Why lot of countries do not allow to use Crpto?

[Nakedbitcoin]

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 the reason why their are some other country's did not allow to use  bitcoin  as of now  because they need to study first what is cause and effect of their economy if they accept bitcoin as legal. They might be think that bitcoin is not good for their economic growth.or maybe if they found out that this creation is very helpful to improve their economic growth maybe that's the time they accept bitcoin as legal tender.

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[Blackdeath]

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 such valid reasons why the government of a certain country duly prohibits its people for using cryptocurrency for the fact that just what like you have said, only certain imdividuals will benefits on it because they cannot get the taxes from those individuals who are already up into having their income in terms of crypto in which we all know that taxes is a great factor for the economic growth of a certain country which helps it to innovate its resources for the progressive one. Also, with the state of only certain individuals will benefit, this might bring up into a scenario wherein almost all people may become too greedy wanting for it which is already bad for the unity of a certain country.

[romero121]

With each and every crypto users active involvement in cryptocurrency will be a loss to the banking sector as well regulated investment schemes. It can be of a direct impact or else happens in an indirect manner. This is the major reason that most governments doesn't allow people to use cryptocurrency. The scenario will change as it is in much need on a growing economy.

[yitzjoe]

many countries are still afraid of the fluctuating bitcoin value movement. the economic crisis will quickly happen if the people in the country are many bitcoin holders and the moment the bitcoin value falls. they also find it strange when an investment does not need taxes and records in that country because crypto transactions are anunomous and fairly safe

[billionaireSHS]

Simply because not all the people on that particular country can't access bitcoin when it get legalized. And I observe one thing that the government cannot legalized bitcoin because there are a lot of news saying that many people were become a victim of scam because of bitcoin. But I think this is going to be happened because of a lack of knowledge about bitcoin.

[armarsterling7]

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?

This is only the face of Crypto brought to the world and some countries. But its negative is very much. Crypto is not only used to make payments, it can also help large businesses evade taxes and users can hide their assets and the government is completely unaware of it.
Besides, Crypto carries a lot of risk and the government does not want its people trapped by some scammer.

[Sithara007]

Here in India, the government didn't had any problem when the prices were low. The RBI was saying that there is a strong chance that Bitcoin is a ponzi scheme and you may lose all of your money. But when the prices went up in 2017, the tax authorities started their extortion attempts on exchanges and crypto-users.

[fishball]

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?

Definitely, they are afraid of not being able to handle such thing. And bitcoin's value is still unstable making it still unsure to be used so they think it will really be a problem in the future.

[toolucky98]

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?

because the government doesn't have the power to control this crypto, they can't take taxes from it, and usually they use the reason that crypto  potentially used for terrorism financing and money laundering.

[Vohoanghiep]

For the government, Bitcoin brings some disadvantage to them. It allows anonymous users, for example, to mean that no one knows their existence nor does they have to pay taxes to the government. In addition, they can trade globally without any permission or intervention from banks or governments.

[Linhkej]

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?

Many countries do not allow the use of crypto because their government is not ready for a new tight control of these electronic coins. Crypto is really a hedge against the banks. The banking system is still operating well under their control. Perhaps they are looking to find the most beneficial way from Crypto.

[rickyharun]

For the government, Bitcoin brings some disadvantage to them. It allows anonymous users, for example, to mean that no one knows their existence nor does they have to pay taxes to the government. In addition, they can trade globally without any permission or intervention from banks or governments.

they scared if bitcoin used to criminal case or to hide their asset.especially for avoid taxes.goverment need to regulate this because they want to have another source taxes.and track asset their citizen.

[sniper23]

The governments want money, tax. Also they hate the kind of money that they can't control. Same for Banks.

[treetoneman]

I think cryptos are not allowed by some countries because in their governments
are old people who knows only how to manipulate masses and scaring small people.
They don't understand new things and are scared about innovations.
 If this old generation who lived in times when there were no internet, computers,
 etc. maybe it can change.

[Btcepenbob]

I think alot of countries does not allow cryptocurrency trade because of scams and unsafe security features that could be break any time.

[embargo]

The market of crypto currency has a lot of restrictions for investors to enter. And many countries limit the access to the crypt. Have not thought why? Not for all investors this market. The time will come - there will be a complete picture, but the fact that bitcoin will grow is a fact, as well as the fact that eventually all the virtual currencies will be reset to zero.

[kukurikapu]

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 they will really find it very hard to regulate that is why they are not that confident on handling cryotocurrencies. There are still difficulties in regards to crypto that they need to learn more.

[alkiw21]

Because the government of the country thinks that crypto will lead to money laundering and also as an illegal transaction. In my personal opinion, what governments need to do is to limit each user. And just give the honest users. Maybe that's just my opinion

[agentx44]

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, other countries do not allow to use cryptocurrencies because it is decentralized that the they cannot control it and blockchain technology could replace banks in the future. Some do not allow it because it might ruined the economy of their country, which is not true. Cryptocurrency has a lot of benefits that it reduces unemployed people in a country that gives them a good source of income.

[tonyvo2017]

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?

Many countries fear Bitcoin will destabilize the flow of money flowing into their country's economic system. It is possible that some unlawful money laundering activities are unknowable. But the most likely reason I can see is that the government wants to keep control of individual transactions as they do with the banks today.