Why crypto currency banned in your country?

[Cryptsafe]

In my country, Crypto currency is not banned but there used to be restrictions which was placed by the apex bank called the central bank restricting banks from carrying any transaction that is Crypto related in the country and also instructed the banks to fish out any account that is likely dealing on Crypto and Bitcoin for immediate actions but however,  the restrictions been lifted and banks can now deal on Crypto transactions but still then, people are still sceptical about the lifting of restrictions on crypto transaction as a trap meanwhile the government is looking at implementation of Crypto policy for crypto currency transactions in the country.

[doc]

In my country, Crypto currency is not banned but there used to be restrictions which was placed by the apex bank called the central bank restricting banks from carrying any transaction that is Crypto related in the country and also instructed the banks to fish out any account that is likely dealing on Crypto and Bitcoin for immediate actions but however,  the restrictions been lifted and banks can now deal on Crypto transactions but still then, people are still sceptical about the lifting of restrictions on crypto transaction as a trap meanwhile the government is looking at implementation of Crypto policy for crypto currency transactions in the country.

In my country, crypto isn't banned, same like in your country.
But crypto just for investment, the government restricted as payment  method.
At the past, I heard several countries ban crypto, but I think It's just temporary.
Because no one can refuse the technology.
As many people said crypto is the future technology.
I believe crypto will be more popular at the coming future.

[bhadz]

Crypto must be adopted to almost all countries. Here in my country, development is good if it is about. blockchain and cryptocurrencies. Binance is about to get banned and we have to rely on other international exchanges and as well as our local exchanges. However, cryptos are not banned here and we are happy about the policies about it and the competition of exchanges here is getting tighter and the government wants to push most of us to use local exchanges.

[Cryptsafe]

In my country, Crypto currency is not banned but there used to be restrictions which was placed by the apex bank called the central bank restricting banks from carrying any transaction that is Crypto related in the country and also instructed the banks to fish out any account that is likely dealing on Crypto and Bitcoin for immediate actions but however,  the restrictions been lifted and banks can now deal on Crypto transactions but still then, people are still sceptical about the lifting of restrictions on crypto transaction as a trap meanwhile the government is looking at implementation of Crypto policy for crypto currency transactions in the country.

In my country, crypto isn't banned, same like in your country.
But crypto just for investment, the government restricted as payment  method.
At the past, I heard several countries ban crypto, but I think It's just temporary.
Because no one can refuse the technology.
As many people said crypto is the future technology.
I believe crypto will be more popular at the coming future.

Crypto is the new technology that is yet to be tapped. It has it value and functionality in many ways which we can not comprehend. Countries banning it now would regret their actions in years to come for not taking advantage of it now.
My country has no restrictions on crypto any more because they have seen the value of it but as of now no organisation or business is accepting it for payment but p2p trading do exist and there trading of Crypto is more recognised than the normal banking system of trading of Crypto ie buying and selling of Crypto with payment made through the bank.

[Agbe]

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.

Till date there was no clear and if official statement that made by the government of my country to be cryptocurrencies I the country. But the ban came after the massive youth protest against police brutality with the # tag of endsars. And in the early part of December 2023 the government lift the ban of cryptocurrency and allow everyone to use it. So we expecting the full adoption of bitcoin in the country.

[legend45]

Crypto must be adopted to almost all countries. Here in my country, development is good if it is about. blockchain and cryptocurrencies. Binance is about to get banned and we have to rely on other international exchanges and as well as our local exchanges. However, cryptos are not banned here and we are happy about the policies about it and the competition of exchanges here is getting tighter and the government wants to push most of us to use local exchanges.

If I may ask, which country are you in?  why is bitcoin banned there?  restricted or banned.
iF binance has been banned, we can do transaction in other reputable exchange, such as Kucoin, Huobi, Lbank.
Block chain technology should be addopted.
In my country, on process.
Because the government didn't ban crypto currency.
It's good for us, As a crypto lover.

[Altcoin1998$]

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.

Crypto currency is illegal in my country and government is not taking any kind of challenging planning regarding the legality of crypto currency especially the political context of my country is not positive at all. Moreover, the Central Bank has no power to control Bitcoin on behalf of the Central Bank and the Government. Moreover, there is instability in the political environment of my country and there is a possibility that a large part of the country may be laundered by money laundering process through crypto currency. That is why my country's government is not making any positive comments or planning about the validity of Bitcoin, seeing such a distant future.

[Litzki1990]

The internal decision of the country usually rests with the country's government and if a country's government does not allow cryptocurrency in their country, there must be some reason behind it. Governments of some countries think that the economic condition of their country is not very strong, so if they allow crypto currency in their country, it may worsen the economic condition of their country. Governments of some countries think that if these things are approved, the people of their country will invest in all these platforms and their country's money will go out of the country. However, there are many poor countries that are involved in Bitcoin and cryptocurrencies and who are contributing to the economic development of their countries by being involved in Bitcoin. If the government of a country thinks well when it comes to making decisions about crypto currency, then the positive aspects of crypto currency will be more than the negative aspects.

[Primo1760]

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 are banned in most countries in the world, with only a handful of countries where cryptocurrencies are legal. One of the reasons why the government of my country does not legalize cryptocurrency is because the people of this country are less educated and my Bangladesh is a less developed country. If Bitcoin is legalized in this country, people will invest unknowingly and suffer. From my Bangladesh side, I always say that it is better not to legalize cryptocurrencies in this country because if cryptocurrencies are legalized in this country, the government and central bank of my country will not be able to control them. If it cannot be controlled then thousands of dollars will become black market from this country which will never be caught by anyone. Since people in my country are less educated, my country is less developed, money laundering is the most prone to happen from my country, political situation in my country is not good, considering everything, the government probably knows very well that if Bitcoin is legalized in this country, the government and the central bank will not be able to control it because of this. Bitcoin has been kept away from legalization in this country. But if we can work the way we are working then there will be no problem for us even if Bitcoin is not legalized.

[bounceback]

Not really care about bitcoin banned as payment currency transaction during in my country bitcoin have been legal as commodity assets, we are available for trading with local currency exchange have get regulation from government and not afraid when holding bitcoin or altcoin assets for long term. But can't acceptable with some countries bitcoin not only illegal as payment digital currency but also their government not allowed bitcoin as commodity assets.
Difficult position for us make cryptocurrency as investment assets for trading or holding when government not allowed as legal commodity assets, not easy how to withdraw and make deposit fund when government restrict bitcoin as legal payment currency transaction or commodity assets.

[CryptoLaila]

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.

You're  are writing Interm of how a normal government behaves but I was talking about a country who does  thing such as policies without any reason or benefit to the majority either than a self interest  focus, but as you've said they will be left with no choice  than accepting the fact that the technology  is here!!! and there's  nothing they can do about it than to adapt