Why lot of countries do not allow to use Crpto?

[nightways]

many countries believe cryptocurrencies will increase money laundering mainly in India the arguments  are going in the court hopefully they accept crypto in the coming future                                                                                                                                                                                          

The decentralized nature of the crypto currencies is something which is a serious threat to all the government officials as this will not let them control these digital currencies just like the way they are controlling normal regular currencies. The government of different countries is still looking for the right time to take any such step as they need to be sure that this will help in growth of their economy.

[suryana]

many countries believe cryptocurrencies will increase money laundering mainly in India the arguments  are going in the court hopefully they accept crypto in the coming future                                                                                                                                                                                          

The decentralized nature of the crypto currencies is something which is a serious threat to all the government officials as this will not let them control these digital currencies just like the way they are controlling normal regular currencies. The government of different countries is still looking for the right time to take any such step as they need to be sure that this will help in growth of their economy.

It's hard to make them believe in Bitcoin, the Government still fear the Crypto
will make countries slumped due to be much happening cases of money laundering.

[CharlieKoala]

The crypto has so much benefit to the people that if their countries allow using crypto, their bank in that countries will go bankrupt.

[lamroinhau09]

I think crypto money cannot keep up with the need to trade, be cluttered, and fluctuate in value.

[odri777]

The state is just interested in receiving taxes and profits, and in the case of the crypt it can not always control it!

[roxbit]

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.

Other countries concern specially the government first thing they do is form a currency. They like to control the currency. They control it through the central bank. That is why they don’t allow cryptocurrency as a legal tender because they cannot do tracking of your transactions not like with your bank accounts where there is a third party involved.

[Sled]

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.

Other countries concern specially the government first thing they do is form a currency. They like to control the currency. They control it through the central bank. That is why they don’t allow cryptocurrency as a legal tender because they cannot do tracking of your transactions not like with your bank accounts where there is a third party involved.

You have a point and since they would like to control a currency then they wanted to control bitcoin in their country and if they cannot control it because of the decentralization then they will just do not allow cryptocurrency in their country and it will be just be forbidden in their country unless they changed their mind or they see that bitcoin is being implemented in big countries.

[dlouulmusthofa]

the country that does not allow the use of crypto is a country that is afraid of the crypto currency will losing its domestic currency, if the state allows the use of crypto for transactions, I am sure more citizens use it, so the use of domestic currency is reduced and causes its value to decrease

[imapd]

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?

You need to wait for a little more time more, bitcoin is known for only 3 years right now and it is too fast too something to destroy all the things that we were familiar with for 300 years, economy is not so fast changing as bitcoin is.

[coinfinger]

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.

There is nothing like scary for a government to fear. It is just that there are things that are not in the interest of a government. There can be many reasons why different countries ban crypto currencies. In my country, it is not accepted so far because it is considered to be a possible trigger to intensify illegal activities. Besides, due to risk in crypto, government has issued orders not to invest in crypto.

[RockBar0]

the country that does not allow the use of crypto is a country that is afraid of the crypto currency will losing its domestic currency, if the state allows the use of crypto for transactions, I am sure more citizens use it, so the use of domestic currency is reduced and causes its value to decrease

The country may not be ready to participate for many national reasons. When they stabilize their country, they will probably have a more sympathetic look at the finances. Or maybe they are afraid of possible social evils and many other factors, but certainly no one can miss this financial opportunity.

[Twentyonepaylots]

What do you mean under 'a lot of'? Google search tells me that there are only less than 10 countries who banned crypto and in all number of countries of the world its actually not so much. In explanation why one or another country banned bitcoin its written that its out of their economical laws. So, they simply do not want to change their laws cause of bitcoin, changing laws is long and expansive process as I know.

 Well, that's your own perception, one should remember that  Bitcoin or crypto currency is not yet fully adopted globally. we have issues on Banned, Scammer, Hacking in this crypto world not to mention the issue on Regulation by Countries whom critical on Digital Crypto currency transaction. Once this issues  are resolved i am optimistic that crypto currency market will be accepted globally.

[noah tall]

You are not wrong with your math but its about the security and laundering stuff that may come up front. Most of the countries are afraid that huge amount of money might be laundered with the help of bitcoin and thus it may cause the disturbance to economic circulation in that way. It has recently discovered that many cases of mafia has been found who are actually using the bitcoin this way only. This is the biggest and prime reason why countries are trying to avoid the unwanted use. They also want to protect the peoples funds by stealing methods, crypto fake exchangers and schemes etc.

Well, the security and laundering stuff is not an issue that cannot be solved and this is why regulations can be in place with the government being in control of the exchanges which could mainly serve as the main source where laundering can simply occur.
It is just simply because they are looking for every way not to make it work and reason why they would rather stop it than try to do anything about it at all. Unfortunately for them, it is a battle they are really not going to end up winning.

[anntlevel]

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.

The government of most of the counties is still waiting for the crypto currencies to gain more fame and popularity in the international market. They just want to be sure that they are only taking this step of legalization of the crypto currencies at time when things are in favour of the crypto currencies. They are not worried about anything and that they will declare these crypto coins as legal currencies but at the right time.

[Jimitieu]

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 that is the problem that the governments of countries do not like it. Because when you do business or trade in cash, you will have to pay taxes to the government. But when you trade in cryptocurrency, you do not have to pay taxes and that leaves the state unable to get money to invest in other areas or pay for social security of people.

[usorin]

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?

It is possible that they don't have real info related to crypto or t hey just don't take is serious, for many of them it is just a child's game, but not for those who earn their incomes 10x to crypto world.

[Underlord]

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 problem is taxes, if every transaction and exchange from digital money to national currency is not taxed, it will hurt the government. Moreover, this happens in large numbers, of course it will greatly affect the circulation of national currency. Actually I would strongly agree if every transaction is taxed if it makes the country accept the crypto, but surely will have many obstacles.

[cryptocurrencyguru]

lot of countries dont nt allow to use crypto is they are afraid of money laundering and other fears of bitcoin and other cryptocurrencies but in order to grow with development they should also adopt for bitcoin

[tommisetiyawan]

I completely agree with your opinion but something is considered in addition to this point. the government can not handle all transactions used by criminals for illegal activities. Cryptocurrencies are stored by people around the world so that the value of this currency will not be stable. It is impossible for the government to control bitcoin and that could be the main reason that they still do not allow and make bitcoin a legal currency in their country. But it is certain that in the future all these countries will make bitcoin a legal currency. Because bitcoin is a need for modern times and the younger generation feels easier to use bitcoin than fiat currency. And maybe people who are afraid of bitcoin because they don't know what bitcoin is, what are the benefits of using bitcoin, most of them only know about the negative side, not looking at the positive side.

[agnostos]

Because bitcoin is used in black markets, they think it is illegal to use it. They are afraid by the standards of using crypto.
Its decentralized nature can be a threat in the government