Why lot of countries do not allow to use Crpto?

[kniheant]

i think because the government of the country,now bitcoin not support almost bank and they don't relize power of bitcoin,so i guess future of bitcoin will not like now,bitcoin will accepted by many country.

[1714863446]

1714863446

[1714863446]

1714863446

[Conasse]

It depends what do you call a lot of countries. If we have 15-20 countries then it is negligible when you consider there are perhaps about 400 countries existing

i think because the government of the country,now bitcoin not support almost bank and they don't relize power of bitcoin,so i guess future of bitcoin will not like now,bitcoin will accepted by many country.

Bitcoin doesn't need to support banks, banks need to support Bitcoin

[Zurbuchen]

Other countries do not allow crypto because they are afraid of taking a big risks. Making crypto as a fiat in each country will be a big step to take and not all countries are aware that crypto is already existing.

[pocketfullofpoke]

Opponents of the legalization of crypto-currencies often argue that the holder of an electronic purse with crypto-currency can not be identified. That with the help of bitcoins money received illegally can be transferred.

With each country having their own perception towards cryptos, we can't really blame others who prohibited their constituents of using cryptocurrencies. They believe that crypto as a threat to their country's economic growth and security as we know that cryptocurrency can be a perfect tool for cyber/criminals to sneak in money without having their identities concealed.

[Bella Thorne]

Blockchain is still in the development stage and  there is no proper regulations about it. What is good is that it keeps on making a lot of progress and people slowly adopting the technology.

For me there are a lot of countries are not supporting crypto because they dont trust that bitcoin can be the future of this world and i think countries are afraid that crypto will be more supported by many people over than to support real banks.

[cdoyle14]

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?

If I would be a president I will not only think about freshness of the system, I would be thinking about the possible effect that it will have on my country economy and people welfare.

[Rooster101]

Other countries do not allow crypto because they are afraid of taking a big risks. Making crypto as a fiat in each country will be a big step to take and not all countries are aware that crypto is already existing.

These governments might also not ready to allow cryptocurrencies or they had different views that prevent them in permitting their people to use virtual currencies. Some governments allowed cryptocurrencies by imposing taxes abd regulations to monitor movements of the coins and lrevent from falling into the hands of men that involved in illegal activities.

[RedzoneASE]

The main reason why many currency do not allow cryptocurrency trade is ofcourse because of the security measures. If you look why the countries are banning because of many scams issue and hacking incident which has triggered the governments to act againts crypto trade.

[Nikola95]

Cryto could be used for criminal activities, it could be used to avoid taxes, and many countries think it is just ponzi scheme, where people can loose money.

[qwerty12]

What I believe is that the government is afraid of losing control of their people's money. So far they have always argued that cryptocurrency anonymity is dangerous because it can be used for illegal activities, etc. But I do not believe in all their reasons.

[nguyenthanhvien]

Maybe they do not have the technology to control the crypto market so they do not want to use this technology. But I think in the next few years as the technology grows they will come back to crypto.

[Ayencyet79]

In my perception, a lot countries still not using crypto because they're low technology not like japan which they totally use bitcoin technology as an alternative way mode of payment. And maybe several countries afraid to used It because some Illegal way that Is easy to get In like money laundering and others.

[RippleSpaset]

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?

Would you let the money go?After all, the cryptocurrency dosihpor is not taxed, it can not be controlled . If the authorities allow the use of crypto, the local currency will fall, as people will switch to crypto(and the us dollar will grow )

[ngawethu1]

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?

As my point of view, If we do all of transactions under cryptocurrecies, it would be a big problem. Firsly, the country economy would be harmful because the government doesn't have any tax to pay the social activity of the country from the transaction. The living condition of civilian could not be improved. Secontly, they can't control the money flow of the country. Its time for smugglers and money laundering activities.

[kripkiki12]

I think less countries made actual steps banning crypto than where it is either allowed and regulated or a grey zone with rather ignorance

[Chooroz]

Cryto could be used for criminal activities, it could be used to avoid taxes, and many countries think it is just ponzi scheme, where people can loose money.

I agree with you that is one of the real reason why many countries are not accepting bitcoin, many criminals are now using crypto for there own purposes, and i think many countries is still not convince that crypto can help our economy to be more better. So there are not supporting crypto.

[Rastafarian]

The government n most countries have come to realize that transactions on cryptocurrency fetched nothing to the country. In view of this,the countries tend to stop the entire cryptocurrencies.

[LyQaN]

The main reason for any country for not allowing the use of cryptocurrency is the fact that cryptocurrency are not under the control of any government.Government cannot control cryptos transactions.So in order to stop or we can say to prevent the misuse of cryptocurrency they ban them because people find it as a way to perform illegal dealings using cryptos as they know that they will not get caught.

[cryptoguy1234]

The primary reason as per me is their is no focal administration to control the bitcoin and government imagines that it will influence the economy of the country.Uncontrolled dissemination of money is the significant issue which is looked by the vast majority of the nations because of which they are not announcing it legal.Misuse of bitcoin prompted numerous issues which can't be traceable.No question it is extremely advantageous and simple to use for basic native of nations yet some are utilizing it for unlawful means because of which pronouncing it lawful isn't considered as protected.

[nurseyman]

States do not like things they can not get tax. there is no reason to take taxes anyway. crypto money is anonymous thing. states are not investing or spending for it anyway.