Why bitcoin requires approval from countries ?

[bat11]

Approval of bitcoin by other countries means making it legal to use in their nation. But technically speaking, bitcoin can be use anywhere anytime by anyone with or without approval of their country.

[fipper]

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

the possibility of approval is done because the government wants to use the economic system with bitcoin because we know bitcoin is a currency that uses advancement of time and technology

[Cowming88]

Bitcoin need an approval to the countries because this is part of the changes and acceptance are also needed, if one country has a changes then they need to make the government rules and regulation so that people will prevent the unnecessary action.

[BountyGram]

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.

I think the approval to other country means its validity and regularization, for Bitcoin to be legalize, it should be studied by the country who will accept it as one of their currency, some countries are adapting bitcoin and accepting it as payments there are also some that prohibited it.

[devale]

 the governments have record of investment and sources of their countries and in order to business operate with btc or coins their approval is needed  By doing this government can stop or reasonate btc with illegal activities.

[collision00]

It doesnt truly require any endorsement or be sanctioned for individuals from a particular nation have the capacity to utilize bitcoin and even a nation restricted its utilization individuals can at present utilize it however the issue is individuals cannot exchange it for nearby money or utilize it for installment. After an endorsement from a nation obviously individuals can unreservedly utilize bitcoin locally and trade it for fiat without stressing that you are completing an unlawful movement.

[BennyK]

There are more people out there wishing to invest in Bitcoin but live in fear, uncertainty and doubts about Bitcoin due to the frequent attacks coming from the banks and governments. Once Bitcoin is approved in a country, a lot of investors in that country calm down and are able to invest under no tension and pressure.

[coinnumber]

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

the possibility of approval is done because the government wants to use the economic system with bitcoin because we know bitcoin is a currency that uses advancement of time and technology

Approving bitcoin in any country to my understanding simply means that bitcoin can be used as means of payment and transactions as well, some times it might not be accepted generally. When a country is not accepting bitcoin you can trade it online but you can't exchange it with the country fiat currency so automatically it become useless to the owner.

[roll on]

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

Why bitcoin requires for approval from countries? Maybe because its just like you are oppening an business you have to get an permit or permision for oppening an business.

[Prince Malik]

If a currency be approved in a country This means that it will enter the list of currencies allowed to be dealt with...about the use of bitcoin is legal once you are connected in the network

[Ava Duvall]

i think the official approval gives people the confidence to invest, it show them that crypto is "official" and government approval gives a sense of security.

[Elexsis]

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.

I think it will took so long if that happens as what you have said approval for the successful usage of currency in bitcoin besides other countries don`t consider bitcoin its because it is illegal and prohibited by the government laws also.

[pendong101]

btc don't really need any approval they just approve it just to recognize it or make it more legally

[basyang]

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

It really requires to approved bitcoin by the govermment to be legalized, because there is some transaction that needs the government to know and I think there is so much opportunities to be planned if the approval is done. Nevertheless, it is really good if bitcoin can be recognized it can be used legal and freely just like other currency all over the world.

[iASIC]

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

It really requires to approved bitcoin by the govermment to be legalized, because there is some transaction that needs the government to know and I think there is so much opportunities to be planned if the approval is done. Nevertheless, it is really good if bitcoin can be recognized it can be used legal and freely just like other currency all over the world.

Bitcoin requires approval from the state as it will make it widely and strongly invested. As such, it will achieve certain stability and value as a currency. People will switch to using Bitcoin at this time because it makes transactions faster and safer. I think governments will soon accept Bitcoin.

[ichai]

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

It really requires to approved bitcoin by the govermment to be legalized, because there is some transaction that needs the government to know and I think there is so much opportunities to be planned if the approval is done. Nevertheless, it is really good if bitcoin can be recognized it can be used legal and freely just like other currency all over the world.

Bitcoin requires approval from the state as it will make it widely and strongly invested. As such, it will achieve certain stability and value as a currency. People will switch to using Bitcoin at this time because it makes transactions faster and safer. I think governments will soon accept Bitcoin.

Bitcoin is still experiencing many fluctuations in the market. Although its potential is huge, this steady decline in prices can make it very difficult to find the source of investment and the opportunity to be seen as a currency. Therefore, Bitcoin's request for government approval is an important decision in its search for stability and sustainable development.

[Ar Rahman]

I think it does not have to be approval from some countries, if we use bitcoin in one country and there we get permission from that country I think we are legitimate in transacting or exchanging fiat money, but if bitcoin really want in gunaka as global currency fiat around the world, and require permission or legal approval from countries around the world, but for now for anyone who already has bitcoin does not find it difficult to use it in transactions or in trade.

[AdamRay]

I think it does not have to be approval from some countries, if we use bitcoin in one country and there we get permission from that country I think we are legitimate in transacting or exchanging fiat money, but if bitcoin really want in gunaka as global currency fiat around the world, and require permission or legal approval from countries around the world, but for now for anyone who already has bitcoin does not find it difficult to use it in transactions or in trade.

Bitcoin now needs a large investment to achieve the stability that is lacking, with this stability it will be seen as a currency. Asking countries to accept Bitcoin allows it to do so. When Bitcoin is secured, it will receive a large amount of investment and become more popular in transactions.

[Chattym]

Well, I wouldn't say it "requires" approval. You can use it whenever and however you want, but to turn it into fiat and use it further like, say, depositing it to the bank you will have to explain where the money comes from because it might imply that you are engaged in terrorism and other illegal stuff. So, unless it is officially approved, its use is very limited and if you want to use all the benefits it offers you are interested in its approval.

[jademacoy]

This is because the government are always watching or looking for the good of the constituents and if there are new systems that is new it should be review by the government if it needs regulations then probably it should undergone regulations. This is the rule of the government that should provide the good of all its constituents.