Why government announce bitcoin is illegal?

[chickenado]

This is not a general information to be worldwide announcement yet, and it's only specific for those countries who prevent or didn't want to adopt bitcoin. Their very strong reason was due to decentralize body of bitcoin which cannot be controlled by the government system which they're afraid of.

[karisiak123]

because there is no regulation about bitcoin .. most people abuse for crime and illegal donations ..
while the government does not block bitcoin is very profitable for us.

[Nurul_]

most likely because the government does not receive taxes from the digital world of bitcoin bro. because all businesses or businesses must have an entry permit and tax every year. therefore the government still has not received bitcoin legally

[indriyanti]

something that makes the government and each country rather desperate for those who are governed. Therefore their concerns and efforts to ban bitcoin in any way. They simply do not believe that bitcoin can be used freely and they are afraid of the fact that anyone can use it from conducting online transactions of such illegal activities

[ShowOff]

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 ok that government make it illegal, but it wouldn't stop bitcoin user to hold it and use it. Maybe bitcoin as payment will get problem, but as payment bitcoin already have main problem in transaction fees and confirmation time.

[Helen1122]

countries which states that bitcoin is illegal is a country that has laws that require its citizen to use domestic money in the economy, so that in addition to the country's domestic currency will be said to be illegal

[Ridwan Fauzi]

This is news is partially correct. Every govt is not.Europian and American govt. makes it legal and acceptable.There are many reason for making it illegal. Many people Use bitcoin in illegal transaction.But after all pf that, i believe that, bitcoin is very usefull.

In the beginning cryptocurrency will be ignored by most people who consider changing online transaction systems. Let's look at the development of the internet at the beginning, most people think the internet is something that will be used as a negative tool, before the internet they searched for a source of information from a book, so many thought 'the book is the window of knowledge' but after the internet was present everyone uses the internet more to find easier sources of information. So, for now we can see the existence of cryptocurrency like the internet at the beginning was used, they ignore and regard it as a negative place but today everyone relies heavily on the internet. I have the opinion that cryptocurrency will be needed by many people in the future.

[teklang01]

The legality of bitcoin depends on the country, some countries are very open minded and welcome change in payment system recognizing bitcoin as legit digital currency while other countries banned it and declared it illegal. They have their own reason why they banned it perhaps they didn't believe in it and it just another scam.

[CrazyBTC7800]

It is so unfair with bitcoin. May be the government does not know much about bitcoin. But we can not say anything about this. They will investigate about this. May be very bad happened by some users for bitcoin. That’s why the government did this.

[Cool1]

According to the Governor of Bank Indonesia Agus Martowardojo mentioned several reasons for prohibiting the implementation of the precautionary principle, maintaining business competition, controlling risks, and protecting consumers and preventing crime, such as money laundering, terrorism financing etc. quoted https://www.google. com / amp / s / www.bbc.com / indonesia / amp / indonesia-42265038

[BagzMM]

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, maybe it is because it is being used for illegal transactions like money laundering. Theirs no regulations by any government and they cannot impost taxation from bitcoin.

[truongdhnh]

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 the government is publishing illegal bitcoin because bitcoin grows too fast and its propagation speed is exponentially increasing. So excessive crowding and government scrutiny of the domestic currency that the central bank is losing and with the development of Bitcoin, many organizations use Bitcoin to deceive the public damage and security.

[GoldenShark]

What is the actual reason behind it? Does anyone know? I’m so much excited about this. Why the government did this? Is there anything happened bad? Bitcoin is a good thing and it helps a lot to us.

[deppil]

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 Governments officials think and claim corruptions and criminal activities could increase with Bitcoin use and that is a major issue many countries face at the moment and even these criminal activities using Bitcoin are not done in large scale by criminals up to certain level Bitcoin is used to support such criminal activities 

Yeah they say that even though they don't have any evidence to support their rules. I myself haven't heard the news that there are individuals who commit corruption and money laundering by using the help of bitcoin. one of the reasons why the government bans is because they do not benefit from the existence of bitcoin

[BTCHeadstone]

This is not true that all countries have banned Bitcoin. But most of the countries do not allow Bitcoin and many countries have banned BTC. I think the reason behind is the several misconceptions about BTC

[Nahl]

I can't find correct informations regarding this statement but indeed for some countries bitcoin can recognized as illegal but i think not all countries announce just like that and the cause why governments decide it because plenty of factors and one of them is the volatility which can make people lost their money but i think some of us still can use bitcoin regularly because their government open their mind for bitcoin

[belimblink]

I think that's because the government doesn't really understand bitcoin. Furthermore, the government feels that bitcoin can encourage illegal transactions, money laundering, and etc. Therefore the government announced that Bitcoin is illegal.

[Stumbleupon]

Majority of the people who have heard about BTC think that it is used for illegal works. They are partially right because most of dark web’s activities based on BTC or ETH. But the sad thing is they don’t know real and useful use of BTC

[Mariahenry86]

The benefits of Bitcoin are related to the interests of the government. The government feels disadvantageous for the above reasons. Some countries prohibit Bitcoin from operating to prevent the development of the cryptocurrency market.

[PickwickRock]

I think general people have got misconceptions more than the actual value of BTC. And various governments banned it. But good news is now many countries are realizing the value of it and started working with it