Don't panicked if bitcoin illegal in your country.

SFR10

legendary

Activity: 2968

Merit: 3406

Crypto Swap Exchange

Quote from: Crypto2047 on June 15, 2022, 01:27:26 PM

China.
~Snipped~
But still they are big cryptocurrency traders and doing cryptocurrency trading.
No matter what the country does about the prohibition law but still transactions are smooth.

I have to disagree if you're implying "Chinese nationals" that are currently living in China can "easily" transact in BTCitcoin, despite imposed restrictions!
^{- I wouldn't label those transactions as "smooth" if they have to go out of their way to achieve the desired result.}

dansus021

copper member

Activity: 1988

Merit: 905

Part of AOBT - English Translator to Indonesia

Quote from: Crypto2047 on June 15, 2022, 01:27:26 PM

Indonesia.

i am from indonesia and yes here crypto is highly regulated but not 100 percent illegal you can still trade the bitcoin and other of crypto as asset and there is Gov department to take care of it . in here Crypto still illegal if u are using it for payment replace the fiat.

if the country said illegal like indonesian back years years ago i still can withdraw throught P2P merchat and yes the price might have bigg slippage

Crypto2047

newbie

Activity: 4

Merit: 0

Bolivia.
China.
Colombia.
Egypt.
Indonesia.
Iran.
India.
But still they are big cryptocurrency traders and doing cryptocurrency trading.
No matter what the country does about the prohibition law but still transactions are smooth.

saifalshamsiadvo

newbie

Activity: 1

Merit: 0

Well said.
In the UAE the authority is thinking to validate crypto license. It's been talk of the town for a long time but still there's no concrete step. But some crypto exchange company already operating full-fledge. In case of crypto legal consultancy in UAE people can learn more from law firms who is offering free legal consultation in Dubai. Saif Al Shamsi Advocates and Legal Consultants is one them providing legal solution for crypto crimes. Visit: https://saifalshamsiadvo.com/ Roll Eyes

noorman0

hero member

Activity: 1764

Merit: 694

[Nope]No hype delivers more than hope

Quote from: Mr.sprin on June 02, 2022, 02:00:49 AM

In my country bitcoin has not been legalized by the government but there are applications for crypto currency transactions that have been taxed for each transaction maybe this is a sign that crypto currency will be legalized by the government.

Very strange, can you be more detailed about the tax, is it a self-report or a tax deduction directly from the application?
In a normal country when you are taxed, there is a legal force that oversees and protects your transactions.

Be careful of applications that act in the name of tax fees but actually dredge your assets in a dark way.

SFR10

legendary

Activity: 2968

Merit: 3406

Crypto Swap Exchange

Quote from: UmerIdrees on June 12, 2022, 01:31:06 AM

Most of the biggest exchanges and mining farms exist in china, so what is this ban all about?

AFAIK, only a small number of miners are still left in China and none of their farms are out in the open ^{[there was an article that mentioned in order to stay under the radar, they had to relocate repeatedly and build underground farms]} and as for exchanges, it seems that most of them have "halted their operations" in China.

UmerIdrees

hero member

Activity: 2226

Merit: 834

Quote from: Despairo on June 09, 2022, 09:52:26 AM

Quote from: bittraffic on June 06, 2022, 05:45:17 AM

If you are from a country that ilegalized BTC then just don't get caught because there are consequences to that.

China bans Bitcoin but they didn't make it illegal for citizens to own right? Many Chinese have tons of BTC, CZ is just one.

No you're wrong, China is ban all of usage of Bitcoin including trading or holding [1] CZ is a Chinese-Canadian person and his nationally is Canadian, so he pretty much follow the Canada laws. Canada didn't ban Bitcoin, they're just really strict about the identity of their citizens.

I never believe in the ban of bitcoin and crypto by the Chinese government. They ban it every year and still bitcoin is mostly used in China. Most of the biggest exchanges and mining farms exist in china, so what is this ban all about?
In fact , the Chinese publish these ban news only to create fud in the market and nothing else.

