Why government ban bitcoin

[Presh0351]

Do you think is because of the risk involved or bitcoin increases corruption..
What else

[Jaguar]

It depends to the people in the government and not the system. System is good but the people behind the system sometimes counterfeit whatsoever they think they can. Banning bitcoin have some valid instances to prevent whatever unnecessary.

[Presh0351]

In some cases... If the conditions you listed are met

[trons]

I think that the government forbids bitcoins because they are afraid that it will undermine the built economy based on fiat money. The more people will use crypto, the less will be used by fiat.

[marcsymons]

Do you think is because of the risk involved or bitcoin increases corruption..
What else

The most likely reason is the risk that involved in which these countries that against Bitcoin existence are afraid that Bitcoin might ruin their economy and the country. That it might use in illegal activities in which most common are money laundering, funding terrorism and scam investments. The good thing there are now only few that still against Bitcoin in which majority of these countries are now supporting Bitcoin due to regulation.

[Neechan]

That lack of central authority is the primary reason governments are afraid of the cryptocurrency. To understand this fear, It is important to know a little bit about governments and conventional currencies.

[comer]

Most government reason to ban cryptocurrency to their nation is that they are afraid of their people to loss and be a victim of so many scam. Because crypto is decentralized they don't have control over it.

[carcas]

It could happen if crypto does not control such as audit and rules about circulation and crypto transactions.

[owmivmen]

I think the only to limit the circulation of crypto in the world. I know investment crypto is at risk if not smart manage assets. but if the user crypto understand and can manage their assets, they will get a profit than crypto.

[BatBit]

Because the government doesn't like the financial structure and the cash flow that they can't control.

[laiya94]

The main reason is bitcoin is decentralized so governments can't take the control of bitcoins and some other say because due to volatile of bitcoin market.

[Osei Tawiah]

Because they see bitcoin as having no value due to to its volatile nature. There might be other factors but this is what I know so far.

[Master107]

The normal citizens fear about bitcoin because it pump high and dump very low. There is possibility that the profit will gone. The government have their own perspectives toward bitcoin. Of course they know what is best for their own view. So there are chance the government will allow or prohibit bitcoin for valid reasons.

[Niteroy]

Recently, the US government announced that anonymous cryptocurrencies threaten national security. Now the US Secret Service has recently requested Congress to tackle anonymous cryptocurrencies.
https://www.livebitcoinnews.com/us-secret-service-wants-anonymous-cryptocurrencies-tackled-by-congress/
In addition, Mastercard has won a number of patents related to the use of blockchain technology and I believe that all this is done in order to withdraw the cryptocurrency beyond the legal field and declare them illegal and begin to fight them.
https://www.ccn.com/mastercard-wins-patent-for-anonymous-blockchain-transactions/
Let's see what steps government regulators will take, but it is understandable that they do not like the decentralization of cryptocurrencies and the lack of levers of influence on them and their management.

[DiZEL]

You did not specify which countries are being discussed. In no civilized country bitcoin is not prohibited. Perhaps this phenomenon occurs in countries where the dictatorial regime rules, but it prohibits not only bitcoin, but elementary human rights.