Why lot of countries do not allow to use Crpto?

[Hiltohen]

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.

I think most of the countries think that mostly criminals use cryptocurrency for their illegal activities and to some extent it is right because it is decentralize and the government has nothing to do with it. To control such illegal transactions they banned crypto in their respective countries. But I think it is not good for the rest of the people who wants to make money from bitcoin investment.

[radjie]

most countries worried about people using crypto could have a huge loss because the government can not formalize its existence so that if anyone loses everything there is no accountability from the government, but if the use of cryptocurrency is taxed it is likely the government will take part by facilitating security for its users.

[laravuemaster]

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?

The government know's what is good for their country or not, if the government thinks that cryptocurrency can bring negative feed backs on the economy then they will just prefer to remove cryptocurrency on their country.

[brotherwood12]

IMO , because country are too scared of the bitcoin system and still dont have any regulation about it , like how to get tax from bitcoin and because noone has approve that bitcoin is secure (?) . maybee

[wahyu wida]

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?

The government know's what is good for their country or not, if the government thinks that cryptocurrency can bring negative feed backs on the economy then they will just prefer to remove cryptocurrency on their country.

i think the government just does not have the right policy for cryptocurrency. i am sure they are aware that technological developments can not be prevented, if not now, i am sure later will be legalized as well

[charlemagne_15]

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?

Government do not allow cryptocurrency to circulate in society simply because they see it as a threat. As what you have mentioned above in your example, they cannot put tax on it so they discourage people to use it or even be interested in it. Also, maybe they see it as a negative asset in the economy and in the system they are in.

[yohan09]

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?

Bitcoin transactions are highly encrypted and while they can be track by involved parties, Bitcoin provides a way to keep money and transactions away from the prying eye of the regulators, There is a risk that it could be used to fund crime or illicit terrorist activity.

[umar22pk]

Mostly countries aren’t allowing crypto currency due to some reasons…

1.   No controls on transection of digital currency
2.   Can be used in money laundering
3.   High rate of profit & loss can put negative impact on fiat
4.   Main reason is digital currency is out of tax net

Defiantly there should be more reasons but as I understand I describes above some major reasons for not allowing digital currency by most countries.

[btsjimin]

Cryptocurrency's decentralized nature make it uncontrollable by governments and big companies... unless they started buying all of it.  As we know, governments and big companies like to be in control and continue making profit to stay in power.  Cryptocurrencies give power back to the people.  Governments and big banks see crypto as a threat, this is why they want to make it illegal.  They might claim it is because of money laundering for criminal activity, however if that was the sole case they would have to also make every other form of currency illegal. 

[BitcoinMarketer39]

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 countries who cannot handle the growth of cryptocurrency and that is the reason why government are just banning bitcoins immediately, it can actually decrease their funds since it was tax free.

[tony kurniawan]

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?

The government has fiat money, and it is unlikely the government will accept cryptocurrency, because the government is afraid the cryptocurrency will beat fiat money.

[Btcmaeng18]

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 I agree. In my opinion, state thinks that they don't benifit in crypto. They want also that the crypto gives benifit to the government. They can't control crypto and that's the main reason.

[Poorman80]

I don't think that a demand for the native currency changes its value. There is a great demand for the native currency in any place I think. Too many people are hungry, homeless and some are even sick that needs a great amount of money. Then if so with the demands why wouldn't the government just print any amount of money then to solve the problem and give all the opportunities to become rich? I think that money in the currency that we have doesn't actually hold any value it is what resources that a country have that gives it price. So it is more like a representation of what was actually being held by the government. Same with bank checks, it is just merely a note that represents the actual money given. Now why are they so afraid of  cryptocurrencies? I think it is clear that any misuse affects the economy. Imagine if I owned an exchange and I earned a lot of money from your country, Now I will be going back to my country with the earnings that I have. I think it will significantly change or affect the economy especially if done in volume.

[matanglawin]

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?

maybe it has something to do with the market volatility. Consistent on the market value of cryptos do not exist making it risky to make or use it as an offical currency. A currency should have a stabe market price in order to give equality in the market. This is the downside of cryptos despite of being profitable.

[HiringYou]

Many governments do not allow the use of cryptos in their respective countries because of the decentralized nature of cryptos.As they are decentralized in nature so government has no control on them and the transactions made through these cryptos can't be tracked by any government or bank.So the people involved in the transactions remain unidentified.Due to this feature of anonymous transactions, many people use cryptos especially Bitcoin as a mode of payment in illegal dealings such a drug dealings,ammunition dealings etc.This is the reason why many countries are not supporting cryptos.

[Kurokyy]

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?

The government knew if their country will be negatively affected by bitcoins or not and that is the reason why other countries are not allowing their own people to invest on bitcoins or maybe the government is just corrupted.

[andrei56]

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?

This is not about the economy this is about governments realizing that if cryptocurrencies eventually become successful they will lose a great deal of control over their citizens and their own countries, imagine if bitcoin is accepted in all stores, you could buy something in a grocery store with bitcoin and the owner of the grocery store may decide to not report that income to the government and if that happens they will lose money they could have collected as taxes.

[Yantoaja]

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.

[Ranly123]

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?

The reason for some nation's not allowing cryptocurrencies to be used is to protect their citizens from the risk the crypto has. Introducing a high volatile kind of investment is not what the government want to educate their people. They just don't want their people to take the risk that high.

[Gargo]

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.