Why government announce bitcoin is illegal?

[sneeze11]

We know Bitcoin is one of the powerful and top coin in marketplace.
But world wide all county are announced its illegal.
I personally think that bitcoin is very help us for paying any payment.
Its has many facility.
But our government are announced its illegal

For me government announce bitcoin is illegal because they wanted to destory it. They know that if many people know that it is illegal there is a chance that it can affect the percentage of people that is working here to decrease.

[dewi91]

Because bitcoin is decentralization, the government will find it difficult to regulate bitcoin. In the country with high level of corruption, bitcoin can be used for money laundering and it Will make the economy of that country deteriorating. Many factors can be causes why the government announce bitcoin is illegal.

[al maruf]

I think spreading negative news about Bitcoin in Bitcoin, bad news of Bitcoin in different places and people around the world through publicity in the media. Apart from this, some dishonest people have caused Bitcoin damage to Bitcoin by using bad things. Unfortunately, the government looks at all these damages, fearing Bitcoin. So the government is declaring bitcoin illegal.

[ParveZ219]

We know Bitcoin is one of the powerful and top coin in marketplace.
But world wide all county are announced its illegal.
I personally think that bitcoin is very help us for paying any payment.
Its has many facility.
But our government are announced its illegal

actually there are many works done using Bitcoin which are not legal like the transactions made buy guns smugglers or drug smugglers then those transactions are illegal so the government is thinking that the Bitcoins are illegal because those are animals but after some days I think the transactions will be traceable and the government will urban bitquence in all the countries.

[Gontxi]

We know Bitcoin is one of the powerful and top coin in marketplace.
But world wide all county are announced its illegal.
I personally think that bitcoin is very help us for paying any payment.
Its has many facility.
But our government are announced its illegal

I don't think you are trying to find out and read it. because you say that every country prohibits bitcoin in other words illegal. and you are wrong, there are many countries that welcome crypto and bitcoin as other currencies that can be traded. for example, jepan and korea. because I'm Asian.

[BlackHills41]

There are some reason among them I think the vital reason is bitcoin is open and nothing can dominate it even governments rules also and it is the main problem.

[ExpediteStyle201]

Only because government can not get any benefit from it, neither they can control it nor they can get any tax from here or from the users or holders.

[BlackandRed654]

This is not a right concept and bitcoin is not illegal in all the countries in the world .Switzerland, USA and there are many other countries where bitcoin is legal and many countries are accepting this gradually. People do not have right concept regarding this and so many countries have not legalized this.

[ogtejiri]

bitcoin is illegal because its moved by unforseen elements and circumstances without the public having no or little knowledge about it. also laws and regulations relating to bitcoin can change several times a year as financial institutions adapt to the market shifts. this on my point is the reason why governement announces bitcoin as illegal

[BALIK]

Only communist country and authoritarian governments would even think of declaring bitcoin illegal. And the reasons are quite simple, Bitcoins undermines their control over their population and gives the people their power back. If you are a dictatorship, the last thing you want is people being able to spend their money freely!

[supremacy10]

Because they don't really understand how it works and it is complex nature , managing private key , public key and understanding blockchain terminologies

[TobMarshall]

The disadvantages crypto poses is actually threatening though. Yet, I believe with time is what they can not stop, it will eventually happen, digital currency has come to stay. The government can announce that way because that's what they seem to see it, but some other government are preparing not to allow the crypto to overtake them unknowingly, I believe that's what government are supposed to be doing, looking for means to help curb or lessen the crypto disadvantage.

[electrobit8024]

It could be the fact that it is a decentralized system and that the government feels powerless due to this fact. It could also be the reason that in the past a lot of illegal activities took place through BTC. Hence the government made it illegal.

[teejayrichard2]

government have several reasons for announcing bitcoin as an illegal means of transaction, especially based on the fact that bitcoi transactions are not being regulated. also, government has no control over bitcoin and government doesnt support anything they have no control over.but i strongly believe in years to come we will see government of all nations accepting and adopting bitcoin use.

[bitfocus741]

You are not right as bitcoin is not illegal in all of the countries in the world. Bitcoin is legal in the Switzerland from the starting of this market and USA is showing huge interest for this. Many countries are gradually accepting this.

[Peashooter]

We know Bitcoin is one of the powerful and top coin in marketplace.
But world wide all county are announced its illegal.
I personally think that bitcoin is very help us for paying any payment.
Its has many facility.
But our government are announced its illegal

Some government from other countries banned bitcoin in their country because they think that its illegal. We all know that some people use bitcoin in different illegal transactions, and maybe there is more specific reason why they think its illegal.

[Firefox07]

Every government has different perspective. And my country did not release a  statement that telling bitcoin is illegal. So don't tell that all country make bitcoin illegal.

[Blessing97]

Well with bitcoin and cryptocurrency in general comes decentralization; something that renders the government and it's respective arms somewhat powerless over the governed. Hence their concerns and efforts to ban bitcoin in whatever way possible.

[jonaire99]

There are some countries that considers bitcoin and other cryptocurrencies are not acceptable to their economies and might harm it if they allow the coins to be use by their people. They prefer a currency that can be controlled than a decentralized coin because they can easily monitor and prevent any illegal use of that centralized currency. Here in my country, the government is yet to legalize the bitcoin but they allow people to use it in any transactions.

[Baekhyun]

We know Bitcoin is one of the powerful and top coin in marketplace.
But world wide all county are announced its illegal.
I personally think that bitcoin is very help us for paying any payment.
Its has many facility.
But our government are announced its illegal

not all countries consider it illegal, even many countries have been encouraged to legalize bitcoin. The digital age has now begun and the government is starting to compete to compete in the international economy, cryptocurrency technology can be a thing that will be popular in the future, and countries that cannot accept bitcoin will probably be left behind.