why do governments don't make BTC illegal worldwide ?

[souul]

At one time, Bitcoin will prove to everyone how useful it is to us. This is illegal in many countries. But many countries make it legal. They love Bitcoin. Their country started as a legal currency. So we think that soon Bitcoin is going to be introduced as the legal currency of other countries. Bitcoin has a bright future. It will not be destroyed

[bitcoinsocial09]

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 ?

As I can see the governments did not legalize the bitcoin because they see the bitcoin as a threat for them. We all know that bitcoin has no taxes so the bicoin will be legal there’s a lot of people will depend on bitcoin than the other job which you will pay taxes. And there is no tax payers the government fund will also also. Alao itvis threat for the banks because those interest for the banks will given into bitcoin.

[Golden Stake]

Lack of control over transactions that are made with cryptocurrencies scare both the governments and the banks. Cryptocurrencies are transferred thourgh peer to peer networks, and these processes make a lot of transactions occur on such platforms. Moreover, this transactions elude taxes that the government and banks would have imposed. This makes them lose funds that they could have generated through taxing all those transactions. This is evident in the fact that virtually all countries have their major source of funds from imposition of taxes on numerous business transactions and deals.

It's possible for governments to find a way out to accommodate legalizing cryptocurrencies rather than banning its operations. There are certainly great ways to make the cryptocurrencies work to favour every stakeholders.

[Winifredinme825]

That is a whole lot of government revenue that they would miss if done illegally. That's impossible. People exchanged it with fiat or anonymously as well. Anti-government types will still use it. Regardless, there is no real reason why they would make the BTC illegal anyway.

[Baronggot]

That is because not all countries around the world are in favor of shutting their doors for bitcoin. While others are closing the doors, others are also letting bitcoin in because they know this technology can be of big help in the economic progress of their country.

[denzkilim]

On what legal grounds?

Maybe in a totalitarian communist regime bitcoin can be made illegal, but in the free world a legal case would need to be made. I have never heard one, have you?

You don't need to live in a totalitarian and communist regime to experience banning of something. In EU for example, laws have been voted to ban glyphosate (Monsanto Roundup) use for example. In some countries of the free world some gov's plan to make the use of a bicycle with helmet illegal so why not BTC ? If a government judges it as a tool for money laundering they can decide to vote a law to make its use illegal.

Bitcoin is full of risks involved, starting from the virtual presence without a physical state to the risk of hacking. When a central controlled investment scheme goes as a scam, the people complain and the government take necessary action. With bitcoin lost is lost forever one can't raise it as an issue anywhere else. This makes governments stay away from bitcoin.

Bitcoin became a risk when greedy people think that this decentralized virtual currency can be a medium or means of investment and made it to reality. The sole purpose of Bitcoin is to simplify our payment and monetary system to make lives easier but look at Bitcoin today it become an asset more than a currency what is supposed to be.

Some governments are very optimistic even they know that Bitcoin or other forms of crypto currencies are too risky and its value is very volatile they still believe that this technology will surpass its downside in the future when the majority of the countries implement rules and regulations on crypto currencies. But some government see it as a threat and fear that the money of their citizens is at risk of being stolen that's why they are banning the usage and possession of crypto currencies in their country.

[cryptoalfs76]

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 ?

Mostly the real reason why should the government,can't declare bitcoins illegaly to operate worldwide,because they know the main purpose of cryptocurrency then why should its been created is to cultivate economic growth and promote social responsibility globally and not to create havoc or some illegal activities in the worldwide market,as just what like other thinking of cryptocurrency investment.while in other hands crypto is not a threat to the banks,instead its will help collaborate in banks to promote the world currency monetary fund.

[RiskySanchez]

On what legal grounds?

Maybe in a totalitarian communist regime bitcoin can be made illegal, but in the free world a legal case would need to be made. I have never heard one, have you?

You don't need to live in a totalitarian and communist regime to experience banning of something. In EU for example, laws have been voted to ban glyphosate (Monsanto Roundup) use for example. In some countries of the free world some gov's plan to make the use of a bicycle with helmet illegal so why not BTC ? If a government judges it as a tool for money laundering they can decide to vote a law to make its use illegal.

