Why lot of countries do not allow to use Crpto?

[Himanshu111]

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 completely agree with your opinion but there are something which is considered beside this point. the government couldn't handle all of the transaction which criminals use it for illegal activities. Crypto currencies are kept by the people around the world so this value of the currency would not be stable. the banking system will be damaged due to the free fee convert currency in the globe through crypto currencies.

Many countries are being suspicious about the use of cryptocurrencies because these countries know that using cryptocurrency can be risky since it is very volatile and there can be some cases that the hackers can hack the system and from there only they can earn a lot of   cryptocurrencies.Cryotocurrencies are decentralised and taxes are also not implied on them.That is why countries do not allow as they are not under the direct control of the central banks.

[bombie1]

It is some European countries that have declared their standing clearly regarding cryptocurrency acceptance or rejection. In developing countries, many of them seem indifferent or have not given deep thought to it whether to accept or not.The way the cryptocurrency industry is moving makes it impossible for nations to resist it fully.They may resist now but they are bound to accept it because the future of all money is here in cryptocurrency.

[CybereyesWinger]

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 see this situation in this way, now there are a lot of projects, and all of them are aimed at improving services, it's cool, but it seems to me that everyone has forgotten about the security of our data, but the block is well protected, but now. I read an article about quantum processors, they are already talking about the possibility of hacking, and what will happen after they become public, and the technology will improve. I began to look, and found an interesting project that is immediately ready to solve the problem of not only quantum protection, but also improve the speed of the entire system as a whole.
   I hasten to remind you of revolutionary projects like Kelvin Blockchain. After all, its uniqueness lies in quantum computing! And this is an innovation! With the coming quantum technologies, the current market must experience many changes. To be more exact, many coins will leave the market, as there will simply be no demand for them, due to the same technological superiority.

[Buladig]

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?

Perhaps the government that is afraid to use crypto is the government that is afraid that its state's economy is weakening because of crypto or also they think from the crypto world there is no income so most governments do not allow the use of crypto ...

[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?

The government of a certain country know's if cryptocurrency will be a good asset for their country or not and that is the reason why government's of the country will not accept cryptocurrency immediately to circulate in their area.

[Gumpfire]

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 think other countries do not allow to use cryptocurrency because they think it is being used in illegal activities such as scams and it will just ruined the economy of a country, which is not all true. Bitcoin and cryptocurrencies has a good benefit to a certain person who are using cryptocurrencies like giving them extra income, so they could pay all of their expenses and provide their needs.

[InvestICO2L]

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.

Maybe it’s such a suitable answer. In fact, when governments accept cryptocurrency, they perhaps get trouble in controlling, a little complicated for them to adapt with the number of people using cryptocurrency. Yep, crypto characterizes its anonymous which may lead to many social problems that harm to life. Some illegal transactions, for example, weapons or some some sorts of illegal activity . We can’t deny the benefit that digital currency brings to many of us, but alongasides we probably face with the big loss if our account are hacked. It goes without saying that, if someday cryptocurrency is accepted in most places of the world, the number of people gives concerned on it will increase and also the number of hackers and scammers will have a rise too. That maybe the reason why most governments don’t allow us to use.

[Henry Sy]

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 way I see the nations are influencing crytocurrency to be restricted are nations who are controlled by the wrong individual or if nothing else have the wrong comprehension of what crytocurrency are or even a wrong comprehension all alone laws.

[marcous]

because cryptocurrency cannot replace fiat money. that's why transactions must be converted into fiat currency. because fiat has legitimate and legal laws.
but if you see some news now the government is starting to look at bitcoin for transactions. because they see the advantages of blockchain technology

[basyang]

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, that is one of the process we could do here. You will trade your coins, tokens, or stakes then if someone buy it they will pay you bitcoin or dollars then you can convert it to your native currency. If the Government accept bitcoin in your country for sure this process will change. I think once cthe cryptocurrency become legal to your country there is so many change will make in transactions.

[mokamoka]

because it is of high risk and maybe out of control for a country.

[Fujiati]

at this time there are still many countries that do not allow to use crypto currency. those who use crypto currencies only in countries that have inaugurated bitcoin. the state prohibits using crypto currencies because they think crypto currencies are scams and have unstable prices, so they are afraid of getting losses when market prices decline.

[Nabilo]

Crypto currency can change their use of fiat which can effect there economy.
In order to develop countries government need money which we give them when paying taxes. Many Countries are afraid people can stop using fiat and move to crypto currency which are unable to control people won't pay taxes it can destroy their economy that's why they're afraid

[bachus]

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?

People are always afraid of something new so probably the reason is that people are not enough educated and understandable to the Bitcoin terms, and they think that it would be harmful for their economy country system.

[jakagintiri]

some countries that forbid bitcoin to flourish in the country are classically justified as not being taxable, afraid of affecting or harming the state economy, or fearing bitcoin to be used as a tool for criminal financing and money laundering, they do not see the good side that would arise if bitcoin is allowed to grow in the country.

[LizZavet]

i think some countries have difficult economics system and using crypto not easy for them. And some politics not yet trust crypto fully.

[Gegege27]

it will affect and go down their economy when the BTC currency will increase

[ngano ba]

Lots of countries do not allow to use cryptos because the government have not been authorized by bitcoin to regulate the crypto currency activities in the country ,so the government will not declare acceptance of bitcoin in the country.

[uchechiboy]

For me i will say that it is because they government is scared of the B T C currency wen it goes up ,because it will affect  their economy

[Dr.Osh]

the value of that currency already decreasing due to lot of international trading , after crypto come , people investing that country in bitcoin and save that money thus their funds decreasing . In India they banning crypto for reason - Decrease of rupee price , lots of scam happens , People us bitcoin as illegal trading . if people use bitcoins , its direct loss of government as they are not getting any tax on bitcoin transfers

Why US bans crypto ?
South Korea also banned
 

I think it is not a big deal because when they will see other countries experience with cryptocurrencies and when they will see that they are having a positive conclusions they can always change their mind.

it's natural that many countries forbid using bitcoin, or other crypto as a means of payment, because they already have their own currency. well, the system will be disrupted when there are other currencies in a country. well, but some countries also support the use of crypto in their country.