Reason why other ban cryptocurrencies

[Silberman]

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.

Governments do nothing and yet they ask for a substantial amount of your income every month so they can steal it and keep it to themselves, and the banking system is very happy to allow them to do that because they are stealing from the population as well, but bitcoin does not allow them to do that, and they do not even know who is using bitcoin and they do not know how to get that money out of them, and until they figure out how to do that they are going to ban cryptocurrencies because they do not want to lose the monopoly they currently have when it comes to charging taxes and printing currencies.

[1715383045]

1715383045

[1715383045]

1715383045

[1715383045]

1715383045

[1715383045]

1715383045

[dongyi17]

Each countries had their own best interest secured they don't want to compromise their security, in terms of cryptocurrency some ban it, some plan to make their own crypto and yah we can't blame them for doing this with all these scammer and hacker and money laundry doing they want to secure their asset or their own money.

[squog]

It is true. Essentially, a country bans crypto currency because that country won't get a cut from the profit its constituents get from trading crypto currency. After careful considerations, and alot of lobbying, crypto currency will be allowed to used a country but an exhorbitant amount of tax will be implemented.

[Commitments]

Many fake and manipulation of cryptocurreny, almost of owner make new coin based on how could take much profit and giving fake and scam promised to the investor. They are giving bad effect for other coin and make bad reputation of bitcoin.

[onrise]

Many fake and manipulation of cryptocurreny, almost of owner make new coin based on how could take much profit and giving fake and scam promised to the investor. They are giving bad effect for other coin and make bad reputation of bitcoin.

Many such new ICO is based on this formula itself that in short term the owner should make profit and he will sell his position and market fill crash and will never rise. It will be a huge loss to those investors holding such coins.

[MAJICOIN]

Crypto ban due to many reasons and governments have many objections like in many governments they are telling that bitcoin is not secure and it has no central control so people are afraid of this but in some countries bitcoin is legally accepted and it is using for many purposes. I like it's use for online payments and in the past the value were high as compared to now.

[BigBos]

Many fake and manipulation of cryptocurreny, almost of owner make new coin based on how could take much profit and giving fake and scam promised to the investor. They are giving bad effect for other coin and make bad reputation of bitcoin.

Many such new ICO is based on this formula itself that in short term the owner should make profit and he will sell his position and market fill crash and will never rise. It will be a huge loss to those investors holding such coins.

maybe the risk of this investment has made so many people who want to compensate and report it to the government. this is also the reason why in my country a warning is given about crypto users, that the risk must be borne alone. well, maybe because the risk is so great that many countries ban.

[tonyvo2017]

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 developing countries fear that electronic money will drain their currencies. Therefore, electronic money is what they see as a threat to the future development of the country. In addition, some of the security issues that arise from crypto transactions also make them aware and view them as dangerous.

[Leocristophe]

In some countries, there is an imbalance between cryptocurrency and currency. The government is forbidden to ban the crypto market because of its effects on e-commerce.

[Uhde]

because they are scared? crytpcurrencies are very well developped currencies with the power of blockchain technology. it is a very huge solution against nowadays traditional currencies. that is why many is started to scare from blockchain technology.

[Kittygalore]

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.

It has a point. It is probably the main reason, the government worries abouth the cryptocurrency market itself. But then it is not only the problem but also the government sees the cryptocurrency as a tool in doing illegal things. Ae should clear that cryptocurrency is not for bad things but rather it is a tool to boost the economy.

[higgidave]

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.

It has a point. It is probably the main reason, the government worries abouth the cryptocurrency market itself. But then it is not only the problem but also the government sees the cryptocurrency as a tool in doing illegal things. Ae should clear that cryptocurrency is not for bad things but rather it is a tool to boost the economy.

There's a lots of reason why bitcoin is banned in other country. First the main reason is scam. Many people got scam by believing in bitcoins the second reason is not paying tax it can be called the main reason why its banned.

[ShortClixneoai]

It is true. Essentially, a country bans crypto currency because that country won't get a cut from the profit its constituents get from trading crypto currency. After careful considerations, and alot of lobbying, crypto currency will be allowed to used a country but an exhorbitant amount of tax will be implemented.

It is not only imposing tax on income from cryptocurrency but there are many other factors, which cause banning cryptocurrency. The main problem is that cryptocurrency is not guaranteed. Many people do not invest in it because they think that it is a Ponzi scheme and there is no future of it. People will lose their money. People withdraw their money from banks and that is panic for government.

[meanwords]

I agree that the reason why others ban Bitcoin is because it cannot be regulated. Bitcoin can be use by everyone, anyone, and anywhere. The Government won't be able to know where did they spend their Bitcoin to because it it's semi-anonymous. Cryptocurrency can also be use to scam other people which the Government hates.

[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

Different government has different Agenda with cryptocurrency. Some government work with cryptocurrency to built their economy strong. Where as some government ban cryptocurrency in their country because it affects their country economy. Many cryptocurrency ban it because of cryptocurrency decentralised nature. And cryptocurrency are digital in nature because of this its user doesn't give tax to their government and this thing negatively affects an country economy. Cryptocurrency volatile nature affects an country share market so because of these reasons many government ban cryptocurrency in their country.

[virtfund]

Since cryptocurrencies are decentralised and can't be controlled by goverments, they wouldn't legalize them. Also, goverments don't see a clear advantage doing this right now. For example; tax problem isn't solved yet.

[jcarlo]

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 reason they ban cryptocurrency because it can used for criminal activity. I dont think thats real reason, the real reason government ban cryptocurrency or bitcoin is because they can control the supply and they dont hold the transaction data because bitcoin is decentralized cryptocurrency.

[tigershark]

It's fear of something that they can't control.  Something that they can't collect taxes on.

[Naughty Princess]

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.

Government is more afraid that their people could used it for illegal activities like cybercrime which can be hard to track who is the mastermind of it and can many people do such thing because of anonymity of every transactions. However, without banning it can give benefit also to the government because it can help for the growth of economy and no more people can be unemployed themselves.

[reality18]

One of the main reasons behind the ban of cryptocurrency in most countries is because it cannot be regulated. Most governments see crypto to be deceiving the people and does not give any assurance after investing in it. It cannot be considered as security, hence the governments cannot fully back it.