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Author Topic: Why Government does not like crypto?  (Read 14724 times)
sapnu
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September 21, 2018, 11:57:47 PM
 #121

Cryptocurrency is the most popular terms nowadays. People like cryptocurrency so much. Many people are involving in the crypto world. Everyone wants to earn money from cryptocurrency. While people are liking cryptocurrency, Government does not like it at all. In some countries, the government banned the cryptocurrency. What is the reason behind this banned?
There are many possible reasons. First of all, most of the cryptos are decentralized meaning, government has no full control of it. Another thing is the market volatility wherein consistency on the market price of cryptos are not stable which would be a huge issue since a currency must have stability on the market value to promote equality in the market.

 
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September 22, 2018, 12:06:07 AM
 #122

crypto is purely secured and could not be traced. governments are fearing of that crypto can be utilize to illegal work out. in my country which is Pakistan crypto is not accepted. because government have fear that it can be use for money laundering and also government have not sources to trace crypto transactions.
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September 22, 2018, 12:12:34 AM
Last edit: September 22, 2018, 12:26:24 AM by umrohyuk
 #123

government will think that they cannot able to control the economy of the country because of cryptocurrency. so far, crypto has given easy way to get paid without any control from government. if people have eager for crypto, it may give bad effects on government in terms of profit.
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September 22, 2018, 03:57:17 AM
 #124

Most of the reason is that bitcoin is uncontrollable and volatile which makes it risky not only for investors but also for users. It would be hard to trust on crypto if the price will simultaneously go low then suddenly is high. if the price is too low, working capital is too low which makes it a high risk for investors to invest. if the price is too high we might just randomly buy and buy something then the price will suddenly go down and companies will be in debt if that happens. Users are at risk too because of scammers and again the unstableness of bitcoin.

 
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September 22, 2018, 04:29:05 AM
 #125

The main reason why government hate cryptocurrency is because of the anonymous nature of the technology behind it.

Govts hate something that can't always have access to scrutinize, government officials want to track every financial transaction you make and they see crypto as a threat to that.
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September 22, 2018, 04:37:13 AM
 #126

Cryptocurrency is the most popular terms nowadays. People like cryptocurrency so much. Many people are involving in the crypto world. Everyone wants to earn money from cryptocurrency. While people are liking cryptocurrency, Government does not like it at all. In some countries, the government banned the cryptocurrency. What is the reason behind this banned?
Because the crypto currency will destroy the entire economy of the planet. Crypto currency is a way to make money only for ordinary people, but not for the government. Who wants to go to work for a factory or office, usually to earn money and give some of this money to the state in the form of taxes? If you can sit at home, in a comfortable for you conditions, sell and buy a crypto currency. And you do not have to share with anyone, even with the state!
Yeah with a little extra info, but not all governments banned the cryptocurrency. For example, in my country cryptocurrency can still be traded at the local market. But on condition that they have to pay taxes to the state. So it can be concluded that if the buying and selling activities of cryptocurrency can benefit a country through taxes, then they do not need to ban it.

 
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September 22, 2018, 04:38:14 AM
 #127

Cryptocurrency is the most popular terms nowadays. People like cryptocurrency so much. Many people are involving in the crypto world. Everyone wants to earn money from cryptocurrency. While people are liking cryptocurrency, Government does not like it at all. In some countries, the government banned the cryptocurrency. What is the reason behind this banned?

Well I think why they ban cryptocurrencies is that they are only protecting their own national currency and also concerned for such things like money laundering and any other illegal activities.

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September 22, 2018, 04:42:13 AM
 #128

Cryptocurrency is the most popular terms nowadays. People like cryptocurrency so much. Many people are involving in the crypto world. Everyone wants to earn money from cryptocurrency. While people are liking cryptocurrency, Government does not like it at all. In some countries, the government banned the cryptocurrency. What is the reason behind this banned?
In my opinion, because governments are afraid of the risk of gambling. Many serious incidents happen, they do not want the country has many evils.
Maybe the governments have yet to find a new direction, they still do not trust much in this market.
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September 22, 2018, 04:46:01 AM
 #129

I think there are many factors,  one I believe is that Crypto posses treat on Government as they may not be able to have total control of the people, for instance people will be lazy to work in government offices and that is a loss to the government and that is why most government want cryptocurrencies to be regulated and poses huge tax on its adopters.
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September 22, 2018, 04:47:30 AM
 #130

Cryptocurrency is the most popular terms nowadays. People like cryptocurrency so much. Many people are involving in the crypto world. Everyone wants to earn money from cryptocurrency. While people are liking cryptocurrency, Government does not like it at all. In some countries, the government banned the cryptocurrency. What is the reason behind this banned?

