Topic: 7 People arrested for Bitcoin Trading (Read 3111 times)
Just for trading! I don't think so because most of the countries are involving in Bitcoin trading and some countries have legalized and some countries are giving warning, but simply trading is not their major problem maybe they did some other thing by cheating people.
They were doing more than just trading, they were running an exchange. Running an unlicensed exchange is risky business in any country.
But I find this sentence from the OP article to be most interesting:
"He further said that if found guilty the suspects will be punished under the prevalent laws of Rastra Bank."
Are finacial laws in Nepal set by the bankers?
The fraud, which lasted from 2015, resulted in 3,900 investors losing $ 38 million. Victims are tricked into investing in Bitcoin investments, which promise bigger profits.But I find this sentence from the OP article to be most interesting:
"He further said that if found guilty the suspects will be punished under the prevalent laws of Rastra Bank."
Are finacial laws in Nepal set by the bankers?
Is this true? To be honest I'm not aware of that news. So maybe that's where the government of Nepal is coming back. Bitcoin started in the wrong foot in that country that's why they put the hammer ban.
But then its not bitcoin fault. People should really do a research before investing. They shouldn't listen to those scammers. I guess they are too greedy because for sure they been promised of a big return. And when someones emotions takes over like you greedy your decision will be clouded and the next thing you know, you are already putting a huge amount.
They were doing more than just trading, they were running an exchange. Running an unlicensed exchange is risky business in any country.
But I find this sentence from the OP article to be most interesting:
"He further said that if found guilty the suspects will be punished under the prevalent laws of Rastra Bank."
Are finacial laws in Nepal set by the bankers?
The fraud, which lasted from 2015, resulted in 3,900 investors losing $ 38 million. Victims are tricked into investing in Bitcoin investments, which promise bigger profits. But I find this sentence from the OP article to be most interesting:
"He further said that if found guilty the suspects will be punished under the prevalent laws of Rastra Bank."
Are finacial laws in Nepal set by the bankers?
The use and transactions of bitcoin and other cryptocurrencies in Nepal is not allowed or illegal according to their own central bank. This is a reason why the Nepal authorities arrested some people who trades bitcoin. Nepal might also seek to impose a strict regulations on cryptocurrencies before allowing their citizens to buy or trade bitcoin. Many countries in Asia are also planning to create a law that could effectively regulates and tax cryptocurrencies in their area.
We do not require the government to address this issue. We are indirectly responsible for this situation.
How are we supposed to force anything from the governments on our own? It's not that they care about people's wellbeing, so you on your own don't stand a chance against the higher authority.The only way to force something through when it comes to the government, is that the mass stands up for its rights. If no one is doing anything and just accepts its faith, then nothing will ever change, which is a sad thing.
People as in the mass have so much potential overthrow the higher authority, but they lack the equal minded spirit to do something, which will likely never change. People will continue to be sheeps for ever.
We do not require the government to address this issue. We are indirectly responsible for this situation.
How are we supposed to force anything from the governments on our own? It's not that they care about people's wellbeing, so you on your own don't stand a chance against the higher authority.The only way to force something through when it comes to the government, is that the mass stands up for its rights. If no one is doing anything and just accepts its faith, then nothing will ever change, which is a sad thing.
People as in the mass have so much potential overthrow the higher authority, but they lack the equal minded spirit to do something, which will likely never change. People will continue to be sheeps for ever.
I do not think they're being arrested for trading.there is probably something wrong with it.no need to be afraid..
My government also do the same because bitcoin still not legalize yet so for who using bitcoin as main transaction especially public store, it's forbidden.
Meanwhile, I can still trading without being being fear against the law because it's just same as stock trading as I'm trade in local platform
I do not think they're being arrested for trading.there is probably something wrong with it.no need to be afraid..
Almost all countries do not have clear legislation on the use of cryptocurrency. Law enforcement agencies are corrupt. Therefore, they arrest users for fictitious reasons. Then they extort bribes and release users. This situation will last forever. We do not require the government to address this issue. We are indirectly responsible for this situation.I do not think they're being arrested for trading.there is probably something wrong with it.no need to be afraid..
Almost all countries do not have clear legislation on the use of cryptocurrency. Law enforcement agencies are corrupt. Therefore, they arrest users for fictitious reasons. Then they extort bribes and release users. This situation will last forever. We do not require the government to address this issue. We are indirectly responsible for this situation.
I do not think they're being arrested for trading.there is probably something wrong with it.no need to be afraid..
As long as it is banned in a country, we cannot do much about it.
Though it's not fair for users to be jailed without being involve in cases such as laundering and fraud. But if at some point they are, they should really be jailed.
The thing is, bitcoin and other cryptocurrencies are NOT the problem. Instead it's the illegal activities that uses bitcoins that should be stopped. Virtual currencies are just currencies, commodities and the fact that it is created for our own good and not for increasing the rate of crime.
