Why government announce bitcoin is illegal?

[Crungcrungtin]

other countries didn't not announce that bitcoin is illegal... there's some countries that they ban the bitcoin because there is no tax for that..
and they didn't monitor yet..

[Sukunan-]

why did the government announce illegal bitcoin was caused because there were no laws and regulations then this is why it is still said illegal ..

[rindayle]

Many governments are concerned that the currency is out of control. There are several points on which governments do not work with bitcoin-this is some kind of pressure on the economy, the lack of taxes and lack of control.

[LigwagGanern]

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 announced that bitcoin is illegal because they are against to bitcoin and crypto currency. Government don't want their people use bitcoin and/or crypto currency because they know that digital currency is tax free. And that tax is what they need to have fund for their projects and activities for their City.

[enwi]

there are some countries that have stated that bitcoin is illegal and bitcoin cannot be a currency in the country, the government prohibits the use of bitcoin as a currency because they fear bitcoin will be used for crime

[franklin hoses]

This is not a general information to be worldwide announcement yet, and it's only specific for those countries who prevent or didn't want to adopt bitcoin. Their very strong reason was due to decentralize body of bitcoin which cannot be controlled by the government system which they're afraid of.

[cryptocurrencyguru]

some underdeveloping country feel bitcoin is illegal because they think bitcoin is used for money laundering and other issues but in reality, it is really meant for technology upgrading of blockchain in terms of open source platform sooner or later those government will understand

[dvmd lionel]

Virtual currency is digital money issued in addition to monetary authority obtained by mining. Among others are Bitcoin, BlackCoin, Dash, Degecoin, Litecoin, Namecoin, Nxt, Peercoin, Primecoin, Ripple, and Ven. To prevent crime, such as money laundering, terrorism funding, and maintaining sovereignty.

[Lauriel lyh]

Different because the government believes in cryptocurrency and also the minds of people in bitcoin so it is not legal in other countries.Bitcoin is also legit in most countries most of which are acceptable for bitcoin here.

[arief.sutono]

I think that's because there are some people who use bitcoin as a way to make illegal transactions that cannot be found by the government. Because of this, many governments see bitcoin as illegal because they are controlled by them and do not have the right legalization process. legalize local money or money. Thanks

[DimensionsOfHell]

Each state of the crypto currency is not profitable activity, the money of people who are engaged in this go to other countries, thereby the state loses a lot.

[Dadaro]

bitcoin is not illegal. it's just their way of preventing the mass adoption of bitcoin because it is a direct threat to them and to bakers. bitcoin may be used in illegal activities for payment method but so does the fiat currency and it is not considered as illegal.

[Mudah_rezeki]

I think the government is wrong in predicting illegal bitcoin. Because bitcoin is a digital currency. For me bitcoin is not wrong. Kiss people mistakenly use bitcoin.

[vendy86]

First you need to clarify which goverment you mean. Because some country already accept and legalize bitcoin as payment or investment. But i know there still so many country that not legalize or even ban bitcoin. Most of them do that because they wanna protect their citizen. They think Bitcoin is very high risk invesment, and i cant blame them for that.

[bitcoin31]

Not all country are against to bitcoin or announce it's illegal. Because they have other country who are supporting bitcoin.
Bitcoin yes is use to illegal transaction and scamming but it's not bitcoin they use only bitcoin and bitcoin is legit. I hope before they release some news or anything against bitcoin they need to know the other side.

[jiandong]

There are a number of points where the government does not work with bitcoin. this is a kind of pressure on the economy, lack of taxes and lack of control.
 the government is worried that its currency is out of control and can damage the existing order.

[Lilianaa]

bitcoin as a way of having illegal transactions that can't be located by the government,,,many government sees bitcoin illegal because they are controlled by them and does not have a proper legalizing process of legalizing a fiat or local money....

[Lansang143]

Government announced Bitcoin is illegal because they can control it.More people they use for illegal activities like money laundering and etc.But there's some countries accept Bitcoin.

[Antu3032]

I think in most Asian countries it is illegal against bitcoin. In simple words it is a private currency that Govt can not regulate,track or control which will have effect on economy of the country. increase in crime and instability. But we believed that bitcoin is very helpful to us.

[nayeel]

Different government have different agenda with bitcoin in the world.I think the main reason behind government declare bitcoin is illegal is its decentralised nature which directly affect their country economy by affecting their country own currency. However, the popularity is very high that a lot of people use it for various purpose like a real money and for generating income.