Should government consider bitcoin as a legal global currency?

[akkocoin]

I do not think my country will use Bitcoin as its legal tender. My country has issued a regulation that limits the trading of cryptocurrencies. It prohibits the publication of advertisements on cryptocurrencies on all major platforms. My country does not consider Bitcoin legal and they think it is against the law and do not advise people to invest in Bitcoin. This is bad news, but I will still insist.

[Angela567]

I think the government should consider this. According to the development of bitcoin, it is believed that it can spread all over our country in the near future. Therefore, it is beneficial for the government to consider bitcoin as legal tender.

[Md. Sarwar Hosain]

 I think that it could be  consider as  a world wide currency, To the fact that all are using it by biggest companies and investors. That is a great to be part of Bitcoin in the world, while your payments from campaigns Will be transferred to local currencies. It is a few that of course more much than currencies, a property  that you can achieve more much profits when you are investing into it.

[Md. Sarwar Hosain]

The government cannot control bitcoin. As of now, no one know who is controlling the bitcoin price and which countries have much bitcoins. countries are thinking about the crypto currency and they are looking the option of their own control crypto currency.

No No No, The Govt. must be controlled Bitcoin. Most of the user know that who are controlling the Bitcoin. The Japan Govt.  has permitted the Bitcoin in there country just now. So no need to afraid to Bitcoin.

[BitChief]

Yes, they should do it but some countries think that they have no control about it .
 That's true
But the people find a way to use bitcoin for trading ,save money and purchases and so on

My view is that if businesses are willing to accept cryptocurrencies as payment, then government needs to learn to get used to it. Society shouldn't be forced to halt productivity just because government is too slow to adapt

[SpyX]

Yeah, but in your example, I use an other example: if businesses are willing to accept canabis (idea) as a payment method, does government need to deal with it? No, they can choose what is legal or not.
Most governments don't trust bitcoin, but apply tax on them. You can't play on two side board, and without properly answer from government, bitcoin is a legal global currency. Government can regulate bitcoins with tax and prohibition, but they can't totally kill.

[LeeMBlack]

I do not know if my country (Germany) wanted to get involved in this, but if I did it without doubt it would be a great social and economic advance.

[ylnar123]

Japan already made bitcoin a legal currency. Would you consider your countries to also pass a law recognizing bitcoin as a legal form of currency?

First of all, bitcoin is not illegal in our country. The fact is that the government tend to regulate wallets that is intended for bitcoin and some cryptocurrency already apply to be added as regulated currency and the central bank is currently working on it. Whether ot not other cryptocurrency is accepted or not but as long as bitcoin is regulated then all other crypto are also legal in my country.

[jeluhtajem]

it depends on the government itself, and, if any country imitates the Japanese policy, regarding the crypto currency, it is also their right
In essence, bitcoin is only acceptable, by a country willing to accept bitcoin
and preferably, the government that received bitcoin, passed a law on bitcoin

[crisasimo10]

Japan already made bitcoin a legal currency. Would you consider your countries to also pass a law recognizing bitcoin as a legal form of currency?

That is the best thing for Bitcoin. It will boom like mushrooms if government considered it as a legal tender currency. it can be used as medium of exchange and payment for commodities and services.

[markmillan1215]

The Republic of the Philippines also accepted the bitcoin as legal currency. In fact it’s central bank approves the registration of 2 companies to engage bitcoin exchanges.

[BitBite5]

As far as I'm aware bitcoin is not illegal in majority of countries. However, to become a global currency in formal way it's not very likely and not all governments could make joint decision about that. But in great deal bitcoin already is global currency because it's used all over the world and for the users this is enough.

[Mantisa83]

All banks are frightened of the shift in ordinary people going outside the banking sector and like governments around the world it threatens their strangle hold on wealth.

[Best Dreams]

The government cannot control bitcoin. As of now, no one know who is controlling the bitcoin price and which countries have much bitcoins. countries are thinking about the crypto currency and they are looking the option of their own control crypto currency.

You are right no one can control the crypto currency because it is digital and no one can ever take bitcoin. now in a lot of countries bitcoin is popular and government are think about to make bitcoin as the legal currency, if we buy bitcoin and hold for the long time it will make you earn so in this way if people are paying tax with bitcoin it is earning for the government as well so it is for both the people, and the bitcoin.

[ashfer]

In most of the developed nations the government already made bitcoins legal in their region as the government of those nation understood the value of bitcoins and its worth and how it is going to help in the economic growth .But in some Asian countries the government banned bitcoins as they are not much aware of what bitcoins are and how it is contributing in the economic development and so they put a ban on btc.I strongly suggest that all governments should  make btc legal as it will do lot of benefits for the nation as it is one of the best investments in the current scenario just like the share market investments.

[gorodi]

Japan already made bitcoin a legal currency. Would you consider your countries to also pass a law recognizing bitcoin as a legal form of currency?

I have many doubts that governments will do this. Yes, Japan made probably the wisest step, and now Japanese traders are very active on the market of crypto. However, globally Bitcoin might be not called a legal currency.

[sana54210]

it depends on the government itself, and, if any country imitates the Japanese policy, regarding the crypto currency, it is also their right
In essence, bitcoin is only acceptable, by a country willing to accept bitcoin
and preferably, the government that received bitcoin, passed a law on bitcoin

It is up the country’s policy whether they want to accept bitcoin or not. It is the responsibility of the finance experts of any country to give something to the policy makers about bitcoin to believe in.

Every government official may not be having a clear idea about bitcoin and its effect to the economy whether it affects directly or indirectly, here the role of people having knowledge of currency and economy comes into action, they should have enough proof about how bitcoin can play its role towards the development of the country.

[KingOfWinterfell01]

Japan already made bitcoin a legal currency. Would you consider your countries to also pass a law recognizing bitcoin as a legal form of currency?

That would be great. That's a good way to unify the whole world; by having one monetary system, that is, bitcoins. With bitcoins legal around the world, then we won't have to worry with exchange rates and money changing booths. We'll all have to depend on bitcoins.

[19faraon88]

Of course, government should accept the fact that cryptocurrency is the new era of currency. It spread all over the world and used by other countries. Government should starts and try to understand the crypto, its use, and affect to the economic. I hope government now a days will be regulated to their countries our beloved Bitcoins.

[futuristic18]

Japan already made bitcoin a legal currency. Would you consider your countries to also pass a law recognizing bitcoin as a legal form of currency?

In my country, government has not legalised it yet. However, a few changes in finance policy, are reflecting that soon Bitcoin will be accepted as currency for at least online transactions or money received through crypto exchanges will be accepted after paying due taxes.