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Author Topic: Legalizing Bitcoin  (Read 5438 times)
CuriousGeorge
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April 24, 2018, 09:02:59 AM
 #521

Well, in the Philippines, bitcoin are now legal to use as payments and as investments. They are focusing on the legality of platforms exchange to protect the bitcoin owners and the national currency as they have noticed that millions of bitcoins are converted to our local money. I think government and the people could benefit if bitcoin will be declared legal, it can really help the people specially the jobless to earn income and boost the economy.
Good to hear that, the bitcoin hype has now turns reversed from negative to positive so many platform starts to accept bitcoin like we can buy the world cup ticket by using bitcoin and now phillipines trying to recognise bitcoin, maybe it's what affecting the price pump for bitcoin I guess.

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gudjhonson
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April 24, 2018, 09:03:49 AM
 #522

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 need 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 think it will be very difficult for all countries to authorize Bitcoin. Because there are so many countries that forbid it and it will probably be very small to be legalized. I'm not sure this can happen. Even in my country is still allowed to hold Bitcoin alone I am very grateful even though I know if Bitcoin has not been legalized.

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April 24, 2018, 09:37:48 AM
 #523

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 think the government needs to do to regulate bitcoin , if they want to take taxes. it is better than declare illegal.because bitcoin is the future currency.
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April 24, 2018, 09:39:06 AM
 #524

There has to be a legal framework to handle crypto. Yes, you will need to pay tax. There are some tools on the way to help with this. It's inevitable.
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