Topic: Legalization bitcoin - page 20. (Read 2482 times)

In asian countries,some times its too easy to income and on the other too hard.depending on population growth its illegal in our country.

There are countries that started to legalize and adapt Bitcoin. First of it is Japan. I don't know if Bitcoin is legal now in the Philippines but our Central Bank has already make a good feedback about it. I hope that sooner or later, it will be legalize here. As for some countries, maybe they are still taking it to consideration and still studying the pros and cons if they legalize Bitcoin.

I think the reason why other countries can not legalized Bitcoin is that they still does not believe what is the good effect and the benefits of Bitcoin . They are still new in digital currency or crypto currency that why they can not legalized it to their country. They are just trying to protect their people in scam. We know that in internet scamming is the biggest problem. But if it is legalized you can feel much more guaranteed that your money is safe and your saving.

Lots of countries have already legalized bitcoin and only a few who view them as illegal remains. According to this list, it seems that many countries have a neutral view of bitcoin compared to those who view it as illegal.

Legalization does not happen on those countries because somehow, they see btc a threat to their economic stability or they simply have no means to regulate it at this moment.

For me bitcoin should be legalized. First, there’s nothing wrong about it. Like it is not really used in illegal activities or something. Once, it’s legalized then it will be easier to track those people who attempt to use it in illegal activities.

Russia and japan already legalize the bitcoin and other countries should legalize bitcoin soon because crypto currency is more safe and transparent then  fiat currency, in our country it will take time to legalize because its developing country not developed one, we not have so advance and stable technology and system to implement to whole country .

Then how was it possible for the Japanese government to regulate and legalize Bitcoin so easily?
No, I think regulating it is fairly easy and straightforward and shouldn't even cause too much problems for most countries.

Regulating Bitcoin is just a matter of adjusting a few laws, which could take some time, but I wouldn't say is especially hard either.

Bitcoin is a cryptocurrency which means it is an alternate currency to our own. Bitcoin adds a new element to the world economy and it cant go through inflation. Bitcoin is supported by thousands of people "mining" for bitcoins. 1. Bitcoins unlike the federal currency are not backed by federal funding and banks to make it secure, instead they have separate people making it secure. 2. Bitcoin mining is where you make your computer do complicated math equations while you slowly rake it bitcoin profit by helping the security of the currency. By offering an incentive (bitcoins) for securing the currency they make people want to help, getting stronger by the day. Bitcoins are an economic revolution and their functions are useful and plentiful. Some countries already legalized bitcoin, other will join soon.

bitcoin is legalized in many country, but not used, maybe you was looking for regulation not legalization, regulation is only in japan for now, and i remember australia and russia are going to be the next one

The governments' reactions are understandable because they just want to protect their economy and their people. Most of the average joes has no clue about bitcoin (and about shares, commodities, derivatives, forwards, options etc...) They know about cash and credit card and that's all. If they start to buy bitcoin, because of the hype at $6,000 and after the first upcoming correction they panic sell it at $4,000, they will complain to the government why it was allowed to buy bitcoin.... this is only the first aspect.
The second is, governments and tax authorities can't really follow the payment chain when bitcoin is used as the method of the payment. They prefer the bank transfer, which they can trace easily. Using cash above the sum of $1.000 is also banned in most of the countries in the EU (or something similar, to prevent money laundry). It's not easy to move large sum of money in cash. If people/companies moves it via bank transfer, it's traceable. But it's easy to move a large amount of money if it's in bitcoin, and thats a pain for the tax authorities, because they're not prepared to track it yet, so they won't allow it's usage as long as they find something that can help them to deal with bitcoin transfers. Maybe it's not illegal to pay with bitcoin, but a shop or a store can't accept payment in bitcoin, because they can't legally account the income in their ledgers. Incomes which are not taxable are not good for the economy/government, this is why central banks are against bitcoin at the moment...

he legalization of bitcoin in Malaysia could provide an alternative financial and remittance system to expat workers and foreign investors to move money out of the country efficiently.

Speaking of legaliization of bitcoin only japan and australia enforcing the law that governs allowing the cryptocurrency as the secondary money in there country. They accept digital currency as mode of payments and purchasing goods in many establishment.

I hope the country whose population of bitcoin users immediately legalize bitcoin in its area, because it will be very helpful for its own population both economic problems and transactions of goods or services payments.

because they do not know all about bitcoin so they think that bitcoin is a scam, it seems to me that only people who have little insight are easy to conclude on this point.

I think the first Japanese state legalized or received bitcoin.

Bitcoins are of interest to law enforcement agencies, tax authorities and legislators. They all want to match the existence of this cryptanalyst to a specific legal framework. In fact, its legality depends on how you handle it and how you do it, just like with a conventional currency.

Lawmakers and regulators have set themselves the goal of verifying that the bitcoin currency is lawfully used. And although Bitcoin has been online recently, it has generated a lot of discussion and litigation in the legal world. The uncertainty of the authorities about this cryptanalyst comes from incomplete knowledge on this subject. So, is bitcoin really legal?

The answer is yes, it is legal if the way you turn it is legal. Below you will find a complete legal overview of bitcoins. A large part of the topic concerns the US, where most of the legal conflicts with bitcoins take root.

Bitcoin can't be legalized that easily .. It can cause an economic problem for many countries ..

I think the government is too long to decide on Bitcoin's loyalty. If they are aware and understand Bitcoin can be one way out of a country's economic problems. Or maybe because a big country like the US has not legalized Bitcoin which has resulted in many small and developing countries yet to legalize it.

Well I think bitcoin is legal in some countries and some other countries are going to make it legal in their countries and I think it very important for bitcoin when it became legal around the world so bitcoin can collect taxes around the world investors, traders can be more increase as well the users can be also increase it will give benefit to bitcoin and to the users as well.

Many countries are legalize the bitcoin because if not how they use in their country and how they convert it to their local currency.  Like to my country we use it as a payment to our bills or buy some stuff online.