Why government announce bitcoin is illegal?

[Nathanclark]

Governments can ban anything within their borders. If so, you wouldn't be able to legally transact using bitcoins without some penalty if you get caught. Perhaps there are dark markets where you wouldn't be caught, but this would severely limit Bitcoin adoption within that country.

[1715036814]

1715036814

[1715036814]

1715036814

[1715036814]

1715036814

[arc67583]

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

Only few governments have understood the importance of Bitcoin which is sad news for the cryptocurrency world and the market so when potential investors who really wants to invest in Bitcoin get to know about these bad announcements and accusations they eventually get disappointed to invest which makes Bitcoin market to loose its potential investments   

[williamweber]

They can't ban bitcoin, but they can ban exchanges.
Of course, this would not eliminate the presence of bitcoin.

[brookecooper]

Governments can ban whatever they want. But can't enforce it. Any government can declare cryptocurrency illegal but it will have no effect since they cannot control it due to the decentralized nature.

[Bgbolahan]

It must be carefully observe before it can be accepted

[Zalaster]

Bitcoin is anonymity, which is very convenient for scammers. In addition, the government can not receive tax from operations with bitcoin, regulate it, which makes its position partially illegal.

[charlemagne_15]

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

Honestly, not all the government announce that bitcoin is illegal. In my country, they really don't tell in public that bitcoin is not legal. If ever some of the governments have such statements maybe they did it to warn their people for the possible negative impacts of it. Another one is to stop the unlawful transactions that might use by people who aren't acting in the right side. Also, the governments want to stop the usage because they can't control and gain in here.

[bluehive21]

I think it is a temporary situation because for anything new to the world during first implementations there are certain level of rejections that can happen and for Bitcoin it is the same scenario but after some time people will understand more about Bitcoins potential and benefits so those accusations might stop with time eventually even without an effort but if that wont happen then there will be a problem for Bitcoin   

[wizardcrypto]

The government make money from the bank through tax paying . They have not figure out how Bitcoin can be taxable.secondly they control the banking sector  but cryptocurrency such as Bitcoin and altcoin has no government of its own and it cannot be control by any body . The government are scared right now knowing that it will cripple their source of taxation if they announce Bitcoin is illegal.

[Evacarter]

They could make it illegal which would totally change the culture surrounding users, services, and developers alike.

[sarungmen]

the government cannot control bitcoin and it is worrying if there is fraud when making a transaction or investment because the government views bitcoin from its negative side which can be detrimental to the bitcoin country very easy to use as a money laundering tool

[sarungmen]

the government cannot control bitcoin and it is worrying if there is fraud when making a transaction or investment because the government views bitcoin from its negative side which can be detrimental to the bitcoin country very easy to use as a money laundering tool

[Pokemon Go]

In my opinion because bitcoin is very insecure for the country, it is because we cannot trace the owner of bitcoin so that it can be used for corruption in the country.

[dekcutbusu33]

I think because they found that some people use Bitcoin in illegal transactions, they fear that fiat currencies will no longer apply to people and as a means of payment are not recognized and not protected by law, and credit institutions are not permitted to use it as currency or payment .

[FIREBALL24]

I think because they found that some people use Bitcoin in illegal transactions, they fear that fiat currencies will no longer apply to people and as a means of payment are not recognized and not protected by law, and credit institutions are not permitted to use it as currency or payment .

This is not illegal it's just decentralized by them which they are the one who discriminate and lookdown bitcoin because they already have what they supported which is bank, only governments are having negative thoughts in crypto but most of people are likely to involve due to the opportunities. If they will banned crypto then probably there are other ways to transact because there are also some governments involve in crypto,they are also produces coins or programs.

[HiringYou]

Many governments do not allow the use of Bitcoin in their respective countries because of the decentralized nature of Bitcoin.As they are decentralized in nature so government has no control on them and the transactions made through Bitcoin can't be tracked by any government or bank.So the people involved in the transactions remain unidentified.Due to this feature of anonymous transactions, many people use Bitcoin as a mode of payment in illegal dealings such as drug dealings,ammunition dealings etc.This is the reason why many countries are declaring it as illegal.

[vainnew]

Why government announce bitcoin is illegal?, Because maybe when the government looks at bitcoins, they are incapable of tracing any person or company holding responsibility for Bitcoin not only in their jurisdiction, but in the entire world. More  reason why government announce Bitcoin is illegal that Bitcoin is a private currency that government can not regulate, track or control which will have effect on economy of the country. Moreover because the government afraid that the currency in that country will no longer apply to society and will be replaced by something new, that is Bitcoin. If that happens then the currency in that country can be worthless and unused. Therefore the government is illegalizing Bitcoin.

[Rj Manik]

This is simply not broad detail being throughout the world headline but, and it's really simply certain for anyone nations around the world which stop or perhaps failed to desire to embrace bitcoin. Their particular very good purpose has been as a result of decentralizing physique regarding bitcoin which usually cannot be governed from the authorities method which usually they may be frightened regarding.

[infested999]

Governments are not crypto fans because they hate it when they can not track something. Soon they will have to deal with it and to let it happen

[taivan11]

Bitcoin can not be identified by the transaction or who is doing it. This could be a reason for bitcoin ban.