Why cryptocurrancy Can't be accepted By Countries?

[MoralStories 1127]

01. Intractable:-

As you can see the cryptocurrancy is not trackable that means the money is easy to use for illegal purpose and no one would be find guilty for that.

02. Tax Issues:-

As almost all the countries collect taxes on a lot of things including the salary and earning of a person so the government will not be able to collect taxes on the currency that is why It wouldn't be accepted.

What other reasons you can give ? 

[hani20980 2706]

Yeah both of this two reasons are behind the ban of cryptocurrencies in some countries especially

third world countries becuase they have very weak technolgy and they think that cryptocurrencies

may affect their economic

[joemcgwa 3227]

The reason thats makes countries to not accept cryptocurrencies would be because they believe that crypocurrencies might kill their national currencies.

[Adam adam 276]

Governments see digital currencies as insecure and high risk because prices are not fixed and only controlled by supply and demand.

[Francisco87 651]

On 11/27/2020 at 9:25 PM, MoralStories said:

01. Intractable:-

As you can see the cryptocurrancy is not trackable that means the money is easy to use for illegal purpose and no one would be find guilty for that.

02. Tax Issues:-

As almost all the countries collect taxes on a lot of things including the salary and earning of a person so the government will not be able to collect taxes on the currency that is why It wouldn't be accepted.

What other reasons you can give ? 

Yes, friend, these are the main reasons why some countries are against cryptocurrencies, but if you look at the amount that is in favor of them, it is much higher than those that are not, in addition, the main world economic powers have seen the potential of cryptocurrencies and their use...

[Yoanny 232]

The main reason is because it does not have control over the BTC, obviously all states its main objective is to have control over the operations of its citizens, by legalizing the use of bitcoin would give total financial freedom to each person. How could they, for example, freeze the financial resources of a certain person?

[estmerbol 257]

I could say the ease of access to this kind of money, without identification. In addition to the traditional banking power that would see their operations undermined by an alternative economy type, for them it is not convenient. Well we can only know in time how nations will have to see as they move forward in this direction. And soon we will see some nations launch their own tokens.

[Mubarak Salihu Ahmed 1350]

This reasons are behind why countries are restricting this digital currencies.it can be used as means of terrorism,illegality,money laundering and extortion of public wealth.and this in a nutshell would bring economic crisis and depression.

[saradz 2259]

@MoralStories    Among the reasons why Bitcoin and other currencies are rejected in some countries:

• There is no exchange that reflects the value of Bitcoin like the traditional currencies that gold is counterbalanced.
• Inflation in cryptocurrency prices.

 

[Syedbesharat 5423]

On 11/28/2020 at 7:25 AM, MoralStories said:

01. Intractable:-

As you can see the cryptocurrancy is not trackable that means the money is easy to use for illegal purpose and no one would be find guilty for that.

02. Tax Issues:-

As almost all the countries collect taxes on a lot of things including the salary and earning of a person so the government will not be able to collect taxes on the currency that is why It wouldn't be accepted.

What other reasons you can give ? 

This is the current situation but as crypto is progressing we can see development and this will be solve because the biggest argue for crypto acceptance from Government is they can't track the Crypto. But for tax many countries have implement the tax policies and they can easily collect through exchanges they just have to make policies and implement. Then the exchanges will have to pay the tax like fee of transaction. 

[mahdititus16 216]

brother i can tell you about that something good to understand just listen to me

This reasons are behind why countries are restricting this digital currencies.it can be used as means of terrorism,illegality,money laundering and extortion of public wealth.and this in a nutshell would bring economic crisis and depression.

i hope i answer to your question , so that all my information , good luck .

[Smallingcane012 344]

The reason why crypto currency can't be accept by countries is the is not all countries in the world that have access to register crypto talk.

[BrolySSJ 7899]

These are the two major reasons as to why crypto is not accepted by many countries, because if governments are not able to regulate the currency they will not be able to monitor its use or impose taxes on its use. I think that another reason that could possibly be added to this list is the lack of infrastructure in many countries. This type of currency relies heavily on technological advancements and internet connections, which may not be available to all regions within a country and therefore this can also serve as a hinderance in its implementation in that specific country. 

