Many countries are trying to stop bitcoin trading and they have banned cryptocurrency from the country. But why they are doing like this? Where people are going to rich by Bitcoin, They are getting huge benefit by its. Then why government trying to pull down Bitcoin? What is the main reason? Please share your thought.
Thank You
Banning of cryptocurrencies in many countries can be associated with the fear that they have and because of it does not have any taxation. Fear is associated with the lost of banks since cryptocurrencies are decentralized and cannot be intepret by banks. Cryptocurrencies without taxes are not useful for the Government so they tend to ban it instead since it is not helping the community yet only the individual.