Bitcoin being regulated in a country.

[xIIImaL]

Being that the government have no control over cryptocurrencies as they are fully decentralized, can bitcoin be regulated in a country?

No, none of the governments can regulate bitcoins. Because bitcoin is not specific to one country. People from all over the world use bitcoins. So how can a government regulate it? Its impossible. Its price depends on various factors. But government can do one thing. It can ban the usage of bitcoins and stop the services of bitcoin exchanges in that particular country like what China did recently but it can no way regulate it.

Once the bitcoin is been made as a legal money that concern country can regulate the bitcoin usage in their country alone. I don't how you understand about the regulation bills in your country. Like China none of the countries goes to ban the bitcoin even Korea also give a ban for ICO coins alone. That mostly damage to eth since it is been made using smart contract project. Japan can regulate the coin under and country's rules and regulations.

[dificanovi]

Being that the government have no control over cryptocurrencies as they are fully decentralized, can bitcoin be regulated in a country?

As far as I know, bitcoin can not be regulated by a country. The value of bitcoin is not specified by any country. However, the development of bitcoin depends a lot on the countries.

I strongly agree with you that bitcoin can not be governed by a country but bitcoin affects people in that country. Bitcoin is controlled by all its users worldwide. Bitcoin works only when there is full consensus among all users.

[J Gambler]

Being that the government have no control over cryptocurrencies as they are fully decentralized, can bitcoin be regulated in a country?

I Think that it can be. There are certain networks that can inhibit ones use of a network and it might be that they can devise a way to inhibit accessing bitcoin sites or app without regulation and I think that it is possinle but it is still a long way off.

[dimonstration]

Being that the government have no control over cryptocurrencies as they are fully decentralized, can bitcoin be regulated in a country?

As far as I know, bitcoin can not be regulated by a country. The value of bitcoin is not specified by any country. However, the development of bitcoin depends a lot on the countries.

I strongly agree with you that bitcoin can not be governed by a country but bitcoin affects people in that country. Bitcoin is controlled by all its users worldwide. Bitcoin works only when there is full consensus among all users.

As long as the users are believed on bitcoin then the users are getting more and more and they stay loyal on it then it may stay as the currency but for giving it a chance as being regulated are possible regular using more likely but the other term for this just like that the government pay attention on it I believe that government will never do that too.

[Ranly123]

Yes it can be regulated, but since some crypto are decentralized the government cant figure out all people whether they use bitcoin or not. Bitcoin will still live even when regulated in a country.

[Ilegendph]

Being that the government have no control over cryptocurrencies as they are fully decentralized, can bitcoin be regulated in a country?

As far as I know, bitcoin can not be regulated by a country. The value of bitcoin is not specified by any country. However, the development of bitcoin depends a lot on the countries.

Actually bitcoin is regulated in Philippines. They did it like bitcoin is stocks and by doing so it attracts more investor in the philippines exchanges. As far as I know, digital exchanges in that country is healthy because more and more people there get involve in bitcoin community.

[wellsontheja]

It can be regulated , but for bitcoin as far as i know bitcoin can't because the value of bitcoin isn't specified by any country and aside that bitcoin fully decentralized so bitcoin can't .

[mobnepal]

Being that the government have no control over cryptocurrencies as they are fully decentralized, can bitcoin be regulated in a country?

Yes government can't control bitcoin transactions and they also can't regulate all bitcoin transactions going in and out of the country.
What they can regulate or control is the local bitcoin trading platform registered in the country.

But few governments like ours don't know what actually is bitcoin and just tagged it as illegal activity.

[Wagako]

This is exactly what all the governments want. They want to control all transactions. they want to be able to prosecute buyers and sellers to stop some illegal actions can be easy made using bitcoin. As Bitcoin is decentralized, They can't change Bitcoin, They only try to stop people using it. In any situation a day all of them will accept bitcoin as a global currency.

