Topic: What it actually meant by Ban? (Read 727 times)
Cryptocurreny is inbuilt with the fact that you are not detected or governed by anyone as you probably know that it's secure as well as not looked after by anyone. In terms of holding crypto in any exchange, you probably submit your KYC (meaning Know your Customer), where you submit your personal information including ID as well as your identity. There are certain rules and regulations according to individual countries, some banned crypto while some are gladly accepting blockchain to make industry secure as well as more technical. If you are holding crypto in your exchanges you are more threatened to be detected by the Government which either results in permanent block/ban or even as rules can put you behind the bars.
All that I know is that if you were banned you can't use any of your accounts because your IP are banned.
Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?
What will happen in case of trading bitcoin in country where bitcoin is banned?
Well, i think ban means cannot be used. for example if your country banning bitcoin, you wont be able to use bitcoin.
Either buy/sell or trade, you won't be able to do that with bitcoin. It must be a security reason, they cannot know the owner of bitcoin, because everyone can make bitcoin wallet without their identity.
Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?
The meaning of the word BAN is to illegalized something . It is against the law , if someone will still on it then therefore it should be punished by the law . What will happen in case of trading bitcoin in country where bitcoin is banned?
Just like your thought, if your country prohibits Bitcoin you should abide by the law, there are some countries that only prohibit bitcoin transactions, but it allows us to have bitcoin as an asset. If the country forbids us even the ownership. Then, the risk depends on the law of the country.
was unlikely such events, the legal framework and practices yet. if such an event happens, it will immediately become known
Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?
What will happen in case of trading bitcoin in country where bitcoin is banned?
Yes it can be. If the regulations about bitcoin in some country very strict, the offender can sent to jail.
I think trading is ok. But you must find other exchange than your country exchange if they ban bitcoin.
Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?
What will happen in case of trading bitcoin in country where bitcoin is banned?
Ban in crypto terms it means not allowing people to participate in trading, bounty campaign or any activities organized, it is also refers to a country of not allowing cryptocurrency to enter in their jurisdiction.
Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?
What will happen in case of trading bitcoin in country where bitcoin is banned?
i don't really know because my country is not banning bitcoin, but i think ban mean you cannot using it.
i mean you cannot using or holding bitcoin with their knowledge, but you can still use it if they don't know you.
Ban means that you are not capable of using it because they have blocked all of the resources that you could have to earn or to use bitcoin. Too sad if you have a very close minded government, because that would prevent you guys to make wealth through bitcoin. But if you really wanted to earn bitcoin, go to other countries where it is legal like in Japan or wherever the closest place in your home.
Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?
What will happen in case of trading bitcoin in country where bitcoin is banned?
To ban means to make or state something that it will never be shown and used. This is being conducted and implemented by governent.
Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?
Ban is something like complete inhibition of use of something and I think bitcoin could never be banned. Bitcoin is very volatile, versatile and sustainable crypto currency and most important it is decentralised crypto currency and no country can ban it , only country can inhibit the use of bitcoin or any other crypto currency in their nation only, there is no offence in holding bitcoin and yes the person will not send to jail if he owns bitcoin, he can use international exchange with ease. What will happen in case of trading bitcoin in country where bitcoin is banned?
Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?
What will happen in case of trading bitcoin in country where bitcoin is banned?
there may be a different rules and regulations in each country pertaining to cryptocurrencies.
and as a responsible citizen we must abide by it.
if your country tells you to stop holding cryptocurrency then so be it.
.
luckily in our country there isn't a regulation yet that prevents us from accumulating crypto.
but if ever there is one then i guess i will be having no choice but to stay away from it whilst not committing something illegal.
Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?
What will happen in case of trading bitcoin in country where bitcoin is banned?
i don't really know because my country is not banning bitcoin, but i think ban mean you cannot using it.
i mean you cannot using or holding bitcoin with their knowledge, but you can still use it if they don't know you.
it could happen if bitcoin is indeed really prohibited in that country, for example in Indonesia there is a law that prohibits bitcoin, of course that prohibits the law will be arrested
Currently, countries that claim to ban the use of cryptocurrencies did so by verbal means. If there are laws backing the ban then the fate of such a culprit can only be decided by the laws and regulation. I my country bitcoin is not used as a means of exchange but its been stated that investing in bitcoin is very risky and anyone who ventures do so at his/her own risk.
Banning is the concept of giving restrictions in a curtained field. Once the bitcoin or any cryptos are banned by the government they will be no longer can operate on that country through the governance of law.
According to me, the prohibition means that the restriction on the sale of coins can not be used in that country anymore, That means using the coin in that country is a punishable offense. Its exchange, usage, payment and transactions will remain completely inaccessible.
Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?
I think if any country banned bitcoin it automatically mean that all citizens or any response in that country will be unable to access bitcoin from that country, I think that is the only punishment asign to it. What will happen in case of trading bitcoin in country where bitcoin is banned?
Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?
well they can ise vpn to overuled banning of their country to bitcoin more on process but can still earn money. however if you were not knowledgeable of that you cannot get your coins. What will happen in case of trading bitcoin in country where bitcoin is banned?
There are other countries that are very strict about bitcoin because these countries believe that these virtual currencies for example bitcoin are bringing about a financial instability in their country. I cannot say that there is no possibilities that you will get caught if you are a user of bitcoin on that country because each country has their own regulations, for example in the Brazil they banned all forms of crypto currency using bitcoin in banned countries can led you in trouble, but tracing bitcoin users is hard to track.
On the other hand there will be a few options for you to cash out, but for you safety just play safe.
On the other hand there will be a few options for you to cash out, but for you safety just play safe.
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