Government on legalising bitcoins

[carlfebz2]

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.

Every trader wants Bitcoin to be legalized. Not only Bitcoin, but I heard the Blokchain technology can be used for the future by governments, because Blokchain is a such a kind system, which makes financial and technlogical stuff more easier.

Not every trader. Others would want to avoid taxes so they'd rather that the government would not get involved with cryptocurrency affairs. It's possible that on the day that the government decides to legalize bitcoin, they may impose regulations and then put taxes.

Blockchain technology should be used by the government and utilize it to develop a better system for payments within the country. The government may choose to use crypto for the better in order to improve their country.

Adaptation would always been possible when it comes for government to decide such thing but the big question on here is the chances for them to considerate.There would be still lots of argumentations to happen among boards before this decision would be finalized.If they do accept then they do have the view on benefiting from it because they wont accept it if they would saw that they wont benefit at all.Blockchain technology do really have a bright future when it comes to adaptation we do know the capability of this tech.

[1713522520]

1713522520

[1713522520]

1713522520

[Lieldoryn]

I'm totally against legalization by any government.  Bitcoin is an enabler for libertarian principles.  Once government gets involved Bitcoin is no longer a tool of freedom, it's a tool by governments for control and oppression.

Well, you have your point but we all know how government play the game so I think instead of banning cryptocurrency I will still go for legalising this thing so we can freely use cryptocurrency wihtout any hesitation.

Recognition of legalization is a voluntary loss of freedom. I don't believe you're willing to pay taxes. Are you ready to make concessions in order to have free access to a Fiat. This tactic is a failure. My opinion should be done to ensure that users of bitcoin had the opportunity not to use Fiat. Then there will be no subject for bargaining with the government.

[lili song]

Government legalising bitcoins is a good news, but if the government pay tax for every transactions. I think it will a little bit hard.
Government can earn money if all bitcoins transactions pay tax. Blockchain technology very helful for company. So I think in this technology, the government will see the technology and can legalising bitcoins.

[onrise]

I'm totally against legalization by any government.  Bitcoin is an enabler for libertarian principles.  Once government gets involved Bitcoin is no longer a tool of freedom, it's a tool by governments for control and oppression.

Well, you have your point but we all know how government play the game so I think instead of banning cryptocurrency I will still go for legalising this thing so we can freely use cryptocurrency wihtout any hesitation.

Every user of cryptocurrency would ask for this only that they should be allowed to use the currency because it is another totally different space where new technology is helping people in many ways from their business to money transfer to earning and to become independent in their life

[MCVXYZ]

I'm totally against legalization by any government.  Bitcoin is an enabler for libertarian principles.  Once government gets involved Bitcoin is no longer a tool of freedom, it's a tool by governments for control and oppression.

Today,It has already legalized in many countries,sorry but I don't understand how its enabler for libertarian principles,as we see today bitcoin is a tool of freedom,when i say its legalized I mean countries where its not banned and I don't understand why goverments wouldn't legalize it,everyone knows that its not anonymous and 'crypto criminals' always leave trace and its easier for authorities to investigate ciber crimes.maybe my opinion is not right but i think the best solution will be global strategy and we have already iniciators like America or another technological giant companies.

[Proton2233]

Why bitcoin users have to pay taxes? I understand to pay taxes to the government that supports all users of the cryptocurrency. Banks do not block transactions. Now we see the opposite situation. The government by all means give us obstacles. This means that the taxes on the turnover of the cryptocurrency they don't need?

[marielbeckham]

Totally agree with you but there is no matter how strongly we want this, it does not seem to happen very soon.

[elena_rose19]

There would be advantage and disadvantage when a government legalized bitcoin. Of course the biggest advantage would be, government will not ban btc and people will be free to use it. But the disadvantage would be, the anonymity of transactions would never happen again. That everyone should declare their btc transactions and earnings and should pay tax for it.

[richardsNY]

But the disadvantage would be, the anonymity of transactions would never happen again. That everyone should declare their btc transactions and earnings and should pay tax for it.

Transaction anonymity? Regardless of Bitcoin being legalized or not, as soon as you make use of centralized services, you can say goodbye to your 'anonymity'. I don't understand why people keep mentioning that they will no longer remain anonymous, while they actually have never been that.... I think it's safe to say that at whatever point in time, yes, it's just a matter of time, exchanges will transfer user information to the tax department in your country, and that without the court being involved like how Coinbase was forced to admit defeat. Current regulations are a joke compared to what has to come. If you want the highest level of anonymity, as far as possible, avoid centralized services entirely, which will require you to basically isolate yourself from a large part of this ecosystem. It's all up to you.

