Why government announce bitcoin is illegal?

[balamuda]

Of course the government announces that bitcoin is illegal because the government considers bitcoin to be bad for fiat, bitcoin is so anonymous that the government can't apply taxes on bitcoin.

[NorihiroName]

Many governments have specific position towards BTC and we should understand the reasons, crypto is still too volatile and laws about it are not worked deeply enough yet as well.

[Bennix]

The government does not want anything that will interfere with its national currency,and also the decentralization of bitcoin is one of the reasons why government says bitcoin is illegal.
According to reports,there is no clear evidence showing the founder behind bitcoin physically ,and government is not comfortable about it.
Government thinks fraudulent activities can't be traced,but if it is in centralized system,they can use bank verification number attached to someone account to trace fraud even if the person has different account numbers.

[arienna23]

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 not true that all countries announced that Bitcoin is illegal. Only few country makes Bitcoin as illegal. Even the top most powerful country in the world didn't get make it as illegal. It all depends on how you use it.

[CelesChere]

Only a few governments in developing countries have enacted a ban on Bitcoin. For those countries, Bitcoin is just a tool for people to keep doing wrong things.

[Blackhammer321]

I think it is because some drug lords use bitcoin as a way of having illegal transactions that can't be located by the government.due to this, 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.

I also agree with this. The government only see the negative part of bitcoin. They believe what they wanted to believe that is why they only see the instability of bitcoin as a market for investment. But then the government packs on realizing what the bitcoin can perform.

[Ursuladaughter]

From activities such as arms trade, arms race and money laundering. Bitcoin is really in the sights of the government. The government's ban on Bitcoin may also be a warning to people who are thinking badly about using Bitcoin.

[raking]

There are too many reasons for them to do this. It facilitates illegal activities such as bribery, drug buying, money laundering and many other behaviors. In addition, Bitcoin helps users anonymously, so they do not need to pay taxes. In addition, it threatens the development of cash, where the bank and government are profitable.
But if bitcoin is used well, I believe bitcoin is very useful to us.

[Ahimoth]

There are too many reasons for them to do this. It facilitates illegal activities such as bribery, drug buying, money laundering and many other behaviors. In addition, Bitcoin helps users anonymously, so they do not need to pay taxes. In addition, it threatens the development of cash, where the bank and government are profitable.
But if bitcoin is used well, I believe bitcoin is very useful to us.

There's a lot reason why government saying Bitcoin is illegal but the main reason is they see a negative about Bitcoin and it is used as tool for do illegal transactions. Those people are using BTC as payment for buying illegal drugs, weapons and many more, that's why government are against to Bitcoin. They used Bitcoin of some criminal because they cannot trace when they do illegal transactions.

[zorchy]

I believe that it is not beneficial for the government that people buy it, so to speak, the flow of money leaves the economy. Therefore, they apply different types of sanctions for bitcoin.

[Loopper]

I believe that it is not beneficial for the government that people buy it, so to speak, the flow of money leaves the economy. Therefore, they apply different types of sanctions for bitcoin.

Some countries will be very afraid of Bitcoin because if prices go down and everyone depends on Bitcoin when Bitcoin will destroy a country.

[Dukjila]

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

But many countries continue to strengthen control, and not deciding to legalize Bitcoin and the entire market of crypto.

So the British officials in the next report, called on the authorities to further control and regulate cryptocurrency.
Recognizing that Bitcoin and digital assets have no material value, they are concerned about the manipulation of the course and risks faced by investors while continuing to work on cryptology.

Manipulation of the course is the main disadvantage of the whole market as a whole and this shortcoming has to be solved by increasing supervision.

[ngacengan]

maybe it's because the government in your country tries to destroy and break down the price of bitcoin, this bitcoin has very sophisticated technology because all transactions can be seen by everyone so they are very afraid that the government wants to do corruption it can't.

[Katystrong]

Just my opinion, I think that is because Bitcoin is used for criminal and money laundering

[player1001101001]

Government announces bitcoin is illegal, because government consider people will make bad use of bitcoin to money laundering or for any other illegal activities.

[Elqui]

It’s illegal for them because bitcoin doesn’t have tax, maybe they just want to milk from bitcoin and having tax from it to make it “legal” to them.

[Bessta]

Other governments have not yet regulated bitcoin and have not being able to tax bitcoin and other alts transactions. Some governments are not yet ready to regulate bitcoin and due to absence of rules and regulations that shall protect people from cryptocurrencies transactions many are victimized due to scams hence, it becomes illegal.

[#dhabitamartha]

I think bitcoin must be developed and accepted everywhere because technology is very influential on growth in this good life technology is being introduced in various countries and can be accepted wherever this news is good for its users and hopefully even better.

[maxy1999]

No, so many countries are using cryptocurrency in there daily life but some countries are not accepting it as legal which means it is not illegal...
Why they are doing this because the government of that country tinks that it better to think the social problems of the country rather than cryptocurrency

[Thyristor]

the answer is simple, because the government has not really understood bitcoin. if the government understands that bitcoin has many benefits I'm sure they will soon legalize bitcoin.

The government understood very well regarding bitcoins. Behind of bitcoin banning not only one reason. First of all government protect money laundering, banking system affected by btc it is negative thinking of government. People not paying tax in money transfer. Bitcoin is own risky investment it's saying  government.