Why are some countries being sentimental with bitcoin and the cryptos at large?

[Mr. Magkaisa]

Government will ban anything their don't have control over and decentralised cryptocurrency like bitcoin are one of such coins that the government can never have control over, or interfere innit transactions, this is obvious a threat to some of the countries leaders who lack the ability to properly understand the role that bitcoin plaus in the economy both at individual level, or institutions or government, but for the fact that just a low percentage of people around the world know and use bitcoin, government believes that the could eventually easily eliminate it when the feel it threat to their economy.

Most of the counties that attack bitcoin, are those that have not economic prosperity or any plan or programs that can help boost the economy and the lack of that have resulted in many of them having a misplaced priority and seeing that cryptocurrency is the enemy of their economy and they tend to attack it with either an outright ban or blankets ban in form of harsh regulation.

       -   Maybe at the beginning they think it's a threat to them that others are doing with bitcoin or cryptocurrency, but later they also take it back because they realize in the end that it can help their country through people who believe in it, even if they say we know that they are not able to control bitcoin or cryptocurrency unless it goes through the regulation that the government has.

But even so, until now, there are still countries that do not think well of them. But even so, the country will eventually understand that Bitcoin is a crypto that will be owned by institutional investors, who are the main ones that can help the economy. of each country.

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[DeathAngel]

Governments don’t like Bitcoin for many reasons, they don’t fully understand it & they don’t like it. Governments like to have full control over currencies used in their countries, except El Salvador who really have changed the game. Look how long it took for the US to allow a Spot Bitcoin ETF to be traded. Central Banks are putting limits on how much you can send to crypto exchanges, governments are requesting more info on crypto investors, strict KYC. It’s crap but the price we paid for increased adoption & higher prices.

[ultrloa]

Are they protecting their citizens from an omen that the cryptocurrencies portrays?
Or they're just being awkward from embracing digital developments?

They are not protecting any citizen against any omen, but they are just being foolishly ignorant to accept the revolution Tech. but the earlier they accept, the better for them. The reason behind why they are so rigid about cryptocurrency is that they only captured the negative side of it without looking at the brighter side of it, sometimes I think most of them haven't benefited much about cryptocurrency thats why they are so stiff. But I believe with time they will see the important of cryptocurrency bitcoin to be precise.

I think that's the true reason why they can't accept bitcoin and any cryptocurrency, because maybe they gathered the negative information and other bad comments attached to crypto earlier, without knowing what the truth is? Because here in our country, the same thing happened, crypto became famous because of its bad image attached to the dark web but because my countrymen have a habit of being curious, they dug to the depths of the information about it and that's when they found out that it was not cryptocurrency is not only being used badly, but it will also be a way for people to be financially secured.

Well that would be a problem if they only listen on the negative side happening on crypto space since if they are not open for other thing which is it can bring a lot of opportunities if been regulated well by them then there's nothing gonna happen with that. Its important for people to choose those leader who's not close minded growth so that this being skeptical attitude will not happen and we can see this new innovations or financial  digitalization will happen. For now its hard to move up if our government is not open for new acceptance and we will remain like this if they always protect first the interest of other financial institution.

If people could just think about how useful of crypto to give better opportunity for a lot of people for sure they would think about creating ways to regulate and do some good actions to protect its citizens and make sure that crypto industries will be clean and away to any negative things that can possibly harm to other people.

[arwin100]

Governments don’t like Bitcoin for many reasons, they don’t fully understand it & they don’t like it. Governments like to have full control over currencies used in their countries, except El Salvador who really have changed the game. Look how long it took for the US to allow a Spot Bitcoin ETF to be traded. Central Banks are putting limits on how much you can send to crypto exchanges, governments are requesting more info on crypto investors, strict KYC. It’s crap but the price we paid for increased adoption & higher prices.

Also maybe they are protecting the interest of other big institutions that been hit badly if crypto market became huge in their country that's why maybe it became so hard for them to adopt bitcoin. If they could just follow what El Salvador President do for accepting bitcoin as their legal tender for sure right now they are harvesting all the efforts or good decisions they have done and they contribute for a huge income flow to their economy especially right now bitcoin price soar high and for sure they earn a lot of profit from accumulating bitcoin and hodl until these days. I don't have problem with KYC thing since right now its normal requirements but government so do good actions to protect the interest of people and make sure that everything came in this industry are real projects and not those scammers attempt to deceive people.

