Why Government does not like crypto?

[chanler]

There may be some reasons why the government doesn't like crypto.
1. Cryptocurrency is decentralized. It means that the government cannot control the crypto and all people involved in this term.
2. This is opposite of the bank as the centralized system for money and saving.
3. Crypto may lead the economy and financial of the people in the country not stable and it can be deep polemic.

Aside from those reasons, crypto is actually a very promising ways for transaction, payment, benefits, trading, investment, and also earning money.

[godspree]

Government does not like crypto because it cannot control it.Because of it’s very nature of being decentralized. Because government cannot ban cryptocurrency and cannot prevent money from going to any other wallet till it knows the owner of wallet. So government can only control honest traders or buyers of cryptocurrency who purchase through bank transfers or self declare it.

[adzino]

Government does not like crypto because it cannot control it.Because of it’s very nature of being decentralized. Because government cannot ban cryptocurrency and cannot prevent money from going to any other wallet till it knows the owner of wallet. So government can only control honest traders or buyers of cryptocurrency who purchase through bank transfers or self declare it.

It is true that the government has no control over crypto currencies since it is decentralized. You are also stated correctly that cryptocurrencies cannot be banned, but you should know that the government can ban the usage of crytocurrencies. If the government imposes a law where the usage/transaction made using crypto currency is illegal, then the people of the country must follow the law. Or else they can be prosecuted. There are actually some (most of them are just corrupted underdeveloped countries) countries that made the usage of crypto currencies illegal.

[karashika0577]

The effect of the crypto currency falls on the economics of any country, governments maintain their hold on inflation. Purchase in countries, according to the needs and requirements, new currency is created. Taxes are imposed on the consumption of resources according to consumption. On the contrary, this is not the case in crypto. So there is no complete control of any country or government. There is no definitive account of how much quantity of currency is being created, there is no record. It is a separate platform, it has its own rules. Think of it that you are crypto, then there is no point in working with your country or the government. Then its direct effect falls on the meaning of the system. By which the economy is set to collapse. There are many other reasons why governments and countries do not like crypto. Anyway, there is a lot of burden on the governments of any country. By the way crypto will be adopted, there is no time limit.

[icotoko]

there are many illegal operations that are not tracked

[Ividanik]

Governments dislikes crypto because they can't control it. People can trade without taxes easily by using cryptocurrency and it can create big loss to the governments.

[Mandypast]

 Bitcoin claims that “It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen.” That lack of central authority is the primary reason governments are afraid of the cryptocurrency. To understand this fear, it is important to know a little bit about governments and conventional currencies.

 

[RobotNIK]

Because at the moment the crypto currency is not taxed everywhere and there is no legal basis for crypto currency, so they lose a lot of money!

[jpnl0005]

Government do not like crypto cause they can not control it unlike the regular paper money that there are commissions and every transaction made is being controlled by the government am so for this new Innovation called cryptocurrency

[lexkiee28]

Cryptocurrency is the solution to reduce the unemployed people and to earn a huge of money government does not like crypto because of they afraid to lose the taxation in crypto no boss to follow and it is decentralized no one owns it

[@baoli]

Government operates well with rules and regulation. With the decentralized way of cryptocurrency government does not have hold on it and it makes things difficult for them to collect their tax

[ThachSanhTp]

The reason is so easy that because Crypto is a real threat to the power of governments.
Most governments (specially in developing and under-developing countries)

[ghonkz]

because if many people using crypto fiat money will gradual death.
crypto giving easy payments for paying everything

[raven.tiu17]

Coz they have no control on the people's money and they can't even tax those people who wanted to earn huge profit so they are aware on that. AML is the big issue and governments will do everything just to give you tax. Always remember no one is above the law except if you have alot of money to give.

[UAE Seasider]

I am pretty sure that the Governments do not have any issues at all with crypto, the people causing the problems and driving the anti-sentiment would be the central banks who do not like the ideas of anyone else having any level of personal control over their own money.

[EducoinVietnam]

If cryptocurrencies become commonplace in our world, then the government will lose a lot of money. State-owned banks will not be needed and this is not all that can change. The state does not want to lose control and its funds. It's a perfectly justified decision.

[Auna]

That lack of central authority is the primary reason governments are afraid of the cryptocurrency. If bitcoin or another cryptocurrency become widely adopted, the entire banking system could become irrelevant. Governments intentionally increase or restrict the amount of money circulating in an economy with an effort to stimulate investment and spending and other things. But we all know bitcoin or other cryptocurrencies have no controlling authority. These are the main reasons governments are afraid of crypto.

[idioma1]

Because they can't control it

[bolshojkush]

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.

I think that cryptocurrency undermines the banking system. Banks offer a very low interest rate on deposits, and cryptocurrency makes you earn a lot of money if you invest wisely. Banks lose deposits.

[fumblingperch]

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.

I think that cryptocurrency undermines the banking system. Banks offer a very low interest rate on deposits, and cryptocurrency makes you earn a lot of money if you invest wisely. Banks lose deposits.

Banks are losing a lot of money, and in the future banks will start losing even more money and that is why the current formed banking system, with the support of the governments of some countries are struggling with cryptocurrencies.