Why government announce bitcoin is illegal?

[bajigur894784]

Bitcoin is a cryptocurrency that is not issued, does not need the third party, and does not depend on central authorities such as the government.

Well, Government, the first thing they do is form a currency. They want to control the currency, they control through the central bank, they also want to know who owns it, where it is, etc. Obviously, this shows that this is precisely why many governments decide to make Bitcoin illegal.

However, Bitcoin / Cryptocurrency laws frequently update in many countries as the technology evolves and usage increases.

[emberbekas]

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

To be honest, the use of bitcoin can be divided into two parts, as a currency and as an asset. It is true, in some countries, including in my country, bitcoin is prohibited from being used as a payment instrument due to its price volatility. But on the other hand, our government does not prohibit the use of bitcoin as an asset. We can still buy, store and sell our bitcoin in the same ways as any other assets which have existed. So, not all countries forbid the use of bitcoin.

[mutrang23]

One reason given that criminals use Bitcoin as a currency for its illegal transactions and open governments are likely to find such deals, so they Banned for Bitcoin. The government has also made assumptions about the destruction of Crypto to prevent such illegal transactions.

[4rzun4]

Some illegal activities are carried out through bitcoin by people who are not responsible, money laundering and funding of terrorist activities carried out through bitcoin. this is one factor that causes the government to ban the use of bitcoin.