legality of bitcoins in some countries

[jackg]

Why do some countries bann the use of bitcoins and make it illegal to obtain them in their country.

[1714268454]

1714268454

[1714268454]

1714268454

[1714268454]

1714268454

[1714268454]

1714268454

[vennali]

Why do some countries bann the use of bitcoins and make it illegal to obtain them in their country.

I would say its mostly to have control over the economy, and private companies to keep profiting from chargin a high fees from the transactions they handle. The government really doesn't want a decentralized environment for money.

[OmegaStarScream]

Why do some countries bann the use of bitcoins and make it illegal to obtain them in their country.

Its' for the simple reason that all goverments only care about the money and don't give a shit about anything else , and Bitcoin is basically the wall that prevent them from making more money .
I thank god because every day because my country don't even know what bitcoin is so I'am free to do whatever I want 

[btccashacc]

Why do some countries bann the use of bitcoins and make it illegal to obtain them in their country.

because some goverment think bitcoin user will be kill bank

[jackg]

I have also noticed that if people earn bitcoins for doing a job, they cannot be charged usual income taxes from the receiving of the bitcoin as it i tecnically not in their country that the money was recieved as bitcoin is a decentralised currency.

[btccashacc]

I have also noticed that if people earn bitcoins for doing a job, they cannot be charged usual income taxes from the receiving of the bitcoin as it i tecnically not in their country that the money was recieved as bitcoin is a decentralised currency.

you are right

[n2004al]

Why do some countries bann the use of bitcoins and make it illegal to obtain them in their country.

Because bitcoin were competing their national currency. This was a serious risk for the economy of the country which is based totally in their currency.

[NewLiberty]

I don't think any of these reasons would be true in a government that is neither corrupt, nor a puppet of its bank.  The bad news, is that I don't know of any such country.

You can measure the corruption of a government by its restrictions on Bitcoin and Bitcoin businesses.  The more regulations and bans there are, the more corrupt the government.


Without corruption, Bitcoin PROVIDES government with better governance.  If every government transaction used bitcoin and each wallet were labeled by a message in the chain, and no stealth addresses, it would provide complete transparency for government activities, and creates a provably honest system of governance.


Higher corruption causes higher public investment, lower government revenues, lower expenditures on operations and maintenance, and lower quality of public infrastructure. The evidence also revealed that corruption increases public investment but reduces its productivity.  
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=880260

[jackg]

The cryptocurrency banns in some countries could be one of the reasons why bitcoin hasn't gained every user of the internet into its system.

[Amph]

probably because they can't tax it efficiently, and therefore it's better to restrict or ban it(well you can't ban it but whatever...), those countries that cna take advantage from taxes, will surely regulate it instead, unless they are stupid

[gentlemand]

There's quite a leap between heaping disdain on something and making it hard to use compared to banning it. People here are rather too quick to use the ban word. More often than not when you look a little closer it isn't the case.

How many countries have explicitly outlawed the use and possession of cryptocurrencies?

[Mickeyb]

On the top of all the reasons that other posters posted above, you also have countries with strict controls of getting the money out of their country, eg. China, Russia, etc.. Over there, governments are afraid that their citizens will use Bitcoin to bypass laws and get their money out of the country and to the foreign countries.

Some countries, even though they haven't banned Bitcoin, they had made it as hard as possible to transact from Fiat to the BTC. I am talking about China here.

[jackg]

Some countries are also still communist so don't like people having assets that other people cannot have access to!

[ashour]

Why do some countries bann the use of bitcoins and make it illegal to obtain them in their country.

Because some countries think that bitcoin is an invention of the U.S government in order to control the financial market of certain countries. Russia and Venezuela are 2 countries that actually think that bitcoin is a U.S government innovation, so they decided to ban/restrick it.

[n2004al]

Some countries are also still communist so don't like people having assets that other people cannot have access to!

First time I hear about this. And seems very complicated. I lived in a communist country for about 30 years and I can assure you that they don't think so complicated. For them every new technology must be developed in their country and they disinterested about others that not are developed there. So simply ignore this. Not openly and telling this in this way. But ignoring or make possible to not being knowing by the people. If the technology is known in some way they than decide what to do with it. And the decision is the most of times according to moment humor of the leader.