Despairo

hero member

Activity: 966

Merit: 801

Quote from: bittraffic on June 06, 2022, 05:45:17 AM

If you are from a country that ilegalized BTC then just don't get caught because there are consequences to that.

China bans Bitcoin but they didn't make it illegal for citizens to own right? Many Chinese have tons of BTC, CZ is just one.

No you're wrong, China is ban all of usage of Bitcoin including trading or holding [1] CZ is a Chinese-Canadian person and his nationally is Canadian, so he pretty much follow the Canada laws. Canada didn't ban Bitcoin, they're just really strict about the identity of their citizens.

The thing is, it's not that easy to hide from government to not get caught. Foremost if you ever submitted your identity to any services and they have any track with your IPs, device etc, they can easily know you.

[1] https://www.reuters.com/world/china/china-central-bank-vows-crackdown-cryptocurrency-trading-2021-09-24/

bittraffic

hero member

Activity: 2870

Merit: 612

As much as possible we want everyone to be onboard in crypto so they'd not be behind when all of the rest of the world adopts BTC.
If you are from a country that ilegalized BTC then just don't get caught because there are consequences to that.

China bans Bitcoin but they didn't make it illegal for citizens to own right? Many Chinese have tons of BTC, CZ is just one.

UmerIdrees

hero member

Activity: 2226

Merit: 834

Quote from: Amuls on January 12, 2022, 02:43:58 PM

Some countries don't allow to transect bitcoin or any other crypto currency. This is totally illegal by law in those countries. After invention of bitcoin, A great revolution happened in digital currency. world day by day going to depend on crypto currency for the demand of free currency. If any government of the country ban crypto currency, Still you can transect bitcoin or any other crypto currencies. No one can understand. In this modern world 'Ban' is a valueless word. We are not committing in crime. We just make easy to transect our money.

I don't know which country you are referring to here which bans the crypto and also they will not arrest or take legal action against you if you are found involved in crypto currencies.
Even though it is not ethical or possible to ban crypto, if you are caught using crypto, you will have to face the country's laws for using the illegal mode of payment.

Shadowfine17

newbie

Activity: 1

Merit: 0

Its great

Mr.sprin

full member

Activity: 1414

Merit: 101

In my country bitcoin has not been legalized by the government but there are applications for crypto currency transactions that have been taxed for each transaction maybe this is a sign that crypto currency will be legalized by the government.

ninis45

full member

Activity: 686

Merit: 107

nothing can prevent us from making transactions but if it is illegal we will find a lot of websites related to bitcoin which will be difficult to access but this is not a reason for us to stop using it because we will look for other ways to make transactions because china repeatedly does ban but many of the residents can still do transactions in other ways

milewilda

legendary

Activity: 3094

Merit: 1127

Quote from: yhiaali3 on April 20, 2022, 04:52:47 PM

Yes we are just trying to make things easier, but this does not like governments who consider ease of moving and storing money a punishable crime so you can't own bitcoin in a country that doesn't allow it, you have to keep it in your wallet until it becomes legal or sell it in Another country and you bring paper money to your country, there will come a day sooner or later all governments will accept Bitcoin against their will but until that day we can do nothing illegal at the moment.

Government would always be hating bitcoin or something that in related with anonymity and decentralization which is totally opposing on things that they do really like to see.
As a citizen who do live out on a country which does restrict nor prohibit bitcoin use or crypto as a whole then you wont really be having no options or choice but to deal
with it because they are the ones who do make out laws or rules which means that its better to be safe rather than make yourself caught and be fucked up.
Somehow you could still deal with crypto in anonymous ways which is the pro's on dealing with it, it doesnt need any permission and you could still
make out some involvement.

yhiaali3

legendary

Activity: 1666

Merit: 1836

#SWGT CERTIK Audited

Yes we are just trying to make things easier, but this does not like governments who consider ease of moving and storing money a punishable crime so you can't own bitcoin in a country that doesn't allow it, you have to keep it in your wallet until it becomes legal or sell it in Another country and you bring paper money to your country, there will come a day sooner or later all governments will accept Bitcoin against their will but until that day we can do nothing illegal at the moment.

