Why bitcoin requires approval from countries ?

[rexona]

actually bitcoin does not require approval from the state, as long as there is internet connection we are free to use it, the approval of the state just to make bitcoin more official for use and can be made for the means of payment or buying and selling of goods using bitcoin.

[jeamfpvd]

Are you sure that Germany has recently approved the bitcoin? If this is the real news, it will bring a super bull market, and Europe will always be the center of the blockchain.

[MbakNarti]

Probably because bitcoin is a digital currency that can not be set by any country so bitcoin must have permission by any country that wants to use bitcoin, and if bitcoin does not have permission by the state maybe bitcoin will be an illegal transaction so bitcoin must have permission by all countries

[pixelvault]

Most likely barriers that BTC will face in certain countries is either the local currency feels threatened or they are worried about their citizens being scammed.
Nothing happens over night and fiat for example is taken very seriously.

[Man From The Future]

I do not think bitcoin should get approval from every country, because not all countries agree on the existence of bitcoin. This can limit the bitcoin space, since bitcoins are controlled by the state. The positive impact of the approval of various countries that bitcoin prices are more stable and can be directly used for trading in all countries. Certainly the development of bitcoin is also influenced by every country.

[aladlanie04]

bitcoin is not physical assets  or physical form of currency bitcoin is  digital form of currency important nobody can trace bitcoin  send to whom importantly thats why exchanges ask the kyc to upload it to identify the customers  countries also need some approval some rules to exchange use it else  people hack or scam the innocent people by running ponzi schemes and chain networking mlm  so its fair to avoid such types of things  countries need to approval of bitcoin so they regulate to avoid bad things

[whoisyourking]

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

You dont need approval to use bitcoin, Approval is just a part of embracing the bitcoin technology in different countries, there are so many countries are adopted this technology to use in their country and some did not those country who did not approved to use bitcoin already banned bitcoin to their country.

[Silberman]

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

Countries approve bitcoin or crypto currency in general to be legalized in their country and they want also to regulate the usage of it to ensure that their citizen who invest may not put risk on their investment. that is why most countries require KYC to ensure that bitcoin or crypto coins will not be used  for money laundering and other illegal business.

That is not the reason, governments are not doing this to protect the general public and their money, that is what they want you to believe, they are doing this so they can slow down and if possible to stop the adoption of cryptocurrencies, if it reaches a particular level people will be able to store their wealth in a place they cannot reach, something they do not want especially when a new economic crisis appears and they have no option but to tax your wealth.

[muneeb.zain]

As many countries have already approved the bitcoin in there is being legalized but whenever some new thing must be launched anywhere in the world the company would have to take the approval from the state so that the state have its own rules and regulation.Whereas the bitcoin is the digital currency so it might cause the damage to their national currency or effect the economy of that particular state so its very important to take the approval for that.

[assyla]

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

Bitcoin requires to be approved because it is very complex thing that need a time and effort to be better or improve. If the government approve it then it can also be a stepping stone to bitcoin and also some shops may accept bitcoin because it is being accepted by the government.

[soname12]

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

I think Bitcoin does not need requires approval from countries, Bitcoin has always been widely used and just need an internet connection. Maybe the government wants to make more taxes, so they have banned Bitcoin, and now Bitcoin needs to require approval from countries

[nickwen]

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

I think this is a ridiculous thing. In the years 2009-2016, the government did not interfere with blockchain technology. Since the bitcoin price increased to $ 20,000 and after that Bitcoin has been banned in many countries

[Nolimitz84]

The approval is necessary in order to give a start to the legal regime of crypto currency. After it is approved, many businessmen will use those technologies that give crypto currency. Germany in this regard is very punctual. In this I like this country.

[Jessica2009]

  Bitcoin is a digital and decentralized in nature some undeveloped countries do not like Bitcoin and developed countries that are  highly developed in technology approves Bitcoin .If we use Bitcoin personally I don't think that there requires any approval from any country or officials we can just buy Bitcoin and enjoy profit from it. If you need any cash or fund exchange the Bitcoin to fiat currency and if you need to start  any  business you should abide the rules and have to pay tax .

[A Feeder]

Others countries are approved of bitcoin but there's some countries are didn't accept bitcoin because they afraid that they can't control bitcoin. Approval of bitcoin to every countries is really good because they can easily process their bitcoin to any banks that no worried and also you get your profit.

[sdjhjsdfghsjgqwe]

Doest it really matter or affect something? Who cares i guess...

[abramovger]

Every country has its own laws regarding currencies allowed to protect its citizens. Thus , you will find different rules everywhere.

[htsz_da12]

Without the support of every country, these countries will crack down on and prohibit the trading of BTC, which of course will cause the price of BTC to fall.

[RudeeTam]

The government don't usually get in the way of you making money online. But when something goes in the millions of dollars worth then they take notice and take action. They also take notice when people complain about scams. On one end, they just want to protect their citizens from scams. On the other, they want their share through taxes.

[carlisle1]

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

Bitcoin is currency and i dont understand whats that needed an approval?

Governments having policies regarding cryptocurrency because of many issues about scamming,laundering and illegal activities that involving crypto specially bitcoin. Thats why they need approval,but this coin can be used if you have internet and gadget ,they can only banned this if they cut the internet of that country