Reason why other ban cryptocurrencies

[Burogh]

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 government ban and prohibit bitcoin because afraid used for money laundering. But if that a reason government ban bitcoin, i think its not fair too because US dollar used for money laundry too and much bigger than cryptocurrency

[tegacoll86]

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 that has led to many hindrances to the rapid development of Cryptocurrency. But now the capitalization of this market is huge and governments can do nothing but ban. Big criminals, big businesses are still laundering money to evade taxes a lot. the government can not do anything else!

You may right but this reason isn't enough.Due to replacement of fiat, Due to security reason, Due to there economy, increasing the crime rate, selling drugs and much more reason are there which case bitcoin banning.

[nur rochid]

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 government ban and prohibit bitcoin because afraid used for money laundering. But if that a reason government ban bitcoin, i think its not fair too because US dollar used for money laundry too and much bigger than cryptocurrency

besides money laundering, terrorist financing is also feared if bitcoin is legalized. but this is indeed different from Japan, where we have never heard of terrorists in that country

[kokobaba880]

I have observed that the crypto is ban by most of the developed countries and the reason which they are describing about crypto is they do not invest in bitcoin and other crypto because each and every second is risky like if you buy bitcoin at present price and keep it with you some time it's value is more devalue than fiat money so they are against of crypto.

[SirLancelot]

I think they banned Cryptocurreny because they can't control it more people they use for illegal activities.

Yes that is right. This is also one reason due to which the coins have been banned in various countries just because it can give the criminals the freedom to transact money across the borders with out any check. If there are government regulations, then the ratio of the crime could be minimized.

Similarly, policy implication is very important and if the policies suited for fiat are implemented with crypto in the market, the situation can lead to chaos that is why many countries have banned it.

[Helpme_please]

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 government ban and prohibit bitcoin because afraid used for money laundering. But if that a reason government ban bitcoin, i think its not fair too because US dollar used for money laundry too and much bigger than cryptocurrency

besides money laundering, terrorist financing is also feared if bitcoin is legalized. but this is indeed different from Japan, where we have never heard of terrorists in that country

crime usage in cryptomarket only small percentages.only around 0,xx % .and we never heard that terorist fund take from cryptomarket in large amount.

[Linhkej]

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.

Apart from the issue you mentioned, security is probably also part of the reason. It secures very confidential transaction information. This is a loopholes. This is clearly a good feature of crypto but it is used for criminal purposes. And the government can not control this and they have to put it on the blacklist.

[dowellness]

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 that has led to many hindrances to the rapid development of Cryptocurrency. But now the capitalization of this market is huge and governments can do nothing but ban. Big criminals, big businesses are still laundering money to evade taxes a lot. the government can not do anything else!

In my country its banned the reason is people of my country are start using bitcoin and they're not paying tax to government.Poor government can't do anything they'll never able to develop country.That's the reason why its banned in my country but it never matters because bitcoin is everything for me and i will use it.

[nano77]

I think, the reason the government banned the crypto currency because of the risk, the crypto currency has a high risk because the price is volatile and keeps changing so that it cannot be used as a good currency

[fordsons]

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 that has led to many hindrances to the rapid development of Cryptocurrency. But now the capitalization of this market is huge and governments can do nothing but ban. Big criminals, big businesses are still laundering money to evade taxes a lot. the government can not do anything else!

Of course it is dangerous for many governments because they have nothing to do with cryptocurrency. They cannot impose taxes on profit due to decentralization. Banks are going to empty. People are putting their money in cryptocurrency and there is no way to stop crypto transactions. They can only ban crypto trading and many of them have already banned.

[richmcrich]

I think maybe because of the thinking that people who are enjoying cryptocurrencies lead them to lazyness and being unproductive.

Due to several issues which are out of the access or control of government is the reason to ban crypto currencies. If they control other situations what goes wrong then everything will become fine and there will be nothing to worry about so who else does not want to enrich itself with the benefits of crypto currencies.

Like countries where the Bitcoin is going stable they have achieved many thing from it and other are also copying the system of those countries just to benefit with this asset.

