Why lot of countries do not allow to use Crpto?

[alroys]

The main reason for a country that does not accept Bitcoin and Cryptocurrency is, because Cryptocurrency is decentralized, or cannot be controlled, cannot be regulated by a country. that makes the state afraid, so it doesn't use Cryptocurrency, because they feel that if citizens use Crypto, the state or the government will not be able to control it.

[Pattart]

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.

I think that is not the right reason for the government to ban bitcoin, because bitcoin is not only a currency but more than that, and after all bitcoin will not take over Fiat? countries like united states actually legalize bitcoin because the taxes they earn can be profitable for them, I think other government should follow us government..

[Napole0n]

Many countries do not like crypto for fear that crypto is used for illegal transactions, some features that support illegal transactions are anonymous features so that anyone cannot track bitcoin users.

[Kelvynn]

Alot of countries do not allow to use of crpto currencies due to main reasons according to their fiscal policies and other economic reasons.this happens  in order to preserve their economy from other economics hardships.also most of the countries do not allow the use of crpto because when crpto is allowed in their countries they thinks it may affect alot of banking activities which may collapse the banking sector and leads to economy hardship

[Lalafell]

The reason for lot of countries doesn't allow Crpto is to get some tax from their people.Same thing is happened in South Korea,at first South Korean government ban bitcoin in their country.In a short time period ,they announced bitcoin is legal one in South Korea and the bitcoin investors have to pay some tax to the government.

I agree that opinion, we all know that cryptocurrencis is still not allowed in other countries simply of the tax and we all know using cryptocurrencies is tax free. I think the reason also is they think it is a scam even though it is not scam. However, I hope in the next few years all countries will allowed and accept bitcoin.

[nightxglow]

I think every country has their own reason. As for my country, because they don't think crypto is trustable enough to be used as a payment system or exchange.
Moreover, too many scams happened in this cyptoworld and other negativity like being used by criminal, illegal and other that make them choose not to allow any crypto, especially bitcoin transaction.
That's because they don't want to take any responsibility of anything happened, and think that it's better to use our own national currency. So they banned it. I don't know what's going on in other country though.

[pragna]

Actually many government yet dont know well about crypto still now. So how they allow it. On the other hand some government fill that if they open it they could not control it as a result corruption will work into financial market. Some government think that it will be out of tax and people will use it in black market as a result violation will arise into society. As it is fully new to financial market so all government can not understand actually what will be right or wrong. I think thats why lot of countries do not allow to use crypto.

[Phil315]

To me, I don't really blame those countries who have decided not to accept crypto, but rather the greedy elements who are already into Cryptos. Some who joined it very early, have profited already from Cryptos, and now fronting so many fraudulent projects and scam ICOs to defraud the unsuspecting new comers.

[Kayla]

I am sure the state must have a reason why the government forbids the use of crypto. Not just taxes  itself, there may be some things that the state fears. They are: crypto can be hacked, used for crime, the risk is very high for investors, and no one is responsible if there is fraud.
Perhaps the most fundamental reason is the fear of the country regarding volatility and uncertainty of the crypto currency.
The bank also feels excluded due to transactions without going through the bank, so that it can disrupt the country's income and economy.

[bennypagulayan]

The reason for lot of countries doesn't allow Crpto is to get some tax from their people.Same thing is happened in South Korea,at first South Korean government ban bitcoin in their country.In a short time period ,they announced bitcoin is legal one in South Korea and the bitcoin investors have to pay some tax to the government.

I agree that opinion, we all know that cryptocurrencis is still not allowed in other countries simply of the tax and we all know using cryptocurrencies is tax free. I think the reason also is they think it is a scam even though it is not scam. However, I hope in the next few years all countries will allowed and accept bitcoin.

Most countries do not accept cryptocurrency because they do not want all transactions to be public on blockchain, anonymity also makes the state unable to collect taxes on exchanges. But now there are more countries accepting cryptocurrency as a currency and applying much blockchain technology in management.

[Hkim21]

tax is the most important thing in government, it is a great source of state income, perhaps the government anticipates the presence of bitcoin as an effort to increase development for its country through taxes. I think it is a wise move, as long as the internet is still there and the web related to bitcoin is not blocked by the government, I think there is no problem to invest.

[Kamote_1102]

I think it's because the Government has no control over the Cryptocurrency. Crypto is not obliged to pay tax since they are not under of anyone. maybe it's the main reason. second, there is a lot of negative news about crypto, that it is being used to some evil schemes.that's why they don't want their Country to be involved with it.

[Shiro21]

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 reasons why they do not legalize crypto, one of which is the tax liability that is not charged on every bitcoin transaction, this point becomes important considering it is a great source of state income, tax money is used to build the country, if the dominant people use bitcoin then the level of people paying taxes will decrease and weaken development.

[DiabolicAnt]

As I see crypto is a serious danger for some peoples power and influence so they don't allow crypto popularity to spread very fast, elites are just following their interests.

[fight-T]

As far as I think the countries that do not allow the use of crypto may be they have not controlled this market. Controlling the investment of citizens will benefit the nation.

[BitcoinMarshal]

There is no tax for bitcoin so government cannot control the people who use bitcoin. If bitcoin enters in to the country it will dominate the local fiat. There is no value for local currency so this is going to hurt developing countries very badly just because of this they are not allowing but good and positive thing is many countries now working for regulating and bringing this in taxnet which will be helpful for them

[Gameroid]

As far as I think the countries that do not allow the use of crypto may be they have not controlled this market. Controlling the investment of citizens will benefit the nation.

It is not possible for any government to control bitcoin and that can be the main reason that still they are not allowing and making bitcoin as lgal currency in their country. But it is for sure that in future all such countries will make bitcoin a legal currency. Because bitcoin is the need of the modern time and the young generation feel it more easy to use bitcoin instead of fiat currency. Therefore i think that they will very soon change their decision about bitcoin and will make bitcoin a legal currency in their country.

[cruz06]

Because there are lot of countries the banned cryptocurrencies like bitcoin. Cryptocurrencies are illegal for them because it has no taxes but makes people lives better.  They can make an income by just investing and make a huge money than a job.

[Sled]

As far as I think the countries that do not allow the use of crypto may be they have not controlled this market. Controlling the investment of citizens will benefit the nation.

It is not possible for any government to control bitcoin and that can be the main reason that still they are not allowing and making bitcoin as lgal currency in their country. But it is for sure that in future all such countries will make bitcoin a legal currency. Because bitcoin is the need of the modern time and the young generation feel it more easy to use bitcoin instead of fiat currency. Therefore i think that they will very soon change their decision about bitcoin and will make bitcoin a legal currency in their country.

If the generation of the people like 40 yrs old and below will become the dominant generation then the cryptocurrencies will be used because the people who are older than 40 yrs old are not that open minded when it comes to the new technologies or inventions. Fiat money is still good but if we will go for cryptocurrencies then we will have a better flow of economy.

[Sir Cross]

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 not being able to impose taxes on cryptocurrency is a big deal. Taxes are mainly the source of income of a state/country. A lot of people earn huge amounts of money through crypto which could have a great impact on the amount of taxes the government may receive. Some country's ban cryptocurrency to avoid tax evaders to become more rampant. It is quite easy to convert fiat to bitcoin. And once fiat has been converted to bitcoin, the government has no power over the individual's money anymore.