Why bitcoin requires approval from countries ?

[mithuz]

Some countries don't consider bitcoin and other cryptocurrencies as legal. Yet, so many people who used it already. However, we have to consider the regulations for digital currencies addressing licensing and enforcement provisions applicable to money transmitters and currency exchanges.

[Spontebob]

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

Approved or legalizization the use of bitcoin makes businesses, enterprises or companies accept bitcoin as a form of payment but still, declaring and banning bitcoin would be difficult for trading purposes.

[angelakrasnova]

now the crypto market is quite dangerous! because it is very easy for people here to lose their money, invest in math projects or lose on the stock exchange! The crypto market is very young, and until the end it is not clear what to do with it and what are the consequences! but I am sure that soon all countries will follow Germany, South America, Canada, Australia ..... Major investors and large projects need support and security from the state!

[rukawa101]

I think approval isn't necessary because some other country doesn't label it as illegal nor legal. I think they just approve is for recognition

[Cody Blare]

 Bitcoin become legal only if government accepted that particular virtual currency.there are countries accepting Bitcoins legal and can be paid as mode of transactions like banks. In countries like India bitcoins are not legal and in USA it is legal.
 The other reason is people around the world are interested in virtual currencies and day by day it has been rocketed up in this digital world. So due to vast usage of people some governments are approving parliament bills to make it legal .

[swabelang]

what's the problem of not approving the bitcoin in country. partially, Bitcoin does not require an approval because You can use it as long as you have internet connection that will make your bitcoin to grow.

[mdrakibul]

Bitcoin works only on the Internet. Therefore, all operations are performed on the Internet. besides this bitcoin, is a decentralized currency, so that no one regulates or controls the institution.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.

[Frisianhug]

Currently, my government has not approved the use of bitcoin in any transaction but does not limit its citizens to use cryptoctocurrency in its transactions. The central bank approves the use of bitcoin in remittances only but they are studying the possibility of legalizing it someday.

[marlouied04]

Because government controls everything, they controls what should go in and out in their countries. like bitcoin it produces money so the government evaluate it if this kind of "company" will do good for our country.

[vvaswert]

In legalization bitcoin needs an approval so the country really accepting cryptocurrency, but in the philippines i think its hard to legalize here because government protecting the piso and its hard to get the taxation of value.

[jennygamilo]

Actually you really don't need approval from the government or on that particular country the only things that you need is internet connection device and most of all your patience as a bitcoin users the only reason why bitcoin neefs approval is to make it or for bitcoin to become legal .

[BILGPS]

Bitcoin is good currency if the country allow this then the people will understand that it is true and real while now man people across the world are waiting that when the country took the responsibility that bitcoin is legal then every one will do openly and use bitcoin.

[Napole0n]

If it does not get approval from countries is certainly very difficult to be developed, it is proven that the state that bitcoin banned like china then there bitcoin transactions decreased drastically because users are worried about getting punishment from the government.

[JavaScriptlk]

It is not necessary. Bitcoin doesn't need any approval from any countries. Even it is banned in some countries now, It is still alive without any approval

[mathew232]

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

Bitcoin doesn't need to approved by any authority or government. The only approval which is need to make legal in that particular county but still you can use it.

[elpape225]

OptiToken gonna open around $6 or $7 on C2CX

[kangkilokang]

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

I think bitcoin needs to be approved by countries. bitcoin is one of the most popular digital currencies in the world.
not excessive if bitcoin requires approval from countries in the world. once approved, many entrepreneurs will use technology that provides crypto currency. Germany in this case one of them.

[raden1922]

with state approval, that means it is legal. of course bitcoin can be used to transact legitimately on the sale and purchase or trade in the country. and does not violate existing regulations in the country.
it's in my opinion.

[btcjocan]

with state approval, that means it is legal. of course bitcoin can be used to transact legitimately on the sale and purchase or trade in the country. and does not violate existing regulations in the country.
it's in my opinion.

It should need to be approved by the government, to assure the people who use and make transaction with the uses of bitcoin. When the government on it's country approve and ligalize the uses of bitcoin, it will be more applicable to use.

[jjacob]

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

It just provides legitimacy to Bitcoin and more people will feel comfortable investing in Bitcoin. A lot of people, apart from institutional investors, are concerned about the reputational risk associated with cryptocurrencies. With the government clarifying its stance, they may go ahead and invest.