[Ericgreen]

In my view of point there is three reasons behind the reason of ban cryptocurrencies. First reason for any country to ban cryptocurrency is the fact that cryptocurrency are not under the control of any Government. Government will lose their power over money, at that time government/country will destroy lacking of fiat money. Govt. cannot control cryptocurrencies. Govt. won’t get tax. Second reason if cryptocurrencies make legal then people will invest there because it more profitable than bank. People will be free in this blockchain transaction; they can transaction freely without any burden. In cryptocurrency system there is easy way to laundering money that’s way people won’t go to the bank for laundering. If people don’t go bank, banking sector will be down. Third reason is bitcoins price is not stable. There are lots of waves in a week. When its price will be dumb then people will get panicked at that time govt. won’t  control people as well as cryptocurrency. but other people who wanted to use bitcoin or any others crypto investments remained anonymous and still uses cryptocurrency despite of the banning issues.

Yeah you are right. When the government has no benefits in crypto investment, no doubt they will ban it. They do not want the money to invest outside the country. People say that cryptocurrency will help the economy but the facts are different. Till the legalization of bitcoin or Altcoin government take no benefits of cryptocurrency investment. They should think about it.

[bongnor531]

I see the fear is in the nature of the cryptocurrencies, as they are decentralized. Governments tend to keep as many things in one hand as possible and that is especially true for finance.
However, many governments and central banks are interested in implementing the technology behind it.

[yamete kudasai]

I think why other countries ban cryptocurrencies because of its lack of information about cryptocurrencies or there is no trust towards of it , Some bank officials want to ban crypto here in our country but many people talk to the government about the benefits and wills that they well get .  

[parapencariuang]

yes that is also the reason why the government is always blocking cryptocurrency. besides that, the thing that is feared is that bitcoin can be used for negative things such as money laundering, banned sale and purchase because bitcoin cannot be regulated by the government and also tracked its use. But, the government should also make the latest innovations so that currencies like bitcoin can at least be traced so that bitcoin is not used as a money laundering method.

[Magkirap]

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.

We all know that cryptocurrency is the new modern currency which can transfer money easily and instantly. The reason why they ban it is they can't control this currency simply because of its being decentralized. Cryptocurrency has no tax and I think it is also reason why they banned it. Lastly, I think they certain reason why they banned it but I do believe they will recognize the real use of cryptocurrency in the near future.

[Himanshu111]

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.

We all know that cryptocurrency is the new modern currency which can transfer money easily and instantly. The reason why they ban it is they can't control this currency simply because of its being decentralized. Cryptocurrency has no tax and I think it is also reason why they banned it. Lastly, I think they certain reason why they banned it but I do believe they will recognize the real use of cryptocurrency in the near future.

There are several reasons behind this ban of cryptocurrencies.These cryptocurrencies are very volatile and the price depends upon the forces of demand and supply.When the demand rises the price will rise.These cryptocurrencies are also very risky and they can easily get hacked.Cryptocurrencies are also decentralized which means no central bank or government has any direct control over it.Taxes also cannot be implied on these digital currencies.

[Dr.Osh]

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.

We all know that cryptocurrency is the new modern currency which can transfer money easily and instantly. The reason why they ban it is they can't control this currency simply because of its being decentralized. Cryptocurrency has no tax and I think it is also reason why they banned it. Lastly, I think they certain reason why they banned it but I do believe they will recognize the real use of cryptocurrency in the near future.

There are several reasons behind this ban of cryptocurrencies.These cryptocurrencies are very volatile and the price depends upon the forces of demand and supply.When the demand rises the price will rise.These cryptocurrencies are also very risky and they can easily get hacked.Cryptocurrencies are also decentralized which means no central bank or government has any direct control over it.Taxes also cannot be implied on these digital currencies.

well, of course the tax problem is always the reason why bitcoin is forbidden. well, but I think, there are some people who buy bitcoin just because they don't want to pay taxes. but I think that's quite strange, because buying large amounts of bitcoin will be a risk, even that can make them lose more money than pay taxes. well, but surely there are some reasons that make the government ban bitcoin.

[AncientMystery]

Crypto is a real threat to fiat currencies and to variety of governments actually because some of them do outlaw things inside their countries and with their money as well.

[BartS]

Government globally want to ensure they protect there citizen and economy against the lost in crypto as the space is quit volatile and also without regulations that can serve as a control mechanism in the space, this are some of the reasons why government ban crypto in there countries.

That is not really what they want, what governments want is to limit your freedom, if it was up for them they will not allow a single person to do anything without their supervision, they want to control every single aspect of your life and bitcoin allows you to stay out of that control in one of the most important aspects which is money, if governments cannot control your money then the amount of control that they have over you drops dramatically, they understand this and they do not like cryptocurrencies because of it.