why some country still not legalized bitcoin ?

[jlanzago]

In reality Bitcoin itself does not need to be legalized. It is just a ledger - public and unbreachable because it is on the blockchain.
Now, what may be legal or not is its use as currency, or the trading of it (the exchanges).

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[Asusnumbaone]

I seen some big country started to legalized bitcoin like japan, but i seen some country was ban bitcoin too just like what i hear about south korean and issues about russian will ban bitcoin in next month.
But why they ban bitcoin and some country still not make bitcoin legal in that country ?

Bitcoin are still not legalized in some country because of the some matter. For example, people are too ignorant to see its potential in the future. They are afraid because of the fact that bitcoin is powerful and anonymous. Another factor is tradition and trade marks. It will be hard for some people to move forward and accept this change because they are more used to use the other currency. Another is government, the government know the potential of the bitcoins and it will affects the economy of the country. If bitcoin is discovered or known around the world it will be a problem to the government because some people might just mine or invest in bitcoin rather to work.

[Miles123]

Here in my country Bitcoin is not legal because this forum it's not known. Some countries don't believe and there is no reason to legalize this site. But I think they can't legalize the bitcoin because it is a digital money.

[Julia_bitcoin]

I think because
1) Bitcoin, like other electronic currencies, can be used for money laundering or for tax evasion
2) The system does not have a monitoring center, so it will not work out in order to appeal or reverse the transaction in the reverse order.
3) Virtual money does not have security
4) Propaganda of Bitcoin carries a threat to the financial system

[ardhigalau]

Many things why it can happen, one of which is because a country wants to keep its own currency. Because if the bitcoin is legal in a country, it is feared that the main currency of the country will be eliminated.

[centralbanksequalsbombs]

OP, WHAT are you talking about?

Nearly ALL COUNTRIES have banned bitcoin related bank transactions for more than four years (since 2013).

Bitcoin has been banned all over the world by all big banks in nearly all countries since 2013 (for over 4-years) and the banks have completely failed at stopping Bitcoin. Just try to do a bank transaction say its for "Bitcoin" and watch your transaction be blocked for review.

Everyone in all countries are still finding a way to get Bitcoins. They simply never say "Bitcoin" when dealing with banks. People are smart.

Central banks directed a worldwide war on bitcoin since 2013 and have utterly failed.

They cannot stop or even slow-down Bitcoin. Adoption is actually accelerating. Nearly 1% adopted by world population and increasing. Currently, Bitcoin's total market is valued at more than $110 Billion USD.

Amazing to see global trade growth on localbitcoins as well (scroll down to see all the individual countries):
https://coin.dance/volume/localbitcoins     :

[milandres0207]

there are many reason why some countries ban bitcoin, some are they don't want to use digital currency and they are only focus on their local money and i think some of them choice to invest on what their country develop, or in the bank that their country more stable. some also may ignore the bitcoin and don't want to transact using it.

[deviant99]

Some country ban bitcoins because they’ve seen bitcoin as a threat to their centrally-controlled. Just like Vietnam, Iceland , Bangladesh and many more. Maybe if bitcoin will always give good feedbacks maybe in the future bitcoin now is for worldwide.

[Erlinda Santiago]

Because some country are afraids because they might have a business terrorist attack so they dont want to eagalized the bitcoin in the country

[100%succes]

I seen some big country started to legalized bitcoin like japan, but i seen some country was ban bitcoin too just like what i hear about south korean and issues about russian will ban bitcoin in next month.
But why they ban bitcoin and some country still not make bitcoin legal in that country ?

my opinion The status of bitcoin legality varies by country. It all depends on each regulation set by its government. Until now in some countries that have legalized transactions using bitcoin alone still do not have a clear regulation.

[DoublerHunter]

I seen some big country started to legalized bitcoin like japan, but i seen some country was ban bitcoin too just like what i hear about south korean and issues about russian will ban bitcoin in next month.
But why they ban bitcoin and some country still not make bitcoin legal in that country ?

my opinion The status of bitcoin legality varies by country. It all depends on each regulation set by its government. Until now in some countries that have legalized transactions using bitcoin alone still do not have a clear regulation.

