Why lot of countries do not allow to use Crpto?

[SB16]

really the main reason a country rejects bitcoin is because they can not control bitcoin.  The government's fear of losing the management of financial flows, the uncertainty of the vector of the development of the crypto market. We must not forget that the market is very young and many people treat it with disposition

[Dod Ong]

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 did not allow to use crypto because they think that the bitcoin cannot help their country grow. Also they think the bitcoin is illegal and not allow to use. Maybe the government did not want to add a tax on bitcoin. Also they are afraid because the bitcoin can control them.

[nehemiah31]

Actually most of the countries around the world use crypto already.There are just few who do not because they do not know about it and they are afraid to take risk.

[lester04]

They not allowing crypto cause crypto could use in illegal activities online and some crypto coin are have anonymous transactions so basically they cannot identify if which person making illegal activities and and being volatility of crypto is one factor why they not allowing crypto in their country cause people could lose their money cause they think crypto is like a kind of gambling.

[Bitcoin2009]

Many countries do not allow to use Crypto in their place because they are not yet ready to adopt any new online currency due to their lack of technology support unlike other country that are not legal to their country but they are accepted to use as a payment in any transaction they made like here in my country bitcoin is not yet legal but we can use it in any estabishments that Crypto is accepted.

A lot country not allowing bitcoin because they dont have good knowledge about bitcoin. In many advance country, the government have good knowledge about cryptocurrency and thats why they allow it. More country will more understand about cryptocurrency and they will regulate cryptocurrency

agree with that. I am sure, when they find out about the benefits of crypto, maybe they will make a new crypto, or cooperate with other crypto companies. this has also been done by countries that have advanced technology.

I think technology can be prepared and studied instantaneously, the hard thing for countries to accept crypto is because anonymous crypto, if crypto users are anonymous, the state does not have data to find out who the user is and feared to be used for illegal transactions.

[v_Harley]

Some investors think that encryption is not very secure, and a lot of encryption doesn't have much value in the first place, so there's a lot of investment products like gold and so on, so there's not a lot of demand for encryption.

[Luthfiyaaa]

maybe some countries do not allow crypto for various reasons, such as fear that if the original currency is replaced, many people who invest in crypto rather than government business or crypto maybe very dangerous. but in a few years there will be many countries that accept crypto, because crypto is very profitable.

[CPetersson]

Each country wants additional taxes. How will they get them with cryptocurrencies? And probably cryptocurrencies have not "amazing" background

[chibimanau]

I think most countries banned Bitcoin because they have low technology. They will not be able to manage Bitcoin in commercial transactions, especially in tax matters. Or maybe they are not sure about cryptocurrency, because they see Bitcoin is not really stable.

[Crafts12]

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?

That is exactly one of the reasons why many country doesn't allow the usage of bitcoin or even promoting the use of it. Governments cannot put a tax on every transaction it will have. Another reason is that bitcoin can considered as a threat to the banks due to ut can also be use as savings and can transac to others. Bitcoin can also be a tool for illegal doings. These are the reasons I see why they won't agrer to it.

[pinkliar]

I think most countries banned Bitcoin because they have low technology. They will not be able to manage Bitcoin in commercial transactions, especially in tax matters. Or maybe they are not sure about cryptocurrency, because they see Bitcoin is not really stable.

Well for me, I think other countries banned crypto is because of those scammers. If they allowed crypto to their country there is a possibility that many people on their country will also victim of scam.

[Ladysmith]

It's mainly because transfers in a currency other than the national currency means bad economic performance, including GDP. It also can't be regulated, giving governments much less control over the people ( less power.)

[Silberman]

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.

We must not compromise, if the governments can find a way to make money with cryptocurrencies I am fine with that but the idea of taxing every transaction is a huge mistake since you will basically give the control of the network to the government for that to happen and we know that whatever the government touches becomes inefficient and that is not something that we want for bitcoin.

[Cointoli]

I think most countries banned Bitcoin because they have low technology. They will not be able to manage Bitcoin in commercial transactions, especially in tax matters. Or maybe they are not sure about cryptocurrency, because they see Bitcoin is not really stable.

Well for me, I think other countries banned crypto is because of those scammers. If they allowed crypto to their country there is a possibility that many people on their country will also victim of scam.

Countries that forbid cryptocurrency because they did not understand the usefulness of coin types in life. Blockchain technology is being used in many parts of the world for financial and human management. I believe that the leading countries in the application of cryptocurrency will have great development.

[pankowri]

There are many reasons behind this.But government knows well.May be government think that the economic problems will be faced for it and money will be reserved.People are going to make loss in their investment.For those reasons,a lot of counties don't allow to use crypto probably

[Jupeter]

Each country wants additional taxes. How will they get them with cryptocurrencies? And probably cryptocurrencies have not "amazing" background

I can say that there are still a lot of countries is not accepting crypto because they are not trusting cryptocurrency or they dont want cryptocurrency to be part of the future of this world or maybe some countries doesnt know the real benefits they can get with crypto.

[Lodipetmalu]

Many countries were now using bitcoin, but also many countries dont allow to use it bitcoin. Perhaps those countries were bitcoin is not yet introduce to that place or still afraid of having bitcoin due to price not stable.

[jiryuksan]

There are many reasons behind this.But government knows well.May be government think that the economic problems will be faced for it and money will be reserved.People are going to make loss in their investment.For those reasons,a lot of counties don't allow to use crypto probably

Because they still think bitcoin is easy for illegal business, while the government has not found a way to close that weakness. The main difficulty of bitcoin is anonymity and transactions are peer to peer. So bitcoin prices are not stable, so the government needs to protect its people from losses.

However, in some countries the ban on bitcoin is only as a means of payment, to be collected or commodities cannot be banned because everything is online.

[katrimans]

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?

not in country but i can say that they goverment didnt  want cryptocurrency and maybe because of the manipulation and goverments scared about that because theres a lot of people like newbies will going to loss money if they didnt know all about crypto and the big risk in here.

If you look around there are numerous examples for your mentioned topic like many countries are using it and are progressing with it with the passage of time. Countries like Japan, America and many more countries recently Germany also accepted it as a currency with can contribute to the economy. Other countries have also a positive image now due to these recognizing activities of Bitcoin.

[demonz666]

because they are afraid that cryptocurrency will thrive and cannot be controlled and will threaten their bank system because people would rather invest their money in crypto than at a bank. and they refused crypto because they could not collect taxes from Crypto. whereas a country always requires income from taxes to be able to run the government. and the government does not like something that cannot be controlled.