Why Government does not like crypto?

[serejandmyself]

there is an adverb - if you can't stop it, then you have to accept it and be on top of it. Government can take it and be on top of it, why not?

[Cordann]

I believe that many governments do not like the crypto market, because they do not have enough opportunities to control this trend, get a tax and other profits. Although some countries and large financial organizations are increasingly recognizing the benefits of cryptocurrency, so they start working with them.

[Vargum]

The point is not whether the government likes cryptocurrency or not, the fact is that they cannot control it and track the activities of each member of society. Therefore, they introduce bans. More civilized countries take it more easily, without tightening the measures already taken. Sooner or later, all states should come to this and accept cryptocurrency

[hdtqisg]

Most countries restrict or prohibit Bitcoin and altcoin are no appropriate measures to manage. It takes time to change this, with many changes in 2019.

[Robert de Crypto]

bitcoin is present to face the banking system that its founders don't like. this is their initial philosophy. you can imagine, someone in the US bought crypto products from a country that was not wanted. this is tantamount to giving fresh money to a country with no return. of course, it is very dangerous for a country's foreign exchange, even if there are no clear rules about it.

[Jdragon6x6]

The answer is quite simple bitcoin is a big threat for them. Bitcoin contradicts all the standards that the government and banks implies. As we all know government likes to have control on everything and bitcoin is one of those things that is not easy or quite impossible to control. Bitcoin also oppose to the believes of banks making it also a big threat to them.

[dutechman]

Because crypto is a decentralized business/transaction that government has no control or power over.  Most of the policies being made by government on any business or transaction is to favour them by raking huge amount of money in form of tax, excise duties. Government want to control everything, they want to have final say. Because all of these are not possible in crypto because of its decentralized nature, government of different countries are not happy at all and they are looking for every means of having say in crypto transactions.

[xbossJ]

Not having control over somethings can be very frustrating and annoying! I think government feels this way; This is governments major reason for not liking crypto!! Under this reason are many things governments are scared of losing. Viz; Losing the ability to continue to impoverish people through manipulating the economies using banks! Governments are scared of knowing that the fraud pepetrated by the politicians can be spotted easily in a chain, blockchain gives small nations the ability to be their own bosses, bigger governments don't like this idea! Blockchain can make nations under sanctions evade them easily, powerful governments do not like this! the list goes on...

[musharaf]

Governments have their own secret policies for every thing but i find out a point that due to decentralize nature of crypto governments does not like it and many countries have allowed bitcoin and crypto for transactions and they
are bitcoin friendly so may be it will become legal in each country and governments shows some elastic policies.

[lutfi-hasan]

I think the government does not like bitcoin because they are afraid that bitcoin will replace their banknotes, so until now most governments have their own policies, namely forbidding bitcoin to become a legal payment system in my country such government rules. So they can't open the door to legalize bitcoin in my country.

[laiya94]

Since crypto is uncontrollable by one party governs are not gonna accept this thing that much easy. So accepting cryptocurrencies is like they disruptive their power by themselves.

[Obolo]

I think its because they see cryptocurrency to be too volatile. The value of cryptocurrencies are not stable, it keeps changing constantly on daily basis. I think this issue makes government to hate cryptocurrency. However this issue can be change if and only if we in the crypto world have a change in attitude to protect the crypto world.

[changxia]

I think this has a lot to do with policy, because the current cryptocurrency belongs to the financial industry, which means that it will become a system with the economy, and many countries do not need such an economy, because most cryptocurrencies are decentralized.

[Nick Abimanyu]

Because cryptocurrency is a system of currencies without a state and without the authority that governs it. Cryptocurrency's also identified as having various vulnerabilities, so that central banks in various countries which served as monetary authorities as well would ban transactions and trade in virtual currencies.

[Rituvohra01]

Every Government has different policies but according to me due to the decentralized nature the Government does not like crypto.It is unpredictable.But if there is power they need stability but it has not stability.

[jfederkins]

I consider that the main reason is money here because with crypto people have started to invest money here a lot and giants are not pleased with this trend at all.

[fukkkxdfs]

Because crypto makes losses for them in accordance to the investments that are got with crypto. Crypto is a new wae and governments are not ready to get it.

[Holla123]

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?

Governments like control. Crypto at this stage is hard to regulate or control. As soon as it is more obvious, that blockchain offers good options to make sure of raising taxes or the potential for the fight against corruption, the sentiment might change. Some countries will move forward on crypto quicker than others and will show what is possible.

[DikkieD]

For one, most governments feel responsible for the well being of their citizens (here lies the first fault of course).

Then there are governments that mostly consist of wealthy people and most may feel threatened by crypto.

Also, some governments forbid stuff when they are still in the process of setting up rules and a workable frame work for crypto to exist in.

I think governments that really make it illegal have some ulterior motive, not related to the well being of citizens....

[Crypto Lady]

The government does not like cryptocurrency because it cannot control it. I think government bodies do not want to lose power over people.