Why Government does not like crypto?

[Ngewex Yuk]

Because the state does not benefit from crypto, it is the country that loses if crypto is legalized, everyone will easily hide their money to avoid taxes and are vulnerable to being used for illegal transactions such as drugs, weapons and so on.

[Abiky]

Many government agencies do not like cryptocurrency. I think they are just afraid of losing control of people. But I think the government will be able to adopt blockchain technology someday.

That's certainly true, mate. I believe that the main fear of governments with crypto, is that it allows criminal actors to easily launder money. Not to mention, it gives the power back to the people eliminating the middleman in the process. Of course, governments have found out how beneficial crypto is for their economy, as they've been taxing it over time.

However, they're still reluctant into fully accepting crypto as an alternative medium of exchange because of the many benefits it provides to people in the mainstream world. Eventually, as people become more accustomed to decentralized money, governments would have no choice but to join them. But I believe that this is a process that will take quite some time before becoming a reality.

Hence, the government will continue to dislike crypto within their early days. Just my thoughts

[uszaty43]

One of the main reasons why governments don't like to approve the use of cryptocurrencies in their countries is that in the first place they would lose revenue in the form of taxes and also all the high fees that are charged when people send monies through the Central Banks. Some governments also don't have much knowledge about the blockchain technology and the use of cryptocurrencies and only regard it as a bubble as it has commonly been referred to by several other people. I am sure if they are really briefed about cryptocurrencies such governments would have a change of mind.

[agusiska]

because they cant do full control for blockchain technology itself, so they affraid of that, and besides many people got cheated in crypto investment, so that all the reason government doesnt like crypto.

[trudovik]

There is nothing wrong with that. The state may not like some aspects, but all this is moving forward and today we must look ahead just like others and are not afraid of danger. Overthrow the government sectors to reconsider their attitude towards this.

[JefLiber]

because they cant do full control for blockchain technology itself, so they affraid of that, and besides many people got cheated in crypto investment, so that all the reason government doesnt like crypto.

The government can control the entire cash flow going through the banks, legal and illegal, but in the cryptocurrency they have no power, therefore they can not afford to legalize it, thereby creating a lot of problems

[imsotiredofmoviereboots]

Only for now or in its earlier stage or system but I know that eventually they embrace it. Of course, there are part they like on the technology but there are most parts that they don't like. Maybe the facebook coin is going to be the one that will suit their taste so we'll see. Google and Samsung are also with us so the government also has not choice but to join us.

[zulfi125]

As you know little countries are supporting crypto but most of countries are not supporting because they don't know crypto benefits and i hope in this December 2019 various counties will legal BTC.

[ariyzt]

government can't identity the person behind wallet or asset
with that anonymously is realy risk for them . cryptocurrency can be use to some ilegal bad thing like terorize or drug and etc

[airdropan]

the value of cryptocurrency that not stable make goverment can't control it
also many case on internet said crypto used as payment for drug or another evil and ilegal criminal

[arwani1985]

The risk of investing in cryptocurrency is quite large and in my opinion the government does not want to be too hasty in making decisions so that they continue to conduct studies in advance so as not to cause harm to the community

[madfox11]

The lack of total control in the cryptocurrency market is the main reason. I think, clerks understand the true value of crypto world. Cryptocurrency is, above all, freedom, so the government cannot allow the free movement of capital.

[HatakeKakashi]

They did not manipulate and control the crypto so that's they banned bitcoin or crypto to their country. We know some of the government official are greedy to the money so they will not get big taxes to the crypto so they banned crypto even they are helpful to all people.
It's not fair because they did do a lot of search and investigate if they really need to banned cryptp or not. But Im happy to those countey who accepting bitcoin.

[Falgorn]

government can't identity the person behind wallet or asset
with that anonymously is realy risk for them . cryptocurrency can be use to some ilegal bad thing like terorize or drug and etc

most current coins and tokens are only relatively anonymous. It is practically impossible to establish the owner of only truly anonymous coins such as monero, zcach. dash however, governments do not like the fact that they do not have complete control over the cash flows of their citizens, especially the negative influence in this regard is that citizens can use their cryptocurrency to withdraw their funds outside the state. for this reason, the Chinese government still imposes its own restrictions on cryptocurrency users.

[installer]

Because the main goal of crypto currencies is the anonymity and if they would get mass adopted I hardly doubt that we would be able to avoid some kind of regulations from governments. However governments do not like crypto, because they cannot fully control it.

[Huskerz1]

Control.  From the cradle to the grave. 

[GatotKaca]

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?

there are so many reasons that the government does not like crypto, one of which is because crypto is considered an illegal and dangerous digital currency. dangerous because we do not know the identity and are very confidential also difficult to trace.

[spike420211]

Now in cryptocurrency highest people are involved and related to doing something like buying, trading and mining. Government always try to take control all of money in country but behinds cryptocurrency government has no control and also don't get any kinds of taxes.

That's right, this is the primary problem of the state, to receive taxes. The second problem is that the ICO market is full of fraudsters and fraudulent schemes, and where do ordinary people turn as a result of deception? That's right, to the state, forcing it to invent new forms of regulation.

[RockDJ]

Cryptocurency is seen as a threat to centralized bodies because it has the potentials to disrupt the multiple trillion dollar market. They will governing power and control over the large populace of the world who will grow richer with the incident

[digitalblock]

"Everyone wants to earn money from cryptocurrency" - that's why. It is the problem. Too much uncontrolled money.