Why lot of countries do not allow to use Crpto?

[webdevmastery]

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?

Countries do not allow cryptocurrency because it can affect their own economy either in a positive or negative depending on the growth of bitcoins in their area.

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[Clavulanic]

Simply because they are too afraid to use a new kind of technology that can get our lives more easier. They are basically scared or being cautious about taking and applying cryptocurrency to daily lives. They think this technology must be fully researched and understand its limits and full capability of cryptocurrency and blockchain technology.

I think lack of knowledge is the main reasons why a lot of people in most countries were hesitant to adopt crypto. The government also doesn't recognize crypto due to negative speculations mainly on FUD and other crimes related to fraudulent acts that victimized a lot of people. I think that's a big problem that crypto were facing right now, and with an ample ways that eliminates crypto problems we really need to apply crypto together with the help of the authority.

[LuciferEveningStar]

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?

There are countries who are not capable of cryptocurrency because there are countries  who are poor and if cryptocurrency will circulate on their country then their own economy will just drop even more.

[Bakugan]

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 dont allow crypto in their country because they dont have any knowledge about it. And as we all know many people spread false news about crypto and government used to believe those and we cant blame them. And maybe because it may caused some negative impact in their countries.

[toolucky98]

Many countries fear that digital currencies like bitcoin will pose a great threat to the financial stability of their nations economic system. This concern of regulators is born out of plans by mainstream markets to offer trading in the currency's future. Digital currencies like Bitcoin operate with a decentralized system that is not regulated by central banks. This could create a great challenge for the financial system since digital currencies will not have a stable exchange rate that is controlled by the central bank

[adpinbr]

Its because that these governments of each countries do not have the same knowledge, each of them has their own perspective and understanding to what Crypto is, mainly if you are to talk about crypto the first thing that comes into your mind is BITCOIN, and probably that these governments would not want crypto around their country is that because of how a lot of people are stating negative things about crypto and that the government would not be convinced and will choose to decline crypto.

[warriorcryptobar]

For certain countries, entire constitutions are designed to make a liability deterministic of a liability on a side, and make  whole should something go awry. This is one of the first peer to peer technologies on the cusp of providing the legality aspect. Yet we can't for sure protect all sides given what product features are currently scaled into the Cryptocurrencies. Time, it will take time is all.

[ecnalubma]

Only one thing that they don't know, they lack of Knowledge although crypto is not the main event of this industry but the Blockchain technology itself is the big deal in the future. Blockchain will disrupt almost everything and its the most transparent technology ever exist.

[Antu3032]

I think that, all government know that how much the demand and also the value of the foreign exchange. our local currency is manipulated by government. and  it has a big effect on the local currency, And the next is they think also that bitcoin may be the big competitor against the banks near in the future and they can't control it. thanks

[yunzau]

yes because these countries feel foreign with crypto technology which is applied in the form of digital currency, it does not have an authorized and high-risk entity because it is anonymous.