Legalizing Bitcoin

[queenhallmark]

Governments can easily legalize bitcoin by passing a law, but I think it would be difficult for them to control bitcoin transacctions since bitcoin is anonymous. For users it would be clarifying in order to change bitcoin to fiat, but if the network can function by itself and make transacctions p2p I don't see what the role of states will be and what justification they can invent to tax activities.

Actually this is main reason. Governments know better what the advantages bitcoin is carrying along are but they only waiting for the time that may be in upcoming future bitcoin’s feature i.e. decentralized would be changed and all these governments can control the yes and no of bitcoin. But we hope a time come in near future when all this happens and we would be enjoying the perks.

you also have a point, and it seems that it is actually true, but it could be no also. the big participation of the government and the most positive way to help bitcoin grow is by legalizing and actually accepting it as another method of payment, but as usual it will take too long before it will happen, besides there are lots of hindrances before they can pass a law and start to debate if it will be finalized or not.

The legalization of the bitcoin depend on the government, they can legalize it but they have already great deals with banks and banks does not like the bitcoin. Because bitcoin is useful for a common people , therefor people are now going toward bitcoin, By this banks are against of bitcoins. Due to the banks the government also slow in the process to make the bitcoin is a legal currency.

[1715609506]

1715609506

[1715609506]

1715609506

[1715609506]

1715609506

[1715609506]

1715609506

[TomUyamot]

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country. 

While some other countries are strongly opposed to Bitcoin and other cryptocurrencies, others are very much open to it. There are also some others that remain indifferent about their existence. It is up to the people to join or not. The government is not imposing any law banning or legalizing it. Regulating Bitcoin is very easy because the government is the most powerful entity in any country. They are the ones that will tell what will be allowed to run in their country. They may ban all sites, shops, applications, etc that are all related to Bitcoin. Legalizing Bitcoin is good because it is providing their people an option and a way to invest. They may also earn from it through taxes. 

[Asmonist]

This is really important especially that bitcoin had been this far. Many have earning and making a living with it. This is the time to make it legalize to answer every doubts and speculations. In this way also we can eliminate the illegal activities. It will encourage also many people to invest in bitcoin especially when it will be formally legalized.

[poisonivy77]

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country. 

I believe there is no way bitcoin would be legalized the government would be the very first institution  who would go against it. One reason why it is not possible is because it will be a threat to current currency.

[Requim]

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country. 

Legalizing bitcoin has it's pros and cons. We must understand that there are factors that may be affected by the legalization of bitcoin. It could be positive or negative for us. That's why we need to study the situation first before agreeing or disagreeing.

[turagsoy123456]

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country. 

Legalizing Bitcoin is apropriate in the country.because many people can benifits this investment and also it can help our economic growth.

[saniales]

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country. 

Well, in countries like Japan where the interest rates are negative having some overseas investment is always good and bitcoin essentially facilitates that. But previously if i remember correctly, it was taxed wrongfully and now that they've removed that.

You're right, in most countries bitcoin is just sort of a neutral figure.

It doesn't really have anything to do with the central bank, since it is completely independent anyways.

Well, probably Japan is the most favourable country from this point of view

[lenovo16]

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country. 

Well I think if the country , legalize bitcoin in their state. I think the first thing that they could do , is to put a tax for every transaction of bitcoin. By that way they could get a share from it. They can collected fund that will soon help the economy of the country. Aside from that , when a lot of people in the country are using bitcoin , then they can actually help the living and lifestyle of the people living in this country.

[JTEN18]

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country. 

Legalizing Bitcoin is apropriate in the country.because many people can benifits this investment and also it can help our economic growth.

Once the bitcoin becomes legal to every country we will all benefit from it and by that time many people will eventually encouraged to by bitcoin more than they can, but of course we know that there are still countries that does not accept bitcoin in their country and it won't matter to the price of course.

[Krillin61]

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country. 

