Are You Satisfied with Your Government's Stance on Bitcoin?

[Abu-Naim]

Is there a Bitcoin ban in your country? What is the government's stance? Are there taxes, are there strict regulations? Can you use Bitcoin for purchases? Can you trade crypto-currencies freely? If there are bans in your country, is there an opposition party or leader that promises to lift them? If there are bans, do you still vote for the government because you like their other policies? Or would you vote for an opposition that has a positive view of Bitcoin?

Let me hear your thoughts and don't forget to mention your country.

There is no strict regulation that ban Bitcoin completely in my country, cut the government don’t legalize it as well, and they have stoped centralized exchanges from p2p transactions now because they claimed they cause the lack of stable economic development in the country and also it affects the local currency Naira growth which is a big lie because they know exactly what is affecting the economic situation and not the p2p, they just want to restrict citizens from using crypto or centralized exchanges.

I see some exchanges are removing little money for taxes, this is going to the government I think since there is KYC involved in centralized exchanges.

However, I don’t have problem with the restriction rules since the government still didn’t stop me from buying and sending my Bitcoin to my personal wallet, and some exchanges are still active in p2p transactions in case of converting my crypto to fiat; so if the rule will remain like this, it will better because the government it self is not leading properly; and they are the cause if the poor economic conditions of the country.

[avp2306]

There are people from almost every country on this forum and I like how it is. We can get different perspectives from different regions. Even though a lot of information is available on the internet, being able to learn the views of people from that region directly is a big advantage. So I wanted to ask you about the attitude of the authorities in your country toward Bitcoin.

Is there a Bitcoin ban in your country? What is the government's stance? Are there taxes, are there strict regulations? Can you use Bitcoin for purchases? Can you trade crypto-currencies freely? If there are bans in your country, is there an opposition party or leader that promises to lift them? If there are bans, do you still vote for the government because you like their other policies? Or would you vote for an opposition that has a positive view of Bitcoin?

Let me hear your thoughts and don't forget to mention your country.

Our government didn't have any restrictions since anyone can use crypto wherever we want.

Also there's growing numbers of merchants accepting Bitcoin and feel glad that this is happening since this one shows that government is innovative changes. Although there's taxation impose but I'm fine with it since as long as the funds taken by government is been used on good caused we can't complain on those situations they have done. Since what's important for us citizens is that we are free to use Bitcoin and crypto.

I feel bad for other country that decide to ban this coin, because they provably going to be late on innovation and other good changes that might going to happen in future.

[Pablo-wood]

In my country there are no strict regulations concerning bitcoin usage even though the government are yet to take a stand on its legality. The previous administration placed a ban on bitcoin but the current administration hasn't dropped any official memo yet regarding crypto currency generally. I believe it will stay this way for this regime because we have barely a year plus to wrap up this current government, except he finds his way back to power then we should expect the next leadership to take a stand on bitcoin usage for our country but in the maintime our bitcoin usage is with extreme caution.

[WatChe]

I think governments all over the world have same stance on Bitcoin and other cryptocurrencies i.e. they are acceptable to governments as long as governments can tax them and monitor their flow in the country. As far as my knowledge goes, I think there is no governments that has legalised use of decentralised Bitcoin. Same is stance of my country government (Pakistan), there is regulatory body setup to see how government can allow use of cryptocurrency in the country. The aim is to kill the decentralised concept of Bitcoin which is initially proposed by Satoshi.     

[Die_empty]

Is there a Bitcoin ban in your country? What is the government's stance? Are there taxes, are there strict regulations? Can you use Bitcoin for purchases? Can you trade crypto-currencies freely? If there are bans in your country, is there an opposition party or leader that promises to lift them? If there are bans, do you still vote for the government because you like their other policies? Or would you vote for an opposition that has a positive view of Bitcoin?

Let me hear your thoughts and don't forget to mention your country.

Bitcoin is not banned in my country. But government establishments and commercial banks are not allowed by law to deal with Bitcoin. There are no laws on crypto tax but exchanges are mandated to collect taxes on behalf of the government. Bitcoin can be traded freely and used for financial transactions without restrictions.   

Bitcoin laws will be my secondary consideration when determining who to vote for in elections. Other pressing needs in my country need government attention. Bitcoin decentralization makes it easy to bypass strict restrictions. 

