Why Government does not like crypto?

[snakey]

Control.  From the cradle to the grave. 

Control, yeah you are right in  this, one more things the power of taxation, fiat cannot be hidden from tax but crypto can be.

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[truongdhnh]

Virtually governments do not like crypto in my opinion that the government may not be able to control the amount of money in the country so the government cannot regulate the economy and cause the country to be unstable and sustainable. The more the bank grows, the more weaknesses it is, such as slow transactions, cost of human resources and strength, while crypto does well in the face and costs are low, so the government doesn't like it.

[nizar93]

Control.  From the cradle to the grave. 

Control, yeah you are right in  this, one more things the power of taxation, fiat cannot be hidden from tax but crypto can be.

when the crypto regulation was formed I thought that tax determination could be done. we cannot rule out the possibility that the crypto future belongs to the world. the government will realize that, because everything develops and they will surely follow this development.

[bountylayomi]

The reason why the government of many nations do not want to be in support of cryptocurrency is very simple. It is because of they know that there will be massive reduction in tax payments by the time the people in the country are engaging in blockchain transactions.

[SinLinJim]

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

If the government had a real opportunity to control the cryptocurrency, they would have done it long ago and given it the green light, but as we see they still scold it and are afraid, and therefore did not come up with how to control it

[Rtalk]

It is a matter of time to control the cryptocurrency.Because now too much attention is focused on it from the regulatory authorities.
As for the threat to the huge multi-billion dollar money market-I do not think that the cryptocurrency can now pose any threat to it.

[Polar91]

The reason why the government of many nations do not want to be in support of cryptocurrency is very simple. It is because of they know that there will be massive reduction in tax payments by the time the people in the country are engaging in blockchain transactions.

It's not that ahout tax payments since they can still add tax if you encash or withdraw in cryptocurrency. The main reason is that they can't control it. Unlike in fiat, if there is shadiness in activity of an account owner, they can freeze it immediately. However in cryptocurrency, all they can do is to only monitor where does the money of an account owener goes.

[yodann]

i don't quite agree. Singapore for example is preparing to make digital currency of their own to boost their economy. It's just not the right time at the moment to adopt digital currency. this technology needs to go more mature before finally this will become official.. and these coins will benefit from it.

[Dilladupak]

I think one day the government will also recognize crypto currencies, but for me it still requires a long process, because krypto is now very well known and also helps our economy a lot.

[kristensoto]

i dont think so, crypto is a very potential way to bring more profit to the country and there is no reason they should refuse that, but because to the bad disadvantages of cryptos like scammers and uncontrolled by any goverments, so that is why goverments ban cryptos, but i believe if these problems can be fixed we will soon see goverments accept cryptos.

[awik p]

i dont think so, crypto is a very potential way to bring more profit to the country and there is no reason they should refuse that, but because to the bad disadvantages of cryptos like scammers and uncontrolled by any goverments, so that is why goverments ban cryptos, but i believe if these problems can be fixed we will soon see goverments accept cryptos.

I agree, maybe at this time the transferor still had many obstacles to legalize it, and had not found the policy that would be taken, so it seemed to reject it. with the development of the time certainly must follow it, if you want to become a developed country

[LUCKMCFLY]

Governments have always been against for the simple reason that they can not control technology, and it is a deflationary economy, any government in the world can and is susceptible to falling into inflation problems, with crypto no, it is also a way that people can handle large amounts of money without the government having to intervene to investigate the origin of the fodos, it is a totally free economy that is beyond the control of any government in the world.

[Pattart]

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

No more than through banks Much less money is actually laundered through cryptocurrencies.

both of them share that, I don't think bank jealous is because of that. banks don't like bitcoin because it is decentralized and it is very different from the bank system, and of course there is chance to reduce the bank's users.

[Rtalk]

Banks and governments don't like anything that doesn't go through their censorship and control.
Now cryptocurrency is not so much a direct threat to public money -how much uncontrolled movement of surrogate money (as they were expressed).
Whatever the idea behind cryptocurrencies-decentralization,freedom from excessive fees - governments will not allow cryptocurrency to "breathe".

[shesheboy]

i dont think so, crypto is a very potential way to bring more profit to the country and there is no reason they should refuse that,

not only profit but good service as well , thats the reason why most of them are now accepting and legalizing the use of cryptos  .

but because to the bad disadvantages of cryptos like scammers and uncontrolled by any goverments, so that is why goverments ban cryptos, but i believe if these problems can be fixed we will soon see goverments accept cryptos.

cryptos cant be directly controlled but as i mentioned earlier  , most governments/countries are still accepting the use of it while some see's that as a reason on why they ban cryptos  .  scamming or scamers isnt  also the problem of crypto because its already been there ever since the internet came out  . those problems wont be fixed but i believed that they can soon change thier minds or else they will get left behind  .

[Jericka D Ranillo]

In some view, crypto is not a good currency for government since they are providing our fiat money according to our economic GDP. So crypto might kill the use of money for different kind of big transaction so taxes will lesser than the expected. Government afraid about, but in some view it could help government by giving income for the people cant do a job out there.

[criket]

In some view, crypto is not a good currency for government since they are providing our fiat money according to our economic GDP. So crypto might kill the use of money for different kind of big transaction so taxes will lesser than the expected. Government afraid about, but in some view it could help government by giving income for the people cant do a job out there.

crypto won't kill but crypto is an alternative to future money. money is always developing, and there is a time when crypto will be the currency used by all the world, with regulations and of course. Crypto's future should be like that, not just as an investment asset.

[Metall303]

In some view, crypto is not a good currency for government since they are providing our fiat money according to our economic GDP. So crypto might kill the use of money for different kind of big transaction so taxes will lesser than the expected. Government afraid about, but in some view it could help government by giving income for the people cant do a job out there.

after the advent of cryptocurrency and blockchain - many government workers and government structures are endangered, but I think that if they have to disappear, it will happen. all that is not really necessary will disappear. All that was created for money laundering - will die

[Ebenezer559]

I think why most of the government of the countries of the world do not like Cryptocurrency is that most of the politicians do not have basic knowledge and principles of altcoins. They didn't understand that most of the economic problems most countries are facing today can be solved by adopting crypto as a means of payment

[JCviggen]

I think why most of the government of the countries of the world do not like Cryptocurrency is that most of the politicians do not have basic knowledge and principles of altcoins. They didn't understand that most of the economic problems most countries are facing today can be solved by adopting crypto as a means of payment

I think that governments are not determined to solve economic problems. during the economic crisis - those people who are at the head - they have the opportunity to make good money