Quote from: Clark13 on February 14, 2018, 08:15:32 PM

Quote from: Jamesbob16 on February 14, 2018, 05:52:13 PM

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.

The main reason why crypto is banned in many countries is because the anonymity and security of most types of cryptocurrency make it impossible for government governments to manage the assets of investors so the government does not tax collectors from these people. That loses a huge government tax. Besides the inability to manage transactions, governments feel uncomfortable when a financial market is unmanageable.