Simply because bitcoin is decentralized and with that governments and banks cannot control it or manipulate it. Hence if they no authority to control they have no gain or profit on bitcoin. Lately there are some changes on how government treats bitcoin nowadays, some countries already accepted it into their economies which a really a good news to all. It can attract more investors and stabilize the market's price and gives other countries an open mind to accept and embrace bitcoin as well.
Well it could be regulated and the government could also ban cryptocurrency yet it could not be declared as illegal because the bitcoin system is an independent system can work without any third parties that can manipulate the system and that is why it is not declared as an illegal since there are no complains against the system instead more are making positive towards their utilization of the system. 
Topic: why do governments don't make BTC illegal worldwide ? - page 4. (Read 8117 times)
I think many of them want to. But they'd be denying their country from participating in a new asset class and industry.
In my opinion, the government can not prohibit the BTC, Personally, I believe that the main reason why governments do not make bitkoyn illegal is really not what is being violated here. I think that they only reduce the income economy of small people who earn only by searching for BTC.
More money = more taxes, more jobs, better economic growth..etc
Any government with some sort of futuristic vision will already so everything they can do support cryptocurrencies and funnel that new wealth in their country.
Any government with some sort of futuristic vision will already so everything they can do support cryptocurrencies and funnel that new wealth in their country.
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. monero or dash or laundry systems) : this is governments worst nightmare, isn't it ?
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. monero or dash or laundry systems) : this is governments worst nightmare, isn't it ?
The governments dont understand yet, that BTC is a pump&dump scheme on the top of pyramid. Thats why.
This is a compliment to BTC, meaning its complicated scheme.
But on the other hands, governments fail to limit even very clear schemes. For example proven ponzi/pyramid Kairos Technologies is forbidden only in several countries around the world.
It’s a worldwide peer-to-peer network, so it’s not technically feasible for a government to block access to it.
Governments are mostly interested in ensuring it can’t be used for money laundering and other illegal activities.
Governments are mostly interested in ensuring it can’t be used for money laundering and other illegal activities.
I think the leaders cannot control the Cryptos market. They can not change the value of Bitcoin or cryptos. But if they want to undermine the market, they can cause market volatility in the world.
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. monero or dash or laundry systems) : this is governments worst nightmare, isn't it ?
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. monero or dash or laundry systems) : this is governments worst nightmare, isn't it ?
Why should they?They take taxes for it.And if Bitcoin and co. get more accepted they will find the way to get even more taxes from us.Just like from stocks/shares,you can´t save it 1 year to get it tax free like 10 years ago,now you must hold it for 12 years.At least in my country.
I´m expecting the same for cryptocurrency.And also more regulations in future
Government can only go against bitcoin within the area of their governance, they cannot stop it world wide. If they can , it means bitcoin's decentralized nature is questionable. Its like most government are tackling bitcoin because they feel its fraudulent, like internet scam while some want tax payment and some are trying to control inflation.
yes, just to avoid that, many governments make bitcoin illegal. but for now, few countries make that happen. well, I know, some governments will only ban bitcoin in terms of transactions, because that will cover the function of fiat.
they have no control over it, banning would just be 'secondary' measures. and probably taxes
Nobody, no individual, and no central power or government can control, manipulate, ban, hack or kill a worldwide distributed open-source peer-to-peer cryptographically secured a decentralized system. Bitcoins will continue to increase in value, more than gold and silver, there will only be 21 million bitcoins ever, they are cryptographically and mathematically secured, it is decentralized, so can't be banned, co-opted or confiscated/stolen by any central group or government, you hold your own private keys. The future economy is digital and decentralized.
Its because government don't have the power to manage and control bitcoin that's why they don't make it legalized in their countries.
even though the government cannot control, but by legalizing bitcoin and imposing clear taxes and regulations it will at least provide a bit of convenience for bitcoin holders
Government can only go against bitcoin within the area of their governance, they cannot stop it world wide. If they can , it means bitcoin's decentralized nature is questionable. Its like most government are tackling bitcoin because they feel its fraudulent, like internet scam while some want tax payment and some are trying to control inflation.
because it's a technology that will revolutionize the world. As most if not more than the internet.
Also, it's decentralized and they have no way to enforce it. Plus, any government that embraces it will have an edge on countries that ban it.
Also, it's decentralized and they have no way to enforce it. Plus, any government that embraces it will have an edge on countries that ban it.
take example - RBI or the banks only banned crypto currency, not India as a whole. I think they are taking crypto as a threat as they barely control it. Besides, they think that crypto can replace fiat currency soon but that's quite impossible.
Governments don't make Bitcoin unlawful in light of the fact that they adjusting the blockchain technology,which they are profiting and profiting from it, so I don't feel that they can boycott or pronounce illicit of bitcoin with same capacity innovation . possibly they bring directions or can force any expense or any guidelines for the exchanging motivation behind purchasing or pitching to maintain a strategic distance from tax evasion issues from trades. The innovation of the blockchain is endeavoring to actualize money related segment exercises. What's more, blockchain innovation at times is extremely gainful contrasted with current information preparing advances.
In some countries, Bitcoin is considered legal. It is a source of financial power for aspiring investors to turn the cryptocurrency into a monopoly world. Currently, the cryptocurrency market is operating in the world and it is difficult to make Bitcoin illegal.
I think the governments do not want the BTC to affect their economies. I think because they have not seen the real value that Bitcoin can bring to the economy of their country.
Not all nations are against Bitcoin, some countries like Germany, Japan, Thailand are open to Bitcoin and allow it to be used, though they haven't recognized it as a legal tender. Some countries like India declared that cryptocurrency are illegal. The fact of the matter is cryptos, like bitcoin, are neither banned, nor regulated in the country. Some crack down on it and strictly ban. You see, there are so many opinions about Bitcoin around the globe. That is the reason that there hasn't been a global ban on Bitcoin.
Many guys here will say the governments and banks are afraid of Bitcoin because it's a big threat to them. I personally don't think so. Banks have far more functions than just being the third party in transferring money. They lend and borrow money, which benefit company and those who have spare money. It's their core value, not just transfering money. Bitcoin can't be like banks although it does a better job in transactions. Sometimes, when the economy falls into recession, Central bank will do monetary or fiscal policy to regulate the economy. The role of banks is still big and hardly replaced by Bitcoin.
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