Why bitcoin requires approval from countries ?

[Lexurdania]

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

Frankly, bitcoin dont need approval from government. But merchant need regulation that allowing accept bitcoin for payment. Bitcoin is decentralized system and doesnt need government approval bitcoin transaction

[kokobaba880]

Not for me but the big investors and business man concerned this side because they are noticing that if the country allow crypto then they will invest risk freely and then they can not be blame for any illegality of this currency.

[dablatair]

Not for me but the big investors and business man concerned this side because they are noticing that if the country allow crypto then they will invest risk freely and then they can not be blame for any illegality of this currency.

you're totally right, crypto world could not grow at the maximum without acceptance of institutions and countries. These are the kheys for global investment from banks and public.

[rameshrajan1000]

The largest or smallest amount is invested in middle class and richer people in bitcoin. In countries where it is banned, the people of the country will be greatly affected. So the country's approval is necessary. If bitcoin is needed, it is not necessary, but people who depend on it.

[Kalm]

The largest or smallest amount is invested in middle class and richer people in bitcoin. In countries where it is banned, the people of the country will be greatly affected. So the country's approval is necessary. If bitcoin is needed, it is not necessary, but people who depend on it.

Bitcoin is future digital currency. So it any where to use. Bitcoin is avoid the scam. It help to people growth and country growth. It need for the bitcoin information check the market place and coin disk. It reach the all country people. So it help to all country business. So people easy to get the more job and more information.

[mikan111]

By approving bitcoin, it's only legalizing its use in the payment system, but in the other hand bitcoin doesn't need legalization for someone to use it.

[millionaireshs]

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

2 different option why we should totally operate bitcoin in our respective country first; government noticed that there is bitcoin operated but they didn't conduct totally ban and people freeway to use unless they commit crimes or taking money from investor with no returns of investment that's not really good. second; government required approval before they use Bitcoin for the purpose of deductible taxes generated income from bitcoin for every transaction.

[Daniel91]

If you use bitcoin only personally, for yourself, I don't think that you need any official approval from your country, government etc.
Just buy bitcoin and enjoy profit.
Nobody can control you.
When you need some funds, exchange to fiat and withdraw.
If you wants to start some business with bitcoin, than it's completely different matter.
For business you have to follow all laws and regulation and pay taxes.

[Promipunit]

In my country, you can buy Bitcoin or any cryptocurrency, its not illegal but govt doesn't support it. Its all on your own risk. And now govt is pulling  anking support from the exchanges, so no fiat to crypto trading. But still, Bitcoin is not illegal in my country.

[danyakotletkin2018]

If the currency will support the state there will be more investors.  The trust of citizens to this crypto currency will appear.

[eashikde]

Because the approval of bitcoin is pursued by a number of rules under which the government can fully control this cryptocurrency. Without this, it remains outside the law and through it it is possible to do various illegal cases without paying taxes.

[Leo Barnes]

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

Bitcoin does not really need of an approval of the government because bitcoin is autonomous in nature meaning independent, sovereign, free, unmonitored.

[TheClownSong]

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

Indeed, transaction using bitcoin for payment in merchant need government regulation. Beside that, with more bigger bitcoin transaction in market, government want to collect tax from that transaction and to collect taxes, government should make regulation on bitcoin trading

[jakezyrus]

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

Bitcoin does not really need of an approval of the government because bitcoin is autonomous in nature meaning independent, sovereign, free, unmonitored.

that is right. bitcoin does not needs aproval because it is only built online without anyone controlling it. though some countries are strict when it come to new technology that they are not really familliar with. the government of a certain country can still set a rule or a law because they do still control their country. other reason is that they are anti bitcoin because they cant totally put a tax or any other charges thru it.  they are arfaid because if more people can recognized bitcoin , sooner or later all people will now use it and the fiat will be totally forgotten . which means they cannot earn an incentives no more.

[kok jujung]

I think legal bitcoin anywhere as long as there is internet connection only, the government is just watching and can not do much

[lehuyaxib1]

It's only depends on market

[krixi]

Bitcoin needs the legitimacy of nations to bring the unification of electronic money
Most countries have realized that increasing demand for electronic money and acceptance of bitcoin in some countries will lead to more countries adopting bitcoin as it is a new development trend.

[sublime5447]

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

Do you live depends fully on crypto without Fiat intervention at all? How can you access the internet? Do you have direct transmitter to a satellite? Does the electricity you’re using come from a private power plant? Does the police won’t know all the things you do in your home? So why do Bitcoin need approval from countries?

[kingkonjac]

approval may be for the ICO`s or whoever wants to accept payments with btc can use it in their business model without seeking legal attention from the representatives of the finance/ 

[jademacoy]

This is only for the good of the people living in that country like here in the PHilippines where local exchange had given license to operate exchanges from fiat to crypto. And in the process KYC is needed in order to trace those people that might use cryptocurrency as their means on illegal transactions. The higher the amount it involves the higher standards of KYC will also involve. You could not get your money unless you obey the rules and regulations.