Unregulated market is illegal or legal? - page 3.

Mhd-Bobbi

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Quote from: darkangel11 on July 27, 2018, 03:07:34 PM

Everything is legal until the appropriate laws that make it illegal are established. Since the law decides what is and isn't legal, if there are no laws that say BTC can not function without proper regulations it remains legal. You are right thinking that BTC isn't a bank account nor stocks and since your wallet isn't assigned to your name you don't have to inform the government.
I hope that answers your question in full

Yes, I agree with your answer, I think the use of bitcoin is all legal, no one forbids it, but it depends on the government in their respective countries.
For what the government knows if the government does not legalize the use of bitcoin, I think that is not an alternative, but that is a problem in the future. Because in some countries, their government does not legalize the use of bitcoin.

Dirk2017

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It will depend of every government on how they will treat the existence of unregulated market but mostly they will declared it legal but it will be regulated to ensure that it will help the economy rather than destroying it. Here in my country, the government stand neutral but maybe they are just observing it until they will regulated it to be a legal.

Argoo

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Quote from: Flashstein on July 27, 2018, 11:46:12 AM

Comming from a 3rd world country, many opinions around but not certain. The country gov. doesn't have official statement about crypto. There is a law that you cannot own a bank account abroad and that you can't own stocks outside of the contry. But i think crypto doesn't fit into stocks sector. What are your oppinions?

Cryptocurrency is not a bank account abroad and no shares. If the cryptocurrency is not regulated by the states, then as a general rule, it can be called a legitimate activity. According to the laws of most states, any business is considered legal if there is no special prohibition against it.

zahed

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Quote from: jhongzjhong on July 28, 2018, 11:22:45 AM

Yes definitely, that is not illegal but not also legal. You know why? Because the government has nothing to do with cryptocurrency whether they regulate but still bitcoin has functional the reason is no one blame or no one behind in bitcoin currency.
Since they know that it is helpful to the economic growth and having a chance to contribute to the economic growth, governments now keep quite on this crypto world.

Crypto is contribute to growing in economical growth you can't assuring 100%, because you know that crypto is a unstable currency like bubble but this is not my conception. Without illegal declaration it will neutral condition i think.

Brasch

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zahed

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In crypto illegal countries government thinking against cryptocurrencies so also law is working in against. You can't hold crypto in any bank because crypto is not supported how you can stoke in banks or others vendor.

Patient_Zero

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Quote from: hugeblack on July 28, 2018, 08:02:16 AM

To be criminalized in financial cases, there must be an exception in the law that criminalizes dealing with bitcoin and imposes penalties for anyone who trades using these currencies.
Based on the above,Bitcoin is not defined in your law. This means that you can not be legally criminalized.
But this does not mean that you are safe where there can be a law that prohibits the use of your local currency in any transfers outside the banking system
Ask a lawyer if you want to create a work "company/ business" based on cryptos/bitcoin.

I have never heard that bitcoin violates the law, in a country that rejects bitcoin we can still exchange bitcoin in legalized countries, and we can transfer to local banks and local currency, so we don't violate any laws, I don't think we are a problem, we can always trade in bitcoin currencies.

Aramazdi

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Quote from: LyQaN on July 28, 2018, 10:37:30 AM

The word unregulated doesn't means illegal.If something is not under the control of government it does not means that it is illegal.Let us talk about crypto's.In many countries it is not legal as well as illegal but still many exchanges are working with it and people are using it.So unregulated market is neither legal nor illegal.

the market cannot be regulated by any country, market law is as long as there is still demand, it can be ascertained that buying and selling bitcoin will always be there, and bitcoin is not a violation of the law so buying and selling bitcoin wherever I feel is not a problem because the system is online with the bank, indeed many countries do not want to recognize bitcoin but they even want to apply taxes so that bitcoin will always be in the trade.

DavidNiva

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Quote from: LyQaN on July 28, 2018, 10:37:30 AM

The word unregulated doesn't means illegal.If something is not under the control of government it does not means that it is illegal.Let us talk about crypto's.In many countries it is not legal as well as illegal but still many exchanges are working with it and people are using it.So unregulated market is neither legal nor illegal.

