Legalizing Bitcoin - page 27. | Bitcointalksearch.org

crairezx20

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Quote from: gredisgold88 on October 28, 2017, 03:34:03 PM

legalizing cryptocurrency in country is a difficult, it depends on users cryptocurrency and bitcoin, "how cryptocurrency users participate in state regulation, and demands legalization, by judicative means.". cryptocurrency legalization statistics is very dynamic, and when you see some effort to start receiving bitcoin, it signifies the global elite has received bitcoin as a means of payment.

Honestly there are many countries right now are legalized bitcoin like in brazil, paris, india , japan and here in philippines and i think there are more country right now are using bitcoin locally and they are not experience of any problem using bitcoin as payment the only problem that i think i can see in bitcoin is the price is not stable and bitcoin transaction is anonymous but as bitcoin payment there is no problem using it..
So legalization is not difficult as you said..

Terry05

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Quote from: shamzblueworld on October 28, 2017, 02:43:44 PM

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country.

1. In order to regulate the bitcoin, They need to pass a law which specifically to serve as a guide for the people regarding what is the do's and don't s.

2. after legalizing the bitcoin , the government will have the authority to monitor any transactions and they can able to determine and nabbed the person behind the suspicious or illegal transaction aim to fund terrorism activity. aside from that the government will be benefit also in putting tax on every bitcoin transactions which is very in-favor for the possible economic growth of a country.

gredisgold88

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legalizing cryptocurrency in country is a difficult, it depends on users cryptocurrency and bitcoin, "how cryptocurrency users participate in state regulation, and demands legalization, by judicative means.". cryptocurrency legalization statistics is very dynamic, and when you see some effort to start receiving bitcoin, it signifies the global elite has received bitcoin as a means of payment.

Dexter44

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There hasn't been a country who said that bitcoin is totally "illegal" those who made some regulations are China, Usa and probably the India, but they didnt said that bitcoin is ilegal, a regulation is something completely different. Just remember that China is not killing anyone just because using bitcoins, they are only shutting down some exchanges in their countries, but nothing more.
Bitcoin is legal in most countries all around the world.

yinyangwinwang

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Quote from: shamzblueworld on October 28, 2017, 02:43:44 PM

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country.

To regulate you need to write laws and legislation in regard to bitcoin and that wouldnt be hard. What would be difficult is how a country stands to benefit from legalizing bitcoin and the main thing I can think of is taxation.

Not only do you tax people who make money from bitcoin which would be another revenue stream that was not their prior but you also tax bitcoin how you tax regular transactions. For instance if you buy a sandwich for $10

and 3% of that goes to tax when paying with fiat (0.30$) then you do the same tax scheme for bitcoin. When a shop accepts bitcoin and you pay $10 for the same sandwich the country still gets the (0.30$). This way you

keep the status quo for taxation for goods and services while adding a layer of previously not had revenue in regards to taxing bitcoin capital gains.

shamzblueworld

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So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country.

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