[LOVER BOY 422]

I'm not happy with the stance of government towards Bitcoiners in Nigeria,they haven't make Bitcoin investment legal and you can't brag of being a bitcoiner anyway around Nigeria we are regard as scammers,even the government is not even happy with us.

I remember a young boy who bought land in Nigeria very Large potion of land is a bitcoiner could you believe that the government of his state size the document that belongs to the boy concerning the land,this happened somewhere in Edo state ,the government was saying that where do he work that made him to buy this big portion of land.
This is a major reason why I said I'm not happy with the stance of our government in our country concerning Bitcoin investment,they should legalize it,so that all this rough and tough stories will end and die forever,to me bitcoin investment is the best.

[eightdots]

In my country there are no strict regulations concerning bitcoin usage even though the government are yet to take a stand on its legality. The previous administration placed a ban on bitcoin but the current administration hasn't dropped any official memo yet regarding crypto currency generally. I believe it will stay this way for this regime because we have barely a year plus to wrap up this current government, except he finds his way back to power then we should expect the next leadership to take a stand on bitcoin usage for our country but in the maintime our bitcoin usage is with extreme caution.

Generally, governments take this stance because they see Bitcoin both as an investment tool and believe that those who invest in Bitcoin should be taxed, but there is no law regarding this. In fact, their perspective on Bitcoin is generally the same. They neither ban Bitcoin nor recognize it legally.

Many governments invest in Bitcoin, and this is normal. Banning Bitcoin would not be the right thing to do because Bitcoin is a necessity of the digital age, and governments need to acknowledge its existence.

[AbuBhakar]

I'm not happy with the stance of government towards Bitcoiners in Nigeria,they haven't make Bitcoin investment legal and you can't brag of being a bitcoiner anyway around Nigeria we are regard as scammers,even the government is not even happy with us.

I remember a young boy who bought land in Nigeria very Large potion of land is a bitcoiner could you believe that the government of his state size the document that belongs to the boy concerning the land,this happened somewhere in Edo state ,the government was saying that where do he work that made him to buy this big portion of land.
This is a major reason why I said I'm not happy with the stance of our government in our country concerning Bitcoin investment,they should legalize it,so that all this rough and tough stories will end and die forever,to me bitcoin investment is the best.

too bad for the young boy, seriously until now they still have no idea how you can earn real money in crypto they are delaying too much and even confiscating the child's hard work. It is possible that you don't need to have a big investment when you start with crypto especially since you have been here for a long time, I think the child has saved enough money that he has gained from services and trading. Since he was a child they questioned it and because they also have no idea how it works and how to earn money from it they immediately assumed that it was from illegal sources which is sad on the child's part.

[Berry2d]

Mine government is a confused one, in as much as our leaders are not benefiting from it they will see it as a threat because they know through it most people especially the masses will gain stability from it so they won't like that to happen as they derive pleasure when citizens are suffering and running to them for help. Although for now i will say they support bitcoin transaction all because of the new tax payment policy which they know and believe they will generate capital through it but i can't predict there next move

[Lucky_V]

Mine government is a confused one, in as much as our leaders are not benefiting from it they will see it as a threat because they know through it most people especially the masses will gain stability from it so they won't like that to happen as they derive pleasure when citizens are suffering and running to them for help. Although for now i will say they support bitcoin transaction all because of the new tax payment policy which they know and believe they will generate capital through it but i can't predict there next move

My government sees it as scam as there claimed while in reality there knows it offers independent for youth therefore helping the youth escape their matrix thats why they're against it .
In a country where unemployment is vast nothing is better than investing in bitcoin with the little we make .
Bitcoin has come to stay and there is no going back on it , bitcoin is a revolution and am proudly part of it till the end I stand with bitcoin.
Bitcoin offering escape for youths from marginalising leaders is the best thing I'm witnessing in my time.

[khiholangkang]

Mine government is a confused one, in as much as our leaders are not benefiting from it they will see it as a threat because they know through it most people especially the masses will gain stability from it so they won't like that to happen as they derive pleasure when citizens are suffering and running to them for help. Although for now i will say they support bitcoin transaction all because of the new tax payment policy which they know and believe they will generate capital through it but i can't predict there next move

This is a good first step. Your government could benefit from transaction taxes on this industry, as in my country, and the annual amount they collect is quite substantial for the benefits received. The next step will certainly be to accommodate your local exchange for oversight, and then clarify the eligibility standards for digital assets like crypto. This step is gradual.

