Why government announce bitcoin is illegal?

[pragna]

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 government body saying its illegal. But maximum government body thinking it negatively so they saying its illegal. But i think if any government body think that he will use it in legal way for his inhabitants he may use and make rules and regulations for it. So people will be bond to use it legally. Just government have to think BTC can help us in various way.

[abiola4real]

I have not heard anything about government proclaiming bitcoin as illegal in my country. I will say it is only some country that doing. Probably such country only considered the disadvantages of bitcoin not considering the advantages part.

[abiola4real]

I have not heard anything about government proclaiming bitcoin as illegal in my country. I will say it is only some country that doing. Probably such country only considered the disadvantages of bitcoin not considering the advantages part.

[quoctien1997]

Bitcoin helps us pay for digital money. At the same time, Bitcoin also helps criminals to launder money. Therefore, the government issued a ban on Bitcoin being allowed to circulate.

[Roboabhishek]

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.

yes this is one of the main reason why governments are announcing bitcoins are illegal because they found out in some cases after investigation that illegal trading is being funded through bitcoin without any interaction of persons face to face . its the most safe way of monetary trading for hackers and other illegal stuff holders to continue their transactions without being noticed by the agencies which are working day and night to stop illegal use of bitcoin and other currencies to trade .

[eashikde]

This coin is really new and has not been studied yet. The main point why she is not willing to admit to be illegal is her control, which is impossible. In a sense, it can spoil the economic system if everyone switches to bitcoin))))

[Kadot amoh]

because the way bitcoin transactions can be used to transact in bitcoin exchange payments, one day the people will certainly recognize bitcoin as a material for work.

[Fappanu]

So the government says that bitcoin is illegal because of its misuse as well as investment schme. Pyramiding schme and many others that cause people to fall victim to and believe that bitcoin is a type of scam. So we can not blame the government here because they protect our citizens, But they should also study it well enough to know what the real bitcoin really is and how it helps us to speed up our transactions ,

[little pig]

Bitcoin is well known all over the world, being used as a tool for payment, commodity transactions. However, not all countries accept Bitcoin, even if Bitcoin is completely banned, the sale and use of it is illegal.
The central banks of these countries do not want any currency to compete with its own currency.

[dominional]

government often announces that bitcoin is not legal simply because tax connot be diductect from it and also banks as government own has been going against it because money will be taken away from bank and beign invested in cryptocurrency

[vnck25]

Not every government has done that. I believe still some governments are not aware of the extent that bitcoins and cryptocurrencies can influence banking, investing, as well as the society in general. Some governments are actually planning to commission their own cryptocurrencies knowing very well the impact that it has on society. Furthermore, along with cryptocurrencies, blockchain technology is also a huge step forward in terms of secured, much faster validation, transactions etc. So I guess some governments are still trying to understand what's the heck is this, and trying to modify their laws and regulations whereas others are issuing their own cryptocurrencies.

[android17]

So the government says that bitcoin is illegal because of its misuse as well as investment schme. Pyramiding schme and many others that cause people to fall victim to and believe that bitcoin is a type of scam. So we can not blame the government here because they protect our citizens, But they should also study it well enough to know what the real bitcoin really is and how it helps us to speed up our transactions ,

Many factors that we may considered why they announce bitcoin is illegal, for me first is they cant controll it, bitcoin second is they cant put taxes on bitcoin thats why they say its illegal and third is bitcoin is used in illegal transactions and trades, they uses bitcoin as a payment.

[Vincemanam21]

Because the government seems to have no control on it, so thet say it illegal and it will cost a bad effect on
banks.

[SWASIRI]

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

Because the governments have there own view about Bitcoin and the cryptocurrency market which is something that to disrupt the current financial system and to make things easier for criminal activities so from there perspective Bitcoin is black money with the capability to become untraceable in any transactions but few really know it is a complete lie and there is no way Bitcoin can do such a thing to the world   

[andriw]

An item can be said to be legal when there is an entity or state that issues a decision that the item exists and can be used, but if no one has acknowledged it, it can be said to be illegal.

[anhhungxadieu0402]

Bitcoin's advantage is that it helps investors make profit and pay off their investments. But it is also used by criminals to wash their dirty coins to avoid the law.

[Theizestooke]

The government thinks people can make bad use of bitcoin. They can use it for money laundering as well as for buying drugs. That's the reason government announces bitcoin is illegal.

[cxmyifan16]

I think that the only problem for the government is that btc is impossible to control. They don't like the fact that btc provides users with the confidentiality and that's why to my mind, they want to ban it

[Xising]

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

There are some, but it doesn't apply to all governments. Also, when a government proclaims that cryptocurrencies are illegal, they mostly qualify it to some activities only and not all actions that are related to it. For example, in Europe, there are some countries that deemed "mining" cryptocurrencies illegal, while at the same time, not limiting those people who are transacting or doing investment-type businesses with it. Also, the act of banning or controlling cryptocurrencies is not really purely to suppress it, sometimes, governments do that because they want to save their people from experiencing bad business that is quite rampant these days with cryptocurrency transactions. Others, like China, ban other coins in their bid to support the coins that come out of their own market.

[saumang2m]

There are some countries like this. Who have not yet adopted Bitcoin. There the government feels that using Bitcoin can lead to an increase in illegal activities in their country. For some such reasons, the government has declared Bitcoin illegal.