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Why do you think some governments are still banning crypto?

  • Thread starter Thread starter Nomad
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Nomad

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Recently, my home country was in the news on the major crypto news platforms because of the "ban on crypto." The government has ordered internet service providers to block user access to anything related to crypto including wallets and exchanges. Why do you think governments are still bannintg cryptos?
 
In my opinion, the main reason is that they cannot regulate it in any way. They can force people to pay a profit tax, but this will only be if people withdraw their funds to fiat cards, and most will not do this when there is a tax and will use crypto cards that can be used in the store
 
I do not think it is the case of regulation, I believe when crypto is allowed, it will disrupt the traditional financial markets and banks will lose money. That's why they are banning crypto
 
Governments ban crypto due to threats to monetary control, illicit use, volatility, regulatory gaps, energy concerns, and potential financial instability. However, some favor regulation over outright bans, as the landscape continually evolves.
 
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