Why lot of countries do not allow to use Crpto?

[btchunter02]

Countries banned crypto because they fear that, this might  cause them trouble not just in economy but also it might be used on money laundering, another reason is the price of cryptocurrencies is unstable.

[1715391551]

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[efxtrader]

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 think cryptocurrency can used for illegal activity. Many government afraid bitcoin or cryptocurrency used for criminal activity because transaction using crypto hard to trace. In many country, government allowing cryptocurrency trade because government believe crypto trading is just for investment.
Many government right now considering to regulate cryptocurrency trading because government must be want to collect taxes from that trade.

[MarieMoore12]

If some countries allow the cryptocurrencies to be legal, they will have to agree not to tax or manage it. But allowing them to be synonymous with the value of the currency goes down.

[cunese]

To put it more simply, there is a mismatch between market value and value. Many hedge funds are betting against eth, and the price of eth should not be normal until the value of encryption is actually revealed.

[regnidorhcs]

I think there are two main things why many governments would not want Bitcoin for their country, their people. First is because it is something that they cannot control. For them, this is a serious matter that they will not be able to control the cash flow, cannot monitor and manipulate it. Second is that, Bitcoin or crypto currency is not taxed, so basically, they will not getting tax from all crypto transactions. So governments will not allow a gold mine as big as cryptocurrency to go on be successful without them getting any benefit out of it.

[skyland999]

yes I am really sorry let alone in my country instead of bitcoin legalization, the reason the country does not want to happen inflation in the future but for me bitcoin is a money alternative to prevent inflation in the next few years

[kidamazo]

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?

Partly, the problem is that we are not having a successful experience from among other countries, which we can align with. So well over people's country will have a year of successful applying bitcoins I think for you, it would be much easier to accept it.

[hulla]

Because the government is greedy. They don't want decentralized currency. It's a lot harder to tax it. And there are major security risks at the moment with crypto currencies. It's easier to just ban it than adapt to it.

The situation of crypto currency been banned in some countries is 40-60% because some cryptocurrency ban are not always the act of government been greedy and I'm saying this because I have seen a couple of government that banned crypto currency in their countries base on the last year and this year crypto currency ICO scam.

[Goodday]

I think the reasons for these countries prohibit the use of digital currencies such as crypto or bitcoin because they are afraid of high-risk natural bubbles and bitcoin is used for illegal activity or still anymore because there are constraints between financial companies and the main reason is the fear of these countries will be volatility and digital currency uncertainty.

[itsik78]

The decentralized architecture of financial relations offered by Blockbane technology is what really causes aggression and panic in all countries of the world. For them, this is a real disaster, as this technology allows you to create an unmanaged database in which all information about everything can be stored. In addition, this data can be viewed at any time by anyone and can not be deleted or changed in any way.

[Dread Pirate Roberts]

Many think crypto too has a big risk of price differences that are considered very volatile. and most anonymous transactions in government eyes are suspicious transactions and allow illegal transactions with crypto. I think it's a natural thing if a country still thinks it. because it is essentially crypto anonymous and free to use for anything .

[Streamlink]

It is obvious that the governments of many countries of the world do not allow the use of cryptography afterwards so that they can not control the flow of money. The flow of money that passes through crypto does not pass through banks that are controlled by the government. Demand and use of the national currency also falls.

Well they have to see that where the profit is so they will not feel fear and they can benefit their economy with the Bitcoin and other cryptocurrencies too. Governments can stop printing more paper currency so that they will save that budget which they use on manufacturing of paper currency so Bitcoin will save that wastage of money for them, now what else they want if the Bitcoin is benefiting them and their people.

[@hosimanaka]

Because the government is afraid of money-laundering criminals, people who illegally use electronic money do not verify the identity of the holder and commit unlawful conduct. So the government will not be able to control it.

[Jrfranco]

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?

Unable to charge tax on every transaction,that would be the obvious reason why most of  the governments does not support crypto currencies. The Transparency of every transaction makes it even more complicated.

[k1ng0fBTC]

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.

Because people involve with crypto currencies more than fiat and their jobs .People almost stop using fiat money also they prefer trading, mining, and gambling and on the top the stopped using working on offices.

[CryptoGamblingSites]

When currencies like the rupee are inflated and buying bitcoin in India is increasing, it doesn't take a genius to understand the amount of politics involved with "stopping" bitcoin from lowing the rupee even more.

The problem for the government and banks in India is that the corruption has gone on for decades and won't stop without something like bitcoin becoming currency.

[Saldom12]

Probably because this crypto is growing rapidly and can threaten countries that do not accept cryptocurrency. And also crypto may be able to replace the country's currency, so maybe that's the reason why many countries do not accept cryptocurrency.

[dnovsckym]

States also need a profit from this.  And since the crypto currency is very difficult to track, they do not know how to make a profit from it!

[Chrisjay29]

no other reason why crypto didnt allowed by there country. it because they scared to be scam. Lot of news about scammingg in crypto. thats its really hard to convience people right now

[malah]

I think every country has its own policies and regulations about the currency and they already have the official currency in their country so that they will not allow the currency of the crypto to replace the official currency and the currency of the crypto have a big risk so it can be dangerous for community