Reason why other ban cryptocurrencies

[hastag_80]

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.

Will maybe thats your explanation why should other country continue to ban the cryptocurrency into there country,but not at all because there are sone countries at first they ban the bitcoin  because they thinks thata its been used in money laundering,but when they see the true motives of cryptocurrencies and the benefits of the economic growth,then the government  change to implicate an allowed to operate the bitcoin on its own as part of there economic growth,so therefore not at all times the mind of the goverment are crypto are danger to the society there are times are changeable.

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[Elseye]

I think that many parties have their interests in banning crypto; especially banks and governments, also mass media is probably against crypto.

[Farma]

There are practical reasons, many like to insists that crypto is an amazing instrument for bad people to perform their shady doings but I think that positive effect from it is extremely higher.

well, so many things that the government sees from this. well, the reason why the government banned bitcoin for various reasons. but if the use of crypto is used properly, there is a possibility that they will again revoke the regulation. as far as I know, the withdrawal of money is still the government's reason.

[tonyja2017]

That's why some big countries are banning Crypto. They do not want to lose control of their GDP and incomes. If a government can not get that information, it will lead to a lot of danger. They will not be able to come up with the most accurate plan and affect many other areas.

[Silberman]

I find some of their reasons to be indeed logical because if it is legalized than so many people would use it without control but on the other hand it is on the internet so even if you don`t legalize the money launders make the laundering in any case.

The reasons for governments to ban cryptocurrencies are indeed very logical if you see things from the point of view, however we don't care, people are tired of the government always taking advantage of them, and that is why they are adopting cryptocurrencies because they see cryptocurrencies as a way to protect themselves from the bad economic policies of their governments.

[blackbold]

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.

if crypto can be regulated by the government, then the government will be very easy to manipulate crypto and this will cause the decentralization of crypto to disappear,

[tabas]

I think that many parties have their interests in banning crypto; especially banks and governments, also mass media is probably against crypto.

I'm thinking the other side with those that you have mentioned. There's a big money in cryptocurrencies so the government will never pass this chance to create a law that allows them to regulate and tax crypto transactions that will be ever done on their jurisdiction. The medias are paid and they are just expressing the thoughts of the organization or company that paid them.

[darkphoenix2610]

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 considered bitcoin as danger to people because they don't want to lose as what others emphasized. Sometimes fake news, scammers and hackers are making it worst. But if you go down into the details you will find bitcoin an amazing technology.

Many nationalities believe that Bitcoin and cryptocurrency directly affect their financial management systems, so they have consistently prevented cryptocurrency from growing. In the future, I believe that things will improve as the nations truly understand the benefits that crypto and blockchain technology bring to life.

I agree some countries are banning Crypto because they think that it will be a threat for their economy which is not practically the reason but they are scared of the most legalities and more solutions that they cannot control their hidden agenda, Some countries government are not likely a good one when it comes to giving their people the right to choose in handling their money.

[suzanne5223]

the government is simply trying to protect uneducated or inexperienced investors from financial losses. we cannot exclude this reason

We both know that's definitely not the reason behind the government placing ban on cryptocurrencies because there's always a way in finding solution to something rather than banning. Meanwhile, the thing which the Chinese government showed an example back in the year 2016 when they see bitcoin as a threat to their power and national currency.

[BennyK]

The governments of the countries that have banned Bitcoin and cryptocurrencies claim that crypto is used for money laundering, drug trafficking, terrorism funding etc because the persons behind its transaction cannot be tracked due to the anonymity.
However, it has come to light that the governments are only scared of the power crypto gives to the people due to its decentralized nature.

[Mymikagab]

One of the main reasons is that the spread of scam is used as a result of the manipulation,goverment can not control the transactions, used in illegal activity and the government thinks it affects the country's economy but it is not the reason

[nazaididuan1]

The government’s act of stabilizing the financial order prohibits cryptocurrencies!
The cryptocurrency has affected the financial order to a certain extent, and there is no way to supervise the cryptocurrency!
The risk of investing in cryptocurrencies is high, making it difficult to recover losses!

[awik p]

One of the main reasons is that the spread of scam is used as a result of the manipulation,goverment can not control the transactions, used in illegal activity and the government thinks it affects the country's economy but it is not the reason

i think by giving strict regulations to ico, it will filter out the quality, so competition will be healthy, and not many investors will be deceived, i think that is a good first step.

[Btc_1856]

One of the main reasons is that the spread of scam is used as a result of the manipulation,goverment can not control the transactions, used in illegal activity and the government thinks it affects the country's economy but it is not the reason

i think by giving strict regulations to ico, it will filter out the quality, so competition will be healthy, and not many investors will be deceived, i think that is a good first step.

Governments should come up solutions for this ICO's otherwise, many people who don't know about the blockchain are launching the ICO and scamming the people. So it is always good to have rules and regulation for launching any ICO.

[jjohnathn]

One of the main reasons is that the spread of scam is used as a result of the manipulation,goverment can not control the transactions, used in illegal activity and the government thinks it affects the country's economy but it is not the reason

i think by giving strict regulations to ico, it will filter out the quality, so competition will be healthy, and not many investors will be deceived, i think that is a good first step.

Bitcoins are involve with wrong activity. Terrorist use bitcoin for anonymous transaction and buy weapon. Drugs mafia are also sell there drugs anonymous and receive money via bitcoin which is destroying the economy and environment.

[geberger]

One of the main reasons is that the spread of scam is used as a result of the manipulation,goverment can not control the transactions, used in illegal activity and the government thinks it affects the country's economy but it is not the reason

i think by giving strict regulations to ico, it will filter out the quality, so competition will be healthy, and not many investors will be deceived, i think that is a good first step.

For government its hard to reach those criminals. That's why government don't want to public bitcoin and ban it. They don't want to destroy there country's economy.

[Seeker#9]

If a government is not yet prepared to welcome or allow bitcoin in their country, they will going to ban it or restrict its people from using bitcoin or other cryptocurrencies in their transactions. It will be difficult for the government to monitor the flow of cryptocurrency transactions because of its being a decentralized coin. The only way is to impose regulation on every cryptocurrency exchanges where all transactions mostly happens.

[Escf4]

There maybe a lot of reasons why the government of each country are bannning cryptocurrency in their country , this is because the residents in their country is not yet ready ,not yet familiar  with cryptocurrency , and the government want to take control over this cryptocurrency if in case ,it will be accepted by their own country, so from this time the cryptos has been ban from every country  which is not yet ready to accept cryptos.

[Silberman]

I think that many parties have their interests in banning crypto; especially banks and governments, also mass media is probably against crypto.

I'm thinking the other side with those that you have mentioned. There's a big money in cryptocurrencies so the government will never pass this chance to create a law that allows them to regulate and tax crypto transactions that will be ever done on their jurisdiction. The medias are paid and they are just expressing the thoughts of the organization or company that paid them.

They can pass whatever laws they want after all that is the power they have but what are they going to do to make people holding cryptocurrencies to comply with those laws? Even if the potential profits they could get out of those regulations is immense, it does not matter if they cannot force their laws to be followed and for the people to pay all of those taxes.

[malah]

some countries prohibit the crypto currency because there are differences in values between crypto and official currencies, and crypto currencies have unpredictable and always changing prices so that they will be harmful if used for transactions because they will affect the economy