Reason why other ban cryptocurrencies

[Farma]

perhaps a strong reason is indeed money laundering. by utilizing cryptocurrency, it can be done. therefore, each exchanger has KYC requirements for spending a lot of money, thus, it can be minimized a little.

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[1Referee]

The control governments want is much more related to TAXES. That is the point. When you deal with the country's official currency, you are generating income for the government: international or national transactions. Without these taxes the government can't survive as the well-doer, the benevolent charitable and then its mightiness is in risk! They want people depending on the government, and Bitcoin threats this relation between state and people.

It's actually not about taxes. Bitcoin can already be taxed since the existing system (that has been in place for decades) covers pretty much everything. It's just people who assume that they don't have to pay taxes because Bitcoin isn't legalized or regulated. It's false.

Also, crypto in its entirety is still a niche market, so what's the government exactly losing when you don't pay due taxes? If there was no crypto there would be no extra tax income for them at all, so in all cases they should be happy that at least some (which will only increase) people pay tax over their gains and whatnot.

Bitcoin is a tool allowing you to store your wealth outside the traditional banking system where governments and corporations no longer can terrorize you. If the government controls your finances, it controls you. If the government can't control your finances, they can't do shit other than to change their attitude towards you in a positive manner, because you are the one in control now.

[adpinbr]

for me there could only be two reasons 1)which is the local government does not have control over bitcoin 2) They have no access if transactions are done and illegal stuff are being transact.

[toolucky98]

The goverment from many country is worry whe the money in his teritory is going in other country who can his country in bad condition and its can makr a crisis

the government always don't like something that they can't control, when they can't control something it means they can get any profit or benefit from it

[laracastvue]

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.

The simpliest answer is, there are some countries that cannot handle the growth of cryptocurrency because their economy is not going well.

[sunsilk]

That's one thing why some countries are restricting their people to use bitcoin.

But IMO, the main reason is to avoid their citizens to be involved with funding any rebel or terrorist group which can be done through crypto transactions. Another reason is to avoid also illegal activities where their citizens can also take that advantage.

It has been popular before when bitcoin isn't on the mainstream but now its being used and adopted from many countries where it is used as a means of payment through good transactions and is being regulated to generate the government tax profit.

[Nakedbitcoin]

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 know Satoshi Nakamura's purpose of inventing bitcoin which gave birth to cryptocurrency and decentralization is for the common good. But there are just people who abused the use of this. That is why the government is reluctant about this.

[mrcash02]

The control governments want is much more related to TAXES. That is the point. When you deal with the country's official currency, you are generating income for the government: international or national transactions. Without these taxes the government can't survive as the well-doer, the benevolent charitable and then its mightiness is in risk! They want people depending on the government, and Bitcoin threats this relation between state and people.

It's actually not about taxes. Bitcoin can already be taxed since the existing system (that has been in place for decades) covers pretty much everything. It's just people who assume that they don't have to pay taxes because Bitcoin isn't legalized or regulated. It's false.

Also, crypto in its entirety is still a niche market, so what's the government exactly losing when you don't pay due taxes? If there was no crypto there would be no extra tax income for them at all, so in all cases they should be happy that at least some (which will only increase) people pay tax over their gains and whatnot.

Bitcoin is a tool allowing you to store your wealth outside the traditional banking system where governments and corporations no longer can terrorize you. If the government controls your finances, it controls you. If the government can't control your finances, they can't do shit other than to change their attitude towards you in a positive manner, because you are the one in control now.

Bitcoin can be already be taxed, but it can be used without paying taxes too, it's possible and most people go through this way. On the currently time it's still a niche, as you say, but don't governments think on long term, on what Crypto-Currency can become? And for them it's better to be prepared since now for what is coming, as it's inevitable.

The finances control point is valid too. There are many decentralized investment options nowadays without frontiers thanks to Crypto-Currency, it removes the money from the banks hands, so they can no longer make an huge profit and give you a little percentage of the total profit. The relation between banks and governments is too strong, if you affect banks income the government will suffer.

[BartS]

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.

The explanation to this is simple they are afraid to lose their power, governments love to control their population, many governments think they own you despite that being completely false, this is why they feel entitled to know everything about you but bitcoin is going to take that power away from them and they are afraid of that, they are thinking about how they are going to regulate the society as much as they can today and the simple answer is that those days will be over soon and they do not like it.

[buternasek]

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.

not only that, I have heard various reasons related to the refusal of bitcoin.
but it's not entirely comprehensive, I think the comparison between those who agree and disagree with the presence of bitcoin is 50:50. that's my personal opinion.

[maarx]

Fiats price drop would be a main reason behind banning of crypto currencies. Its purely a competition between fiats and crypto cirrencies in the market. The investment is falling on crypto currencies then on fiats. Circulation of currencies matter. Govts rely on fiats and encourages their citizens move with fiats ratjer then crypto currencies, thus they ban crypto.

[Indrawan77]

There are so many reasons why crypto being banned, the crypto doesn't really give a good benefit to the country, the country cant control it and its easy to do tax evasion, the money laundering reason is a bit absurd, but the government will used a lot of ways to surpress crypto movement, and as long as the government cant gain control, the government will not accept crypto

[ngano ba]

The reason of why orher ban cryptocurremcy, because they are not in campatible with it, the  government of a certain country ban crypto currency ,because they want to regulate it but bircoin does like the terms of the government, do that is why there are many countries who do not accept cryptocurrency.

[boksoon]

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.

Other Country usaully ban of crypto currency because they are not totally ready to use it because of a lack of resources to facilitate of all mandate related to bitcoin, example internet facility and electricity is  main important uses that could be use to bitcoin that's why other country are not approved to use bitcoin. 

[0t3p0t]

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.

Other countries ban Bitcoin maybe because they might see something like a threat to their own local currency or it can be used in any illegal activities like buying of drugs, weaponries, fruads and of course funding of terrorists. Governments also is concerned about something they cannot control that is why sone countries prohibit the use of cryptocurrency. I am very happy as my country just regulate our local cryptocurrency exchange instead of implementing a total ban on it.

[yugyug]

It all depends on how the government handle the crypto like bitcoin for their economy like Japan for example they did not ban BTC instead they embraced it and allow it as a legal tender and that time it rallied the value of bitcoin a year ago.

[BaraxLo]

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.

Well, cryptocurrencies are quite bad and can even have serious bad effects on a country’s economy, but apart from that there are still people who has managed to achieve success with the help of cryptocurrency. Lots of people has gone from being poor to being rich and it was all due to they got into cryptocurrency. 

So everything that has a disadvantage,  check it, there is always an advantage too. There are lots of countries trying to stop bitcoin, and there are also countries that don’t care about it.

[KingdomHearts]

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.

In my opinion, I think they are banning cryto currency it is because it is a decentralized. The government doesn't have the rights or to regulates crypto for it must have to undergo taxation.

Well,  you’re right and the op is also right about what he or she said. Some governments are not really looking at taxes, they just want to stop it cause they feel it is very bad for their citizens to be using such a thing as cryptocurrency ,and as OP said, there are chances that it can lead to poor economic performance. It’s still the same thing as you said though, they want something they can be able to regulate.

[Saveplus]

Some government banned bitcoin for some many reasons like they cannot control our transactions because it was decentralized.They want to regulate it and gave by law by bitcoin.But their reasons are not enough to end crypto.

[Fear]

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.

Most of the politics guys in my country are just afraid that bitcoin and cryptocurrency integration will prevent than to steal money as they used to do before, and so they would not allow it.