Why Government does not like crypto?

[Okity21]

I do not think that the government does not like cryptocurrency.
It's all about the fact that the cryptocurrency market has not yet been thoroughly studied and unfamiliar things require a time test.
The market will sometime become official, I think.

[nikola22]

everything is simple, understanding that in crypto there passes huge money, didn't invent yet how to control, and to collect taxes.

but governments can establish some rules for using crypto and receive taxes from these huge money flows. it's better than nothing.

[FLHippy]

Because they do not understand it, but as soon as they find out that cryptocurrencies are more transparent and it will help to collect taxes from people they will adopt cryptocurrencies. 

[moshuk]

why should they support or love what they cannot control? Although control is needed, because so many people have deceived investors with impunity that this is not normal.

[daarul50]

The main reason why the government dislikes crypto is because they cannot supervise the circulation or transactions of crypto so they feel that crypto is a big threat to the country's financial system.

[CTRLX]

For the governments, cryptocurrencies  is an area they cannot control, it is normal for them not to like cryptocurrencies. Fiat money and traditional markets have been recognized worldwide, have a common arrangement. The main job of governments is to manage the country's economy. About crypto they have to define their legal boundaries, regulate taxes. 

[Bitfling]

Because crypto holders do not pay taxes and this harms the governments budget. I think that in the nearest future, government would accept crypto currencies but they would regulate them and get their taxes for sure.

In many country, crypto investor paying taxes from their trading and i think they paying taxes. Its not about taxes or privacy, i think its because banks wont lose control on money supply. Government againts crypto perhaps government afraid it will use for criminal activity like money laundering

[covfefe_]

The problem with crypto is its p2p nature and the hassle on finding where it came from and where it ended. Inter country transfer are often taxed by the receiving country while an anonymous p2p inter country transfer may never been found in case of crypto transfer.
So, it all ends up being not able to tax the money and service bought and sold by it, illegal transfer of money and funding of terrorism.

[hotimbineh]

The problem with crypto is its p2p nature and the hassle on finding where it came from and where it ended. Inter country transfer are often taxed by the receiving country while an anonymous p2p inter country transfer may never been found in case of crypto transfer.
So, it all ends up being not able to tax the money and service bought and sold by it, illegal transfer of money and funding of terrorism.

I do not think that is the reason and until now terrorism and funding and money laundering have not been disclosed by the government and banks, not because of the workings of digital money transfers that do not know where they come from and where they end up. already completed. Another reason might be because many countries do not legalize crypto because they are not ready and still see the influence of gaps in economic growth and security for the government and its institutions, and developed countries that have legalized them.

[sodiik]

Of course there is a reason why the government does not like cryptocurrency, and we have to understand what is the reason, indeed for now cryptocurrency cannot be accepted in all countries but I am sure that along with the development of crypto time it will be accepted in the world by the benefits it provides

[BlackPanda]

The problem with crypto is its p2p nature and the hassle on finding where it came from and where it ended. Inter country transfer are often taxed by the receiving country while an anonymous p2p inter country transfer may never been found in case of crypto transfer.
So, it all ends up being not able to tax the money and service bought and sold by it, illegal transfer of money and funding of terrorism.

Can you confirm this? I am sure that many countries cannot take tax against people who have crypto. Crypto assets are anonymous so that everyone can hide their wealth. This is real and some people think of making financial transactions using crypto to avoid taxes. One way to avoid this is to immediately do regulation because regulation is the only way that can be used to reduce the risk of using Crypto.

[Lumi3004]

A cryptocurrency that is one of the most competitive digital currencies in the crypto world, it's natural for the government to worry about crypto, about finance, money laundering, etc.
However, not all countries prohibit crypto precisely the advanced countries that have prioritized crypto as one of the most profitable assets for a particular country. Well, I think crypto is good or bad depending on how the government thinks itself for the progress of its people.

[rika0223]

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.

many countries always regard crypto currency as a negative innovation and only consider it for personal gain and many have to prohibit crypto currency to be accessed maybe if the government adopts a crypto currency economy system of course economic development will develop and progress rapidly

[nur rochid]

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.

many countries always regard crypto currency as a negative innovation and only consider it for personal gain and many have to prohibit crypto currency to be accessed maybe if the government adopts a crypto currency economy system of course economic development will develop and progress rapidly

on the other hand, we do not know who the true creator of bitcoin is, so that it allows a particular country to develop it, of course it will ultimately benefit the country. moreover bitcoin has a limited supply, so it will be easier to control it for that country

[cchub]

The opposite also happens: crypto does not like governments. This statement can go either way.

[yakushev]

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.

many countries always regard crypto currency as a negative innovation and only consider it for personal gain and many have to prohibit crypto currency to be accessed maybe if the government adopts a crypto currency economy system of course economic development will develop and progress rapidly

First of all, any government tries to protect itself from the loss of funds, and a lot of taxes are lost because of the crypto currency, although some developed countries have found how to interact with the crypto currency to their advantage

[Strotman]

The main reasons cited by the governments of those countries that banned cryptocurrencies are: the turnover of funds received from the sale of drugs, weapons, etc. But I think the main reason is that governments can not control the decentralization that cryptocurrencies bring to us, and therefore try to ban them.

[CleverOracle]

The government does not totally dislike crypto but due to its unregulated nature some countries don't want to take the risk to accept crypto as a way of payment. government are just playing safe because they don't want to mislead their people.

[Bim abk]

The government does not totally dislike crypto but due to its unregulated nature some countries don't want to take the risk to accept crypto as a way of payment. government are just playing safe because they don't want to mislead their people.

in that view means that a country has not yet conducted a special study of crypto. every thing that happens must have two good and bad sides so that the government must be in that matter to find the best way because in my opinion crypto has a beneficial potential for many who want to understand

[donass1]

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 is a threat to Dollar which is the global accepted currency for trade and the general economics of governments. Also government believes it empowers all and sundry and making them loose control over wealth and funds transfer.