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Author Topic: Why do govts don't make Bitcoin illegal worldwide ??  (Read 6720 times)

Offline EthereumDev_

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Re: Why do govts don't make Bitcoin illegal worldwide ??
« Reply #15 on: October 16, 2020, 06:32:21 AM »
because in my opinion the government is still afraid to give bitcoin legality because there are still many people who use bitcoin as an illegal transaction and there are many cases of theft in cryptocurrency, making it difficult for bitcoin to gain legibility.

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Re: Why do govts don't make Bitcoin illegal worldwide ??
« Reply #15 on: October 16, 2020, 06:32:21 AM »

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Re: Why do govts don't make Bitcoin illegal worldwide ??
« Reply #16 on: June 23, 2022, 06:03:01 PM »
States and their governments are not yet in a hurry to finally decide on their attitude to cryptocurrency, since it has many both positive and negative sides. In addition, the states have already highly appreciated the blockchain technology, which is used by the cryptocurrency in its functioning. At the recent G20 summit, it was determined that the cryptocurrency does not yet pose a threat to global financial stability. If the G20 countries change their minds, then appropriate action will be taken.

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Re: Why do govts don't make Bitcoin illegal worldwide ??
« Reply #17 on: June 30, 2022, 05:50:38 PM »
Making Bitcoin legal is not easy, it will definitely pass the debate by many government agencies. And this will be difficult if in a government or a country there are still many pros and cons to the existence of Bitcoin, and one more reason that is most often said is because Bitcoin is decentralized and its value has high fluctuations, it will be difficult for a country to accept as currency.  legal money

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Re: Why do govts don't make Bitcoin illegal worldwide ??
« Reply #18 on: June 30, 2022, 06:27:53 PM »
Everyone in the government probably uses bitcoins and does not want to accept it or register it as a currency pair. It will take a long time for all countries to accept it.
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Re: Why do govts don't make Bitcoin illegal worldwide ??
« Reply #19 on: June 30, 2022, 11:55:45 PM »
It is more complicated to make Bitcoin legal all over the world. The question is, what Government? Every country has its own government. They have their different ways of accepting Bitcoin. This relates to their won regulations. Bitcoin is also decentralized, that is why governments cannot control Bitcoin. This is one of the reasons why it cannot be legal all over the world, only in some countries. But hopefully later more countries will accept and legalize Bitcoin
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Re: Why do govts don't make Bitcoin illegal worldwide ??
« Reply #20 on: July 01, 2022, 08:08:31 AM »
Governments are in no hurry. Cryptocurrency is so new in terms of how it functions in our financial world that it is easier for governments to see what happens. Moreover, at the G20 summit, which addressed the problems of financial security and the impact of cryptocurrency on this issue, they came to the conclusion that cryptocurrency is not a threat to the stability of the global financial system. And the blockchain technology, which formed the basis of the cryptocurrency, is generally very positively perceived by all states. Everything will depend on how the crypto currency will prove itself in the future.

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Re: Why do govts don't make Bitcoin illegal worldwide ??
« Reply #21 on: July 01, 2022, 09:28:25 AM »
yes it is true that every transaction using bitcoin every bank cannot track it and this is very dangerous if it is misused for negative things, maybe that is the reason why every country has not legalized bitcoin.
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Re: Why do govts don't make Bitcoin illegal worldwide ??
« Reply #21 on: July 01, 2022, 09:28:25 AM »


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Re: Why do govts don't make Bitcoin illegal worldwide ??
« Reply #22 on: July 01, 2022, 03:55:39 PM »
In my view, making bitcoin illegal is an act outside the domain of governments. They cannot interfere in it. Perhaps the unification of the whole world is beyond even thinking, many countries have come out in support of bitcoin.

