Why government announce bitcoin is illegal?

[Mhd-Bobbi]

why the government declares bitcoin is illegal because they do not charge bitcoin taxes. it is also the right time bitcoin will be legal in all countries

No, Bitcoin does not have a legal entity, so that each country basically does not use bitcoin as a payment instrument, but each country uses a genuine currency determined by each country based on legal entities in the country, Bitcoin is not included in the category of legal entities in some country.

[thepers0n]

Some people think that BTC is used by  terrorists so they restrict it. Moreover it can take the huge part of the state's banking system so government will lose money. Nobody wants to do it

[taeewo]

Government is making the bitcoin illegal because they understand the concept and the risk involved and also the threat to its citizens because of the anonymous transactions it was created for.

[nyn8920]

It's known fact that  private currency that Govt can not regulate,track or control which will have effect on economy of the country
When there is no accountability or tracking of transactions,it will create a black market economy and short fall in taxes and increase in crime and instability.I don't believe any government want to loose the control over economy !!

[dificanovi]

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 countries that announce bitcoin are illegal, there are some countries that are very supportive of bitcoin. a country that calls bitcoin illegal is a country that will lag behind its economy compared to countries that accept bitcoin as payment.

[guter98767]

I wonder if this is the first time in history of bitcoin that the price has fallen faster in a year or two? But I agree, we should not panic about cryptocurrency's current market status. If it happened before it does not mean that the price will not rise again.

[Gonzaleti]

I think, in time, bitcoin will lose its anonymity, otherwise it will not be approved by the governments. The fact is that anonymity gives advantages to criminals who can finance activities while remaining anonymous.

The government sees bitcoin as a lot of weaknesses that will be misused by criminals. The most feared is an anonymous transaction. For this reason, bitcoin cannot be accepted as a payment instrument in some countries. I do not know, whether someday bitcoin has a lot of development and can be accepted in many countries. As a technology, bitcoin will definitely develop for the future.

[DisWhale]

Governments claim that Bitcoin is used for illegal activities like terrorism funding, drug trafficking, money laundering etc because it is not regulated. Also, they claim Bitcoin does not offer security, hence it should be stated clearly by the exchanges that Bitcoin investment is at done at the risk of the investor.

[Pamadar]

It's illegal for some countries because their government sees cryptocurrencies as a threat for their currency and they also thought it provokes people to do crimes and illegal transactions.

That perceptions really affect the legality of bitcoin from certain countries, thinking that this new system can be a threat with the government as people inside specific country will be able to deal directly without imposing any taxes, worse can also be done money laundering and government rules wont
affect the direct trade that happening between wallets to wallets, there's a lots of things that government still foreseeing that's why they won't allow
or legalize bitcoin and other crypto currencies.

[satria2]

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 countries that announce bitcoin are illegal, there are some countries that are very supportive of bitcoin. a country that calls bitcoin illegal is a country that will lag behind its economy compared to countries that accept bitcoin as payment.

This isn't disputed by technology because every government thinks something bad will happen in their country if Bitcoin starts to be known and used. They only anticipate bad things.

[taeewo]

I don't think any government has officially announced that bitcoin is illegal, they are just trying to weigh the risk behind it its officially approved and legalized without proper regulations.

[Coongcoongler]

Nowadays many investment fraudsters are using Bitcoin as an attraction... Just be patient, the next few years cryptocurrencies will master the way humans transact and surely the government will not make Bitcoin illegal...

[Beowulfcadmus]

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 government can't get taxes from bitcoin. It is possible that a lot of people have joined the bitcoin scam trading platform. But you still believe in bitcoin?

[Roberttran]

It is simply that the government will not accept anything when they can not control it. And bitcoin is something that they can not control. If they accept bitcoin is legal and can not control it. their economy will be at a disadvantage. Since they can not levy taxes from bitcoin, banks will no longer operate if bitcoin is allowed to flow.

[lee cooper]

What I know is that the government still wants to review and study bitcoin and does not say that bitcoin is illegal.
Currently, many countries have received bitcoin well, and this is a positive thing for the progress of their society.
Gradually, the government will be able to understand bitcoin and later it will be one of the subjects that can be learned well and certainly with good intentions.

[Janation]

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 government can't get taxes from bitcoin. It is possible that a lot of people have joined the bitcoin scam trading platform. But you still believe in bitcoin?

I don't think that it would be a choice for the government and I don't think that this is the reason why the government banned Bitcoin in their countries since we can't say that it is really illegal right?

Bitcoin is a decentralized cryptocurrency that means no one is controlling the price. It is anonymous so we need to be very careful on the transactions that we do using Bitcoin. And I guess saying that, governments do not want to risk their citizens on being scammed or using Bitcoin into a criminal act so they ban them. We can't that it is because of tax because they can still regulate it will tax on it.

[mcabrito]

It is simply that the government will not accept anything when they can not control it. And bitcoin is something that they can not control. If they accept bitcoin is legal and can not control it. their economy will be at a disadvantage. Since they can not levy taxes from bitcoin, banks will no longer operate if bitcoin is allowed to flow.

You have a point, this is the main reason why government don't legalized the use of bitcoin because it's a great threat to their economy. but let's just hope not all countries will ban it

[Kokondao]

I think that is because the government is very afraid of bitcoin replacing their national currency, and the government is also afraid of bitcoin being used for currency laundering and terrorist funds.

[yuanchain]

I think bitcoin shall be considered as certain merchandise. Becuase the blockchain system can be void of government's monitoring, they feel danger and going to ban it.

[surfer43]

Because there are a lot of illegal activities carried on with the help of bitcoins and it causes disturbance all over which also makes the government look at them as illegal.