fara_buduk

full member

Activity: 616

Merit: 100

gik nyareh proyek seteppak pas sepak

any ban will definitely make it difficult for bitcoin and crypto users to make transactions to convert them to fiat because of government blocking of existing services and websites the only way is to convert them into gold or exchange them for dollars and send them to one of the wallets that accept dollars such as paypal with accessing websites or applications from countries that have legalized using a VPN maybe if you still can't ask for help from other people who live in other countries

crypver

newbie

Activity: 10

Merit: 0

Quote from: SFR10 on April 16, 2022, 03:43:51 AM

Quote from: crypver on April 14, 2022, 04:49:29 AM

A crypto owner which lives in a country with a crypto ban, has to convert his coins which he want to sell into something which is legal to sell, like gold.

The conversion part is actually one of the main problems... How can you be sure that you're not going to walk straight into a trap when you're about to sell it in exchange for gold or something else?
^{- In other words, it's easier said than done, and I didn't even include the other issues ^{[e.g. tracking possibilities and etc...]}!}

When you convert your cryptos into gold, the person who is taking your cryptos does not know who you are or about your legal situation. Maybe the exchange (platform you set up the business on) knows, but there are countless offshore exchanges out there that haven't even set up KYCs.

In general:
The conversion of digital Gold <->Crypto and vice versa is common due a crypto-investor can hedge out the risks of cryptos when they tumble. It's faster and more convenient than finding buyers through an exchange who have to pay for your coins by bank transfer/check etc.

Some history:
The idea of converting currencies in digital gold to send it to third parties is not new. The first project of this kind was e-gold.com which was even earlier in operation as Paypal. Today the idea comes up again due the hefty global inflation.

SFR10

legendary

Activity: 2968

Merit: 3406

Crypto Swap Exchange

Quote from: crypver on April 14, 2022, 04:49:29 AM

A crypto owner which lives in a country with a crypto ban, has to convert his coins which he want to sell into something which is legal to sell, like gold.

The conversion part is actually one of the main problems... How can you be sure that you're not going to walk straight into a trap when you're about to sell it in exchange for gold or something else?
^{- In other words, it's easier said than done, and I didn't even include the other issues ^{[e.g. tracking possibilities and etc...]}!}

crypver

newbie

Activity: 10

Merit: 0

Hello,
the solution is easy. A crypto owner which lives in a country with a crypto ban, has to convert his coins which he want to sell into something which is legal to sell, like gold.
This gold can be sold again via bank/ach-transfer or check etc. again to receive fiat-currency.

Is that simple and they are couple to services out there.

jrrsparkles

sr. member

Activity: 2380

Merit: 251

Eloncoin.org - Mars, here we come!

Quote from: Anguwa on March 28, 2022, 05:18:30 PM

Quote from: Amuls on January 12, 2022, 02:43:58 PM

Some countries don't allow to transect bitcoin or any other crypto currency. This is totally illegal by law in those countries. After invention of bitcoin, A great revolution happened in digital currency. world day by day going to depend on crypto currency for the demand of free currency. If any government of the country ban crypto currency, Still you can transect bitcoin or any other crypto currencies. No one can understand. In this modern world 'Ban' is a valueless word. We are not committing in crime. We just make easy to transect our money.

One of the most crucial aspects of being a good citizen of a country, in my opinion, is to be submissive to and follow all of the country's rules and regulations, regardless of your own interests.
Some countries may be able to monitor all cryptocurrency transactions carried out by their residents, therefore it's best not to use or trade cryptocurrencies or Bitcoin if it's not permitted in your country. All we have to do now is persuade the administration to accept it.

Has to be submissive? Everyone have their freedom of speech unless they are living under kings where democracy isn't in practice but on other countries you can express and fight for your rights but as you said violating the laws will be considered as crime so anyone is doing that will be considered as criminal in front of laws but anybody really cares about being good or bad?

Topic: Don't panicked if bitcoin illegal in your country. (Read 791 times)