Why government announce bitcoin is illegal?

[trungquoc4622342]

I think that because bitcoin's influence on the world today is big enough for governments to bite bitcoin is legal.

[Brangos99]

Cryptocurrency is considered to have negative consequences and high risk for traders. Like, crypto market volatility, potential fraud, anonymity, and the existence of contracts that have no legal or fictitious power, cryptocurrency trading is outside the scope of government oversight and is also well known for use in prohibited activities, for this reason the government announced illegal bitcoin.

[gurang]

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 agree we also known that bitcoin is the one can help us or who still helping us in what situation, maybe they think its illegal because they dont know what is the good in this kind of job

[Marlo0619]

I think because it has no tax or other charges that the government get from it. Every job in a certain country, and every person's income is reduced because goverment deducts a little amount in it. In bitcoin, they cant do that because it is not their property so they illegalize bitcoin and I think other cryptocurrencies too.

[charles28]

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

Main reason behind is that many people are using it for many illegal works and also banks in different countries don't have control over cryptocurrency

[Kuchiyose]

Some countries will think the adverse effects will be even higher with the existence of Bitcoin and illegal transactions that will be increasingly high in the virtual world.

[davhek]

Simply because they can't control it like they control physical assets and money...

[ahiaba.john@yahoo.com]

The existence of bitcoin is treat to poverty and most of our government do not want anything that will made people in their respective richer than them. Government of a nation want to remain relevant and bitcoin is a non centralized currency and therefore no government have power over it.

[BigBlackSheep57]

The purpose of make it illegal is government don't get what they want from bitcoin and crypto currency and thats why by announcing it illegal government want to prevent the users from using it.

[Lan Bell]

I think general people have got misconceptions more than the actual value of BTC. And various governments banned it. But good news is now many countries are realizing the value of it and started working with it

[Joeyvicky]

The start of every good thing has its own challenges and as we witness in time past most govenment never liked the idea of bitcoin but with time most country made it legal and still illegal in some countries. Am sure by  reason of some uncleared doubt about bitcoin for such government if a thorough true indepth of what bitcoin continues to trend accros the globe most government will buy into this brilliant and life changing machine of bitcoin to better the life of their nations.

[Mugugad]

with bitcoin there will be no way for fraud and this compare to normal currency they have access to all time

[haydrop]

a lot of government that are yet to approve cryptocurrency will definitely accept it with time. Bitcoin is fast gaining ground worldwide

[winstonchurchillwar]

I myself am a man of the Republic of Belarus and we have the President made it clear that a good attitude to bitcoin ! He legalized it and decided not to take tax for the use of cryptocurrency ! Moreover, even if it is banned it does not mean that you can not use it because the blockchain technology allows you to use it anonymously !

[segogoreng89]

Because bitcoin uses peer to peer technology, without central authority. The transaction and verification process is carried out by the network without the supervision of the institution. So as to facilitate crime, such as buying and selling something forbidden (illegal goods). Because of this the government banned bitcoin

[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 many illegal works are done using bitcoins only...so government is thinking that bitcoin is illegal...they are not thinking that if those transactions are done using normal currency then it will also become illegal..So later on government will unban bitcoins because bitcoin is just a currency.

[cerahb01]

In my opinion, not all countries consider bitcoin to be illegal, but many also consider that bitcoin is legal. This is because bitcoin Virtual currency is without a regulator so there is no legal certainty and security certainty. As well as, the potential for use in criminal acts of money laundering and terrorism financing.

[Anam313]

I think not every where bitcoin is legal in some countries and if some governments ban this currency then after some time they will realize that bitcoin is important to present days and it is legal in most of the countries.

[GizmoCoinTEAM]

Yeah, there is no doubt, Bitcoin is one of the powerful and top coins in the marketplace. In my opinion, the government announced bitcoin is illegal because many people used bitcoin in illegal transactions. They found out in some cases after an investigation that illegal trading is being funded through bitcoin without any interaction of persons face to face.

[Radio-Active]

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 was nothing in particular, it is just a regulations of cryptocurrency in their country. If they didn't say it is illegal, then they wouldn't ban it.
They only see bitcoin is used to bad activities. However, i am sure btc will be accepted by all countries if we keep using it for buying or paying something.