Possible reasons why some countries are yet to adopt Crypto currency legally

[Addy4030]

Currently there are about 195 countries in the world, the percentage number of countries that has accepted the use of Crypto currencies legally is very small. Sometimes I wonder why most of these countries are yet to adopt Crypto currencies.
I thought of money laundering as a possible a reason since Crypto currency transactions are anonymous in nature which may make it difficult for government to trace people in money laundering. What do you think?.

I love this write up. Money laundering are very bad and Government is doing all in their power to stop it. But the development of crypto currency is the reverse because it can get better improvement if government sees the upgrade in the generation and technology as it can as no limit to international market and trading.

 

[Grandeur]

One major reason why the government of a country to adopt crypto currency would be fear. Fear of the Cyber crime rate increase that comes with crypto currency.

 

[kayode10]

Majority of them have different fears about cryptocurrency. Take for instance, China is afraid of foreign sponsors to take over the government if they are now people to be using cryptocurrency. While on the other hand, Ecuador has accepted as legal tender.

 

[Yusuf]

A lot of countries are yet to legalise crypto currency exchange Business just because of the fact that it can't be regulated by any government agency which is a turn off for the government

 

[Senator]

One of the possible reasons why till now some countries and governments are yet to adopt the use and transactions of cryptocurrency is because they fear it might not be controllable like the fiat currencies

 

[ahmedo24]

A lot of countries are yet to legalise crypto currency exchange Business just because of the fact that it can't be regulated by any government agency which is a turn off for the government

Government of different countries has the power to regulate it but the fact is that they can't control the price so if they can actively regulate it there is a way they can always benefits and they always stand saving the whole system.

 

[Alexandoy]

One of the possible reasons why till now some countries and governments are yet to adopt the use and transactions of cryptocurrency is because they fear it might not be controllable like the fiat currencies

I wonder why you think the government has fears on the crypto coin. That means in your mind the crypto coin is superior than the government. That is a crazy idea that crypto fanatics are circulating. They are forgetting the crypto coin is not a legal commodity for trading. They should the ones to fear.

 

[Kelly5]

Ones major excuse I keep hearing is that it is because cryptocurrencies are now been used as a fraudulent means to carry out comes that are very high valued in nature

 

[Sincerem]

In this life, no matter how legit a particular investment maybe, we should always know, not everyone will invest in it or talk 100% good about it, that's exactly what's going on around cryptocurrency.

 

[Sotherefore]

In this life, no matter how legit a particular investment maybe, we should always know, not everyone will invest in it or talk 100% good about it, that's exactly what's going on around cryptocurrency.

Yes some people are just saying it in the negative way that cryptocurrency is trying to take over everything but this is not the right thing as cryptocurrency is just a decentralized technology that operate on its own

 

[Kubiat-Abasi]

Apart from the fact that some Country leaders that ban it are just sadist, I feel it's because crypto has no regular structure and no regulatory backups.

 

[Sincerem]

Yes some people are just saying it in the negative way that cryptocurrency is trying to take over everything but this is not the right thing as cryptocurrency is just a decentralized technology that operate on its own

That's negative thoughts around cryptocurrency, and most of the people saying this kind of things are those who doesn't like cryptocurrency existence, but to their surprise crypto is going stronger.

 

[Jhayms07]

I think the fact that crypto is decentralized and no one has control over it is the major reasons why many countries haven't accepted it

 

[ahmedo24]

That's the challenge and Elon Musk spoke about it in the September 28 conference held. Government really wants Total control which is not achievable with cryptocurrencies.

 

[Sotherefore]

That's negative thoughts around cryptocurrency, and most of the people saying this kind of things are those who doesn't like cryptocurrency existence, but to their surprise crypto is going stronger.

Yes no matter how they are trying to draw it back cryptocurrency will continue to go up. there is another update coming up and now the price of cryptocurrency is going down just oposite of what we predicted.

 

[Senator]

Apart from the stable coins that we have on ground at the moment, the possibile reason I can think of thatost government would not adopt the use of cryptocrrency is the unstable and volatile nature of the cryptocurrencies

 

[Kubiat-Abasi]

Some countries are not willing to accept it because crypto trade doesn't have a regulatory structure or system and they see it as a high risk investment.

 

[Sincerem]

Yes no matter how they are trying to draw it back cryptocurrency will continue to go up. there is another update coming up and now the price of cryptocurrency is going down just oposite of what we predicted.

That's why we can't be 100% sure around cryptocurrency prices. We only try to read the market to get try our best and predict the outcome of their prices within an interval. But we should know it is unpredictable at times. That's why I prefer saving long time, to get it recovered.

 

[Sotherefore]

That's why we can't be 100% sure around cryptocurrency prices. We only try to read the market to get try our best and predict the outcome of their prices within an interval. But we should know it is unpredictable at times. That's why I prefer saving long time, to get it recovered.

Yes that is what I am focusing now on to do because I don't really like trading because of the emotional stress that comes with it, people who are trading spot might actually not lose anything because it is possible that the coin is going to bounce back.

 

[Ceeny007]

A lotof people are afraid of what they don't understand or have control over,it's the same thing with government,they are not comfortable with things they can't control