Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: ShadowCrypto on October 19, 2019, 07:08:03 PM
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Let’s start this discussion again.
we know that cryptocurrencies are so good, so why are so many governments don’t like it?
If people use bitcoins, instead of the state currency, the government can not “tax” them or give a “value” through the inflation “tax”
The key to its success is something called the blockchain. The blockchain is a means of solving the double-spending problem: which is that because the currency is digital it is open to being copied and spent more than once – something banks stop with physical currency.
However, the blockchain acts as a digital ledger, whereby every single transaction (called a block) is securely linked together using cryptography and encryption. It’s verifiable, available to everyone who owns Bitcoin and is immune to fraud and hacking – unlike centralised banks.
It enables one digital wallet (that can be stored on a phone) to directly connect with another securely and process a transaction.
If virtual currencies are so good, why are so many governments with the flea behind their ears? The Chinese government is embarking on a crusade against bitcoin. In India, the situation is not much different. There are other examples. Because?
The potential benefits of crypto-coins are real. Governments around the world are full of debt. Many of them will hardly be paid. Brazil( My country) is not an isolated case. Europe has a very serious social security problem. Governments promised worlds and funds. But their populations are aging. And, at the same time, fertility is falling. The account will not close.
What does a government do when it does not have the money to pay? Sell tomorrow’s lunch to pay for today’s dinner. Some governments have been able to play this game for decades. So the scheme is so attractive.
For governments that manage to issue debt in their own currency, gambling is even more interesting. If or when investors are unwilling to hold public debt securities in the portfolio until their maturity, these governments that take debt in their own currency may call for creative mechanisms to “monetize” debt.
To “monetize” public debt, the key is to give liquidity and certainty attributes that equate government bonds with monetary instruments. For example, governments do this with funds from the Money Market. The key is always to find ways to get people to use government bonds as “money.”
But there comes a time when lenders lose confidence and stop rolling over debt. What’s up?
Here governments can issue money directly. They can finance their debt with monetary printing. It’s a default of a different kind. The trick is inflation. Today, you have $ 100 in your wallet. With that money, buy ten packets of a wafer. If the price of the wafer package doubles, you will still have $ 100 in the wallet. But your buying power will fall by half.
What if you have a government debt bond instead of a $ 100 bill (or deposit)? In developed countries, government debt is not indexed. So inflation works, solve the problem of the Treasury.
But in others (as in Brazil), there may be indexation. Then the government bond will pay inflation for the period + x%. How to pay off this debt? It is only passing a law changing the rule of correction of the titles. Or make a compulsory loan. Or freeze deposits. Or make a board. There will always be a cunning economist and a good talk advocate to wrap the fish. And it’s not just in Brazil!
This is where the magic of cryptos begins to function. If people use bitcoins, instead of the state currency, the government can not “tax” them or give a “default” through the inflation “tax”. State tricks do not work with bitcoin.
This is the first reason why having crypto-coins may be a good idea: it is insurance against government insolvency. Since the world is a world, governments break down periodically (especially after losing a war – more on the subject, below). Having crypto (especially a bitcoin type crypto), as well as having physical gold, is insurance against state insolvency.
But the advantages of cryptos exist not only for moments of catastrophe or crisis. Cryptos have advantages also in times of normality. They are, in principle, safer and cheaper than other forms of payment.
Crypto operations cannot be undone. You are not at risk of having your credit card cloned. The transactions are settled immediately in the blockchain. There are no fees. And it is possible to implement smart contracts schemes that better lubricate human collaboration. Wonderful!
There is more: today there are more than 2 billion people with access to the internet or smartphones. And the number just grows. The advantages of crypto-coins are then extended to all this sea of people! And it is possible to include – banking, bring into the 21st century – an even larger contingent of people. Is not it great?
In the view of governments, it may not be. There are four main challenges: monetary policy, taxation, exchange, and systemic risk.
1 –
Monetary policy. Without a national currency, in times of crisis, the government can not finance its debt via monetary printing. Imagine a farm minister from a country where the money is lacking for everything. If things get too tight, there’s only one way: to get the mint gang to work … But if people’s savings are in bitcoin, that old technique will not work!
In case of war, the impossibility of using monetary printing can have a dramatic dimension. Historically, warring governments have had to print money because it is never possible to raise taxation too quickly in too short a time. It is good to sow peace in the world. But from the point of view of national states, monetary printing has always been seen as a dimension of national sovereignty to deal with external aggression.