Bitcoin is a digital currency and clearly does not violate the law, so its status is not prohibited but many countries that forbid or reject do not mean that Bitcoin cannot be sold and still can, because the Bitcoin purchase system uses an online system so that Bitcoin can be legal and not prohibited .

coldplay3r30

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Quote from: Flashstein on July 27, 2018, 11:46:12 AM

Comming from a 3rd world country, many opinions around but not certain. The country gov. doesn't have official statement about crypto. There is a law that you cannot own a bank account abroad and that you can't own stocks outside of the contry. But i think crypto doesn't fit into stocks sector. What are your oppinions?

indeed krypto cannot be equated with shares, obviously very different shares are more indifinual in nature of a business entity or a company while krypro is clearly a currency so it can be owned and can be used as a medium of exchange, if in developing countries krypto is still categorized as an asset not legal means of exchange, but other things in developed countries, krypto is commonly used to carry out buying and selling activities.

oliver10

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Quote from: maarx on November 02, 2018, 03:20:27 PM

Quote from: Flashstein on July 27, 2018, 11:46:12 AM

Comming from a 3rd world country, many opinions around but not certain. The country gov. doesn't have official statement about crypto. There is a law that you cannot own a bank account abroad and that you can't own stocks outside of the contry. But i think crypto doesn't fit into stocks sector. What are your oppinions?

Market alone does not make a coin to legal or illegal. It depends on the leaders who lead the countries.

We can see 3 types of views of each countries would possibly made.

- Positive
-Negative
-Neutral

But on general aspect each thing that doesn't fit on governments criteria would have big chances to be treated as illegal but as of now
most of them are on neutral side yet blockchain tech is really hard to ignore to be a such good innovation.

deppil

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Quote from: cryptocity90 on August 11, 2018, 08:30:19 AM

Keep your bitcoin in a cold wallet where no one will ever know that you have it.Luckily in my country, it is unregulated but it doesn't mean it is illegal.

Thats right. unregulation does not mean illegal because many countries today have not given any response to the development of
crypto in their country. so that many people in that country are still free to use bitcoin.

maarx

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cloverdex.io

Quote from: Flashstein on July 27, 2018, 11:46:12 AM

Comming from a 3rd world country, many opinions around but not certain. The country gov. doesn't have official statement about crypto. There is a law that you cannot own a bank account abroad and that you can't own stocks outside of the contry. But i think crypto doesn't fit into stocks sector. What are your oppinions?

Market alone does not make a coin to legal or illegal. It depends on the leaders who lead the countries.

fuding12

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Yes, I think Crypto doesn't fit into the stock sector, and I think, when the government hasn't issued an official statement regarding crypto legality, then you can use that opportunity to continue to be active in the crypto market. Broadly speaking, it is not illegal because the government does not prohibit it.

KorakPawon

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I agree with that. Bitcoin isn't fit to be a stock sector and it's also doesn't need to be regulated by government, because unregulated doesn't mean it's illegal. As we know that crypto hasn't been accepted, yet it isn't banned but still the system of bitcoin and other crypto working well. Yet, government hasn't consider the law for bitcoin because they have nothing to do with bitcoin.

Spaffin

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Quote from: Flashstein on July 27, 2018, 11:46:12 AM

Comming from a 3rd world country, many opinions around but not certain. The country gov. doesn't have official statement about crypto. There is a law that you cannot own a bank account abroad and that you can't own stocks outside of the contry. But i think crypto doesn't fit into stocks sector. What are your oppinions?

I think that you can easily practice cryptocurrency in your country. If you go to exchanges and exchangers in other countries and at the same time create an account there for conducting cryptocurrency transactions, this is not considered a bank account, since exchanges and exchangers are not banking institutions.
In addition, cryptocurrency does not apply to stocks, in any case, to recognize cryptocurrency securities, you need the regulation of cryptocurrency by your state. And you write that cryptocurrency is not yet legalized in your country.

coldplay3r30

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Quote from: Flashstein on July 27, 2018, 11:46:12 AM

Comming from a 3rd world country, many opinions around but not certain. The country gov. doesn't have official statement about crypto. There is a law that you cannot own a bank account abroad and that you can't own stocks outside of the contry. But i think crypto doesn't fit into stocks sector. What are your oppinions?

in countries that do not recognize crypto currency as a medium of exchange, for example, bitcoin is prohibited from exchanging directly but there are still many governments that recognize bitcoin as a deposit

so bitcoin ownership outside my country is legitimate, because the government cannot prohibit its citizens to save their money where they want, and very many third world people save money at bank banks in developed countries because they feel safer.

Andrew S

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In some countries there is still a ban on selling crypto currency, but I think it will not be long.

NavI_027

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I also live in a third world country (unfortunately) and my answer to your question is in between — not illegal nor legal (just my opinion only). Here in our country, there's no concrete law which says that usage of cryptocurency is ban/illegal. That's the reason why we can still be able to engage with it freely, we have no fear simply becuse we're clear from any violations. I just appreciate the fact that our government was not too strict but also still concern for crypto investors like since they are always giving warnings and advisories before using this.

Furthermore, if you think that you can easily escape punishments assuming that you do crime stuffs using crypto like pyrammiding scams or extortion then think again. Our Republic Act 10175 also known as Cybercrine prevention Act is our solution for that.

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