Bitcoin and Cryptocurrency are considered illegal?

[isyot12345]

Hi everyone,
I've join the bitcoin world for 1 year and earn a little income from this wonderful place.
But, unfortunately, when I talk about this to my parents, they all said this is the illegal money and I have to quit it before getting trouble with the government. Truly, even the main TV news program in my country said that, national banking system will banned bitcoin from any payment and there will be an punishment for that.
In my opinion, Bitcoin and crypto. still have its advantages and could be helpful if we use it for the good purpose.

What do you think, how can I explain to my parents? some article would be great. Thank you all!

In some countries it is deemed illegal as we are now having reports that countries are following suit in china’s initiative to banning cryptocurrency in their borders. However, there are still a lot and I mean a lot that have been shitting the other way on cryptocurreny or letting thrive to see what it looks like because some countries do have the awareness of what bitcoin and the cryptocurrency as a whole can mean if it goes higher

Other say's crypto was illegal. but for many people investing and try to work about crypto cause of their big profit.for me crypto or bitcoin is my finance for daily needs and she help me to get even a small bussiness. and my life was saved from there crypto. if all people of the world knows the crypto are very good for the furure i ithink it will be grow up and no one say's their illegal. for me i think 10% say's bitcoin and crypto are illegal. but 90% are agree  for the crypto and btc are not illegal.

[CryptoJedi1]

Japan is the only country that has deemed it legal. Most other countries are confused about Crypto. Some has given the status of "neither legal nor illegal".

[lupinvn]

Japan is the only country that has deemed it legal. Most other countries are confused about Crypto. Some has given the status of "neither legal nor illegal".

After some months of bear market, I think Cryptocurrency now is considered as a illegal thing to many people. Because most of them lost more than 50% of their investment in this new market. And yes, maybe just Japan deemed it legal but in Vietnam, for example, although Crypto is not banned but government still limit them. In some cases, if they detect that your money transaction is related to crypto, maybe you will be summoned to the police station. lol

[lobster88]

Hi everyone,
I've join the bitcoin world for 1 year and earn a little income from this wonderful place.
But, unfortunately, when I talk about this to my parents, they all said this is the illegal money and I have to quit it before getting trouble with the government. Truly, even the main TV news program in my country said that, national banking system will banned bitcoin from any payment and there will be an punishment for that.
In my opinion, Bitcoin and crypto. still have its advantages and could be helpful if we use it for the good purpose.

What do you think, how can I explain to my parents? some article would be great. Thank you all!

We need to explain the crypto currency functionality with the banking system facts that will enlighten them to understand more economics and legal principles in depth.

[xWolfx]

@ipanks. I support cryptocurrency from an ideological - libertarian point of view. I have never mined in my life: I am ashamed to admit that I am technically a complete noob and probably already too old and unexperienced to start with it...  

I personally don't agree with your statement. It's never too late to start something you want to do as long as you're still alive.

Experience comes with times, that is the easiest thing to get when you really like a subject, the thing is learning - Nothing that being persistent can't accomplish.

[leninay]

Hi everyone,
I've join the bitcoin world for 1 year and earn a little income from this wonderful place.
But, unfortunately, when I talk about this to my parents, they all said this is the illegal money and I have to quit it before getting trouble with the government. Truly, even the main TV news program in my country said that, national banking system will banned bitcoin from any payment and there will be an punishment for that.
In my opinion, Bitcoin and crypto. still have its advantages and could be helpful if we use it for the good purpose.

What do you think, how can I explain to my parents? some article would be great. Thank you all!

Many people still consider Bitcoin an illegal means to make payments.  However, in fact, illegal can only be called certain money substitutes, to which Bitcoin has nothing to do.  Today, military-technical cooperation is widely used around the world, and in some some states have already received the status of “private means for payments”.  Moreover, Bitcoin can be completely attributed to financial assets - their regulation is entirely carried out according to generally accepted rules.  In other words, Bitcoin is a very convenient unit for calculations, and in this sense it is no different from other currencies.

source in Russian, I translated the answer to your question

Source: https://finansy.name/kriptovaljuta/mify-i-pravda-o-bitkoine.html

[DeadCoin]

The government authority takes the ownership of legalizing bitcoin or any other crypto currency in their respected countries. Again this seems to be a repeated question quoted multiple times and the answers are known. The countries who do think to accept crypto, feel that if crypto is accepted, their local fiat's value would fall down. This the main reason to think on legalizing bitcoin.

[playboy654]

The government authority takes the ownership of legalizing bitcoin or any other crypto currency in their respected countries. Again this seems to be a repeated question quoted multiple times and the answers are known. The countries who do think to accept crypto, feel that if crypto is accepted, their local fiat's value would fall down. This the main reason to think on legalizing bitcoin.

The thing that we have to know before saying Bitcoin and other cryptocurrency was illegal is it is not accepted by the government then only we can say like this but the government will not take an action to accept the situation of cryptocurrency but it will not happen still now

[SnapDown22]

indeed in some countries there is a strict prohibition on crypto currencies that are accessed in their country if indeed the government prohibits me from thinking we cannot do anything but in my country which is prohibited from directly dealing with crypto currencies without interference from my country's banks

[otong]

indeed the existence of bitcoin is currently not legalized by the government, because the government is still confused about what they will decide. so for all this time we are all waiting that bitcoin will be legalized. not only our country, but also other countries that do not have permission from the government.