[slapper]

Governments and cryptocurrencies are at odds, simple and complex. Bitcoin and its ilk are breaking down boundaries, democratizing finance, and giving hope to individuals left behind by established economic institutions. On the other hand, the establishment, the status quo, preserves the past

Really self-centered? You could argue that. Governments want to maintain their economies, currencies, and geopolitical power. Do not oversimplify. This goes beyond a roomful of suits disliking Bitcoin because it's new or threatens their power. Speculative digital assets threaten the economic underpinning they monitor, thus stability is key

Protection is another concern. Despite their benefits, cryptocurrencies are unpredictable and a financial Wild West. Scams, catastrophic losses, and the disruptive implications of these assets on a nation's economy are legitimate concerns

[AVE5]

So cryptocurrencies like Bitcoin. Super cool concept, right? They're like the wild west of money – no banks, no government telling you what to do. Sounds awesome, especially if you're picturing yourself as a free spirit living off Bitcoin noodles. Governments aren't exactly fans of things they can't control. Crypto throws a wrench in their whole system, making it harder to track money and prevent stuff like money laundering.  It's like having a bunch of underground tunnels for money to flow through – cool for you, confusing for them. Crypto is still new and kind of unpredictable, like a wild mustang. Governments are all about stability, so something that could potentially crash the whole financial system isn't exactly their cup of tea. They gotta be cautious.

You're on point @southerngentuk but i think there are countries who doesn't even prioritize their grudge for bitcoin or the cryptocurrencies as you may think of the government trying to maintain financial orderliness and regulating the mints of financial flows and for money laundering as you may say.
In my own country, I disagrees that the government meant all these as a reason of being sentimental with the crytpto digital currencies. Believe me @southerngentuk, some countries such as mine are full of rebellions and embezzlers in their government sectors who feds their bank accounts with the public funds on irregularity and illegal taxes mandated on their citizens. That's just to say that the government is mad at the technology that they can't get through it and impose such taxes on their citizens so they could always extract fem the masses.

Talking about the government talking adequate reliabilities to bridge the existence of a currency that they are not in control of and same time don't know about its future potentials based on how it could crash is a good point of view because of such is occured the same government who permited the inflow of the development would still be the ones to be blamed. But these actions are only prioritized within the countries that thinks good for their citizense. Not mine.

[dezoel]

Are the government self-centered?
Are they protecting their citizens from an omen that the cryptocurrencies portrays?
Or they're just being awkward from embracing digital developments?

It's not about protecting their citizen or being embarrassed, countries that are not ready to accept cryptocurrencies and are doing their best to keep them out of their countries are thinking about long-term, and the reason for that is they know they will start losing control over their people and their financial activities if they allow them to openly use cryptocurrencies because they can't control cryptocurrencies such as Bitcoin the way they control fiat currencies.

So, they are not ready to accept cryptocurrencies and allow their people to use them because they don't want to lose control, they want to keep a control over the finances and financial activities of people because that is how they keep them following them.

[AmoreJaz]

Are the government self-centered?
Are they protecting their citizens from an omen that the cryptocurrencies portrays?
Or they're just being awkward from embracing digital developments?

It's not about protecting their citizen or being embarrassed, countries that are not ready to accept cryptocurrencies and are doing their best to keep them out of their countries are thinking about long-term, and the reason for that is they know they will start losing control over their people and their financial activities if they allow them to openly use cryptocurrencies because they can't control cryptocurrencies such as Bitcoin the way they control fiat currencies.

So, they are not ready to accept cryptocurrencies and allow their people to use them because they don't want to lose control, they want to keep a control over the finances and financial activities of people because that is how they keep them following them.

I believe that's the main reason as well. As the government can't get a hold of the transactions related to crypto, they won't have the idea to what extent their people are dealing with this market. So they can't implement their taxation protocols appropriately. As we have seen, it depends on how the person will disclose his crypto dealings to the government. This is why most governments don't want to touch the crypto market and include in their financial plans.

