Why government announce bitcoin is illegal?

[BertoloyBTC]

Government will announce bitcoin is illegal ,because the cryptocurrency is not yet registered in the office of the government and not accepted as legit cryptocurrency in the country, so goverent charge it as illegal business.

[Qwerts]

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 because the government is afraid of something they do not have control with. They cannot regulate cryptos yet and when they do, cryptos will never be the same again. Bitcoin is decentralized meaning it does not pass through central banks worldwide making transactions hidden and untracked. Most people took this advantage and is continuously doing illegal things that makes crypto's reputation bad due to this. The government is constantly looking for ways to have benefits when it is regulated worldwide.

[ParveZ219]

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

Government is announcing Bitcoin is illegal as many works like guns smuggling drug peddling, the transactions for these orders are done using Bitcoins only because Bitcoins can't be easily traced.. so government is banning Bitcoins in many countries

[ClemenTeron]

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

This shows how foolish some governments are because they have no idea what kind of great things Bitcoin can do to help there citizens to expand there businesses by increasing effectiveness and efficiency during transactions that are done in global scale  and I am not surprise politicians do such things without due to low understanding about digital currencies because even some good business individuals are talking against Bitcoin but anyone who saw the bright side and potential qualities have definitely invest so this is the first technological invention in the world to face such problems and still continuing strongly in its path

[SIDDHI777]

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

Governments were against Bitcoin and cryptocurrencies from the beginning mainly because its decentralized nature and now no matter how potential Bitcoin is seems they only point and show the bad side of it which is a great thread to the future of Bitcoin and its progress and due to that many investors who are new to the industry afraid to invest in Bitcoin and holders who posses a certain amount are trying to leave by selling them which is a bad situation   

[Oleg345678]

This is because governments have not yet found a way to control revenue from the crypto currency and how to tax it all. I'm sure that as soon as this method is found, the governments will begin to say that the crypto currency is legal, it's very good. For people to deal with crypto currency and pay taxes.

[Wonderced]

because we know bitcoin as a scam and for that stealing money in our government maybe as some of people will not know doing bitcoin as banking and financial, people think bitcoin as illegal.

[Asantewaa2000]

It's just simple Bitcoin is giving traditional currency tough time and also governments have found out that there is a massive switch to BTC and are trying to see if they could halt that, therefore they are trying as much as possible to see if the could regulate the system.

[Skydreamer19]

governments do such things and there are no solid reasons they have given to the world for baning and making certain restrictions against Bitcoin to use as a digital currency.

[Tinker18]

 I dont know why governments do such things and there are no solid reasons they have given to the world for baning.

[Rustandy]

The reason for prohibiting is in the framework of implementing the precautionary principle, maintaining business competition, risk control, and consumer protection. The hedging is to prevent crimes, such as money laundering, terrorism financing, and safeguarding the sovereignty of state money as a legal payment instrument in a country.

[lehuong]

Some governments do not accept bitcoin as they think biccoin is illegal because they think bitcoin will make them lose control and they are afraid that bitcoin is bubbling.

[nehemiah31]

Perhaps, it is because bitcoin is decentralized and they don't have control over it.They think bitcoin is illegal because they want people to still onvest in their financial institution.

[burky156]

No you are wrong.. Not all the countries says the bitcoin illegal, some of them says it. Think about it first.. If all the goverments says that how can the bitcoin and cryptocurrency markets can stay open?? There are some bad ways that you can use bitcoin yes but in near future it will end.. Goverments searching the way for having taxes for cryptos so it is not illegal!

[john_nautica]

the only thing that gives illegal bitcoin announcements is just a few countries that according to the country bitcoin can provide a threat, so I think bitcoin today cannot be said to be illegal in all countries if they still trust bitcoin and know the use of bitcoin.

[darko.bountym]

Governments can say anything about bitcoin. they don't have control over it and the easiest way is to say that bitcoin is illegal.

[Lomberjack]

Maybe because people get money super fast and super easy. Some countries says that bitcoin is illegal and that is maybe because their government didn't approved yet that bitcoin is helping people to have an extra income.

[CoinEraser]

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 country I live in hasn't made that announcement. Bitcoin is not and will not become illegal here. It is regarded as a commodity like gold or silver and even from a tax point of view everything is regulated. So there is no reason why the government in this country should do something like this, and I'm very happy about that. It's just a pity for countries that want to implement such a ban on Bitcoin. They then miss connection to a new technology like Bitcoin.  

[thenameisjay]

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 the reason why the government dubs bitcoins illegal is because it disrupts the whole economic system of a country. It's invasive because it is unregulated and therefore will be troublesome for some economist. It's already hard to control let alone be managed by anyone.

[gesdan]

there many factor that makes government announce bitcoin is illegal, the big factor if because of the regulation, there are no regulation in the bitcoin so the government can't watch the transaction and the owner of the adress