Why lot of countries do not allow to use Crpto?

[xyandrobot]

The government only forbids the use of crypto like the fiat used in real life. for example you buy food using crypto. all countries already have rules only use the currency issued by their respective countries.

[1713512510]

1713512510

[olafflirik]

Many countries do not want to change. they are used to the old and do not want to changes

[Silberman]

Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?

There are many reasons for this, their greatest fear is that at some point cryptocurrencies becomes so widely accepted that there will not be a need anymore to convert your coins to fiat, if that happens then this means that the money invested in cryptocurrencies will not need to leave the market as it happens now and they will have no way to track or to tax that money.

[david_019]

This is not because they do not like crypto currency but maybe because they notice the big numbers of the scammers in the crypto world and media are exposing it while adding some negative feedback. I believe they someday cryptos will be the reason of the annihilation of fiat money because crypto offers greater system compare to our traditional money.

[AssemblY]

They don't acquiesce to consume crypto because they unbroken expression that it is a better ponzhi design which we moreover falter at stubby, however don't poor news as it is dependable replacing irregular replacing certain that they inclination moreover last adopt this dependable alike over-the-counter countries who had adjusting their mind and adopt crypto already.

[Vs225655]

Many governments simply do not know how to deal with bitcoin. They simply banned him. Although they could and help how to do better for people and for the country as a whole.

[supercanada1]

Some countries are cautious and do not want to use bitcoin or bitcoin because they think bitcoin will make their country different and they have not realized that their bitcoin contribution to the development of their country.

This such disgusting thinking of the people know, if bitcoin is promising them to change their country then I think it is the best thing ever, so instead of pointing a negative sign over it we should take a serious step towards the progress of country by promoting bitcoin and allowing those people who has not job to use bitcoin and earn good amount of money from it. Promoting bitcoin can make the economy of the country really well.

[Akpuv]

I think the government of most countries are just being too afraid of cryptocurrency in a way that it is not supposed to be. They should also look at the great advantages associated with cryptos rather than just always analysing the disadvantages.

[darkphoenix2610]

state wants to get tax. the input and output of the money can not be controlled. also a serious competitor for bankers. also a good way to make money. countries are opposed to it. a money they can not control is troubling governments.

Yes they still not ready and not capable to track down all the money that goes into cryptocurrency and i believe it makes them hard to tax people. Yes and bank sure have a coporate with goverments so i think many goverments are think crypto still not ready for transaction and we cant deny the volatility is not good and it's changes every minutes. But seems like many country are starting to accept what cryptocurrency is and many company are starting to accept it for transaction and i do think soon or later crypto will be accerpted cause after all cryptocurrency do have a value and that means we could do a transaction using it.

Exactly, some countries has an idea of controlling their resources so if crypto will be one of its resources it is possible that they will regulate it and put some law to it and have the use of it for their country, some countries also think that crypto is a threat for them, they did not acknowledge the use of crypto in their society, their ears are closed for accepting it.

[petronus]

Crypto is very risky if everyone has not understood the meaning of investment in crypto. no one controls the rise and fall of prices and the many cases of fraud that occur in the world of crypto. the state will not guarantee for the future of crypto.

[squog]

I think governments want to actually get in to something very safe since they're handling money of their country. We also have to take into consideration if thwy coukd actually control it anytime they want. Plus, countries and governments rise and fall from fiat. So fiat really is in their foundation and they don't want anything threatening that.

[ELOCIN]

Not all countries are in favor the use of cryptocurrencies thinking that it will hinder and destabilize the growth of their economy. They are those country who don't like to be a "rocket scientist" and see whether the result of using crypto can be beneficial to their country or not. They just simply put an exclamation mark right away.

[btsjungkook]

There are probably so many reasons why a certain country will not accept Bitcoin. In addition to tax concerns, there is also the fact that Bitcoin appears too underground with its anonymous and decentralized features. This might give an impression to the government that Bitcoin is only a currency that belongs to transactions under the government radar. And then, of course, cryptocurrency might still be a vague area to them.

[Hannahanto]

Because they are afraid if allow people to use bitcoin they use it for illegal purpose. Mainly the government face tax problem, there is no tax for bitcoin money in many countries. The government cannot control the bitcoin because it is a decentralized currency. Another reason if bitcoin allows means it will dominate the local fiat. People are ready to invest in bitcoin only not in local fiat. The profit of bitcoin will be more than local fiat.

[coinxwife]

Exactly i agree of the saying that is why other countries never allow to use crypto in their countries for some reasons,governments cannot control in their hands the cryptocurrencies which are so popular now in this new generation.,.and also about the tax concern.

[Rossy Akbar]

Most countries think that btc will destroy their economy system which is not true if I see from some country which is accepting btc and use it for all their economy system. They're kinda afraid that btc will create a bad community to hacking their secret to advance their own country.

[crypki21]

They most likely are afraid of the decentralized nature of crypto. The more control the government has, the more happy it is usually.

[Godexists]

for me the reason why lot of countries do not allow to use crypto simply because the government concern on tax.bitcoin has no tax or maybe the government  think that many people will scam or illegal.

[Epimetheus]

state wants to get tax. the input and output of the money can not be controlled. also a serious competitor for bankers. also a good way to make money. countries are opposed to it. a money they can not control is troubling governments.

Tax is the most important thing for any country for their economy growth. Where as crypto are digital currency so its user doesn't pay tax to their government and this thing ultimately affects the country economy. Cryptocurrency provide many advantages and privacy to its user because of this many people use it instead of fiat currency and this thing affects the global price of that nation currency in the international market. Another reason because of which countries do not allow crypto is the association cryptocurrency with many illegal and criminal activities like anti money laundering, cyber crime etc.

[MuffinMaster]

For me the main reason is that goverments still don't know "anything" about crypto and world that we know from everyday use. It will take some years till countries will understand that this way of payments and "store" money is normal and doesn't need to be scam or used in bad ways.