Why government announce bitcoin is illegal?

[94K]

Those governments announcing btc being illegal are one way or the other investing into it. They know that bct will be one the currencies to overtake the digital world and also their fiat currencies and therefore has to frown to it.

[EllieBasti05]

Because, scammers use bitcon as a bait  and involve a lot of money. That's why government announce it is illegal due to scammers.

[qumeijia]

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

Yeah, Bitcoin is very useful and potential for us.
It is considered to be illegal because it has no an authority regulating Bitcoin. The reasons is bitcoin is decentralized system, government claim that is not secure and full of risks. And it is potentially to be hacked. Through the security reason it is banned in some countries. Hopefully, there will be regulation and policy about it. 

[jcarlo]

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

Bitcoin in many country illegal because government dont have regulation on cryptocurrency. Cryptocurrency is 9 years old and government still learn about cryptocurrency and bitcoin. I am believe in near future, government will regulate bitcoin and cryptocurrency because many advance country already regulate cryptocurrency and allowing crypto for payment

[aoihs00]

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

In short your first statement itself tell us why it is being banned everywhere. It's being the most powerful crypto currency ever. Lolz ;-)
Well, with the increased use of bitcoin people have started to use it in wrong way. General people are using it to avoid the taxes filing by keeping the funds in bitcoin form and thus making untraceable for the tax department. While on the other hand criminals are using it to pop their weeds. That's huge loss of goverment and thus it affects national development as most of the money is wasted in the bitcoin according to government. This is my guess about it and truth about my local government. And should be the same reason for other countries too.

[tommisetiyawan]

Maybe the government only knows that bitcoin is used not for crime or transactions for illegal goods, examples such as drugs and others. They don't know the positive value of bitcoin, which they know is only negative.

[microwave]

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 have items, merchandize or bussiness intepreniur is not registered to government thats automatically elligal thats why they called bitcoin is illegal. But for us bitcoin is really useful and quitely help to the new person  user who want to built their own business using bitcoin and also this is really tested actualy.

[jikurpa]

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

in my opinion, many countries have legalized bitcoin as a valid and official currency as a legal payment instrument, if the country still has not legalized at this time it might be legalized in the future

[manyu22]

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

Yeah, Bitcoin is very useful and potential for us.
It is considered to be illegal because it has no an authority regulating Bitcoin. The reasons is bitcoin is decentralized system, government claim that is not secure and full of risks. And it is potentially to be hacked. Through the security reason it is banned in some countries. Hopefully, there will be regulation and policy about it. 

indeed, bitcoin is very useful and potential for us. bitcoin is considered illegal because it does not have the authority to regulate bitcoin, because the original identity is unknown. but for my country there is no certainty that bitcoin is illegal or not. and if anyone says that bitcoin is not safe and risky? it's wrong, depending on the user if I think

[robelneo]

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

They have a good intention, they just want to protect their citizens and investors from scam ICO, it is really the fraud ICO that must be blame here, they offer nothing to the table unless these scam ICO are minimized these countries will continue to ban Bitcoin and cryptocurrency.

[Moblie_Legend]

Cryptocurrency is considered to have negative consequences and high risk to traders. Such as, crypto market volatility, potential fraud, anonymity, and the existence of contracts that have no legal or fictitious power.

[shendy]

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

They have a good intention, they just want to protect their citizens and investors from scam ICO, it is really the fraud ICO that must be blame here, they offer nothing to the table unless these scam ICO are minimized these countries will continue to ban Bitcoin and cryptocurrency.

What the government is doing is good, fearing that the public will go bankrupt and sees if it fails, besides that it cannot be controlled properly, anyone who uses bitcoin.
Surely many will understand this, but for those who are ready to take all risks, they will not be afraid of the government.

[wxa7115]

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

You are either on the side of the people or on the side of the government, governments are realizing that if bitcoin is allowed to move forward then they are going to lose everything they have worked so hard for the previous decades and the people managing the government do not want that.

There are two ways for them to react, one is to try to regulate the market and the other is to ban it, they are realizing that trying to regulate the market is going to only slow down the adoption of cryptocurrencies in general and nothing more and they are expecting that a ban works better but they you will soon find out that is not the case.

[mansanas46]

This is based on the used of bitcoin in the cyber underground market.
It is used to buy drugs, weapons, and other illegal goods that may be used as
to create chaos and fraud in the community.

[Faeton]

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

So far, only five or six states have declared bitcoin an illegal kind of money. But in general, states are really cautiously supporting bitcoin and generally decentralized crypto currency due to the fact that it can not be fully controlled and therefore some of them are afraid that the money supply will be uncontrolled out of the country, and this will have a bad effect on the economy. Also, some states consider bitcoin a financial bubble and therefore a very risky type of investment for the population, especially after its December price rise. Therefore, states can legalize the decentralized crypto currency, however, it will never actively support it, and state structures are unlikely to ever switch to the use of decentralized crypto currency. Most likely, it will remain a means of use for ordinary people, and not for state structures.

[anatolykarpov]

Because banks and governments are scared of the decentralized tech. which gives financial freedom to the people. Banks and governments would not want you to benefit from this. However technology can not be hindered. Eventually they will have to accept.

[agon21]

 the reason is that maybe bitcoin is used for illegal transactions and unreachable by the central bank

[Ayush rana]

I think government need control over crypto but blockchain is technology which is not allowed someone to centralised it.
This is yje only reason bitcoin is illegal in most of countries or in neutral phase. One more reason i want to add that bitcoiners are not paying taxes on their capital gains from bitcoin that can also be reason for illegal.

[tuturutmunding]

the government cannot control bitcoin
so that bitcoin is no longer used by everyone because the government is worried about the occurrence of many frauds when making transactions and investments besides that bitcoin is very easy to make money laundering tools that can harm the country and bitcoin is also often used as a tool for illegal fundraising

[lorapalmer]

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 the countries claim that bitcoin is illegal. In many of them crypto is still legal and makes a profit to the countries by taxes. I hope with time governments will gradually accept and legalize crypto as they can't fight against it forever. The future has come.