Why bitcoin requires approval from countries ?

[Felchel]

Because they are noticing that if the country allow crypto then they will invest risk freely, but 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 him.

[moonami]

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 they want to know and secure if bitcoin is Legal. For me all countries needs this kind of restriction especially for this kind of Altcoin or Payment method where sure money is involved

[PeRo]

Bitcoin actually does not require approval of any country. The 'approval' means that Bitcoin is legal in that country so that people know that they can freely use it. Those approvals exist because some countries make Bitcoin illegal so countries that have nothing against it announce that they approve Bitcoin as a currency.

[airdnasxela]

Well technically,  bitcoin do not need approval for the countries' government. It is just that,  if they stated that they have approved bitcoin,  it just means that, the specific country have accepted bitcoin and acknowledge it as a legitimate cryptocurrency. What does it can do for bitcoin?  Well,  acknowledging bitcoin is like an advertisement of bitcoin to that country.  It they accept bitcoin or approve it,  it open doors for opportunities.

[Gramna]

To be honest, I think it is best if Bitcoin is approved by the government, but it is not a necessity. There are countries that doesn't have clear status on Bitcoin if illegal or legal but then a lot of their people are using it and into it. It is something that adds trust and confidence of people that Bitcoin is something that they can do especially since it involves money and investments. And for those who ban it in their countries, they should know the reasons why their government did it, so at least they will understand why they need to follow such law or regulations.

[Basaleyi]

Actually bitcoin not in need for country approval to be adapted worldwide and i don't think current regimes will allow bitcoin or altcoins to be fully approved for an official use because of wealth share redistribution through coins blockchain again with scenario of banks collapse .

[kramat]

I think the government's approval is necessary for the convenience of the users and also the security of the state if at times there are undesirable things and can make the right price when the agreement is done

[ashfer]

    Since people dare to take risk, people needs Bitcoin to be approved by the government . Bitcoin is a digital and decentralized one and there is no third party involvement . The legality of Bitcoin varies from country to country and I don't think that Bitcoin will be totally banned .Bitcoin is said to be illegal in countries where technology is not developed much .Majority of the countries do not ban Bitcoin transaction and has legally approved. Since Bitcoin transaction is done without a third party or government the consumers are scared because of scams also.

[nightxglow]

Well it's not really a must to get approval from the country, since even without the approval bitcoin still can operates.
But good things will happen better if the country support and accept bitcoin, at least they may do some things that will give benefit to bitcoin, introducing bitcoin to more people and get it more well known.
We can also access bitcoin freely and even enchance the probability for us to have many places to use our bitcoin to transact, and others.
And it will also remove the bad impression of bitcoin being illegal, bad and others if the government choose to accept and support it.

[soros008]

bitcoin need approval because of peoples can invest confidently, if government can't approve then also people can use this cryptocurrency and if they have internet connections but this currency have bright future still how much investors taking interest in this currency if this currency get approval then what happen so every country Should accept it and make their economy strong.

[Raidal]

Obviously bitcoin requires revenue from countries around the world because bitcoin has the purpose to become a legitimate currency recognized throughout the country. Bitcoin wants more open accepted wide society as a means of payment. When all countries have received bitcoin, the easier bitcoin step becomes the legitimate currency. But the amount of bitcoin is still limited this course can inhibit the wheel transaction bitcoin. Preferably before bitcoin wants to be recognized all over the country then bitcoin must make repairs first.

[Eigig]

Bitcoin requires approval from countries because it is a currency , the government  should be able to regulate the bitcoin movement , transactions , because the government does not want to be blame ,if there are instances that people wants some justice for their investment.

[KingOfWinterfell01]

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

Because bitcoins are very volatile and bitcoins are easy to transact to the point that a lot of people are actually using bitcoins to launder money over to other people overseas without the feds or the internation police knowing it. That's why it needs approval or even regulation.

[wizmo]

Bitcoin doesn't need any approval since it can be used from anywhere and anyone can use it but country does make laws regarding it so that it can not be used for illegal things and they try to control bitcoin by making laws and some countries try to ban because they think that it will affect their economy or they think that it will be out of their control.

[Darz299]

Because if a country approves or all it's country to use bitcoin then the people in country will be more free and free to use bitcoin in everyday life,bitcoin can be directly used without having to exchange it first in to the country's currency.And it will probably make people more comfortable in using bitcoin.

[DesiHunterrrr]

Bitcoin is not required for approval of any country but most of the countries banned cryptocurrency that's why Bitcoin is not approved by these countries like China America it is a sad story hope you understand what I am trying to say thank you

[walemil]

Until the time of investment approval, bitcoin may be considered illegal in the country and it has been probably prohibited by the government of the country. The approval is therefore to let people know that they can deal freely in bitcoin and it may come with some guidelines, rules and regulations.

[Techfrog]

Because under their laws, bitcoin can be obsolete if they start putting people in jail because they are using bitcoin, just like it happened on other countries. That is why i do not want to see bitcoin regulated, at least, in where i live

[darkangel020716]

Until the time of investment approval, bitcoin may be considered illegal in the country and it has been probably prohibited by the government of the country. The approval is therefore to let people know that they can deal freely in bitcoin and it may come with some guidelines, rules and regulations.

Exactly, bitcoin cannot be used in some other countries because of that, before a country takes in some business especially when it comes to currency, the first thing that they will do is study and put some regulations from it, approval is the word for successful usage of the said currency.

[beckspace]

Bitcoin doesn't require approval from every country, but many people appreciate the legislation in their own country and invest more comfortably in bitcoin, which has been approved by the country. In terms of taxation issues, there is a very important problem for people.