Why government announce bitcoin is illegal?

[SonyZ3+]

don't assume all international locations supply outlawed press releases, even as we recognize, bitcoin is not manipulated by simply fiscal insurance plan, in fact it is quite unsafe whenever they rub it by law, the good thing you can do should be to reverence the idea as being an asset tool, they must preserve mastering along with create solid plans for each and every community crypto exchanger.

[poldanmig]

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

many reasons that make the country not legalize the cryptocurrency in that country and all the reasons are negative and bad things, in my opinion the good and bad cryptocurrency depends on the intention and purpose of the investors

[EmJay]

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 banned bitcoin or bitcoin is illegal. Some countries including my country is supporting bitcoin and it is legit. Maybe those countries who banned bitcoin or don't legalize bitcoin have also their reasons they think theu should ban bitcoin but in my country bitcoin is getting popular and it helps a lot of people.

[Linhkej]

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

Maybe your government does not control the illegal activities that happen with Bitcoin so they have to declare it illegal so the situation does not continue to escalate. Money laundering or human trafficking with Bitcoin has been recently detected. Bitcoin only performs well in trading and personal information security. The problem is that people use it.

[mfyilmaz]

The governments dont want you to use bitcoin as they cant controll it... for example if you have a bank account they can freeze it and stop you from recieving and sending money with bitcoin you cant do this as bitcoin is decentralized and nobody has controll over it. This gives people unlimited possibilities to launder money and do other things which are illegal BUT on the other hand is gives you the maximum controll of your wealth and this is not something the governments want for you...

[Compiler]

The government tries to prohibit everything that is not within its reach or under its control, as is obvious. They say that Bitcoin is illegal because it is decentralized and above all anonymous, they are afraid because of what I said before, they can not control it.

[Ridersss]

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

Maybe because the government is afraid that their currency will be displaced by bitcoin and make their money weaken. Yes, even though their currencies still survive, their exchange rates are not strong. maybe that is what makes the government ban bitcoin.

[Sandijoee]

Because the government does not like bitcoin and the government cannot control bitcoin which cannot be regulated. So the government is like that.

[RolandoBTC]

In our country lots of bad news hearing about the controversy made by scammers who wants to earned using the namevof bitcoins, thats why the image of bitcoin was so affected because lots of rumors negatively was thrown that is why our government declaring that this is illegal..

[Mhd-Bobbi]

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

Maybe because many people used bitcoin in illegal transactions that is why they think its illegal. Well if that is their opinions and thoughts about bitcoin , we cant blame them. But we believed that bitcoin is very helpful to us.

this is a strong reason that bitcoin is declared illegal because many criminal criminals are using bitcoin as their transaction currency and also bitcoin is decentralized, making it difficult for the police of every country to track crime transactions

In some countries there are governments that legalize the use of Bitcoin, there are also some countries that do not legalize the use of Bitcoin, because countries that do not legalize Bitcoin already have a legal umbrella, which already has a law, I do not think because of many criminal crimes, causing they are difficult for police from every country to track crime transactions!

But if I judge, Bitcoin is a source of life for those who understand the use of Bitcoin, because the impact can help people in trouble.

[Rustandy]

The government warns that people do not trade or buy bitcoin, because there is no regulatory body that supervises bitcoin, so it is vulnerable to pose risks to the community. Bitcoin is near the possibility of being a money laundering instrument, therefore we warn the public not to trade, buy sell bitcoin.

[Razib]

Ror me it is because some drug lords use Btc as a way of having illegal transactions that can't be located by the government.due to this, many government sees Btc illegal because they are controlled by them and does not have a proper legalizing process of legalizing a fiat or local money.

[mr3dds]

Well, Bitcoin is not perfect. It has Pros and Cons. But, I think it gives a lot of options and opens a new world. It shouldn't be illegal, but governments have another opinion. That's the usual of governments

[Runbitup]

This is because they are scared of it. They are wondering how it came into lime light and since they don't know the identity of the founder and they can't control it, they are frustrated and then to call it illegal. But be told they like the bitcoin.

in the end bitcoin will be legalized like gold, the proportion of creators is in the tax strength of bitcoin users in their country, but it is complicated if bitcoin still applies as a currency connected to fiat, there must be a strong guarantor to be able to align with the currency

but I am sure there will be a solution for this because in general bitcoin is very potential for alternative alternatives to the future financial system.

[chrisnewsome]

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 think that the government has critical reasons for making Bitcoin illegal. The most important reason why Bitcoin is illegal is that it destabilize the structure of the government, internally and externally. The government have its own form of currency to stabilize the flow of economy through the country and also to the world economy. When Bitcoin was introduced in 2009, it become a trend, rapidly reached the exact value of today's currency, even surpassing it. The government gives services and institutions to its citizens by collecting taxes from them. Once Bitcoin overcome the current currency, it will lower the value of taxes that the government collected. It will lead to disruption in the flow of economy, leading to major problems.

[Shresherya]

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.

[Dudeperfect]

As we all know that, governments are greedy for the power and control. They want to control each and everything under the regime but Bitcoin and blockchain technology is something based on the fundamental principle of decentralization that takes away the power from centralised authorities and passes it to the users. That is a more democratic way of dealing with most of the things and since the interest of government is getting affected, the government is declaring it illegal.

[Faysal Mahmud]

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

Well; all of the countries are not announced BTC as illegal. There have so many BTC friendly countries like Canada, Australia, Japan etc. Actually, Crypto Currency is a new industry, it will take little bit times to understand the real value. Few countries are scared because BTC can transfer anywhere, anytime & any amount so, the governments are hypothesis that, if BTC and others crypto’s used for the illegal goods (drugs/weapons) buying and selling process.
But, the good news is, day by day the usability of Crypto currencies have been increasing in all over the world.

[people12345]

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

First of all, base on my observation not all country are not yet  announced that the bitcoin is illegal. there are some country that are not prioritize or make as a big deal to the said digital money which is bitcoin in other words government did not care about bitcoin because they confidently that there is no nothing worried about bitcoin, some official government knew that bitcoin could give a problem if they give a care about to.

But generally, i think  the main reason why most of the country did not legalized bitcoin because there are some netizens that used bitcoin in not appropriate way or they used a transaction that is unusual in the world of cryptocurrency.

[Vladislav2306]

There are lot of topics on this forum, that will give you answer on this question. In short it because of decentralization of BTC. Governments can't take taxes if do not know your wallet address. Also you can buy illegal things for BTC, and they don't like this too.