Post
Topic
Board Economics
Re: Reason why other ban cryptocurrencies
by
boksoon
on 25/08/2018, 03:21:57 UTC
The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.


Other Country usaully ban of crypto currency because they are not totally ready to use it because of a lack of resources to facilitate of all mandate related to bitcoin, example internet facility and electricity is  main important uses that could be use to bitcoin that's why other country are not approved to use bitcoin.