Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: princessgirl on September 27, 2018, 03:08:17 AM
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One of the main reasons behind the ban of cryptocurrency in most countries is because it cannot be regulated. Most governments see crypto to be deceiving the people and does not give any assurance after investing in it. It cannot be considered as security, hence the governments cannot fully back it.
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If anyone prohibits cryptocurrency in a country. So there must be a very strong reason there, I don't know the exact reason, but most likely the difficulty of financial supervision in the cryptocurrency caused a country to ban it. Because the decentralization system used by the cryptocurrency is not easy to monitor and is very vulnerable to crime. That possibility makes certain countries prohibit it.
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Besides being unmanageable, the government's ban on cryptocurrency is because it is feared that it will become one of the roots of crime. For example, such as money laundering, terrorist financing or for illegal activities.
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Since cryptocurrency is decentralized, governments should not regulate it. There are many reasons behind the ban of cryptocurrency. It is not only about it cannot be regulated, I guess the governments have a political interest. Maybe some politicians in a government has secret investment, they don't want to compete with more people. I am curious about this.
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Banning the use of crypto is happening in my country. In this case, the Government does not want to suffer losses because of it. The Government gave the reason that will happen with money laundering and the technology can be used to finance the terorris. The Government certainly does not want that to happen. So they ban the crypto for use.
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so many negative news about cryptocurrency is one reason why the government bans cryptocurrency. but I think it all depends on how people use it. many people are successful in it too. therefore, we must be patient and careful.
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the government must have a reason why it prohibits crypto currency in its country, perhaps the main reason is the price of crypto currency which is constantly changing and dangerous for the economy
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Another reason for the ban is that people tend to abuse the advantages of crypto. Some would use it to avoid paying income taxes.
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The reasons is not only from what you have said above. The first one is a country has a set of laws to to regulate investment and finance. Cryptocurrency does not meet the requirements as stated in the laws. And the second one, there are some people who hate crypto and they have a specific purpose to reject it.
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Some countries does not really know what is going on in cryptocurrency, so their reason must be implied . Also, cryptocurrency getting famous nowadays then what if people will withdrawn their money from banks then they will be a bank run and they are avoiding this to happen.
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usually that is the reason why this cryptocurrency is often banned because this cryptocurrency may have an unstable price so that it makes the price very terrible if used for transactions.