2-
Taxation. Modern governments are brutal spenders. You may think this is good – after all, the state of social well-being is expensive but it delivers health, education, transportation … Well, in Brazil it’s not quite like that. In international comparison, our state spends a lot, and it spends very badly. But let us leave this Brazilian “detail” aside. The fact is that governments of social welfare are expensive.
Well, how to pay the bill? A party may eventually be thrown into the lap of future generations via state indebtedness. But the bulk has to come from today’s taxation. It is here that the crypto-coins put the rulers of hairs on their feet. Crypto-coins can make it difficult for state taxation. Mainly because they can be used to launder money.
Post image
Some say that this type of problem can be remedied with measures such as those recently adopted by the Federal Revenue Service. Globally, the Libra of Facebook, when it comes to work, will have to facilitate the tracking of the identity of the holders of Libras. Will it work? Can be. Time will tell. But the fact is that governments are animals hungry for people’s resources. It’s hard to hold them.
3 –
Exchange. The exchange rate, after the basic interest, is the main price in an economy. To value it, devalue it, revalue it, this is the breadwinner of many government economists around the world. (A joke says that the exchange was invented to humiliate economists because controlling it and predicting its fluctuations is so difficult.) But the fact is that the implementation of all these challenging activities is easier as long as the state currency is used by all. What if she is not?
Notice that in Brazil we have exchange controls. It is no longer the madness of the military time, when even to buy dollars to go to Bariloche with the family on vacation the Brazilian citizen had to make guts to buy the rationed currency … And everyone ended up in a doleiro. Things have changed. But there are still various controls and barriers. Will, the government gives them up?
4 –
Systemic risk. This problem is more subtle and the analysis depends on the type of cryptocurrency. Think of the Libra (in the case of bitcoin the analysis would be quite different). This is a stable coin managed by Facebook. From what has been announced, the Pound will work with full ballast. That is, Facebook will create a Pound only when it receives the corresponding state currency. Very good.
But the problem is that the settlement of Libras operations will have to be done through digital wallets. Will these digital wallets work like banks? Will they resolve to give credit based on the floating of deposits received? If this happens, the systemic risk focus that is on banks today will simply migrate to digital wallets. What if digital wallets break: who will bail them out? The Seventh Cavalry?
Source: My official steemit and Website.
http://mundodascriptos.online/index.php/2019/08/28/we-know-that-cryptocurrencies-are-so-good-so-why-are-so-many-governments-dont-like-it/
https://steemit.com/steemleo/@phabulu/we-know-that-cryptocurrencies-are-so-good-so-why-are-so-many-governments-don-t-like-it
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The topic is good, but there is too much text and hardly anyone will read it to the end.
As for cryptocurrency, it is really good for people, not for governments. It's not even that it cannot recover taxes from activities in cryptocurrency. Such taxes are successfully applied in Japan and other countries. The government cannot control a decentralized cryptocurrency and this is the most important thing.
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many governments don"t like cryptocurrency due to its decentraalize nature and they cant be able to control. if they will implement cryptocurrency, how ill they be able to collect taxes and the currency will depreciate too
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In my own opinion based on the issue of government not liking cryptocurrency despite how good it is, I can say that most of the decision making body don't really want some people to have money more than them. That's why they dont like cryptocurrency.
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In my country, cryptocurrency cannot be used for payments, but the government does not forbid people to have Bitcoin or altcoin for investment.
The government has regulations that they cannot change quickly, traditional banks have many problems such as transparency of transactions between fellow bank accounts and the government still needs funds from traditional banks for every infrastructure development project as then banks will become guarantors when they need money.
therefore the government will always say, crypto cannot be used for payment due to fluctuating prices, but they will continue to recognize the blockchain as a very good technology for recording data systems of all transactions that can be accessed by everyone around the world
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We all know why many governments do not want to legalize cryptocurrencies, namely because cryptocurrency transactions are not tracked and too much black money goes through cryptocurrencies, but maybe in future governments will do something with it and will find ways to deal with dirty money.
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The reason government is not crazy about crypto is that it can't be controlled. Anyone can transfer any amount of money anonymosly. And there is nothing they can do about it.
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The government can't collect taxes because of the decentralized operation. Further, many says crypto currency can be use for illegal activities. Whatever it is, government is not really a big fan of this system.
