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

[BobK71]

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

If the government could regulate it properly, they would have allowed it long ago. Such negative reactions are expressed when they are struggling to control it. It can also be a cause for fear, especially in countries where corruption is high. Because the people of those countries will want to use Bitcoin as a means of transferring money from one country to another without paying any tax to the government.

[cloudfir3e]

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

If the government could regulate it properly, they would have allowed it long ago. Such negative reactions are expressed when they are struggling to control it. It can also be a cause for fear, especially in countries where corruption is high. Because the people of those countries will want to use Bitcoin as a means of transferring money from one country to another without paying any tax to the government.

It seems that countries that ban bitcoin are not out of fear that people in those countries will transfer their money to other countries without paying taxes to the government.
but rather because the country is concerned that the development of bitcoin could affect financial institutions and reduce the value of paper money in the country.
Direct holdings of bitcoin, as well as a large number of related derivative contracts, can expose financial institutions to credit, market and liquidity risks.

The risk can also be systemic if the institution is linked to other financial sector entities, or if ownership is widespread in the financial system.

In addition, a significant increase in bitcoin interest will cause disruption to the financial system and inflation in the country's economy in the event of a large bitcoin price decline.

[Lida93]

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

Without economic control in any government, just the Political alone can't wield the will of the government on its citizens and this the government understand and would do or create every propaganda possible to mitigate against anything that will undermine them.

"For those who control the economic aspect of the economy controls the political".

[TheNineClub]

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

It's a control thing for sure. Crimes are being done through FIAT as well and no one is worried. If you as a government can't control the currency your people use, then you don't control the people. I know this sounds like a conspiracy theory, but it's not really, it's just one of the methods implemented by governments. I doubt BTC can solve the issue of criminal activities, it's just the nature of crypto.

[themostfabulous]

dave said it right countries are afraid of losing taxes and losing financial control of there citizens.

[Oasisman]

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

can be easily used to fund crimes? Well, that doesn't make sense. Fiat has been used to fund criminal activities for a very long time already, did they ban it? Obviously no. Why? because they are the one who created it and of course they have full control over it.
Government banning Bitcoin and decentralized crypto basically because they have no control over it and they had a hard time regulating it, especially the taxation portion.
I can't find any legit reasons behind Bitcoin banning other than that.

[jhonjhon]

I believe that governments are creating other digital currencies because they want to control everyone and because doing so will give them access to monitor and manage whatever it is that they want to do with that money, unlike with bitcoin, which gives them no such access. Since bitcoin is decentralized and its widespread usage will reduce government control, that's why they refuse to embrace it.

[pawanjain]

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

Banning bitcoin because it is being used for criminal activities is the most rubbish reason I have heard of all times.
It's like fiat isn't used for criminal activities at all. In fact the fiat cash used for criminal activities cannot be tracked at all.
So it's kind of obvious that the government is afraid of losing control which is the reason why many governments are restricting the usage of cryptocurrencies in their countries.

[darkangel11]

IMO there's more than one reason why they ban it. Usually it's because they're afraid of people hiding their wealth and being able to transfer money abroad without the government's knowledge.
The second popular reason is they're afraid of bribes. In India the government officials were taking crypto bribes and those who found out about it overreacted and banned crypto, instead of using severe punishments to make it not worth for public servants to take bribes. The third most popular reason for banning is CBDC. Countries who want to launch their own crypto treat bitcoin like competition.

[Russlenat]

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

If people will focus on fiat, the government will always take advantage of the people since fiat is always controlled by the government, and that they get to trace the people’s fiat activities. However, with bitcoin, it’s hard for them to control its people’s activities because bitcoin is decentralized. So aside from being suspected that it funds criminal activities, bitcoin is also treated as a bad influence to people since its taking them away from the government. Whatever the reason, I think it’s very clear that the government will use a lot of excuses just to stop people from trusting and using bitcoin in the future.

[Rengga Jati]

If the government could regulate it properly, they would have allowed it long ago. Such negative reactions are expressed when they are struggling to control it. It can also be a cause for fear, especially in countries where corruption is high. Because the people of those countries will want to use Bitcoin as a means of transferring money from one country to another without paying any tax to the government.

In fact, the government is not able to regulate or will be very difficult to regulate Bitcoin.
And I agree that such criminal reason is only a reason, but not the least and not the significant reason. I believe that regulation is the main reason. However, they cannot control it and will feel difficult to make it as taxes. But here, they are always trying to control by creating centralized exchanges and restricted exchanges in a country

[Minecache]

IMO there's more than one reason why they ban it. Usually it's because they're afraid of people hiding their wealth and being able to transfer money abroad without the government's knowledge.
The second popular reason is they're afraid of bribes. In India the government officials were taking crypto bribes and those who found out about it overreacted and banned crypto, instead of using severe punishments to make it not worth for public servants to take bribes. The third most popular reason for banning is CBDC. Countries who want to launch their own crypto treat bitcoin like competition.

What you mentioned may not be wrong, but without crypto it still happens. It is human nature, human greed, if they don't use cryptocurrency, they will also use fiat money or any other asset to do their nefarious acts. Criminals also used fiat for their evil purposes before bitcoin came along and this is not the reason, the real reason is the government is afraid of bitcoin affecting fiat power and dominance.

