Why lot of countries do not allow to use Crpto?

[musdafakfl]

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?

Not only is it a new technology yet, but it also has a moth that can destroy the banking system, the cryptocurrency market. In addition, the fact that there is a new market and that there is no regulation is also shown among the reasons for these prohibitions. Of course, the amateur investor has to take measures like this because every jumper he jumped into the well. We can be confident that everyone will be able to act in a well-informed manner, which will not require any bans.

[CodyAlfaridzi]

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?

It barely has anything to with the economy I think. Most countries ban crypto because of its anonymity and potential use for money laundering. I would say that the govt must love to regulate the exchange and trading part because it would generate tons of tax money. But they are taking careful steps on it, they want to make sure they understand the technology correctly before enforcing any regulation.

[money_amount]

I think there are many countries banned from investing in this market because the government can not control this market. If people deliberately invest in this market to evade paying taxes, money laundering, crime. But this is not controlled so the country's new government prohibits this market.

[Tatzky]

It was the problem of adaptation maybe, they are still balancing the good thing it can do and the bad romours about them or how their government can also join block chain to monitor their people and many more reasons...

[Hero of Legendary]

It's not about the government is unable to put a tax on it, they can actually do that in some ways, I believe the reason is the government until now can not give their final decision for crypto currency regulations but it is still under observation on how this platform be in use effectively.

[crazycatwoman03]

It's not about the government is unable to put a tax on it, they can actually do that in some ways, I believe the reason is the government until now can not give their final decision for crypto currency regulations but it is still under observation on how this platform be in use effectively.

In our country,  bitcoin is not regulated but it is being put into observation because the users here are increasing. The bad news about it is also growing since it is used for fraudulent actions so I am afraid that it will get banned in here also. I only hope that they are considering the advantage and benefits that cryptos can give.

[webdevmastery]

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 several countries who cannot handle the growth of cryptocurrency because the government is always requiring tax in order for them to get funds but if most of the people are going to use bitcoins then the funds of government might decrease.

[Muzika]

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?

It is because of the treat money laundering, government do not want their people to engage in that kind of act because it is against the law, because of being anonymous here it is easy to steal money without a trace for someone so they prevent it to happen.

[kumala_abi]

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?

It is because of the treat money laundering, government do not want their people to engage in that kind of act because it is against the law, because of being anonymous here it is easy to steal money without a trace for someone so they prevent it to happen.

I think the money laundering in the crypto market is very small compared to the investor's money that is really legal. and there is currently no news that informs the large amount of money laundering in the crypto market.

[Harrisonimo]

To the best of my knowledge, the government of our country only warned as regards fraudulent dealings of persons' involvement in cryptocurrency businesses which could lead to loss of no dey/funds. I believe it is good the government of various countries help to guide and secure its citizens from any form of extortions.

[St4yInTh3D4rk]

I think there are many countries banned from investing in this market because the government can not control this market. If people deliberately invest in this market to evade paying taxes, money laundering, crime. But this is not controlled so the country's new government prohibits this market.

Not many ery very few countires were totally banned the bitcoin in their countries and some have banned it from using as currency and many countries have restrictions in participating the ICOs so we need to be clear in what the status of governments the rumors were the reason for the market to dump.

[Slow death]

What do you think about that?

many countries have a very gloomy political system, and in many countries there is a political elite that commands the country, the political elite is owner of everything that exists in the country and they control all trade and banks. The objective of the political elite is to control all people, so you have bitcoin that is somewhat decentralized and pseudo anonymous and on the other hand you have the very centralized system of the political elite, so they are like water and oil. If you live in a very democratic country then it is easier for this country to accept bitcoin. But in countries where there is a "dictatorship," there is a political elite that controls everything and everyone. so bitcoin will not be accepted in a country like this.

[RyhaniFoyej]

Many countries do not support crypto as it is difficult understand. Moreover As it is a digital system and it works digital method it is secure. For this reason many people use it as an illegal task. Another people do not pay their taxes properly and the government cannot take this apology for the security system. It is really hampers for a country and  its development. For this reason lot of countries do not allow to use Crypto.

[Pancho95]

I guess because it is something that the goverment cant controll. So it is dangerous for both people and economy of the country. You are able to pass every system of bank fee and bank controll about money in crypto. Pay stuff without paying annual fee for country. Anyway if someone does not protect crypto i think that it will fall down the whole system of cryptocurrency. Everyone is gonna at some point to forbidd using crypto.

[biboy]

I guess because it is something that the goverment cant controll. So it is dangerous for both people and economy of the country. You are able to pass every system of bank fee and bank controll about money in crypto. Pay stuff without paying annual fee for country. Anyway if someone does not protect crypto i think that it will fall down the whole system of cryptocurrency. Everyone is gonna at some point to forbidd using crypto.

They don't really like something that they can't control since they want everything to be taxed or they were just too securing their people, a lot of reason, some reason because they don't really trust bitcoin at all so there is no way for them to let crypto to enter their country and not even giving a chance.

[soname12]

In my country, the government does not allow people to use cryptocurrency as a form of payment, but the government still allows people to invest in bitcoin and the crypto market.

[Vaskiy]

Governments of some countries look it as a threat to the growth as it is decentralized. One needs to understand the goodness in it. Some portray it as a source of the terrorists, and all this is just because it being decentralized. Some governments that were opposing bitcoin in the past have come up with plans of adopting bitcoin which shows the growth and acceptance of bitcoin around the globe.

[Ghayoor]

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?

Not only is it a new technology yet, but it also has a moth that can destroy the banking system, the cryptocurrency market. In addition, the fact that there is a new market and that there is no regulation is also shown among the reasons for these prohibitions. Of course, the amateur investor has to take measures like this because every jumper he jumped into the well. We can be confident that everyone will be able to act in a well-informed manner, which will not require any bans.

in my opinion a lot of crypto they are not giving tax and some of them are not legal thats why a lot of countries are not accepting crypto

[magneto]

A lot of countries are just anti-crypto in general, as they see it as a threat to their fiat currency as it takes control out of their hands. As a result, they are reluctant to be honouring bitcoin's legitimacy and would rather ban bitcoin.

Taxation is obviously one of the issues that could potentially be a root cause, but each country that has bans have their own thinking that as outsiders we simply don't know for sure. Some countries that are restrictive economically obviously don't want their citizens to have a global outreach, which could be a reason why they decide to restrict or ban bitcoin altogether.

But to me, not a lot of countries actually do that. Most countries right now are actually striving for regulation instead of restrictions, which is a positive to me.

[Sadlife]

Bitcoin and altcoin investment and trading is not that harmful like what fiat investors and banking institutions always say. In fact in some countries citizens prefers to use crypto currency more than they're monetary fiat currency for example china. That's why some countries refuse to accept it, in fact they can tax it and gain economic growth but the problem is they hate it.