If crypto is banned in my country | Bitcointalksearch.org

stomachgrowls

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Quote from: jrrsparkles on December 01, 2021, 11:22:29 AM

Quote from: zxr67 on December 01, 2021, 05:50:39 AM

No one can know the total amount of your cripto, only know if the exchanges revelated your identity and this will be iligal becouse protectet laws of identity. This mathers are not so easy like you think.

Hiding our money from government is illegal in most of the country because it is related to tax reporting but when government isn't asking then no need to reveal it that is why developed countries bring regulations and countries who doesn't understand what is bitcoin says that they are banning bitcoin. Tax avoiding is legal and every rich man is doing it so the same goes for crypto earnings when government doesn't have proper guidance for reporting them then the people will take advantage of it.

When it comes to illegal doing then this would be particularly talks about the two because it doesnt matter whether dealing with fiat or crypto.There would be always those people who do hide their assets or simply in correlated with tax. How much more in crypto?

This is why government do really tries to crack out specially on crypto space because they do know that tendency or chances is really high.

And on the time comes where government doesnt really able to control it out then thats the time they would banned it but it doesnt really
make the difference? People could still make out some access if they wanted to.

Insomnia family

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if the bitcoin ban is in your country, then you don't have to bother traveling to other countries just to sell the bitcoins you own. You only need to contact your business partners who are abroad without having to waste travel costs. and i don't think there is anything to worry about for that.

jrrsparkles

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Quote from: zxr67 on December 01, 2021, 05:50:39 AM

No one can know the total amount of your cripto, only know if the exchanges revelated your identity and this will be iligal becouse protectet laws of identity. This mathers are not so easy like you think.

Hiding our money from government is illegal in most of the country because it is related to tax reporting but when government isn't asking then no need to reveal it that is why developed countries bring regulations and countries who doesn't understand what is bitcoin says that they are banning bitcoin. Tax avoiding is legal and every rich man is doing it so the same goes for crypto earnings when government doesn't have proper guidance for reporting them then the people will take advantage of it.

zxr67

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No one can know the total amount of your cripto, only know if the exchanges revelated your identity and this will be iligal becouse protectet laws of identity. This mathers are not so easy like you think.

jrrsparkles

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Quote from: alvipalangka on November 28, 2021, 10:14:29 PM

yes maybe you will understand better if that happens...you can still use your own country's currency without having to think about crypto...because it takes time to adjust your country's regulations....

If you think you can use your country currency and its better than bitcoin then I don't understand the existence of you here, bitcoin is different from the traditional paper bill and Bitcoin cannot be banned by banks. And if they do then it will look like this

alvipalangka

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yes maybe you will understand better if that happens...you can still use your own country's currency without having to think about crypto...because it takes time to adjust your country's regulations....

YOSHIE

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Quote from: KryptoKings on April 03, 2021, 02:15:11 PM

Can I just say that I did some business in foreign country and this is all the profit?.
Anyone has any better suggestions to dispose off my crypto holdings if such situation arises?

You don't need to leave your country, you will be fine as long as there is a community in this forum, you can ask them for help in such problems, if your country bans crypto exchanges.

They can't ban your wallet, your crypto storage, they can only ban access of crypto transactions to fiat through Banks, others don't, so you're still safe to get money from your crypto.

The government can only close exchange access to banks, you can still use the others, there are various ways to do that, besides crypto can be sent to the wallet address you have, even though your country prohibits crypto and money can also be sent via bank to a bank that you are in another country (international) you don't have to worry about it, don't worry, you will be fine.

What can't be done in this world, everything can be done, illegally or legally.

Marykeller

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Very simple and easy. Trading through peer to peer method solves it all. Travelling to another country will take much stress and resources which not everybody can afford it. As for me, personally, will not do that.
Banning crypto in a country can't stop or hinder people from making other means to transact with it in the same country e.g Nigeria and the USA

fortunecrypto

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Quote from: KryptoKings on April 03, 2021, 02:15:11 PM

If in future, crypto is completely banned in my country and holding, trading mining become illegal, can I go to some foreign country on the pretext of doing some job and sell my crypto once I landed in foreign land and come back in my country with all the money?
Will that be considered illegal? How can I move my money back to my country?
Can I just say that I did some business in foreign country and this is all the profit?.
Anyone has any better suggestions to dispose off my crypto holdings if such situation arises?