[BennyK]

The legal status of Bitcoin and cryptocurrency depends on the country been discussed. The government of any country has its perception about Bitcoin and for those who understand the concept of Bitcoin accepts it as legal. Countries like South Korea, Indonesia, Canada, Australia have declared Bitcoin as legal. Other countries are neutral about the operations of cryptocurrencies. It is good to study the legal status of Bitcoin in your country.

[CryptoSmile]

Indeed there are some countries that prohibit the use of bitcoin, so maybe in that country bitcoin becomes illegal, and if that also happens in your country of course what your parents say is true, because if you do something illegal it will be a problem. I think there is no explanation that you can give when the state prohibits the use of bitcoin and maybe you can explain to your parents to move to a country that does not prohibit the use of bitcoin so you will be free to use bitcoin and your parents will not prohibit you from using bitcoin .

[Irvinn]

The legal status of Bitcoin and cryptocurrency depends on the country been discussed. The government of any country has its perception about Bitcoin and for those who understand the concept of Bitcoin accepts it as legal. Countries like South Korea, Indonesia, Canada, Australia have declared Bitcoin as legal. Other countries are neutral about the operations of cryptocurrencies. It is good to study the legal status of Bitcoin in your country.

Now there are more countries that have recognized the validity of circulation of cryptocurrency on its territory, than those that have banned its circulation. The countries of the European Union, and these are 28 states, have a very positive attitude towards cryptocurrency. So far there are about a dozen states that explicitly banned the circulation of cryptocurrency. The rest of them either legalized her circulation, are going to do it, or are still thinking about it. Financial relations are the most conservative, they do not like hasty actions. Therefore, we need more time to cryptocurrency gradually introduced into our lives.

[Ekimzjames20]

The legal status of Bitcoin and cryptocurrency depends on the country been discussed. The government of any country has its perception about Bitcoin and for those who understand the concept of Bitcoin accepts it as legal. Countries like South Korea, Indonesia, Canada, Australia have declared Bitcoin as legal. Other countries are neutral about the operations of cryptocurrencies. It is good to study the legal status of Bitcoin in your country.

Now there are more countries that have recognized the validity of circulation of cryptocurrency on its territory, than those that have banned its circulation. The countries of the European Union, and these are 28 states, have a very positive attitude towards cryptocurrency. So far there are about a dozen states that explicitly banned the circulation of cryptocurrency. The rest of them either legalized her circulation, are going to do it, or are still thinking about it. Financial relations are the most conservative, they do not like hasty actions. Therefore, we need more time to cryptocurrency gradually introduced into our lives.

There are some other countries than allowed bitcoin to operate but is not already ligalize, example philippines, japan, etc. but sooner or later it become legal and used it for our own goods.

[idham29]

indeed the existence of bitcoin is currently not legalized by the government, because the government is still confused about what they will decide. so for all this time we are all waiting that bitcoin will be legalized. not only our country, but also other countries that do not have permission from the government.

For certain countries bitcoin is considered illegal, because it is more detrimental if used in that country. That is a reasonable argument.
But what is of interest is that bitcoin up to this point cannot be controlled by the government so that its positive value (such as taxes) cannot be applied, making bitcoin an illegal currency.

[bitbunnny]

Illegal is too harsh term from my point of view. In majority of countries, at least at western hemisphere, Bitcoin and cryptocurrencies are not considered to be illegal it's just that they are still not regulated and formaly introduced into economy system and society but that is the big difference compared to illegal. In general Bitcoin and cryptocurrencies are somwhere in between because majority of governments and central banks still don't know what exactly to do with them and in what extend they should be accepted or not.

[Pab]

Hi everyone,
I've join the bitcoin world for 1 year and earn a little income from this wonderful place.
But, unfortunately, when I talk about this to my parents, they all said this is the illegal money and I have to quit it before getting trouble with the government. Truly, even the main TV news program in my country said that, national banking system will banned bitcoin from any payment and there will be an punishment for that.
In my opinion, Bitcoin and crypto. still have its advantages and could be helpful if we use it for the good purpose.

What do you think, how can I explain to my parents? some article would be great. Thank you all!

I don't know what country are you from
I don't know any country where bitcoin is to be illegal
Bitcoin is not recognized like a legal payment method in any country in the world
But it doesn't mean it is illegal
You can pay with bitcoin in most countries in the world if merchants are accepting bitcoin

[itulaj1]

I agree with you, that this digital currency will be useful if we use it as well as possible, I have been dealing with the crypto world for 3 years, but until now I am fine like everyone else. my parents know that i like bitcoin and they support it ... give you a little advice about the explanation of bitcoin to your parents. Your parents must know that the holders of digital currency assets are not all criminals or bad people, we are not thieves, we are not corruptors, we are just looking for luck from the internet by selling or buying bitcoin, is that wrong? but maybe bitcoin is different from other currencies, bitcoin doesn't have any form when we sell and buy, so they call it illegal. I strongly agree that you explain as much as possible to your parents so that they understand and appreciate us as bitcoin seekers