Why Government does not like crypto?

[btcyoda]

t is difficult for states to control cryptocurrencies. Also, states need to adopt regulatory laws and this is difficult because there are no norms for cryptocurrencies.

maybe it's true that is one of the reasons for the current government and in my opinion at this time the government is still banning crypto currencies just seeing the negative side maybe if you see positive it will be better

The government are looking negative side of the cryptocurrency but people who commented negatively are now considering the blockchain platform for the developments. Maybe now the governments are negative about the cryptocurrency but in the coming surely they will legalising the potential coins.

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[martina14]

As long as the cryptocurrency is not well regulated it will be hard to accept by some country.
Economics of every country is defending more on the currency they are using.
Government collect taxes to people to develop their community and support the transformation to better.
TAX regulation with cryptocurrency is hard to detect and manipulate as long as there are no regulation.

[hongus]

  Perhaps because cryptocurrency is used for illegal transactions? How to hide money from his wife. Take all your property into Bitcoins and that's it. You are a free man. And there is nothing she should not. And withdraw your money in any country in the world. So this is why governments don't like cryptocurrency. Even if they find. That password from your wallets only you.

[Galantin]

Ban form of power. Cryptocurrency is a form of free commerce. Economic zone free of taxes. The state does not receive profits from people who use cryptocurrency. Well, some states just worry about their citizens and do not allow them to engage in projects where they will be deceived. And lose their money.

[Freeesta]

The government can not control the cryptocurrency. Therefore, to legalize cryptocurrency is quite a serious decision. No one knows what will happen to cryptocurrency in the future, so countries are hesitant to accept cryptocurrency as a means of payment.

[nik9990]

because payments are very difficult to track, such payments can be used for a prohibited business

[javainn]

In my country, the issue of crypto is widely assumed if this is currently one of the impacts that will disrupt economic stability in the country. so it is not surprising if the government in many countries prohibits crypto. but I see if this is just a real and unproven speculation.

[sonicwave]

because payments are very difficult to track, such payments can be used for a prohibited business

Money laundering, financing of illegal organizations, bribes, tax evasion and many more things for which the cryptocurrency can be used, of course the government does not like this

[79b79aa8d5047da6d3XX]

Maybe because they can't control it and monitor its actions like a bank. And they are afraid that cryptocurrency can replace banks, it may make them unable to collect taxes

[burky155]

I believe that the goverments has some big fears about the cryptocurrency. I think they still don't know how to act against the cryptos. Even they have still not have taxing sytstem for the cryptocurrency. I think it is connected with banks. Just like the goverments the banks also have big problems with that.

[aioc]

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?

The government is banning that they cannot control and cryptocurrency being a decentralized technology which they cannot control will contradict their policy, but in our current situation worldwide, the governments are now accepting coexistence as long as they can regulate it.

[babarian]

because payments are very difficult to track, such payments can be used for a prohibited business

very difficult to track?
to my knowledge crypto currency transactions are very easy to track. don't always blame crypto currencies. FIAT currencies can also be used to pay for illegal business.

[Sanford]

Big Brother is watching us. And if your finances are decentralized then you cannot be traced. Who would like it? Say nonpayment tax fees) Or even worse.

[deodivine1]

Governments are trying to protect their citizens due to some insecurity in crypto space especially ICO scams. Other reasons why governments place serious restrictions on crypto is because they are protecting FIAT value, they know if widely adopted, local currency value will deplete. Another point to note is that they think criminals might use the umbrella of crypto to canvas their plots since its decentralized, especially with privacy coins.

[arifteguhr]

maybe with crypto it will not use their currency so that many governments don't have crypto like in my country, even though the existence of crypto paper currency will certainly be used up to whenever

[centhiniz]

It needs some time i think.Cryptocurrencies are still at the developing stages.i think year 2018 is maturing year for all cryptocurrencies along with block chain tech.

right in 2018 it was a bad year for the crypto world because all coin prices simultaneously experienced price declines and a messy market to date has made many people worry about the future of crypto whether it will be as often as discussed or will fall back this year, I also felt a loss in 2018 because I sold some coins at a cheap price.

[Correlll]

Because the idea of anonymity is pretty harmful for governments. I believe that they will be forced to accept crypto currencies as they get mass adopted and I have doubts that such currencies as Monero will still survive.

[jan.nicolas]

Probably today there are a very large number of situations in which many people simply do not want to show their savings, but it would be better to say that they do not want transparency today. It is a fact.

[dulinivanrus]

Not all governments of the world do not like cryptocurrency. There are many countries that support it. I think in any case, the cryptocurrency will be used on a par with fiat money as it can not be controlled because of anonymity.

[mv1986]

Governments have many reasons to dislike crypto. High ranked officials are often relatively rich and have assets in companies that are now threatened by crypto.