Why is Cryptocurrency banned in my country? How it ACTUALLY works.

[sushil]

What do you think about this video? https://www.youtube.com/watch?v=RMRvqMmYOjU&t=87s

Please give me genuine answers. Because It's also illegal in my country and I don't have any idea why the government of our country doesn't like crypto.

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[hugeblack]

Please give me genuine answers. Because It's also illegal in my country and I don't have any idea why the government of our country doesn't like crypto.

Do not take legal, tax advice from anonymous people on the Internet.
If cryptocurrency is illegal in your country, there are not many things to do:

 - Stay away from any central platforms.
 - Only buy from trusted people or avoid buying.
 - Avoid selling at all and keep the coins (the law punishes differently the seller than buyer)
 - Try to spend those currencies if you travel outside your country.
 - You can try offering digital services outside the country in exchange for Bitcoin.

In general, the matter differs from one country to another and how serious the country is in imposing a ban on cryptocurrencies.
Do not take legal, tax advice from anonymous people on the Internet.

[STT]

The principal reason would be taxes I suppose and avoiding tax can mean jail time (even if this is not your intent its their perception of your association) so its best to be careful in your interests.   I agree its best to just to use BTC true its nature which is peer to peer not via any registered company, if you keep yourself low key like that I imagine you would avoid >90% of the negative attention that might be drawn otherwise.   Some people change their jurisdiction because of these restrictions, if you are involved everyday then thats probably for the best rather then avoidance minute to minute.

People are stronger then governments, we allow them not vice versa but thats as a group dont take a 1 man fight.

[cryptoaddictchie]

Its all about the money. I think your country aside from their concern about cryptocurrency is like an illegal thing is the fact that they cant control it somehow or can get anything from those doing activity on this. Even US having hard time to track and documented individual with this, thats why other countries trying to opressed or prohibit its uses. Anyway good thing my country for now is still at the level of favorness to crypto somehow or even if they not. It will take a long time before international can set up a general law for all of this unless BTC gonw which is highly unlikely to happen.