Countries have banned Bitcoin; Do you believe is because of criminal activities

[Okorieuky]

Most countries are giving excuses and  reason for banning Bitcoin is because it can easily be used to fund crimes.
But I think they are afraid of losing control of their citizens' financial activities because they believe being the ones regulating financial activities makes them powerful.
What are your thoughts

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[DaveF]

It's been discussed 100s of times here. But for the most part it seems to come down to taxes. If you can move large amounts of money in whatever form without the government knowing then they don't get their tax revenue. So they try to regulate & control ways of moving money so they do get their cut of it.

Anything else is all smoke an mirrors and excuses.

-Dave

[mk4]

We all know that bitcoin/crypto being used for criminal activities is only minuscule. Countries just ban Bitcoin because they know they can't control it; simple as that.

[Konfusioon]

We all know that bitcoin/crypto being used for criminal activities is only minuscule. Countries just ban Bitcoin because they know they can't control it; simple as that.

As far as criminal activities are concerned countries percieve the impact of crypto to be rather significant. So even if 1% of crypto transactions are related to criminal activities, but 40% of all relevant criminal activities are handled in crypto, it is still a problem. I will not take a stand on wether banning crypto is effective in alleviating that or not, but it can certanly score some political points to be tough on crime and therefore be tough on crypto as well. So yeah, some calculations in banning crypto are related to criminal activities. Though it is certanly not the sole or even the most important consideration

[Despairo]

As far as criminal activities are concerned countries percieve the impact of crypto to be rather significant. So even if 1% of crypto transactions are related to criminal activities, but 40% of all relevant criminal activities are handled in crypto, it is still a problem. I will not take a stand on wether banning crypto is effective in alleviating that or not, but it can certanly score some political points to be tough on crime and therefore be tough on crypto as well. So yeah, some calculations in banning crypto are related to criminal activities. Though it is certanly not the sole or even the most important consideration

Did you think there's no criminal or money laundering using fiat money? lol, Bitcoin exist since 2008, while criminal or money laundering already exist so long time ago, of course they're using fiat money to do that. You should look at this article [1] where the money laundering using Bitcoin is completely far than using fiat money. Criminal can use Bitcoin as an option, but you need to spesk with the data and fact about how much the Bitcoin usage by criminal rather than talking like you're know everything.

[1] https://www.linkedin.com/pulse/comparing-money-laundering-cryptocurrencies-fiat-aly-madhavji-%E7%A9%86%E4%BA%9A%E9%9C%96

[masterrex]

Most countries are giving excuses and  reason for banning Bitcoin is because it can easily be used to fund crimes.
But I think they are afraid of losing control of their citizens' financial activities because they believe being the ones regulating financial activities makes them powerful.
What are your thoughts

Haha, thats all crazy alibis, IMO, the truth is, some governments are afraid to deal with Bitcoin, especially in those countries that look suspicious and non-democratic, and the real reason is simple and too obvious. because they can't control Bitcoin thats why they ban it. and I don't believe that it's because it was used in criminal activities thats too shallow reason and far from reality because fiat is commonly used in criminal activities anywhere else in the world.    

[Jemzx00]

It's more likely about decentralization of crypto and bitcoin as to why various government are banning bitcoin and cryptocurrencies. Even if we know that bitcoin and other cryptocurrencies are being used for criminal activities but still even in fiat, criminal and illegal activities can be easily done if given enough knowledge and time.  

It's more about decentralization and control why countries would ban crypto.

[blockman]

Most countries are giving excuses and reason for banning Bitcoin is because it can easily be used to fund crimes.

It's not an excuse, that's what really thinks of bitcoin after that it's been widely adopted and the growth rate is increasing. We can't change their minds but they should look to cash, it's more used in those illegal activities.

But I think they are afraid of losing control of their citizens' financial activities because they believe being the ones regulating financial activities makes them powerful.
What are your thoughts

Regulation will always be their priority. That's why as much as they can, they are trying to do things according to what's on their law. And most countries don't have the law yet about bitcoin and taxation.