I don't understand why you say the government prefers the poor to those who are starting to live prosperous and stable lives. If you know, the strength of a country is now also measured by the circulation of money within that country to assess its economy.

[Rabata]

Most governments have not accepted Bitcoin, but the current interest in Bitcoin and the position of the most powerful countries including America are giving a special message to the governments of almost every country that Bitcoin must be accepted. Governments will definitely accept Bitcoin. Although there are many governments that do not officially accept Bitcoin, they are holding Bitcoin privately. Currently, El Salvador has accepted Bitcoin to change their country's economy and they are moving forward according to their goals. Bitcoin will be accepted in all countries of the world sooner or later.

[Crypto Library]

Actually, Bitcoin or Cryptocurrency is already banned or illegal in my country. And after this happened, you will surely understand that I am not happy with my country's government's stance on Bitcoin, because a large part of my earnings comes from i.
Due to the banning of it there, we are being left out of many opportunities. In this case, to answer your question, in my country, not only can you not buy or sell any product with bitcoin, but you can often be fined directly in jail for buying and selling dollars from Binance.

[EFS]

Thank you for all the replies. Most of the comments came from the same countries, I wish the thread could've covered more different places.
As far as I understand, many countries still have a long way to go when it comes to recognizing Bitcoin. This is like a technology race, countries that adopt Bitcoin early will have an advantage in the future. Considering that many governments still haven't fully grasped the concept, this shows that there is still very big potential.

[Call_Me_Guru]

Is there a Bitcoin ban in your country? What is the government's stance? Are there taxes, are there strict regulations? Can you use Bitcoin for purchases? Can you trade crypto-currencies freely? If there are bans in your country, is there an opposition party or leader that promises to lift them? If there are bans, do you still vote for the government because you like their other policies? Or would you vote for an opposition that has a positive view of Bitcoin?

I am a Nigerian, crypto ban is technically absent in my country but the government is not 100% crypto-friendly either. I don't think this will change if there is a change in government, those oppositions and incumbent government seems to be crypto-naive, but the government still wants their taxes from the industry. I am not entirely pleased.

You can know more about my reasons for the Nigerian government's unfriendliness  about cryptocurrency in these 3 points. I even made topics on two of them in the Naija board.

1. As I write, all offshore exchanges are banned in Nigeria. But the stupidity of the government is that they banned the web, but left the app. The app has been helping Nigerian to access Binance, Bybit and many of them. If not, they would have left us completely blank on global choices.

2. The government recently removed crypto from the former 10% Tax on Capital Gains category
 to Chargeable Gains and raised the tax to 25%. This can't be crypto-friendly.

3. Just last week, Nigerian SEC raised exchanges' minimum capital requirement 4 times. It's now at ₦2 billion. That among could crash many exchanges and make it less competitive.

[Fiasem20]

Currently in my country,the government hasn’t been strict towards bitcoin and it’s enthusiasts.I could remember then when I just joined the crypto space and the government was busy banning bitcoin and instructing the traditional banking system to freeze the account of those customers that has any activity related to holding or trading bitcoin,then it got the time when they lifted the ban and later they started imposing taxes on exchanges and a few reputable exchanges went down because they couldn’t cope with the government demand.

[Bitcoin_people]

In the country where I live, Bitcoin is completely illegal and a crime, the government of my country has banned Bitcoin. However, as far as I know, there is a lot of investment and trading in Bitcoin from my country. However, comparatively, there is no political party in my country that is opposed but does not talk so positively about Bitcoin. However, I think that maybe if a political party comes to power in the coming days, there may be a possibility of declaring Bitcoin legal. However, if there is a political party that talks about Bitcoin, I will definitely vote for that party. From my point of view, if there is a positive discussion about Bitcoin in my country, I will support them, but I hope that maybe in the next few years there may be a possibility of legalizing Bitcoin in my country too. If Bitcoin is legalized in my country, then investing here will definitely improve financially.