Why Government does not like crypto?

[fcklife]

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?

i did not agree that governments hate cryptocurrencies but in fact there are countries that are embracing cryptocurrencies as their national currency like venezuela and iran i think government are just protecting its citizens on foreign technologies that may disrupt the current economic situation which is the prime purpose of the government to protect.

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[testadimerlo]

I like crypto but it's true: a totally unregulated market could be the paradise for a lot of criminal activities. I hope will find the right way in the middle.

[pinovero]

because crypto currencies is the picture of independence.. they cant control these currencies they didint create these currencies.. goverments always dont like somethings which they cant control. because of that we love crypto currencies. we are free now.

[shaheer001]

Because govt has no benefit yet from crytpo trading as this is decentralized technology and no one can trace your transaction(mean no one have proof that the transaction is from You) so now govt specially  G-20 countries are making laws to take it under control.

[Denies]

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?

I think the government does not hate cryptocurrency, even though there are restrictions in some countries but the fact is not because the government does not like cryptocurrency, the main factor is from the banking authorities who say that bitcoin or cryptocurrency is a bubble coupled with ico which is a scam. That's why some governments forbid it.

[kjn311]

I completely understand that. The state wants to control the finances of citizens and be able to protect them from fraud. I think that so far our society is not ready for the cryptocurrency to be controlled by the state

[vandeam]

Because blockchain technology allows you to monitor all transactions that have been made. This is not very good for the government and I think they don’t want to show where they spend their money.

[BartS]

the government does not like crypto, because Crypto cannot be tracked who the users and the transactions with whom, therefore the government is worried that crypto can be used for crimes, such as corruption and terrorist financing.

That is not really the reason, if they were worried about such a thing then there will be very strict conditions about transacting fiat and that is not the case, what they are worried is about to lose control over the population, control that has take them centuries to have and then suddenly out of nowhere satoshi nakamoto created a way to avoid that and they are not really happy with this, that is why they are doing their utmost effort to try to avoid people to adopt cryptocurrencies in the first place.

[swetka]

Because blockchain technology allows you to monitor all transactions that have been made. This is not very good for the government and I think they don’t want to show where they spend their money.

If the technology is completely transparent to prevent any crimes, then why does the government make a statement that the Crypto currency is a threat to their national interests?

[Sylvial]

Some governments are outright ignorant. They do not know more than bitcoin and they see it as one ponzi coin out there, and they chosen not to learn anything about it

[ZeusRecife]

acho que seria pelo fato deles não ter nenhum controle sobre o blockchain por exemplo proibir um endereço de enviar ou receber ou pelo fato de ser transparente

[tterrorpipa]

I think they are going to banned crypto because most of the government these days, always relies on the tax for every transactions. Not like cryptocurrency, its feature like a digital remitances, it goes directly to its recipient without going first to government for prior tax. That is what I think.

[Lagduf]

I think they are going to banned crypto because most of the government these days, always relies on the tax for every transactions. Not like cryptocurrency, its feature like a digital remitances, it goes directly to its recipient without going first to government for prior tax. That is what I think.

Cryptocurrency can be taxed too only if the government competent or strong enough to do so. It's like in japan where they even got additional income from taxing cryptocurrency transaction, if the government are really smart, they can see that cryptocoin could actually bring them
additional country income.

[Dolarin]

I think the government just can't accept that there's something more powerful than them. The government is afraid of losing economic power.

[SergeyS]

Well, I think it's simple. The government does not want to take a digital economy because they are simply not profitable, so we are able to manage their money. After all, it turns out complete financial independence.

[jjeeppeerrxx]

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 they can't control cryptocurrencies, however, the agencies that regulate financial transactions such as SEC has its own requirements to regulate cryptocurrencies and if cryptocurrency developers will not comply their requirements they don't regulate them. The reason is that it is decentralized, that is why the government doesn't like cryptocurrencies. I have also questioned myself when will be the time these cryptocurrencies be united with the government and is it possible?

[doctordidi]

why does the government not like krypto if the government happens to legalize crypto most likely there are no people who work in real life, such as working in offices, factories, farmers, and many more, most likely switching dicrypto, because why crypto can be done anytime and anywhere, other than the government also has the view that crypto is very risky,

[AbiusGMIU]

a normal person can't understand what government like or does not like. governments are sneaky, liar and powerful. they want you think that's all.

[xuv500]

why does the government not like krypto if the government happens to legalize crypto most likely there are no people who work in real life, such as working in offices, factories, farmers, and many more, most likely switching dicrypto, because why crypto can be done anytime and anywhere, other than the government also has the view that crypto is very risky,

The main reason is it is a decentralised coin it is not much easy to make it legal. Yes you need to take the responsibility of ups and downs in the market. But believe me crypocurrency is a wonderful technology for blockchain.

[BitindaHouse]

It's clear as a white day, a lot of money will go to the market that they are not in control and they are afraid to lose a big chunk of money which at least as something they can track !!!