Topic: How can bitcoin be legalize ? (Read 3283 times)

Actually even bitcoins are illegal or restricted in your country there is no law that using bitcoins will result for you to be arrested. In our country even if it's not legalize right now there are some local stores accepting bitcoins as a payment

Government can just be taxing through some merchants which dealing or accepting bitcoin as one of their payment methods because taxing things which are decentralised directly is just impossible just like bitcoin
And about the wallet address, it's right that the owner may unrecognised but once government take an action and can recognise who's the actual owner, all of the owner's history of transaction may be revealed

Ya it is true that if the government legalize bitcoin then lot of unwanted transaction can be stopped but same question will start of bitcoin as decentralized technology and the transaction are unrecognized the owner of it only the wallet address can be found. So how the government will tax the bitcoin and in which category will they put the bitcoin revenue for tax

It is subject to Government policy, If the Government legalize bitcoin certainly many benefits to be gained, one thing that is important is the issue of taxes. With the Government's policy then the Government can use the bitcoin to prevent money laundering and to collect taxes.

The legal status of bitcoin varies substantially from country to country and is still undefined or changing in many of them. While some countries have explicitly allowed its use and trade, others have banned or restricted it. Likewise, various government agencies, departments, and courts have classified bitcoins differently. While this article provides the legal status of bitcoin, regulations and bans that apply to this cryptocurrency likely extend to similar systems as well.

I would say since people are not arrested for using Bitcoin in your country then its not illegal but the issue of operating a store is something of concern because no one is ready to bell the cat just yet with time someone will take the bold step and others will start falling in line. On the part of developing Bitcoin permit me to say its not in your power to make that happen as people will blend with time, just let them blend at their own pace but that doesnt mean you should not do the little awareness your power can carry...

all can be carried out easily, with little logical thinking, maybe you can buy via paypal, or you can buy through netteler, government policies are not always able to resist the flow to trade or seek to profit in bitcoin

Maybe some people are afraid if they open any bitcoin related business because they might be chase by the government. Thats why only few business are into bitcoin related business. If you want to open a bitcoin related business, make sure you study the laws about using it. Some countries needed a license in able to operate this kind of business. Here in my country, there are some establishment are accepting and buying bitcoin. They are free to do that because there are no laws pertaining to bitcoin that prohibiting people to use bitcoin for any business.

Well you can't do anything about it or their is a suggestion in your country i think their is in any country the suggestion box but i a sure you that your country doesn't trust bitcoin at all but instead bitcoin is just like fake to them same as my country they don't really accept bitcoin because of the online gambling but still they don't really think that bitcoin is one of the main reason that the other countries that accept bitcoin made their life easier and much full of enjoyable life bitcoin made countries ease up their stress paying bills online its really amazing but if you have a friend that works on the government tell him about the bitcoin thing or suggestion on the government to open up stores for bitcoin or gather up some people and protest on bitcoin so that bitcoin will be accepted to your country thats my suggestion i hope you agreed to it have a nice daY

very simple:
step 1-make sure that bitcoins is illegal in your country and it is proven by state issued laws,not according to some article or forum speculation
take time to research yourself,then gather all the corresponding documents and consult a lawyer
step 2 if there are loopholes that could be taken advantage of,use them
if you are the only player at the cryptocurrency market in your country you are practically a monopolist
the money is there,take them
if bitcoin is illegal and there are no ways to circumvent the laws,well sucks to be you then
immigrate or try a different business model

One of the most important things why bitcoin is banned in many countries because the government can not do full control with bitcoin. It is a good idea, we can't imagine if there is use of the bitcoin then prices too quickly changed. In my country, bitcoin already decided as a commodity, so it can be used but not legal currency.

You can legalize bitcoin from each country through the central bank but it seems central bank would not agree with that because bitcoin surely affect the fiat currency.

It is natural that people do not want to open a shop with bitcoin payments, because of government restrictions bitcoin so few people are using. It would make little people using bitcoin, so very few transactions with bitcoin. Bitcoin can only be legalized with the help of the government, because the government makes the rules. It was the same as in my country that the government limits the bitcoin, so users bitcoin in my country a little. Perhaps the government could legalize bitcoin just my opinion.

Yes that is not such a big problem for the state, if they want to legalize bitcoin they can do it very simply according to their rules and regulation, I think most of the countries are still thinking about how to regulate bitcoin they may be studying every aspect of bitcoin and after that they will take a decision.

