Topic: 7 People arrested for Bitcoin Trading - page 3. (Read 3067 times)
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..
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.
Nepal and other countries (Morocco , Russia ) start fight against bitcoin but they have nothing to do against bitcoin only speak and make most new users stay away from Bitcoin
yes you are right, these country and his government are speaking and fighting against bitcoin. the government don't know that bitcoin power no one can stop bitcoin and his trading. one day they realize that and stop fighting against bitcoin.
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.
Nepal and other countries (Morocco , Russia ) start fight against bitcoin but they have nothing to do against bitcoin only speak and make most new users stay away from Bitcoin
Reading this news made me realized how fortunate I am to live in a country that is not yet fully aware of what bitcoin and other cryptocurrency is. Having them banned is quite scary. However, it was already a common knowledge that Nepal and their banks had already announced that bitcoin is illegal. Therefore, laws against it have already been implemented and it is up to the people to obey the jurisdiction of their country or to suffer its consequences. But this people took the risk because they knew of bitcoin's possibilities and potential. It's only unfortunate that they were caught.
Makes me wonder how they were caught for trading? After all, transactions are all anonymous, and this is what Nepal fears the most.
What is this change? If you are using bitcoin you will still have to change it to Fiat. What prevents you in Nepal to open a Bank card in dollars and receive the translations from the sale of bitcoins. The dollar is not prohibited for use in Nepal. Any bans can always be circumvented. It's more an information war. Makes me wonder how they were caught for trading? After all, transactions are all anonymous, and this is what Nepal fears the most.
Reading this news made me realized how fortunate I am to live in a country that is not yet fully aware of what bitcoin and other cryptocurrency is. Having them banned is quite scary. However, it was already a common knowledge that Nepal and their banks had already announced that bitcoin is illegal. Therefore, laws against it have already been implemented and it is up to the people to obey the jurisdiction of their country or to suffer its consequences. But this people took the risk because they knew of bitcoin's possibilities and potential. It's only unfortunate that they were caught.
Makes me wonder how they were caught for trading? After all, transactions are all anonymous, and this is what Nepal fears the most.
Makes me wonder how they were caught for trading? After all, transactions are all anonymous, and this is what Nepal fears the most.
Sometimes it is because governments are confused and afraid, and think anything associated with bitcoin is somehow legally suspect. If electricity is government subsidized, then somebody mining bitcoin and using a great deal of power to do so can put the government in an awkward position, and it is easier to try to forbid mining than to understand it and adjust other policies. And sometimes people are arrested for electricity theft, not for the mining itself.
Who told you that electricity is subsidized by the government? It's a lie. I don't know what country you live but I it seems to me that in your country a variety of electricity rate for individuals and legal entities. This does not mean that the government subsidizes energy producers. This means that the population does not have a large income and not able to pay a lot. Find out at what price your state sells electricity abroad and you will be shocked.
Sometimes it is because governments are confused and afraid, and think anything associated with bitcoin is somehow legally suspect. If electricity is government subsidized, then somebody mining bitcoin and using a great deal of power to do so can put the government in an awkward position, and it is easier to try to forbid mining than to understand it and adjust other policies. And sometimes people are arrested for electricity theft, not for the mining itself.
This shows how much countries are scared about bitcoin, because it can totally disrupts economy
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For the example, my government forbid bitcoin because it can be use for money laundry that's why my government will make the legal regulation for bitcoin.
At the moment, I can still own and trading bitcoin without fear getting arrest !
This shows how much countries are scared about bitcoin, because it can totally disrupts economy
....
....
For the example, my government forbid bitcoin because it can be use for money laundry that's why my government will make the legal regulation for bitcoin.
At the moment, I can still own and trading bitcoin without fear getting arrest !
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.
If bitcoin is declared illegal in a certain country like Nepal, the people shall abide the law or face the consequences specially if they are engaged in an local exchanges business in which not only involved in illegal bitcoin but also no permit to operate such business.The Nepal government should not miss the advantages that bitcoin can gives that if they are really afraid of the disadvantages they could simply regulate it to ensure that it could not be use in illegal activities in which is their reason of banning.
