Reason why other ban cryptocurrencies

[Zalura]

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

it seems that many governments are wrong in making decisions about cryptocurrency, maybe they don't understand how digital currencies work, cryptocurrency strongly supports a country's economy by providing many conveniences in making payments between countries

maybe they just look at the negative side of bitcoin that can be used by criminals However, we have to look at the inter-state payment system that can be done very quickly without being constrained by the complexity of a country's regulatory system

so it is certain that buying and selling activities between countries will increase and the country's economy can be greatly helped.

[1713575356]

1713575356

[deppil]

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.

I think they know only from the negative side and determine the policy only from the bad side. bitcoin poses a threat to local currencies so many countries forbid it. that is from the negative side. of course there are positive aspects such as financial benefits for many people and so on

[BigTeeths]

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.

They're right, it is a Danger....Danger to their fortunes. Banks are just making much more money that they don't even need. The big interests just goes to them and not all to the government. And even after the government received some amount from it, it is already dwindled down because the officials have already shared some of its portion.

[Experia]

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.

They're right, it is a Danger....Danger to their fortunes. Banks are just making much more money that they don't even need. The big interests just goes to them and not all to the government. And even after the government received some amount from it, it is already dwindled down because the officials have already shared some of its portion.

that is the thing that the government want to stop they dont have the control since it will over the internet it is hard for them to monitor each and every transaction that is happening, people and government officials can transfer money without a trace with their identity.

[Airbuxf]

You are right but in this situation there is not much they can do about it. There are already untracable, anonymous coins. They will have to legalize it sooner or later.

[pragna]

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, many government are worry about cryptocurrrencies. As their inhabitants using cryptocurrency for illegal uses like-buying heroine, afim, bollet, Gun, and also corrupted things as well as. Thats why government are not accepting it as they have no control in cryptocurrency market. But when all government will accept it, it will come under supervision i think.

[Epimetheus]

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

No government never want something in their country which they cannot control and which can be affect their country economy or financial markets. Cryptocurrency are decentralised nature is the main point of view around this topic. Another thing is its untraceable and uninterrupted money transaction facility. This facility attracts many anti social people to use this kind of money transaction medium for their various crime purposes like kidnapping, cyber attack, malware attack etc. So it is another reason behind this topic. Another thing is its volatility which affects an country share market.

[pocketfullofpoke]

In contrast to the claims that those countries who banned cryptos are just afraid for the decrease of their GDP, Japan, for instance, states that because of their full adaption of cryptocurrencies, their GDP has grown significantly than those times when cryptos are not invented yet.

[jonatuzc]

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.

Volatility should be something every single person investing in the space should be able to understand and handle all by themselves, and should not be a criterion for the government to want to ban cryptocurrencies. Sure, we may say the main reason is that it is an uncontrolled space and that gives room for any manipulations, but as time goes on, and with some lenient form of regulation, I want to believe all these would change.

[BigBos]

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, many government are worry about cryptocurrrencies. As their inhabitants using cryptocurrency for illegal uses like-buying heroine, afim, bollet, Gun, and also corrupted things as well as. Thats why government are not accepting it as they have no control in cryptocurrency market. But when all government will accept it, it will come under supervision i think.

all of them refer to illegal transactions which will harm the government. because they don't have things that can prevent the transaction, so they ban crypto so they can reduce the fraud.

[SoiledDove]

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.

So governments don't like crypto currencies because they are unable to control them. So it seems crypto currency will be the one thing that gives the man or woman in the street back their freedom. I guess the government's role in the end will be to be an overseer and the people would be mostly independent with a financial system which is free from government control. Is this what we're looking at in the future?

[Brama Jasa]

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.

true, because some countries still prohibit bitcoin, but the fault is that the government does not want to join the cryptocurrency world and create legal exchange laws, sending and so on so that all transactions can be controlled, I think if all works together it is not impossible that the cryptocurrency will be accept in all countries

[spongegar]

If that is the only reason a country will ban crypto currency then why don't they juat have a KYC on their accounts to know anyone who is actually getting into crypto currency their their country. I think the reason for the ban is that banks are putting the pressure on the government because they are threatened by crypto currency growth.

[BartS]

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

I will say that what you say it is not completely accurate, cryptocurrencies are not good for the government but are good for the population in the country, you just need to look at countries that are in the middle of an economic crisis and how people are using cryptocurrencies to protect themselves from the bad policies of the governments and they do not like that, since how are  they going to control you if they cannot control your money?

[cryptocurrencyguru]

Baning cryptocurrency is of no use there is no certain way of banning cryptocurrencies they can keep only certain rules every now then but cryptocurrencies are decentralised

[Kat_messy]

Bitcoin is not banned anywhere in Europe, but mostly in 3rd world countries and in Russia and China.  They are banning  it only because it does not comply with they law system.

[rickyNmorty]

I think the reason why other ban crypto because crypto is a new currency, unstable, highly fraudulent and has not reached a certain balance like some other markets such as stock, gold .... Governments have not recognized crypto to protect people against scam risks. Once crypto is more transparent and stable, I think it will be recognized and become more popular.

The government perspective is the reason why it is banned. Government tends to disloke crypto because of its nature. Just like its decentralization, also it is uncontrollable. That is what the government do not like. They want to take incharge to things that will help the economy to rise. They wanted to have the role in everything.

[Dr.Osh]

Bitcoin is not banned anywhere in Europe, but mostly in 3rd world countries and in Russia and China.  They are banning  it only because it does not comply with they law system.

well, hopefully it won't increase. I also heard that Arabs banned bitcoin, and that was a shame. I just hope that they all open opportunities again in this case, so that the cryptocurrency can be developed.

[ucingucingan]

I think the reason why crypto currencies are banned by the government is because of the high risk that arises if you invest in this commodity, the simple example is when you buy crypto currencies at a certain price there is a very uncertain price movement. the opposite will make you experience losses...

[Ividanik]

I think the only reason is that banks worry about their business loses. And because they sponsorship politicians, they ask them to help keep money transferring business in their hands as much as possible.