Why lot of countries do not allow to use Crpto?

[marcbitcoins]

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?

We can't blame these countries that prohibits the use of crypto currencies because they are just protecting the welfare of its citizens from money laundering, terrorist funding, smuggling and scam investments but i think they overdo it because they only see the negative sides but not the positive aspects of this investment and there is regulation that could protect them.

[Anhmai]

There are many reasons they want to ban electronic money. They are worried about the over-development of electronic money as well as the financial risks that it brings. Speculation, as well as inflation, prompted the government to worry about electronic money. Along with these are the risks of money laundering. However, many countries have begun accepting it and allowing its users to use it but are subject to a tax as well as control of the law.

[eduardoabordo]

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.

[Ridwan Fauzi]

I guess this is the other reason government for who banned the utilized of cryptocurrency. More and more the users change over cryptocurrency with foreign currency then the impact will make money fiat decreased. One of the biggest impacts if this continues the government gives a reason if this will lead to inflation. This is not the reason the government can issue taxes on users of cryptocurrency, but they see the negative impact that will arise on their economy.

[googs84]

Off course it’s not harmful to the country’s economy at all but it’s not useful either.

You are saying that it may help nation get taxes from the crypto currencies and benefit it but that is not the case always.

FYI : The money laundering and criminal activities are now getting seeded over the blockchain because of its so called pseudo anonymous nature.

Government is acting on that part of the activities and trying to reduce it. It could cause disrupted economy rather than circulated one. May be things need to be regulated over there before they can accept it.

[fredo123]

The anonymous nature of cryptocurrencies means that it can be used for illegal transactions such as buying and selling drugs or weaponry. According to central bank officials, Cryptocurrencies can also be used for money laundering or terrorism, There are also instances that cryptocurrencies allows hackers to request ransom payments and stay anonymous.

[Nanashev]

Some government are discouraging bitcoin and other cryptocurrency business because;
1.They perceive it to be a total scam.
2. They do not understand the general concept about the operations of crypocurrencies.
3. They are unable to place tax on bitcoin operations.

[pallang]

Because they cant place tax on bitcoin and maybe some government don't know what help can Bitcoin give to those people who don't have source of income and it also help poor countries solve unemployment.

[weblouartisan]

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?

Most of the countries who are not allowing cryptocurrency to circulate in their area are most likely poor countries like africa, countries that has an unstable economy.

[satana_igor666]

They are afraid of competition from the new currency, which they can not fully regulate.

[zanezane]

Some government are discouraging bitcoin and other cryptocurrency business because;
1.They perceive it to be a total scam.
2. They do not understand the general concept about the operations of crypocurrencies.
3. They are unable to place tax on bitcoin operations.

1.1 Yes they see this as a scam and they say that they're just protecting their people.
2.1 Because they're close minded people and doesn't want a full grown economy as well as innovations.
3.1 We don't have anything to do with this because once government see an opportunity to milk people then they won't stop until they succeed.

[zakariajaki]

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?

I really think your opinion when the purchase of bitcoin should be converted to dollars, I think will benefit the price of the dollar itself, but if it is only as standard price and currency used as international standard price crypto will not be a problem because we can use the currency of the country each to buy bitcoin as well as with liquefaction when finished selling from bitcoin itself, may be useful and successful for all of us

[Yadstiker]

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?

We can't blame these countries that prohibits the use of crypto currencies because they are just protecting the welfare of its citizens from money laundering, terrorist funding, smuggling and scam investments but i think they overdo it because they only see the negative sides but not the positive aspects of this investment and there is regulation that could protect them.

How about to those people who wants to earn money  using crypto currency? It is actually good to so see what opportunity may do to people who actually don't have a regular works and besides it may actually help there needs as what other people does. Well actually you have a point we cannot blame these countries and as what I think they are just avoiding something happens like as what you have said and a lot of people will taking advantage of using crypto for evil intentions.

[Ethreyes]

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?

Yes...  There are lots of countries that didn't allow bitcoin in there economy...  Well for me they have their own reason why they doesn't want it...  We cant blame...  This is our world where scammer is AlwAys everwhere...  Maybe because they didn't trust bitcoin...  Well as a user of it we must be the one who will promote it because we already know how truly useful it is...  After all bitcoin is for everyone...

[toolucky98]

Bitcoin is not under the control of banks,and banks want to stay on top and with no one trying to rival them,and the IMF,using bitcoin breaks this dominance,and governments and banks lose control of it, and more of it because it’s decentralized and therefore isn’t controlled by anyone.

[InKiTy38]

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.

[IMAR]

Being a decentralized system, it will be hard for the government to manipulate.  But once the Government could be able to harness the power of this technology and find the way to channel it for a better and greater purpose, then definitely they will allow it. But for now, many Government is having hard time how to swallow this change, that's why they do not allow usage of crypto. But it will change in the near future.

[SixOfFive]

You might be correct on your calculations but there are many more factors that provoke the countries to not allow the use of cryptocurrencies.
1.   Protection and security issues. The anonymous nature of cryptocurrencies helps the criminals to use it for illegal activities like drug dealing or money laundering, etc.
2.   The use of cryptocurrencies will mean transfer of power on financial sector to the public from the government as these are decentralized and self governed.
3.   The financial institutions and banks will lose their share in the financial market. They charge fees for doing anything related to money which can be eliminated with the use of cryptocurrencies.
4.   The cryptocurrency transactions are untraceable which makes it difficult for the government to keep flow of currency.

[EXtremeAEX]

Maybe you are right. I think the reasons for not using crypto very much. This is something that is so difficult to regulate. Governments have not yet figured out how to collect taxes from citizens for conducting such operations  . But I firmly believe that in a few years many countries will use the crypto currency as their main currency.

[indrakusumaindra]

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.