The adoption was not that widely spread all over the globe and still many people don't know the existence of cryptocurrency. Maybe, time will come things will turn differently and government will use block chain.
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Let’s start this discussion again.
we know that cryptocurrencies are so good, so why are so many governments don’t like it?
If people use bitcoins, instead of the state currency, the government can not “tax” them or give a “value” through the inflation “tax”
The key to its success is something called the blockchain. The blockchain is a means of solving the double-spending problem: which is that because the currency is digital it is open to being copied and spent more than once – something banks stop with physical currency.
However, the blockchain acts as a digital ledger, whereby every single transaction (called a block) is securely linked together using cryptography and encryption. It’s verifiable, available to everyone who owns Bitcoin and is immune to fraud and hacking – unlike centralised banks.
It enables one digital wallet (that can be stored on a phone) to directly connect with another securely and process a transaction.
If virtual currencies are so good, why are so many governments with the flea behind their ears? The Chinese government is embarking on a crusade against bitcoin. In India, the situation is not much different. There are other examples. Because?
The potential benefits of crypto-coins are real. Governments around the world are full of debt. Many of them will hardly be paid. Brazil( My country) is not an isolated case. Europe has a very serious social security problem. Governments promised worlds and funds. But their populations are aging. And, at the same time, fertility is falling. The account will not close.
What does a government do when it does not have the money to pay? Sell tomorrow’s lunch to pay for today’s dinner. Some governments have been able to play this game for decades. So the scheme is so attractive.
For governments that manage to issue debt in their own currency, gambling is even more interesting. If or when investors are unwilling to hold public debt securities in the portfolio until their maturity, these governments that take debt in their own currency may call for creative mechanisms to “monetize” debt.
To “monetize” public debt, the key is to give liquidity and certainty attributes that equate government bonds with monetary instruments. For example, governments do this with funds from the Money Market. The key is always to find ways to get people to use government bonds as “money.”
But there comes a time when lenders lose confidence and stop rolling over debt. What’s up?
Here governments can issue money directly. They can finance their debt with monetary printing. It’s a default of a different kind. The trick is inflation. Today, you have $ 100 in your wallet. With that money, buy ten packets of a wafer. If the price of the wafer package doubles, you will still have $ 100 in the wallet. But your buying power will fall by half.
What if you have a government debt bond instead of a $ 100 bill (or deposit)? In developed countries, government debt is not indexed. So inflation works, solve the problem of the Treasury.
But in others (as in Brazil), there may be indexation. Then the government bond will pay inflation for the period + x%. How to pay off this debt? It is only passing a law changing the rule of correction of the titles. Or make a compulsory loan. Or freeze deposits. Or make a board. There will always be a cunning economist and a good talk advocate to wrap the fish. And it’s not just in Brazil!
This is where the magic of cryptos begins to function. If people use bitcoins, instead of the state currency, the government can not “tax” them or give a “default” through the inflation “tax”. State tricks do not work with bitcoin.
This is the first reason why having crypto-coins may be a good idea: it is insurance against government insolvency. Since the world is a world, governments break down periodically (especially after losing a war – more on the subject, below). Having crypto (especially a bitcoin type crypto), as well as having physical gold, is insurance against state insolvency.
But the advantages of cryptos exist not only for moments of catastrophe or crisis. Cryptos have advantages also in times of normality. They are, in principle, safer and cheaper than other forms of payment.
Crypto operations cannot be undone. You are not at risk of having your credit card cloned. The transactions are settled immediately in the blockchain. There are no fees. And it is possible to implement smart contracts schemes that better lubricate human collaboration. Wonderful!
There is more: today there are more than 2 billion people with access to the internet or smartphones. And the number just grows. The advantages of crypto-coins are then extended to all this sea of people! And it is possible to include – banking, bring into the 21st century – an even larger contingent of people. Is not it great?
In the view of governments, it may not be. There are four main challenges: monetary policy, taxation, exchange, and systemic risk.
1 –
Monetary policy. Without a national currency, in times of crisis, the government can not finance its debt via monetary printing. Imagine a farm minister from a country where the money is lacking for everything. If things get too tight, there’s only one way: to get the mint gang to work … But if people’s savings are in bitcoin, that old technique will not work!