If bitcoin will be legalize by government for sure they will put a tax upon it so that they can get a profit from it or maybe they will try to control the bitcoin transaction in one country. Having an illegal and legal bitcoin transaction will have an consequences whether positive or not.  For me it is better if it is neither declared legal or illegal.

[Al Amin]

I think actually bitcoin legalization should be legible in every country, so the government can impose a tax on every bitcoin user. bitcoin and government users can be mutually profitable, for state income

[mifanmuzny]

Its Legal in most developed countries. Only losers third world countries try to ban such an amazing tech so its people will stay poor and make those governments rich,.

[davinchi]

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country. 

While some other countries are strongly opposed to Bitcoin and other cryptocurrencies, others are very much open to it. There are also some others that remain indifferent about their existence. It is up to the people to join or not. The government is not imposing any law banning or legalizing it. Regulating Bitcoin is very easy because the government is the most powerful entity in any country. They are the ones that will tell what will be allowed to run in their country. They may ban all sites, shops, applications, etc that are all related to Bitcoin. Legalizing Bitcoin is good because it is providing their people an option and a way to invest. They may also earn from it through taxes. 

You shouldn't always be expecting every country to keep on legalizing Bitcoin. Although it might seem to be good, there are countries it doesn't favor, so those that believes that it is not in favor of them wouldn't be in support of the idea. By the way, we don't need the government to legalize Bitcoin before we can make use of it, it's made available for everyone, no matter where you live…

[bulantoy12345]

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country. 

In my own opinion,government need to legalized bitcoin because its contribute a great value to our economics in terms of digital currency,and helps a lot people to have a way of living,and mostly the ecomics will growth its statistic data because the help of cryptocurrency  in terms of investment trading.

[zeaderza]

Legalizing bitcoin is one of the topic that all bitcoiners ask. Legalizing bitcoin can contribute bad and good effect in our economy, so it takes long time to approved it, some countries are legalizing it some are not. In my own opinion, i am favor in legalizing bitcoin ,but before it happen we need to accept it.

Some governments sure may be skeptical as to what the implications of legalizing bitcoin may be which is one of the reasons why they have been trying to do some research on how to really adopt it without going wrong.

It would be a good thing for the government, the citizen and the bitcoin community as a whole as steps like that will keep giving bitcoin more ground to get established but no government is absolutely ready to commit herself right now.

[Babyrica0226]

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country. 

In most country I know where bitcoin was already legalized in Japan, Vietnam, Somewhere in Korea, Australia I think, also maybe in China because it has the biggest average percentage of bitcoin mining farm in the entire world, and Indonesia. It could have some other way to give benefits if the government is also a decentralized but that's impossible to be happen, isn't ?

[Farhan786]

I do not think Bitcoin will give legitimacy to everyone. One of the reasons is that the government has no full power to it. But it may be in front of it.

[starlord95]

Yes because in our country bitcoin is the leading currency that some other known they could have much income compared to other light currencies.

[burner2014]

Yes because in our country bitcoin is the leading currency that some other known they could have much income compared to other light currencies.

With so much advantage of having a bitcoin and for its stability since it has been in the world since 2008 so we can really say that bitcoin has proven enough and for a couple of months am sure that many country would allow and legalize bitcoin in their country. Let us just continue to use it in a legal matter.

[cluit]

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country. 

Honestly, legalizing bitcoin for me would be a terrific idea. This would promote bitcoin itself to the world and for people to know and have the idea about bitcoin better. In addition, not only that it helps people earn a lot, it can also boost an economy of a specific country because of it's really high value when it's volatility hits right.

That is one thong most people will not understand. I have heard some saying it would cause government to control bitcoin. How for heaven sake? Bitcoin will always be decentralized and the only place the government can have control is in the aspect of conversion to fiat which would make it taxable and to me it is reasonable considering the level at which bitcoin is going to be affected positively in the long run.