Topic: What it actually meant by Ban? - page 4. (Read 703 times)
It depends on their perception about bitcoin. Maybe they're just afraid the risk that it could be used to fund crime or illicit terrorist activity — another reason is that it can be a route to circumvent capital controls. That is why they prefer to remove this one.
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 (law)-a decree that prohibits something,sometimes a form of censorship,being denied from interring or using the place. What will happen in case of trading bitcoin in country where bitcoin is banned?
It is better to stay away from bitcoin transactions if your country have such restriction.
every country has rules and regulations governing its affairs. if bitcoin is banned in a country and the activities of the citizens of the country is being monitored, then your IP address can be flagged when ever you are carrying out a BTC transaction but other than that, no one can possibly know you are in possession of bitcoin if you do not go talking about it
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?
It could happen if the country has such a regulation. In my country transactions with bitcoin are not allowed, but legalized bitcoin as virtual digital assets.What will happen in case of trading bitcoin in country where bitcoin is banned?
Please don't panic. you can transact in international markets such as bittrex, poloniex, cryptopia
In my country bitcoin is banned
Where do you live? 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?
prevent accounts from being used for fraud or other factors that can be prevented by certain mederator policies What will happen in case of trading bitcoin in country where bitcoin is banned?
In my country bitcoin is banned
For now 90% of bitcoin must be exchanged to fiat currency in order to finally use it to pay for goods and services. The banning is very effective at the point of exchanging it to fiat currency.
Yes it is wise decision when your country ban the crypto activities.
In simple words, a ban is something that restricts you from buying and selling cryptocurrencies using fiat currency. Still, you are free to use cryptocurrency to pay your bills if the other party is willing to accept it. There is no law prohibits you from using cryptocurrencies. However, if you are using it for illegitimate activities then you will be labelled as criminal and government have full rights to punish you with imprisonment for the same. Bitcoin is not illegal, using Bitcoin (or anything) for illegal activities is illegal.
For now 90% of bitcoin must be exchanged to fiat currency in order to finally use it to pay for goods and services. The banning is very effective at the point of exchanging it to fiat currency.
Then it is better to go with International exchangers rather than locally operated exchanger. Local exchangers may share your KYC with authorities when ever they require.
In most instances the media are using the word "Ban" because it sells newspapers. Let's take India for instance, where the governments announced that Banks should not do business with Crypto currency exchanges. They did not say that Bitcoin or any other Crypto currency is illegal, nor did they say that people will be arrested if they were caught trading Crypto currencies.
A blanket Ban on Bitcoin will forbid people to own/trade Bitcoin and specific laws will be made to prosecute people, if they broke these laws.
Some countries will say Bitcoin is not allowed to be accepted as a legal tender/currency, but you are still allowed to trade it as a commodity.
A blanket Ban on Bitcoin will forbid people to own/trade Bitcoin and specific laws will be made to prosecute people, if they broke these laws.
Some countries will say Bitcoin is not allowed to be accepted as a legal tender/currency, but you are still allowed to trade it as a commodity.
For now 90% of bitcoin must be exchanged to fiat currency in order to finally use it to pay for goods and services. The banning is very effective at the point of exchanging it to fiat currency.
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 think no your not going in jail or any punishment because you holding bitcoin it is crypto currencies how they know that you had a bitcoin they can't monitor of who holding bitcoin in every country..
In this regarded we need to look and the legal regulations is that country completely .for all I can tell is the BTC keep a bitcoin wallet its almost impossible for any state to identity you.im an early supporter of a BTC or any crypto money on a stock exchange and it also shares saying information with the government of that country .while having a problem with it for example the state can not be able to prove that its a bitcoin core wallet itself .but as I saying that the start we will have to look at the content of a legal regulations. If you share the law text in English we can also evaluate it but if you say it as a hypothesis it does not make any sense what I can say .
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, you may be guilty if you live in a country where bitcoin is banned because there is a policy that they do not have the bitcoin in their country without a bitcoin if you know that there is no bitcoin because they have the ordinance that they are banned by bitcoin You know what their rules do not do better than jail.
"Ban" has a certain legal definition and other sections can be linked with this definition. So in your legal framework, if there is a punish defined for handling banned material or providing/receiving banned service, then probably yes! However, it is not easy to detect if someone is using bitcoin for his personal use or trade anonymously. But if you are caught using bitcoin openly in a country where bitcoin is legally banned, then you will be the punishment based on the degree of your offence. That can be a monetary penalty or imprisonment as well. But these are entirely country specific.
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?
it depends on the country and whether "ban" means what it really means not just a fake usage of the word to scare newbies.
for example they say bitcoin is banned in Bangladesh. so yeah if you use bitcoin there, there is a jail-time waiting for you.
but they also say bitcoin is banned in China, India, Russia and so many other countries. there is no reality to that. there are some restrictions, regulations,.... in each of these countries which the FUDsters called "ban". the fact is people are still using bitcoin in all these countries without a problem since there were no actual ban.
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?
it is depends on the regulations in that country. it can be jailed or fined or something.
but i don't know the details because fortunately in my country holding bitcoin is allowed.
As I understand, people are safe until they are using it online in banned country. Problem occurred only if you are dealing it locally.
Not really, people can still be safe if they want to use bitcoin online make sure you have a vpn. It's hard to trace every person who has bitcoin in the country because they could've sold the whole wallet including the private key. If they know that you're using bitcoin you can mix your bitcoins to hide your trails and they won't know which one is yours. Locally, everyone can still transact with bitcoin even if there's a ban in your country whether it's online or offline you don't have to announce publicly that you're using bitcoin. The only problem is that you have limited options when cashing in/out with bitcoins. I've encountered a user before where he gambles with bitcoin and told me that bitcoin is illegal in his country but he still uses it.
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