Legalize Bitcoin

[wei cao]

Why legitimize Bitcoin in a few countries, such as Japan，Why trade is prohibited in some countries？such as China

[niall51]

Why legitimize Bitcoin in a few countries, such as Japan，Why trade is prohibited in some countries？such as China

In fact a few years ago, china has able be the most holder of bitcoins. Then now like has move to japan. I thought you need to some research about why the bitcoin is prohibited (They many an information about it).

[Herbert2020]

Why legitimize Bitcoin in a few countries, such as Japan，Why trade is prohibited in some countries？such as China

it is not prohibited in China!
what they banned in China was a bunch of exchanges that were operating illegally and without license. these exchanges were also performing illegal activities such as money laundering so they had to be closed.
according to Public Bank of China, you can trade bitcoin and other cryptocurrencies over the counter or on any other exchanges such as the foreign ones still.

[heisenberg0000]

Why legitimize Bitcoin in a few countries, such as Japan，Why trade is prohibited in some countries？such as China

I think the banking system per country has a big say in the legalization. Probably in the countries where they don't want to legalize bitcoin, the banking are afraid with the concept of decentralization. I think legalization of bitcoin would be a far fetched idea since most countries are still against it. So the closest thing would be a regulation instead. 

[Kakmakr]

It is mostly about politics. China has a history of total control over their citizens. <Big internet firewall> So for a government that are focused on total obedience and control, Bitcoin would pose a huge risk. They tolerated it for many years, because the Chinese wants to dominate everything and the Bitcoin miners dominated Bitcoin mining for many years.

They still allow it, but they have very strict regulations for their Bitcoin exchanges and services. Japan is playing another game, where they opened their doors to Bitcoin use, but they are over taxing it as a source of income tax and slowly discouraging people to use it.

[cynical]

Why legitimize Bitcoin in a few countries, such as Japan，Why trade is prohibited in some countries？such as China

it is not prohibited in China!
what they banned in China was a bunch of exchanges that were operating illegally and without license. these exchanges were also performing illegal activities such as money laundering so they had to be closed.
according to Public Bank of China, you can trade bitcoin and other cryptocurrencies over the counter or on any other exchanges such as the foreign ones still.

Its unfortunate that so many people still dont understand what actually happened with the china bans.
There are still a lot of people who think there is a blanket ban on crypto in china.

There is more positive news than negative in crypto but its the negative ones that get more attention.

 

[sunset06]

it is hard to say from an outside market but cryptocurrencies in general offer an opportunity for individuals to have an alternative from national affects like banking taxes or financial regulations. With the freedom of unlimited internet access this can be regarded as thread to governmental actions. So as a consequence some countries reglement the access to cryptocurrencies.

[Theo222]

Why legitimize Bitcoin in a few countries, such as Japan，Why trade is prohibited in some countries？such as China

the problem why other countries dont legalize bitcoin because they see something risky on it.  bitcoin price is unpredictable and there will be a big chance of lossing if we invest a big money but it is also profitable. and non traceable is also the problem because it can be use by bad person in creating a illegal transactions.

[Vatimins]

Why legitimize Bitcoin in a few countries, such as Japan，Why trade is prohibited in some countries？such as China

     Well, judging by your question, I presume that you are not the type of person who likes to read or search first before asking. You need to change that type of mindset since it can only do nothing but bad to you and will hinder you from making the most of being here in the crypto world. Anyways, China obviously did not ban bitcoins or the whole crypto world, what China did is just remove all the illegal things connected to cryptos in their country to protect their people. Which is actually a good thing in my opinion. But banning? Nope. In fact, people there are free to trade and use cryptos as long as they do not do something illegal with it.