I just hope the government see it that way too.
Though it's not fair for users to be jailed without being involve in cases such as laundering and fraud. But if at some point they are, they should really be jailed.
The thing is, bitcoin and other cryptocurrencies are NOT the problem. Instead it's the illegal activities that uses bitcoins that should be stopped. Virtual currencies are just currencies, commodities and the fact that it is created for our own good and not for increasing the rate of crime.
I just hope the government see it that way too.
I am sad for that people..everyone must obey the laws but Bitcoin should not be illegal.
And however it's due crypto is still feared by the governments, and maybe not yet a time it's still that cryptos is really considered more directed to the positively things and responded well by the entire governments.Let the time to answer, hopefully as time goes on bitcoin indeed can be responded well and arranged as possible by the entire governments.. if bitcoin can survive in a very long time and really directed to the currency which's useful, as an alternative currency that's not at all to harm the countries and its citizens.
I am sad for that people..everyone must obey the laws but Bitcoin should not be illegal.
It's the latest in development from the country of Nepal which started nabbing bitcoin traders for fraud. Can be sentenced to upto 3 years in prison.
http://kathmandupost.ekantipur.com/news/2017-10-06/7-nabbed-for-running-bitcoin-exchange-business.html
First case of bitcoin related arrest in the country.
http://kathmandupost.ekantipur.com/news/2017-10-06/7-nabbed-for-running-bitcoin-exchange-business.html
First case of bitcoin related arrest in the country.
That would be a lesson to all of us that we should always follow all the news related to bitcoin and other cryptocurrencies on our countries. I'm so sad for them, they just want to earn few bucks of money through bitcoin trading but suddenly got arrested because of their monetary systems selfishness not knowing some rules are implemented already about it. Well, if they are rich enough, maybe they can afford bail or else stay in the prison for up to 3 years!
They will be punished because in reality they do deserve it.. We can give any reason not to condemn illegal act as it is in the first place.. If we as a bitcoin users and businessmen doesn’t follow the law then we all be in prison for it.. Nepal is just implementing the law and we can’t do anything about they’re decision about banning bitcoin because that is what they feel is right.. Those arrested should go to other country that bitcoin is legal before starting..
I don't know if they do legally or illegally make trades for which they are being arrested.If its just a simple and plain trading up then I would say they don't really deserve it since they might not know that their country is already prohibiting the use and trading off bitcoin but if does then they are unlucky that they are being caught by the government which do really suck if I was on their position.This is why we should really be keen and observant on such changes of laws on our vicinity.It should then be the responsibility of a trader to know and be updated of the laws of their country. The maxim of 'ignorantia juris non excusat' literally says that ignorance does not excuse you from the law. It would be a shame if the traders were simply going about their normal discourse of business and were arrested for this just because of a prohibition within their country. Even i you were not doing anything criminally, having these kind of laws would spell trouble for the common man.
It's the latest in development from the country of Nepal which started nabbing bitcoin traders for fraud. Can be sentenced to upto 3 years in prison.
http://kathmandupost.ekantipur.com/news/2017-10-06/7-nabbed-for-running-bitcoin-exchange-business.html
First case of bitcoin related arrest in the country.
http://kathmandupost.ekantipur.com/news/2017-10-06/7-nabbed-for-running-bitcoin-exchange-business.html
First case of bitcoin related arrest in the country.
This is normal because Bitcoin is ban in their country in which anyone who involve in Bitcoin transaction will face the consequence of defying their law. So therefore they should avoid Bitcoin transactions to avoid being arrested and accept the fact that this government is so blind to see the benefits that may enjoy if they will adopt the Bitcoin investments.
So cryptocurrency in Nepal is some kind of a revolution to their central bank ?. I mean of you do cryptos, you earn money beyond their monetary system and that is prohibited?. Ive read the article and i think those seven people just do a normal day trading just like we all do. It is such that, crypto on their country is against their central bank or rather government thats why they get arrested.
That is why it is so important to follow the rules of the government, if your government does not want you to involve in crypto just follow them first, and you make protest or any studies and show to them if they were open for an open public but if not then you must have to be careful with your actions. 
So cryptocurrency in Nepal is some kind of a revolution to their central bank ?. I mean of you do cryptos, you earn money beyond their monetary system and that is prohibited?. Ive read the article and i think those seven people just do a normal day trading just like we all do. It is such that, crypto on their country is against their central bank or rather government thats why they get arrested.
They were doing more than just trading, they were running an exchange. Running an unlicensed exchange is risky business in any country.
It is a good point but if you think about it: bitcoin is "illegal" per se since the country simply doesn't have a definition or regulations for it. And although it's out of law, it's not prohibited? So how can anyone possibly get a license for something so undefined like bitcoin?
I'm sorry for those guys as well. Their arrest doesnt look fair t me(
Very interesting may details. I think that here some kind of a problem with those who sell
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