How are your governments reacting to Bitcoin?

[DU18]

The government of ours not impressed by bitcoin and their reaction is not so good.In 2012 our government has banned bitcoin and created a rule that if anyone caught using bitcoin then he/she will be sent to jail for atleasy 8 month.Actually in our country, some hackers robbed bank and take all money in china and converted into bitcoin.So since it's untraceable our government can't do anything, that's why our government has banned bitcoin permanently.

[zentdex]

Namaste! Our government is currently in good terms with crypto, they are not banning it nor supporting it. They are currently neutral as there are investors coming in the country to introduce crypto as a payment from a day job especially for those who are working in a bpo industries where most of their clients are from overseas. But I do hope that they government won't impose tax over the income form crypto locally.

[xsahlanx]

Indonesia prohibit bitcoin transactions for pay things like phone, gadget or etc, in this situation bitcoin is illegal for payment,
but bitcoin for trading asset, bitcoin is legal and government would be irresponsible for loss on trading activity.

[emberbekas]

It is no surprise that most governments don't know how to treat Bitcoin. Some of them started to treat as a currency and a normal way to pay with but there are also countries which consider Bitcoin as something illegal which the only purpose is money laundering e.g. making selling drugs easier. It looks like my government is confused and doesn't know what cryptocurrencies are. That is why I am afraid that they might ban it. It will make cashing out more difficult.

Bitcoin is something that relatively new to my government and there are many fears that arise because of it. Lately there is a policy that prohibits the use of bitcoin as a means of payment and anyone who caught violating it will be subject to sanctions. But luckily, we still may save it as an asset so buying and selling bitcoin is still allowed to date.

[lamjed]

I do not know how my government is really reacting to bitcoin because for us in Tunisia i mean, bitcoin is not known and not famous enough to be discussed. People too do know about it but i am sure that one day all the world is going to consider bitcoin as a real power and thret.

[Godric-Gryffindor]

Hello there... I am from India, and Bitcoin is still in the grey area here. It is not legal, but it has not been declared illegal either. But the government has explicitly stated that Bitcoin is not recognized as a legal currency here.

The government is still working on deciding a framework for it, but we have absolutely no idea about what its verdict will be. So, people here are trading in Bitcoin for short-term gains. Make hay while the sun shines!

How are your governments reacting to Bitcoin and what's its position in your country?

Bitcoin is not yet illegal and not yet declared illegal in our country. At least for now only the Central Bank are kin enough to participate discussion, but only because Bitcoin is defined as investment instrument. Central Bank warning is not bad at all in fact it is for the good. Warning such as; participating in none registered and higher return of investment schemes. Our government has no position yet about bitcoin and altcoins.

[vaughn125]

Hello there... I am from India, and Bitcoin is still in the grey area here. It is not legal, but it has not been declared illegal either. But the government has explicitly stated that Bitcoin is not recognized as a legal currency here.

The government is still working on deciding a framework for it, but we have absolutely no idea about what its verdict will be. So, people here are trading in Bitcoin for short-term gains. Make hay while the sun shines!

How are your governments reacting to Bitcoin and what's its position in your country?

well, i guess i could pretty much say that the standing of bitcoins here in our country is just almost the same as yours since bitcoins here aren't that popular either. and i really haven't seen any stores yet that have declared or have announcements about them accepting or will be accepting bitcoins as one of the payment options that they will be accepting for their products or services.

and the government? well they too haven't said a thing yet. the only things that they have been saying for i don't know how many times is that it is not safe to use crypto currencies and that people should always be careful about the things that they are investing their money in which are cryptos. which is why i really have never thought of investing any dime on it yet. instead, i have been working on bounties so that i won't have anything to lose when it becomes illegal in our country. but also at the same time, while it isn't banned yet, i get some pennies because of these bounties that i have been working on. which for me, is a win win situation.

[nikjain422]

Indian government right now are on a row of seizing the illegal account related to bitcoin and in this cryptopeople from india are ready to support but thinking that all this has happened by bitcoin and bitcoin is some alien thing is not at all right.One thing is most common in India and that is most of the people knows only one coin in crypto and they have some alien conception about blockchain.But i have seen changes coming in this introvert thinking and i am sure situation will be better with great number of people coming and doing R&D about cryptocurrency.As i firmly believe knowledge is the only thing which can reduce differences as well as can make society more prosperous.

[Ram krish]

Bit coin is not accepted by the government in my country. Income tax Department going to find those who have owned the bitcoin. I think it raide will be happen for them.

