Reason why other ban cryptocurrencies

[DisWhale]

Most governments ban cryptocurrency because they believe crypto does not offer security in its investments, hence cannot lead the people to invest in it. Others believe Bitcoin and other cryptos are used for money laundering, drug trafficking, terrorism funding etc.

[Mr.grin]

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.

Yes governments think this a threat to them and economic burden because as you said that it will be use for launder money and transfer funds in other country and cannot be handle by their government but this thing won't let happen if the government take a look of the transactions in other country so they can monitor it and use also crypto for the growth of the country.

well, of course there are many reasons for this. this happens when governments see the negative things about cryptocurrency, and predict that it can damage their economic system. but, for now, there are still very few countries that do this, and I think that there are still very many who use this. each country has different thoughts.

[FlightyPouch]

For me the reason why other ban cryptocurrency is because the government cannot control the incoming and outgoing of cryptocurrency in their country that may result into losing of income or tax by the government for now.

Why would that be a problem? There are a lot of criminals being caught using Bitcoin transacting to people from the Dark Web buying stuffs or hiring them. That just means that people can track the transactions of Bitcoin and that also means the government can do the same and they can still see the ongoing and outgoing crypto currencies in their country. If they want to put a tax on Bitcoin, they can do and they will not be losing an income or tax since there are still a lot of people using fiats and buying a lot of things in their country.

[binhvo1505]

That's not the main reason. Because blockchain technology also makes many criminals stronger. They can transport money over the internet, which makes it harder than ever to find them. There are many factors that make the Crypto market banned in some countries.

[joebrook]

Most governments ban cryptocurrency because they believe crypto does not offer security in its investments, hence cannot lead the people to invest in it. Others believe Bitcoin and other cryptos are used for money laundering, drug trafficking, terrorism funding etc.

Most governments don't have the ability and don't know how to tackle when criminals use cryptos to do things like money laundering and the financing of terrorism so the only option that they have is to completely ban since they don't really get a lot of benefits from it.

[redsap]

yeah many rich people are afraid in it, cryptocurrencies techconology can make their money making getting crash in the world , and can make unstable in it thats why they afraid

[jademaxsuy]

This could be true but the government could not expect that its constituents will going to abide the ban process for it will still be able to access some of the exchanges outside the country. As we all know that there are online payments now that could be use to purchase cryptocurrency so people living in that country where cryptocurrency is ban could still enjoy and participate in cryptocurrency.

[akram143]

This could be true but the government could not expect that its constituents will going to abide the ban process for it will still be able to access some of the exchanges outside the country. As we all know that there are online payments now that could be use to purchase cryptocurrency so people living in that country where cryptocurrency is ban could still enjoy and participate in cryptocurrency.

The reason why so many peoples are not get interested are there way to ban them because of the don't know what happening here and how it works this is the main reason people do not accepting if the currency is majority.

[Himanshu111]

This could be true but the government could not expect that its constituents will going to abide the ban process for it will still be able to access some of the exchanges outside the country. As we all know that there are online payments now that could be use to purchase cryptocurrency so people living in that country where cryptocurrency is ban could still enjoy and participate in cryptocurrency.

There are several reasons behind this ban of cryptocurrencies.Cryptocurrencies are not under the control of any central bank or government as they are decentralised and even taxes also cannot be implied on cryptocurrencies.Cryptocurrencies are risky as they can get hacked too.Cryptocurrencies are require internet connection which is not possible in every corner of the world therefore it is less supported in the market internationally.

[Lady Coquet]

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.

In my own personal opinion, the resons why other banned cryptocurrencies because they chose to believe in fake news about cryptocurrency that itbis only a scheme to trick people which is not definitely true and cryptocurrency is decentralized that the government cannot control it.

[snaper14]

I find some of their reasons to be indeed logical because if it is legalized than so many people would use it without control but on the other hand it is on the internet so even if you don`t legalize the money launders make the laundering in any case.

[KingScorpio]

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.

well reason is easy to find, just look at the bitcoin cult that insults constantly all other cryptocurrencies as "shitcoin" they want most attention for themselves and most economic purchasing power for themselves and of course also most value for their miners, there is no point arguing around here, they shill clearly for economic interests

and jes there will be also a poor economic performance, because those that work for money will basically end up being scammed,

no on will then work for money anymore and all want to print money and find stupid others that work for money.

[KGBx]

There are practical reasons, many like to insists that crypto is an amazing instrument for bad people to perform their shady doings but I think that positive effect from it is extremely higher.

[Akpuv]

Those banning cryptocurrency for some perceived reason of illegal use to me do not have a real point or argument.

[btcrut2017]

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 countries considered bitcoin as danger to people because they don't want to lose as what others emphasized. Sometimes fake news, scammers and hackers are making it worst. But if you go down into the details you will find bitcoin an amazing technology.

[Sarastiche]

Cryptocurrency transaction cannot be trace this give opportunity for  drug dealers,Terrorist and Arm dealers to transact globally,without any form of check and arrest, this Illegal deal is detrimental to the society and the global world at large,Also government want to be incharge and control the economic development of the country, this cannot take place with cryptocurrency reason why they ban cryptocurrency.

[Captain Sneeze]

The reason I know why governments of the other countries doen't allow to operate bitcoin because there's a high possibility that cryptos being used in the black market. It means cryptocurrencies is the easiest way for illegal transactions such as buying drugs, unlicensed firearms and others. The second is that there no insurance about cryptocurrencies. It means it is not advisable to rely to it. There is so many reasons why cryptos were banned and these two are the most popular.

[strideynet]

the government is simply trying to protect uneducated or inexperienced investors from financial losses. we cannot exclude this reason

[marine4u]

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 countries considered bitcoin as danger to people because they don't want to lose as what others emphasized. Sometimes fake news, scammers and hackers are making it worst. But if you go down into the details you will find bitcoin an amazing technology.

Many nationalities believe that Bitcoin and cryptocurrency directly affect their financial management systems, so they have consistently prevented cryptocurrency from growing. In the future, I believe that things will improve as the nations truly understand the benefits that crypto and blockchain technology bring to life.

[ylnar123]

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.

You got a point. Another reason I see is, maybe the government are just protecting their citizens from a volatile kind of currency. Maybe they don't want to misguide their citizen about crypto because it is very crucial and critical to engage in cryptocurrency.