Why crypto currency banned in your country?

[vegasus]

There are many countries where crypto currency is banned but what is the exact reason due to which the government of that country has to take such a harmful decision. Do you think crypto currency should be adopted and is it helping the economic development of any country? But i have seen many unemployed youths have found economic success through crypto currency.

In my country Indonesia, it doesn't matter what cryptocurrency is banned there. but more about government regulations for cryptocurrency and also all aspects related to this. because everything is regulated under the law and also the authority of one of the institutions in my country.

The regulation is that cryptocurrency is legal to be used as a commodity asset for investors or traders who want to trade or invest in cryptospace, but with risks borne by each of them. However, cryptocurrency is not permitted or considered illegal if used as a means of payment or as currency in this country. The reason is because this country only uses one legal currency as a means of payment, namely the Rupiah. So yes, just follow these regulations as long as crypto is still legal to use for investment and trading. What's important is apart from just using it as currency. It's just that if, for example, one day this is legalized, it would be better. Moreover, in this country many foreign tourists come to travel, so who knows, it could make things easier for them.

[gunhell16]

Cryptocurrency is not in our country because we have local exchanges here that accept cryptocurrency, although they are regulated by our government. although there is a little restriction right now in this industry in our country.

Although there are still many solutions, even if there is ever a ban on crypto in our country, that's why there isn't one because our country is crypto-friendly, and I am thankful for that anyway.

[LogitechMouse]

Cryptocurrency isn't banned in our country, and I don't think that the Government can ban it "completely".

I guess it's safe to say that in our country, the government doesn't pay that much attention when it comes to cryptocurrencies. They aren't imposing any sanctions, or regulations whatsoever. What they are doing is just giving us advice, and tips in order for our cryptocurrencies to be safe. Well, I wonder how the people who are living in a country where cryptocurrency is banned have access to crypto still. VPNs maybe? I mean how they can withdraw it still?

[0t3p0t]

There are many countries where crypto currency is banned but what is the exact reason due to which the government of that country has to take such a harmful decision. Do you think crypto currency should be adopted and is it helping the economic development of any country? But i have seen many unemployed youths have found economic success through crypto currency.

Based on my observation countries that banned Bitcoin or cryptocurrency as a whole see it as a threat to stability of their economy or the country itself as we all know most cryptocurrencies were decentralized and they have no control of it so they are afraid it will be used in fraud, funding terrorism, money laundering or other illegal activities.

[TopT3ns]

There are many countries where crypto currency is banned but what is the exact reason due to which the government of that country has to take such a harmful decision. Do you think crypto currency should be adopted and is it helping the economic development of any country? But i have seen many unemployed youths have found economic success through crypto currency.

Based on my observation countries that banned Bitcoin or cryptocurrency as a whole see it as a threat to stability of their economy or the country itself as we all know most cryptocurrencies were decentralized and they have no control of it so they are afraid it will be used in fraud, funding terrorism, money laundering or other illegal activities.

Of course, this will be a serious threat because you can see Bitcoin price movements that are unstable and have fallen to the bottom price from $40k down to $20k and become very cheap. Imagine if all the assets in all countries were in Bitcoin, then it would be The country will definitely be destroyed because Bitcoin price movements are currently controlled by the global elite, or people who have a lot of money who will have a big influence on Bitcoin price movements. So when a government decides not to use Bitcoin as a transaction tool, it is a pretty good choice to avoid the risk of unwanted bad things happening.

[IrynaInna]

As far as I can tell, the government of our country thinks that the possibility of money laundering through crypto currency is very high. Moreover, the cryptocurrency market is highly volatile. So the government thinks that if we invest then any time our investment money can become zero. And cryptocurrency transactions have no boundaries. He can make as many transactions as he wants. So the government will not be able to identify the transactor properly. So maybe the government of my country has banned cryptocurrency.

[aiviaa485]

Where I live in Cryptocurrency, it is not prohibited or Banned.
Instead it has a strong regulation because it is supported by the existing financial institution agency and received an audit of various financial services.
We also have local markets and are also supported by various private and government financial institutions but appropriately the government and financial services also have the character of DWYOR.
Why does the government continue to give Dwyor's appeal because the government already knows and understands the workings of cryptocurrency that is "decentralized", so the government cannot be touched if we lose our assets by our own mistakes.

[Vx1]

There are many countries where crypto currency is banned but what is the exact reason due to which the government of that country has to take such a harmful decision. Do you think crypto currency should be adopted and is it helping the economic development of any country? But i have seen many unemployed youths have found economic success through crypto currency.

