Reason why other ban cryptocurrencies

[Ekimzjames20]

Because of the volatility of the price of cryptocurrency right now. It goes up and down way too fast that make a lot of people rich and a lot of others go broke. This fact makes cryptos themselves very questionable about whether they could stay for a long time.
Government of a lot of countries really get afraid of things that are not beneficial and not trustable that could affect their economies.

Because it is a digital currency than the transaction through online, no one can cotrolled it. It can be used for the bad transactions because no one can trace it.

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[Btcmicel]

Because of the volatility of the price of cryptocurrency right now. It goes up and down way too fast that make a lot of people rich and a lot of others go broke. This fact makes cryptos themselves very questionable about whether they could stay for a long time.
Government of a lot of countries really get afraid of things that are not beneficial and not trustable that could affect their economies.

Because it is a digital currency than the transaction through online, no one can cotrolled it. It can be used for the bad transactions because no one can trace it.

Yes no one can trace it at this time, because government did not already discover a machine detector for a digital currency. And i think it is not good also for our ecinomics.

[ronics]

so make the bitcoin a rule when it violates it immediately and becomes a band. this crypto with bitcoin is the reason they want to control it and manipulate a bitcoin like fiat. they are all things they can not do. and because of them they will find it a risk to their economy.

[pathapoddo]

It is simple. As crypto currency has no control or no record, so any one can do laundaring. Any one can transfer money to one to another without any info. That's why others ban cryptocurrencies.

[admosfir]

In addition to these factors the use of cryptocurrency is prohibited by government  due to high fluctuations so the government fears that fluctuations will affect the country's economy

[Sled]

They are just simply afraid and skeptical to this opportunity and the technology behind this so called cryptocurrency and it serves as a way for them to ban cryptocurrencies and they are putting negative thoughts and news about bitcoin to their citizens because that is how they can manipulate and make their open minded to a close minded one.

[omonuyak]

I think the reason why countries and institutions prohibite bitcoin is because it will take Jobs from the hands of financial institutions and power from governments.  Our governments will not like a system that is decentralized and thus will ever fight such system.

[Menawi12]

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 most government ban and prohibiting bitcoin because they dont have regulation to collect taxes. Many country right now preparing regulation on cryptocurrency so government can collect taxes from crypto transaction. I am believe in the end, government and regulator will approve cryptocurrency because government want to collect taxes and crypto transaction growing bigger every year

[Nnedaddy1]

I think most countries ban cryptocurrency because of the anonymous structure of the blockchain technology....which is indirectly encouraging criminal activities like...money laundering, drug trafficking etc.

[Crypto Girl]

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance

And you really believe that? I don't know where you get this but it's definitely absurd. And how does a digital currency affect the economic growth when in fact it doesn't acknowledge by the government. And you can't accuse bitcoin that can be use in money laundering just because it's decentralized. I mean if someone is really up to it he definitely find a way beyond what you can think of.

"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.

Because government is afraid that this can eat them as a whole. They just afraid from their shadow.

[stely]

It is simple. As crypto currency has no control or no record, so any one can do laundaring. Any one can transfer money to one to another without any info. That's why others ban cryptocurrencies.

Reason is the anonymity of the transactions and, therefore, the difficulty in tracking the source of money. The banks claiming strict adherence to know-your-customer norms to prevent money-laundering.

[nl247]

Because of the volatility of the price of cryptocurrency right now. It goes up and down way too fast that make a lot of people rich and a lot of others go broke. This fact makes cryptos themselves very questionable about whether they could stay for a long time.
Government of a lot of countries really get afraid of things that are not beneficial and not trustable that could affect their economies.

Because it is a digital currency than the transaction through online, no one can cotrolled it. It can be used for the bad transactions because no one can trace it.

Well, that fact with the government not having the power in their hands as usual is one major threat to them and one of the reasons they have been trying as much as possible to put a huge strong hold in the space. It is a deregulated or simply say decentralized space and that simply goes against the normal form of government ways of doing things with regulation. Apparently, we should expect there is no way it wont end up this way until either one would have to succumb, or both will just have to go hand in hand to make everyone happy.

[el kaka22]

In addition to these factors the use of cryptocurrency is prohibited by government  due to high fluctuations so the government fears that fluctuations will affect the country's economy

But I believe they just ban it because they do not understand the whole concept, the people higher up who are doing these banning and outlawing and all that just doesn't know what crypto is and they are banning because of the bad news they have heard some time ago.

If someone with a bit of knowledge of bitcoin and crypto in general has a shot, they probably will be delighted to put regulations on bitcoin. Think about it, governments are always looking to make extra money, so why not just make money from putting some taxes on the profits of people on bitcoin ? Think about it last year when bitcoin went up everyone paid a lot of taxes, now those people are not making any money but government already made a profit from those people.

[Ucy]

Bitcoin can work (and has been working) without government intervention or regulation. It will become mere fiat currency If they(governments) succeed in regulating it .
If they succeed, they will most likely take away its important features such as, transparency, anonymity, censorship resistant,  permissionless,  Decentralization etc
Is that what you want for Bitcoin/Cryptocurrency? If yes, why are you using it in the first place? You currently depending on a system you don't like.

[a4techer]

The government have a reason why they ban bitcoin or cryptocurrency in their country because it happen to my country last year when the value rise up to $20,000 because they are avoiding scammers just like other country we don't know what is the main reason but as i think government wants also to control the money and avoid scammers. We know cryptocurrency it don't have any regulations so that government was afraid to the negative result of cryptocurrency.

[Dread Pirate Roberts]

because definition of anonymous in financial there are still many who think it can be used to make payments for illegal goods or services. and also they only avoid it even though the fact is that it is certainly not possible to happen in a country directly, they must provide a solution, not just ban.

[bajigur894784]

Many countries fear that digital currencies like bitcoin will pose a great threat to the financial stability of their nations economic system.

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

[organicrice]

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 reason why cryptocurrencies ban. because other country doesn't know what cryptocurrencies means.. They not know what is this that's why they ban.

[Btcallans]

I think the most common aspect why other countries keep banning cryptocurrency is due to the security measures. Many already become a victim of scams at many still doubting if there is someone who is manipulating the prices of cryptocurrency.

[liliano]

bitcoin and crypto are feared because they are used as a means for money laundering and this is logically correct, but in our country suspicious or fantastic interbank transfers will not be easy because all there are reasonable minimum transfer procedures with certain reasons or objectives. So here the role of the state is still there even though it will be for crypto purchases, but this purchase will cause a change in the local currency to crypto so that the country can see and analyze where the money is going