Topic: Bitcoins Regularization in Different Countries (Read 413 times)

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So tell me which part of that map is showing that Bitcoin is illegal in most countries when in fact its legal in most countries including the developed ones. Every time someone here in the forum is posting about Bitcoin being illegal I always remember this map that says exactly the opposite of what they believe. Bitcoin being illegal is something brought by crypto news websites and people creating bad articles, opinion, and misleading headlines that's why in the perspective of many Bitcoin is indeed illegal when in fact it's not. If I were you I'll spend more time doing on my own research and background checks before I start believing in anything what I always just see in the internet.

I don’t think you can start a Bitcoin campaign in a country where it is not accepted, a place it is illegal.
If you start such campaign it shouldn’t be offline and public because you might have some serious problem with the government.

So, it should be something you do online maybe posting about it social platforms and also letting your friends know about it. Maybe when a lot of people in that country starts talking much about it to the extent they will get the attention of the government, maybe the government will consider cryptocurrency and allow people to start making use of it.

Awareness != Knowledge
I am sure that 95% of people are aware of the existence of Bitcoin right now, and less than half of that are probably the people that truly knows what Bitcoin is.  I've seen some people making their own seminars towards making the awareness as well as knowledge to Bitcoin to people. Banning would be like an instant game end for them, unless people could use VPN or do personal tradings in their area. I am not that surprised if every countries that had cryptos banned would do this anyday.

The governments of many countries are very stupid, and before exploring and understanding, they want to ban everything.  In the same way, many officials want to do cryptocurrency, and especially bitcoin.  Of course, on the one hand, governments can be understood when they declare the fight against terrorism and the financing of criminal activity using cryptocurrencies, but if cryptocurrency is legalized, certain regulatory processes will appear and, accordingly, the mass of fraud and criminals in the cryptocurrency market will decrease.  But the government is more willing to ban, not allow.  But I believe that in the near future the situation will change, because many leading countries, including France and Germany, as well as Japan, are already fully using cryptocurrency in their countries.

They probably still don't update it with the current status of the country. Or it may be a mistake made by them because of the lack of information from the country. I think it is understandable but will harm a bit for newbies that never recheck the truth.

Same with me. Not really sure to talk about the status in other countries, so I prefer to choose my country.   Yeah, I know well about the current status of Bitcoin in my country. It is legal as a digital asset, but still illegal for a payment tool. To be a payment tool seems a hard thing since it is prohibited by the law. So, people just convert their Bitcoin to our national currency when they want to use it for paying daily needs.

So North Korea, the country of total population control with unimaginable censorship laws and where freedom of speech is equivalent of death sentence is turning to bitcoin...
Of course, I understand it's not for the people but for the "country" of for those that rule the country but still

Don't you think it is so fucked up?
It's like Nazi Germany organizing a conference on LGBT rights or throwing a party on the slavery abolition day.

Sometimes life beats Hollywood both in special effects but in stupid scenarios hands down.

Well, I think as of now the chances of Bitcoin Regularization is 50/50 chance because the government in different countries have acknowledge the negative side of using the crypto, tho there are still advantages that they see but they are still doubtful about its negative effect.  Based on my research there are 10 countries that up to now they still banned bitcoin and there are also countries that didn't totally ban bitcoin but they are restricted from trading or cannot be used as a payment.

Here is my source:
https://cryptonews.com/guides/countries-in-which-bitcoin-is-banned-or-legal.htm

If a country does not legalize Bitcoin on the grounds of it having been widely used as a bait for people to invest in a ponzi with a too good to be true ROI promises, then I would assume that the country, its leaders to be exact, do not yet know what Bitcoin is. Because of this, they should defer any law or legal policy. A country which considers Bitcoin illegal because its name has already been badly stained by these illegal investment organizations is treating Bitcoin unfairly. As such, the legal policy is based on ignorance and should therefore be removed. That is basically throwing the baby away with the bathwater.

Our country is still in the middle of acceptance as there are happenings also here where many lost their money because a certain organization uses the bitcoin as a form of investment while promising a 30-400% ROI within a month. And because of it the image of bitcoin or crypto currencies in our country has been stained badly.

Other governments are surely looking for this also and still studying whether they are ready for bitcoin acceptance by legalizing or not yet. Each countries have different criteria in regulating the crypto currencies so we can expect that there are still countries that will banned bitcoin and there will be countries that will legalize it.

Depends on which countries, but most global powers does not accept Bitcoin still as of the moment. It might be also because of political stands, but we're uncertain.

China does not want a decentralized coin, but rather is creating their own (for manipulation and monitoring). US on the other hand, simply does not approve because of anonymity reasons.

