Why lot of countries do not allow to use Crpto?

[tronghai12345]

The government is greedy. They want to make money out everything possible. A decentralized currency means they cannot place taxing and controlling rules upon it. Which means they do not get anything in return in allowing it's citizens to use cryptocurrencies. This can hurt the government by providing less service since they cannot maintain it but the government isn't always looking for the good of it's people.

[Wayan_Pedjeng]

The government is greedy. They want to make money out everything possible. A decentralized currency means they cannot place taxing and controlling rules upon it. Which means they do not get anything in return in allowing it's citizens to use cryptocurrencies. This can hurt the government by providing less service since they cannot maintain it but the government isn't always looking for the good of it's people.

You are spot on. The governments are getting greedier by the day. Only the air we breath and the water we drink are tax free as of now. And I don't know for how long the situation will remain like that. Here in Indonesia, the taxes are crushing the middle-class people.

[wpc143]

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.

I agree. Some countries think it's too dangerous to engaged with this kind of business due to it's anonymity and the negative reports in social networks about hacking and scamming. And also, there is no concrete assurance that it is safe and secured. So maybe this factors would be the main reason why they don't allow this.

[fomiche]

That is mainly because of misunderstanding. They are against it because they are not able to understand it completely.

[Kapee]

The government for most countries make the argument that they do  not receive any fund from any transaction being made from cryptocurrencies. In view if this, they want to halt every bit of transactions made in the country.

[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?

Not every country can handle the growth of cryptocurrency there are several governments who did not want bitcoins to flow in their country since it can affect their own economy in a negative way.

[victoryana]

The reason that some countries have not allowed the use of bitcoins is because they think that bitcoin will make their economies affected. They fear that there will be many reasons for their national currency to be no longer available. and they are no longer manageable

[suryana]

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?

Not every country can handle the growth of cryptocurrency there are several governments who did not want bitcoins to flow in their country since it can affect their own economy in a negative way.

That right, the countries which do not want Bitcoin existence in their country because they fear if their economy of the country become derailed. People will invest into Bitcoin so their currencies can not be in control of the Government again.

[burakdat]

I do not know if as of this moment those countries still not allow the use of cryptocurrency system on their country. For all i know especially here in Asia that most of the countries here had already accepted and embrace the use of cryptocurrency. However, there are rules and regulations being implemented on this cryptocurrency system for the good of cryptocurrency and for the people who will going to use cryptocurrency system.

[BagzMM]

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 those countries do not allow to use cryto it is because it;s not regulated by them. Cryto currency is decentralized it is not regulated by any authority from the government. They think its illegal for its anonymous to anyone.

[Polkadott]

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 it is in your opinion that transacting or trading using bitcoin or other crypto currencies is harmless and minimal with the risk for those who understand about blockchain technology, but the government does not know that and I also think the government has not legalized the crypto currency because they have not known until as far as you know that transacting with crypto currency no one is harmed

[muhsyakir]

because the state does not get the income from the crypto world so most countries do not allow the use of crypto ...
and countries that do not allow the use of crypto they think that crypto will make the country's economy weak and crumble ...

[Bdstar]

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 also agree with you on this point. I have also some observations regarding this matter that we have to say that many cryptocurrencies are coming to the market whose are false and freak, so a lot of people facing huge monetary loses by investing and participating in the ICO of these false cryptos. that's why most of the government encourage their people not to be involved in this platform because of the uncertainty.

[ucingucingan]

I do not think they are ready to accept the ever-expanding financial technology, they are still afraid that if they accept but can not manage it well it is feared that it will undermine the country's economy

[Cosbycoin]

mostly countries like Nepal and Bangladesh and Pakistan are completely negative against cryptocurrencies

There are so many reasons why do they ban crypto currencies. In the mentioned countries, the ratio of people living below the poverty line is huge and the rest are living so called good lives with huge efforts. This is the reason the government do not accept crypto currency because the people will loose their little earnings in the uncertain market. To reduce the level of crimes in a country, Bitcoin is banned in many.

[melfwaz]

Many countries do not allow to use cryptocurrencies because it helps people better. It makes people rich. It makes them rich faster than getting a job. Investing in bitcoin is the best way to be rich faster than you ever imagined. Using cryptocurrency is not legal in many country because it is not supported by many institution especially banks. They do not allow to withdraw and deposit through bitcoin.

In my point of view there are many reasons for not accepting crypto as legal currency. Some countries have already accepted bitcoin as their legal currency and the rests are thinking about that. The big reason for not legalizing it is because they think that it is used for illegal activities and mostly criminals use cryptos for illegal transactions and it is right.

[Lady Coquet]

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 personal opinion, people do not allow cryptocurrency because they think it would ruined or destroy the economy of their country and they are afraid that cryptocurrency could replace fiat currency and banking. But there are still countries who already accepts cryptocurrency in their country and there are no any bad effects to the economy of what so ever.

[hacekd]

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
  

Different country has a different perception in bitcoin, I guess that was mostly government thinking of that people may be used bitcoin to have an illegal transaction and easy to make any action against the law of the country. And the next is they think also that bitcoin may be the big competitor against the banks near in the future and they can't control it.
Yes, it has a big effect on the local currency, because our local currency is manipulated by our government they know how much the demand and also the value of the foreign exchange.

many of the reasons they say why they are banning bitcoin circulating in their country, there are reasonable reasons for cryptocurrency fraud or can be used for crime and high risk for investors, but the main reason is the fear of these countries will be the volatility and uncertainty of digital currency.

[Sir Legend]

I'm sure that the main factor that causes lot of countries do not allow to use crpto because they have wrong view and not ready to face change, whereas change and revolution is sure to happen, of course the main factor of fear is getting negative news about crypto.

[chromosomes]

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?

Simply because they see it as a threat already considering the innovative things it can do to a country after a long while. A lot of countries has already banned bitcoin to avoid any possible casualties in their government and in their economy though there's no such cases yet. Maybe if they will only give crypto a chance, greater things might happen.