Post
Topic
Board Economics
Re: Reason why other ban cryptocurrencies
by
SeVenlast
on 12/12/2018, 00:40:37 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.

Yes you're correct. The main reason why a lot of government still don't want or still ban cryptocurrencies because they can't control it they cannot regulate it that's why they ban cryptos. Some people said that cryptocurrencies makes the economy of one country become poorer.

Crypto world can not be controlled by others to have bad prices or good prices always. So everyone who uses that can do that.