[vk279]

Bitcoin and cryptocurrencies popularity is on the rise but governments and government organizations are just watching how this is going to evolve.
Right now whole crypto market is very tiny but it will eventually become a threat to Centralized governments which like to control  their citizens in all walks of the lives.  So I would say as of now or in the near future there might be few regulations but they will try their best to crush the crypto movement.

[Gabb]

In my country, significant progress has been made in the regularization of the use of cryptocurrencies thanks to the implementation of a new law called "Fintech" that will come into force this year, although the only limitation is that the central bank will be in charge of publishing a list with the cryptocurrencies that will be recognized by the financial authorities, and given the characteristics indicated, it is very likely that Bitcoin can be excluded.

[Heartseed]

Here in the Philippines to is not declared legal or illegal but our government is aware that many filipinos are using bitcoin as source of income in terms financial needs of it, which i think the government disagree since it bypass the tax here. So, it is possible that Philippines may ban bitcoin in the future. Well, i still think even our government bans it, filipinos will still look for a way to access it.

[First77]

yes, i've heard how the Indian government reacts to bitcoin users, and I think, they do very exaggerated and unnatural acts.

They said "bitcoin is fraudulent scheme"

[keeee]

Indonesia prohibit bitcoin transactions for pay things like phone, gadget or etc, in this situation bitcoin is illegal for payment,
but bitcoin for trading asset, bitcoin is legal and government would be irresponsible for loss on trading activity.

In Philippines bitcoin was not officially legal or illegal, because if this annouced that illegal maybe it was banned now but unfortunately not. The government here was aware of what bitcoin is as many filipino used and it was flashed in the televesion but sad to say all of the news was always about scam. Besides bitcoin was still frelly used here but for transfering money only because bitcoin cant be used as a rule of payment.

[Washball]

There are a few countries who accept bitcoin and a few that ha e banned all cryptocurrencies. But most countries have not made up their mind yet. Most governments would like to keep control and have regulations, for various reasons like taxes or to prevent criminal activities.

[Jackblack90909]

In my country the government don't support Bitcoin officially, but it is not illegalizing it as well. So people here can work for Bitcoin and trade it, but they need mostly to cionvert it into fiat currency in order to use it as real money offline. Many people here deal with bitcoin and hold it since its price go up fastly.

[johnlhy251]

Hello there... I am from India, and Bitcoin is still in the grey area here. It is not legal, but it has not been declared illegal either. But the government has explicitly stated that Bitcoin is not recognized as a legal currency here.

The government is still working on deciding a framework for it, but we have absolutely no idea about what its verdict will be. So, people here are trading in Bitcoin for short-term gains. Make hay while the sun shines!

How are your governments reacting to Bitcoin and what's its position in your country?

very similar to the situation here, that bitcoin to date has not been legalized as a currency. the government only appealed to the public that if we trade with the digital currency this should be vigilant because it has a big risk.
really hope, in the long term bitcoin will be accepted throughout the country.

that is true, in my country, government said that crypto is illegal, and it should not take as good source of financial income

[Pleione527]

My country does not show support over bitcoin but it does not against it either in fact they let banks accepts bitcoin exchanges so it would be very easy for us to do transactions. My country only release such notifications informing people about the risk of crypto investment and that they are not liable or even cannot do anything the moment our investment gone into something wrong since bitcoin is not regulated. They also inform us the volatility issue of bitcoin and the risk of its absolute value drops anytime.

[rappyboy1]

i noticed that most governments are against bitcoin, for a very obvious reason that this will greatly affect the taxes, and current system would be a mess.

[Ris88]

Hello there... I am from India, and Bitcoin is still in the grey area here. It is not legal, but it has not been declared illegal either. But the government has explicitly stated that Bitcoin is not recognized as a legal currency here.

The government is still working on deciding a framework for it, but we have absolutely no idea about what its verdict will be. So, people here are trading in Bitcoin for short-term gains. Make hay while the sun shines!

How are your governments reacting to Bitcoin and what's its position in your country?

Of course the first thing that's on their minds will prohibit the use of bitcoin, but with a high community makes bitcoin very strong even the whole world is not able to block bitcoin circulating throughout the country, so the results of the government slowly land will certainly find out about bitcoin and how the bitcoin system is working, nothing is impossible for sure the government will be interested in the bitcoin performance system so far, about the government ban is only the guise of the banks who do not like the bitcoin, which will destroy the bank ..