In case of war, the impossibility of using monetary printing can have a dramatic dimension. Historically, warring governments have had to print money because it is never possible to raise taxation too quickly in too short a time. It is good to sow peace in the world. But from the point of view of national states, monetary printing has always been seen as a dimension of national sovereignty to deal with external aggression.
2-
Taxation. Modern governments are brutal spenders. You may think this is good – after all, the state of social well-being is expensive but it delivers health, education, transportation … Well, in Brazil it’s not quite like that. In international comparison, our state spends a lot, and it spends very badly. But let us leave this Brazilian “detail” aside. The fact is that governments of social welfare are expensive.
Well, how to pay the bill? A party may eventually be thrown into the lap of future generations via state indebtedness. But the bulk has to come from today’s taxation. It is here that the crypto-coins put the rulers of hairs on their feet. Crypto-coins can make it difficult for state taxation. Mainly because they can be used to launder money.
Post image
Some say that this type of problem can be remedied with measures such as those recently adopted by the Federal Revenue Service. Globally, the Libra of Facebook, when it comes to work, will have to facilitate the tracking of the identity of the holders of Libras. Will it work? Can be. Time will tell. But the fact is that governments are animals hungry for people’s resources. It’s hard to hold them.
3 –
Exchange. The exchange rate, after the basic interest, is the main price in an economy. To value it, devalue it, revalue it, this is the breadwinner of many government economists around the world. (A joke says that the exchange was invented to humiliate economists because controlling it and predicting its fluctuations is so difficult.) But the fact is that the implementation of all these challenging activities is easier as long as the state currency is used by all. What if she is not?
Notice that in Brazil we have exchange controls. It is no longer the madness of the military time, when even to buy dollars to go to Bariloche with the family on vacation the Brazilian citizen had to make guts to buy the rationed currency … And everyone ended up in a doleiro. Things have changed. But there are still various controls and barriers. Will, the government gives them up?
4 –
Systemic risk. This problem is more subtle and the analysis depends on the type of cryptocurrency. Think of the Libra (in the case of bitcoin the analysis would be quite different). This is a stable coin managed by Facebook. From what has been announced, the Pound will work with full ballast. That is, Facebook will create a Pound only when it receives the corresponding state currency. Very good.
But the problem is that the settlement of Libras operations will have to be done through digital wallets. Will these digital wallets work like banks? Will they resolve to give credit based on the floating of deposits received? If this happens, the systemic risk focus that is on banks today will simply migrate to digital wallets. What if digital wallets break: who will bail them out? The Seventh Cavalry?
Source: My official steemit and Website.
http://mundodascriptos.online/index.php/2019/08/28/we-know-that-cryptocurrencies-are-so-good-so-why-are-so-many-governments-dont-like-it/
https://steemit.com/steemleo/@phabulu/we-know-that-cryptocurrencies-are-so-good-so-why-are-so-many-governments-don-t-like-it
The only good thing about cryptocurrency is the technology and its application, But still theres so many flaws in the crypto industry that needs to be solve before it was accepted globally I think thats the mean reason why other governments are againts the unregulated cryptocurrency related business, including those written reasons above.
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The only good thing about cryptocurrency is the technology and its application, But still theres so many flaws in the crypto industry that needs to be solve before it was accepted globally I think thats the mean reason why other governments are againts the unregulated cryptocurrency related business, including those written reasons above.
The system that the bank has is weaker than crypto, I say this because there are some big banks that go bankrupt but not published to the public media, the government has many members who can regulate the country's financial system and I'm sure many members who want to get benefits during their tenure by doing corruption in several new projects.
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The governments have several reasons to not legalize or don't like cryptocurrencies. Some governments don't want to have high risks with the volatility and anonymity of crypto. Others think cryptocurrencies may threaten national finance or be the media for money laundering. While the rest may have regulations that cannot allow crypto to be adopted in a country.
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The essence of that is that every bank is state-owned / government-owned, because every country has its own currency.
Cryptocurrency is very influential in the use of fiat money. Cryptocurrency can be saved without going through intermediaries such as banks, provided that having an internet connection cryptocurrency can be transferred. Very true if cryptocurrency is a barrier to state taxes, and an economic obstacle for people who have banks, but it is useful for ordinary people.
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Government isn't really dont like crypto, its just that taxation cannot be imposed like what the government doing on some financial institution such as business and bank. There are laws that stipulated on the government regarding this, hence on crypto it is not yet build that's why they are very hesitant. Also, crypto created in a decentralized manner so I think there will be a huge dispute regarding this matter and will take time to process.