As of the moment, most government officials don't fully understand how this market works, hence, they are against with it. Also, they don't know how to contain their people in using these cryptocurrencies. This is why they are only giving some warnings regarding the usage of crypto or precautionary measures not to get involve here if they are not knowledgeable about this market.

[Cryptomultiplier]

Are the government self-centered?
Are they protecting their citizens from an omen that the cryptocurrencies portrays?
Or they're just being awkward from embracing digital developments?

It's not about protecting their citizen or being embarrassed, countries that are not ready to accept cryptocurrencies and are doing their best to keep them out of their countries are thinking about long-term, and the reason for that is they know they will start losing control over their people and their financial activities if they allow them to openly use cryptocurrencies because they can't control cryptocurrencies such as Bitcoin the way they control fiat currencies.

So, they are not ready to accept cryptocurrencies and allow their people to use them because they don't want to lose control, they want to keep a control over the finances and financial activities of people because that is how they keep them following them.

Many governments want to be able to understand and observe fully the extent to which cryptocurrency is safe for the citizens.
Being that cryptocurrencies is decentralized and can perform full functions like regular banks would do, it makes it easier for any Dick and Harry to use it for good transactions or a bad one or to launder monies stolen or ill gotten without as much as a trace and that is a major concern for them, hence why they scrutinize and regulate and tax crypto users, all with the aim of keeping it controlled to some degree.

The world is advancing and countries not catching up fast will become left to bother about how they missed the point and will soonest sort the help of the more advanced countries in order to become economically balanced.

[oktana]

The government wants to be in control. Above all things, this is one of the things that matters the most. If a government perceives Bitcoin as a threat to its operations, they would want to throw it out. I don’t believe that any country has really rejected or banned Bitcoin because they were trying to protect their citizens. And it’s equally not about embracing digital development because if you look around, other digital technological ideas are being welcomed with no problems.

[yohananaomi]

In my opinion, governments are still evaluating how cryptocurrency can benefit them and their citizens. Since each country has unique challenges, cryptocurrency adoption will likely vary. However, if governments recognize the potential advantages, they may become more receptive to cryptocurrency. Ultimately, the key lies in understanding how cryptocurrency can serve the government's needs .

There is no government anywhere that can avoid technological progress and this includes crypto, but a true government must be able to protect its citizens from the effects that would arise if they want to accept crypto.
I agree with you, first is understanding about crypto itself in society, followed by whether the existence of crypto is able to make a good contribution to society and the country, as long as it will be profitable. Of course, the state will be able to accept it with regulations which frankly must be made as good as possible so that it doesn't there are effects that occur in the future.

[wxa7115]

The government wants to be in control. Above all things, this is one of the things that matters the most. If a government perceives Bitcoin as a threat to its operations, they would want to throw it out. I don’t believe that any country has really rejected or banned Bitcoin because they were trying to protect their citizens. And it’s equally not about embracing digital development because if you look around, other digital technological ideas are being welcomed with no problems.

Politicians often claim that everything that they do is for the benefit of the citizens of their country at large, but often this is not the case since they support that what it benefits them, and bitcoin is not really something they will support wholeheartedly.

However, since the population of several countries, like the US, are investing heavily on it, now they do not have too much of a choice but to try to claim that they are in favor of it, even when the time comes to create laws around it, they take the opposite stance and they try to regulate bitcoin as much as possible.

[Strongkored]

despites the potnetials of bitcoin that has helped the masses to reduce the rate of unemployment and has also served as Alt source of incomes to some person's.

Bitcoin is only profitable for people who have it and you can only have it by buying or investing while poor citizens will find it difficult to understand the benefits of Bitcoin if they have it because they already have difficulty meeting their living needs, so decreased unemployment or benefits from Bitcoin will not directly felt by citizens of countries whose countries accept Bitcoin because citizens still have to have Bitcoin to be able to get the benefits.
So even the information you mentioned is wrong, so it makes sense when many countries prohibit it because the information that is developing does not completely correctly describe Bitcoin

Are the government self-centered?
Are they protecting their citizens from an omen that the cryptocurrencies portrays?
Or they're just being awkward from embracing digital developments?