[def1664]

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[CryFr]

Why are we talking about legalizing bitcoin? Legalize something that was previously prohibited, was illegal. But no one ever banned bitcoin.
If only there are countries where the laws explicitly prohibit citizens to have bitcoins? In advance I will say that for example in Russia there is no such law and a direct ban on bitcoins.  
 It is more accurate and appropriate to talk about amendments to the current legislation for a uniform approach to solving legal situations. But not on legalization.

[Faeton]

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.

Recently, the European Court of Human Rights adopted a decision obliging the German government to recognize bitcoin as a legal tender on its territory. This is a decisive judicial decision for more than forty countries that signed the Convention for the Protection of Human Rights and Fundamental Freedoms of Man of 1950 and pledged to amend all the laws of that country for specific decisions of this court. Thus, the governments of these countries will be obliged to recognize bitcoin as a means of payment. This is a very big victory for the crypto currency.

[Ghondronk]

In the coming timegovernments will fight bitcoin and will make it illegal since they can not control the block chain and the will lack their authority and big part of their capital

on the contrary in Japan is very supportive with bitcoin In fact, there is a camera store in Japan that only receive payment with bitcoin and do not receive payment in other forms such as cash yen or visa / master. The purchase process at the store becomes very easy and fast without any additional fees charged by third parties.

[CryFr]

How do you imagine the process of legalizing cryptocurrency? What exactly should the state do?

Recently, the European Court of Human Rights adopted a decision obliging the German government to recognize bitcoin as a legal tender on its territory.

Can you give a reference to this decision? Or at least the date and number of the case. I really want to see.

[marielbeckham]

Everybody of us hopes that Bitcoin will be legalized but it's extremely difficult to gain this in reality since almost every country and goverment has its own obstacles for this.

[ACVinegar]

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.

Bitcoin is a good source of income but I was not sure if all countries in the whole world legalized this coin, first of all until now crypto currencies are not centralize so who will be the person's came to the arrangement for the legalization of this coin?
second what country leads us to legalize the bitcoin and other crypto currencies? and lastly we need first the legal documents for application of legalization of this coin in the (WO) World Organization as supports.

There would be advantage and disadvantage when a government legalized bitcoin. Of course the biggest advantage would be, government will not ban btc and people will be free to use it. But the disadvantage would be, the anonymity of transactions would never happen again. That everyone should declare their btc transactions and earnings and should pay tax for it.

Advantage and disadvantage of bitcoin is not an issue since this coin are largely help to the economics of each country, however I've just thinking if this is right to implied taxes to the income of small people who join in crypto currencies? How they can equally rate the taxes of each people? Aside from that not all people in crypto currency community was earned income regularly. For example: those participants of signature campaign, because signature campaigns are not run for a couple of years. Sometimes it was run only for 1 month or 2 months, so it gives large impact to all users if their income will be lessen of taxes.

[Lancusters]

Everybody of us hopes that Bitcoin will be legalized but it's extremely difficult to gain this in reality since almost every country and goverment has its own obstacles for this.

Why do you need legalization? What will change from this? It seems to me that we should forget about it. Bitcoin is our currency. We need to build our economy. Do you want to depend on bankers all your life? Learn to live on your own. After the government realizes that it can not stop bitcoin, they themselves will ask users to legalize their actions through Fiat. Understand that the government must work in the interests of the people. You want people to work for the government.

[entrepmind23]

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.

Taxes on bitcoin would be a big help to the government because it will be an added fund and more projects would be made. The disadvantage of bitcoin being legalize is that due to the semi-anonymity, some people would use it in illegal means but then the advantage of the legalization is that more people would trust it so there would be more demand. The more people who use bitcoin in their transaction, the more tax the government would be able to collect given that majority of the users would pay tax.

To implement this, the one that should be tax are the platforms and the tax should be charge in every transaction of the users and then the users would be able to get a report so that there would be transparency. Eventually when majority of the countries use cryptocurrency, some of the countries who ban it will welcome it because they wouldn't want to be left behind.

[bryan21]

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.

Some of country still don't believe bitcoin yet, so they want control bitcoin. After legalized bitcoin, is need to setup the taxes.
It can help country to get revenue from tax. But need regulation about tax. I hope in the future more country will accept bitcoin.

[Rajamuda]

Anyhow some of the governments who do thinking they should legalizing bitcoin can still be counted with the fingers, there are still many doubts and worries out there. Well although it really can be have potentially to advance the country, but still because of the various opinions certainly would be different and having a many considerations related to the country, and of course it will not be easy to decide.