Why bitcoin requires approval from countries ?

[zhabuxxs]

if a country approves the use and storage of bitcoin by its inhabitants. then bitcoin will be used as a means of buying and selling transactions in daily life ..
and the big investors in their country do not hesitate to invest their money as much as possible

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[cuongdola211091]

Korea has just opened its doors to the virtual currency market. That's a good news with bitcoin

[ejswift]

Bitcoin actually doesn't require approval to be used anywhere. You can use it as long as you have internet connection and a device.

Countries "approving" bitcoin just makes it actually legal to use and accept for merchants.            correct me if I'm wrong

because some countries dont trust bitcoin so they need to confirm it before they can approve that bitcoin is good for their country

[Levin23]

Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?

Approval can have a good impact on Bitcoin, if there is approval, of course there will be more people who believe and no doubt about bitcoin, especially people who are in that country, so chances are bitcoin will eventually develop in that country.

[Red Fire]

Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?

For me bitcoin needs approval from countries so that our country will be secured. Like what they said now there is a chance that bitcoin can make our bank disappear and our country thinks that will be not good to as so that they did not legalized bitcoin in our country. That is my opinion correct me if I'm wrong.

[nguyenduc474616@gmail.com]

Bitcoin will allow investors to use their IPs to legitimately invest in Bitcoin. However, that will come with pretty heavy taxes.

[cpoer2011]

Bitcoin requires approval from countries because it has value and can affect the countries financial sector especially banking sector that already exists. Bitcoin gets resistant for some financial institution from the government institution or private institution. If a country has approval bitcoin that means bitcoin can be used in that country.

[Mikasa77]

Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?

For me, to be legalize because butcoin can affect the people and the economics by earning money, and it is because bitcoin has many factors that the users will focus in bitcoin because they can earn money.

[KID_28]

As per my opinion, if cryptocurrency is approved in a certain country, more people will have access to crypto and will be able to use crypto as a form of payment, investment or become ones asset.

[mmo4me.2016]

Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?

All business and investment activities require governmental or regional approval. Bitcoin wants to be used as a payment medium that must be accepted!
Then, all disputes (if any) will be resolved by law!

[Johnzky]

Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?

Actually this has nothing to do with approval if you need to use bitcoin but the problem is when the government don't accept bitcoin in their country and make policy regarding this,and sometimes banning the usage this will effect on the value of the coin and the users from those countries people

[sukatuku]

Bitcoin requires approval in countries for it to be able to fly more aggressively throughout the world, there are regulations that inhibit the development of Bitcoin in some countries, people need to agree on this, bitcoin that is a decentralized currency, so that no one adjusts and controls by an organization. then bitcoin is free. The government should examine and study the impact of electronic money

[Mind Control]

Bitcoin actually doesn't require approval to be used anywhere. You can use it as long as you have internet connection and a device.

Countries "approving" bitcoin just makes it actually legal to use and accept for merchants.            correct me if I'm wrong

Approving does not actually states that they are accepting Bitcoin as a legal tender (unless otherwise, of course). Approval is basically recognizing something and not legally as a whole. I've seen some countries approving Bitcoin but they always warn people about them. So the acceptance falls in the matter of choice. Approval might have been a vague term, perhaps they should use "partially accepting".

[Aroma92]

It's strange, of course, that the countries recognize the crypto currency. So the government is not afraid of bitcoin, and does not take it seriously. And there is no need to establish unnecessary bans, because people's discontent is growing. But, I think that they are closely watching the crypt and will be banned at the slightest threat.

[lucy94]

because its a currency and all currencies need to be legal to be able to work

[katulana]

With the approval of the nations, Bitcoin has acquired the necessary credibility, it will attract more investors, bitcoin that is a decentralized currency, so no one adjust and check. controlled by an organization. then bitcoin is free.

[Huntler1993]

One thing we have to notice is that before the coming of bitcoin, all countries had their own medium of exchange. Government is able to control this money, impose taxes to generate revenue and so on. But when it comes to bitcoin it wont be so and no country will like to lose it revenue which might be possible if a lot of people hook on to bitcoin after it approval in a particular country.

[Sabertoothboth]

Although "some countries don't consider bitcoin as "legal" (or illegal)," this enables law enforcement agencies of these countries to take everything related to crypto using force and get away with it just because this stuff is not regulated and, as such, these actions might not be considered as "illegal." They justify it to the media by "combating and preventing world terrorism" and "keeping their citizens safe."

Besides, every resident, in most countries I believe, MUST pay taxes on every kind of income they earn. Do you believe the gov-t is happy to lose its chance to get some additional "contributions" (taxes, fines, penalties, etc.) to the budget? I don't think so.  

[Ayohafees]

Any trade is susceptible to approval in any country such as canabis, alcohol are banned in some country, cryptocurrency can as well be banned is some country. If cryptocurrency is approved in a system it means any organization that wants to venture into it are permitted under the regulation to be released by the government.

[dreamvacation2018]

With Bitcoin accepted means the governments showing support to Bitcoin no matter the amount and it can stimulate the market, which means this s a fresh air for investors. Rejection also has an impact, the price can fall immediately if the country of where the investors live or the facilities used by the investors suddenly reject Bitcoin. Many countries haven’t decided yet, they’re still in the gray zone or reject based on the Law that prohibit it, but it’s still gray in my opinion because it doesn’t discuss in detail about the prohibition against Bitcoin.

 yeah you have some point, why  bitcoin need to be ligalized of one coutry before it used in the merchant? its just because it can help also to make pupolar in other people of their  nation ,because government is also indorse the bitcoin in their countrymen once to approved base on standard compaliance in the system,