why do governments don't make BTC illegal worldwide ?

[DavidGBoydq232]

More money = more taxes, more jobs, better economic growth..etc
Any government with some sort of futuristic vision will already so everything they can do support cryptocurrencies and funnel that new wealth in their country.

[Sinancre]

In my opinion, the government can not prohibit the BTC, Personally, I believe that the main reason why governments do not make bitkoyn illegal is really not what is being violated here. I think that they only reduce the income economy of small people who earn only by searching for BTC.

[EdwardARiley109]

I think many of them want to. But they'd be denying their country from participating in a new asset class and industry.

[Buttermellow]

Simply because bitcoin is decentralized and with that governments and banks cannot control it or manipulate it. Hence if they no authority to control they have no gain or profit on bitcoin. Lately there are some changes on how government treats bitcoin nowadays, some countries already accepted it into their economies which a really a good news to all. It can attract more investors and stabilize the market's price and gives other countries an open mind to accept and embrace bitcoin as well.

Well it could be regulated and the government could also ban cryptocurrency yet it could not be declared as illegal because the bitcoin system is an independent system can work without any third parties that can manipulate the system and that is why it is not declared as an illegal since there are no complains against the system instead more are making positive towards their utilization of the system.

[Lukamovo918]

They can't ban bitcoin even if they want to. If governments ban fiat to crypto exchanges, they can effectively stop most trading and most bitcoin-related transactions overnight.

[luffyzxc]

I think why goverment accept the btc illegal in worldwide because they worried to have a competition to other project, and they want to be the number one project of the world business, and they want to have a highest income to earn.

[Zulasea globNebay]

I think the government has not been able to control the BTC so it has not been widely accepted.

[christina.arnigo]

Government cannot make the btc illegal worldwide because bitcoin is not linked or controlled by any financial institution.  The blockchain doesn't require any agency to operate it.  If the government will require to stop this, they cannot regulate the entire network.  Even the true identity of the wallet owner, it is very difficult to find the real person beyond a wallet.  They can also hide their identity by moving their wallet into offline form. If the government wants to stop it, it is very impossible for the government as of now to control anything that is digital

[guybrushthreepwood]

Government cannot make the btc illegal worldwide because bitcoin is not linked or controlled by any financial institution.  

Faulty argument. Just because the government doesn't issue it doesn't mean they can't control or police it in other aspects. Drugs like cocaine and heroin aren't linked or controlled by a government institution but they're still illegal and they police and punish their usage and distribution. Governments can't fully stop people from using bitcoin, but they can certainly regulate it and put restrictions in place that would hinder its use or even criminalize it and make it illegal. I don't know under what grounds but if they wanted to make life difficult for us they certainly could. I'm sure they could put some sort of ban on it being used as a currency or even prohibit people from using it as a speculative asset, but like I said, 'bans' likely wont come under the guise of illegality but just regulating it to death which will put off both investors and merchants alike from getting involved. Hopefully they won't and they'll see the benefits of allowing it themselves and the tax money they'd be missing out on, but they don't really see that with the legalization of drugs so who knows what their thinking or rationale would be for banning or regulating bitcoin in whatever capacity.

[Feuerbach]

I'm wondering this because is such a real threat to bank system and we all know how banks and governments are tightly linked !

BTC could make people more autonomous, self-resilient, being their own bank. You can use it like cash, making your transaction almost untraceable (or untraceable using e.g. monero or dash or laundry systems) : this is governments worst nightmare, isn't it ?

Perhaps your ideas about the banking system and the government are partially false. Also, the cryptocurrency can be regulated and kept under control.

[chuyengia2244]

There are many things not governments that can be legal or illegal around the world. Many global issues aren't easy to reach consensus, bitcoin itself and blockchain technology are future platforms, so some governments can not stop it.

[Janadara123]

Because they can't since Block-chain is so decentralized and it will not be tamed by regulations. There will be big fight with Cryptocurrencies and typical finance systems and I believe Crypto will win that war.

[Tunapress]

Most of the allegations governments hold against Bitcoin is that Bitcoin is used to fund terrorism and also involved in money laundering. These are all due to the anonymity issues attached with Bitcoin. Most governments are likely or ready to work or accept itcoin if its users are ready to give their true identity for verification purposes through KYC.

[HeXecutor]

Well ... at least the government has a lot to do with it ... but some things even it can not do. By law, you can certainly make bitcoin illegal in the territory of even the entire globe ... but this will not give the most positive effect. It would be much more effective to legalize bitcoin around the world and tax it ... as in many countries and gradually becoming

[Kusnechik]

Most likely, the governments of developed countries understand that the technologies that carry the crypto currency are the future.

[ishinn99]

Most likely, the governments of developed countries understand that the technologies that carry the crypto currency are the future.

Yes, the governments already seen a lot of good potentials and huge profit in the cryptocurrency world most specially with bitcoins. I am hoping that soon more countries will regulate it.

[PhuongVo2702]

I  think because the governments can't control BTC while BTC have a lot of disadvantage in protecting us from terrorism and drugs

[Sabana1952]

Hopefully they will and they'll see the benefits of allowing it themselves and the tax money they'd be missing out on, but they don't really see that with the legalization of drugs so who knows what their thinking or rationale would be for banning or regulating bitcoin in whatever capacity.

[ProstoCrypta]

They'll never agree with each other. And even if this happens, there is a country in which Bitcoin will be legalized and then this country can get a huge advantage in the future.

[kniheant2]

i think the government wants to control all the money that is put into bitcoin,There are only a few contries where the government fears bitcoin could be a danger when people use it to bring money out of the country.