Why cryptocurrancy Can't be accepted By Countries?

[bogdanoff 3173]

I don't think these are reasons, Bitcoin is being adopted and taxation is possible but control it is not. But Bitcoin is not anonymous and with the right tools the governments can make research and find anything they want. It is not as scary as some think except if it messes with their plans to keep being corrupt.

[pax166 0]

This are really valid reasons. Additionally some countries are less technologically advanced which makes it very difficult for its people to accept digital currency. Some countries even consider it as illegal.

[Amna Hareem 1213]

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 ? 

 Yes you are right dear this is the reasons that many countries are banning Crypto currencies in their countries but government should have to create some rules for this because everything has advantages with disadvantages we have to accept it and make a system that it should give us only advantages we should prevent from there disadvantages.

[zhoutong 2188]

I don't see these reasons to be creating a lot of problems. The regulations are clear as the crypto exchanges have to comply according to the location they are based so there is nothing uncontrollable. The nature of many crypto assets is uncontrollable but for the most part the transactions are traceable. 

[Obliv0n 333]

Only some currencies are untraceable, most of the rest can be traced, in the case of taxes, many countries are already regulating the markets related to cryptocurrencies, an example is South Korea or the United States and even China.

[koynayak 1923]

I think those countries are banning crypto because of the tax issue. They don't want to lose any tax. I think those countries are developing or undelevoped countries like my country. I think crypto will finds a way no matter what they do. We all knew what happened in venezualle. No one can stop usage of crypto.

[miskyming 1588]

Yep I agree those are the reasons why some countries banning cryptos, they also think that they can fund terrorist using crypto and you know crypto can not be trace by the government so they banned it. 

[Msh9 84]

Some countries are afraid of dealing in cryptocurrencies because they are afraid of losing the value of the currency in which it operates within the country and losing its value, and Bitcoin becomes of greater value than the value of their currency.

[yonkii 3205]

On 11/28/2020 at 4:25 AM, MoralStories said:

. 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.

You say intractable that means uncontrollable, but then you say trackable that means capable of being tracked. The explanation is different as tracking something does not mean it is also controlling it.

[DC71 169]

Cryptocurrencies are not legalised and government cannot impose taxes on cryptocurrency transaction. Yhat is one of the big hurdle in cryptocurrency acceptation in worldwide. If this problem is resolved and government accept cryptocurrency then i think cryptocurrency create positive impact on economies of different countries

[Ayham7daoud 463]

 Cryptocurrencies limit the profits of banks and companies. When transferring money from one country to another country or remittances, cryptocurrencies are faster and less expensive. This is what makes them prevent the spread of crypto in developing countries and third world countries. 

[basel23 1722]

These are the main reasons for not accepting cryptocurrencies by governments, just as governments want to remain in control of the economy and money transfer operations because transfers represent good entry for many countries.

[Quickbee 26]

One of the main reasons why Cryptocurrency is not acceptable by the government is because it cannot be controlled by it. Secondly the present system does not allow the government to track Cryptocurrency. So it can be used illegally. 

[SuperCrypto 7193]

This is absolutely correct, just as dealing in cryptocurrencies may affect the economy of the country in which you deal in a large way, China, for example, uses cryptocurrencies a lot and this is what makes its currency very weak, but they are using this correctly, but they want their currency to be weak in the market to promote Their goods are on the world market.

[Naseer Ahmad78 721]

In my opinion, in this era of technology there are still some countries who are away from such a thing like to earn money through online business but cryptocurrency is a digital currency that we use within online marketing, they do not believe in online learning and they trust more on the physical currency. 

[Rozy 1918]

Certain countries want everything to be under full control , and they take the anonymity of cryptocurrency as a motive to fight it , because you cannot know their real owner of the money and where he got it from , so they suspect that it is coming from an illegal activity.

[Lapulga04 259]

On 11/28/2020 at 3:25 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 ? 

Hello friend, you have actually highlighted good points about it's disapproval, however dose points also are the reasons most people enjoy trading with it. Imagine how exciting it is to earn without Government deducting from it.

[MoralStories 1127]

On 1/4/2021 at 8:23 PM, Ocean of Islam said:

yes dear @MoralStories you are absolutely right because reasons behind the restrictions of crypto in some countries are common as they argue that it's not good for thier central banks as it's declining their business.

I think this is happening only because and the countries want the citizens to pay taxes all the time and if we use cryptocurrency it would be hard to collect taxes for the government

[abdullah553 1981]

On 11/28/2020 at 4:25 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 ? 

It may also be that the work on it is unknown and therefore states cannot protect people from fraudsters and hackers and hold accountable those who steal money

[godislovefll 1880]

On 11/27/2020 at 10:25 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 ? 

I think they are the main problems, but I think that in the same way it can be done as the tangible money governments can charge their private companies a percentage or fees in cryptocurrencies and with respect to the illicit use of cryptocurrencies, they could have a very large team that tracks transactions And so I can know what they are used for if they do their due follow-up because it really is a problem but I know that it can be much better if cryptocurrencies are accepted all over the world.

[JesusFries 1958]

In your information given, that's normal with cryptocurrency because of being decentralized, there's a countries which is totally accepting cryptocurrency by seeing it's importance, that is just not accepting because it can be used in transaction of drugs, dealing with terrorism etc.

[Tonmoy12 345]

On 11/28/2020 at 8:25 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 a really good and informative post my friend so thank you very much. I always thought why is crypto currencies are banned in our country. Now after reading your post it makes sense because if the government can trick these currency then it will bring more problem than benefit.

[yulitzacalvete 1366]

Although cryptocurrencies have these disadvantages compared to fiat money, it should be noted that it is not an impediment because there are already several countries where this is legally traded and nothing bad has happened, so if the countries think it is a problem for the economy of a state, other countries restored their economy with cryptocurrencies.