But there are still hopes for adoption. Japan started to research about the feasibility of XRP in banks, while Venezuela seems to be close in adopting Bitcoin as one of their alternative currency, hence their problem in economy.

It's difficult to understand even though I am not good with English myself.

I am guessing you are talking about scam exchange which are not giving back funds that are hold in their account.
Then, governments not letting people to join ICO or is it would not let an ICO be permitted to start in their jurisdiction?
I am looking at your post history and it is full of ICO reports and maybe that is why?

Where are you from my friend? Maybe we could expand the explanation if you can add that.

It will be a long way before bitcoin will be accepted and regularized in different countries, as what you have said, there will be a lot of information verification that will lessen the privacy of one consumer, and we cannot say that everyone wants that. Besides, bitcoin is still on developing stage where we invite people who are interested in it. Everyone is used to have transactions and exchanges in fiat currencies, so it will not be easy having a brand new currency that will be used in our daily lives.

I'm not bothered if the other country banned bitcoin or put it into illegal coz in our place, it is already been accepted and been supported by the government. May other countries are in question for Bitcoin's legality because some of their people are in abusing it and used for illegal activities in which if I am the leader of that country I should have to chase them (anyone that uses Bitcoin).

Everyone has a different point of view for Bitcoin and most likely, some government leaders never appreciate then since they can't control the market and even used for some illegalities. And even this regularization may implement but that it assured that we are free from things. 

Actually, Bitcoin is definitely legal in some countries but indirectly, there are some hidden information then we can't even know about them especially in social media, due to  the governments do control them. In addition to that, I see that Bitcoin in a good progress despite it faced a lot obstacles, but to be honest, I don't really think that the governments especially the strongest ones will recognize Bitcoin as a legal currency in a short and medium term, but  I expect that everything is going to change positively in a long term.

The United Nations is warning about the risks of attending North Korea's cryptocurrency conference in February.

Reuters reports Wednesday that going to the event would probably be a violation of international sanctions, according to a confidential report soon to be put before the U.N. Security Council.

The news comes after ethereum developer Virgil Griffith was arrested and more recently indicted over attending the conference to give a talk last April. Griffith has been charged with conspiracy to violate the International Emergency Economic Powers Act.

North Korea has been accused, in another UN report, of funding its weapons of mass destruction program with hacks of cryptocurrency exchanges, as well as banking institutions. The August 2019 report said North Korea has used “widespread and increasingly sophisticated” hacks to amass around $2 billion, which is laundered over the internet.

Any effort seen to be enabling the regime's efforts to circumvent sanctions would likely be illegal under UN rules.

“Supporting the DPRK’s use of cryptocurrency and blockchain technology, risks violating the Security Council’s resolutions because it would unavoidably increase the DPRK’s ability to subvert sanctions and generate revenue for its weapons programs,” an anonymous British government spokesman told Reuters.

The website for the North Korean event is reportedly seeking to attract U.S. attendees, saying their passports will not be stamped on entry, helping to obfuscate their visit.

An excerpt from the new UN report, seen by Reuters, states that past talks at the crypto conference “have included explicit discussions of cryptocurrency for sanctions evasion and money laundering.”

thats bad if they just ban people without returning the funds and these people can file a case in regards with these matter and their reputation can be affected . if you are an owner of the exchange will you do it when you know that it can have a bad impact on your business ? of course no if your still on your right mind  . and what you mean by campaign  ? something like protesting for the legalization of bitcoins  ? i think i have seen some of it before  but i dont get the update if the movement was succesful or not but i knew that many countries are now joining bitcoin  .

When some countries like Japan already adopted BTC, gradually other countries are accepting BTC as well that right now only few countries are banning BTC. China banns it but looks very vague law about it.


Its the only country that isolate itself from the rest but were taught by ETH developer lately which means they were beginning to consider blockchain. Do they have a law already about it that holding BTC is punishable?

Bitcoin was widely used as mode of transactions, source of income, project funding and so on but until now, there's still a lot of country prohibits their people to participate in this platform just like here in the Philippines currently the Chief of  Central Bank gave us a warning about the risks and possibilities in growing cryptocurrency use in the stated country. Most of the government implies that Bitcoin Platform is a potential for funding terrorism which I think is because this platform exhibits anonymity, in which personal information of the people involving in a certain transaction remains anonymous and if anomaly was performed authorities will find it difficult to solve this kind of cases, which I understand but I am till hoping that sooner our country will finally legalized bitcoin in every aspect.

North Korea I guess

Simply because cryptocurrencies are decentralized yet anonymously generating across the world of internet, this will take time for them if their people are getting involved in this kind of monetary system. However, the place where it is prohibited wouldn't get that easy for them to spend their earnings and wait till their government acknowledge the utilization of this currency.