Going to other countries to trade your Cryptoi is a good idea but coming back with all the huge amount coming from trading is something you have to work on, check your laws and about taxation on the money that you are bringing back, you must make sure that your government will not find the money suspicious, don't go to illegal stuff read the laws of your country you did not mention the amount if it's only a small you can tell them that worked for it in other countries.

NathanielParker

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I personally think that the government cannot completely ban the trading of cryptocurrencies. The Chinese policy is against the side of cryptocurrencies. The Chinese government suppressed mining, banned some encrypted news, and vigorously promoted their own currency. If it really is to ban trading Cryptocurrency China will directly ban the transaction, because it cannot be banned, so the Chinese government can only suppress it.

JillianTaft

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Activity: 135

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If the country publishes a policy prohibiting the possession of cryptocurrency, it may be prohibited to allow crypto-related news on the country’s website, but the country cannot prohibit your crypto transactions, and no one’s transactions will be supervised by the government. Possibly put your tokens in the wallet or conduct transactions.

Tina H

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Activity: 101

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Bitcoin or other cryptocurrencies are illegal in many countries, but it does not affect the use of cryptocurrencies by the people of the country, because it is profitable for a large number of people, and they will not be distracted by the government's prohibition. With cryptocurrency, when some people use cryptocurrency to obtain huge wealth, I can always see that they have many ways to sell cryptocurrency and avoid monitoring by banks or regulators. This involves many illegal industries. I I don't know very well, maybe when you have a huge amount of cryptocurrency property, someone will contact you to help you sell the currency!

trannguyenbtc

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Many governments justify their ban on cryptocurrencies on the grounds that they care about the financial health of their citizens. They believe that people are investing in Bitcoin and thus may lose their savings, since Bitcoin is not a stable asset. But I believe that every person who chooses where to invest their funds should initially study this area of investment and therefore is responsible for his own actions. Based on this, the government should not hide behind caring for people, banning cryptocurrencies. Bitcoin should be a common commodity to buy, like the others, and available to everyone.

Miaallen

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You already stated the perfect and most secured means of getting your money by travelling out of the country which is not illegal. Just that it might take some times if you have huge sum of money in crypto.

Im sure you will be aware of anti money laundry which limits the sum you can move across border.

winone2017

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Quote from: KryptoKings on April 03, 2021, 02:15:11 PM

If in future, crypto is completely banned in my country and holding, trading mining become illegal, can I go to some foreign country on the pretext of doing some job and sell my crypto once I landed in foreign land and come back in my country with all the money?
Will that be considered illegal? How can I move my money back to my country?
Can I just say that I did some business in foreign country and this is all the profit?.
Anyone has any better suggestions to dispose off my crypto holdings if such situation arises?

Since crypto assets can be accessed privately even if they are illegal in your country,
you can sell it in another country and return with the money you have earned as long as the nominal amount of money you carry does not exceed the cash limit of that country.

stomachgrowls

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Quote from: jrrsparkles on June 16, 2021, 08:15:29 AM

Quote from: stomachgrowls on June 15, 2021, 06:41:36 PM

Quote from: passwordnow on June 10, 2021, 05:35:56 AM

Quote from: Kittygalore on June 10, 2021, 05:29:42 AM

The problem is how you are going to explain the money you got when you are back, large amounts of foreign currency in luggage is suspicious and you might be suspected of money laundering or smuggling. Maybe you can do a wire transfer to prevent that but the explanation for the money is another problem.

This is true. That will be questionable if the amount you'll bring altogether is quite huge. I agree about the method if you can do wire transfer or store it on your PayPal account and then do the transfer when you're back in the country and deposit it to your bank account.
Since PayPal transactions are very common today and most countries are aware of the platform and service.

Paypal transactions would suffice but that would only give out gradual minimal transactions rather than sending out bulk amounts of funds directly into your bank account.

Here on my country i had already been questioned out on Paypal funds too as they do make out some annual check on their clients and make out some verification when theres something caught their attention.