[kryptqnick]

You can check the legal status of Bitcoin by country on Wikipedia or on other maps elsewhere, and if you do, you'll see that most countries aren't actually banning Bitcoin and thus aren't giving excuses for doing that. Also, I feel like the crime argument was more popular earlier as an anti-crypto argument, and now it's more of a pro-KYC argument. As for a banning reason, environmental impact is mentioned more often, IMO, but it's a reason for restricting mining, not storing or trading Bitcoin.

[mk4]

As far as criminal activities are concerned countries percieve the impact of crypto to be rather significant. So even if 1% of crypto transactions are related to criminal activities, but 40% of all relevant criminal activities are handled in crypto, it is still a problem.

Even then — even if bitcoin and cryptocurrencies didn't exist then they'd continue on conducting crime schemes but in fiat instead. If anything, they should actually prefer the tracable nature of most cryptocurrencies, because a lot of ignorant crime-doers ignorantly send funds to their KYC accounts.

[348Judah]

Most countries are giving excuses and  reason for banning Bitcoin is because it can easily be used to fund crimes.
But I think they are afraid of losing control of their citizens' financial activities because they believe being the ones regulating financial activities makes them powerful.
What are your thoughts

Your point were right and these are part of the reasons the government take in hands against bitcoin, another reason is the fact that bitcoin is decentralized, this gives them a no right and authority over the financial situation of the people, another reason is the anonymity in bitcoin, they prefer having your private lives at their disposal for easy comprehension of you whenever they needed to, another reason is their transaction charges on users account and the cross boarder fee incentives they benefited as well which are all things that affected me and you but we lack the right to stop or querry them about it, bitcoin offers a solution to them all, if you were the government wouldn't you do worst than that.

[tranthidung]

Most countries are giving excuses and  reason for banning Bitcoin is because it can easily be used to fund crimes.

Everything on Earth can be used for criminal activities. There is black and white story and there are people who stay in different sides.

Do the world ban Internet because bad people use to to sell addictive drugs, terrorist and other bad things? They can not ban Internet because it is a necessary part of human civilization. They can try to censor contents on Internet, stricter regulations etc but no completely ban.

But I think they are afraid of losing control of their citizens' financial activities because they believe being the ones regulating financial activities makes them powerful.

They want to protect their centralized and inflationary finance systems. They will try to make more regulations to control and reduce the power of Bitcoin and decentralized finance but they can not ban such hazard things entirely. By hazard I meant, in view of governments, not citizens.

[yhiaali3]

Of course, these are just lies they use to justify their ban on Bitcoin, it is true that some criminals use Bitcoin as well as terrorist organizations to fund their crimes and hide their true identity, but at the same time these terrorists use dollars, euros and yuan as well, why not ban fiat so that terrorists do not use it?
It can be said that everything has two sides, one good and the other bad, and you cannot force all people to use only the good side. For example, the Internet has a very good side that contains millions of useful things, and the other side is bad and contains terrible things. Should we ban the use of the Internet because some criminals do terrible activities through Internet?

[Ultegra134]

Cryptocurrencies are not the root of evil when it comes to criminal activities, since they've only been around for less than two decades. Certainly, all darknet markets use cryptocurrencies for their anonymity and effectiveness, but that's just the tip of the iceberg.

In my opinion, governments are against cryptocurrencies for tax evasion purposes, especially now with decentralised exchanges and DeFi.

[Konfusioon]

As far as criminal activities are concerned countries percieve the impact of crypto to be rather significant. So even if 1% of crypto transactions are related to criminal activities, but 40% of all relevant criminal activities are handled in crypto, it is still a problem. I will not take a stand on wether banning crypto is effective in alleviating that or not, but it can certanly score some political points to be tough on crime and therefore be tough on crypto as well. So yeah, some calculations in banning crypto are related to criminal activities. Though it is certanly not the sole or even the most important consideration

Did you think there's no criminal or money laundering using fiat money? lol, Bitcoin exist since 2008, while criminal or money laundering already exist so long time ago, of course they're using fiat money to do that. You should look at this article [1] where the money laundering using Bitcoin is completely far than using fiat money. Criminal can use Bitcoin as an option, but you need to spesk with the data and fact about how much the Bitcoin usage by criminal rather than talking like you're know everything.

