Legalizing Bitcoin

[chimcoin]

Firstly,i have not hard where Bitcoin has been declared illegal,not yet in my country or any other countries at least for now. Moreover,the news out of China about Bitcoin and other cryptocurrencies is going from bad to worse. After banning Initial Coin Offerings (ICOs) some weeks ego, Beijing is now considering shutting off cryptocurrency exchanges, sending the major players into another tailspin. Legalizing Bitcoin is like regulating the cryptocurrency by governments and bringing it to control as against it decentralized formations

[Sled]

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. 

to be profitable then the country should make its own coin which is used to transact daily in the country, if so I am sure the country will also get the benefits

The governments are not required to make their own coin because they can just study the existing cryptocurrencies in the internet and accept it and make it as a fully legalize cryptocurrency or another form of money. It will be easier for them since they are already existing and they have a lot of different projects that the government can get benefits.

[grifter1870]

im still hoping for my country that they will legalized bitcoins, since bitcoin now is very popular when it comes to crypto world....

[shark69]

to legalize bitcoin I think is very difficult. because bitcoin is a crypto currency, while the legal one is fiat currency. especially with countries that disagree with bitcoin.

[micovcin]

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 the goverment accepted Bitcoin and turn it into the legal method payment so i think companies will have more sources of customer so it could help the economics in that way.

[best ever]

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. 

To legalize it, governments should take a law about it, and who will do it? It seems to me it will be more easy to them to declare BTC something illegal and even ban it. Just thoughts.

[BitcoinTurk]

Some countries are planning to ban Bitcoin. However, i think it can not be legal at nowdays. Maybe in future all of the countries will accept Bitcoin.

[ausbit]

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 country is still declared illegal and has not been acknowledged to gain profit bitcoin country will be in taxes in each country.

This is nothing new or strange because there are so many countries who have yet not declared bitcoin legal. So many people are suffering from this nonsense action but I don’t know why governments are so scared of bitcoin. Maybe they don’t want to lose their tight grip over public wealth or like they want to have full control over the economy of a state. Well it seems that in the near future, no country will be able to survive without bitcoin.

[shezu007]

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 country is still declared illegal and has not been acknowledged to gain profit bitcoin country will be in taxes in each country.

This is nothing new or strange because there are so many countries who have yet not declared bitcoin legal. So many people are suffering from this nonsense action but I don’t know why governments are so scared of bitcoin. Maybe they don’t want to lose their tight grip over public wealth or like they want to have full control over the economy of a state. Well it seems that in the near future, no country will be able to survive without bitcoin.

i want to clear my mate about legalization of bitcoin that all countries in the world will legalize a currency in the world only when the country have some benefit from that currency like they can get some taxes or doing any trad with other business easily. But bitcoin is decentralized and also have no taxes giving to any government of any country due to which they are not legalize bitcoin. And the other small reason is that bitcoin is still not get such huge number of followers so that people are taking any legal step about bitcoin. As with time when users of bitcoin is increased then chances of legalization of bitcoin will also be increased.

[Duogembrot]

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. 

To be honest in my country bitcoin is not allowed to be used as a legitimate payment instrument, maybe the government and local banks are scared if its people become all rich people.

[killerfrost]

At present, most countries do not declare the legality or illegality of Bitcoin. Because this will make their economy not be affected and developed. Although it can be said that investing in Bitcoin is a tax evasion and money laundering activity, it has helped the country's economy go up. The rate of unemployment is decreasing, the human life of human resources is increasing, technology is applied in reality more and more. This will definitely make a country more developed. Therefore, they still allow Bitcoin to operate in the darks

[susuberuang]

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 country bitcoin can be used to buy and pay anything, because in my country the government has approved bitcoin transactions and a lot of retailers who receive payment using bitcoin.

[alphaomega.f]

why not? nobody is saying that bitcoin is illegal but nobody is claiming either that it is legal. i dont think its bad if bitcoin is legalized. it wont do you any harm, in fact more people are being stable now financially because of bitcoin.

the only bottomline  here is, it will be a long process.

[chickenfried12]

Every Government can  be easily legalize  the bitcoin by passing a law section  but this is so hard and ı  think it would be difficult for them to control bitcoin
the banks can ne adapted your system the bitcoin and maybe  it's a step for starting legalize  but how it be ? i can not imagine that if the banks need their comiision fee's  for earning on the each transfers some money they need to re build their systems

[darklus123]

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 can't either choose between the government regulating bitcoin or the current situation. Of course the current bitcoin situation has loop holes but it is just that bitcoin has obviously  no connections about the popping out of altcoins. It can really be fatal IMO if the government  be declaring a lot of rules which is mostly favors on them

[Ellapots1234]

legalizing cryptocurrency in country is a difficult, it depends on users cryptocurrency and bitcoin, "how cryptocurrency users participate in state regulation, and demands legalization, by judicative means.". cryptocurrency legalization statistics is very dynamic, and when you see some effort to start receiving bitcoin, it signifies the global elite has received bitcoin as a means of payment.

In our country many of us uses bitcoin as a digital currency for any payment or transactions.
so its possible that bitcoin will be legalized in our country. but the decisions will still be on the government
and its gonna be complicated if that happens but all I can say is it is possible to happen

[batang_bitcoin]

To be honest in my country bitcoin is not allowed to be used as a legitimate payment instrument, maybe the government and local banks are scared if its people become all rich people.

In what country do you leave? There are countries that are stopping anyone who lives in their territory to use bitcoin. Legalizing bitcoin is a good thing for those skeptic people about it. And today there are too many bad news that are coming out of it and most of it coming from those big time financial experts that has their own agenda to do that. But countries like Japan, understands that bitcoin can help their economy.

[ajdaj]

I believe that bitcoin can not be legalized. This will attract the underworld and they will start to earn it. The perpetrators will start using bitcoin in their own interests, and this is not good.

[Emitdama]

to legalize bitcoin I think is very difficult. because bitcoin is a crypto currency, while the legal one is fiat currency. especially with countries that disagree with bitcoin.

If some countries are showing disagreement for bitcoin then it does not mean bitcoin is not at the top and it will not affect the price and the importance of bitcoin. In my country bitcoin is high and the demand of bitcoin is high because of high use and huge level of investment so if you are a part of bitcoin you are good and just think positive because soon only bitcoin payment will be acceptable in all countries.

[wuvdoll]

At present, there are still many countries that legalize bitcoin and do not legalize bitcoin.For countries that accept bitcoin,   they will see
bitcoin as a  commodity,  who uses  bitcoin when buying  or selling, they have to pay taxes.I think that's a good way to legalize bitcoin .
That wil support the economic system of the country

That is really the way most countries are seeing it right now and I guess that is the way it is just going to be for a while until there is a clear regulation for it.

Yeah, legalizing will definitely help most countries in the long run for the early adopters right now as it would make their economy grow, a lot of people will be able to find ways to earn in bitcoin and once there is a regulation on its usage, tax will be applied and then a win-win situation for everyone.