Why BTC is Banned?

[Azaleea]

As there are a lot of reasons for the BTC banned in most of the world countries but the main reason is Anonymity which for crypto users is considered an advantage and that's why they use it. Government can't be able to track/trace the crypto users and their transactions and that's why they are not allowing it to be used as legal.

The average government in the world wants to control the financial system in their country. As for bitcoin, the system is integrated so that it cannot be controlled or intervened by any government. This may be the reason some countries have not given the green light. But I think your topic title is too extreme

[msz900]

The average government in the world wants to control the financial system in their country. As for bitcoin, the system is integrated so that it cannot be controlled or intervened by any government. This may be the reason some countries have not given the green light. But I think your topic title is too extreme

Yes, I agree, and that the main reason I think that they are not allowing BTC to be legal. If the government did not make it leagl then users will use it illegally(in terms of permission).

[ayatoslaw]

I think BTC is still free and not prohibited in many countries, because the government can still see every bitcoin transaction but you can't really know who owns it,
the problem is the privacy coin, you can only see the transactions made, but you can not see the amount or even the wallet address, this is the reason privacy coins are rejected in many countries even in some large exchanges like Bittrex.

[Malam90]

Government  think Bitcoin illegal for various reasons-
Government can't control over Bitcoin transactions or they can't track the users.
It increase money laundering.
It is used in illegal purposes. (Some incident already happens).
Government deprives of taxes form here.
Bitcoin and cryptocurrency isn't beneficial to the national economy. etc

[Master107]

The culture of Bitcoin investment is far different from centralized investment such as banks, real state, life insurance. They pay tax actually.

Bitcoin should pay huge tax once it is govern by the authorities which I think the government is after. Volatility and anonymous system is not I guess the very issue but the tax.

One thing is also possible is the government wants to track criminals through Bitcoin. So they are working hard to control Bitcoin.

Why banned? Because of hidden agendas from administrations (imo). Maybe they want to protect the community or they don't want Bitcoin because they are not in control to the system.

[Azaleea]

The average government in the world wants to control the financial system in their country. As for bitcoin, the system is integrated so that it cannot be controlled or intervened by any government. This may be the reason some countries have not given the green light. But I think your topic title is too extreme

Yes, I agree, and that the main reason I think that they are not allowing BTC to be legal. If the government did not make it leagl then users will use it illegally(in terms of permission).

For users, it doesn't matter whether bitcoin is considered official or not. The important thing is that he can use it for profitable transactions. Moreover, legally it does not harm the local government

[Willitivity1]

Well spoken mate, anonmity and decentralization is the main reason why the government is against any thing cryptocurrency, since they won't be able to keep track of the transactions made by their citizens, not just that bitcoin can get into the hands of fraudsters who would still money and hide it in bitcoin since the government will not be able to find or be able to trace it back to them,so to avoid such from happening the government decided to prohibit bitcoin within the country.

[Magepai]

We all know that there is no need for a third party in Bitcoin transactions. That is why the government does not have to pay any tax, which is the main reason for not legalizing bitcoin. Many times we have seen that many kidnappers kidnap someone and demand bitcoin. There is no need for third parties to transact through Bitcoin so they could not commit criminal acts independently. This may be the main reason for not giving bitcoin legitimacy

[bayiajaib]

As there are a lot of reasons for the BTC banned in most of the world countries but the main reason is Anonymity which for crypto users is considered an advantage and that's why they use it. Government can't be able to track/trace the crypto users and their transactions and that's why they are not allowing it to be used as legal.

Yes, And think the reason why bitcoin banned at several countries because anonymity. Bitcoin is untraceable and cannot be tracking. But I think the government should be accepted bitcoin technology for their future.

[Black ID]

Many countries have not been able to fully accept Bitcoin. However, I think more and more countries are finally accepting Bitcoin. They are banned only temporarily, if you see other countries succeed with Bitcoin, of course, you will change your mind.

[bitbit97]

I think that topic starter is a bit wrong with "Government can't be able to track/trace the crypto users and their transactions" being the reason of Bitcoin being banned. Government ban Bitcoin because they can not track and trace your income from Bitcoin trades. They can not trace the amount of income tax Bitcoin trader should pay. But, they dont really care if you make 1 or million transactions. You can trade, send, receive, play, do what ever you want. But when you convert crypto to fiat and get income from your trades - pay the tax please. That is what they can not control (and plan future budget).

[wxxyrqa]

Bitcoin allows people to keep their capital and savings out of the dirty hands of the government, which can rob its people by any means. In addition, national currencies are prone to inflation and the government, issuing large amounts of paper money, devalues the savings of citizens, and Bitcoin is safer in this regard.

[0t3p0t]

As there are a lot of reasons for the BTC banned in most of the world countries but the main reason is Anonymity which for crypto users is considered an advantage and that's why they use it. Government can't be able to track/trace the crypto users and their transactions and that's why they are not allowing it to be used as legal.

Your title is misleading mate kindly rephrase it.

About the topic, some other privacy coins has already been delisted by some exchanges and not Bitcoin. Bitcoin is government friendly I think because some countries even embrace it and adopted it as a new form of payment method or even accept it as an investment asset. There is nothing to worry about banning of Bitcoin because if ever it happens we can still use it in secrecy.

[Freemind]

I don't know if there will be any more updated list that talks about this topic (I haven't found it yet), if there is anyone, please leave a link here. The last one I found is this one, and it's pretty clear which countries "accept" it and which countries don't.

https://www.investopedia.com/articles/forex/041515/countries-where-bitcoin-legal-illegal.asp

[Herry]

Yes brother I agree with you. Yes Bitcoin is not recognized in many countries. One of the reasons is that this bitcoin user can be identified. Even Bitcoin cannot be controlled by a third party. Since Bitcoin transactions cannot be identified or traced. In that case the government can collect any kind of tax or revenue from them. Again, for these reasons, the crime rate of corruption may increase. That is why Bitcoin has not yet been recognized in many countries