Topic: What are Legal Risks in Crypto World ? (Read 295 times)
There are many legal risks you can often face. If you invest in a fraudulent company, you will have quite serious legal consequences. Or transferring fiat money to buy cryptocurrencies via banks in large quantities is likely to be checked by law
Legal risks will always be there unless there is created a global preferably decentralized crypto regulator agency that regulate all things related to crypto and may include icos/ieos, exchanges, mining, staking etc and they should have the power to blacklist or ban a project plus they should only allow high quality transparent projects to raise funds as icos. Untill we have global concensus about legalization of crypto at government level we will still be facing legal risks but i think most countries will sort that out in next 2 to 3 years.
That is because not all people affiliated with crypto that much maybe there are still some percentage where places are not so familiae or used to it though the adoption is growing thicker. In my country it's well known but the use cases isn't booming yet.
Cryptocurrency use cases will be increasing more and more, increasing their number exponentially. in 10-15 years, cryptocurrency can be used almost everywhere and it doesn't need any legalization will be needed for this. Just continue to believe in cryptocurrency and we will wait for mass use cases.Yes that's right because cryptocurrencies are slowly moving inside the people in the every country. There are too much of negativity over the people and we are looking such things to be vanished.
We are required to improve the value of the crypto space and awareness among the newbies to improve and expect legalization.
That is because not all people affiliated with crypto that much maybe there are still some percentage where places are not so familiae or used to it though the adoption is growing thicker. In my country it's well known but the use cases isn't booming yet.
Cryptocurrency use cases will be increasing more and more, increasing their number exponentially. in 10-15 years, cryptocurrency can be used almost everywhere and it doesn't need any legalization will be needed for this. Just continue to believe in cryptocurrency and we will wait for mass use cases. So many countries of the world, in fact, most do not have legal backing yet to cover for the risks of investors from their jurisdictions. Sometimes, they might decide to add some penalties to it, but that won't happen though. Let's be realistic about it. Which means that, your investment for now is at your own risk, with no legal backing.
Legal backing would have been there but the real issue is that governments basically don’t want people to enjoy extreme financial freedom. As far as risking your money is concerned, there are so many businesses where despite of legal backing people are losing their money because of corrupt systems. At least in the world of crypto, there is no corruption by government officials. 
So many countries of the world, in fact, most do not have legal backing yet to cover for the risks of investors from their jurisdictions. Sometimes, they might decide to add some penalties to it, but that won't happen though. Let's be realistic about it. Which means that, your investment for now is at your own risk, with no legal backing.
Legal backing would have been there but the real issue is that governments basically don’t want people to enjoy extreme financial freedom. As far as risking your money is concerned, there are so many businesses where despite of legal backing people are losing their money because of corrupt systems. At least in the world of crypto, there is no corruption by government officials.
So many countries of the world, in fact, most do not have legal backing yet to cover for the risks of investors from their jurisdictions. Sometimes, they might decide to add some penalties to it, but that won't happen though. Let's be realistic about it. Which means that, your investment for now is at your own risk, with no legal backing.
Legal risks? These are mostly just the regulations and definitions around ICOs in my opinion most of the time.
That is of course given the fact that your country actually allows BTC usage, because if they don't, then that is obviously your primary worry before anything else.
But anyhow, we've seen how hostile regulators and policymakers have been towards BTC and that attitude is hard to change. And with the vague rules in place everywhere it's tough to navigate yoruself around them for sure.
That is of course given the fact that your country actually allows BTC usage, because if they don't, then that is obviously your primary worry before anything else.
But anyhow, we've seen how hostile regulators and policymakers have been towards BTC and that attitude is hard to change. And with the vague rules in place everywhere it's tough to navigate yoruself around them for sure.
Personally, I believe that people who invest in cryptocurrency are very at risk for legal activities. Since at the moment a legal document has not yet been created that can fully guarantee the security of this digital currency. And now the task ahead is to create a legal document that is suitable for all countries and all investors can use this document.
The reason for this is that it is difficult to find a balance between regulations and maintaining the anonymity and confidentiality of cryptocurrency. As long as people still can't resolve this, there won't be a global rule for owning cryptocurrency and other countries will still ban them. Each country has their own thing so if you're not careful enough, you might face some issues soon.
Although crypto is still illegal in most places today but can still be used. Acceptaning it legally by governments will only help someones remain at peace with the crypto. The cryptocurrency was not created for governments to accept, on the contrary "original" cryptocurrencies exist to support our economic freedom. But we still have not learned how to behave it.
Unfortunately for all of us, governments do not decide on the same thing together, all of them have their own version of laws and bitcoin (or crypto in general) is not decided on a table but more on governmental discussions.
So, while USA may see it as an asset, Cyrus may see it as a currency and Bangladesh could see it as item and some other nation could see it as something totally different. Long story short if we want to get bitcoin on the same page all over the world we need to lobby for it but unfortunately bitcoin is the money of the poor and whales of crypto already don't care about it so the poor and unimportant thousands can't make any sort of decision at all or can't be influencing any sort of decision made by the politicians.
So, while USA may see it as an asset, Cyrus may see it as a currency and Bangladesh could see it as item and some other nation could see it as something totally different. Long story short if we want to get bitcoin on the same page all over the world we need to lobby for it but unfortunately bitcoin is the money of the poor and whales of crypto already don't care about it so the poor and unimportant thousands can't make any sort of decision at all or can't be influencing any sort of decision made by the politicians.
No such thing as legal risk in crypto world yet and i don't think there will ever be such, buying and selling of crypto will always be risky so do your research if you don't want to be a victim
It is difficult to make crypto a currency because many interests will be disrupted. The central bank is one of the parties whose existence will be disrupted if the Government regulates crypto as a currency. By law, I think cryptocurrency will be a digital asset because it is still in limited trading and not many people are familiar with crypto
Clear legal risk that every person who has cryptocurrency assets must provide a complete identity, that's for sure.
