Why many countries rejected cryptocurrency ?

[Aya]

For sure most of the countries are hostile towards privacy-oriented cryptocurrencies. And probably sooner or later they will ban it.

The reason is simple - if transaction cannot be tracked, there is a chance it can be used for some illegal activities or avoiding taxes. And if such chance does exist - it should be banned. This is by the way the reason that most of cryptocurrency exchanges are obliged by authorities to verify their customers.

Another reason is pretty simple - many people who work for different authorities are often not the people who are up to date with latest technologies. If all their knowledge about cryptocurrencies comes from mass media responsible for boosting fear and greed factors, they fear cryptos and regard them as some sort of hi-tech scam (what is obviously a lie).



Another reason is because the blockchain cannot be controlled by state itself. And states in last couple of decades mainly go in the direction of controling more and more aspects of our lives.

I agree with the first reason. Cryptocurrency has also been notorious in the talks of it being used in the black market that is why some governments are cautious of allowing it in their country.