why do governments don't make BTC illegal worldwide ?

[DisWhale]

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.

[iMark]

this may be because bitcoin is too horrible and unstable, bitcoin prices are always moving up and down to make bitcoin does not make the government legalize bitcoin in the worldwide, indeed technology owned bitcoin very sophisticated and very strong but bitcoin prices will never stable, maybe that's what making the government reluctant to legalize bitcoin.

I think the government does not care about the fluctuations of bitcoin, they forbid because they get the threat of bitcoin, imagine their income from tax may decrease when bitcoin is popular and used by many people, many people hide their wealth and income, so it's natural if the government forbids it

[bungsoh]

Should not bitcoin be considered a nightmare. but bitcoin is a challenge for Banks and related agencies to learn more about it. If an agency (including a Bank) claims to be great, sophisticated, of high quality, it should not be difficult to learn the other bitcoins and cryptocurrencies. If bitcoin is bad then there will be no world class Investors who will invest in bitcoin. But the reality is the opposite.

[Leo Barnes]

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 ?

Because of some country believe in bitcoin and cryptocurrency some of them still study on how to regulate the digital currency.

[ranman09]

Some government maybe don't know how they will manage bitcoin or legalize it thats why they made it illegal. Some countries are good enough to think that they can profit more in taxes on this that's whay they manage it. And they are actually good.

[egberthill]

No government doesn't like money and the cryptocurrency industry is worth billions .Bitcoin ain't no threat to no body, some body in China farts and a few hours later a big storm hits crypto, they place their agents as speculators into the Bitcoin's society and they are essentially controlling the market, they are not in control of the supply but they are manipulating the price.

[bitcoinvestor]

now it's too late. The world is not unipolar and a ban in one state would cause all the money will go to another state. The cat will go for it? The government just don't know what to do with bitcoin. This is the calm before the storm.

It is too late now. The growth of cryptocommunity is very big now. Thay have called attention in their homeland. In indonesia Bitcoin and other digital asset treat as the commodity. It means the govt legalize holding, mining, and trading even not allowed to use as the means of transaction. In SOuth korea the community is growing too. In Japan is legal and in HOngkong and SIngapore is legal too

[BTC_BTC]

I think it will be difficult for the government to make the same policy, obviously there will be differences of opinion and also contradictions from various parties. In addition, with bitcoin legalization in all countries does not guarantee the survival of bitcoin and crypto money, it could be that the government legalizes bitcoin just so they can manage and utilize bitcoin not just because bitcoin wants to advance the world economy.

[rajkr]

Government will not make it illegal as such. Because the future of banking system will be block chain technology.Government will impose taxes on its trading.Why will they loose their revenue source?Only problem is its use.So they can try to control its use.BTC is not limited to any single territory. So banning it ia big deal.

[TheClownSong]

Government can not make bitcoin or others cryptocurrency illegal because its decentralized. If the data not storage in certain country, no one country can called illegal because no one regulation bind it

[honey7]

It has not been declared illegal as govt also started realising the important of bitcoin. It can wudely be usedto make transactions  and also can boost country's economy.

[Tylev]

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 ?

For states, decentralized crypto currency will indeed bring and bring more problems than good. States as a whole will be able to superficially regulate the circulation of such a crypto currency for the population, although they themselves are most likely to use only centralized crypto currency. The use of the current decentralized crypto-currency of the state will gradually be limited by its strict rules, this will be inevitable in the future. Indeed, the states can no longer prohibit the decentralized crypto currency completely at once, but will introduce various restrictions on it, so that people themselves will refuse to use it. Confrontation in this regard between people and states is yet to come.

[2018hodelmabanal]

If bitcoin is widely used, it will weaken the rights and interests of the government. This is why the government does not welcome bitcoin.

[barabarian1]

one of the reasons crypto still not legalized because the government will be difficult to supervise and control the user crypto. because crypto is very vulnerable to crime, corruption, money laundering. and crypto users are hard to track. and crypto will have a big impact on local banks because customers will switch to using crypto for investment tools.

[vonnyaries]

to makes the policy that legal in all country in the world is not easy, its need confirmation from all country about the policy, and maybe it take a long time to realize it, so the govertnment just can make the bitcoin illegal in their country, because they just make the policy in their country only and need confrimation from the president

[BellamyWilliams]

All the governments are helpless.They know very well that bitcoin would be a direct threat to their taxing revenues  and they could not trace all the bitcoin transactions. They want people to have a better future, and they know that bitcoin can help them. So that there is some countries don't ban bitcoin but there is rules in using it.

[Phinoy]

In my opinion, the government can not prohibit BTC, because in its existence BTC will help the state finance someday, so if they prohibit BTC entering the country, I think they only narrow the income economy of small people who earn only by searching BTC.

It can't be illegal because BTC do not work in illegal way if it's illegal in the first place they already shot it down but they didn't it's because some government already evolve in it. Governments probably cannot shut it down through "technical" means, i.e. hacking the system, thus crashing the value or preventing it from working. So there is no reason government make BTC illegal.

[rfj]

Indeed. Bitcoin and other digital currency is a real threat to bank system and government as well all know that the two are tightly linked. And being decentralized makes it hard to regulate, coming to a policy will be also difficult.

[Soots]

Indeed. Bitcoin and other digital currency is a real threat to bank system and government as well all know that the two are tightly linked. And being decentralized makes it hard to regulate, coming to a policy will be also difficult.

Yes, I think that'sthe main reason. Bitcoin and oyher crypto currency has hug threat in Banks all over the world. The decentralization and the other cause like the paperless money transaction and other things might be the resons why governments disagree about legalization of bitcoin. I think the tax free transaction are one of the reasons to if bitcoin will be legal the tax payments will be less than the usual they earn because as of now bitcoin don't pay tax and if ever they will make bitcoin taxable it need to be formalise a d some papers and negotiation need to do. All I mentioned was just my opinions.

[Statedapps]

Or could it be a win for them ?

They properly seized a lot already so owning them as well.