Many Countries Government trying to stop bitcoin, what reason .......

[paulk11087]

The reason why countries oppose the technology of bitcoin or blockchain is quite clear. They have always been cautious about the formations that governments cannot control. They will continue to act.

[babysweetTiger0401]

anyone know what reason  stoping bitcoin many countries,,,,,,,,,,what reason ?

One of the main reason why some or most of the country are trying to stop it, probably, because of of its unique features which bitcoin has and its decentralization of course, were each government of the country has no capability to control over it, due to it is unregulated business industry in my opinion on this matter anyway.

[den50]

anyone know what reason  stoping bitcoin many countries,,,,,,,,,,what reason ?

This has been tackled for how many times,but still the answer is not clear because every counthas their own reason in each issues.

But for me the main reason is being afraid for the effect crypto might bring to themnd their economy,lots of scams and illegal issues thrown to crypto community so this maybe the main reason for than

Another reason is.... their own currencies aren't stable and they can barely control them.

[hxtop]

The first reason for that they don't want to lose their authority to issue money on the market. Issuing money is the most profitable business on the world. You take some paper and materials and you convert them into something valuable. If number of currencies on the market is increrased and some of newcomers like bitcoin get more attention, their currencies are not preferred on the market and it will cause a drop on the value of theirs.

[oktana]

The first reason for that they don't want to lose their authority to issue money on the market. Issuing money is the most profitable business on the world. You take some paper and materials and you convert them into something valuable. If number of currencies on the market is increrased and some of newcomers like bitcoin get more attention, their currencies are not preferred on the market and it will cause a drop on the value of theirs.

they are concerned that the circulation of money outside their monitoring will cause massive inflation, but actually this can be handled appropriately if the government is able to make very clear regulations.

The most sensitive is that until now they were unable to make it. So it's clear that their fears are getting stronger because bitcoin is growing rapidly in their country.

[FastSlots]

Bitcoin is a digital currency and no governments can't track the transactions identity perfectly! Besides this, bitcoin is totally tax-free so they think bitcoin is not helpful for the country! Especially, many countries in Asia have banned bitcoin, otherwise, most of the countries are endorsing bitcoin!

[wendiar19]

for now there are not too many because some governments in various countries have started to see bitcoin and the technology that is owned by bitcoin so I am sure for sure someday all countries and their governments will receive bitcoin payments and circulation.

[apilpirman.bisnis]

Many country have stop and banned bitcoin as transaction and investing, they have doing it because many their people have lost much money with buying at higher price and bitcoin really at lower price now.

[MidKnight]

They want it to be highly regualated. Bitcoin always getting associated with money laundering by non-supporters and it really happens so that issue is like the tall wall that keeps other countries to reach bitcoin to make adoption happen.

[enogheghase123]

We all know that government rely on tax to execute most of it's electoral campaigns, now with bitcoin transactions where anonymity is the order of the day, the government is unable to generate revenue through taxes, because bitcoin transactions are not traceable. If this kind of transactions becomes generally adopted, this will mean that tax will be abolish. That's why the government is trying to stop bitcoin or bring it under it's regulations.