I agree with you. The legality of bitcoin is depending on the policies of a country and if a country will make a law or policy that will allow bitcoin then bitcoin will be legalized but if a country is very strict then legalization of bitcoin will not happen like in some countries. Bitcoin is still on the progress and on the stage of proving itself that it is a good currency so we need to still wait for the most of the country to make a legalization for bitcoin.

[jassanpary]

Might be they are thinking that bitcoin is not a conventional type of currency, it's a digital mode of currency and they have fear of economic imbalance

[Abebittalk23]

One contributing factor as to why many countries have not legalized/adopted bitcoin is currency control. Bitcoin to the best of my knowledge is a peer to peer transaction and a transaction conducted in such a manner that removes a degree of control many governments and central banks are used to having when it comes to fiat currency. Simply put if you were a government in a developing nation or a country in a fragile economic situation and a currency existed that did not allow you to directly govern or regulate it would you allow it? It is a play to maintain sovereignty, but a backwards attempt to say the least. Peer to peer transactions represent the end game for fiat currency, government backed or produced currency. Bitcoin is the future and many governments are afraid of it because they do not have any idea how to gain a degree a control over it. In my opinion since many countries around the world have their currency backed up in USD it will ultimately come down to what the federal reserve does in the next ten years with regard to bitcoin.

[thenameisjay]

I seen some big country started to legalized bitcoin like japan, but i seen some country was ban bitcoin too just like what i hear about south korean and issues about russian will ban bitcoin in next month.
But why they ban bitcoin and some country still not make bitcoin legal in that country ?

I think the point of the government not legalizing bitcoins in countries is because they don't know how to handle bitcoins. They don't know what to do with bitcoins but they think it's getting a huge buzz in their financial systems therefore they are temporarily banning bitcoins. They're studying bitcoins first before allowing them in their countries.

[Ingoats]

I seen some big country started to legalized bitcoin like japan, but i seen some country was ban bitcoin too just like what i hear about south korean and issues about russian will ban bitcoin in next month.
But why they ban bitcoin and some country still not make bitcoin legal in that country ?

Maybe the legalization issue has to do with the characteristic of Bitcoin being decentralized. Bitcoin is decentralized so it means that government has no control to it and greedy governments won't be able to tax the profit that its users and investors are having. Ofcourse if ithey won't benefit to Bitcoin, they won't see any reason of making it legal.

[Cointribute]

People are increasingly using Bitcoin so that's should backed by any government.

[weishao]

Because Bitcoin is uncontrollable, some governments bar Bitcoin because it believes that Bitcoin can damage the economy of its own country. Bitcoin is anonymous, bitcoin is used by criminals, criminals use bitcoin to launder money or buy drugs or guns, and the government can not track criminals, so some governments bar Bitcoin.

[Aufar]

There are many reasons why some countries ban bitcoin, some do not want to use digital currency and they only focus on their local money and I think some of them choose to invest in what their country develops,

Here are 16 Countries That Prohibit the Use of Digital Currencies Bitcoin:

1. Australia
2. Bangladesh
3. Brazil
4. Bolivia
5. Canada
6. China
7. Equador
8. Finland
9. Hongkong
10. India
11. Israel
12. Kyrgyzstan
13. Russia
14. Taiwan
15. England
16. United States

[olliepearl]

According to what I've read. Here in my country, which is Philippines, Bitcoin Exchange services are now registered with the Central Bank of the Philippines. The Central Bank of the Philippines recently mentioned how Bitcoin is becoming popular here in the Philippines. But Central Bank of the Philippines wants to manage the risks involved with cryptocurrencies. Because they want to prevent some people to inject dirty money into the country through Bitcoins that gets converted to Pesos.

[carlisle1]

Even if other countries dont legalize bitcoin.it doesnt mean crypto will be stopped.so why bother about legalizing bitcoin when we still enjoy its benefits.and other than that those countries that dont legalize bitcoin still thier people uses crypto