Why lot of countries do not allow to use Crpto?

[emmainhouse]

You are not wrong with your math but its about the security and laundering stuff that may come up front. Most of the countries are afraid that huge amount of money might be laundered with the help of bitcoin and thus it may cause the disturbance to economic circulation in that way. It has recently discovered that many cases of mafia has been found who are actually using the bitcoin this way only. This is the biggest and prime reason why countries are trying to avoid the unwanted use. They also want to protect the peoples funds by stealing methods, crypto fake exchangers and schemes etc.

I agree.

[reisuke24]

they can take profit from crypto too. they can invest in here. or make new coin for their country, but is there some country rejected bitcoin. maybe they afraid because bitcoin can make invlation for their fiat. and many reason, from security, or money laundry, and the other. but im sure that is the best choice for its country, to keep growing.

[dovizex]

because they loves money

[Thecryptohero]

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.

They can't understand, that cryptocurrency can have "value", because you can pay by, for example, bitcoin and they don't know, that young generation in the future will pay only bitcoin.

realtalk

[mindfly09]

The reason for lot of countries doesn't allow Crpto is to get some tax from their people.Same thing is happened in South Korea,at first South Korean government ban bitcoin in their country.In a short time period ,they announced bitcoin is legal one in South Korea and the bitcoin investors have to pay some tax to the government.

I agree, because they can't control people to get tax, that's why they don't allow to their country. This is the main reason why some other countries ban bitcoin, because every country needs tax and they afraid that in bitcoin they  won't get tax because no one can control bitcoin. But there are already more countries are legalized crypto.

[mornabo]

With the negative news spread to date it is what makes many countries do not accept bitcoin because they have been affected by the FUD. Therefore they do not want to take risks as their economy will be messed up if using the currency crypto. They think it's better not to take the risk because it will have an impact for the future.

it is precisely the government that contributes to the FUD, in fact the government is familiar with bitcoin, but the threats that bitcoin
gives to governments, changing the way government views, they ignore the benefits to be gained when they legalize bitcoin

[nano77]

many countries can not accept the crypto currency as a legal currency and are used as a payment because the government wants to protect its people from losses and risks that can happen and we know that the crypto currency has a fluctuating price and high risk

[t3ChNo]

Volatility of crypto's value is a risk that every governments are concerned of. Also, they want something to tax with.

[bbnt81]

Crypto is new and not many people can understand it. Even many of us right here talking about it everyday without knowing what blockchain is.
So basically i can tell the goverments dont understand either. We cant expect the people in the governments to allow what they dont fully understand, too risky for their nations.

[Raiden0729]

For a certain something, if a nation isn't exceptionally rich like any creating nations, they won't acknowledge digital currency since it is excessively shaky and would profit. Next, possibly their fiat itself is frail, presenting another money in their coubtry would debilitate it more. These are only a portion of the reasons I could consider on the highest point of my head.

[EzBreezy]

As you can see, countries who prohibit the use of bitcoin are those who are concerned with their people and afraid gaining their money back. Some countries allow the use but other banks in such countries banned it anyway.

[Sengoko]

because they do not know what is bitcoin and they are also scared because bitcoin are useful right now and many payment's method by using a bitcoin. many bank are not allowing also if you widraw your bitcoin to the bank they have many question's too you where did you get that money.

This is not fault of these banks as they are just following the country rule. When bitcoin is illegal in a country then definitely they are right at their own aspect that where you get these bitcoin from as they are not under the rule and law. This is basic step to be taken by governments of these countries to impart a legal aspect to bitcoin so that it can be dealt easily and openly.

[tranquangvinh]

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?

You may be right but many countries ban bitcoin because bitcoin is a decentralized platform, and they can not control transactions that can increase criminal activity such as gambling, ...etc I think if their country can not solve those problems , the best way is still  to ban  bitcoin  .

[Starving_Marvin]

I was thinking that those guys were sitting in the government's of those countries which forbids Bitcoin, just are having a lack of knowledge and education about the principles of blockchain operating.

[dongyi17]

This thing is new to them, new system and technology and they are weighing it up, examining every single details of it its not that they don't accept it its just that they think it will affect their socio economic system and also bitcoin is decentralized, they cannot control it. There are also many process to consider before accepting it.

[Bountyl]

The fear of undermining the economy is impressive. This is the main reason why everything is happening now in the world of crypto-relations and countries with their imperfect laws. Unfortunately, this will be so long and I hope that justice will win.

[dewildance]

The reason why the states do not allow is usually the money laundering problem. In addition, it is also the countries that show their nominal currencies worthless.

[cheann20]

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?

For me the most common news I see from countries that prohibit cryptocurrencies are that they basically not their fiat currency so that's why it is not allowed to be transacted with other than that is they always related it to being the money for criminals which is simply a dumb assumption to make now..

[Greenkarki]

Lot of countries do not allow to use crypto the reason behind this is they are afraid the growth of bitcoin and people are using it for illegal purpose. There is no tax for bitcoin, so government cannot control the people who use bitcoin. If bitcoin enters in to the country it will dominate the local fiat. There is no value for local currency and the people are using only bitcoin and invest in only bitcoin. Because the profit will be more when compare to other investments.
 

[rerobot]

many countries do not allow the use, for problems they could not manage transactions through crypt