Yes government wants to control bitcoin but definitely its not they dont have the power to control it because it is decentralized thats why they are regulating bitcoin. But for now bitcoin is now used by different countries as a means of payment.

[sofi@]

As much as the governments wants to regulate the market of bitcoin its quite impossible for now to do that because of the nature of bitcoin wven government cannit control and because of the idea that no one own the bitcoin and it is circulating in the market of different countries government need to study first and find their way to have control over bitcoin

[amaydel]

Being that the government have no control over cryptocurrencies as they are fully decentralized, can bitcoin be regulated in a country?

Yes it can be regulated so that means it's not decentralized anymore in the sense that the government intervenes on it. The bitcoins that you will earned in any form of business are also be held taxable following the laws imposed by the government.

[xiboothrezi]

Being that the government have no control over cryptocurrencies as they are fully decentralized, can bitcoin be regulated in a country?

I think it's hard to regulate bitcoin, because as you can see, bitcoin is decentralized and it can be earned online. It would be hard to prohibit or limit it's use as long as there's internet in your country. I'm sure if this happens, people will find other means to earn bitcoin even if it is banned.

However, it is still possible to regulate the use of Bitcoin as well as to regulate other financial systems. of course the rules of each binding country must be obeyed, because the government must regulate the domestic economic activities of the domestic market.

[Opquar]

They could be regulated in a sense that they could be taxed. Businesses that operate with Bitcoins will have no choice but to comply so they can get a permit. It will be harder for single traders, but you're going to have to do business with these Bitcoin businesses at some point, and that's where you get taxed.

[Fesatmas]

Being that the government have no control over cryptocurrencies as they are fully decentralized, can bitcoin be regulated in a country?

I think It's hard to any country to regulate the bitcoin. Any countries want to control Bitcoin but they can't because Bitcoin is decentralized. That's why many countries forbid people not to use Bitcoin.

[Endo_HSP]

Australia = so far, bitcoin not considered a financial product (which is good). That will likely change when the govt realises how much cash it's missing out on.

[Getcoinsite]

Being that the government have no control over cryptocurrencies as they are fully decentralized, can bitcoin be regulated in a country?

Hoping that they shouldnt regulated bitcoin to the country because it benefit us a lot.

lets make clear what REGULATED MEANS...regulated in the sense that government will just have an EYE and vision what bitcoin is all about.,and getting tax on it.coz as of now..only the money order system is the one whos having benefits from us,nit the government

[carlerha]

The government should have a minimum of influence on the bitcoin network, and they should not regulate bitcoin. It is necessary that a mechanism be developed to ensure that bitcoin was regulated only by the community of bitcoins

It will be the end of bitcoin when it became regulated by someone because due to decentralize feature bitcoin is growing very fast in the market regarding popularity. No one country of the world has the ability to control bitcoin according to their well and currently no any country has succeeded to overcome the issue of bitcoin regulation in the world that’s why bitcoin is more attractive for people.

[mevmike]

government could not be able to regulate cryptocurrency since they have no autonomy over it.
which is why the only thing they are doing right now is regulating exchangers.
since this business entities need to have permits from the government.
as of today this is the only regulation i can think of government can do with cryptocurrencies...

[sonic212]

this is what all countries want them to control all transactions they want to be able to prosecute buyers and sellers to stop illegal acts that can be easily done using bitcoins because decentralized bitcoins they can not change bitcoin under any circumstances they will all accept bitcoin as global currency.

[avilasmith]

This is exactly what all the governments want. They want to control all transactions. they want to be able to prosecute buyers and sellers to stop some illegal actions can be easy made using bitcoin. As Bitcoin is decentralized, They can't change Bitcoin, They only try to stop people using it. In any situation a day all of them will accept bitcoin as a global currency.

Currently, the crypto-currency is neither illegal nor legal in India
The government is considering the introduction of a regulatory regime for virtual or crypto-currencies, such as Bitcoin, that would enable the levy of the Goods and Services Tax on their sale.