the other side its also effects the western money transfer business, where govt. can look on every transactions from where money comes and go and govt. also earn something too.

[titan20]

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 that crypto coins are decentralized and governments can not control them. They want to impose regulations on markets, which is not so easy, and they are forbidding them.

[bangdol]

some countries prohibit it because crypto regulations are still very few who study him. In addition the crypto can affect inflation fiat currencies against the effect on a country. Thus some countries do not accept the cyptocurrency .

[pungopete468]

I do not understand what can be the benefit of this, because I do not understand how people approach this I understand. Crypto currency is a great opportunity that is already very well used today, I think that it will be connected only with the theory.

it has become a natural thing if there are parties who do not like the development. like the central bank on average rejects this development

[lKSLMNSLKnkndlksnkJ]

The only reason to ban cryptos is to protect the rich elites of this world.  That is the ONLY reason.

The world is treated like an open air prison and you and me are the prisoners.  It got that way because the rug was pulled out from under society very slowly over course of hundreds of years until we find ourselves where we are today.  We are enslaved to debt, propagandized relentlessly, medically abused, indoctrinated from childhood, injected with poisons called vaccines, spied on from every angle, and stripped of any remaining rights if we break any of of their millions of laws designed to keep us under control for the safety and well being of the rich elites.

Cyrptocurrencies (whether started by the intelligence agencies or not) are the first time a ray of light has passed through the canopy of pollution and reached humanity in well over 3000 years, and more likely 5000 years.  Electronic money represents the first world-wide paradigm change in how society creates and uses money.  That is the number one reason the controllers are panicking.  After all, they've been in firm control for a very long time indeed.

We are enslaved to fiat money today because up until recently nobody understood the depth of the depravity and satanic bent of the elites themselves.   They use the dark powers here on the planet to gain extraordinary power over everyone else.  I won't go into the details because they are worse than normal people can process, and BTT is not the right place to expose that stuff.

The Governments of the world as well as all the large corporations are owned and run by the wealthiest amongst us.  That edifice represents the locked down state of humanity.  We've been crushed, thwarted, and abused for so long, we've collectively forgotten just how powerful each individual alive is.  Evolution of our race is currently stunted and held back because the way things are is exactly how the wealthy want it to continue.

One thing I will say though is don't be shy about all this.  All common people alive today deserve an opportunity to help themselves.  Trust me when I say crypto will never be endorsed by our controllers until they find a way to profit absolutely from it, just like they do with the dollar right now.

So nowadays represents an extremely rare opportunity for individual persons to find a way out of this mess we are all in if they choose to take that leap and help themselves.  Learning to follow your heart and ignore all the noise going on outside of you will take you a very long way down that path that's just waiting for you to discover.

Best of luck to your and yours, both now and long into the future.

[BartS]

Some countries believe that Crypto may bring confusion to their finances, which may lead to legal risks such as illegal fund-raising, money laundering, tax evasion, etc.

You must learn to not believe everything that governments says, they are always trying to deceive people to try to make them to do stuff that goes against their best interests, while what you are saying is true and the use of cryptocurrencies may lead to all of those problems at the same time it is going to lead to you to complete freedom, freedom from who? Freedom from the governments and their rules and governments do not like that at all.

[amaterazu]

Every country I think is definitely different reasons that Crypto is forbidden. And that is happening in my country was because crypto can be accessed by all people so that more people are making use of this to the benefit to the detriment of the Government. The Government is afraid if the manipulation of money and some funding going to events like the terrorism. And the Government didn't want it all to happen.

[mightwalker]

Because decentralized is the thing that government doesn't want to exist, It's hard to control.

[chienmluc2]

The United States is usually a banned country. This is because the United States has laws protecting investment, which these projects do not meet and can be sued by the United States. This is bad for any project. Some other countries are forbidden because investors have short sight, they are willing to sell as soon as profit goes to the project dead.

[cherepashkis]

I believe that the main reason for the prohibition of cryptocurrencies by some countries is that it can not be controlled

[wivecrypto]

Possibly because of the weakness of the government supervisor, because crypto uses the decentralized financial system. On the other hand also as a place of crime as a place of money laundering and so on. In mining Crypto also requires a large amount of electricity in these activities, resulting in electricity waste and so on.

[wasaisi]

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

A country may not be too fond of crypto currencies or they may be afraid of being replaced by crypto currencies, therefore they prefer banned bitcoin rather than approve it. Because every country must have a different view.

[thaokhuyen03]

There are many problems related to this market, the control and the printing of each country's money will be affected. By finance-Currency is the foundation of the nation; It is hard to accept when it is not possible to manage this technology.

[BartS]

The United States is usually a banned country. This is because the United States has laws protecting investment, which these projects do not meet and can be sued by the United States. This is bad for any project. Some other countries are forbidden because investors have short sight, they are willing to sell as soon as profit goes to the project dead.

This is not completely correct, the reason of why icos are not accepting investors from the United States is the very same reason many foreign banks and many other financial institutions do not want to accept investors from the United States and that is because those institutions do not want to deal with all the regulations that they will have to go through in order to accept an investor from the United States, it is simply not worth it for them.

[zxl912157]

I think a lot of cryptocurrency is used for the wrong purpose.
Suppose to purchase illegal drugs on DeppWeb or DarkWeb.
And also used for smuggling money from corruption in several countries.

[antonhuda]

The government prohibits crypto because it is difficult to control and also crypto price instability. State banks feel that crypto is not needed and many of them think it will be detrimental to fiat later.

[robaya]

The government prohibits crypto because it is difficult to control and also crypto price instability. State banks feel that crypto is not needed and many of them think it will be detrimental to fiat later.

the most important is probably the connection with the tax that will be received. there are some prohibitions actually, some prohibit ico, some prohibit the use of crypto, and many more prohibitions. but there are no regulations that can strongly tie the circulation of crypto which makes the government strongly prohibit it. maybe if everyone who has crypto has valid data like we have money in the bank, maybe the government will give permission to crypto.

[DevelopmentBank]

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

No countries have completely banned bitcoin. They can say that they ban bitcoin but you can never really ban something as decentralized as bitcoin or cryptocurrencies. Anyway, addressing your main point, the reason governments are releasing statements is because the media sensationalizes news and only reports cases where cryptocurrencies are misued negatively. Did they ever report news when bitcion helped people send money from different countries with a very low transaction fee? NO.