Why Cryptocurrency is not Legalized Despite the Many Benefits

[Shasha80]

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The sad reality is that the government doesn't want people to have an easy life but they just wanted to feel hard and waste their time with the file of workloads in which we can make it better and be more productive with the aid of crypto. It was just the government don't like it and another reason is that they can't get benefits from crypto as they are not in control of this. Too sad to say like that but they are too selfish and there is no way to spare us but they are happy to see their people keep on suffering while these leaders are enjoying their life.

The government is supposed to aid us to live our life in its most convenient way. And one thing that can be of great help is the use of cryptocurrency. Unfortunately, the government failed to do so not because they want us to suffer but its more of their own personal benefits. They don't want to legalize crypto because it can never be fully controlled by them and the fact that its also transparent so it can be a big threat for government officials.

I'm definitely not against with the government but in this case, i feel like its unfair. But i cannot blame the government too maybe because they think bitcoin is the root of all scamming and money laundering. So let's just leave it that way. Maybe its a matter of time that there will be new sets of government officials that are more open to new technologies and are more transparent in their motives.

The government will not just legalize something because it provides many benefits for the population. The government will see if legalizing
cryptocurrencies brings a lot of problems or provides a lot of benefits for the government itself. But the reality is that cryptocurrencies are difficult
to control, their prices are volatile and can also be used for illegal activities. This makes the government not legalize crypto completely,
usually the government only legalizes crypto as a digital asset. Many countries still prohibit using crypto as a means of payment, there are even
countries that prohibit the use of crypto completely. So if we live in a country that still legalizes crypto as a digital asset, without being able to use
crypto as payment. We must be grateful for this, because at least we can still use crypto, hopefully the government will change its mind someday.

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[Cindella]

The decentralized nature of cryptocurrency and freedom from any control are difficult to be accepted and legalized by the governments of some countries. The government cannot supervise and control Bitcoin. They worry that it will disrupt the original financial and economic system and have an adverse effect.
But cryptocurrency does bring us many benefits and positive influences. Its emergence has changed our thinking and brought freedom for the better.There are now more and more institutions using cryptocurrency technology, and many countries are considering using Bitcoin as a legal currency. If cryptocurrency is legalized in the world, it will take a lot of time.

[guydin]

Actually many people just don't believe in crypto. They consider it to be a fraud, but I think that the reason for it is that they are not familiar with this world.
It is not very convenient in usage now compared to ordinary financial systems, so not all people want to study how it works. I just hope that legalisation of crypto is just a question of time when all people will evaluate its benefits.

[Sithara007]

Actually many people just don't believe in crypto. They consider it to be a fraud, but I think that the reason for it is that they are not familiar with this world.
It is not very convenient in usage now compared to ordinary financial systems, so not all people want to study how it works. I just hope that legalisation of crypto is just a question of time when all people will evaluate its benefits.

That was the case two years ago, but the situation has changed since then. A majority of the world population now believes that cryptocurrency (and Bitcoin in particular) is a genuine innovation. Only a few elderly people still believe that it is a Ponzi scheme. But as time progresses, the user base is increasing and many of those who were previously hostile towards the idea of cryptocurrency will start using it. And although it hasn't made any big moves in the market, the step by El Salvador in making Bitcoin the legal tender was one of the most important milestones so far.

[imstillthebest]

if its not legalized why we are here and why i can use my cryptos to buy stuffs ?
 it is legalized mate but maybe not all countries are doing it but despite of that i think they also know how useful crypto was but their bad side or selfish side overcomes them .
your statement was correct but for the last part i think that altcoins are created mainly because btc was slower and expensive back time but btc improved a lot lately .

[Irenerty]

Cryptocurrency poses a certain threat to the national currency, and the decentralization of cryptocurrency is not controlled and influenced by the government.
National governments pay more attention to their own interests. Some countries do not legitimize cryptocurrency because they cannot control it or obtain benefits from it.
Bitcoin price volatility will also have certain risks, which will cause some economic losses, and it will not be accepted by more people.