As far as I know, every government does not have full authority over cryptocurrency, so the government never hates Cryptocurrency. the problem is at the banking center in the country, as happened in china. China's banking authorities have banned and determined crypto presence in their country. that is why the government prohibited it because of the wisdom of the institution.
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September 22, 2018, 04:59:32 AM
 #131

Governments do not like the crypto because it is a shadow tax-free market. Also, on the basis of the crypto currency, crime is rampant.
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September 22, 2018, 05:04:40 AM
 #132

I think there are many factors,  one I believe is that Crypto posses treat on Government as they may not be able to have total control of the people, for instance people will be lazy to work in government offices and that is a loss to the government and that is why most government want cryptocurrencies to be regulated and poses huge tax on its adopters.
it is only government politic way  to make people agree with their policy.government make us have no choice beside agree with their policy to attrack taxes from us.

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September 22, 2018, 05:07:48 AM
 #133

Why should the government have free money that is not taxed. So you're not paying the government anything. I think you understand.
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September 22, 2018, 05:12:12 AM
 #134

Cryptocurrency is the most popular terms nowadays. People like cryptocurrency so much. Many people are involving in the crypto world. Everyone wants to earn money from cryptocurrency. While people are liking cryptocurrency, Government does not like it at all. In some countries, the government banned the cryptocurrency. What is the reason behind this banned?

As far as I know, every government does not have full authority over cryptocurrency, so the government never hates Cryptocurrency. the problem is at the banking center in the country, as happened in china. China's banking authorities have banned and determined crypto presence in their country. that is why the government prohibited it because of the wisdom of the institution.

It is clear to everyone that cryptocurrency is a threat to the old banking system and banks will never like it grow and overtake them or the banks don't want to be bypass by any other system with economic activities. Governments on the advise of banks take decisions about crypto.
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September 22, 2018, 05:14:56 AM
 #135

Because it has no formal foundation and regulating authority, bitcoin is prone to being misused for illegal transactions, money laundering, and terrorism financing. This has the potential to cause a bubble of value. Because speculative virtual currency transactions. Not only does it harm the community later, such transactions can also disrupt the stability of the country's financial system.

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September 22, 2018, 05:24:06 AM
 #136

people using the crypt do not pay taxes, and this is even less revenue for the government
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September 22, 2018, 05:25:53 AM
 #137

May be from the income taxes coming from it. They can't hold the in and out of a certain profit coming from crypto. For many reason on different state. Government itself doesn't control crypto, may be someday it will made some resolution or an agreement.
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September 22, 2018, 07:04:34 AM
 #138

but in some countries crypto is even legalized and used as a legitimate payment instrument, maybe a country that has not yet allowed its people to use crypto because of the fear of the risks involved in crypto, as it is now when crypto prices are experiencing a drastic decline in energy, but hopefully along with the market recovery later, countries that allow crypto will increase
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September 22, 2018, 07:07:46 AM
 #139

The government will not support cryptocurrencies. The development of illegal transactions can cause a lot of losses for all parties. However, cryptocurrencies are decentralized and cannot be regulated by the government at all. So the government doesn't welcome encryption.
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September 22, 2018, 07:11:47 AM
 #140

Cryptocurrency is the most popular terms nowadays. People like cryptocurrency so much. Many people are involving in the crypto world. Everyone wants to earn money from cryptocurrency. While people are liking cryptocurrency, Government does not like it at all. In some countries, the government banned the cryptocurrency. What is the reason behind this banned?
A very important reason is that the government can't regulate the trading of cryptocurrencies, and some illegal organizations like to trade in cryptocurrencies. Lips sealed
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