Why government announce bitcoin is illegal?

[willybacem]

Not all countries have legalized Bitcoin. We know the major countries in Asia there are some already provide rules on the use of Cryptocurrency. They see that the potential of this very large Bitcoin human life. Many people in the world because they know that Crypto here could produce a lot of money.

[IamKnowledge]

The reason is simple. Governments of several States have tagged bitcoin as "illegal" because they cannot obtain any internal revenue from its operations.

[euronine897]

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

Most countries do these kind of announcements against Bitcoin and most digital currencies due to lack of understanding about the cryptocurrency market or the crypto world so many think by allowing crypto assets to use in there local communities and with core financial transactions negative effects can be happen on there stabilized economy but still they cannot stop there people investing in Bitcoin and that is why they use media to make false accusations   

[ridertiger]

Which government announced that it is illegal? Can you give us a link or something?

[nakarp]

some country government dont know about bitcoin but some time after bitcoin world wide.

[basyang]

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

Indeed, but we can not blame them though. Government officials has a lot of knowledge in the economy of their country, they study well what could be a good source to support the economy of their country. However when it comes to bitcoin some Governments are not see that bitcoin can be a huge help to them, because it was a decentralized and they knew that they can not control it

[Hydroid]

The main reason behind government not legalizing Bitcoin is because they are afraid of the decentralized feature of it. You can stay anonymous and no one will be able to locate you while you make transactions through Bitcoin. So, governments are concerned that criminals will take advantage of that.

[daviddaniels]

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 has been involved in terrorist funding. So, they did the right thing

[Leenkoranan]

Lots of reasons why government announce that bitcoin is illegal its because lot of our countrymen using their illegal transactions in the name of bitcoins, so the thoughts of our government that this is illegal, those who earned in this crypto are only knows how it is helpful for us we only can say that this is good..

[rudox]

The governments of those countries that label bitcoin illegal are doing so because they want to control  bitcoin. Unfortunately bitcoin is decentralized and can only be controlled by the  market sentiments. Bitcoin still remains the future of financial transaction which the world is waiting for.

[cc80aa]

   absolutely yes, bitcoin is illegal in some countries that finish proxecuted but we have also some countries that acknowledged bitcoin without the final verdict  of the house.bitcoin is with out of their Law to comply in government they need owner to represent bitcoin to registered.

[tonyvo2017]

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

The government's announcement that Bitcoin is illegal is not too difficult to understand. Due to its overly good features, it actually does too much to do business by eliminating the third party and the supervision of any organization. It is illegal to do anything illegal and trafficking in human beings has been discovered recently.

[jordankoa30]

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

Money laundering, drug trafficking or human trafficking is the basis for the government to declare Bitcoin illegal. Bitcoin's vulnerability in this regard is because it performs too well the information security function. That makes it used for illegal things. Bitcoin just does the job it has to do and it's hard to find a consciousness in anyone's use of it.

[KeepupSlim]

Not all countries say that Bitcoin is illegal, only few of them infact do. Mostly they say it because they are afriad of it and don't know how to treat it.

[Zalaster]

The problem is that bitcoin is decentralized, which means that it is almost impossible for them to manage at the state level. The government can not control its movement, which, you see, is convenient for scammers. With its help, you can launder money and perform other shadow operations, without fear that you will be found.

[KissyPiggy]

The governments that are concerned about losing their part of revenue which is collected through tax usually banned Bitcoin. When people use Bitcoin, they are not operating under any bank or authority which makes it impossible for government to put charge on their expenses. So, they don't legalize Bitcoin.

[iqlimasyadiqa]

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

No, not all countries say that bitcoin is illegal. there are still countries that consider bitcoin to be legal. besides that, most countries have not yet decided on the action for bitcoin, they all still think that waiting is the best thing. so what we have to do now is to continue to use bitcoin and continue to try to increase financial transactions using bitcoin. by increasing the use of Bitcoin, we will automatically increase the development of digital currencies.

[drm]

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

Worldwide all countries have announced it's illegal?
What on earth are you smoking?

[Evil eye]

Bitcoin is a popular online currency. But still the government of some countries banned Bitcoin. Because the criminals carried out illegal activities by Bitcoin. And some countries think they can not control it. So they do not allow the use of Bitcoin. Bitcoin can not be identified by the transaction or who is doing it. This could be a reason for bitcoin ban.

[Posadao]

This is not right. Not all the countries baned Bitcoin. Some of the countries of the world declared Bitcoin is illegal.
Specially developing or underdeveloped countries.