Can any government ban Bitcoin?

[jekjekman]

Bitcoin has been around the borders of financial markets for less than a decade, but is slowly gaining importance as an alternative asset class.
Can the government of any major country step in and do the unlikely?

Of course governments can ban bitcoin, in fact there are several countries where bitcoin is totally banned and was declared illegal.

Bolivia http://www.ibtimes.co.uk/cryptocurrency-round-bolivian-bitcoin-ban-ios-apps-dogecoin-mcdonalds-1453453
Ecuador http://www.ibtimes.co.uk/ecuador-reveals-national-digital-currency-plans-following-bitcoin-ban-1463397
Kyrgyzstan http://www.nbkr.kg/searchout.jsp?item=31&material=50718&lang=ENG
Bangladesh http://www.telegraph.co.uk/finance/currency/11097208/Why-Bangladesh-will-jail-Bitcoin-traders.html
Nepal https://sanzeevdahal.com.np/bitcoin-banned-in-nepal/

[GideonGono]

Yes, as of now there are some countries already banned the bitcoin. They think that bitcoin industry can't help them to improve there economy because they don't know to whom the taxes will be collected and taxes are needed every country to help them to improve there economy.

Prohibition on bitcoins may occur. Especially if bitcoins have a bad effect on banks and people involved here. But now bitcoins are good for the people who use it. Because many of those who know bitcoins have the extra income they spend on their daily expenses.

[rfcdejong]

Bitcoin has been around the borders of financial markets for less than a decade, but is slowly gaining importance as an alternative asset class.
Can the government of any major country step in and do the unlikely?

Then the government will need to control most of the computers in the bitcoin network, which is impossible to do.

[whitemacna]

Well it is possible that they can do that and ban Bitcoin but not totally ban to use by its people maybe they will only some rules and regulation regarding on how Bitcoin works.Any country in the world can ban Bitcoin in their jurisdiction but they can't really stop their citizens as there is so many ways to access Bitcoin if the people insist in using it.

[xuan87]

Yes sure any government has the right to banned Bitcoin or to legalize it, most of the government afraid that Bitcoin could ruin their economic, but banning bitcoin is not going to stop people to used Bitcoin, it is better for the government to adopt the Bitcoin rather than banned it, because Bitcoin is really useful for the citizen

[tianok21]

It is possible that government can ban bitcoin because they have policies and regulation regarding the moderation of other currencies in their own country. But it is depends on the culture and guidelines of one state or country.

[SHUNNO]

There are therefore many governments have banned bitcoin,  because they yet not be supple to deem a ways to control  bitcoin . It is anonymous suitable it makes governments harder to reference case taxes concerning bitcoin.

[werner52911]

Some countries have already banned the possession and trading of cryptos.

In the US, a Bitcoin Regulation Act was incorporated into the Senate.

An undeclared possession or unreported holding of cryptocurrencies should be criminalized. After the IRS already pursues the transactions, now a reporting obligation for the possession of crypto currencies is to come. Exchanges must report account holders and transactions.

I do not believe that a direct ban will come in the US or Europe. But very strong regulations.

[jayram]

Yes any government can ban the use of bitcoin in their country, it is their right and privilage to do so. But I think many countries are starting to realize the advantages of having a paperless currency and the future it holds and are now supporting it.

[aardwolf89]

Bitcoin is into limelight again as it broke the previous life time high and crossed $5000 mark convincingly, after the "China driven" meltdown.

Experts and charts suggest further upside potential for Bitcoin.

Ultimate resistance from Governments is yet to come.

[abattoirs02]

If a government decides to make trading or possessing Bitcoins illegal, questions will be raised about how exactly it will enforce such a ban. It is impossible for a government to seize your Bitcoins, unless you decide to handover your private keys. However, the majority of citizens and institutions like to stay on the right side of the law. So the demand for Bitcoin would plummet if the government decided to ban it. All exchanges in that country would also be shuttered and buying/selling Bitcoin would be difficult and risky. This would suffocate Bitcoin in that country and the government’s objectives might be achieved.

[balefires03]

 If any politico was foolish enough to propose banning bitcoin, a few friendly phone calls from major financial backers would be made to impress upon the politico the importance of blockchain technology and cryptocurrencies to the U.S. economy.

[Gategold]

If government ban bitcoin it will only make bad effect to bitcoin for a short term, we cannot ignore that bitcoin is much better than cash or paypal or western union. Its so simple to use and the value is growing, people will always use it no matter what.

[ateebshaikh290]

I think that government can only ban peoples means that only limited peoples could work on bitcoin or only limited peoples could have it but the government can not ban the bitcoin because it is a digital currencie not the currencie of government.

[Laregrell]

Bitcoin has been around the borders of financial markets for less than a decade, but is slowly gaining importance as an alternative asset class.
Can the government of any major country step in and do the unlikely?

they can ban exchange between cash and bitcoin also can make some rules with police to stop using bitcoin.

they can’t ban bitcoin it’s self

[siti25]

Legality can be eliminated by the government, but the government will not be able to prevent the use of bitcoin in the country. So bitcoin can still be used even though the government banned the bitcoin. If bitcoin is banned, then users can still use bitcoins but they will be very careful.

[Famnant]

I think that the Gouvernements can ban Bitcoins and all other cryptocurrencies since Marrocos Gouvernement have done that, as you can see in this link : https://www.moroccoworldnews.com/2017/11/234382/bitcoin-morocco-cryptocurrencies-economy/

[J Gambler]

Bitcoin has been around the borders of financial markets for less than a decade, but is slowly gaining importance as an alternative asset class.
Can the government of any major country step in and do the unlikely?

i have been yo countries where some sites are banned or some keywords are not being able to proceed and I think that also works the same way with bitcoin if they are banned. GOVernments can blcok their ip or on how to connect to certain sites

[Rrita]

Bitcoin has been around the borders of financial markets for less than a decade, but is slowly gaining importance as an alternative asset class.
Can the government of any major country step in and do the unlikely?

yes.government can ban bitcoin officially. but cant control over the bitcoin. bitcoin is a peer to peer,so no once can control bitcoin.

[benmartin613]

They are now doing this, banning the use of bitcoin in their country like mining,trading etc, i dont know why they are doing this and i dont think that it will be a major financial issue if bitcoin is used by their people, its not a wise decision to be made for banning bitcoin.