Why lot of countries do not allow to use Crpto?

[thinhthai]

My country is not forbid totally, they don't accept currency as a current money but they don't support. 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

[Unlitinated]

That's because it's out of their control. In their opinion it may increase the shady economy, criminal and so on. Now crypto is considered as a real competitor to government currency. At this is indeed so. Though the exchange between two different cryptos may spur the demand for internal state currency it is impossible to be taxed. What's not be taxed = opposition of government.

[Kingsingle]

Because crypto has a lot of inadequacies and risks, it is possible that in the future many countries will see the benefits that the BTC provides and they will accept the BTC as a tool in their economy.

[roseann072518]

maybe it is illegal because they have not seen the beauty of their country through crypto .. crypto is one of the good thing happen on our word its a big help not for the investors, rich people or poor its for all who appreciate crypto

[MondayTraddd]

The value is decreasing and a lot of people do not want to engage into this.

[lunnatic]

Lack of regulation cryptocurrency make many countries do not accept it. Government only avoids unwanted things when people use cryptocurrency. And also still quite new because the government's knowledge about cryptocurrency is still lacking.

[Escf4]

Lot of countries do not allow the use of cryptos in their countries , because they do not want to be blame if whatever happens to their money in investing crypto currency from the citizens of their country and if they will accept cryptos in their country, they would like to regulate it as much as possible.

[Bionicgalaxy]

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?

In my own opinion, the reason why a lot of countries do not allow to use crypto is because they think bitcoin could destroy the economy, which is not true. Bitcoin is very beneficial to them because it gives them a good source of income that is why it is true that trading and investing in cryptocurrencies are not that harmful to every individual.

[zubrr51]

I think that countries that do not yet implement crypto-currency regulation will seriously lag behind in their development.

[danim1130]

Some of them are just protecting their financial income like in the BANK china has nothing to do with bitcoin or in any cryptocurrency so that's why they banned it in their country.  Some of the countries also not allowing it because many of their citizens get scammed by other people.

[Gdra467]

It's quite difficult for governments of countries to just accept any technological breakthrough, especially when this technology is capable of liberating people. Bitcoin is one of such technologies that has the power to disperse monetary power to the ordinary people so you just can't expect governments to accept it easily. No government can ban strictly ban bitcoin anyway.

[kangbasir]

government authorities around the world think bitcoin attracts black markets that can illegal illegal bitcoin transactions because it is not a legitimate means of payment for the common currency in general, there are a number of currencies, but not officially supported by the government.

[BertoloyBTC]

The is the truth there are countries that does not allow to use crypto for the government that if this crypto is legit to be use in each country ,it will be properly monitored the crypto transactions and they will regulate it according to the laws of the state ,so that they will not also to be blame by the citizens who are using it in their country.

[weblaraveluser]

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 that will not be able to handle the grow of cryptocurrency because their own economy is not doing good due to some specific reasons and that's why the government are not allowing their own country to interact with cryptocurrency.

[Ailmand]

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?

From where I look at it, I think that many countries do that because they just want to safeguard their people and citizens to the horrors of investing in the cryptocurrency market. Although it has brought lots of people profits beyond our expectations, I think that it has its fair share of difficulties and lows that could make any investor doubt its legitimacy as a market much more a government. So, as a contingency, many governments just altogether regular or control cryptocurrency-related activities just to ensure that their people won't even try to do business in it, and in turn, protect them from the many negative things that could happen.

[Umuoji]

I think that the reason whynlotsnof countries does not allow the use of crypto for its citizens is because the crypto space is so unpredictable and they ate trying to protect the interest of there citizens

[Rhegar011]

1. They don't understand Crypto
2. They don't want to take chances with something that is so new
3. They are scared of decentralization

[acheampong64]

1. They don't understand Crypto
2. They don't want to take chances with something that is so new

That's it! Simply that! They don't understand the technology and what they want to do is that, they'll ban and study. After that they'll reconsider their stands. China did same and I read an article that said they want to bring regulations next year. India also said it's reconsidering the RBI's stands.

[rainezerr401]

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 already knew if cryptocurrency will be good for their country or not and that is the reason why not every government does not want their own people to invest on bitcoins

[3la9l_kolbaCa]

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?

From where I look at it, I think that many countries do that because they just want to safeguard their people and citizens to the horrors of investing in the cryptocurrency market. Although it has brought lots of people profits beyond our expectations, I think that it has its fair share of difficulties and lows that could make any investor doubt its legitimacy as a market much more a government. So, as a contingency, many governments just altogether regular or control cryptocurrency-related activities just to ensure that their people won't even try to do business in it, and in turn, protect them from the many negative things that could happen.

Bitcoin is decentralized and other countries are accustomed to a system that has central command, because they find it safer and more secure. Furthermore, I believe that they lack understanding and proper education of how beneficial and profitable bitcoin is. Undeniably, bitcoin is the king of all cryptocurrencies, yet it's highly-volatile. They may be afraid to engage since its economy is still young and developing.