Legalization of Bitcoin in many countries has proven to be a very hot topic since there are countries which viewed Bitcoin as a threat since the currency is decentralized, not backed by anything and is gaining a strong following and use in such a short period of time. Bitcoin has become a phenomenon which caught many by surprise.
Perceived as threat, there are some government authorities who are proposing to regulate the cryptocurrency but as a compromise make it legal. It is as if they want a give and take kind of game.
Should we allow to get into the compromise as long as Bitcoin can be legal or should we make a strong stand against this scenario?
Though a law hasnt been passed to govern bitcoin transactions globally, it is self explanatory that the kind of activities a person carries out with bitcoin ascertains whether its legal or illegal. To ensure maximum protection to users their are various precautionary steps being taken by Bitcoin Wallet agencies, to prohibit the users from indulging in speculative activities.