In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?
You have to understand the factors on why bitcoin is illegal to most Asian/Western countries in order to derive the answer to your question. To shed you some knowledge, here some of the reasons on why I think bitcoin is prohibited:
- Due to its decentralised nature, the lack of any government regulation makes it a threat to the community especially the existence of ICOs that may take advantage of the people;
- Its highly-volatile nature makes it skeptical to some investors as it results to some ponzi scams made by sketchy companies;
- The lack of collateral/security makes it a 'high-risk, high-reward' system; and
- The government's purpose is to protect its people and the country. Anything that may potentially infringe the security of the people in terms on its transactions would lead to the government exhausting administrative means for their protection