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

[Goldleader]

Traditionally government can monitor all the financial transaction if you are using Fiat .Now with Bitcoin you can suddenly received huge amount of Bitcoin in and out without government monitoring you unless you convert to cash using exchange .Now they trying to create some law to monitor and forcing exchange to do KYC

[zoeylee]

I think it is for the reason that government cannot control over bitcoin because of decentralization.

[KingScorpio]

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

purrus combat

[ansarose1]

I know one thing just for sure, to be able to stop terorrists using bitcoin for buying illegal things. And i also think that bitcoin can also do transactions for buying drugs, its also a reason. And some of the government not legalizing bitcoin because it can be use as money laundering. All of these has possibillities so that is why government trying to stop bitcoin.

[wewe123]

Many countries government are trying to stop bitcoin because , if bitcoin will be legalized in every countries it should be confirm to all people in the cummunity and the governmebt would like to regulate the movements and activities of crypto, so that if their is complain about bicoin ,the govetnment  can trace the problem

[Pattart]

Since BTC has shown a fluctuation at high rate and they can't control, they would try to protect theirselves and their citizens. I think it is understandable and acceptable when you loook from their sides.

The government just didn't want to lose the profits from taxes because of the decentralization of crypto, only their alibis banned bitcoin for reasons of protection to their communities, even though crypto actually benefits for their people?

[Sadlife]

One of the main reasons is bitcoin being a decentralized currency and has no rules and regulations. So governments treat it as a ponzi scheme cause they think it's not backed by anything and cannot be monetized but clearly their a bunch of idiots that doesn't know anything about crypto currency and how it works. So they ban it without knowing anything at all.

[BitcoinGirl.Club]

Bitcoin poses a threat to their current monetary system as well as enabling money laundering, tax evasion and enabling in financing terrorism.

These are still happening using fiat currency (cash only).

Ooops, I thought that I put in there that they all happen with fiat as well. Must have thought it but never typed it. Still, it's the excuse they use and a lot of people only believe what they read in the mainstream news so they'll go along with it.

Never-mind. We understand crypto and want the mass people realize the blockchain technology too. We are living on 21st century and mainstream media should not manipulate us.

[ophyrim]

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

This is not true. Just give me 10 example countries who want to stop btc activities. Even G20 countries try to tax BTC activities or much other want to use it as an alternative to USD.

[nazaididuan1]

Because BTC is a privately issued cryptocurrency, no organization guarantees it!
And BTC has some illegal applications, such as money laundering!
In order to ensure the country's economic order to maintain its own rule, the government blocked BTC to disrupt the economic order!

[Gabteb]

Would be right if you said what country you are talking about then would be more easy answer this question but i think there is situation like this counrties which arent so developed try to stop it, but others whcih are leaders in technology spector for example Japan,Korea,Singapur understand its futre and try to be early adopters here too.

[vedderpeterson]

because some think Bitcoin is illegal and won't make any difference at all.
Hope for a RISE UP so they will know Bitcoin's power!

[aris av]

That's because bitcoin is difficult to control by the government, and the government has difficulty regulating taxes for bitcoin, and because bitcoin is anonymous, bitcoin is referred to as a medium for money laundering.

[kucritt]

the main reason why governemtn is not agree with legalize of bitcoin is bitcoin is not trackable and governemnt dont like it. why? because government want to know about the sender and the receiver of each transaction

[ropyu1978]

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

I think this review has been very much, you can even find it on Google search engines
You can find recommendations for knowledge about bitcoin and crypto, especially about the blockchain system from various sources. I only suggest that by reading you will understand more than ask

[Babylon]

They fear it and they couldn't earn from it,
They couldn't control it that is why they hate it unlike banks crypto is decentralized so they couldn't take over it they couldn't put tax on it.

[Robbie2334]

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

the reason for a country to stop bitcoin is because people from that country have a lot of abuse using bitcoin,
for example, they conduct crime transactions through bitcoin, and that greatly hampers the development of a country.

[Nurul_]

maybe they see the price of bitcoin is just a bubble. like a soap bubble which will disappear by itself. as happened at the end of 2017 the price soared. and now it's gone just become history and back memories

[kasansa]

In my opinion many countries fear to support bitcoin is they think all the transaction of their citizens will go in digital even with out any knowledge of the government's and to their country this will cause the damage to government plans But they have to think other side of the coin that people's life style will grow in a standard of economical high in which the government will gain directly and indirectly.

[Ridwan Fauzi]

The main reason is that every bitcoin user can use a pseudonym to be unknown to many people, so as they assume that bitcoin can be used as a system of illegal payments, money laundering, and terrorist funding because it is hard to trace by the government. I guess that the main cause of the government banning bitcoin is growing in its country, it is not a problem that can cause inflation or the government is afraid that every citizen uses bitcoin and leaves the cryptocurrency, these two causes can be handled well so that no one is harmed.