Why Bitcoin is not regulated in some countries?

[Upliketitanic44]

Some says, Bitcoin is legal and few says it's not. May I know the reason why it is not legal to use Bitcoin in some countries, for example, in my country, we are not allowed to use Bitcoin to purchase any items or goods. Why they can't legalize it? What was the reason behind it?

[HaXX0R1337]

Some says, Bitcoin is legal and few says it's not. May I know the reason why it is not legal to use Bitcoin in some countries, for example, in my country, we are not allowed to use Bitcoin to purchase any items or goods. Why they can't legalize it? What was the reason behind it?

You need to have rules and regulations to use something as a currency and if your country does not allow it,there is nothing you could do and from what i understand only a few countries ban bitcoin and it is simply because of ignorance and nothing else,it is a new technology and down the line in coming years they might legalize it.

[riskthebiscuit]

The reason is simple = government & power. They want to control how things are dictated and controlled as well as consumed.

So when something revolutionary comes up that they simply cannot stop by any means it will frustrate governments. Some will learn to accept and embrace the future (Switzerland, Japan, Singapore), others will be neutral, while others will out right hate the innovation.

It seems as though the brighter and wealthier nations are embracing the change with open arms which is very encouraging. It is only a matter of time before all the walls are gone and bitcoin will be known as a global currency. One day soon

[craZyLovE0916]

The reason is simple = government & power. They want to control how things are dictated and controlled as well as consumed.

So when something revolutionary comes up that they simply cannot stop by any means it will frustrate governments. Some will learn to accept and embrace the future (Switzerland, Japan, Singapore), others will be neutral, while others will out right hate the innovation.

It seems as though the brighter and wealthier nations are embracing the change with open arms which is very encouraging. It is only a matter of time before all the walls are gone and bitcoin will be known as a global currency. One day soon

It is very easy for governments to control crypto, as we are seeing this past week.

BTC-e with servers in Russia - shut down by FBI. Poloniex - shut down by FBI.

All they need to do is take down the exchanges and cryptocurrency cannot survive. The masses simply will not and cannot accept something that is hard to get started with. Bitcoin is hard enough to explain as it is. What happens when the exchanges are blocked/shut down by the government and they want to know how they can buy some? Yeah... they won't.

[riskthebiscuit]

It is very easy for governments to control crypto, as we are seeing this past week.

BTC-e with servers in Russia - shut down by FBI. Poloniex - shut down by FBI.

All they need to do is take down the exchanges and cryptocurrency cannot survive. The masses simply will not and cannot accept something that is hard to get started with. Bitcoin is hard enough to explain as it is. What happens when the exchanges are blocked/shut down by the government and they want to know how they can buy some? Yeah... they won't.

Ill concede that government does have some power and I think right now they are desperately trying hail marys do stop what is inevitable in my eyes. And it does make sense for them, either regulate the flow of money or become a slave to it how individuals are to countries now.

It is kind of like how torrents website are seized by the government but then new ones always pop up. They will never die. Same thing there. Exchanges will open up in safer regulated countries and the world will proceed forward. Thats how I see it anyhow

[affandi]

Each country has a different system of government. The country where I live is the same, not all of them know bitcoin. Few people know this. The ones doing bitcoin trades are just individuals. It may take a long time to legalize bitcoin in my country, or it may never happen.

[Tipstar]

Some says, Bitcoin is legal and few says it's not. May I know the reason why it is not legal to use Bitcoin in some countries, for example, in my country, we are not allowed to use Bitcoin to purchase any items or goods. Why they can't legalize it? What was the reason behind it?

Bitcoin as its nature can't be regulated. So, it has a serious disadvantage to the government, it evades custom and tax.
Bitcoin is also said to be illegal in my country. But with the lack of any rules regarding the use of bitcoin. We can see many hotels and shops hanging Bitcoin accepted here signs.

[De Suga09]

Because other countries think that bitcoin is a trash and has no sense that can help our country to increase and to grow in terms of their financial prospects,But many countries are legalizing bitcoins.And this can be disadvantage to our government they say because cash and their own currency will decrease.

[thesavoyard]

 Some countries only allow their issued money to be used as legal tender. There is always the underground though. Just be careful.

[YellowWP]

https://www.thebalance.com/iceland-time-to-free-bitcoin-4030896

This is a pretty interesting read in this context, on how some countries deal with bitcoin and why embracing bitcoin might be a much better approach financially.

