Simplest answer? They can't do it!
It takes a lot of political fiat to censor the Internet. The government, the music industry and the film industry couldn't stop torrents.
And say they ban it. Say they make it completely illegal. Say they make it as illegal as streaming or downloading movies. Will people stop doing it?
Have people stopped downloading movies?
Topic: why do governments don't make BTC illegal worldwide ? - page 6. (Read 8116 times)
Influence is small, and progress is zero.
There are many factors that affect it,Due to different problems or different reasons of each government agency in the world.Yes indeed there are some institutions that have common thoughts and principles that are approved by each government or country.But in these modern times,these agencies only regulate the lands and oceans of each country
Since the ban on the use of virtual money will not contribute to the development of the economy, the authorities, in obedience to the world trend, are making attempts to take this sphere under control.
Well they don't really agree on a lot of things, these governments. Every one of them have different views so for some governments, crypto can be beneficial and for some, it needs to be regulated more.
The determination of currency is illegal or not is the law of each country and it is inviolable. No government has the right to ask the government of another country to recognize a currency as legal or illegal. It depends on the views and development paths of each country.
Government can not absolutely make bitcoin illegal in the world because its a decentralized currency, government dies not have control over it on like banks and other financial institutions.
I think not all governments are aware of the threat that bitcoin and other cryptocurrencies pose to banks. They just don't take it seriously.
Because it's clearly not illegal. But the government and bankers wouldn't just let cryptocurrencies have their way easily. They are now making steps to resist it. Examples are banning it to a several countries across the globe.
Why make it illegal if you could just regulate it and get taxes from people who make money with Bitcoin?
That's a whole lot of revenue for the government that they would be missing out on if made illegal.
But Bitcoin is actually also illegal in a couple of countries: https://atozforex.com/news/top-countries-where-bitcoin-is-illegal/
Instead of forbidding the bitcoin I think the government is interfering in bitcoin. In the near future, the government will introduce legislation on the use of bitcoin. it will be managed. All risk of using bitcoin will be limitedThat's a whole lot of revenue for the government that they would be missing out on if made illegal.
But Bitcoin is actually also illegal in a couple of countries: https://atozforex.com/news/top-countries-where-bitcoin-is-illegal/
Yes, but ofcourse maybe there will be some changes on using it and most importantly the transactions fees and holding it will also give us more expenses rather than good profit.
Why make it illegal if you could just regulate it and get taxes from people who make money with Bitcoin?
That's a whole lot of revenue for the government that they would be missing out on if made illegal.
But Bitcoin is actually also illegal in a couple of countries: https://atozforex.com/news/top-countries-where-bitcoin-is-illegal/
Instead of forbidding the bitcoin I think the government is interfering in bitcoin. In the near future, the government will introduce legislation on the use of bitcoin. it will be managed. All risk of using bitcoin will be limited That's a whole lot of revenue for the government that they would be missing out on if made illegal.
But Bitcoin is actually also illegal in a couple of countries: https://atozforex.com/news/top-countries-where-bitcoin-is-illegal/
I do believe that government had seen something really good on cryptocurrency because of its blockchain technology wherein transactions are very clear and it could eradicate corruption if it is being implemented in a government system. Hopefully that here in the Philippines the president will be able to acknowledge its worth and create something to a new level to eradicate corruption.
Since the ban on the use of virtual money will not contribute to the development of the economy, the authorities, in obedience to the world trend, are making attempts to take this sphere under control.
Well they don't really agree on a lot of things, these governments. Every one of them have different views so for some governments, crypto can be beneficial and for some, it needs to be regulated more.
Crypto currency is extremely decentralized - if the authorities prohibit its use on the territory of a particular country, ordinary citizens and entrepreneurs can virtually pay for it, despite blocking key Internet resources related to the exchange and sale of coins. Eliminating workarounds is almost impossible.
Since the ban on the use of virtual money will not contribute to the development of the economy, the authorities, in obedience to the world trend, are making attempts to take this sphere under control.
This is profitable for them to work with it. I think the crypto world will not be canceled, because this area has not been studied yet and the government has not yet figured out how to use the technology of blockchain and crypto currency more efficiently and has time goes on the government will do the right.
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 ?
Because most of the governments understand that Bitcoin is not totally illegal it's just a currency the transaction made by in the people are illegal it doesn't mean that they will Ban Bitcoins in every country Bitcoin is not having any fault yeah after some days maybe Bitcoin will not be and animals anymore it can be traced so the transactions can be traced and the illegal people will be caught.
The technology that is the foundation for Bitcoin has sufficient potential to make us doubt the need for existing financial institutions.
What's the point of this action? Its prohibition will only strengthen interest in cryptocurrency, because people are always attracted to the forbidden fruit.
It is so because the Governments of few developing countries consider it a way of development and had legalized it in their countries.On the other hand because it is a decentralised currency Governments can not control it therefore some countries do not accept it.
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 ?
They can't make it illegal because they found out that they also need the technology. Blockchain technology have a very wide coverage in terms of its usefulness. Implementation of blockchain in a currency is just one of them. You can use blockchain in any industry and that is the fact that they want you to know. 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 ?
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