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Author Topic: Why Government does not like crypto?  (Read 14724 times)
nur rochid
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March 23, 2019, 03:03:05 AM
 #1221

t is difficult for states to control cryptocurrencies. Also, states need to adopt regulatory laws and this is difficult because there are no norms for cryptocurrencies.
many countries always regard crypto currency as a negative innovation and only consider it for personal gain and many have to prohibit crypto currency to be accessed maybe if the government adopts a crypto currency economy system of course economic development will develop and progress rapidly
on the other hand, we do not know who the true creator of bitcoin is, so that it allows a particular country to develop it, of course it will ultimately benefit the country. moreover bitcoin has a limited supply, so it will be easier to control it for that country

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March 23, 2019, 03:31:51 AM
 #1222

The opposite also happens: crypto does not like governments. This statement can go either way.

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March 23, 2019, 06:38:00 PM
 #1223

t is difficult for states to control cryptocurrencies. Also, states need to adopt regulatory laws and this is difficult because there are no norms for cryptocurrencies.
many countries always regard crypto currency as a negative innovation and only consider it for personal gain and many have to prohibit crypto currency to be accessed maybe if the government adopts a crypto currency economy system of course economic development will develop and progress rapidly
First of all, any government tries to protect itself from the loss of funds, and a lot of taxes are lost because of the crypto currency, although some developed countries have found how to interact with the crypto currency to their advantage

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March 23, 2019, 07:50:27 PM
 #1224

The main reasons cited by the governments of those countries that banned cryptocurrencies are: the turnover of funds received from the sale of drugs, weapons, etc. But I think the main reason is that governments can not control the decentralization that cryptocurrencies bring to us, and therefore try to ban them.

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March 23, 2019, 08:06:14 PM
 #1225

The government does not totally dislike crypto but due to its unregulated nature some countries don't want to take the risk to accept crypto as a way of payment. government are just playing safe because they don't want to mislead their people.
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March 23, 2019, 08:23:49 PM
 #1226

The government does not totally dislike crypto but due to its unregulated nature some countries don't want to take the risk to accept crypto as a way of payment. government are just playing safe because they don't want to mislead their people.
in that view means that a country has not yet conducted a special study of crypto. every thing that happens must have two good and bad sides so that the government must be in that matter to find the best way because in my opinion crypto has a beneficial potential for many who want to understand

 
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March 23, 2019, 08:35:06 PM
 #1227

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?

It is a threat to Dollar which is the global accepted currency for trade and the general economics of governments. Also government believes it empowers all and sundry and making them loose control over wealth and funds transfer.

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March 23, 2019, 08:55:01 PM
 #1228

No cash flow should pass by the state apparatus, otherwise the latter loses control and will not be able to remove the commission from this turnover. Cryptocurrency at the moment is a bone in the throat of the state, as these are the ones who pass by without taxation.

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March 23, 2019, 09:07:42 PM
 #1229

Governments are banks have fear. Because cryptocurrencies are creating world where people have the power, the freedom and in this wolrd there is no future for centralization instituotion like banks and governments.  Cool
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March 23, 2019, 09:22:12 PM
 #1230

Some specific reasons behind the scene i think. Firstly cryptocurrency is anonymous platform that's why government cannot control it. And crypto is not belonged any country or company so government thinking what is the fundamental background to believe it. Highly risk involved because anytime market big crash. Another thing is economically hampered country growth.                             



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dawai asmara
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March 23, 2019, 09:24:36 PM
 #1231

The government does not totally dislike crypto but due to its unregulated nature some countries don't want to take the risk to accept crypto as a way of payment. government are just playing safe because they don't want to mislead their people.
maybe for now the government doesn't like crypto, but in the future crypto will most likely be adopted massively throughout the world.
I believe if it is only a matter of time until all countries legalize crypto as a legitimate currency.

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March 23, 2019, 09:41:21 PM
 #1232

While most countries are showing signs of positive interest toward cryptocurrencies others are yet to, but I think with time and mainstream adoption most world government will start liking the affairs of blockchain and cryptocurrency.

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March 23, 2019, 09:51:50 PM
 #1233

Direct taxation from individuals is the basis of financial resources and filling budget of the state. The volatility of cryptocurrency is the main problem.While hasn't been developed effective mechanism for taxation of income from cryptocurrency , the government will to forbidden cryptocurrency.

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March 23, 2019, 10:09:05 PM
 #1234

One of the strongest reasons is that the government is still hesitant and does not yet fully know that Crypto is very useful and a place for investment and transactions. Many of Crypto's negative sides are prohibited goods transactions that violate the law, but if the government uses them correctly there is certainly no problem. Maybe in the future the government of all countries will legalize Crypto.

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March 23, 2019, 10:12:17 PM
 #1235

t is difficult for states to control cryptocurrencies. Also, states need to adopt regulatory laws and this is difficult because there are no norms for cryptocurrencies.
many countries always regard crypto currency as a negative innovation and only consider it for personal gain and many have to prohibit crypto currency to be accessed maybe if the government adopts a crypto currency economy system of course economic development will develop and progress rapidly
IMO everything is not as easy as it looks. It will take a long time to transfer such a large economic system to newly created money system that has been established newish and has volatile price. There will be a more accurate time for the implementation of these processes.

 
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March 23, 2019, 10:37:30 PM
 #1236

Most government don't like cryptocurrency because they are trying to protect their people which is most times understandable. But, currently most world government are working towards using cryptocurrency and blockchain to improve services, so I believe when more adoption comes in other government will follow suit. 

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March 23, 2019, 10:44:23 PM
 #1237

Some governments see cryptocurrency as a means of laundering money earned by criminal means. Terrorists can transfer money through cryptocurrencies. I think this is the main reason why cryptocurrencies are prohibited in some states.
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March 23, 2019, 10:51:13 PM
 #1238

Cryptocurrwncy is so popular in the world that both student and Woking class are partaking in but government still go against it. But the main government don't support creptocurrency is that is so easy to embezzle nation fund.
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March 23, 2019, 11:28:54 PM
 #1239

there are many factors that cause the ban on crypto, some factors are that the government is concerned that inflation will occur if the state cannot regulate crypto, the government also concerned about money laundering, terrorist financing and other illegal acts because crypto is anonymous, the government is also worried that economic stability will be disrupted

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March 24, 2019, 01:46:02 AM
 #1240

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?

The government hates what it can't control. They are afraid the ordinary man will get rich through crypto and distablise the food chain. They are afraid that dollor will loose relevance and America will loose world power, they are afraid of getting redundant and having the common people empowered.

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