Government on legalising bitcoins

[Ridwan Fauzi]

The government on some countries would legalize bitcoin and others are afraid to accept. The main reason for not legalizing bitcoin is if it enters it will dominate the local currency. There is no value for fiat, and at the same time tax problem. Because people using bitcoin is no need to pay tax. This is another major drawback to the economy of the country. If country will accept the bitcoin it will give more revenue. Soon bitcoin will be accepted by other countries also.

The utilization of bitcoin in a country will not make fiat currency unworthy, this is an exaggeration. Someone will need fiat currency for their daily life, bitcoin or cryptocurrency just as an alternative payment. And for taxes problem, can actually be surmounted by the government, eg before legalizing cryptocurrency, they can agree on taxes for each user. That is to say, every cryptocurrency user is required to issue taxes to the government because all we know cryptocurrency can serve as a promising place for trading and investing. I think this is a good solution for cryptocurrency users and governments that still make cryptocurrency an illegal place.

[Sandeep24]

If government is legalising Bitcoin then it can be feverable of government because government can enforce a big amount of income from tax.

[DeadCoin]

If government is legalising Bitcoin then it can be feverable of government because government can enforce a big amount of income from tax.

Expect every country to adapt bitcoin and develop it's wealth and economy. Lot of changes can be expected out of accepting bitcoin. The citizens' employment, it's market growth and etc will have good changes. Every individual will certainly feel the changes in their life with more wealth with less effort developing more skills and knowledge in smart manner. Plenty of time would be at hand to spend with their families. Lot more good would arise.

[zahed]

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?

[Hero of Legendary]

we will know this in the coming years but not today. Bitcoin is created purposely to separate people from government system when it comes about making profit due to the lack of transparency and service. So to make bitcoin centralize is a hard thing to make.

[mamarried]

i think it can be done in near future, but it is big job to creat services, some ATM for bitcoin in markets and on the streets, it need investing too

[altcoin4u]

it is only politics in this words, nothing more. Many politicians in different countries have businesses and in no law way, so you can think..

[West0813]

My country is starting to acknoledge bitcoin. They are conducting some meetings with bitcoin professional from other country. So i think in the near future bitcoin  will be legalize here in my country.

[mohammedmattar]

I think that delays the recognition of currency by governments
Is that they are looking at it from all sides and in particular the impact of this recognition on the banks' work
As well as what is the appropriate form of taxes and size so as not to be exaggerated or cheap
As well as control of this nascent trade in money laundering operations
All these and other things are being carefully studied by governments to provide a full picture of how to deal with this new

[sandeepdhiman043]

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.
 The majority of countries do not make the usage of bitcoin itself illegal, its status as money (or a commodity) varies, with differing regulatory implications. While some countries have explicitly allowed its use and trade, others have banned or restricted it. Likewise, various government agencies, departments, and courts have classified bitcoins differently. While this article provides the legal status of bitcoin, regulations and bans that apply to this cryptocurrency likely extend to similar systems as well.

[Tylev]

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

That's a very difficult question. Of course, the state as a whole bitcoin and other crypto currency is not profitable for use. It really can not control it. In addition, a big problem is the greater volatility of the decentralized crypto currency. Most likely, the states will use their centralized crypto currency and will try to shift their attention to it.

[Pancheng]

I do love to see in the future with the law presenting the official acceptance of Bitcoin by the government, but I don't like the thing that the government will have control on Bitcoin in this coming years because I want it to sat decentralized but I do love that every investors has the government protection.

[Dmitry.sit]

I read that South Korea imposed taxes on the 10% foreign exchange rate and this in my opinion is correct.

[hacekd]

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.

it is not so easy that the government can legalize bitcoin because they also do not want to take risks for bitcoin weakness but if bitcoin is improved then the government will re-think to legalize bitcoin.

[lokanot0]

Yes. Governments should legalise bitcoin. Once the it is regularize by the government then it can be taxed. But i do not agree that bitcoin should replaces another country's currency when they can co-exist with each other. Bitcoin should just stay the way it is, and your country's currency should also just stay the way it is. In this way there would be no problem in the way it is used.

[East2011]

As of now bitcoin is not legal yet but not illegal too here in our country. But our government has talking to cryptocurrency professionals from other country. I think in the near future our government will make bitcoin legal here.

[Girlsbit]

Many countries are against the regulation of bitcoins on their territory.  They are afraid that the operations will be conducted behind their side.

[KorakPawon]

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.

so hopefully the government can immediately legalize bitcoin, because if we think is not free, because in bitcoin sales dikeakan fairly large taxes, so there is no harm if it is immediately legalized.

[tinhmusic2018]

god

[Aleh777]

Sure the government will legalizing bitcoin soon, once the economic growth of the country will be rich. Now many countries will accept bitcoin as legal in their country but at the same time few countries would be banned the bitcoin. If one country succeeds in the economic growth means automatically the other countries also consider for the acceptance. Due to its tremendous growth surely bitcoin will be consider as legal by all other countries in future.