Why do they need to "legalize" bitcoin to begin with? It was never illegal, was it? The issue is regulation, and regulation means government control. I have mixed feelings about this.
And bitcoin didn't really surge, it's a normal bounce after the big dip happened 1 week ago, and that bounce is not that strong, if you look at indicators other than the candlesticks.
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I think the term legalized here means it's being accepted as a legitimate currency rather than a method of money laundering like bankers and politicians like to paint it in order to further their agenda of keeping the world's money under their control. Bitcoin hasn't been illegals yet, but I wouldn't be surprised if there comes a time when the powers that be try like hell to make it so. This is a huge step towards legitimizing cryptocurrencies on a massive scale and I applaud any nation that takes this approach, even if it does come with the unfortunate side effect of opening it up to taxation, which I believe will be circumnavigated with technology that helps the users of cryptocurrencies avoid detection when using it. We're already seeing the beginning of the end of central banking. This is just another phase in its ultimate demise. 😁
I second that @drakos
it can be seen as laundering if it is a product or service called Bitcoin or Lifecoin and therefore it is no longer money laundering because Bitcoin is not Dollar. Bitcoin is money but it is like not real according to the government or maybe kind of like before more so. And if Bitcoin can be mocked, then it should not also be rewarded a laundering trophy at the same time.
Because the fact that Bitcoin can be a way to launder Dollars would maybe prove that it is a threat to the dollar like a competitor........ but it seems they are too jealous of the Bitcoin.