Why lot of countries do not allow to use Crpto?

[Wall_Streeet]

I think it will be implemented, but on the basis of any personal cryptocurrency approved by governments

[1715143149]

1715143149

[1715143149]

1715143149

[1715143149]

1715143149

[1715143149]

1715143149

[mware]

Virtual currencies are self-governed, meaning they are not controlled by any government, person or a central authority. This makes monitoring almost impossible and poses a threat for government authorities (this was especially true for China). Finally, using cryptocurrencies is posing a threat to the stability of the national currency in some countries (Indonesia).

[Crypto24hrs]

From my own personal observation i can to draw the conclusion that most countries that do not allow the use of cryptocurrency are doing so because of one of this reasons bellow
1.Miss information or inadequate information about the operation of bitcoin
2.Greed on the part of government and major investors of those countries
3.Fear of the unknown

[randyboy]

I don't know the exact reason why every country now did not accept crypto it is because of volatility or other problems? we couldn't sure about that but my instinct that governments don't want to accept crypto currency it is because they didn't control it by their self and many business mans will control to whole market of money if that's gonna happen.

[mejalipat]

many countries that are not allowed to use crypto because crypto has a price that keeps changing and is not safe because it has a high risk so it can be dangerous and harmful

[boty]

I think that maybe because the cryptocurrency price movement is unstable and cannot be relied on even the price of cryptocurrency is very moving so that many people who use it experience fear because the risk is so high that many countries do not accept cryptcurrency use.

[automaticmoney]

a lot of countries are about to update crypto and blockchain technologies in their government and day to day business so we can expect soon or later they will also work with crypto currencies  

[Bitlife81]

Because the government is afraid of money-laundering criminals, people who illegally use electronic money do not verify the identity of the holder and commit unlawful conduct.

[LuciferEveningStar]

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

Yes there are more countries today who are actually legalizing cryptocurrency this year due to its price that is very profitable due to the demand in the market that keeps on increasing.

[roxbit]

I don't know the exact reason why every country now did not accept crypto it is because of volatility or other problems? we couldn't sure about that but my instinct that governments don't want to accept crypto currency it is because they didn't control it by their self and many business mans will control to whole market of money if that's gonna happen.

These countries that banned or disallow the use of bitcoin permanently are afraid of cryptocurrencies dark side. The anonymous nature of cryptocurrencies means that it can be used for illegal transactions  such as buying and selling drugs or weaponry. And it can also be used for money laundering or terrorism. It is uncontrollable by the government that made them think it is harmful to the nation.

[indog]

Yeah trading with crypto isnt harmful to the country's economy. But they always complained about unclear reasons to oppose crypto. I think crypto is very beneficial for the country. Fiat sale transactions for crypto or crypto for fiat is the reason, isn't this better !

[andriarto]

Yeah trading with crypto isnt harmful to the country's economy. But they always complained about unclear reasons to oppose crypto. I think crypto is very beneficial for the country. Fiat sale transactions for crypto or crypto for fiat is the reason, isn't this better !

crypto is a complement to fiat currency, so if the government legalizes it, i don't think it's wrong. they are only afraid when a bubble occurs, even though it won't happen. precisely ones that legalize it are developed countries

[Vzae]

In my opinion, some countries forbid crypto from entering their country because they assume that digital currency is very absurd and it's difficult to know who is responsible for it.
Because in the transaction crypto only leaves TX ID without knowing who the seller and buyer are. And also another reason is that the country has no tax revenue from crypto.

[Sasha Grey]

Many countries fear that crypto usage will continue to increase so that the use of fiat is reduced or even eliminated, this is what makes the country not allow crypto to be used freely.

[DevilSlayer]

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 because they are aware that cryptocurrencis are threat to banks. Government can't control the cryptocurrencies because of its characteristics of being decentralized. There is a high chance that the cryptocurrency can change the economic system.

[Girlsbit]

Maybe they do not want to solve the questions connected with the crypt then, therefore, they do not accept it.

[ninio]

because crypto currency are using in some illegal activities thats why some countries not allow to use crypto currency because we all know that crypto currency have a high anonimity in every transaction so if someone use it in illegal no one can trace it. Also some reason is crypto is very volatile and the value is unpredictable.

[Irvinn]

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?

Including the fact that citizens of one country will be able to transfer money to other states uncontrolled for the state, this is one of the reasons why the states do not want to implement crypto currency. About. this was clearly stated by the Chinese government last summer, indicating that it considers the currency a threat to the economy of its country.
Another problem from the point of view of the states is the high volatility of the decentralized crypto currency and therefore a significant level of risk when investing in it.

[ir.yance]

many countries do not allow crypto because they consider crypto currency as a coin that has value but cannot be used as a means of payment in all countries, besides that there are also countries that still want currencies that have been created by their countries that have images of people who merit in their country, like photos of heroes and others.

[lelylely]

The reason why countries do not legalize bitcoin to be used as a means of payment is, the state has its own currency and of course they do not want the national currency to lose to bitcoin.