I don't think so, they are just trying to protect their community but often their methods are not in accordance with what the community expects, and also a lack of information or people in government often only get inappropriate information so that the steps taken are negative for their citizens, and governments will always put their fiat first and think that the presence of Bitcoin could be a threat to their fiat is also the reason why many countries continue to ban Bitcoin

[Patrol69]

The government wants to be in control. Above all things, this is one of the things that matters the most. If a government perceives Bitcoin as a threat to its operations, they would want to throw it out. I don’t believe that any country has really rejected or banned Bitcoin because they were trying to protect their citizens. And it’s equally not about embracing digital development because if you look around, other digital technological ideas are being welcomed with no problems.

The economic system of these countries is very strong and any challenge that these countries may take, these countries may not be too worried about legalizing Bitcoin, but the governments of countries whose economic conditions are in the middle do not want to take this risk. In those countries whose economic conditions are not very strong, the government of those countries wants to have complete control over money, while the government of those countries wants people to transact through banks. When the people transact through the bank, the government of the country with the economy will be under control, but whenever the people of the country transact through Bitcoin, except the bank, the government cannot control that money.  Considering these aspects, the governments of many countries usually refrain from making positive decisions about Bitcoin.

[Sebas.tian]

I don't know whether it has a bad impact on some retailers or institutions in a country, but if the news spreads like this then I don't think anyone will be able to stop it, they are forced to join because BTC has also been very accepted in power countries like the USA, even their president is pro against bitcoin now.

Since Bitcoin has gone far in the world, I don't think it will be easy for a government to stop Bitcoin in their countries, because Bitcoin is different from fiat money which is very popular in the countries and is be control by the government and the government has the power to stop such currency. You can see that many government have surrender, since they cannot stop Bitcoin base on the way they are spreading the Bitcoin around the whole world and it has increased the number of Bitcoin users. If El Salvador government can generate many income from Bitcoin to help the country to construct so many roads and companies that is generating income to their government account.

[slapper]

The government wants to be in control. Above all things, this is one of the things that matters the most. If a government perceives Bitcoin as a threat to its operations, they would want to throw it out. I don’t believe that any country has really rejected or banned Bitcoin because they were trying to protect their citizens. And it’s equally not about embracing digital development because if you look around, other digital technological ideas are being welcomed with no problems.

The economic system of these countries is very strong and any challenge that these countries may take, these countries may not be too worried about legalizing Bitcoin, but the governments of countries whose economic conditions are in the middle do not want to take this risk. In those countries whose economic conditions are not very strong, the government of those countries wants to have complete control over money, while the government of those countries wants people to transact through banks. When the people transact through the bank, the government of the country with the economy will be under control, but whenever the people of the country transact through Bitcoin, except the bank, the government cannot control that money.  Considering these aspects, the governments of many countries usually refrain from making positive decisions about Bitcoin.

The middle-tier is afraid to try Bitcoin, whereas strong economies are using it. It comes down to control. Governments, especially poor ones, are preoccupied with it. Uncontrolled, unpredictable Bitcoin sends shivers down their spines

Banks are the government's financial eyes and ears. Tracking every dime and transaction. But Bitcoin? Bitcoin operates outside traditional rules; it's risky, but offers financial freedom. That scares them to death, my friend

Why? Because Bitcoin represents a power change, not just digital currency. From government towers to smartphone screens

Disappointingly, people continue to cling to old ways, hesitant to accept something new. Fear, not simply the economy. Fear of the unknown, losing control. But progress waits for no one. Bitcoin exists now. Nations must wake up and smell the digital roses. Control is a myth, and Bitcoin? It's the unexpected reality check

[angrybirdy]

The government wants to be in control. Above all things, this is one of the things that matters the most. If a government perceives Bitcoin as a threat to its operations, they would want to throw it out. I don’t believe that any country has really rejected or banned Bitcoin because they were trying to protect their citizens. And it’s equally not about embracing digital development because if you look around, other digital technological ideas are being welcomed with no problems.

Politicians often claim that everything that they do is for the benefit of the citizens of their country at large, but often this is not the case since they support that what it benefits them, and bitcoin is not really something they will support wholeheartedly.