Cryptocurrencies in my country are not completely prohibited, what is prohibited is carrying out direct transactions, for example buying goods and services which are not allowed here. 
But if we want to invest in cryptocurrencies and also trade cryptocurrencies on crypto exchanges we are free to do so here. 
Even the government provides tax rules for every cryptocurrency transaction on official exchanges in our country.

[summonerrk]

There are many countries where crypto currency is banned but what is the exact reason due to which the government of that country has to take such a harmful decision. Do you think crypto currency should be adopted and is it helping the economic development of any country? But i have seen many unemployed youths have found economic success through crypto currency.

I live simultaneously between two countries - my relatives are in one of them, and my wife is in the other. And the laws of these countries are very different. For example, in one of them the casino is legal, but in the other it is not. That’s the case with cryptocurrencies: in one country they are very well accepted by the state, you don’t have to pay taxes, there are incentives for opening cryptocurrency businesses, such as exchanges. But in another country, cryptomaniacs are persecuted, and if you say that you are a cryptomaniac, then they will betray you and take away everything that you have accumulated over the years. It's scary, but it's true.

[CryptoLaila]

In my country, we're kinda odd so we do some crazy things and undo it later maybe when there's a change of constituted authority of that particular  aspect. Crypto was banned at first in my country due to  no particular  reason probably fraud or illegal activities or selfish-interest but now its has been undo just like that and now much more free as it used to be

[UNIVERSE]

Is it banned?
No, it is not. It is legal, but the legality is limited only as comodity asset. It is exavtly illegal if we us crypto as payment method. Our country has its solid law about the currency used as payment in this country, only Rupiah. So, if we want to use crypto as payment, we must convert it at first to our country fiat. Except that we habe relatives or collega that accept using this coin but of course nobody else know about it.

[yohananaomi]

In my country, we're kinda odd so we do some crazy things and undo it later maybe when there's a change of constituted authority of that particular  aspect. Crypto was banned at first in my country due to  no particular  reason probably fraud or illegal activities or selfish-interest but now its has been undo just like that and now much more free as it used to be

Yes, we cannot know the policies implemented by the government, especially since policies can change with the change of power from one to another, so policies will certainly change too. Prohibitions are sometimes due to a government's unpreparedness in anticipating what will happen with technological advances, but it is certain that they will gradually be accepted because they cannot avoid these technological advances.
You are lucky, friend, that the current problem no longer occurs and you can accept its existence, because perhaps there are still many countries that still prohibit it.

[MUGNIA]

Cryptocurrencies in my country are not completely prohibited, what is prohibited is carrying out direct transactions, for example buying goods and services which are not allowed here. 
But if we want to invest in cryptocurrencies and also trade cryptocurrencies on crypto exchanges we are free to do so here. 
Even the government provides tax rules for every cryptocurrency transaction on official exchanges in our country.

Supposedly if the government provides tax regulations on crypto, it means the government recognizes the existence of crypto and should legalize all transactions with crypto and be ready to provide solutions if there are reports of fraud by fellow crypto users, and losses

[DaNNy001]

There are many countries where crypto currency is banned but what is the exact reason due to which the government of that country has to take such a harmful decision. Do you think crypto currency should be adopted and is it helping the economic development of any country? But i have seen many unemployed youths have found economic success through crypto currency.

My country would be a perfect example of this particular thought of yours, there are so many people that have benefited so much through the outburst of cryptocurrency to the world and Bitcoin being the particular coin. We all know that most government frawn at the use of cryptocurrency especially Bitcoin but and this also happened when the central bank of my country put a ban on other commercial bank but that didn't stop the Bitcoin and crypto enthusiast to stop using it so many other means were derived to successfully go about its use and enormous benefits to the whole financial system of the world.

[bayu7adi]

But i have seen many unemployed youths have found economic success through crypto currency.

It would be good if you gave examples of what kind of success you mean and how many young people have achieved it. If you mean income from trading or investing, limiting the use of cryptocurrencies seems to be enough to serve their needs. Yes, simply by regulating cryptocurrency like a commodity, that way the government can be friends with cryptocurrency.

As long as cryptocurrencies are still decentralized and are still associated with negative issues such as the darknet and so on, many countries are reluctant to take the risk of fully legalizing cryptocurrencies. People like freedom, but the government needs supervision. Something that will never be agreed upon.