I did only make out some big transfer at once and then there was a call next on that and asking for some verification which do really sucks.

Any centralized service will ask such kind of verification when there is sudden activity changes like too much of transactions or too much of amount transacted than normal, so we all have to give the source of those money which really sucks but as long as we want those fiat money then we need to go through all of these.

As if we do have any other choice? When dealing with traditional things then you would really be ending up on following this due process and it sucks actually.You cant totally enjoy it up if they would really be asking
on where those funds came from.

Having lots of money could still make your head ache? thats normal but if your country isnt really much strict when it comes to money laundering or those kind of alerts on where those big funds came from
then your lucky but i do believe that majority will be having the same system when it comes to AMLA.

Cant think for possible ways for this one.

KryptoKings

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Quote from: smyslov on June 19, 2021, 04:25:01 PM

Quote from: KryptoKings on April 03, 2021, 02:15:11 PM

If in future, crypto is completely banned in my country and holding, trading mining become illegal, can I go to some foreign country on the pretext of doing some job and sell my crypto once I landed in foreign land and come back in my country with all the money?
Will that be considered illegal? How can I move my money back to my country?
Can I just say that I did some business in foreign country and this is all the profit?.
Anyone has any better suggestions to dispose off my crypto holdings if such situation arises?

If you are going to do that you have to show something to your government once you are back and that you have done just like that, you can claim that you have invested in Cryptocurrency but you have not done it in your country so they cannot charge you or give you additional taxes, this is very common and it's an issue on people where they cannot trade legally in their own country.

ohh i see!

i would go for the first option were i can sell through p2p. That is far good and it won't incur any significant chargers

smyslov

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Activity: 2030

Merit: 269

Quote from: KryptoKings on April 03, 2021, 02:15:11 PM

If in future, crypto is completely banned in my country and holding, trading mining become illegal, can I go to some foreign country on the pretext of doing some job and sell my crypto once I landed in foreign land and come back in my country with all the money?
Will that be considered illegal? How can I move my money back to my country?
Can I just say that I did some business in foreign country and this is all the profit?.
Anyone has any better suggestions to dispose off my crypto holdings if such situation arises?

If you are going to do that you have to show something to your government once you are back and that you have done just like that, you can claim that you have invested in Cryptocurrency but you have not done it in your country so they cannot charge you or give you additional taxes, this is very common and it's an issue on people where they cannot trade legally in their own country.

cheezcarls

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Activity: 2282

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Looking for gigs

P2P is the best solution for transacting cryptos in case a country bans it from getting implemented by financial services, banks, institutiions, etc. You just need to find a trusted P2P buyer/seller. It’s not also easy to move to another country and live there permanently. You could only if you are employed by that company in your country of destination.

Debit cards from crypto companies may be blocked too, but not sure of that though (even if they have Visa or Mastercard logo).

jrrsparkles

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Quote from: stomachgrowls on June 15, 2021, 06:41:36 PM

Quote from: passwordnow on June 10, 2021, 05:35:56 AM

Quote from: Kittygalore on June 10, 2021, 05:29:42 AM

The problem is how you are going to explain the money you got when you are back, large amounts of foreign currency in luggage is suspicious and you might be suspected of money laundering or smuggling. Maybe you can do a wire transfer to prevent that but the explanation for the money is another problem.

This is true. That will be questionable if the amount you'll bring altogether is quite huge. I agree about the method if you can do wire transfer or store it on your PayPal account and then do the transfer when you're back in the country and deposit it to your bank account.
Since PayPal transactions are very common today and most countries are aware of the platform and service.

Paypal transactions would suffice but that would only give out gradual minimal transactions rather than sending out bulk amounts of funds directly into your bank account.

Here on my country i had already been questioned out on Paypal funds too as they do make out some annual check on their clients and make out some verification when theres something caught their attention.

I did only make out some big transfer at once and then there was a call next on that and asking for some verification which do really sucks.

Any centralized service will ask such kind of verification when there is sudden activity changes like too much of transactions or too much of amount transacted than normal, so we all have to give the source of those money which really sucks but as long as we want those fiat money then we need to go through all of these.

Topic: If crypto is banned in my country (Read 795 times)