Post
Topic
Board Economics
Re: Reason why other ban cryptocurrencies
by
Bionicgalaxy
on 16/09/2018, 20:18:09 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.
The reason why other countries banned cryptocurrencies because they think it is only been used to trick people to invest their money in cryptocurrencies or scam people, but it is not true. Hoping that scammers wil be removed and banned in the world of cryptocurrency for it will be accepted in every country.