Reason why other ban cryptocurrencies

[Helpme_please]

I think that is another reason why cryptocurrency is often banned by the government in a country because of the unstable price of bitcoin and they fear that bitcoin is used as a place for price games which means it will not be stable and will make some people lose when used for transaction.

government affraid if their citizen invest in cryptocurrency and lied by fake ico's.this is why so many government strongly reject about cryptocurrency in their countries.

so that is be government duty to protect their citizen.and we could not blamed them.as long as developer team did not make fake projects and run their investors fund i think government would not ban cryptomarket.

[manyu22]

I think that is another reason why cryptocurrency is often banned by the government in a country because of the unstable price of bitcoin and they fear that bitcoin is used as a place for price games which means it will not be stable and will make some people lose when used for transaction.

government affraid if their citizen invest in cryptocurrency and lied by fake ico's.this is why so many government strongly reject about cryptocurrency in their countries.

so that is be government duty to protect their citizen.and we could not blamed them.as long as developer team did not make fake projects and run their investors fund i think government would not ban cryptomarket.

Because it has no formal foundation and regulating authority, bitcoin is prone to being misused for illegal transactions, money laundering, and terrorism financing. The circulation of bitcoin is also illegal because it is not affordable by the Bank.

[KalaiBTC]

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

It seems to me that people did not trust cryptocurrencies, or they see crypto as unsafe things because it could be used in an illegal activities, because Government did not aware of crypto. Its true that there has a reason why cryptocurrency banned in some countries because it is decentralized. And also Goverment has regulation in many aspect including the usage of suspicious things inside the internet.

You are wrong about these all conversation on currency ban as you said that Governments do not know about it which is totally wrong. You should know what the reality is; people desire for it but it is actually government which is against its legalization because they think that it will affect banking system. In reality let’s take example of Germany as they are using Bitcoin as payment mode as well as paying loans through it so other should learn from them.

[duoleduo]

Very correct, it takes a long process. The government will accept cryptocurrencies in the next few years, which requires the knowledge of cryptocurrencies to be popularized.

[Rosesie]

The simple reason they band crypto and bitcoin because they wanted to control and manipulate bitcoin like fiat. but they can't. and they see it as a danger to their economies.

i totally agree with you. But crypto is decentralized and can not be controlled. That is the reason why other ban cryptocurrency

[wasaisi]

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

Some countries have their own reasons why they ban the crypto currency in their country. Perhaps one of the reasons we hear most often is because crypto currency cannot be controlled by the  government and can also make the economy of the country chaotic.

[glorybtc]

It is true. Essentially, a country bans crypto currency because that country won't get a cut from the profit its constituents get from trading crypto currency. After careful considerations, and alot of lobbying, crypto currency will be allowed to used a country but an exhorbitant amount of tax will be implemented.

It is not only imposing tax on income from cryptocurrency but there are many other factors, which cause banning cryptocurrency. The main problem is that cryptocurrency is not guaranteed. Many people do not invest in it because they think that it is a Ponzi scheme and there is no future of it. People will lose their money. People withdraw their money from banks and that is panic for government.

that's right, if cryptocurrencies are not banned, then the government is afraid that crypto will kill the banking industry, especially the central bank, which is definitely no longer needed if crypto is used

[prediction on bush]

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

I think why many country are banning or not using cryptocurrency is just because the cryptocurrency is not stable yet and crypto is just a new currency so that many are not agreeing about the using of this kind of currency. It is just my opinion on why many are banning crypto.

[Maricel2017]

Because the government thinks that digital currence will make big impact in their economic growth they cant control it, also they scared that people will use more crypto currency than the traditional currency.
Government do not think the good side of having this currency that many people can improve the status in life by earning with this currency.

[strideynet]

the ban is included, among other things, because of the high risk that ordinary uneducated investors may fall for

[KesoNie]

the ban is included, among other things, because of the high risk that ordinary uneducated investors may fall for

The main reason is cryptocurrency is used as medium of payment in doing illegal transactions, so they ban crypto to lessen the criminality happen nowadays. Many reasons why others ban cryptocurrency to their country because they cannot control it, and since most of Government want to all things to pay tax and  have control to it, but cryptocurrency are decentralized,which means no one cant control it.

[sinkfish]

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

it shouldn't be problem if they can tap in to system access to public records. with the right data they can make decision base on that.

[pamsugas]

the first reason: crypto is very volatile the government does not want the public to suffer losses from crypto

second reason: the government is still confused about making crypto regulation

[bangkit tri]

the first reason: crypto is very volatile the government does not want the public to suffer losses from crypto

second reason: the government is still confused about making crypto regulation

right, government is still looking for ways to determine policies against it. and government actually knows that later crypto will shine and must follow technology. but money laundering is also an obstacle

[sumanto]

I think that makes this cryptocurrency experience a use and circulation ban in some of these countries. I think because the price of bitcoin is not stable and maybe also because bitcoin has anonymous transactions, so it is difficult to track who the owner of the wallet is doing the transaction because it will cause money laundering.

[ELOCIN]

Every government from every country have their own point of view towards digital currencies especially bitcoin. For those who banned digital currencies, it's their right to do so and i am glad that others accepted digital currencies too.

[jojowar]

For me the reason why other ban cryptocurrency is because the government cannot control the incoming and outgoing of cryptocurrency in their country that may result into losing of income or tax by the government for now.

[ace1105]

For me the reason why other ban cryptocurrency is because the government cannot control the incoming and outgoing of cryptocurrency in their country that may result into losing of income or tax by the government for now.

Yes this is the main reason why the governments wants to ban it, and they can't also trace the transactions and this will lead to illegal transferring of money freely and untraceable.

[Silberman]

Scared to give the people freedom, banning what they cannot control. The blockchain should be on the level of freedom of speech.

This is rather a freedom to invest and freedom to earn thing and not a freedom to speech platform. The reason for banning the cryptocurrency is simple. The governments do not view it portable and friendly for the economy. This is the only reason it is banned. Many tend to impose the regulations that favor the government and not the users and in such a case, the users quit the investment simply.

Bitcoin is showing to us the power of decentralization and how it can benefit us to avoid censorship, this is very important because now social media that cannot be censored has been created and there are some projects that are developing a decentralized Internet as well, if those projects really become successful not only we will have the freedom to invest but the freedom to express our ideas without fear.

[Ikay]

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

Yes governments think this a threat to them and economic burden because as you said that it will be use for launder money and transfer funds in other country and cannot be handle by their government but this thing won't let happen if the government take a look of the transactions in other country so they can monitor it and use also crypto for the growth of the country.