Government on legalising bitcoins

[chadrs]

If ever the government is going to legalize bitcoin, maybe it will make the bitcoin more known and recognized to the people.

[1714933437]

1714933437

[1714933437]

1714933437

[1714933437]

1714933437

[jjjackorton]

I want to know already many countries banned or illegal in crypto currency from officially.My question is at future there are any chances to newly legalization about bitcoin in those countries?

Some countries choose strategy of banning cryptos and ICOs (i.e. Vietnam) , some try to regulate operations with cryptocurrencies by issuing laws (ban anonymous crypto trading like in Japan, Russia) some other countries see cryptos as prospective form of assets that have a potential to positively influence on the country's economy. Europeans believe in future of bitcoin and other cryptos and encouring investing in this sphere (read more https://blockspoint.com/european-future-is-bitcoin)

To my mind, bitcoin possesses all the futures to be legalized in most of the countries. Moreover, a lot of countries had already launched their own national cryptocurrencies.

[Hannahanto]

Nowadays crypto become more popular day by day. People are aware of crypto and ready to invest in crypto due to its high profit. So the government also now legalizing bitcoin for their people. If bitcoin will be legalized the economic growth of the country will have high growth. Due to this reason many countries now accepted bitcoin as legal. Now few countries legalized bitcoin with some rules to use. In future many countries will be added.

[evescrypto]

Creating a standard regulation/system within a country for bitcoins would not be so simple. There will definitely be arising unfair practices especially within a country with high corruption rate.

[lokanot0]

Most countries are already legalizing bitcoin. If we look it in a good way, legalizing bitcoin would improve a country's economic system because of the large revenue the government may benefit on from imposing tax on it. The sad truth is that, some would still avoid to pay this taxes or if taxes are paid the government officials would just embezzle the money for their own benefit.

[XFlowZion]

I strongly think that government should legalise bitcoin, because it may become a great revenue source for the goverment by imposing taxes of more than 30% and it can develop our country in so many ways.

You'll just discourage people to use bitcoin with that outrageous fee. I envy countries who don't tax bitcoin profits like in Germany and I wish it happen in my own land. Government can still tax us when we use bitcoin to pay things by putting it in oil, goods, and things that we normally purchase.

[Oasisman]

I strongly think that government should legalise bitcoin, because it may become a great revenue source for the goverment by imposing taxes of more than 30% and it can develop our country in so many ways.

You'll just discourage people to use bitcoin with that outrageous fee. I envy countries who don't tax bitcoin profits like in Germany and I wish it happen in my own land. Government can still tax us when we use bitcoin to pay things by putting it in oil, goods, and things that we normally purchase.

Government and people are contradicting each other because of Bitcoins high volatility. I personally think 30% tax is too much for the government to ask, considering how volatile Bitcoin is.
I am not against regulation, but what I am afraid of when regulations are being implemented around the globe, is the possibility for the tax being abused.

[Bharat24]

Good steps from countries who legalising Bitcoin. When big countries will start accepting Bitcoin on their jurisdiction others will simply fellow.

[poktur]

I absolutely agree with this that it is entirely in the interest of the state, because they can have taxes from this!

[jonaire99]

I think the best thing that can happen to any Government is to legalize Bitcoin, the people have chains of income, when this is done the Government can now place tax on  the users of bitcoin, believe me  you they will pay any tax exacted on them as long as they don't have fear in doing their business.

For some governments, it will take time before they will legalize  the cryptocurrency because there are many things to be considered first before allowing it to be use as one of the legal tenders. Their first step might imposing some regulations that aim to check the possible use of bitcoin in illegal means like money laundering or scamming the people.

[marseille]

I strongly think that government should legalise bitcoin, because it may become a great revenue source for the goverment by imposing taxes of more than 30% and it can develop our country in so many ways.

This is what everyone one is imposing the governments to do.  They do know the benefits and the growth in adapting bitcoin and other crypto currencies. The reason for not taking a step further is to sustain local fiat's value up in the market as this is what the primary element for a government. This is why the banks are against local currencies. This is the reason banks control government not to adapt crypto currencies.

although it is still the government must take action to control the use of bitcoin because it also can reduce unwanted actions such as theft or murder, because when the spread of bitcoin freed just not only the fantasy criminality will increase but it can be a reality, it would be nice government crack down on it so all usage of bitcoin can be controlled.

[USDOLLAR]

If bitcoin will be legalized the economic growth of the country will have also increase. In my thought legalizing Bitcoin will improve the economic growth of a certain country. Especially those countries who have a high percentage of poor people. Now The governments are coming step by step closer to legalizing bitcoin. Here is the biggest advantage would be, the government will not ban BTC and people will be free to use it. It may become a great revenue source for the government by imposing taxes. This kind of technology is what we need right now to transact easily everywhere in the world. 

[hacekd]

This is good if the intention are for the sake of their people but we all know how government rule one country. I think its better to have a detailed law about this that can surely protect investors and the businesses. Legalizing is indeed what we need instead of banning cryptocurrency but hopefully we can see more transparent government regarding on this matter.

Because it does not have a central server and no regulation is regulated, bitcoin transactions can be done at will. Of course as long as you have a bitcoin virtual account or wallet. No taxes will be charged to us, like when transactions through a particular financial institution.

[mmostardeiro]

I may be wrong, but I believe in technology, and I think the fight with the government will be great, but in the end the Crypts will be the winners.

[KorakPawon]

hopefully your thoughts are in line with government thinking including all bitcoin users, because all hope the government in various countries immediately legalize bitcoin, so bitcoin not only used or stored as an asset,

[Blondy12]

I also heard of that and saw in an article that some countries wants to legalize bitcoin by creating their own cryptocurrency that will governed by the government therefore taxes maybe imposed to all transactions. I think the root cause of this maybe it was alarming to the banks that in the future all their depositor will only save and transact through bitcoin because currently in bitcoin there are no central or middleman to all transactions so that low fees and penalties are more favorable than the banks.

If a particular country is going to create its own cryptocurrency therefore it will not be called as bitcoin anymore instead it would be altcoin and yes since it is the government who created that crypto then it will be easy for them to monitor the flow of the coin and easy for them aswell to impose taxes on the holders but then again its is not bitcoin and bitcoin holders are still free from taxes and can remain anonymous.

[qwerty12]

I strongly think that government should legalise bitcoin, because it may become a great revenue source for the goverment by imposing taxes of more than 30% and it can develop our country in so many ways.

I agree with you. But, In general, however, the new breakthroughs are usually considered controversial before the benefits are fully understood by the public. The internet is a good case example to illustrate this point.

[naily]

I am happy because this can help the country to get income from taxes. But it needs regulation about taxes. I hope in the future more countries will accept bitcoin. Because some countries still don't believe in bitcoin, so they want to control bitcoin. Once the bitcoin is authorized, it is necessary to regulate the tax

[topex.io]

The regulation is already a bad sign for bitcoin, Bitcoin was attractive for its anonymity and speed of transfers, after the regulation I think we will see the decline of bitcoin.

[dark1234]

tax collection will occur when it has legalized by the government and of course this will be one source of government revenue, but unfortunately there are still many countries are still afraid and hesitant so they choose to be neutral,