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    Author Topic: Why do some government ban bitcoin?  (Read 1525 times)
    Rooster101
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    March 26, 2018, 08:12:53 AM
     #121

    Government can't effectively ban bitcoin or any cryptocurrencies because it is difficult to enforce and exchanges would go underground instead. Governments use to control currencies and uses their central banks to issue and destroy money and they have their own monetary policy to exert economic influence. Because it is centralized, they controls all functions and uses of fiat including tax collection and monitoring illegal use of currency like money laundering. Cryptocurrencies are opposite of government because they are decentralized which means no one controls them and banks are no longer needed for this kind currency. Government don't like the idea of decentralized currency and some considers that cryptocurrencies are not a currency with legal tender status in any jurisdiction.
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