However, since the population of several countries, like the US, are investing heavily on it, now they do not have too much of a choice but to try to claim that they are in favor of it, even when the time comes to create laws around it, they take the opposite stance and they try to regulate bitcoin as much as possible.

and we all know that what they are doing is not for the good of the people in their own country, They are always looking at things that will benefit for themselves, that's how greedy the people sitting in the government are, everything will be claimed and everything will be interfered with even if it is not a must. When it comes to bitcoin, they will certainly interfere because they know the value of the money of the people who invest in it, fortunately here in our country the government has not interfered too much when it comes to crypto but it is not unlikely that they will do such things and decisions especially when it comes to money.

[Miles2006]

Can government truly accept bitcoin as a legal tender or not, well in my opinion it's difficult but not all like we've seen that with El Salvador and the use of bitcoin. Government accepting bitcoin as a legal tender might be difficult in most countries and the major problem leaders get with bitcoin is the freedom, bitcoin cannot be controlled and the government find bitcoin as a threat compared to the fiat system, fear of how the country will look like and the economy so with all this it's difficult, to them trusting a digital currency is nothing meanwhile it's far better than the fiat system.

[oktana]

I don't know whether it has a bad impact on some retailers or institutions in a country, but if the news spreads like this then I don't think anyone will be able to stop it, they are forced to join because BTC has also been very accepted in power countries like the USA, even their president is pro against bitcoin now.

Since Bitcoin has gone far in the world, I don't think it will be easy for a government to stop Bitcoin in their countries, because Bitcoin is different from fiat money which is very popular in the countries and is be control by the government and the government has the power to stop such currency. You can see that many government have surrender, since they cannot stop Bitcoin base on the way they are spreading the Bitcoin around the whole world and it has increased the number of Bitcoin users. If El Salvador government can generate many income from Bitcoin to help the country to construct so many roads and companies that is generating income to their government account.

Meanwhile some countries are just sitting and watching other countries that have accepted Bitcoin and waiting to see how it turns out before wanting to also approve it in their nation. If the countries that have implemented it made big news that their economy has been great since they approved bitcoin, countries would likely start considering it.

Some countries also don’t say anything about it (they don’t approve no disapprove) because they haven’t seen bigger countries which they look up to approving it. So they are like “it doesn’t really matter if our citizens use it or not”

[Patrol69]

The government wants to be in control. Above all things, this is one of the things that matters the most. If a government perceives Bitcoin as a threat to its operations, they would want to throw it out. I don’t believe that any country has really rejected or banned Bitcoin because they were trying to protect their citizens. And it’s equally not about embracing digital development because if you look around, other digital technological ideas are being welcomed with no problems.

The economic system of these countries is very strong and any challenge that these countries may take, these countries may not be too worried about legalizing Bitcoin, but the governments of countries whose economic conditions are in the middle do not want to take this risk. In those countries whose economic conditions are not very strong, the government of those countries wants to have complete control over money, while the government of those countries wants people to transact through banks. When the people transact through the bank, the government of the country with the economy will be under control, but whenever the people of the country transact through Bitcoin, except the bank, the government cannot control that money.  Considering these aspects, the governments of many countries usually refrain from making positive decisions about Bitcoin.

The middle-tier is afraid to try Bitcoin, whereas strong economies are using it. It comes down to control. Governments, especially poor ones, are preoccupied with it. Uncontrolled, unpredictable Bitcoin sends shivers down their spines

Banks are the government's financial eyes and ears. Tracking every dime and transaction. But Bitcoin? Bitcoin operates outside traditional rules; it's risky, but offers financial freedom. That scares them to death, my friend

Why? Because Bitcoin represents a power change, not just digital currency. From government towers to smartphone screens

Disappointingly, people continue to cling to old ways, hesitant to accept something new. Fear, not simply the economy. Fear of the unknown, losing control. But progress waits for no one. Bitcoin exists now. Nations must wake up and smell the digital roses. Control is a myth, and Bitcoin? It's the unexpected reality check

All the banks that exist in a country are controlled by the central bank and because they are controlled through the central bank, the central bank takes a part of the bank's profit which is the government's profit. The government wants people to do more transactions through banks. As much as people make transactions through banks, the government will take profit from those transactions. The economy of the middle economy countries depends a lot on bank transactions, but if the people of that country transact through Bitcoin instead of bank transactions, they will face a big financial loss. Mainly to avoid this financial loss, middle economic countries have always been on the opposite side to legalize Bitcoin in their countries.