Reason why other ban cryptocurrencies

[biskitop]

bitcoin is considered dangerous because it can be misused as an illegal transaction transaction tool, because it is anonymous and transactions using bitcoin are not through banks, even though it arrives abroad.

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[Dod Ong]

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 some of the governments think that the bitcoin cannot help their country to grow. Also they think that if they support the bitcoin it may affect the transactions in their friend country. The government didn't know that the bitcoin can help their economy to grow.

[gonzadz77]

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.

Government want to apply tax on every item but they're unable to apply on bitcoins. The last reason is its anonymous and not traceable we can't reach to that person who is sending money.

[gtglener]

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.

There are some reasons why cryptocurrency has been banned in various countries. The first and foremost is the weak economic system and the nature of the existing policies of a country that does not allow a country to work if a different system is introduced.

Majority of the policies of the country have been formulated keeping the national currency in the view and the instruments of the monetary policy and the fiscal policies that could potentially help eradicate or reduce the poverty and help the country rise the scale of employment and keep a check on the inflation. This is the reason some of them ban the crypto to keep their own system running.

[beezunus]

every country must have their own reasons why they ban the crypto currency and most of them ban because they consider the crypto currency to be dangerous with a fluctuating price so it cannot be used as a currency and will affect the economy

[drm]

Scared to give the people freedom, banning what they cannot control. The blockchain should be on the level of freedom of speech.

[basyang]

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.

It seems to me that people did not trust cryptocurrencies, or they see crypto as unsafe things because it could be used in an illegal activities, because Government did not aware of crypto. Its true that there has a reason why cryptocurrency banned in some countries because it is decentralized. And also Goverment has regulation in many aspect including the usage of suspicious things inside the internet.

[Silberman]

some governments prohibit or prohibit cryptocurrency in their territory on the grounds that it can facilitate laundry money. Fiat currency under government control is still used for money laundering. I think there are more decisions the government and government want to control cryptocurrency which is rather difficult for them because of decentralization

When you see those kind of contradictions then it is very easy to conclude that is not the reason of why they are doing that, and if they are not banning cryptocurrencies because of the possibility of money being laundered then we need to ask ourselves why? And the reason is simple because they do not obtain benefits out of cryptocurrencies and even worse they are affected directly by them and they cannot allow that.

[voanquan]

The government can not technically remove Bitcoin, but they can force it to be a currency in a company's history, change it back to value and not be able to easily convert it into any product the actual product. Which is as good as dead.

[Himanshu111]

some governments prohibit or prohibit cryptocurrency in their territory on the grounds that it can facilitate laundry money. Fiat currency under government control is still used for money laundering. I think there are more decisions the government and government want to control cryptocurrency which is rather difficult for them because of decentralization

When you see those kind of contradictions then it is very easy to conclude that is not the reason of why they are doing that, and if they are not banning cryptocurrencies because of the possibility of money being laundered then we need to ask ourselves why? And the reason is simple because they do not obtain benefits out of cryptocurrencies and even worse they are affected directly by them and they cannot allow that.

There are several reasons behind this ban of cryptocurrencies.Firstly these cryptocurrencies are decentralized and so no Central Bank or government as any direct control over it.Cryptocurrencies are very volatile and their price depends upon the forces of demand and supply.They are also very risky as they can easily get hacked.People also use fiat currency only for their day to day transactions because it is easily usable.

[max fray]

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.

Developed countries are OK about letting their people to deal with cryptocurrencies, yet their governments agree that there should be at least a minimum regulation of the market. I think that only countries with authoritarian rules ban crypto, as it gives their citizens more freedom and makes them less dependent on the state.

[Stark_Naked9]

As you can see what is going on the crypto market recently, the value of all coin has been going down a lot since early 2018. There is a lot of organization being bankrupt. It actually affects directly to the economy of the country which has more investor in crypto. Another reason, there is a lot of scam project currently. They are considering it as a bubble and easily to volatile.

[Altf4]

There are many reasons why others ban cryptocurrency , the many who bans cryptos are the countries who are not accepting bitcoin, for the reasons that the people in their country are not yet familiar or educated with cryptos, and the government and this technology will come to terms and conditions so that this cryptocurrency , becomes legit in operating in every country.

[bryant.coleman]

It is not very practical to ban crypto-currencies, because the ban can never be implemented. At the most, the governments can ban bank accounts being used for crypto transactions. But tracing all the crypto wallet addresses and then identifying the users is not practical.

[Duogembrot]

I think that is another reason why cryptocurrency is often banned by the government in a country because of the unstable price of bitcoin and they fear that bitcoin is used as a place for price games which means it will not be stable and will make some people lose when used for transaction.

[thevlox]

I think crypto ban is a new crypto because it runs on the internet. And it's not just now and other other market and highly fraudulent. The government does not want people involved in various scam risks. So the government does not recognize crypto. But I think crypto one day will be recognized. And it will be very popular.

[KEPLER99]

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.

In my view, the reason for banning cryptocurrency is the illegal use, no control, no taxation, circulation of money. These are all very strong reasons for banning cryptocurrency. People think that bitcoin will help economy of a country but I think that in this day cryptocurrency is not helpful for economy of a country. In the future when all the people start using crypto it may possible.

[sinkfish]

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.

No government like their money leaving their country unregulated. the worst is they cant tax anything from crypto currency trade.

[Silberman]

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.

In my view, the reason for banning cryptocurrency is the illegal use, no control, no taxation, circulation of money. These are all very strong reasons for banning cryptocurrency. People think that bitcoin will help economy of a country but I think that in this day cryptocurrency is not helpful for economy of a country. In the future when all the people start using crypto it may possible.

The reasons that you are giving are very strong to ban cryptocurrencies if you are a bank or a government but the people are going to adopt cryptocurrencies precisely because of those reasons, people more than anything want the freedom to do as they please with as little interference from the government as possible, this is not possible right now because governments are very powerful but thanks to bitcoin you will be able to do whatever you want with your money.

[Tervelatuk]

I think that is another reason why cryptocurrency is often banned by the government in a country because of the unstable price of bitcoin and they fear that bitcoin is used as a place for price games which means it will not be stable and will make some people lose when used for transaction.

government affraid if their citizen invest in cryptocurrency and lied by fake ico's.this is why so many government strongly reject about cryptocurrency in their countries.