The problem is there are some people who really don't want their identities to be known because they honestly don't want the cryptocurrency cycle to be controlled by the government.
Once cryptocurrency is controlled by the government, there will be a monopoly in the cryptocurrency market. That is for sure.
The problem is there are some people who really don't want their identities to be known because they honestly don't want the cryptocurrency cycle to be controlled by the government.
Once cryptocurrency is controlled by the government, there will be a monopoly in the cryptocurrency market. That is for sure.
That is because not all people affiliated with crypto that much maybe there are still some percentage where places are not so familiae or used to it though the adoption is growing thicker. In my country it's well known but the use cases isn't booming yet.
I think there is a legal risk or not, it depends on government policy. if a country legalizes cryptocurrency as an investment and trade tool then we will not get legal risk if we trade crypto. but if a country does not allow its citizens to trade crypto. then of course he will get the penalty if he violates this rule. and also if we use crypto for crime then we also get punished.
In my country, I am still in the junction of the legality of this crypto, although some markets that have registered their project to the financial body to legalize it. But in society is still low and odd and partially looked at Crypto as a means of ordinary investment.
Together with the explosion of interest in the digital currency and all its implications for new and traditional companies, the legal impact of these new technologies and currencies needs to be made clearer. Given that governments around the world, regulatory agencies, central banks, and other financial institutions work to understand the nature and significance of digital money, individual investors can invest in this new environment. On the other hand, when buying and selling cryptocurrencies, investors assume certain legal risks.
Although digital currency is easy to confuse for traditional electronic money, this is not the same; similarly, as it is not physically owned and carried between parties, it is unlike conventional cash currencies. The fact that space has only been popular recently in comparison to more conventional currency and payment systems is part of the uncertainty of the legal status of the digital currency. Below, we will discuss some of the new legal ramifications of cryptocurrency investment.
Cryptocurrencies as Property
How the central government views cryptocurrency investments is a vital legal concern for any cryptocurrency investor. In the United States, the IRS has described cryptocurrencies not as currencies but as assets
Read more DoggBitCoin.Com
What is your thought about Legal Risks in Cryptocurrency ?
I am just worried that in the future there will be regulations regarding the violation of the use of cryptocurrency in my country, maybe until now we can still relax because the legality of cryptocurrency 60:40 is 60 that rejects the existence of cryptocurrency and 40 that agrees to cryptocurrency. All I do is go through and be ready whatever the decision and the worst possible. Although digital currency is easy to confuse for traditional electronic money, this is not the same; similarly, as it is not physically owned and carried between parties, it is unlike conventional cash currencies. The fact that space has only been popular recently in comparison to more conventional currency and payment systems is part of the uncertainty of the legal status of the digital currency. Below, we will discuss some of the new legal ramifications of cryptocurrency investment.
Cryptocurrencies as Property
How the central government views cryptocurrency investments is a vital legal concern for any cryptocurrency investor. In the United States, the IRS has described cryptocurrencies not as currencies but as assets
Read more DoggBitCoin.Com
What is your thought about Legal Risks in Cryptocurrency ?
Together with the explosion of interest in the digital currency and all its implications for new and traditional companies, the legal impact of these new technologies and currencies needs to be made clearer. Given that governments around the world, regulatory agencies, central banks, and other financial institutions work to understand the nature and significance of digital money, individual investors can invest in this new environment. On the other hand, when buying and selling cryptocurrencies, investors assume certain legal risks.
Although digital currency is easy to confuse for traditional electronic money, this is not the same; similarly, as it is not physically owned and carried between parties, it is unlike conventional cash currencies. The fact that space has only been popular recently in comparison to more conventional currency and payment systems is part of the uncertainty of the legal status of the digital currency. Below, we will discuss some of the new legal ramifications of cryptocurrency investment.
Cryptocurrencies as Property
How the central government views cryptocurrency investments is a vital legal concern for any cryptocurrency investor. In the United States, the IRS has described cryptocurrencies not as currencies but as assets
Read more DoggBitCoin.Com
What is your thought about Legal Risks in Cryptocurrency ?
Currently in most of the countries of Western world there are no legal risks associated with bitcoin. It's because these countries Haven't explicitly stated bitcoin illegal. So as far as you are using bitcoin for legal activities you are absolutely safe. But the problem is in some asian and African countries like Bangladesh where there is strict warning against bitcoin and government has banned them. Until now there is no such instance but someone can be prosecuted merely for using Cryptocurrencies therefore such currencies do have some legal risks involved. Although digital currency is easy to confuse for traditional electronic money, this is not the same; similarly, as it is not physically owned and carried between parties, it is unlike conventional cash currencies. The fact that space has only been popular recently in comparison to more conventional currency and payment systems is part of the uncertainty of the legal status of the digital currency. Below, we will discuss some of the new legal ramifications of cryptocurrency investment.
Cryptocurrencies as Property
How the central government views cryptocurrency investments is a vital legal concern for any cryptocurrency investor. In the United States, the IRS has described cryptocurrencies not as currencies but as assets
Read more DoggBitCoin.Com
What is your thought about Legal Risks in Cryptocurrency ?
The reason why all local wallet in bitcoin in which country we reside is usually implementing KYC/AML verification to every user. This is considered legal but the risk to us as a crypto enthusiast is exposing our identity in the crypto world and those who we trust our personal identity. Nevertheless, we can be considered crypto investing itself is also very risky if you don't understand. And also taking a right to face the risk is a way road to success.
Jump to: