Government and Bitcoin

[fbtdarkhorse]

indeed, the government and bitcoin between pros and cons, some accept bitcoin and some deny the bitcoin activity, and every government has different reasons for the existence of bitcoin. that's what I know.

Currently, the currency is banned in only 3 countries. Consequently, the Government of many countries have a positive attitude to the currency, but in some countries legal drafts are prepared.

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[artichandra]

Why, until now, government all over the world still doesn't trust bitcoin?

Because the government is spreading negative news about bitcoin and they do not want to use bitcoin because bitcoin is very risky for their country. But there are governments that accept bitcoin in their country because they believe that bitcoin not only has a negative nature but can save their economy.

[Park Minseo]

Europe is a more complex place for electronic money. Unlike the United States, Europe has weathered the 2008 economic crisis and has focused more than ever on managing and directing the nascent fintech industry. In recent years, the fintech industry has increasingly become "blockchain" and many laws have been enacted to encourage development.

[Punisherx100]

Because it's still new. And actually a solid percentage of bitcoin users still don't 'trust' bitcoin.

Indeed! and a lot of them for sure have this issue in investing or they see the bitcoin as their competitors especially the national currency an example is the banks.

[tikaka]

The conservative nature of the government is probably the main reason. The government wants to control everything and the tax issue is very important. And they value this. And for bitcoin, the government does not seem to have control over everything, so the issue of imposing taxes is difficult. So the government does not want to support bitcoin

[lekam0213]

Maybe because bitcoin is a decentralize currency in which government cannot even hold or control it and in the other hand crypto currency is so volatile and I think it would be hard for the government to maintain its price if bitcoin still unpredictable.

[tanjimaarfin23]

No one bit govt. The government wants to control everything and the tax issue is very important. And they value this. And for bitcoin, the government does not seem to have control over everything, so the issue of imposing taxes is difficult

[nagobinga]

if in india must be bitcoin still illegal and the government has not approved this arrival in indonesia i hope it will be approved by my country and can get money from this result.

[Sir Paijoe]

I hope that bitcoin is immediately legalized by the government because bitcoin has been proven to create many opportunities and can reduce unemployment, if legalized then the economic welfare will increase.

[teklang01]

Why, until now, government all over the world still doesn't trust bitcoin?

Not all government don't trust bitcoin because here in the Philippines, bitcoin was declared legal. In fact, the government will give permit to 10 platform exchange companies to operate here in our country. That is a very good news to us because it will mean more job opportunities for us.

[Lexurdania]

I also do not understand why the government still does not believe in bitcoin, whereas currently there are many countries that support existence of bitcoin. So if the government still does not believe, we should try to convince them.

Government dont trust and regulating bitcoin or cryptocurrency because they can not control the supply. But in many country, bitcoin and cryptocurrency already regulate and its just matter of time for others countries for following

[DragonETH]

I also do not understand why the government still does not believe in bitcoin, whereas currently there are many countries that support existence of bitcoin. So if the government still does not believe, we should try to convince them.

Government dont trust and regulating bitcoin or cryptocurrency because they can not control the supply. But in many country, bitcoin and cryptocurrency already regulate and its just matter of time for others countries for following

Governments can use the Swiss franc around the world and cancel their dollars, yen, Euro. But they don't, so why does everyone think that suddenly they will start using bitcoin? He does not need them and they do not use it, but will have to make their cryptocoin.

[david.super]

Government dont trust on cryptocurrency like bitcoin because they can not control it. Bitcoin can impact on bank bussiness and thats why central banks wont let bitcoin for payment.

[Labad]

Because bitcoin is decentralized. Government can't benefit from it, they can't apply tax on bitcoin. Government saw bitcoin as a threat that one day it will destroy the fiat money.

[RiskySanchez]

Government dont trust on cryptocurrency like bitcoin because they can not control it. Bitcoin can impact on bank bussiness and thats why central banks wont let bitcoin for payment.

the impact was very visible, because the amount of currency value in the Asian countries decreased due to lack of demand on the value of their own nation's currency that makes the value of dollars also increase because of the exchange of Bitcoin which recommends using the dollar

[hitchcoin]

To my mind, the government will be okay with the crypto legalization only if it gets the opportunity to receive some kind of incenetive from it like taxes from every transactions made with the bitcoin.

[luan la]

will,governments are afraid that banks will lose their customers,so people can invest in bitcoin without paying taxes the banking system is compromised.

[Carrelmae10]

..because it is really hard to control bitcoin..government don't acknowledge bitcoin because of its volatility..i wish that someday,,many government will going to be involve in crypto currency and make bitcoin as the life blood of the economy..

[sudas3]

Why, until now, government all over the world still doesn't trust bitcoin?

Because they always want to rule and dictate!

[masonmason]

now a lot of the Government banned using bitcoin because they fear criminals use it with negative intent. But In the near future many countries will legalize bitcoin because it is one means of generating revenue and taxes.