Why is Crypto Banned?

[Bisolami]

In most countries, people who are in government are old people. People heading central banks in many countries are also old people. They do not understand the importance of blockchain economy.

This is true
They do not even know how helpful cryptocurrency can be ti us and that is why they don't want us to use it at all because they do not really know anything about it

 

[nomad]

Cryptos basically is for Gen Y and Gen Z. Sadly, people who are at the helm of governments and policy-making levels, SEC or Central Bank for example, are from Baby Boomer generation or Gen X.

 

[Blessed19]

I also do not understand why that is happening but I am sure that there is surely going to be a reason for that action but it is not known to us yet

Most of the time it is because the people over at the helm of power do not want to see the young ones getting free from their shenanigans of controlling the people with poverty and wealth propaganda.

 

[Bisolami]

Most of the time it is because the people over at the helm of power do not want to see the young ones getting free from their shenanigans of controlling the people with poverty and wealth propaganda.

They know that cryptocurrency is the best abd quickest way for us to get rich on our own and they don't want us to get rich so they are trying to stop us from doing so

 

[Blessed19]

They know that cryptocurrency is the best abd quickest way for us to get rich on our own and they don't want us to get rich so they are trying to stop us from doing so

yes they know cryptocurrency will make a lot of Young ones rich and financially free and stable that is why they want to stop it and have a way by which they can control the young ones with the influence of money and promises to make life better.

 

[capri]

Crypto is a currency that operates outside the regulation of traditional systems for monitoring and controlling currencies. This situation makes authorities such as governments to be wary of crypto. Fears surrounding crypto include the idea that lawless and/or anarchist entities could exploit these currencies to engage in nefarious activities.

This is part of the reason why many governments disallow crypto.

 

[Golden9]

I think cryptocurrency is similar to artificial intelligence. They both may have good uses, but they threaten a certain traditional sector, in the case of cryptocurrency, the financial sector. That's one of the tools government can use to control the masses and they want to lose it.

 

[Niyi Briggs]

Even though the CBN through its arrested governor had banned crypto in my country, there is a framework being developed to streamline and regulate crypto which is I believe the new president would approve.