Post
Topic
Board Bitcoin Discussion
Re: Why bitcoin is not supported in some countries?
by
toaster3
on 04/07/2017, 17:20:01 UTC
Many people have known bitcoin lately and many of the world's policymakers already know about digital currencies like Bitcoin, but many of them have not made laws or legal rules about digital currencies because of the complexity of digital currencies like Bitcoin.
Therefore, from late 2013 to 2014 many warnings and directives from central banks and financial policy-making authorities in various countries have warned that Bitcoin has not been recognized by the state as an investment asset, instrument of payment, or a legitimate currency. Some of the institutions are anxious about the stability of the country's financial system, if large-scale adoption of Bitcoin occurs.
But as time passes, some countries begin to look at Bitcoin and digital currencies with different perspectives, and try to impose rules on the digital currency. Typically, regulation is not something that all parties support. But in the case of Bitcoin, regulation is a gift. Bitcoin regulation is something that the Bitcoin community has around the world.




Each country has its own rules and laws. If everyone starts using bitcoin in the country the government would be in loss because the country wont get enough taxes and etc. Their will be a great loss in the country's economy. That is the reason some countries are not supporting bitcoin.