Why lot of countries do not allow to use Crpto?

[esatceza]

It seems that using Crypto is illegal in many countries. Because it lost so much of the government's interests. They can not control it, resulting in many bad things happening like tax evasion, money laundering, illegal transactions, corruption, etc. So the best way is to ban it.

[ajuelnah akun]

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.

the main reason why there is still a government that prohibits bitcoin in the country is, because bitcoin can not be controlled by any party including the government.

[Valzzz005]

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 isn't blame of these banks as they are simply following the nation run the show. At the point when bitcoin is unlawful in a nation then certainly they are comfortable possess perspective that where you get these bitcoin from as they are not under the control and law. This is essential advance to be taken by legislatures of these nations to bestow a legitimate angle to bitcoin with the goal that it can be managed effortlessly and transparently.

[kripkiki12]

They might be afraid of decentralization too. Governments usually like to take as much control as possible especially in the monetary sector. There is lack of exact regulation in many places as well.

[CaptainKid]

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 purchase of crypto currency and exchange can be in many ways. You do not need to buy for dollars, you can exchange tokens, which you can earn for free on this forum.
But I also believe that the proper use of crypto-currencies and technologies that are associated with them can only improve the economy within the country.

[samsung001sss]

It seems to me that the problem is that the government, a priori, should have information about every person and all his material acts. What property he has, how much money a year earns, how many taxes brings to the state Treasury. It is for this reason that rich people and transfer their large sums to offshore.

[HSRP]

It seems that using Crypto is illegal in many countries. Because it lost so much of the government's interests. They can not control it, resulting in many bad things happening like tax evasion, money laundering, illegal transactions, corruption, etc. So the best way is to ban it.

Many countries around the world prohibit cryptocurrency because they can not manage transactions and exchanges in the crypto market, which makes governments feel very difficult to manage. But still many countries have adopted Bitcoin and cryptocurrency as a kind of asset and payment, used in many services around the world.

[CarnagexD]

What do you mean under 'a lot of'? Google search tells me that there are only less than 10 countries who banned crypto and in all number of countries of the world its actually not so much. In explanation why one or another country banned bitcoin its written that its out of their economical laws. So, they simply do not want to change their laws cause of bitcoin, changing laws is long and expansive process as I know.

Yes, we should quantify our data base on the specific country who Banned crypto currency. THe issue on Banned was been into the history of crypto currency market, not to mention the issue on Hacking, Scammer, and a lot other issues posted against crypto. The government want to Regulate the entry of Crypto currency Digital trading into their country. That's why the news about Banned is all over the news, But it is only limited to the country Critical to Crypto.

[laracastvue]

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 only means that their country cant handle the growth of crypto because government are getting funds on banks and people prefer to invest on bitcoins more than placing their money on banks which can reduce the funds of the government.

[Paka1]

I think countries will not allow to use crypto because the organizer of this bitcoin luck of trusted.If the governments can decide bitcoin will be legalized .

 

[tuhnupeppu]

I think the main reason is that the country doesn't benefit much from it. Cryptocurrencies aren't taxed, this makes it very bad for the country

as they do not get anything out of us. This means slow government services. This is a major problem, but most countries are to disloyal

to it's citizen.

[digitalgame4life]

Most of the countries who dont allow bitcoin and other cryptocurrencies are doing this to keep their money strong, they are scared that people will use cryptocurrencies as a form of payment and use it for everyday life, they are scared that the banks will go bankrupt because of people doing this, banks being bankrupt means economy of the country goes bad although many countries seem to forget that the blockchain adoption will be very beneficial for their country and economy, especially when they invest in bitcoin before other countries do.

[AdamRay]

Most of the countries who dont allow bitcoin and other cryptocurrencies are doing this to keep their money strong, they are scared that people will use cryptocurrencies as a form of payment and use it for everyday life, they are scared that the banks will go bankrupt because of people doing this, banks being bankrupt means economy of the country goes bad although many countries seem to forget that the blockchain adoption will be very beneficial for their country and economy, especially when they invest in bitcoin before other countries do.

Many countries banned Crypto because they were not ready to change their current economic system. I think this ban is like the time they spend researching and trying to get Crypto into the economy so that it works. Do not worry too much about this, Crypto will soon be widely used.

[okissabam]

I think they ban cryptocurrencies because they want to tax it. But since the government has not made the cryptocurrencies legal and cant be taxed yet then maybe that could be the reason why they ban it instead.

[Comino]

The way I see it is the countries who are making crytocurrency be prohibited are countries who are run by the wrong person or at least have the wrong understanding of what cryptocurrencies are or even a wrong understanding on their own laws. The most common news I see from countries that prohibit cryptocurrencies are is that they basically are not their fiat currency that is 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. If only the person with power is smart about this topic or even at least open to change there will be more countries that will make cryptocurrencies accessible to their citizens.

I wouldn’t agree with that. Let’s take Russia as an example. The country is huge, its leader is strong and authoritative, many things are done the other way than let’s say in Europe, but the authorities openly welcome blockchain development. State system of electronic voting "Active citizen" uses blockchain protocol. Recently they developed a system of counting votes based on Ethereum. The program proved to be very successful, and officials plan to expand its use next year. Attitude to cryptocurrency is cautious but not banned.

So... it is not always easy to determine how the authorities of different countries treat cryptocurrencies, especially when politicians try to put them in a negative light. Ironically, the same people talk about the prospects of the blockchain and the need to integrate it into the country economy.

[wiro 212]

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 finds it difficult to impose a tax on the cryptocurrency and also the government has fiat money, the government is afraid if the population prefers cryptocurrency than fiat currency.

[cunese]

Encryption has a lot of uncertainty, if a altcoin network security problems, so prices are likely to continue to fall, so in order to protect the investors reason, most of the government will hit the encryption.

[Ericgreen]

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.

It is matter of time and will last soon. To understand blockchain technology governments need time and till that time they ban likely because of the illegal use and to put black money in crypto. My country has also banned crypto but I am sure they will allow again very soon. Now they are observing blockchain technology and when they complete their observation they will allow crypto.

[Reeas432]

This isn't because they do now not like crypto foreign money however perhaps due to the fact they word the massive numbers of the scammers inside the crypto global and media are exposing it at the same time as including a few bad comments. I trust they one day cryptos can be the reason of the annihilation of fiat money due to the fact crypto offers greater gadget examine to our conventional cash.

[carcas]

If you look at it, it may be possible but it takes a long time to implement such a thing. the government is still seeing the development of crypto this year whether the enthusiasts increase each year or decrease. if more and more crypto enthusiasts then the government in each country will implement the system of trade between countries using crypto.