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China doesn't recognize bitcoin, so why are there still countries interested in making it legal?

China doesn't recognize bitcoin, so why are there still countries interested in making it legal?

2025-02-28 23:27
A few days ago, I saw the news that the United Kingdom intended to make bitcoin a legal currency. Why? Didn't China not recognize it?
1 answer

China doesn't recognize bitcoin because the Chinese government believes that bitcoin is an illegal and uncontrollable currency, and its price fluctuations are not conducive to stabilizing the economy. But that didn't mean that other countries didn't recognize the value of bitcoin. The reason why some countries deliberately listed bitcoin as legal currency was because bitcoin had unique characteristics such as deconcentrism, anonymousness, and non-government regulation. These characteristics might play an important role in some areas. For example, bitcoin had application prospects in digital asset transactions, cross-border payments, investments, and other fields. In addition, some countries were also worried that bitcoin might cause problems such as inflation and money laundering, so they deliberately listed it as legal currency. It should be noted that countries have different attitudes towards bitcoin. Some countries regard it as an illegal currency, while others are open to it but still need to be strictly regulated and controlled.

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