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The reason government is not crazy about crypto is that it can't be controlled. Anyone can transfer any amount of money anonymosly. And there is nothing they can do about it.
Yes, in general this is true. However, a decentralized cryptocurrency also has very great volatility and can in no way be connected with the economy of any state. Therefore, cryptocurrency can go in society only along with the national money of states. Cryptocurrency so far is good only for people, but not for the state. It continues to develop rapidly and so far no one can say where its further development will lead.
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~snip~
I think there is no problem with taxation, it still can be applied and the user identity must be detected in a certain way. The problems are likely in regulation, volatility, and possible risks to happen like money-laundering. Some countries have the regulation to legalize only their national currency for payment tools. Moreover, crypto coins are very volatile, it is not really safe to use for payment purposes.
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This decentralized cryptocurrency is the main reason why many governments don't like it. Because the government will not be able to control and supervise the perpetrators of Cryptocurrency who carry out activities here. But I am of the opinion that in the future more governments will accept Cryptocurrency in many countries.
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Let’s start this discussion again.
snip ~
You should shorten the results of the site you provide below. In my personal opinion (because I didn't read your statement), why does the government reject cryptocurrency or rather blockchain, because of tax issues. Assets that we save must be taxed. Therefore, it is possible for some people to hide their assets in cryptocurrency, so that their many assets cannot be traced.
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Many countries governments don't accept cryptocurrency because they don't control bitcoin over fiat money. Their banking system don't allow cryptocurrency Due to money laundering via cryptocurrency. But some another issue is government don't get any benifits from cryptocurrency.
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On what country do government hated cryptocurrency? in our country it is fully welcome and is being used by many of my fellow countrymen without any restriction, it might be hated by some governments because they are not being regulated yet in their country hence will not be any helpful in the growth of a country.
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On what country do government hated cryptocurrency? in our country it is fully welcome and is being used by many of my fellow countrymen without any restriction, it might be hated by some governments because they are not being regulated yet in their country hence will not be any helpful in the growth of a country.
Just so you know, there are still some countries that still prohibit cryptocurrency. Especially in 2018, China was the one that banned bitcoin that year. But for now, it's starting to open to cryptocurrency. The state also prohibits crypto because it is feared that fiat money will not be in demand / there is more digital money circulation than fiat money.
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The only answer to this thread is when the government does not like fluctuating prices that are unclear and uncertain.
The state and the government certainly do not want a group of people to suffer losses due to those caused, as has happened to altcoins that ended with SCAM.
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Many government banned currency due to its decentralized Nature. And the other reason is tax.
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If you begin to look at some certain reason why government don't like cryptocurrecy there are many key factors that can lead to that, for me I think the government like cryptocurrency because it has giving people opportunity to have access to money both the average man and the rich so they want people that will compete with them when it comes to money issues.
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All cryptocurrencies are decentralized peer to peer payment network.This basically means that they isn't controlled by any government, making it virtually untraceable.I think that's the main reason.
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Some coins can be printed without restrictions. No regulator would like that.
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Cryptocurrency is good for individuals. For states, its too great price volatility and partial uncontrolled financial flows create insurmountable obstacles to its practical use. Therefore, it is hardly worth expecting that in the future, states will use a decentralized cryptocurrency. We see that they are now actively starting to create their national stable coins, which will, apparently, become the main form of cryptocurrency use by states.
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Nobody has control over cryptocurrency, its value is also not stable, so some governments do not like it. The second reason may be that the government also has to take care of the interests of the people, there is also a fear of being deceived with people in cryptocurrency.
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If the demand for cryptocurrencies will be the same in the future, and most likely the demand for cryptocurrencies will gradually grow, and then in the future I think there will be no way for governments to start regulating cryptocurrencies and there will be legalization around the world.
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decentralization and anonymous, two things that the government dislikes very much. so it's not normal if until now the government hates crypto especially bitcoin. even if in the future the government adopts the blockchain, I doubt that bitcoin will also be accepted. as long as crypto is still decentralized and anonymous, don't expect the government to accept crypto.
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Many countries governments don't accept cryptocurrency because they don't control the money laundering and their banking system don't allow cryptocurrency as their trading standards.
