Bitcoin Forum

To those who understand it, bitcoin is a blessing, but not everyone shares that sentiment. From scaremongering CEOs to entrenched central bankers, bitcoin’s list of detractors runs long and deep. Elected officials reserve particular ire for bitcoin however, with leaders across the globe weighing in. While most governments seek regulation, others have gone further, passing laws that ban the use of bitcoin altogether.
Haters Gonna Hate, Legislators Gonna Legislate
Be it due to fear, ignorance, or protectionism, governments have a tendency to legislate against perceived threats. The first prerogative of every government is to govern, after all, and any disruptive technology that erodes their power is liable to receive short shrift. Governments that ‘get’ bitcoin, such as Japan, have passed legislation that protects its citizens whilst facilitating the free trade of the digital currency.
adly not all countries are as progressive, not just when it comes to embracing new technology, but in respecting basic human rights that people in developed nations tend to take for granted. In the most egregious cases, citizens have had their assets seized, accounts frozen, and been locked up. Governments can’t stop the blockchain from propagating, but they can severely hamper their citizens’ attempts to access it.

Very well said. I'm very much amazed with the content of this post. I wish that most of the countries will be as progressive as Japan when it comes to embracing changes. That is one of the reasons why they are on the leading countries worldwide. They are not afraid of changes and taking risks. Bitcoin is really very risky but it is also opening lots of opportunities.

Governments move slowly and are afraid of major changes which can have a huge effect on the establishment. So it is normal that governments have knee jerk reactions against bitcoin and cryptocurrencies in general. But hopefully, as the popularity increases, governments will come up with sensible regulations so that we can stop discussing things like whether bitcoin is legal.

Australia continues our list of top countries where Bitcoin is legal. Canada’s relationship with Bitcoin is similar to that of the US. The country’s Canada Revenue Agency (CRA) has classified this digital currency as a commodity.
The US has adopted a positive stance in regards to Bitcoin
Europe and the EU have been following the developments in the Bitcoin market for a long time. In our country Philippines is very positive in Philippines, and lastly Russia.

I do not see my country name here but I do not think it stops here yet many countries will forbid bitcoin and treat it as illegal.

One thing I see why most country ban bitcoin is that any currency that are not issued by or controlled by the government are totally illegal. Most of this countries made any transactions through bitcoins a punishable offense. One is china which was once the world's largest trading market. Rumors says that most banks in china strictly bans the use of bitcoins. On the other hand on the western superpowers like the United States and United Kingdom have shown a positive attitude towards the new technology and open mindedly accepts risk and progress.

I can't understand why so many posts mention Russia. And how is it related to bitcoin? There are no laws regarding cryptocurrency. Officials made conflicting statements. Law enforcement agencies taking advantage of the uncertainty to arrest major players in the cryptocurrency market. What good is it?

Yes some countries may not ban the crypto currencies but are also not supporting the trading and beholders have to take risks.