Bitcoin is full of risks involved, starting from the virtual presence without a physical state to the risk of hacking. When a central controlled investment scheme goes as a scam, the people complain and the government take necessary action. With bitcoin lost is lost forever one can't raise it as an issue anywhere else. This makes governments stay away from bitcoin.

Bitcoin became a risk when greedy people think that this decentralized virtual currency can be a medium or means of investment and made it to reality. The sole purpose of Bitcoin is to simplify our payment and monetary system to make lives easier but look at Bitcoin today it become an asset more than a currency what is supposed to be.

Some governments are very optimistic even they know that Bitcoin or other forms of crypto currencies are too risky and its value is very volatile they still believe that this technology will surpass its downside in the future when the majority of the countries implement rules and regulations on crypto currencies. But some government see it as a threat and fear that the money of their citizens is at risk of being stolen that's why they are banning the usage and possession of crypto currencies in their country.

and this is the answer of some countries that legalize and which is not https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory, many problems and politics faced by every country to Bitcoin especially in terms of economic regulation and consider bitcoin as private money

[mudra102]

if the Government of any country is not satisfied that he is just making a ban in their country just started using bitcoin between countries and has no authority to ban Bitcoin around the world. Again every Government has no authority to impose a bitcoin ban around the world

[jayanath123]

i hope government and banks change there attitudes.so more improvement to will be develop 

[florianuhlemann]

I think that these two institutions - cryptography and the government - should cooperate with each other, because this will lead to even greater growth and openness of all users

[Fuhre]

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 ?

that's right, cryptography is a threat to state government. threatening the country's economy. I am not sure this is a threat to the economy of the country. which certainly the level of corruption can be prevented. they just need to make it happen but for some reason they are still strictly forbid the use of bitcoin or other altcoin.

[dilshanfernando]

It is currently exceptionally troublesome for governments to forbid the utilization of digital currency to their subjects. From one viewpoint, a popularity based government must consider the perspectives of its residents, and as occasions in a few nations have appeared, they are exceptionally dynamic in shielding their entitlement to utilize it. Then again, it is troublesome even to do it absolutely from a useful perspective. Issue a request, proclaim, the law on this preclusion is conceivable, however it is difficult to check its usage. This administration will just drive the utilization of cryptographic money into the shadows. Thusly, it is constantly better for him to take measures to manage the cryptographic money and introduce at the same time imposes on the digital currency.

[spadaccino]

Because they CANNOT ! Simple as that!
It's decentralised so nobody can stop unless as I think they are buying as much as they can so they in some way can control and regulate in right time without telling worldwide.

It's a great opportunity for shark and whales to enter right now..

[mazesta]

Maybe they (the government) are afraid of bitcoin being abused, they are afraid bitcoin is used for money laundering as a result of corruption. perhaps that's why many countries have not legalized Bitcoin.

[Dangdingdongbray]

There are many factors that affect it,Due to different problems or different reasons of each government agency in the world.Yes indeed there are some institutions that have common thoughts and principles that are approved by each government or country.But in these modern times,these agencies only regulate the lands and oceans of each country.Yes we do the World Bank who somehow has the power to regulate the world's cash flow. But in the case of bitcoin,there is no government joint agency that regulates bitcoin flow.

[Gaurav11kb]

No govt can make it illegal as it is decentralised. Govt of any country can ban the trading with crypto if they think it is a threat to their economy but sooner or later all countries will accept crypto

[maxti]

Goverments can't technically eliminate Bitcoin, but they can probably force it to be a currency that in polite company marks you as a criminal

[Tashi]

Governments have different perspectives when it comes to Bitcoin. For them it may be a threat for their national currency  or an advantage for economic growth for their country

[a.kaetana]

Gov's already showed their professionalism in war against drugs, Judging by gossips they try to be more subtle with crypto. "If you can't defeat it, lead it", you know. Plus bitcoin has it's advantages for intelligence services.