Why lot of countries do not allow to use Crpto?

[SpringfieldM1A]

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.

People like you should never create a cryptocurrency or any service related to it since you are not understanding what cryptocurrencies are about, if governments have problem getting taxes because of cryptocurrencies that is their problem, the moment bitcoin developers adopted that posture bitcoin will be useless and it will be replaced by another cryptocurrency.

It is because the governments had not prepared for the background of it. If they can prepare for a new law and new agencies just for bitcoin and crypto than they can actually make money  from bitcoin and crypto from taxes.
However, since they are not prepared for it right now for most of the countries bitcoin is just something people make money and not pay the government their share of the income as taxes. Governments will allow it all around the world one day but before that they need to get ready for it.

[1714867249]

1714867249

[icecream sandwich]

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?

Maybe they do not know what is gonna happen if they will permits the bitcoins on their country they are thinking that it can be a source for their people to go against them so there are a lot of reasons of course amd it can be maybe that they just do not want to used any cryptocurrency in their country because they are not a fan of a new technology involving currencies because for them it is much better to stick with the old ones.

[yusupjatigumilar]

they are not ready to make regulations to regulate transactions using crypto currencies, what they fear is that their country's currency will experience a decline in the exchange rate and will be replaced by crypto currencies which in the end the country will experience a financial crisis

[Ahmed4200]

A large part of the public sector comes from the tax. So is the government has the most attention to taking tax .Not only tax, the governments of these countries banned Bitcoin to prevent various illegal activities.
But it does not seem to be the best initiative for me. Because the government of these countries could not prevent immoral activities even after all this.

[dams87]

bitcoin is banned in some countries because the government cannot control it, the government is too afraid if bitcoin has a bad impact on the economy and stability in its country. Another reason is that the government cannot apply taxes on bitcoin so there is no income for its government.

[kingter godd]

So government have threat that illegal transaction and activities will be increased by crypto and government unable to control the crypto. But government should think and consider positive side of crypto and consider the contribution of crypto in economy of the state.

[Bakery cream15]

My country is not forbid totally, they don't accept currency as a current money but they don't support. We can buy and sell crypto on market and get money back to the bank. Government is find the way to control crypto, they already know how potential it is and its application

[LegendzX]

Hey buddy . Try to read this one https://bitcointalk.org/index.php?topic=2272473.msg23037076#msg23037076
Here you will see the link to the list of countries that are accepting bitcoin.
I think the only reason why many countries are still not supporting bitcoin is because of the lack of understanding but this will sure change soon.

[tutorroma]

Most countries are worried that encrypting money will damage the rights of Fiat, although the use of bitcoin is increasing, but it does not benefit the government. I think some countries will soon begin to levy taxes on the special currency transactions.

[jdiieue123]

Probably the real value of these cryptocurrency types is not widespread, some countries are still underdeveloped, the government does not really see the potential that Bitcoin offers. In slow-moving states, the government is concerned about the use of Bitcoin in illegal activities.

[skaynet]

bitcoin prices are very volatile so the country does not legalize bitcoin. in my country also transactions using bitcoin payments are strictly prohibited

[Sahaj]

 Cryptocurrencies are banned because of security issues.The anonymous nature of Cryptocurrencies means that it can be used for illegal transactions - such as buying and selling drugs or weaponry.

[Michael_Token]

Crypocurrencies are banned because they are an independent store of value, which is not submitted to fiat money inflation.

[Scavagers]

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?

bitcoin industry just came for years and can't be completely controlled as it is decentralized and not confined in the limits of any nation. A considerable measure of tricks, illegal tax avoidance, value unpredictability and market controls are the reasons nations don't permit bitcoin or any form of cryptocurrency.

[backspace jejel]

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?

bitcoin industry just came for years and can't be completely controlled as it is decentralized and not confined in the limits of any nation. A considerable measure of tricks, illegal tax avoidance, value unpredictability and market controls are the reasons nations don't permit bitcoin or any form of cryptocurrency.

besides that, because bitcoin can be used for illegal transactions that will harm a country, such as drugs, marijuana and so on without being controlled by the state, but some countries accept crypto maybe they know how to deal with all of that

[DAVETUN]

Alot of of people do see crypto as an Illegal space where there is no control and regulation governing the space, also investment into crypto is highly volatile and since government in most country do not give aprroval dealing with crypto,also crypto is also rated as a platform that allow illegal transaction from it platform, such as drug dealing, easy purchase pf arms and ammunition.

[jonatuzc]

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?

Actually, Cryptocurrency is not bad. but some have taken advantage of its anonymity to carry out some illegal activities such as money laundering and tax evasion. That is what governments are very concerned about and decided not to allow Crypto to circulate in their own country.
I think that's a pretty decent decision and Crypto needs to be fixed at some point to gain credibility all over the world.

Several countries which are developed countries have accepted the cryptocurrencies recently including Germany due to which crypto popularity increased a lot and now after observing the progress of Bitcoin’s countries other countries are thinking to adopt it as well for they also want to make progress. Even countries with highly damaged economies are looking for it to use in their countries.

[crwth]

Introducing Crypto or any other virtual currency to the public is going to be a long debate for the people. Most are uneducated and the government fails to educate these. Also, a fear a fraud, hacking and online theft might go viral and the government may not be prepared to act upon it. It’s all about the persistence of people who go and apply what crypto can do to the country’s development.

[hungtrajamd12j33]

Illegal money laundering, speculation, and financial turmoil by Bitcoin holders may be one of the causes of the ban on the use of Bitcoin in some countries.

[MeganJenkins1212]

Crypto money cannot keep pace with the need for transactions, which are prone to blockages and large fluctuations in value. In general, the decentralized technology of crypto money, though sophisticated, is still a weak replacement for strong monetary support. Therefore, the underlying technology may be potential with other applications, like the simplification of management processes in the payment of financial transactions. However, this still needs to be verified.