[GatotKaca]

if its not legalized why we are here and why i can use my cryptos to buy stuffs ?
 it is legalized mate but maybe not all countries are doing it but despite of that i think they also know how useful crypto was but their bad side or selfish side overcomes them .
your statement was correct but for the last part i think that altcoins are created mainly because btc was slower and expensive back time but btc improved a lot lately .

because every country has different regulations on bitcoin and crypto. some have legalized bitcoin and crypto as futures investment assets, some have legalized bitcoin and crypto as legal tender.
as did the government of El Salvador regarding the use of bitcoin as their legal tender. despite much opposition, they still do it as a payment alternative to fiat.
but in some countries, there is only bitcoin and crypto legalization as a futures investment asset and cannot be used as a means of payment. although some still use it. there are no restrictions on the ownership of bitcoin and crypto assets.

[Botnake]

Cryptocurrency poses a certain threat to the national currency, and the decentralization of cryptocurrency is not controlled and influenced by the government.
National governments pay more attention to their own interests. Some countries do not legitimize cryptocurrency because they cannot control it or obtain benefits from it.
Bitcoin price volatility will also have certain risks, which will cause some economic losses, and it will not be accepted by more people.

If only the people will have the power to legalize the use of crypto but sad to say the government officials will always have the final say and that their decision will always be fixed and final. And knowing that the government is totally opposed with the decentralized nature of crypto so it has no way that it will be ever legalized. But of course the government laws and policies will always vary like El Salvador had and so they come up legalizing bitcoin and eventually adopting it as a legal tender.

However, there are also reports that crypto or certainly bitcoin is involved in different scamming and money laundering so maybe the government is also considering that case and think that it will never bring any good to the people.

[int03h]

Government needs centralization for economic, political and social control. Money is what flows through and nourishes a regime. So currency control is the premise and prerequisite of a country. Bitcoin is a decentralized currency so it does not match the views of the rulers of the countries. So far only El Salvador is using Bitcoin because they don't have their own currency (using the dollar). El Salvador will be a test for countries to consider using Bitcoin.

[criket]

Government needs centralization for economic, political and social control. Money is what flows through and nourishes a regime. So currency control is the premise and prerequisite of a country. Bitcoin is a decentralized currency so it does not match the views of the rulers of the countries. So far only El Salvador is using Bitcoin because they don't have their own currency (using the dollar). El Salvador will be a test for countries to consider using Bitcoin.

it will really be a sample for other countries to consider using bitcoin in their country.
when El Salvador manages to manage their finances with bitcoins which they do legalize as a transaction tool, I'm sure the big countries will start paying attention to the use of bitcoins more wisely.

[sisikin]

Illegal as payment method here, but its legal when we keep it as asset and investment.
The untrackable transaction is one of many factor thats why Bitcoin still not legalized in many areas, and some of them use blockchain to hide their money from taxes. But as the time will go, Bitcoin will legal in many areas (with certain rules), i think the government is on thats direction, they just confused how to make the right regulation with it.

Many countries ban cryptocurrencies because someone loses part of their money due to cryptocurrencies. Scammers scam money in cryptocurrency.
But no matter what industry there will be scammers, I hope that all countries will legalize Bitcoin.
But the good news is that more and more factories, companies and supermarkets are using cryptocurrency to issue remuneration and payments.

[Marcorey]

Contrary to the legal currency used by various countries, Bitcoin is a decentralized currency. Using Bitcoin can bring us a lot of benefits and freedom, but its characteristics will not be controlled by anyone, and the government cannot control it and it is difficult to obtain benefits from it.
Others will use cryptocurrency for some illegal activities, and most countries will not want to legalize it because it is difficult to control.

[Luke Briggs]

As a decentralized currency, Bitcoin's development is not subject to excessive government restrictions or influences, while the cryptocurrency economy is subject to peer-to-peer Internet protocol monitoring.
Cryptocurrencies have not been widely accepted by businesses and consumers, and their prices now fluctuate so much that they are not suitable as payment methods.

Nowadays, many company supermarkets already use Bitcoin as their remuneration and payment method.
There are many countries that banned Bitcoin at the beginning and now accept Bitcoin.
Bitcoin will be the new payment method in the future.