Bitcoin can be legalize from government through the central bank. But this seems is difficult, because will give affect the official currency. May gradually and good socialization to public to receive bitcoin is one step to ask our government for receive bitcoin.

Its very simple I guess it will go through the normal process of every country law making steps but for that to be triggered, quite a number of people to make that push must already be involved and at the same time, events should be happening that will also signal for actions to be taken by the government then after that a bill is forwarded to the legislative arm of government then they do their thing and then they forward it to the President to sign and it becomes law.

 

As others have noted, questions about legality of bitcoin are mostly useless if you don't state what country you're living in.
What I'm writing here only applies if you intend not to break the law. If you don't care about the law anyway, why ask? 

If there is explicit law about bitcoin, you should look at that law, of course.
If there is no explicit ruling about bitcoin in your country, you should first consider the general attitude towards "unspecified" behavior:

• In more liberal countries, one can assume that if something is not explicitly forbidden then it is allowed.
• In restrictive/totalitarian countries, you should assume that if something is not explicitly allowed you could get into trouble when you do it (especially when officials want to get you into trouble).
  

Then it might be helpful to look at how foreign currencies would be handled. For example, if there are rules restricting how much value in foreign currencies you can legally hold, you can safely assume that holding more value in bitcoin would not be allowed. In addition, if businesses need a special license if they want to receive and spend foreign currencies, you probably need such a license as well. Note that even if you are allowed to use bitcoin for payments, this probably does not mean that you may operate a money exchange - for that you most likely need a specific license.

There are various reasons why such laws exist. Most often the argument revolves around money laundering prevention. This argument has quite some merit, since tracking down organized crime often amounts to "follow the money", and money laundering makes that difficult or impossible. The anarchist or conspiracy theorist would probably argue that the evil government likes to watch and control its subjects closely.
As a somewhat critical citizen I see some truth in both arguments. Organized crime and corruption are parasites and negatively affect a society's well-being, both in terms of simple economic health as well as regarding personal safety. However, political and economic power almost always tends to stabilize itself and take steps to impede necessary change, which can lead to a different kind of corruption and parasitic accumulation of wealth.

Onkel Paul

And you call it an example of good regulation? Seriously limiting usage of bitcoin and imposing hard limit on how many BTC you can buy/sell is the worst idea of 'legalization'.
Bitcoin was created to provide monetary freedom, not to be another tool for oppression and limits. We should never have anything like that.

Legalisation of bitcoin is not a tough work but not a very simple .
i think some rules should be made by the bitcoin center .
 people should use Bitcoin in limited amount per week and every user should use only part no. if btc adresses .

Bitcoin can be legalize but fighting in government can be danger.. it is better to start more adoption, and yeah start a business that accepting bitcoin as your mode of payment with rebates just like other stores are giving rebate just to use bitcoin as their mode of payment.
Until motivate them what the good benefits of bitcoin..

Don't you know that in some country, you can go to jail if you hold a protest? Kindly in Vietnam, discrimination can be considered as a crime and you can be easily arrested if you try to against the Government. I only agree to the idea of persuading business to use bitcoin online. Do not try to fight the Government, you will be punished

Yeah there is some countries that bitcoin is legal.. like in brazil they have 150 stores that acccepting bitcoin as payment locally.. and i think more countries are also accepting locally bitcoin as payment.. and hoping here in my country i hope even 1 store are accepting bitcoin as payment but many branches..  so that we can use bitcoin locally.. and legal..

Nothing.

As soon as you open a public service in your country; you will be in trouble.

Do what you do in secret. Better yet, move the fuck out of your country.

I think there are just a few countries that prohibit its use. Even so, it would not make much difference, given the fact that Bitcoin is designed in a way that the user does not have to depend on central authorities to control his own money. It would probably be a problem for physical stores accepting Bitcoins though.

Try to convince people to use bitcoin in business as well as online. More and more people using Bitcoin will make a pressure on the government. They must know how to reconcile the society in order to maintain their economy. If you guys can make a protest, it will make a substantial effect in the way the government treating bitcoin

     It is very difficult to spread the use of bitcoin from the moment where the attitude of your country is hostile. But certainly it will not be forever. See however and the positive side. If you travel abroad will have not to do fiat money exchange. Also, if it is allowed from your country legislation you can buy things from other countries where usage of bitcoin is permitted

It is noted that most of the countries that restrict the use and spread of Bitcoin are usually governed by politicians who are afraid of the future and the loss of their power. It is can be unfortunate because Bitcoin hold the promise of the future.

