Why lot of countries do not allow to use Crpto?

[TamacoBoy]

It is because they fear that it will be used by scammers to scam people. Maybe, they are not ready to adapt this kind of technology and still in the process of development.

[lester04]

Some countries not allow crypto cause crypto could use for money laundering online and I think one reason why some countries not accept crypto are crypto has no tax their government want their people to pay taxes and some might reason is they don't know how crypto works and keep thinking that crypto is always use to scam peoples.

[azizfikri2]

Some countries not allow use crypto is will affect the countries income, because crypto not make a profit for some countries. Countries income from taxs and other else, but in crypto the countries can't detect who get some more benefit and not. And the countires not have regulation too for allow crypto in their countries. I think if some countries allow the crypto they must make nation exchanger. Every transaction on their exchanger have taxs and the taxs will belong their countries.

[Zigzagkuy]

Because the country is afraid that crypto will be used for illegal acts. But it depends on how everyone uses it. So you can not blame crypto. The country feared crypto would be a serious threat to a country. So they do not allow crypto. that's just my opinion.

[Xenoph0bia]

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.

Many countries do not support cryptocurrencies as they are not centralised and not under the control of any central bank or government.Cryptocurrencies are very volatile and so it is risky to invest in them as we do not know when will the prices will fall or rise.Cryptocurrencies are internet regulated and so there is a risk of getting hacked too.These cryptocurremcies are also banned in some nations too.These are also very complex to use for a common man or an illiterate.

[casternetwork]

The main reason why many countries do not allow people to use cryptocurrency is that the government has negative thoughts about cryptocurrency. They think cryptocurrency is not a legitimate currency and people using cryptocurrency will face a lot of risks.

[piterpie]

These are ancient countries, and these countries do not want to develop their national economy. They are afraid of facing the difficulties of Bitcoin as the price of Bitcoin is easy to manipulate and evaporate. So they were afraid to learn about Bitcoin, and they decided to ban Bitcoin

[tranduc2101]

Although there are many countries that do not allow people to use cryptocurrency. But most investors in the country still invest and use Bitcoin on the internet. They can not control everyone. So do not worry about this

[hajimasan]

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 they are thinking that people are using bitcoin to do scam and also they are not paying tax and another charges during transaction , but in Actual it is not the same thing with everyone .
Those countries who banned the bitcoin and are not in the favour of the use of cryptourrency , needed to see over the cryptocurrency use in every possible ways because here we are not with the system where everything is Negative and harmful but there are only few people who are using the bitcoin for illegal works .
Here in my opinion every country who are against the cryptocurrency, should see over the rules of those countries who allowed to use cryptourrency and also how they are regualting Cryptourrency misuse to make everything clear and transparent to use .
If those countries will allow cryptourrency use then surely a big problem that is unemployment will get solve at a better extent .

[Fasunathan]

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.

Yes, that would be very difficult for them because cryptocurrency was a decentralized body of currency. It's totally different from fiat cash economy which can be easily regulated. This currency was truly a freedom of financial system separated from government control. So they had no choice but to allow cryptocurrency be used by every people. But some countries were strict, and there were reportedly banning cryptocurrency for specific reasons.

[Neraj Evad]

There are lot of countries that do not allow the used of cryptos , because they are not legit in the country and the government has not decided to accept and legalized the use of cryptos in the countries, so whatever happen to  your transactions with cryptos , the government will not answer abou what had happen to you.

[cloud9ners]

I think its illegal in some of  countries like China because it depends on their government.

[alizalela7]

Many countries do not allow the use of bitcoin because they do not yet recognize the value of bitcoin and they do not dare to go hungry with the management of bitcoin nor know the bitcoin will bring them value.

[Saveplus]

Some countries cannot accept bitcoin,because they think it was illegal for them.They are afraid to change their currency and government did not allow it,they want to imposed tax on bitcoin but its a long due process before it was granted in their country.They did not know how bitcoin was special in our financial needs.

[MaryClark12]

Because they have not yet seen the potential for crypto. It is these currencies that can bring to countries that have not yet developed or are developing an economic advantage that can outstrip major economies.

[naily]

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.

I think instead of banning but many countries do not know the benefits or uses of the crypto currency so they are the government has not legalized this crypto currency system

[hotBriX001]

Many countries do not allow the use of bitcoin because they do not yet recognize the value of bitcoin and they do not dare to go hungry with the management of bitcoin nor know the bitcoin will bring them value.

Agree. In addition why some countries do not allow to use Crypto is because they can't really controlled decentralized currency due to transaction will be made by peer to peer that does not need third parties presence. And also some countries not yet fully recognized bitcoin existence and its benefits that would helps economic growth in the long run.

[joelou]

Well in my opinion i think because of  Cryptocurrency has a lot of benefits that it reduces unemployed people in a country that gives them a good source of income.that's why some of countries do not allow to use crypto.

[kumala_abi]

Well in my opinion i think because of  Cryptocurrency has a lot of benefits that it reduces unemployed people in a country that gives them a good source of income.that's why some of countries do not allow to use crypto.

if cryptocurrency reduce unemployment people , why goverment shoudl ban this world.they should to legalize it in order there will more investor join and they can attract taxes from it.

[Daday23]

Because they cant control bitcoin once they legalized in their country.