Some governments that have banned crypto have said that cryptocurrencies are being used to funnel money to illegal sources and argued that the rise of crypto could destabilize their financial systems.
Why crypto is banned in some countries?
Officially, prohibitions are in place with transactions in crypto punishable by up to 12 years under the country’s money laundering and terrorist financing laws.
Why is government banning crypto?
What countries ban cryptocurrency?
Why do countries hate cryptocurrency?
In its current form, Bitcoin presents three challenges to government authority: it cannot be regulated, it is used by criminals, and it can help citizens circumvent capital controls.
