Why Government does not like crypto?

[forexandcryptoauditor]

There are few valid reasons why government doesn't like cryptocurrencies.
Since there are no regulations set up and thus no governance on cryptocurrencies trading, it is very difficult for government to keep track of investments from the country.
Every government wants some amount as per taxes applicable from the trading transactions which can increase overall revenue.
Due to not having regulations, government can not set up tax system on such transactions.
And the most important thing is due to not having any governance on trading of cryptocurrencies, there are mostly chances of money laundering, which is not in favor of any of the governments.

[norachuks]

They are scared because they can not control it and if cryptocurrency should be the world currency they will be powerless

[malekbaba]

Government wants you to keep your money in banks cause bank will be able to lend out more money and this will raise GDP of that nation. If all of you keep your money at home as gold or crypto, GDP of the country and all ponzi scheme of that nation/country may collapse over night. And if government support BTC, they will loose control upon citizen's asset and cant trace all the TX. Any government is scared of Anonymity and volatility.
But Russia, Japan and some other European countries are getting ready for massive crypto adoption. So, government does not like BTC, is not entirely True

[travwill]

It is in ignorance, in state administrations, as a rule, elders sit, they are not as familiar with new technologies as we would like, and there is no question of introducing it at all.

[ifykiki]

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's obvious, cryptocurrency breaks the centralized system and gives the rights of holding money to the people. One can easily get loans and pay back without much issues unlike with the banks and their long process. As long as there is cryptocurrency and that most aspects of it believes in decentralization, the government will always have issues

[CapnBDL]

Because the government needs to control cash flow. And here it turns out uncontrolled access, through which fraudsters can safely do whatever they want and deceive the whole world. Is it normal?

[Denreal]

I do not expect government to like cryptocurrency, because the do not have cobtrol over it.
The decentralized nature of cryptocurrency has really been a challenge, not only to the government, but some other bodies or organization, who wished to continue to be in control and be able to determine the fate of people through their authorities

[PoS]

I do not expect government to like cryptocurrency, because the do not have cobtrol over it.
The decentralized nature of cryptocurrency has really been a challenge, not only to the government, but some other bodies or organization, who wished to continue to be in control and be able to determine the fate of people through their authorities

You are a long way behind lots of governments are developing digital-currency and decentralization went out the window years ago.

[Starfranko]

Why would government like crypto-currencies when crypto-currencies deny government the control and meddledoneness they enjoy so much

[bountylayomi]

Governments of many nations do not like cryptocurrency at all that some of them even banned it in the country just like you said. The reason for this is simple and it is because no tax is going to them from the source of cryptocurrency transactions.

[AristoteI]

It seems to me that this is yet another misconception that the cryptocurrency is rich in the world. In fact, any government is very interested in controlling its people as effectively as possible, and cryptocurrency will allow this to happen because they are based on the blockchain.

[frost_wind]

Why did you decide that governments do not like crypto ? It seems to me that they have nothing against new technologies, all they want is just to find a way to tax this business and all those involved in it. When they achieve this, good times will come again to crypto.

[nikola22]

the main aim of the government is to control everything. but with crypto they can't do it so that's why they don't like it.

[smithelemuo]

The Government always wants to be in control, printing money and trickling it down. But bitcoin does not give them the opportunity to do this, hence they make it difficult for crypto startups to survive

[lobo13hf]

the main aim of the government is to control everything. but with crypto they can't do it so that's why they don't like it.

Because they wanna protect their investors from the scammers. there were a bunch of scammers in these days. The government are thinking how much money that can be stolen by these scammers. That's why the government doesn't like crypto. But not all of governments are hating crypto dude

[gaj ahmada]

Most likely, the government authorities simply do not understand what it is and probably people just don’t understand what the blockchain is for and why cryptocurrency is used in general. Therefore, I see the situation as follows.

I don't think so, I'm sure every government understands what a blockchain is and actually many governments are interested in adopting this technology, which is actually prohibited is ICO because they see that many ICOs end in scams so they don't want people to lose money just because of that

[Proc.dev]

In future with decentralized cryptocurrencies people will not need in fiat money created by governments. And governments wants to regulate this because they don't want to loose the leverage on common people

[Sova_tmb]

The government now can't control and regulate crypto, money goes past them and they, at the moment, can't do anything about it. May be in future will be goverment regulate crypto at everyone country.

[dizzy1996]

Very simple question, look, put yourself in the place of an official and think if a new product appears on the financial market and there is no control over it, then there are no taxes and no taxes, then the budget is not replenished, but the main reason is that the cryptocurrency can to completely simplify any financial system of the state, and the government is not profitable and, accordingly, there are many problems associated with the legalization of cryptocurrency.

[CapnBDL]

Very simple question, look, put yourself in the place of an official and think if a new product appears on the financial market and there is no control over it, then there are no taxes and no taxes, then the budget is not replenished, but the main reason is that the cryptocurrency can to completely simplify any financial system of the state, and the government is not profitable and, accordingly, there are many problems associated with the legalization of cryptocurrency.

Of course, the main problem is that they will not be able to fill their pockets the same way as before, but they will have a lot of money in any case. But the most important thing is that control is needed here so that there are no scammers and criminals!