Topic: Why bitcoin requires approval from countries ? - page 11. (Read 1789 times)
Merchants accept it as a payment method. For example, Germany allows ATMs to be set up, so this news may be a step towards allowing them. Bitcoin turns out to be a brand called fiat or usually an electronic currency, which we all recognize. It's all about country control talking about bitcoin that often becomes its very own issue.
It is mandatory to be because the country needs don't approves bitcoin as a currency will not allow people to use it on the governmental level to pay for a medicine services, to pay insurances and etc.
Approval also means accepting. It is really important that a certain country will give approval before using bitcoin so that later they won't became angry with Bitcoin. Like Germany, they approved Bitcoin, it simply means that Germans can use Bitcoins in every transactions such as purchasing and as payment without the hesitation that bitcoin will be banned since their country approved Bitcoin. On the other hand, if a country doesn't approved Bitcoin yet there's a possibility that Bitcoin will be no longer acceptable in that country. Better to know it early.
Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
Hi there BTC.Turtle! The approval is not actually, an approval to use bitcoin in that country. It is an acknowledgment that there are people in that country that could use, mine, trade bitcoins. If you have heard about sanction, that is the opposite of that. The government could issue a sanction to a specific item product it could even be a flower or toothpick. That sanction is a ban in order to protect their citizens from untorrow incident or bad situation. The government of Germany, sees that bitcoin could use a form of currency which then be used as a payment for a product or service.
Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
Actually, Bitcoin does not need approval. The problem with countries is that they want to control everything. They want to regulate everything. Freedom, in this sense, is something that may be allowed but falls well within their authority and control. Of course, they need to do that since they are the caretaker of the country and its people. However, they oftentimes go aboveboard.
After an approval from a country of course people can freely use bitcoin locally. BTC actually doesn't required approval to be used anywhere.
I think because the Bitcoin has value selling is very high so that people who follow the business was, of course, the result is incredible. And why there should be a permission from the Government because they wanted any income must pay taxes. Whereas during this income from taxable Government yet Bitcoin.
Bitcoin in most countries are considered to be digital asset which is mostly monitored and controlled by the SEC. This is to protect private and corporate investors and also monitor money laundering and various complexities with taxation laws of the particular countries such as VAT, CIT and WHT. It's a complex issue than you might think !!
It doesn't really need any approval it's already been used in many country even though they didn't sign or approve, they just approve it to legally used it for merchant
No not totally need some approval. Every country and everyone of us can do cryptocurrency even if it is not approved by our government. Maybe some of the country are doing that for the formality purposes and in order for them to support by their own government. Yes it is better if the crypto are supported and regulated by the country but if it is not, then you can still do it without any permission or approval.
to registered in the country to use people bitcoin.
Because it is a virtual CURRENCY.
To be accepted to use for trading and accepted to deposit money from your bank accounts into those bitcoin exchanges, the governments need to know the purpose or benefits of having that currency. If it is harmful, they wont allow anything.
To be accepted to use for trading and accepted to deposit money from your bank accounts into those bitcoin exchanges, the governments need to know the purpose or benefits of having that currency. If it is harmful, they wont allow anything.
I think bitcoin is not required approval by a government order to use it. But it will be goood if the government will legallize bitcoin
The government don't usually get in the way of you making money online. But when something goes in the millions of dollars worth then they take notice and take action. It can not be monitored by special services and bitcoin does not pay taxes, so countries are asked to legalize the currency.
Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
Because you are in your country and must follow the regulations there. The government may doesn't allow bitcoin but they cannot fully ban it.
You still can own bitcoin by mining it directly to your wallet. The approval of government only allow you to buy and sell bitcoin in your country freely.
Bitcoin doesn't need approval from any cental authority for it to be used. Instead having the government trying to exert a level of control over bitcoin will lead to it being regulated in some way.
There are some countries that did not require the approval of their authority for the use of bitcoin and other cryptocurrency like here in my country. Presently, my government has not yet approve the use of bitcoin in any transactions but it did not restrict its citizens to use cryptoctocurrencies in their transactions. The central bank approved the use of bitcoin in the remittance only but they are studying the possibility of legalizing it someday. They are already giving licenses for the qualified cryptocurrency exchanges in this country so the next step would be the regulation or the legalization.
Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
Bitcoin is a decentralized digital currency that no single authority controlled it that's why it doesn't need an approval to use it from a country. Those country that needs approval are the countries that makes bitcoin legal and their country regulate it. They have the rules to follow regarding bitcoin and they are obliged to pay taxes.
Bitcoin only needs approval from its users. Once you are a holder of bitcoin, it behoves you to spread the good news about bitcoin. You should be able to explain bitcoin in simple terms to anyone at all. This is the best and only approval bitcoin needs. Governments may not openly support this groundbreaking technology because it seemingly gives too mush power to the people.
Oh that is because the country has a rule to follow set by the government, if there are no law about bitcoin in country then it might not be illegal yet or the government is either researching the uses of it to benefit the country or the do not care at all
So the thing is, there is always a government intervention when the concern is a country. The government decides for the sake of their own country thus bitcoin needs approval from the gov
So the thing is, there is always a government intervention when the concern is a country. The government decides for the sake of their own country thus bitcoin needs approval from the gov
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