[1] https://www.linkedin.com/pulse/comparing-money-laundering-cryptocurrencies-fiat-aly-madhavji-%E7%A9%86%E4%BA%9A%E9%9C%96

Read my comment again. I´m not making most of the claims you are saying. I´m not claiming that criminal activities with fiat money are not happening. My 1% and 40% are not meant to be taken as a fact but as illustration. To give another example. Most of the guns owned by people are used for totally legal purposes. Yet depending on the country there can be a lot of crimes related to gun violence. This means that for politicains it can be useful to consider restrictions on guns. Of course even with gun ban crime can and will continue with other deadly weapons. Just so you would not misunderstand me again. I am not saying that guns and bitcoins are the same. Example of guns is just a useful example in this case. Even if 1% of gun purchases lead to gun violence of some sort, it can still be enough for countries to consider bans or restrictions. Likewise I am not saying that ban on crypto is a good idea. I am merely stating that it is obviously an argument in the discourse.

[teosanru]

Most countries are giving excuses and  reason for banning Bitcoin is because it can easily be used to fund crimes.
But I think they are afraid of losing control of their citizens' financial activities because they believe being the ones regulating financial activities makes them powerful.
What are your thoughts

I think money laundering is obviously a big problem, tax evasion and black money. All these problems are actually crimes only if you see from a nation's perspective. So this is the reason why countries have banned bitcoin to safeguard the income being generated from taxes. But yes there is a lot of tax evasion even if people don't use bitcoin. People always know how to find a way to evade taxes. Cryptocurrencies just form a very small percentage out of all the tax evasion that happens all around the world. So it's more or less just a Myth.

[NotFuzzyWarm]

Most countries are giving excuses and  reason for banning Bitcoin is because it can easily be used to fund crimes.
But I think they are afraid of losing control of their citizens' financial activities because they believe being the ones regulating financial activities makes them powerful.
What are your thoughts

NO, most countries are NOT giving excuses and reasons for banning crypto coins. Only a very very few have banned them with China being the largest one.
BTW, "Btcoin" is not a generic term that covers all crypto coins. It is one specific coin out of hundreds of different ones just the same as a Dollar is not a Peso or a Ruble or Yuan.

[amishmanish]

How many drug lords or dons use crypto? How many corrupt officials take crypto bribes. How any warlords by weapons through crypto... I havent read about any in newspaper. But yes governments are  launching their own digital currencies, to compete with bitcoin. To me it seems more like a case of insecurities by government, rather than crime preventive measures.

[franky1]

most countries cannot regulate or licence it (permit it) unless they have first banned it.
then they can allow certain businesses/entities permission to use it under their guidance or rules

[CryptSafe]

Most countries are giving excuses and  reason for banning Bitcoin is because it can easily be used to fund crimes.
But I think they are afraid of losing control of their citizens' financial activities because they believe being the ones regulating financial activities makes them powerful.
What are your thoughts

Well I feel it this way, government can come up with the excuses of terrorist, money laundry what have you etc but as we all know there is always a cockroach hidden in the cupboard and an ulterior motive by the government and power that be.  The powers that be are just too afraid of wealth distribution within the masses and they are happy seeing the people in abject penury and this I believe is one of the major reasons why Satoshi can to settle and now the government are afraid of loosing grip of the masses they want to sing their praises. Another I believe is tax evasion for which you would not hear them talk. Blockchain has cut government assess to people's wealth no more monitoring hence the tax evasion reasons for condemning Crypto currency. I laugh loud because I know power and wealth is shifting and gradually the elites would have no say again.