Why bitcoin requires approval from countries ?

[jeronimosuykens]

By approval they mean that legislation was made in regards to crypto currencies. While Bitcoin is a decentralized currency which means that it doesn't needs the approval of any country but the approval is needed by enterprises so that they could create services in the crypto industry fear free.

At present, the implementation of Bitcoin approval by many countries has been completed and many countries are seriously studying Bitcoin and cryptocurrency. I believe the growth potential of BTC and cryptocurrency will be good as more and more countries adopt and use it.

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[syarifudin]

bitcoin does not require approval, because bitcoin is not real bitcoin is virtual, bitcoin can be used anywhere from internet network

[Shohanur]

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

Bitcoin is not acceptable all over the world. In some countries, it is illegal because government is more concourse about bank and they are worried about it.

[Hypnosis00]

Bitcoin is an online currency and it is not that trustworthy like the fiat which have an origin of which country it came from and there is a government supporting it but the bitcoin is just an online thing and it requires approval so it can regulated by a particular country so it will be safer for the other people to use it in terms of transaction and so on.

[nazarovv]

nobody needs approval in order to utilize bitcoin. just an internet connection and a device.when bitcoin is not approved in a countries that just simply means no sevices shall be given in exhcange of bitcoin or no legal merchants of bitcoin will be allowed

[Farrahyap27]

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. There are 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.

[Silberman]

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. 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 and more. Bitcoin of course every user will be burdened because the government will definitely limit every transaction that happened from each user.

This is their biggest fear if bitcoin were to remain at its current size governments around the world will not care too much about bitcoin, but they are seeing the potential it could grow to be one of the biggest currencies around the world and they do not like it, since the tight control they have over their populations will disappear and as a result they will lose a lot of power.

[gaurav82]

Every government has full record of investment and sources in its country. For free flow business Bitcoin needs approval. By this government can stop to use it in illegal activities.

[shafi alam]

this legalization is for you can use it like fiat currency. Seller can sell with bitcoin, buyer can buy with bitcoin.

[chaoscoinz]

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

Bitcoin relatively puts a new spin on existing technology.
The blockchain is simple, yet so complex. It works!
Most Countries rely on their current means of laws, and policies in order to function successfully.
    What Blockchain did was disrupt the financial sector, so much so, that it has opened up people's eyes to the benefits the blockchain is capable of.
   The safest measure for a country to approach the use of Bitcoin, would be to approach it with caution, maybe even suffocate it enough to control it from spreading, until they can come up with a good solution that almost appeases everyone.
   Think of the Y2K bug everyone was so worked up about. It was supposedly a real disruptor to all things digital, like stored records, money, data, etc.
   Bitcoin approvals should mean good news. It means it has survived the scrutiny of critics, possibly gaining favor in their eye. If parliament is considering leniency towards crypto use, is this not a good thing? Maybe...

[Emmax]

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

Talking about bitcoin being approved is good news. I know now that bitcoin will be legal in their country now. This good news can make the growth of the bitcoin to be increase.  With time I know bitcoin will be legal in many country.

[estupido]

approval should be necessary to legalize the problem let alone about this bitcoin, one should know whether bitcoin is legal or illegal in that country. and it's all to provide legal certainty

[DunnDy]

The reason for Bitcoin approval in the countries is very simple. It's about being allowed and legal. When a government of a state approves a cryptocurrency, it's legally permitted for use. Then all actions by the residents are legal and they do not have to fear about consequences or look for other solutions. Bitcoin approval gives its users the freedom to use it.

[Emmax]

this legalization is for you can use it like fiat currency. Seller can sell with bitcoin, buyer can buy with bitcoin.

Yes u are right. I know with time the world will be making use of Cryptocurrency. We all have to take advantage of this opportunity since bitcoin price is slow. Buy down now bitcoin because bitcoin will hit what we never imagined.  Price can not be guaranteed but I know for sure that things will change soon. Massive gain await those that buy down now.

[Nanashev]

BItcoin is not like fiat currencies that require approval by the law of the state before its transactions will be accepted. However, its approval will help convince all of people especially the ignorant to partake in crypto investment and its mining.

[mickeybuddy27]

bitcoin already feels comfortable to the holder and does not require approval from each country, if the state is able to give approval to bitcoin of course every user will be burdened because the government will definitely limit every transaction that happened from each user

I think one country has to approve bitcoin to be used by individuals because that is the only way of accepting bitcoin as well and make a regulations for it since bitcoin is not controllable by anyone. They have to approve everything that enters in the country for them to know how safe it is ad if their people are safe to have it and do not used bitcoin for illegal things.

[CHENIEN]

I don't heard any statement from any personnel of government that saying about total approval from government, but in my country bitcoin still operates without any forms of hindrances that government against for it, maybe government also look the total good contributions of bitcoin to their country that's why government gives freedom to bitcoin business.

[Cj29]

I think bitcoin didnt need an approval for the government.because there are lot of country that didnt legalize bitcoin but still people using it like us our country philippines not yet legalize bitcoin.But it will be good if bitcoin approved to be legal.

[tambok]

I think bitcoin didnt need an approval for the government.because there are lot of country that didnt legalize bitcoin but still people using it like us our country philippines not yet legalize bitcoin.But it will be good if bitcoin approved to be legal.

Bitcoin can enter in each country without approval just like what happened before but in the end still bitcoin needs the approval of the government for it to last since we all need the favor of our government, at the end of the day if it has an effect already in the economy the government has the right to decide.

[Ethan Argu]

I think they need study for that before to approval they need to know what could be affect in thiet currency, people , businesses and also in stock market. Some country has no potential to have a crypto in thier land but some country are applicable based on t
How they live and how the country rich. They want to make a strong and reliable reason why they approve it.