[Hispo]

I'd like to point out the most explicit case of anti-Bitcoin policies by a sovereign country here in South America: Bolivia.
Since the beginning that country did not care to give Bitcoin and other cryptocurrencies a chance withtin their economies, giving a total ban to Bitcoin and other decentralized assets.

I am not sure why, but I'd dare to say it was because the fear and ignorance of politicians of that country about this subject, I would like to ask a bolivian about this if I had the chance.

[Gyfts]

If it truly were because of criminal activity, they might as well ban their own fiat currency and go back to the barter system, because most criminals use normal currency, not crypto.  Criminal activity is just the convenient excuse they'll use to justify a ban because they need a scapegoat to protect their financial institutions. I've seen other posters mention taxes - Tax evasion is easier with crypto, but most of the wealthy ship their funds overseas into tax havens, and the wealthy pay the bulk of taxes. If the tax collecting institutions wanted to prevent tax evasion and they're looking at crypto for amends, they're looking in the wrong place.

[danadc]

The countries that are prohibited is mainly because the governments do not find a way through laws on how they can extract money from those who have crypto, for that reason it is when they enter they do it through regulations, and also because they want to collect a lot of tax, They are aware that people who manage crypto can do so with very large amounts of money that is greater than what is handled in banks, and they want to take a slice of it.
Everything is interest suicide, and since most of the things that governments do is to benefit themselves and not their people, they cannot stop them from having their big profits.

[Abiky]

Some governments are afraid of bitcoin, because their national fiat currencies are weak and valueless, what can encourage citizens to stop dealing with fiat and adopting bitcoin for every daily transactions. In case that happens, the local economies will collapse temporarily and that is the reason why I think some governments are so concerned about bitcoin adoption. In fact, they just need to learn more about bitcoin and open their minds to new ideas that could help them improving the life quality of their people and financial standards. They should follow the steps of innovative countries which are ahead in technological and social matters, also adopting a friendly stance towards bitcoin.

Indeed. Governments are afraid of Bitcoin simply because it poses as a threat to the very existence of Fiat. They believe people will "ditch" national currencies in favor of sound money no one can control (Bitcoin). That's the reason you see most governments telling the public that Bitcoin is used by money launderers and tax evaders. But the truth is that Fiat is the one that's mostly used for criminal activities.

With Bitcoin, such activities almost non-existent thanks to its transparent Blockchain ledger. It's so much easier to track and trace malicious actors on Bitcoin's blockchain than paper money (Fiat). Even though adoption for Bitcoin increased in some countries, Fiat is still "King". I'm fine with that as long as decentralization wins in the long run. Who knows if governments give up in trying to destroy Bitcoin completely? Just my thoughts

[Rockstarguy]

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

can be easily used to fund crimes? Well, that doesn't make sense. Fiat has been used to fund criminal activities for a very long time already, did they ban it? Obviously no. Why? because they are the one who created it and of course they have full control over it.
Government banning Bitcoin and decentralized crypto basically because they have no control over it and they had a hard time regulating it, especially the taxation portion.
I can't find any legit reasons behind Bitcoin banning other than that.

You know when the government is against something they will look for a blame to put on it, ever since before cryptocurrency came out criminal activities have been going on for a very long time. Cryptocurrency came and they find it so difficult to control it, they had to look for what they will say bad about it just to tarnish the image of cryptocurrency,  even with all sort bad things government have said concerning cryptocurrency,  the cryptocurrency market is still growing very large.

[Asiska02]

Criminal conduct may be one of the reasons, but that is not the main justification for the ban. Even before the advent of cryptocurrencies, criminal conduct was rife. The primary factor should be the regulation of it, which they are powerless to manage. They receive no benefits and don't want it so. They want to make money from everything, thus everything should be under their control, but cryptocurrency is out of their hands.

[Abiky]

Criminal conduct may be one of the reasons, but that is not the main justification for the ban. Even before the advent of cryptocurrencies, criminal conduct was rife. The primary factor should be the regulation of it, which they are powerless to manage. They receive no benefits and don't want it so. They want to make money from everything, thus everything should be under their control, but cryptocurrency is out of their hands.

The main reason why countries are against Bitcoin is because they can't control it. Even though they can enforce KYC across centralized exchanges, they still won't be able to identify people who use the blockchain directly for day-to-day payments. This makes it impossible for governments to track and trace every transaction performed by malicious actors on-chain. And with privacy-oriented cryptocurrencies like Monero and Zcash, the situation is worse.

We should expect constant opposition to Bitcoin and other cryptocurrencies because of the way they were designed. This is normal and shouldn't be a reason to be alarmed. CBDCs will be launching soon, so it's likely the majority will go against crypto for their own interests. Just my thoughts

[BobK71]

We should expect constant opposition to Bitcoin and other cryptocurrencies because of the way they were designed. This is normal and shouldn't be a reason to be alarmed. CBDCs will be launching soon, so it's likely the majority will go against crypto for their own interests. Just my thoughts

There are some people who are always find to different ways to commit crimes. When they learn that there is no fear in financial transactions through Bitcoin, they choose it as their weapon. But there are many such events that happen by fiat money as well. So the government should realize its importance and allow it according to the positive effect.