Bitcoin is not legalized in some countries for several reasons, mainly due to concern over financial stability, government control and regulatory issues.
What are the reasons why some government had banned or restricted Bitcoins??
There are several reasons why Bitcoin is illegal in some countries, as you mentioned. They fear that it could destabilize the financial system and undermine their control over it. For example, bitcoin allows anonymous transactions, which makes money laundering easier. Additionally, it enables people to bypass taxes, and its instability with varying prices can be risky for the economy and investors.Some of the countries in which bitcoin is illegal are Nepal, Bangladesh, and Morocco.