I think bitcoin only a digital currency, so I think bitcoin I legalize. in my opinion countries which said bitcoin is illegal because some people use bitcoin to illegal activity, so bitcoin is illegal in their countries. But if we use bitcoin in a positive activity I think bitcoin is legalized in the world.

this is meaningless unless you tell us what country you're in. what some people regard as a declaration of illegality is usually one guy's interpretation that has nothing to do with the actual facts in an attempt to scare people out of looking into it.

When it comes to the issue of legalizing Bitcoin, from where I come from its duely not in the hands of individuals but elected representatives from where I come from but the constitution gave room for individuals to actually send a Bill for it to be discussed then it will follow the normal procedure of law making before becoming law but in this country and some other countries, I dont see that happening soon because even those who will evaluate and discuss the issue in the route to become law have zero knowledge on the subject matter...

It probably is not illegal where you are, but there are different forms of "legalization" that may be used to "legitimize" bitcoin.  Two of the more important of these are "Legal Tender" and "Lawful Money".  Legalizing in this sense just means that you apply a pre-existing body of law to it.  It is already legalized in many ways everywhere.  If you break a law using bitcoin it is probably going to bring just as much trouble as if you used some other thing to trade, so it is legalized in that sense already everywhere.


The OP does not specify their country.  Each one presents different challenges, however as soon as the first nation state with an international exchange recognizes Bitcoin as a "legal tender" then all other countries that do exchange with this country also defacto recognize it as lawful.

Legal Tender law is a horrible thing and has resulted in tragic tyranny through out its history.  Under the banner of 'standardization' it has primarily been used to force a constituent population to accept something valueless as if it had value.
In the USA there have been great legal battles as to whether a paper currency that was not backed by specie (precious metal) could be deemed legal tender.  The battle was lost most everywhere and LT law constitutes an unlawful taking from the people by their government, degrades that government away from solid metrics of value for their economy and thereby sows the seeds for financial ruin deep into the national soils.

Bitcoin may be the answer to this for any nation member of the world bank that deems it to be a Legal Tender in their jurisdiction, no matter how small it be.  The first nation to do this will win the jurisprudential lottery forevermore, and the last one to do so will lose.

Legal Tender law is a horrible piece of government, but the best governments are those that also govern the government, itself and force it to do good for its people.  By this mechanism of making Bitcoin a Legal Tender, the Legasy of Legal Tender law may redeem itself by bringing solid metrics back to government standards everywhere.

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Another designation is "Lawful Money".  Jurisdictions that have this designation use it to categorize monetary forms that "may be accepted lawfully".
Legal Tender designates monetary forms that the government REQUIRES its citizens to accept for settlement of a debt.

One is allowed (but may be refused), the other is allowed and may not be refused (but in most jurisdictions you may also accept any other currency by contract, such as bitcoin).

What rule do you mean honestly bitcoin has no rule and we have freedom to use bitcoin and ponzi or hyip are not stealing money they are just making a schemes they are just lying to people to invest after that they will gone..
They can do everything in bitcoin since we have a freedom and we don't need to give our identity to verify our wallet.

However, it is hard for bitcoin to develop. If there is not any rule of using bitcoin, many people will abuse bitcoin for illegal activities. As you can see, it is not legit to build a Ponzi scheme which steals people's money, but if they accept bitcoin as a currency for this system, no rule can prevent them from robbing other's bitcoin

I don't think that you need to ask permission from the government if you want to setup a store and accept bitcoin.  Legalities will be process as usual, the business permit, and other legal documents.  As long as your government does not banned bitcoin, you are free to use it wherever you want.  Just be honest with your tax. And about bitcoin development in your country, you can start it by accepting bitcoin in your store, promote and advertise your store that accept bitcoin as mode of payment.

It was very difficult because if you want bitcoin be legally required approval from the government. If the government does not approve bitcoin unacceptable and become legal. It would even be very difficult to grow in my opinion. You should try to bring judgment to the government that they immediately declares illegal bitcoin

I think this is a process that is needed with any legalization. Firstly, you need to study the laws about btc in your country carefully. Then if not restricted spread the information about it among friends or on some local websites. You have to try asking other people why do they think it's forbidden. Then you have to ask your government why is that so (write a letter to smb). It's good that people don't get arrested for it, at least. Good luck!

i am very confused about this question. In my country, people rarely use bitcoin because of the government restriction. Although people are not arrested for using bitcoin, most of them do not want to open a store or a business which accept bitcoin as payment.
So what should i do to develop bitcoin in my country ?