[Karmakid]

Some says, Bitcoin is legal and few says it's not. May I know the reason why it is not legal to use Bitcoin in some countries, for example, in my country, we are not allowed to use Bitcoin to purchase any items or goods. Why they can't legalize it? What was the reason behind it?

I'm not quite sure why, but I think it all depends on the establishments or maybe the government if they will allow transactions through crypto currencies. In my country, only few establishment honor BTC as payment. Maybe government also has something to do with it. Maybe your government doesn't want to honor it because they don't have full control over it.

[JeffBrad12]

Some says, Bitcoin is legal and few says it's not. May I know the reason why it is not legal to use Bitcoin in some countries, for example, in my country, we are not allowed to use Bitcoin to purchase any items or goods. Why they can't legalize it? What was the reason behind it?

Bitcoin is an example about the free financial for us. Bitcoin doesn't need the regulate. Bitcoin can stand with its legs. Your opinion doesn't make sense. But i have a question for you. and so, are you want bitcoin to get a tax by the government? or you must verify your self before using the bitcoin? Does it look good for you to happen in the future?

[umbara ardian]

Why some countries do not legalize bitcoin is actually a pretty difficult question, to be answered because even though the country does not legalize bitcoin but bitcoin users a lot in that country. This is real same as my country does not legalize bitcoin but its bitcoin users a lot. Actually why it is not legalized I'm sure bitcoin can promote the economy though not thorough, the government many say bitcoin is not a legitimate payment because there are still many weaknesses in bitcoin.

[Cootie]

I think the reason why it is unregulated is that no one can ever take control of regulating it. Bitcoin is all over the internet, because of its popularity, regulating it only means regulating the internet. Another reason is maybe bitcoin is not that popular in their place or they have no pure idea about these things.  Maybe others have the ability to control and regulate the flow of bitcoins because they have strict policy on their internet usage in their country. But they can't be sure if they have the full control of it in their place

[quarkyplum]

Some says, Bitcoin is legal and few says it's not. May I know the reason why it is not legal to use Bitcoin in some countries, for example, in my country, we are not allowed to use Bitcoin to purchase any items or goods. Why they can't legalize it? What was the reason behind it?

Bitcoin is an example about the free financial for us. Bitcoin doesn't need the regulate. Bitcoin can stand with its legs. Your opinion doesn't make sense. But i have a question for you. and so, are you want bitcoin to get a tax by the government? or you must verify your self before using the bitcoin? Does it look good for you to happen in the future?

But if Bitcoin not legal in most country on the world, BTC-e is a issue for example this future. Remember Bitmixer has confirm in current Bitcoin not anonymous as our think and the time government control Bitcoin will be soon because for the future of Bitcoin popular than with many people on the world's.

[BitcoinHodler]

apart from 1 or 2 countries which clearly said bitcoin is illegal (one that i remember is Bangladesh) the rest have nothing against it. bitcoin is legal there.
what it is not is bitcoin is not regulated. it is a little different. the coin.dance website actually has some good information on this topic in their politics section that you can look at.
and the reason is usually because they are either not sure yet or the adoption is nowhere near big to start talking about regulating it.

[swissgang]

Bitcoin is usually not illegal but not regulated in many countries that does not mean it is illegal, it needs more time to be adopted by the government.

[adam1230]

Bitcoin is not regulated in any country. So Its not legal ol illegal. Its a crypto Currency. If you are talking about why Federal Banks not use Bitcoin the answer is they are going to use (Do you Remember FED Yellen Photo ?)

[leexhin]

Some says, Bitcoin is legal and few says it's not. May I know the reason why it is not legal to use Bitcoin in some countries, for example, in my country, we are not allowed to use Bitcoin to purchase any items or goods. Why they can't legalize it? What was the reason behind it?

Maybe it's just because their government is not allowing it in their country. I'm not quite sure about this because here in our country some business accepts bitcoin transactions and I don't even know if our government even has some rule about cryptocurrency and if they are even concerned with it.

[Gens09]

Some says, Bitcoin is legal and few says it's not. May I know the reason why it is not legal to use Bitcoin in some countries, for example, in my country, we are not allowed to use Bitcoin to purchase any items or goods. Why they can't legalize it? What was the reason behind it?

Bitcoin has no legal obligations. Since this operates online. We cannot find any Bitcoin building or office,no definite company or heads. At the same time no legal ties or the government has no profit from it.