[cafee_orange]

what do you mean by legalized? Is it legal to replace existing fiat currency or is it legal to make transactions with Bitcoin?
for now I see there are countries that prohibit Crypto and there are also countries that allow it, there are even companies that pay incentives for their workers with Crypto. hopefully Bitcoin or other digital currency will be the payment method for the future

[Tashana]

To my knowledge the first cryptocurrency was Bitcoin. Do you agree?
Since 2009 Bitcoin was launched by a person on behalf of Satoshi Nakamoto (aka) there have been very many positive things that have been obtained by people in the cryptocurrency space. Because Bitcoin has a limited stock, thus making the price of BTC expensive and then in anticipation of people being able to invest in crypto, Altcoins were born as an alternative.
Please give suggestions if my post is not correct.

It will take a period of time for Bitcoin to be legalized in the world. The views of Bitcoin in various countries cannot be unified. This is difficult to accomplish. I think it takes a certain yuan to slowly lose trust to completely overthrow the hegemonic system，In order to truly usher in the legalization of Bitcoin.

[sumant]

Cryptocurrency are definitely big payment solution to our society but legalization is government work and they will not legalize that they will not control over it because who will answer public if any fund stolen or any scam takes place. Another part I think in some country government don't understand or don't want to understand about crypto that has effect on legalization. It may takes sometimes to settle down and being a good recognized payment solution. Thank you

[cafee_orange]

what do you mean by legalized? Is it legal to replace existing fiat currency or is it legal to make transactions with Bitcoin?
for now I see there are countries that prohibit Crypto and there are also countries that allow it, there are even companies that pay incentives for their workers with Crypto. hopefully Bitcoin or other digital currency will be the payment method for the future

Bitcoin does have the potential to become a legal payment method in the future, because bitcoin technology can help make it easier for people to make transactions, but I'm not saying that bitcoin will be legalized by all governments in their country because many of them are very worried, that bitcoin can interfere national financial stability system.

yes, that's true, what we feel now with blockchain technology makes it very easy for someone to do anything, but the government is worried that if digital currency or bitcoin is legalized in that country, money laundering will occur by certain parties so that it will disrupt financial stability in his country. In fact, with technology like today, all lines will greatly facilitate the government, but will be misused by other parties.

[King Khaizan]

There are various reasons why cryptocurrencies are still banned in a number of countries, one of which is because cryptocurrencies are vulnerable to being used for crimes, such as Money Laundering to Terrorist Funding. For example, money laundering from corruptors or mafia and terrorist groups to carry out acts of terror here and there. In addition, Bitcoin is also vulnerable to be used for various other crimes. For example prostitution. Because, Bitcoin users are allowed to transact using disguises. The circulation of money is also not tracked by the system.

but that is only a negative side that the government always sees, even though there are quite a lot of positive things that must be seen from the crypto currency itself.

[cheezcarls]

To my knowledge the first cryptocurrency was Bitcoin. Do you agree?
Since 2009 Bitcoin was launched by a person on behalf of Satoshi Nakamoto (aka) there have been very many positive things that have been obtained by people in the cryptocurrency space. Because Bitcoin has a limited stock, thus making the price of BTC expensive and then in anticipation of people being able to invest in crypto, Altcoins were born as an alternative.
Please give suggestions if my post is not correct.

Yes all except El Salvador are either not classifying Bitcoin as legal or illegal. Some are anti-Bitcoin, but others are just in the gray area where they classify Bitcoin and other cryptocurrencies as securities. Because it is decentralized, Bitcoin is prone to money laundering without any third party interference to approve or reject the transaction.

[wahyu wida]

To my knowledge the first cryptocurrency was Bitcoin. Do you agree?
Since 2009 Bitcoin was launched by a person on behalf of Satoshi Nakamoto (aka) there have been very many positive things that have been obtained by people in the cryptocurrency space. Because Bitcoin has a limited stock, thus making the price of BTC expensive and then in anticipation of people being able to invest in crypto, Altcoins were born as an alternative.
Please give suggestions if my post is not correct.

Yes all except El Salvador are either not classifying Bitcoin as legal or illegal. Some are anti-Bitcoin, but others are just in the gray area where they classify Bitcoin and other cryptocurrencies as securities. Because it is decentralized, Bitcoin is prone to money laundering without any third party interference to approve or reject the transaction.

There are various reasons why the state has not legalized bitcoin, including as you have explained, besides that many say bitcoin is close to terrorist activities, and of course money laundering. on the other hand, because bitcoin cannot be controlled, it is considered less profitable for a country, but I think this is just a matter of time and the situation is not right, of course it will develop according to the situation of the times.