Why Bitcoin is not regulated in some countries?

[Noore Najjar]

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?

happen on my country once, government though this was illegal things and used to scam people , but right now they start to trust bitcoin and on some location especially bali , we already got bitcoin atm machine which is nice and also legal to purchase through bitcoin right since many people already know bitcoin as online payment

[smsohag]

Every country have different system of currency. Some country take easy about BTC and some country have not. That's it!

[khan149]

I have also heard that in many countries, Bitcoin is illegal.The government of those countries thinks that because of the Bitcoin digital currency, the country's economy will have a very harmful effect.

[Wintersoldier]

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.

Countries support is very vital in the development and the wide spread of Bitcoin because if a specific country will not support Bitcoin and it is not open on accepting it as a currecny it may be a failed on having regulated on  transaction. So the best thing to consider is to continue to support it as it to have development for other countries to see the future out of Bitcoin and in the future they will going to be open on accepting Bitcoin.

[sylance]

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 don't understand statements like this.  Why choose Bitcoin and at the same time recommend governments regulate it; if that's what you want just go the fiat route.  As for me, I want governments as far away from crypto as possible.  Yes that means some exchanges will scam customers, yes that means some ICO's will be scams, but I trust the power of the internet and crowds to eventually weed these out.  Also... NONE of these scams have come close to the largest of all, the 'printing' of trillions of dollars from the federal reserve.

[rejosh]

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.

When and where did poloniex shut down. I can still open this in the UK.

[Charot12345]

I think it’s because, in other country bitcoin is not legal and if the bitcoin become legal there’s a possibility that government will control it and about purchasing, they need to add tax or they can get tax from us like others who have a job with tax. If the government get involve in bitcoin, it’s decentralization will be abolish and can make bitcoin not secured unlike today.

[SokrieeE]

counties like USA & RU afraid to accept bitcoin officially because bitcoin system can not adapt\follow any system to put sanction on persons \countries .

[sylance]

I think it’s because, in other country bitcoin is not legal and if the bitcoin become legal there’s a possibility that government will control it and about purchasing, they need to add tax or they can get tax from us like others who have a job with tax. If the government get involve in bitcoin, it’s decentralization will be abolish and can make bitcoin not secured unlike today.

That's why we have to speak out when governments try to regulate/control crypto.  And... we need to not run directly to the government when things go wrong.  We can't have it both ways... we can't say we want a deregulated crypto but at the same time ask governments to step in when someone scams us of money.  As I said before, I want governments as far away from my crypto as possible.

[Zicadis]

counties like USA & RU afraid to accept bitcoin officially because bitcoin system can not adapt\follow any system to put sanction on persons \countries .

You are very correct they do not want to jeopardise a system that allows them to impose sanctions on others, they will keep the fiat system running.
Other countries like Egypt have chosen not to to deal with it as its simply a virtual currency which isnt regarded as official money. Am sure if most superpower countries welcome bitcoin it will spread like a wild fire
https://www.cryptocoinsnews.com/egyptian-central-bank-shoots-down-bitcoin-adoption-rumor/

[anylic]

The reason behind it is that countries want to take control of inflation and interest rates. Everything on the economy are related to political issues and the existence of that country.

[YS84]

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

Yes its coming with the popularity among the people in the country regarding online investment or trading. With the limitations of the resources, how it could be popularize.  

[Argoo]

Each country has the right to establish rules for the use of crypto currency or to prohibit its use altogether. No country can interfere with this issue, since it is considered an internal matter of each state. Not all states have positively adopted the crypto currency, because it is not subject to control by the authorities. However, most industrialized countries have already recognized the legitimacy of the circulation of crypto-currencies within their country, introducing certain mechanisms for their regulation. This is the USA, Russia, China, Japan, Australia, etc. For other countries, it may take some time before they understand the essence of the digital currency and the inevitability of its spreading around the world.

[Bay_Harbour_Butcher]

of course very many countries that have not been able to receive bitcoin as a means of payment, because it is not legal, and the state can not legalize bitcoin, in because insight about bitcoin in society is still very low, of course bitcoin will be very difficult to understand by society

[Darknight31]

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.

Ofcourse every people lives in different countries and this countries differs in the way they run their goverment. I mean yes other countries may accept bitcoin but there will be countries that will not accept it, worst will not acknowledge it. It's because maybe they can't still see what benefits it can do for a person or his/her family.

[jerowacik]

Each country has different regulation and application to bitcoin and altcoin. they have their respective opinions when a currency is applied legally in the country. most of them are frightened by the extremely volatile fluctuations in bitcoin and altcoin prices. This is indeed a rational reason because of course the government does not want to make their country destroyed. our current task is to continue using bitcoin and altcoin because it can make the digital currency more stable. hopefully in the future digital currency can be one currency that is recognized by many countries in the world.

[tempe3penyet]

  Because the bitcoin is still legal.
  Why ? Because not everyone in every country knows what bitcoin is.
  a small number of people who know and know how to use it. One example is my own country is still legal.
   Maybe that's the reason why bitcoin is legal.

[irmasany]

I do not really know about the ban,
But it is the state's authority to take action, all of which there must be a clear reason.

Yes bitcoin is a virtual currency whose nature changes fox, is unstable, it is the underlying bitcoin is not guaranteed state or the state does not participate to bitcoin. That's what I know. And possibly wrong.

[gajebo]

which I know every country has a different policy different.
That underlying bitcoin is not always acceptable for some countries.
I can not explain what caused it. because it is the authority of a country to ban or close the askes for bitcoin.

[thesavoyard]

which I know every country has a different policy different.
That underlying bitcoin is not always acceptable for some countries.
I can not explain what caused it. because it is the authority of a country to ban or close the askes for bitcoin.

Countries that allow no financial autonomy won't allow crypto. Even in liberal western democracies, there has been a recent push to the right. Certain member countries in the EU and the US are looking more and more hostile to financial privacy, even though it is a right.