Will Bitcoin will be declare as legal or not ?

[corroze]

With increasing state adopting bitcoin and declaring its legality certainly makes the foundation of bitcoin system more robust, and maybe someday bitcoin will get its legality in various countries along with its rapidly growing.
And it is likely to quickly achieve stable bitcoin prices.

[alexrose2699]

I am sure that very soon many countries will take a very positive step about bitcoin and the price of bitcoin will again become skyrocket. May be some countries have already start thinking about the legalization of bitcoin.

[TrumpD]

If other countries keep adopting as Japan did, it may pressure reluctant countries to allow it. They may not ban it outright, but may allow people to use it informally. What I think will happen is that countries will develop their own national coin and blockchain.

[alexrose2699]

In my opinion the Bitcoin's rule will remain at one place and government rules will remain at one place .
Because if it get legalised or even get regulated then still we can use Bitcoin for the trading as well as for payment worldwide .

[Phyton76]

Here I am confused whether the Indian government want to declare the Bitcoin legal or not ?.

Here are the proof that they will declare it as legal

1) Why government of India asking to the public for the suggestion whether to regulate , ban , or just leave it as is currently .
2) Why government taking action against the zebpay , whether everyone paying tax or not .
3) If government want to ban , then why they are waiting , why they are not directly declare the Bitcoin as illegal way of payment or asset .
4) Why government want make tax  from the Bitcoin earner , but don't want declare it as legal .
5) The big bank in India SBI want to use technology of blockchain but still they are not supporting Bitcoin.

Here are the chances to declare it illegal , due to following conclusions

1) They already banned in the year 2010 , but after they unbanned , so chances to ban it again are much possible .
2) If the government of India can stop the use of old currencies  , without any prior notice , then it is possible that they can ban easily the Bitcoin .
3) Since most of the millionaires are in the favour of the Bitcoin but still few celebrities are against the use of the Bitcoin .
4) The current government ruling India is against the black money , so may be possible that with the name of the black money they can ban it ( regardless of the factor that every transactions are publicly open for everyone to see ) .


Well here I would like to suggest everyone , whether he is Indian or not , just support Bitcoin  at www.mygov.in   resister your account and say about the Bitcoin .
And tell them that Bitcoin is a best option to destroy the system of the black money , because everything is open to see .

If you have still any suggestion then feel free to share below about this thread and also I requested to you to support Bitcoin at www.mygov.in

note : we have time until 31 may to give our suggestion , so be fast to support Bitcoin .

I really hope that it will become legal but as the progress of bitcoin. Unknown trsansaction in online cannot be trace and can be use in illegal transactions like silkroad so government was against the bitcoin i guess but bitcoin will become illegal in the future as it continue adopt.

[Love!]

I just find it strange that a government would try to legalize and regulate something they ultimately have no control over whether regulated or not. Besides, it's the world bank that would have ultimate control because the world bank controls the actions of banks in most every country.

[biskitop]

To our knowledge, Bitcoin has not been declared illegal in most countries. Although there are some countries (such as Argentina and Russia) that strictly prohibit foreign currency. Other countries (such as Thailand) restrict certain currency entity entities such as Bitcoin exchange.

[Dazedconfused11]

It's tough to predict the future but I would have to side with the thought that they will keep it flowing. it's great for economies simply with the technology alone.

[denis72]

As government of india is moving to electronic methods of payment, i feel bitcoin can be declared as Legal but with certain rules and regulations. It would take some time to formally declare or consider it as legal.

[biskitop]

Actually Bitcoin has many advantages for its users, but if the user is using Bitcoin for criminals of course the government will stop it. And that is certainly a matter of consideration for the government whether Bitcoin will be legal or not.

[Miles123]

Maybe in the next few years it will be declare as legal because there are many users right now. So this Bitcoin will be known and will be legalize and have many obligations to pay. But in my opinion, I would be happy if bitcoin will not be legalizing because there is no need to pay tax.

[finom.io]

Bitcoin is already legal in many countries, and it's perfectly possible that in the close future it will be accepted just as widely as any usual state-regulated currency. Today it's already possible to say that more and more people find Bitcoin more reliable and applicable to use than usual currencies, and this certainly will influence its legal status in the future.
Although this question is rather of a political nature; democratic societies with stable and transparent economies are more likely to accept cryptocurrencies legally.

[patrik1012]

How about in ASIA what countries do bitcoin accept as legal according to their constitutions? Is there any that 100% legalize? Thanks.

[finom.io]

How about in ASIA what countries do bitcoin accept as legal according to their constitutions? Is there any that 100% legalize? Thanks.

Nobody can guarantee which countries will or will not legalize it; especially when talking about multiple countries. Hypothetically, every government may legalize it, but nobody will give 100% guarantee. But it's the same for any currency, or more broadly, any phenomenon on the market: you can't be completely certain in many issues, especially with regard to various legal/political regimes of each country.
One could suggest that it will be legalized globally, however it's unclear how much time this process can take.

[olubams]

What I see in all this is that countries are actually sitting on the fence on the issue of whether to declare illegal. Rather they choose the word ban because that would mean they can wake up tomorrow and spin the news that it is now unban or that citizens can now participate after they meet some certain conditions. However, no one actually knows but what I am sure is that they are equally observing the way things are going.

[Zerosk]

I believe they will declare it legal in the end. Even now in some European Countries there are Universities that accept payments for the tuition fees with BTC

[btc_angela]

How about in ASIA what countries do bitcoin accept as legal according to their constitutions? Is there any that 100% legalize? Thanks.

The country country in Asia that has declared bitcoin legal is Japan. Its the first country to do so. But I don't know if other country will make it legal though. There's a lot of debate inside and outside of a particular country so it make take years before another one legalized it. Its more of putting a regulation so that it will not be abuse or give protection to their citizens. That's is the main point of the Central Bank, because bitcoin is decentralized and they can't control it that's why bitcoin has getting a hard time being legalized.

http://www.businessinsider.com/bitcoin-price-spikes-as-japan-recognizes-it-as-a-legal-payment-method-2017-4

[reliable]

I believe they will declare it legal in the end. Even now in some European Countries there are Universities that accept payments for the tuition fees with BTC

Do not think they will declare it legal because they may try to bring their own currency which government will have control and would like to use that only so that it could be tracked easily and it will be under govt purview. Slowly they will put a ban on all other currency I think so or as per even some of the country view it seems to me the case.

[Lieldoryn]

How about in ASIA what countries do bitcoin accept as legal according to their constitutions? Is there any that 100% legalize? Thanks.

The country country in Asia that has declared bitcoin legal is Japan. Its the first country to do so. But I don't know if other country will make it legal though. There's a lot of debate inside and outside of a particular country so it make take years before another one legalized it. Its more of putting a regulation so that it will not be abuse or give protection to their citizens. That's is the main point of the Central Bank, because bitcoin is decentralized and they can't control it that's why bitcoin has getting a hard time being legalized.

http://www.businessinsider.com/bitcoin-price-spikes-as-japan-recognizes-it-as-a-legal-payment-method-2017-4

Actually it is not so. Japan considers bitcoin not as a currency. They recognize his tender. That means you can officially exchange it to yen, but to buy goods you can only in the national currency. Shops that accept bitcoins are required to convert them. To complete legalization for a long time.

[Irvinn]

Now the government of India still decides to recognize the crypto currency in their country as a means of payment or not. The Central Bank of India noted that there are certain problems in this issue, that there are some risks associated with the passage of the crypto currency, but then they allegedly decided to legitimize it. As it will be seen in the near future.