Why lot of countries do not allow to use Crpto?

[pro army]

Probably one of the reasons can be that they are just not understanding the process of accepting cryptocurrencies, and they are not familiar with the positive aspects that they have, imho.

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[sweetwine]

There are several reasons why the country do not allow to use Crypto:
+ Firstly, the crypto now is hard to handle so the government can't monitor all of transaction under cryptocurrencies.
+Secondly, Its price is not stable , there a lot of speculation in the market.
+ Thirdly, the crypto currencies affect directly to the banks system. The investor tend to invest to money in this market than the banks because its profit is larger.

[Dark Sky]

There are several reasons why the country do not allow to use Crypto:
+ Firstly, the crypto now is hard to handle so the government can't monitor all of transaction under cryptocurrencies.
+Secondly, Its price is not stable , there a lot of speculation in the market.
+ Thirdly, the crypto currencies affect directly to the banks system. The investor tend to invest to money in this market than the banks because its profit is larger.

yes many government scared about banking system and that;s why they didn't accept this currency and secondly they thought that scammers can easily get benefit so they are want to any terrorism in their country  but if they think that this currency can change a person's life and remove all of problems from their life which was not possible in job so i think they will want to accept crypto because this currency can improve the economy of every country and their country's people can start physical business and that's why poor people will join jobs, so i think banks will not affect by it. 

[Anait]

Countries fear that cryptocurrency might affect the growth of their own economy as well the usage of their own country currency. Countries which has undergone a series of research as well study will have known better about the evolution and the true need of it. Looking upon those countries can expect more countries to support cryptocurrency in the coming years.

[adzino]

There are few countries that have banned the usage of bitcoin. The list is actually very short and those countries are actually very under developed and filled with corruptions. I guess you got misunderstood the sentence "not a legal currency" and took it for being banned. Most countries do not recognize bitcoin as a legal tender or currency. This does not mean that they called out bitcoin as illegal and banned its usage. You can still use it as you like.

[Afonos]

There are many reasons behind this.But government knows well.May be government think that the economic problems will be faced for it and money will be reserved.People are going to make loss in their investment.For those reasons,a lot of counties don't allow to use crypto probably

Because the government is scared! Fear cannot control the digital financial system because decentralized P2P systems make transactions untraceable if there are no reports. The government wants the financial system monitored to prevent financial crime, besides that the government must also get taxes to run its government and for infrastructure development. Without tax, a country goes bankrupt.

[gudrun]

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?

Your thinking is aligned with a tax-free economy and competitive. Exchange in all markets is always accompanied by taxes. Taxation is the source of government revenue, if bypass the government tax will not be able to survive

[rccirfan]

Many countries fear that digital currencies like bitcoin will pose a great threat to the financial stability of their nations economic system.

This concern of regulators is born out of plans by mainstream markets to offer trading in the currency's future.

[gerald246kru]

Lot of countries do not allow to use cryptos because they were afraid on the negative effects on it like cryptos maybe use in funding syndicate, these cryptos will become bank competitors and the government have not yet study where they will get taxes out of cryptos.

In my opinion, instead of being taxed from a bank, they can tax crytles. Earn income from crytal taxation and bring the economy to a new height. This is completely reasonable and can be drunk in the future

[Phophobobooo]

 We can buy and sell crypto on market and get money back to the bank. Government is find the way to control crypto, they already know how potential it is and its application.

[PiPiNoooo]

Some country's ban cryptocurrency to avoid tax evaders to become more rampant. It is quite easy to convert fiat to bitcoin. And once fiat has been converted to bitcoin, the government has no power over the individual's money anymore.

[suryana]

There are few countries that have banned the usage of bitcoin. The list is actually very short and those countries are actually very under developed and filled with corruptions. I guess you got misunderstood the sentence "not a legal currency" and took it for being banned. Most countries do not recognize bitcoin as a legal tender or currency. This does not mean that they called out bitcoin as illegal and banned its usage. You can still use it as you like.

Most countries prohibit Bitcoin they didn't forbid us to invest with Bitcoin,
they just forbid we use Bitcoin as currency when the transaction.

[kniheant]

because they see it as a threat already considering the innovative things it can do to a country after a long while. A lot of countries has already banned bitcoin to avoid any possible casualties in their government and in their economy though there's no such cases yet. Maybe if they will only give crypto a chance, greater things might happen,i hope that in future cryp will use large like monney!

[Chorsday]

The government will not allow use of Cryptocurrency unless they have a full knowledge of it, how to harness its full potential and more importantly, how to control it. Blockchain technology keeps changing at a fast pace that even the government is having a hard time of keeping up to it. It will probably take another 1 to 5 years before any country will officially accept the use of Cryptocurrency.

[miramax-10]

As for the countries that have banned circulation and mining of the crypto currency, here it is rather a formal hitting of the crypto currency as a financial asset under the restrictions of investment legislation or anti-money laundering legislation. Perhaps these countries will later return to the issue of regulating crypto-currency, when more development of the country will develop adequate legislation and there will be positive examples of regulation and taxation.

[yusupjatigumilar]

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.

maybe on the one hand, that's why there are several reasons why many countries refuse the use of crypto and bitcoin currencies, there is one more thing that might make the government reject crypto currencies is that they are not ready to apply the technology used by crypto currencies

[jujurloe]

there are many reasons for the state to reject the presence of crypto in my opinion. because of the high crypto volatility they fear backfires on their economy, they are also afraid that crypto will become a money laundering tool for crime purposes and many more their complaints

[LigwagGanern]

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?

Countries do not allow crypto currency because they think that it is their enemy. Government needs taxes and crypto currency don't have taxes. If they accept bitcoin, where did they get fund for their projects, activities, and other things that they need to do for their country. We are hoping that someday many countries will accept bitcoin.

[tooklau]

I said because Trump can you understand? After Trump took office, he implemented trade protectionism, which led to the loss of money in other economies, and all countries rejected the cryptocurrency. But this is all open for the future.

[Xlady]

Bitcoin and Crypto, in general, are still anonymous and ultimately can be used for fraud. The advantage of the Blockchain is still the disadvantage. And again, the Volatility of crypto is still high. Governments wouldn't want its citizens to lose all their funds one day just because of an unfavourable news. With the way Crypto is going now, people will need to see it for what it really is and not a get rich scheme. This is will reduce the volatility and ultimately will be adopted.