Why government announce bitcoin is illegal?

[Shafiqul Islam]

They consider it illegal because they think bitcoin will occur international, national smuggling, crime and other illegal activities.

[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

It is because some illegal transactions like drug peddling gun smuggling are done using cryptocurrencies only so the government is announcing cryptocurrency is illegal.In fact bitcoin is just a currency and nothing else

[cjinny]

Not all governments consider bitcoin illegal, even now there are several countries such as the USA, Japan, Denmark and Russia which regulate bitcoin regulation and legalize it. Some other countries that prohibit bitcoin must have their own reasons, such as maintaining the stability of their official currency, worrying if bitcoin is misused.

[patispace]

It's not true, BTC isn't illegal all over the world. Some countries try to have crypto under control because they want to protect their economy, and it's no wonder to me. Sure, it's the easiest way though.

You are right, because I like to be well informed of what is going on in the crypto-universe and I have also noticed that: there seems to be a growing enthusiasm around the world to adopt the regulations and measures to take advantage of cryptocurrencies to improve the economic and financial processes of today's world.

And this has been reflected in new regulations that allow for greater flexibility of many progressive governments to facilitate the use and adoption of this technology, although it seems that we are still far from reaching an international consensus in the field of regularization of cryptocurrencies.

[Tomborneque_1102]

I think the main reason is the reality that they can't control the cryptocurrency. For the Government, it is surely a threat if they don't have any access. It may be a potential threat to a Country, making illegal businesses or transactions using Bitcoin. that's why they don't acknowledge Bitcoin as legal. this is just my opinion.

[globalpain]

bitcoin will continue to move even though there are still many countries that still declare illegal, I'm sure someday bitcoin will be accepted in all countries on the grounds that bitcoin is a technological advance in the future

yes it is true that there are still many countries that consider bitcoin illegal, maybe a country that bans bitcoin is due to worry if it is used for illegal transactions that violate the law such as terrorist financing, transactions of prohibited goods, or money laundering, but I believe that bitcoin will continue to grow and someday all countries will legalize it

[cryptolandlords]

I do not expect anything good from government. bitcoin is like an eye opener to the general public concerning hidden secret on how  money suppose to work. There will be a time they will have no alternative order than joining us.

[Walero]

If government announce bitcoin as illegal the use of bitcoin or other form of cryptocurrency, it will still continue to be existing and trading because bitcoin is decentralized in nature and not easy to control by any body. This will give bitcoin vulnerability.

[yhan2x]

Even the government said that the bitcoin and other crypto are illegal. But the market still open for traders, they cant control or no one cant control the body of cryptocurrency because it is decentralized in source of peoole.

[dinapawitra]

I don't know why the government still considers bitcoin illegal... Because in my opinion, bitcoin has been able to become a payment instrument... Maybe because many ordinary people don't understand bitcoin... It would be better if the government legalized bitcoin... Because if the government legalized bitcoin, people are easier to make payments and make other transactions.

[Layers318]

The reason given by the governments pertaining to the ban of Bitcoin in some countries is that Bitcoin is anonymous and not regulated. With this, it is involved in a lot of illegal activities such as terrorism funding, drug trafficking, money laundering etc. But the question, was drug ttrafficking and terrorism funding not in existence even before the creation of Bitcoin in 2009?
The governments are only afraid that Bitcoin gives more power to the people as they get to control their own financial transactions.

[Lazada]

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 main reason for the government in banning bitcoin is because Bitcoin has a threat to the economy in its country. What we know is that the price of Bitcoin is always changing all the time and it could disturb the economic situation, it is actually right because price fluctuations can make various situations chaotic and uncontrollable.

[ansarose1]

I think that the government says bitcoin is illegal because bitcoin is elligible for illegal use and transactions of the syndicate people and bitcoin can also probably used as money laundering for some people. That is why government says bitcoin can be use an to illegal things.

[adjong]

for me banned the government bitcoin elsewhere because it's in their mind that they do not pay taxes, but here in the US is not banned by bitcoin because it is a great help to our countrymen especially in those who are poor and unable to work. Because we pay taxes when we withdraw money from the bank

[KenChanYu]

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 main reason for the government in banning bitcoin is because Bitcoin has a threat to the economy in its country. What we know is that the price of Bitcoin is always changing all the time and it could disturb the economic situation, it is actually right because price fluctuations can make various situations chaotic and uncontrollable.

We all know that bitcoin price is always a volatile movement and fluctuating during the change of buy and demand activity of traders. There were selected government systems that doesn't accept bitcoin as form of legal payments, because of those mentioned reason. But I don't think that's a fair idea to ban bitcoin, due to convenient ways thar people right now were going to adopt it easily for it provided us the fastest transactions via online services. It won't disturb the economy as long as the circulation between fiat and digital money will be transparent.

[bajingluncat]

In which country do you live? I have not heard any statement from the government that the btc is illegal, if it is true, the news already exists, in my country the government seems indifferent and turns a blind eye to the existence of btc, that is what I know, indeed many people comment that btc is illegal it might be due to the impact there are those who use it for something illegal, but so far the government has not given a signal to make it legal, I'm still safe

[befriendmywater]

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 because Bitcoin is an anonymous business and we do not know anything about it. It's a billion dollar business but we have no information about it and the government does not know it. So the government needs to make illegal declarations to help people avoid being cheated.

[ljane]

Those governments that frown at btc, it wont be a news to me if they have huge amounts of cryptocurrencies else where. All they know is that BTC is going to be one of the best currencies to overtake the fiat currencies and that they have to put a stop to it.

[martinholly167]

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.

and also because the government can't take taxes in this coins transaction so they can't take profit or something good from it

[JuliusJosh]

There are reasons as to why government deemed it illegal, or, let us not say all governments because we have some that have come to embraced it and are thus using it as a tool to make something out of their battered economy. To such governments who are in the minority, Bitcoin is not illegal, but to governments who I think have a booming economy and have no reasons to use Bitcoin has a tool for economic recovery, Bitcoin is. And they have reached that conclusion largely to the volatile nature of Bitcoin which could make money laundering easier and wouldn't be traced.  One can not neglect the threat posed by these terrorist organization, with Bitcoin and its payment methods, you can't really trace how these lads are funded. And I think governments want to stop this money flow.