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Crypto is more or less a loose cannon: its good but can easily be converted into something bad. And of course, due to its decentralization and non control, some bad characters have used it for terrorism, drug business etc. And so central governments cannot touch it with long poles
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Who told you some governments don't like cryptocurrency? They are only taking their time to to get use to the technology. You really don't expect them to just jump into what anything they see
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The government is afraid of not being able to control Cryptocurrency if they accept Cryptocurrency, decentralized Cryptocurrency is feared that it will be used for things that are not true for example money laundering.
Therefore many governments have not been able to accept this Crypto, but I believe in the future more and more countries will adopt Cryptocurrency as a legal payment tool. Because Cryptocurrency is a modern payment tool that is safe and easy.
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Your question already has an answer.
Due to the fact that there are so many advantages in cryptocurrencies, governments do not want to allow cryptocurrencies in widespread use.
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For me what I think the reason why the government don't want cryptocurrency is because it may disrupt the financial system and the government don't want the younger generation to have access to money they want us to totally depend on their own way of doing things.
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I think the government can tax crypto currencies. If you want to sell your crypto currency and withdraw money on the card, then when the money comes to your card, the bank will know where they came from. This way the government can charge you taxes. I will not say that the governments of many leading countries against crypto currencies and bitcoin. If they were against, they would be fighting against crypto currency. And we see the opposite of introducing different laws to adopt crypto currencies. We see how futures and options for bitcoin are traded on CME. I think crypto currencies are moving in the right direction and governments are too
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Besides tax, I think it because of the status or legality of crypto. Crypto is still illegal in many countries and some governments don't allow it to use in their countries. They don't want to see the negative impacts of crypto on their citizens. And the governments probably don't know in detail about crypto.
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almost all countries disagree with crypto because of its decentralized nature where the government has difficulty controlling the rate of money coming in and going out, but if they apply with taxes they might be able to see the flow from which their money is,
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In the reality of life, one of the reason why the government will never support cryptocurrency is because they don't want you to have access to money, especially the younger generation, the government want people to depend on them.
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Crypto is decentralized so government wouldn't want something they can't control or something they won't be able to gain profit from. They won't be able to track every transaction and probably won't be able to tax it so they are against it.
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Governments love tracking us. They love earning more from our money, they love using our money. With the current cryptocurrencies it makes it harder for the governments to track our transaction, it is safer for us to transfer money. So they loose control which freaks them out.
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I think the reason is that, the government lacks knowledge about cryptocurrency, about its effect and use cases. 2nd, it is to avoid anonymous transactions that will be used by the drug cartel or syndicate or to avoid the anti money laundering law and lastly, they have so much faith in their fiat currency wich is back up by gold.
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Simply, they may not want that their country has an unstable financial system. Moreover, the crypto holder is commonly free from the task, so they will not get the money from the crypto world. Many countries also have some issues with the crypto world such as negative issues about banning crypto, using crypto for money laundry, terrorist, drug transaction, and many others.
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Cryptocurrency are good and beneficial to invest but some government hate bitcoin because they don't get any fees or tax in bitcoin and Ethereum. Central Bank are hate bitcoin due to the money laundering. Some development countries stopped to use bitcoin due to unsocial activities.
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If there is no tax there is no equal distribution of other citizens who do not have income.
All countries must have taxpayers for the welfare of their people, so that is why cryptocurrency is adversely or disliked by the government.
Many other considerations are in addition to cryptocurrency, for example illegal fishing can also be opposed by the government because fishing is incorrect with the country's law.
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Cryptocurrency is good from the point of view of people. It gives them relative anonymity and financial freedom. However, for states and their governments, cryptocurrency does more harm than good. In any case, it creates a lot of problems for them. Therefore, governments can only allow the circulation of cryptocurrency on their territory under the pressure of people, but they will never actively support it.
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Cryptocurrency is good but many countries governments don't accept cryptocurrency because they are not able to control cryptocurrency market cap due to unsocial activities. Only some development countries are able to control it. We are waiting for our government support but nothing can get good news from government agencies.
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I think the reason is political issues and security purposes. Since many people state that crypto is not safe and related to money laundering, then the governments respond to it with the refusal of crypto. But yes, some countries already accept it and have no problems with it.
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the goverments usualy hates
something they could not control , and that is cryptocurrency,
they will not be taxed nor will they prevent the people from looking at it , like in my country !