[M.bello 1015]

Hello everyone it could be accepted by other country because of hackers if is accepted they can easily get access to it and withdrawal people currency, if the government will approve it then security major should be taking for hackers not to get access to it

[Mansoor sumaan 29 0]

Yeah bro I completely agree to you most of the country are not allowing the cryptocurrency because they can't take tax by the cryptocurrency payments and billing. The other reason is that most of the developing countries don't understand the importance of the cryptocurrency and they even don't want that the cryptocurrency will replace the banking system so that's why they are also called developing countries. 

[Alexbhatti 1492]

Of course my friend, there are some countries who didn't accept the Cryptocurrencies yet. They might be have some fears to use it. I think some of them don't know the features of Cryptocurrencies properly, so they need to get a proper information about crypto. Tax rate is also a big fear for them as they think they have to paid a great tax to get money from outside of the world. But I hope, the Cryptocurrency will become a great currency accepted by all the world due to its unique features.

[tienda 8776]

I think the major reason why the government of countries are not accepting the cryptocurrency because of the NO trackable transaction. If they adopt it right now, it will not be easy to be monitored and not easy to exigent the tax, because there is not any way to identifier the transaction.

[pablomarwan 3082]

According to what was rumored to do. Taxes cannot be collected from them. They are also a means of trading on the black market. This is a dangerous matter. Because it could not be traced, of course. It is considered a source of risk because it fluctuates in price every time it changes either to a positive or negative side.

[Rubayed123 991]

Well you are absolutely right. Crypto currencies can be used for criminal activities as you can never keep track of the sender. And even the government can't use taxes on this currencies. Despite this we can't ignore that crypto currencies are making our daily lives better. 

[khan22 3478]

On 11/28/2020 at 7:25 AM, MoralStories said:

01. Intractable:-

As you can see the cryptocurrancy is not trackable that means the money is easy to use for illegal purpose and no one would be find guilty for that.

02. Tax Issues:-

As almost all the countries collect taxes on a lot of things including the salary and earning of a person so the government will not be able to collect taxes on the currency that is why It wouldn't be accepted.

What other reasons you can give ? 

The main issue is the Tax issue that the countries need that and the BTC owner satoshi nakamoto is a unknown person and that is the reason that the so many countries are not going to legal it.

[Roman Wickler 1021]

Yes you're right. In many country crypto currency is illegal . Because some people use it for crime or criminal activity. You can never track the sender. Government can't put taxes on it. So many country accept cryptocurrency. But you can't ignore that cryptocurrency help many people. 

[Linclon4 541]

Yes my friend the tow reason you said both are right and logical. I think government should take necessary steps to solve these problems ann make cryptocurrency legal. Because it is a profitable currency. 

[The shiekh 793]

Well there are some solid reasons behind this that the government of many countries have bit accepting these crypto currencies. Because in this way many people which have huge capital they will not pay taxes . 

And they will illegally store their amount easily. 

[Cryptic 0]

The number one worry of the government of some country especially to those who have not yet accepting the cryptocurrency, is due to its decentralized nature, meaning no single authority have control over it meaning it is easy to use for the illegal activities like selling of drugs and other activities in the black market, and since cryptocurrency makes our identity somehow anonymous then it would be hard for the authority to track the people who have committed a crime. 

[khan22 3478]

On 11/29/2020 at 7:03 PM, Jacobabram said:

They are really logical reasons, in addition to these reasons, and there are other reasons which are that the current financial systems are not suitable for working with cryptocurrencies, and this requires torpedoing these systems and setting up a system commensurate with the new technology, and this requires a long time, in addition to the unwillingness of these countries to set laws that legitimize their work.

Main issue is the tax paying if the BTC and also other coins will pay the tax than after that they will legal the coins but soon the crypto is going to be legal and the countries will make their own coin and that is stable and just peoples will use that in the countries.