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Author Topic: Why Government does not like crypto?  (Read 14724 times)
Ranly123
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December 19, 2018, 12:17:17 PM
 #841

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 not that they don't like crypto. All I can say is that the government does not want to misguide their citizens from such a volatile kind of investment. What the government want is the welfare for their people even if for other people it will be good.

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December 19, 2018, 12:26:14 PM
 #842

Actually, the government doesn't like Crypto because of many factors. And most importantly because of money laundering at Crypto. Of course, this will be a very serious concern for the government so that the government prohibits this from being accessed.
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December 19, 2018, 12:53:11 PM
 #843

Cryptocurrency has many advantages over paper money in terms of speed and ease of transaction but in terms of security and price stability it is very risky, maybe because of that the government does not legalize crypto to protect its citizens from hacking crimes that are difficult to track perpetrators.
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December 19, 2018, 01:33:58 PM
 #844

There are various reasons why the government doesn't like crypto. In my country, money laundering is the main reason why the government forbid crypto as the number of corruptions, fraud practices and tax avoidances are still quite big in here, much different compared to advanced countries like Japan & Switzerland.
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December 19, 2018, 01:37:00 PM
 #845

Think the government only wants to protect people because there is so much crime in cryptocurrency and also fear that cryptocurrency will be used for money laundering which, maybe because of that the government does not like and approve cryptocurrency, but maybe someday it will change.

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December 19, 2018, 02:05:56 PM
 #846

in my opinion, the reason why the government dislikes Cryptocurrency may be because crypto is still very unstable, the risks in it are very high and also the government may have difficulty regulating

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December 19, 2018, 02:49:37 PM
 #847

I doubt that governments do not like cryptocurrency, because they can still make profits from it, most likely they do not trust it!
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December 19, 2018, 03:53:02 PM
 #848

there are many reasons government doesn't like crypto.
among others, in terms of security cryptocurrency cannot be traced, so it can provide a gap for criminals to carry out money laundering and other transactions without being traced.
in terms of price stability it's always volatile so it can harm its citizens, so there are countries that prohibit its citizens from use it.
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December 19, 2018, 03:57:35 PM
 #849

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 does not like cryptocurrency because they think crypto is mostly used in illegal activities like scams, that is why there are a lot of countries who banned cryptocurrency and causing bitcoin's price to decrease real bad and other coins too.

 
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December 19, 2018, 04:12:30 PM
 #850

Not that the government doesn't like crypto, but the government's just being cautious.
It's not easy to accept new things like crypto for the government. Because if the government is wrong in taking the policy, it can cause something that will harm governments or their country.
Various countries have turned down crypto or as for those who receive crypto. There's not even a decision about crypto. and that policy has its own profit or disadvantage.
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December 19, 2018, 04:57:41 PM
 #851

Cryptocurrency can deprive banks and governments of methods of enrichment at the expense of ordinary citizens, providing full control of the latter over their funds and becoming a kind of shelter of people from financial crises .
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December 19, 2018, 11:06:08 PM
 #852

One of the reason why govermment does not like crypto because they think it was used on illegal transactions.
They have no control on it.
Crypto gives opportunity for everyone but still government doesnt like it. All they want is to have control on it and maybe to get tax on it.
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December 19, 2018, 11:26:15 PM
 #853

In my country, the government has said publicly to the media. That this Crypto has a negative side such as money laundering practices, for terrorist funding and a lot of fraud. So people who play Crypto are prohibited from using Crypto for payment media for buying and selling goods.
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December 19, 2018, 11:29:06 PM
 #854

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 does not like cryptocurrency because they think crypto is mostly used in illegal activities like scams, that is why there are a lot of countries who banned cryptocurrency and causing bitcoin's price to decrease real bad and other coins too.
That views will have changed when they are seeing the crypto becomes centralized currency that fully regulated by them all. As you can see that how they are taking this one as a serious problem. they will never try to like crypto until it becomes the centralized currency.

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December 19, 2018, 11:34:03 PM
 #855

Some governments see Bitcoin and cryptocurrency as a threat to their power. Therefore, they don’t like cryptocurrency.
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December 20, 2018, 09:08:35 AM
 #856

Money has always been and will be the main aspect. When people start paying taxes for owning a cryptocurrency, then the state will not mind either. But for this, you need to redo the entire banking system and make total control to track the flow of finance.
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December 20, 2018, 09:10:18 AM
 #857

the government considers crypto a threat because if they are not ready, crypto can disrupt many economic sectors and make them unstable, but if they are ready, crypto can become a solution

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December 20, 2018, 09:17:15 AM
 #858

Its very dificult becouse all economy in the world was built on other system, i mean banks, so we want btc run everywhere but if it happens at once then belive me crush is first thing would happen in the world and from other side its good they dont accept BTC at once but step by step it would happen ton so much but would,belive me.


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canaveralnonie
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December 20, 2018, 09:26:38 AM
 #859

Maybe because it's volatility and high risk expose on scamming and hacking works. Also, there are a lot of crypto whale who can manipulate some specific alt coins which is unfair to small time crypto user. Besides, the local currency will be ignore when time comes. Just my own thoughts, hope no offense.
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December 20, 2018, 09:31:28 AM
 #860

It makes more sense to me that cryptos could be adopted as a better form of currency when more people realize that blockchain acts as a "truth machine" in accounting practices - and then it will achieve wider adoption and take off.
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