Why government announce bitcoin is illegal?

[kamoto]

Well ... quite a simple question, you can logically guess. Bitcoin is a very serious threat to the government, because because of this the government is not just losing money ... it is losing control over money, which is even more serious and dangerous. So really the prohibition of bitcoin is extremely beneficial for the government ... however, a decentralized currency is not so easy to block completely

[Nanot]

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 reason why government has been announce that bitcoin is illigal because it has no taxes in able to deal with any transactions of the government payyments so that i know that all is governed by this law so that it is not being protected . It was being an illigal because they only uses  bitcoins for bad havits.

[cryptohunter]

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 likely live in a shithole undesirable place... move to somewhere better.

[pltgksl]

Because they have no capabilities of control it or they scare from it

[Bugcoin5]

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 feels that bitcoins those of virtual currencies may encourage illegal transactions.But Not at all countries, Whereas some countries such as Japan and Mongolia recognize Bitcoin as currency of its own, others like the UK see it as a commodity and in this way try to regulate Bitcoin.

[Hourpre]

I think it is not illegal in all of the countries in the world. Govt just warned about its bad sides. It can be use for money laundering and many terrorists can get fund from it.

[A S Valentina]

BTC is a decentralized currency . And should be transect for many illegal work because there are no one who mange it. That's why many country  are not feel better to accept BTC for a legal currency.

[pathapoddo]

As Bitcoin has no rules or regulations, limitations, so we can't ruled over bitcoin. So, any one can use it fir illegal activities, that's why government announced bitcoin illegal. And also if we use bitcoin or earn bitcoin, there will not be any record, so government can't record our earning that why they can't tell us to give exececive tax. That's why the annouced bitcoin illegal.

[Cimmy_revenger]

some countries maybe not full understand blockchain technology.
or the government in the country wants to protect its people from criminals through Bitcoin.
because Bitcoin can be used for anything, especially cross-country payments without supervision or regulation from the government.

[Vickyrichy]

I don't think bitcoin is the most powerful coin in the world. Bitcoin is the most popular digital currency which has made transactions of goods and services online more easier with less charge fees. Most governments are against the use of bitcoin simply because bitcoin has no central authority.

[walemil]

Governments all over the world don't like what they can't control  and that is the case with bitcoin because of decentralization which in turn gives room for anonymity. On the part of these governments, they see cryptocurrency as a system that will encourage money laundry and terrorism financing.

[Ace Amias]

Yes, cryptocurrency is blocked in some countries because of the decentralization as they have to make proper check and balance in decentralization it is impossible so they did not accept it if they are gonna accept it they will make it centralized to keep proper check and balance of all records transfer and the issuance of cryptocurrency.

[bratuha]

Becouse Our government is afraid that people will be able not to depend on the state

[nicolesalv]

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

It is not the all country banned bitcoin or bitcoin for them is illegal. I Think it depends on how the country look at bitcoin. But in my country bitcoin is legit and our government is supporting it and many people are into this crypto world. Its becoming popular in my country. In some countries that banned bitcoin maybe they have their own reason why they banned bitcoin maybe because they can't taxed virtual money and it can be used on money laundering as you can do a transaction without giving your identity.

[pxo1106]

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

Because bitcoin had been used for an illegal transaction which is against the commerce of man. In a simple context, it has been used to develop the best in the financial market and mark as the technological innovation to avoid double spending in the business transactions, especially in banks; but, it breaches through the negative used and as means to produce thing possible for destruction.

[3acaga]

The idea of bitcoin is very good and fair, but think for yourself ...
How can countries maintain and service their social projects if they legitimize bitcoin and the financial resources of people go to shade and will not pay taxes?
P.S. It is necessary to seek a compromise between the legalization of bitcoin as a currency and the verification of people selling bitcoin.

[Lignxxx]

I don’t know why the told this. May be they have no clear idea about bitcoin, otherwise they said this because , someone may be using bitcoin for illegal purpose. May be that’s why they said this.

[hungsanh2512]

Bitcoin (and other similar cryptocurrency) are not currency and legal means of payment in some countries. As a consequence, use of Bitcoin (and other similar cryptocurrency) as a means of payment is not recognized and protected by law, and credit institutions are not permitted to use it as a currency or medium payment upon delivery of services to customers.

[chandra12]

They will basically won't choose the proven fact that bitcoin can be utilized openly and they're afraid of the reality any person might use that coming from carrying out purchase on the web. I assume that is the downside to this regarding cryptos and also must be governed in order to avoid these kinds of against the law routines.

[muneeb.zain]

Bitcoin is the first and the on top in the market of digital currency so it mainly affect the other coins and the digital currency. Now a day every thing has a good side along where on the other side it has it's side effects so there is also a bad use of it so most of the governments declare it illegal and the bad rumors are always there about bitcoin.