Why Government does not like crypto?

[jikurpa]

I think there are many reasons why the government has banned crypto currency, perhaps one of them is the government is afraid to happen as a place for money laundering and maybe there are many other reasons

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[TrevorS]

Government of any country directs its activities to control people through control of cash flow. All people depend on their work, without work, the survival of a person in society becomes questionable. Cryptocurrency allows you to get out of this control, and obviously the government does not like it.

[ElenaN]

I'm not sure that governments don't like bitcoin, on the contrary, many States think through how to apply and get with it!

[levvv]

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 cannot know who is the owner of cryptocurrency unless the owner report to them.
Many peoples involved in cryptocurrency indeed, but the more peoples involved, the more difficult to be regulated by government.
I think some countries ban crypto because they think cryptocurrency is illegal to use.

[Sissebrahima]

The governments of many countries are corrupt and their members need to set up schemes for financial manipulation for their bad purposes. Cryptography is not suitable for them, since all transactions are transparent and can be seen.

[shulc7]

I will say government never want anything that can't be control by them to exist , especially when it comes to money making and freedom from tax and all laws that has to do in favour of their cabinet, and this are some reason they will never want to comply with crypto as it is decentralized and can't be control by them and also it has create freedom to so many people and making people to be rich with no hustle or has to go through a process laid down by government but some see government see crypto as a way of new life and are embracing it why some are still thinking which step to take .

Cryptocurrencies are undercutting the monopoly of governments to provide monetary policy. This is unlikely to please for example the President or the leadership of central banks. However at the same time the government is trying to keep cryptocurrencies in sight and under control.

[adamreb]

I believe that while many governments will not support cryptocurrency. After all, they simply do not have the ability to control and manage transactions, set taxes on the activities of participants in the crypto market. But I am sure that in the future many governments will be able to see the benefits and the huge potential of cryptocurrencies.

[Spaffin]

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 governments not only do not need a cryptocurrency, it seriously interferes with its work. First of all, no government can control the decentralized cryptocurrency. It seeks to control our whole life, and here there are things that are not controlled, all the more related to finances. Cryptocurrency violates the normal operation of banks and the state’s economy in general. This was clearly stated by the Chinese government and this is one of the main reasons why they are hostile to cryptocurrency. I think that these two reasons are enough for governments to treat cryptocurrency not quite well.

[ipsec]

The government does not want to give a big stake to its economy to unknown people. But the government does not deny the use of blockchain in the economy. So many banks have already switched to their tokens without the help of which it is impossible to use a mobile Bank.

[rahul7timt]

because people will have the control over their money and they do no need bank or any govt organisation to transfer or control their money. also govt believe if any fraud occur orut the value comes down they will not able to control it. i think if govt does not want to support that is ok but they should not make it illegal.

[luthvie]

because they say the government cant take control of digital asset itself, and for now the digital asset hasnt have any law for rule it.

[Fesatmas]

Most governments in every country want to adopt bitcoin in a way they can fully control cryptocurrency. Cryptcurrency can stand alone well why should the government be involved, cryptocurrency will be worse if the government intervenes.

[fileo]

Never ever government wants things that they doesn't know when should it be stable. Unstable matters is headache to government because they cannot solve the issue due to constant shifting of trend at any moment. In addition they don't like the decentralized concept of crypto. Government wants to regulate everything that they can to be under their authority. Unfixed mindset won't give them security to offer to every country's citizens as long as they can.

[Dobby070]

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 guess they just envy it. They cannot easily accept the fact that banks will going to be somehow partially replaced by cryptocurrency. But when time comes that they can now add some tax to transactions, maybe they can accept the crypto and utilize it as well.

[shooleh]

Many factors make the government not provide regulations regarding the use of crypto coins. This problem has been a long time since Crypto coins became more popular and could make many people rich. But I am sure that in the future this government will work with Crypto to create better economic change.

[cudora]

Why should they like them? The whole government system is centralised and they are making tons of cash using this system. Crypto currencies are offering another way, that excludes the third party and increases the anonymity.

[Pontorez]

In fact, good cryptocurrency can be a very useful and promising financial tool for the global economy, the activities of different states and financial organizations. But there is still a long time to wait for governments to see the benefits of cryptocurrency.

[Clearstream]

the government is the product of the centralization of power. the spirit of encryption is decentralized. there is a contradiction between the two. in most countries, currency is issued by the government. Encryption will replace fiat money. it touched the government's cheese.

[fistteam]

The government does not like crypto because it is difficult to control. Investors here like anonymity and the government doesn't like this. The quick payment, no need for roses is the government's concern. And I think the government is not ready to accept crypto.

[cryp24x]

The main reason why the government does not like crypto is that for them crypto can be used in any criminal activities like money laundering and the like. But it is also believed the reason behind this, is that cryptocurrency does not generate taxes because it is unregulated.