Is it necessary for a country to approve Bitcoin?

[pelana vreo]

Developing countries will not prohibit the use of bitcoin for investment, but they will prohibit the use of bitcoin as a means of payment, this situation looks good when we have seen Bitcoin recognized as a digital asset that has a value of up $15k to 20k so we don't have to worry about government regulations if they don't prohibit ownership of this digital asset.
Blockchain is a reason why the government and state parliaments still think about Bitcoin because without Bitcoin, we will not see blockchain technology, which in fact several countries have developed this technology in all state asset management systems from agricultural systems, medicine to other things.

[alltalk]

I think it is necessary, especially to approve it as a legal digital asset. In my country, Bitcoin is already legal as a digital asset. But Bitcoin isn't approved as a payment tool yet. Our laws don't allow Bitcoin to be the payment tool since only our national currency is eligible for the payment tool. For me, it is no problem as long as we can convert Bitcoin to our national currency. There are already some exchanges as the media to convert Bitcoin to our national currency. I have no difficulties to convert it!

[MRM]

A lot of people in every country want to invest in Bitcoin. So many people are willing to invest but bitcoin is not allowed in those countries. So I think in countries where bitcoin or cryptocurrency is not allowed, if it is allowed, users in those countries can calm down a lot and pay more attention to investment. I think it will be easier to transact from banks if it is approved in countries that do not have approval. So the government of every country has to work to make the transaction easier.

[sky20]

Bitcoin approval is so necessary for bitcoin trader of that country. Bitcoin is the strong digital currency which is used many countries. If any country don't approve bitcoin then no one can use it frequently. Other wise there are some problems to allow bitcoin which is developing country. I think some times it is not necessary to allow bitcoin. 

[Anthony Estiva]

I guess it is more likely to be approved in the developed countries. Such as USA, France, UK and whatsoever. For instance, if you can invest then there is a high possibility to extract your spending and asset on your accoubt due to high security of the aforementioned countries funded by their country's department which focuses on digital assets.

[Sentinel]

In the absence of government approval, investing in bitcoin is indeed very stressful. And this is a challenge for investors. And this is considered an art in investing, because there may indeed be some investors who are looking for it.

[sampoerna]

That is how BItcoin exists. Bitcoin is something no very volatile, high of fluctuation, and we may lose much money in it. But on the other hand, do you know why Bitcoin is very worthy to invest in? Because BTC offers a high reputation, value, and also its trust better than other coins. So here, I personally happy about what I decided to enter the Bitcoin world. And about the regulation, yeah, if your country will be more and more developing, why don't we gather to make Bitcoin approved in each country?

[ranaprime]

At this moment i think it is necessary but not the burning questions. Most of the country in the world didn't accept bitcoin but we see that most countries of the people use bitcoin as well as crypto currency with out any interruption. So i think the approval of bitcoin is not necessary.

[Master107]

Necessary mate, because the world approach on digital aspect must level up to eliminate traditional way of transactions in the future. Generally speaking once bitcoin was approved, for sure cryptocurrencies are also legal. The country's people can use all cryptocurrencies benefits according to what type of coins he/she's holding.

[Methos]

There are more people out there wishing to invest in Bitcoin but live in fear, uncertainty and doubts about Bitcoin due to the frequent attacks coming from the banks and governments. Once Bitcoin is approved in a country, a lot of investors in that country calm down and are able to invest under no tension and pressure.

Yes, I think The government should approve and legalize bitcoin. Because Bitcoin is  the future currency. It will be needed in the coming future.

It is not necessary to a government or country to approve the bitcoin because we all have our currency in each country already,  all to be honest we would like make it Atleast a try like a support from our government to implement a certain rules to help us monetize or convert our cryptocurrencies in to commodity.

 

[Vx1]

Bitcoin is a modern payment technology, developed countries should be able to legalize Bitcoin use in their countries.  Thus of course the general public will be calmer using Bitcoin, both for investment and trading.

[Review Master]

To be honest, it's necessay for a country to approve for modern usages. Even they can regulate bitcoin for controlling the illegal activites because both government and crypto-exchanges can reduce those activites by tracking the transections and freeze those cryptos as there no ways to fully identify those suspects. Also, any country can use lighting network for payment usages.

[Riya143]

The development of the country requires the use of modern technology. The use of modern technology will help finance and turn the country into a developed country. This can be done through bitcoin transactions. Bitcoin transactions will spread all over the world and there will be opportunities for transactions in every sector of the country. With the advancement of technology, Bitcoin will expand and the amount of transactions within the country will increase. The governments of different countries will get tax from the transactions. A country's economy will improve. So Bitcoin needs approval.

[Tnoy30]

Bitcoin approval will play a huge role in the economy of every country. If approved, the speed of transactions inside the country may increase a lot. As a result, the government will be able to put pressure on the banks to collect taxes. In the current situation of each country, Bitcoin plays a role in the economy. But the governments of some countries do not care about this. But I think bitcoin approval is needed for any country. Bitcoin approval is required to make transactions and business processes easier.

[Malam90]

It's not necessary for a country to approve or legalize Bitcoin from the perspective of Government. Basically development of a country depends on the adoption with new technology but this doesn't mean to approve Bitcoin because Government has no control over Bitcoin's transaction, regulation etc. Besides, it is now being used in many illegal ways like money laundering, kidnapping etc. If Government can't control and regulate its transaction, they can't come forward to legalize or approve Bitcoin in a particular country but they can find any alternative method.