Why crypto currency banned in your country?

[Jaephoenix]

I am from a top west african country and crypto was banned because the government sees it as a competitor to the currency, which is doing very poor and tanking against the dollar. Also they see it as a good money laundering means, even though there are other money laundering avenues they know about

[EluguHcman]

Most countries banned the flows of crytop currencies from their countries due to the lack of trust of the crypto currencies, so the governments of the countries immensely tends to protect their citizens from possible means of fraudulents without being traceable due to coins custodian measures.
Some countries are just being sentimental with the conciousness that crypto currencies might come to be massively adopted in their countries and devalues the usefulness of their fiats so to mentally, they tends to secure the value of their fiats.
And lastly, some of the governments whom banned crytop currencies into their countries are because there is no possible chances of them the government to decide or monitors how m individual investors goes about its own crypto investments with their expectations of taxation which the individuals has boycotted still based on the self custodian of the crypto currency.

[Coinmama7824]

Your nation's choice to ban cryptocurrency is truly regrettable; it appears to have been made with poor judgment and a lack of insight. Although cryptocurrency can be used to launder money, it can also be an effective tool for financial innovation and inclusiveness. It's unfortunate that the authorities are unable to recognize the advantages of cryptocurrency, as the prohibition is likely to hinder innovation and economic development in your nation.

[ariaryanto]

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.

Many countries prohibit the entry of cryptocurrencies into their countries because they think that cryptocurrencies will damage the value of their country and even their country's economy could be destroyed due to the input of cryptocurrencies. but what you say is true, most unemployed people are successful because they run a digital currency business so they can change their economy from before.

[TopT3ns]

Many countries prohibit the entry of cryptocurrencies into their countries because they think that cryptocurrencies will damage the value of their country and even their country's economy could be destroyed due to the input of cryptocurrencies. but what you say is true, most unemployed people are successful because they run a digital currency business so they can change their economy from before.

It seems that only a few countries do not allow their countries to use digital currencies such as cryptocurrency because each country has its own policies, which certainly differ from one country to another. Cryptocurrency is a digital currency that is difficult to regulate; therefore, not many countries grant permission to use cryptocurrency in their countries.

[joniboini]

I believe no cryptocurrency is banned in my country. One can argue that some exchange tokens like BNB are banned because their exchange is blocked if they don't have a registered office in the country, but as far as I can tell, local exchanges can freely trade them. No tokens are explicitly banned, but the government does release a list of safely tradable cryptocurrencies that need to be followed by any registered exchanges. This is good to limit exposure to low market cap/scam tokens, at least that's how they argue about it. I don't think there's any inconvenience following that regulation though since most of the low market cap tokens are not the priority for traders most of the time.

Many countries prohibit the entry of cryptocurrencies into their countries because they think that cryptocurrencies will damage the value of their country and even their country's economy could be destroyed due to the input of cryptocurrencies.

As far as I'm aware, most countries ban crypto as a means of payment, but people can trade it just like stocks. I don't think the number of countries that explicitly ban and will sentence people to jail because they own Bitcoin or other crypto is that many. CMIIW.

[gunhell16]

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.

Isn't cryptocurrency here in our country because somehow our government is open to digital technology, or blockchain? So I don't really know the real feeling. If I'm one of the crypto enthusiasts, then why is crypto in the country? Just like that situation, it's very difficult.

So their only solution in such a situation is to use a VPN, but it's still difficult, to be honest. Besides that, if the government of a country is really open to blockchain technology, it will really help their economy.

[DrBeer]

In my country, Ukraine, cryptocurrency is not prohibited, and there are no legal prohibitions. But there is no official status of cryocurrency, which gave rise to some misunderstanding of the prospects of this market. The adoption of laws regulating this topic, as well as issues related to the taxation of transactions with cryptocurrency, is planned for 2024. In the preliminary version, the taxation scheme is quite acceptable, as is the possibility of working with cryptocurrency as an investment asset. Yes, cryptocurrency is not accepted as a means of mutual settlements, which is quite logical, but alternative transactions with it are not prohibited. The year 2024 will finally regulate work in this segment

[Jaephoenix]

Well, crypto was previously banned in my country, a West African state. But it has now been lifted, and certain rules instituted, like banks cannot involve in crypto transactions themselves. And such transactions should be routed through the central body for regulations

[Geey]

Most countries prohibit the entry of cryptocurrencies because it will be detrimental to the country, but in my opinion the entry of cryptocurrencies in a country will increase the country's ecosystem and even accelerate the country's economic rise... true, most unemployed youth are successful by investing in cryptocurrencies but why? countries prohibit it so that if crypto currency enters a country it will reduce unemployment in that country.

[ariaryanto]

To become experienced investors, we must have more knowledge in the crypto world and even have a market community so that we know market movements. Each person is different in building their portfolio depending on their knowledge in this field and having skills in trading.

[Evgenklm]

Most often, the ban on cryptocurrency in certain countries is due to the country’s reluctance to change its traditional finances. Some banks are afraid of cryptocurrency, and also of decentralization and regulation. The issue of cryptocurrency bans in countries is always difficult. On the one hand, this may be an attempt to maintain control over finances and fight fraud. On the other hand, I have seen many examples where cryptocurrency has helped young entrepreneurs in countries with high unemployment.

[vs2014]

Many countries prohibit the entry of cryptocurrencies into their countries because they think that cryptocurrencies will damage the value of their country and even their country's economy could be destroyed due to the input of cryptocurrencies. but what you say is true, most unemployed people are successful because they run a digital currency business so they can change their economy from before.

It seems that only a few countries do not allow their countries to use digital currencies such as cryptocurrency because each country has its own policies, which certainly differ from one country to another. Cryptocurrency is a digital currency that is difficult to regulate; therefore, not many countries grant permission to use cryptocurrency in their countries.

I think they should allow the crypto market with a proper plan because it can really bring back balance of money supply for a country. As many unemployed people are able to earn money from crypto by trading, investing and other rationalizations. Based on their own principles t will also agree to approve it once in a while.

[therozaq]

Well, crypto was previously banned in my country, a West African state. But it has now been lifted, and certain rules instituted, like banks cannot involve in crypto transactions themselves. And such transactions should be routed through the central body for regulations

I think your government has a good policy for crypto currency.
What the reason your government ever banned crypto?
Maybe they don't know about crypto technology.
Crypto currency is the future technology, and we know no one can refuse the future.
So, I think they rethink..
In my country , crypto didn't banned but also didn't allow for payment method.
I think that's normal.
Because many companies didn't allow crypto currency yet, maybe at the coming years.

[Dr.Bitcoin_Strange]

My country is a crypto-friendly place, and as a matter of fact, the government didn't really pay any serious attention to crypto investors; every investor is at their own risk. In my country, there are a lot of Bitcoin investors, traders, and also most investors who are lovers of altcoins, and they usually buy low to sell high and make a cool profit. Cryptocurrencies have actually made some people increase their wealth because they invested in Bitcoin and some other altcoins that were able to give them a huge profit. As a matter of fact, during the first pump of Shiba Inu, I know of two crypto enthusiasts in my country who made a huge profit of more than $50,000. Also, there is a coin with the ticker "CHZ," which my friend made a huge profit from, and other tokens too. Most of these guys who made huge profits from crypto have become wealthier than before.