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.
If bitcoin is declared illegal in a certain country like Nepal, the people shall abide the law or face the consequences specially if they are engaged in an local exchanges business in which not only involved in illegal bitcoin but also no permit to operate such business.The Nepal government should not miss the advantages that bitcoin can gives that if they are really afraid of the disadvantages they could simply regulate it to ensure that it could not be use in illegal activities in which is their reason of banning.
This shows how much countries are scared about bitcoin, because it can totally disrupts economy
....
....
For the example, my government forbid bitcoin because it can be use for money laundry that's why my government will make the legal regulation for bitcoin.
At the moment, I can still own and trading bitcoin without fear getting arrest !
I'll give you an example;
Violating laws with such crimes that are prohibited by the country must be followed and be a law abiding citizen.
I can say this because I'm lucky that my country isn't prohibiting bitcoin trade.
If you can understand what I said, you know what those people feeling now.
This shows how much countries are scared about bitcoin, because it can totally disrupts economy
....
....
For the example, my government forbid bitcoin because it can be use for money laundry that's why my government will make the legal regulation for bitcoin.
At the moment, I can still own and trading bitcoin without fear getting arrest !
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's really laughable steps taken by Nepal Kingdom. They were one of the first countries in Asia to open up casino but now arrested people for bitcoin trading. How convenient is that! That means, you can gamble legally but you can't earn money online. That's the actual story of two-faced Nepal king. I strongly condemn this step taken by Nepal King. He just can't digest that fact that their citizens can earn something which is not regulated by them. Not a good news!
It is sad to know that crypto-trading is not legal in Nepal.
Nepal made casino legal coz it help them to earn taxes and increase the nation Income of their country. Moreover it also helps them to increase Tourism in their country.
On the other hand, Bitcoin will not help Nepal to earn any taxes. Even BTC usage may decrease nepal's national incomes as BTC being anonymous and can't be tracked so it may be used for tax evasion.
Ok then, add Nepal to the list of tyrant nations. 
I thought about a trip there, but I no longer visit countries that won't accept bitcoin.
I thought about a trip there, but I no longer visit countries that won't accept bitcoin.
This shows how much countries are scared about bitcoin, because it can totally disrupts economy
Soon all countries will do the same, to prevent the mass to go full bitcoins
It seems to me that all countries will adhere to the General policy of the ban of bitcoin. A lot of money and there will always be a country that wants to keep them. It will be a kind of offshore zone for bitcoin users. Trade exchange and storage will be carried out on their territory. I don't care who earns the mediation. So I'm not afraid of bans. Soon all countries will do the same, to prevent the mass to go full bitcoins
This shows how much countries are scared about bitcoin, because it can totally disrupts economy
Soon all countries will do the same, to prevent the mass to go full bitcoins
Soon all countries will do the same, to prevent the mass to go full bitcoins
When you read the news right they are being arrested not because of Trading Bitcoin but because they are running a cryptocurrency exchange which is illegally operating in Nepal. Bitcoin really in general has nothing to do with it the fact that their exchange is not registered to their country means that their operations are illegal, they are earning from the Nepalese citizens without Tax, the worst thing that could happen is that their citizen's money is vulnerable to being robbed as this exchanges can run without you able to track them back.
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?
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?
It's not just that they were running an unlicensed exchange. Bitcoin trading is downright illegal in Nepal. It's sad, but these people are most likely going to be made an example of.
It kind of makes you wonder just how much power a government can have regarding cryptocurrencies. They can't monitor and stop every single transaction, but they can jail exchanges to make sure their currency isn't used to buy and sell Bitcoins. This problem can theoretically be averted by vendors accepting Bitcoins as payment, so there would be no need to convert, but it still sucks that some governments are too averse to new technologies.
Well, never to judge those three but as an enthusiasts too I think doing the same as they do will be in my mind too as well as others that will take risks. Hope many would realize what crypto bring in a country.
As i know ,Nepalese leaders aren't using bitcoin to launders their money that is why CIB took such action. There are lots of big corruption case where they tie their hands and act blind where as on the issues of Bitcoin they arrest people..
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