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Re: Why do govts don't make Bitcoin illegal worldwide ??
« Reply #23 on: July 01, 2022, 05:22:33 PM »
Of course, at some point in the world, bitcoin transactions will be introduced, but I think it will be after 2030.Maybe very soon the government will legalize Bitcoin in Bangladesh. In this way, it will be seen gradually that every country will legalize cryptocurrency at some point.

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Re: Why do govts don't make Bitcoin illegal worldwide ??
« Reply #24 on: July 02, 2022, 12:32:01 PM »
I'm wondering this because is such a real threat to bank system and we all know how banks and governments are tightly linked !

BTC could make people more autonomous, self-resilient, being their own bank. You can use it like cash, making your transaction almost untraceable (or untraceable using e.g. dash or laundry systems) : this is governments worst nightmare, isn't it ?

Yeah, because the popularity of bitcoin is increasing and we know day by day many big investors started to invest in bitcoin and altcoin.
As you said, It's nightmare for the government.
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Offline Alichlas92

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Re: Why do govts don't make Bitcoin illegal worldwide ??
« Reply #25 on: July 02, 2022, 01:05:04 PM »
this is my question so far.. it's exactly what you think, if crypto is a threat why doesn't the world declare it illegal.. i feel the global influence is quite big.. only a small part like Muslim organizations for example ban crypto given its harmful effects.

everyone will probably see some benefit.

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Re: Why do govts don't make Bitcoin illegal worldwide ??
« Reply #26 on: July 03, 2022, 04:16:15 AM »
if there would be an agreement, govts would be at peace but they're still not sure about banning it or letting it go.
and yes I agree with you

You are right, Government is confused about making Cryptocurrency most especially Bitcoin to be a legal tender that will be acceptable, adoptable and recognized worldwide.

The acceptability and adoption of Cryptocurrency most especially Bitcoin has been the major bone of contention among govt financial institutions.

Government prefer fiat that is physical, stable and acceptable worldwide to a Cryptocurrency that is volatile, unseen and moreover not acceptable worldwide.

« Last Edit: July 03, 2022, 04:21:25 AM by olafimihan1986 »

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Re: Why do govts don't make Bitcoin illegal worldwide ??
« Reply #27 on: July 03, 2022, 05:12:04 AM »
I think this world needs BTC, but the elites in every government are reluctant to use it for fear of their transactions and wealth being known to everyone in the world, Banks are made to store money, but there is no transparency of the data they provide, because banks impose taxes on account ownership and the bank does not recognize it then declares taxes for administrative costs.
In the crypto world, every transaction is validated by the miner and the miner works fine then gets rewarded for the gas fee. actually the existing system on the blockchain is good, but the government still wants Fiat or paper money to facilitate transactions which in fact Fiat transactions are very complicated because they go through the clearing process
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Re: Why do govts don't make Bitcoin illegal worldwide ??
« Reply #28 on: July 03, 2022, 04:26:48 PM »
this is my question so far.. it's exactly what you think, if crypto is a threat why doesn't the world declare it illegal.. i feel the global influence is quite big.. only a small part like Muslim organizations for example ban crypto given its harmful effects.

everyone will probably see some benefit.
I just want Bitcoin to be legal all over the world, we all know that with Bitcoin it will be easy for us to make transactions wherever we are. If Bitcoin were legal in all countries in the World, how easy would it be for us to travel abroad. We can shop everywhere with one currency, namely Bitcoin.

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Re: Why do govts don't make Bitcoin illegal worldwide ??
« Reply #29 on: July 04, 2022, 12:32:41 PM »
Looking at how old the world financial system is and that people have been living and transacting without Bitcoin over these years most mean something. If we all understand what a strong Economy means for every nation then we would understand why most Governments wouldn't allow a Bitcoin global currency takeover. My view is that Bitcoin should be allowed to thrive for what it was designed for and not continually seen as a possible replacement for fiat currency that way, the Government wouldn't see it as an enemy which it's not but we are the ones making it so. Bitcoin and fiat currency can survive side by side.

 

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