Why Government does not like crypto?

[Renampun]

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?

money laundering, fake investments, and terrorist funding, this is feared by governments around the world and has been announced on the news... without Bitcoin, even this kind of crime continues to exist, so in my opinion, their reasons don't make sense.

[Jocuserious]

This is an very common reason and they think that cryptocurrency can prevent an organism their business planning. The government raises an issue the cryptocurrency is just a way of making people money but it is not for the government of that country. But I think it is straightforward to use it in all cases in a proper way.

[deredevil]

There is a reason why the government does not like the existence of cryptocurrency, and every government must have different reasons, whatever we have to respect the attitude of the government, and I believe that with the development of the future, cryptocurrency can be accepted worldwide because of the benefits give it to you

[Quantum907]

Many things from cyrpto which are contrary to the principle of the state, namely centralization, the state must be afraid if crypto is legalized and the state cannot fully control it so it is easily controlled by the owners of capital.

[Broly46]

More and more people are moving to crypto which is very unhealthy to them. Which make less and less people want to work for the government issued money, imagine a full generation of youth decide to do nothing and earn crypto, the entire government system will halt to work, school, hospital, bank, all would be gone because no youths want to be part of it. Gov feel the threat and want to stop it.

[salink]

The government will not benefit from crypto. All fees, taxes, and transaction tracking will be ignored by the government and cannot be controlled. It breaks down the current economic and economic rules. If the government agrees to legalize crypto, it is a threat to the banking industry.

[PlusOne88]

There might be some resistance to cryptocurrency but in time people will see its potential in this modern world. It is not absolutely true to say that the government really hate cryptocurrency because there are nations that accepted it. Some government blocks its usage due feared effects on the economy and possible evasion on taxes but these can be solved with the government placing control or regulations on local exchanges so that there is nothing to be afraid of actually.

[SinLinJim]

The government will not benefit from crypto. All fees, taxes, and transaction tracking will be ignored by the government and cannot be controlled. It breaks down the current economic and economic rules. If the government agrees to legalize crypto, it is a threat to the banking industry.

It is even difficult to imagine how much money is laundered with the help of cryptocurrency and the government can not affect it, there is no tax revenue, and no one will voluntarily pay them

[Rtalk]

I agree that many developing countries have enough problems with the economy without cryptocurrencies.It is necessary that all States develop common and transparent rules for the turnover of cryptocurrencies.I think it will be not only good for cryptocurrency holders, but also for the budget of each country.

[kidoseagle0312]

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?

In the first place Government was centralized based system and while cryptocurrency was decentralized based system.
Moreover, Crypto is an opportunity to everyone in the world now dude, opportunity for the individuals, companies, or organization and merchants
in the entire world.

[chanc3r]

The government will not benefit from crypto. All fees, taxes, and transaction tracking will be ignored by the government and cannot be controlled. It breaks down the current economic and economic rules. If the government agrees to legalize crypto, it is a threat to the banking industry.

It is even difficult to imagine how much money is laundered with the help of cryptocurrency and the government can not affect it, there is no tax revenue, and no one will voluntarily pay them

Although there's possibility of that, but the same thing goes to the cash money you currently use right now, even it is untraceable unlike blockchain that leaves a trace in form of txid. Cash money in the other hand is really untraceable, it is just a piece of paper that everyone can hand over to one after another. That's why drug dealers also frequently caught using cash for transaction.

[ivanserfg]

The government will not benefit from crypto. All fees, taxes, and transaction tracking will be ignored by the government and cannot be controlled. It breaks down the current economic and economic rules. If the government agrees to legalize crypto, it is a threat to the banking industry.

It is even difficult to imagine how much money is laundered with the help of cryptocurrency and the government can not affect it, there is no tax revenue, and no one will voluntarily pay them

Although there's possibility of that, but the same thing goes to the cash money you currently use right now, even it is untraceable unlike blockchain that leaves a trace in form of txid. Cash money in the other hand is really untraceable, it is just a piece of paper that everyone can hand over to one after another. That's why drug dealers also frequently caught using cash for transaction.

I also cannot understand why it is precisely cryptocurrency that is attributed to all these money laundering. On the contrary, everything is visible in the cryptocurrency and everything leaves a mark, since it is recorded in the blockchain on thousands of computers, and it is impossible to clean it up

[vixcious]

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 think they don't want trouble in their country. Because the crypto market can be traded anywhere in the country and that makes the money deficit and governments will not be able to accurately calculate the amount of money in a year. that will cause inaccuracies in policy making.

[Wong Gendheng]

I think crypto is a national economic threat, a decentralized and anonymous system is something that can be used to commit financial crimes such as money laundry, avoiding taxes and so on, the state certainly hopes that all transaction systems can be controlled.

[zidanw]

Actually the government is more careful in making decisions because indeed the cryptocurrency itself is also a very risky investment category and they do not want to make the wrong decision making

[mbluxs]

Before my government banned it, but now it has changed when they have done an assessment of bitcoin which is in the category of commodities that can be traded. in fact many countries are conducting studies to make rules about cryptocurrency

[spike420211]

Any state needs taxes in the first place, and the more taxpayers, the easier it is for the state to build a budget for the future and close problematic issues, everything related to cryptocurrency does not go to the tax treasury, as a result of statehood they lose part of their profits.

[Insomnia family]

I think the main reason they don't like cryptoqurency is because they have a high risk and cryptoqurency is also anonymous, besides there is a lot of negative news about illegal transactions using crypto and this is also one reason why they don't like crypto. but in some countries it has begun to accept the presence of this cryptoqurency world.

[VIP BTC]

The state's fear of cryptocurrency really makes sense, as we know that crypto is a new currency that can change the world, especially in managing a country's finances, so the country is afraid to adopt cryptocurrency because Cryptocurrency can eliminate the value of a currency issued if a country cannot be resolved by crypto in the technology market.

[Pattart]

The government will not benefit from crypto. All fees, taxes, and transaction tracking will be ignored by the government and cannot be controlled. It breaks down the current economic and economic rules. If the government agrees to legalize crypto, it is a threat to the banking industry.

It is even difficult to imagine how much money is laundered with the help of cryptocurrency and the government can not affect it, there is no tax revenue, and no one will voluntarily pay them

Don't blame crypto, before crypto was there though there are many modes of money laundering, moreover there are banks in Switzerland that are well known for maintaining the privacy of their customers. the government doesn't like crypto only because they don't have control