Why government announce bitcoin is illegal?

[pra]

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

[Viper_Unleashed]

Thats the point Government cannot ban something which doesn't exist physically and that is the reason ban - no ban is just like potato po-ta-to.
few years back also trade we happening and trades are still being made and will be dealt in near future too.
Crypto blockchain all these are revolution and it takes time for being implemented and people to become familiar with crypto.
It has never been illegal and cannot be because there is no physical existence.
But Its also prime responsibility of every government to see that no anti-social/criminal/money laundering activity takes place.
So I guess its just buying time doing its own research.

[Valakhaha]

At present, governments in many countries have imposed heavy management regulations on Bitcoin for the reason that it and other electronic currencies could be used for illegal activities. But that is just a phobia for the fact that Bitcoin is an intermediary exchange that is out of their control. Governments that are ruling or tending to restrict and ban products or ideas. which could threaten their power. Bitcoin, because of its decentralized nature, is considered as a general ledger that can not carry out corrupt behavior. Governments may think Bitcoin is paving the way for the emergence of more transparent transactions against the exploitation of them, and that is probably why they are afraid of it.

[esetop01tryba]

Not all government bans cryptocurrencies, and the reason that it is impossible to control and therefore it is banned but washed away I do not see how anyone can freely use it as it is decentralized !

[Colt81]

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

If this claim is true, probably it will be because Government is very competitive when it comes to this kind of scenarios, and the main reason for that is the power when it comes to distribution of investment is being parted between decentralized and centralized entities which maybe a barried for the government to creat a solid authority in the people and given that Bitcoin is anonymous it bides the law of the government.

[qwerty12]

The government feels that bitcoin and cryptocurrencies can encourage illegal transactions, and can be used for money laundering. Because there are no rules to regulate them. But, I think, all this is not just about illegal transactions, money laundering, and others, I suspect they, the government, feel Bitcoin threatens their authority to control public money. Therefore, most governments announce bitcoin is illegal.

[bitcoins94]

Regulations are happening as we speak. Once the cryptos are regulated cryptos are going to be a thing of all days. And AML BitCoin will be accepted everywhere and by everyone.

[DisWhale]

Governments announces Bitcoin as illegal because of the anonymity feature of Bitcoin which makes it very difficult to track the persons behind a particular transaction. Because of this, the governments claim Bitcoin is involved in illegal activities such as drug trafficking, money laundering etc.

[Goodnuel]

Could go many ways... Governments term bitcoin illegal because, a lot of times they are been used for fraudulent activities.. Again, the bitcoin is very volatile, and a lot of persons do not understand this, so the government tries to protect people like this... Bitcoin has been helpful for transactional purposes, and as time go by, people will understand this, and the government will have no choice but to lift its bad tag of the bitcoin.

[aileenc]

I think the countries' governments are afraid the banks will no longer apply to society and bitcoin cannot be controlled by government. If bitcoin might replace the banks, the currency in that country can be worthless. With all these reasons, the government is illegalizing bitcoin.  Also due to bitcoin was often used for misuse of transactions and payments, many countries may feel that bitcoin is illegal.

[MbakNarti]

The number of misuse of bitcoin carried out by some people for their benefit has caused government anxiety so that there are several countries that prohibit the use of bitcoin. Often we hear about money laundering and so on done in transactions through bitcoin which ultimately damage the good name of bitcoin. My hope and hope that we are all bitcoin can be better in protecting its existence so that it can avoid misuse by some people who are not responsible.

[jeffer8035]

if many governments declare it illegal because they are afraid that the control system they have is over and resides in people and not in institutions, they will be able to prohibit it but always open an illegal market that will subplant it so that there is no one to stop it. there are many banks that invest large amounts of money to give false bitcoin news also they compan and break into the market making attacks with massive sales to make you lose confidence in bitcoin but bitcoin is very strong

[Angi]

They don't want to lost a profit because bitcoiners are not paying much more taxes thats why people in the government don't want a lot of their people using bitcoin because of this scenario, that's why they announce that bitcoin is illegal and spreading a negative purpose of it.

[RadjorBlade]

Not all government bans cryptocurrencies, and the reason that it is impossible to control and therefore it is banned but washed away I do not see how anyone can freely use it as it is decentralized !

The government is divided into two groups, accepting bitcoin and rejecting bitcoin. There are interests protected by each group, especially the control of bitcoin. Because bitcoin is anonymous, it is a problem for countries that reject bitcoin, more detrimental than profitable. They think there is no added value to the country.

[Kuya Kim]

many men many mind. i think government don't have income source by bitcoin.and they don't control.then government announce bitcoin is illegal.

Yes i agree with you. But the question we should ask is the question's authenticity. Did the government really said that? If its illegal, they can take it down immediately. The reason why bitcoin is persisting hecause its not illegal.

[AquaVitae]

Many institutions have fear towards everything new. Government can not regulate Btc. Therefore they are quite against it. But maybe in the future institutions will change their minds and start issuing their own crypto tokens.

[hungsanh2512]

The government may prohibit Bitcoin, but the ban can not be effective. Therefore, they generally use other means to circumvent Bitcoin ownership and transactions. In some countries are beginning to feel Bitcoin as an opportunity more than a threat. There may be no need to prevent citizens from using Bitcoin, even if they save or spend it as actual cash is stored and not just a payment instrument.

[Vishnu.Reang]

Most of the world governments are hostile to Bitcoin, but only a few of them (such as Nepal and Kyrgyzstan) have actually banned it. They do realize that a ban is not practical due to the anonymity of BTC.

[reverseflash]

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

The state wants to control its citizens, and control over finances gives powerful levers for this. Bitcoin, like the rest of the cryptocurrency, almost completely avoids such control and makes people more free.

[BCTalkaccountforsale]

The government regards Bitcoin as illegal because the government can not control Bitcoin transactions, but in some countries there are also countries that allow Bitcoin to pay for living. Legally licensed, that would be good news for Bitcoin users.