Topic: What it actually meant by Ban? (Read 728 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.
I think Ban has certain legal definition and other sections can be linked with this definition .So in your legal framework ,if there is a punish defined for handing banned material or providing banned services ,it is not easy to detect if someone is using bitcoin for his personal use or tread anonymously.
The rules depend in your country if they banned bitcoin but still accept payment using bitcoin or proscribe the used of bitcoin. There is a chance that you may be punished, pay penalty fee or can be sent to jail of you're caught or proven that you used bitcoin when they banned bitcoin in your country. If your country banned bitcoin it is better to follow the rules or suffer the consequence of your actions.
can not understand
Ban means to forbid the use, performance, or distribution of any bitcoin or crytpcurrencies in your country. But this depends to the rules of the law that your country abide since we do have a different legal rules. If your country law says that anyone caught using, selling or trading bitcoin will be sent to jail or will be punish it really depends or they will pay a penalty fee. If ever your country banned bitcoin just follow the rules.
I think for it to be in full state regulation, because every country has different legal rules, but if it is not used for negative things I think it will not happen.
If your country banned the used of bitcoin it means that it prohibits you to trade, sell or exchange your bitcoin. But it usually depends on how the rules imply in your country since every country has a different legal rules. It may send you to jail or being punished if you are caught using or trading bitcoin.
It depends on what country you're in of course every country has different Regulations. But no one knows you're holding bitcoin maybe you're talking about banned as a payment or your country doesn't recognize bitcoin
Actually if we are talking about ban it is means that something being prohibited to use or totally unaccepted in all means. But this will strongly depends of the laws provided by each areas or countries where we belong. But to tell the truth crypto's existence in our country has everyone freedom to use it properly.
it actually means that some governments are not endorcing the usage of bitcoin, but it is just happening on a few countries at the moment, like the US, russia, china.
I think for it to be in full state regulation, because every country has different legal rules, but if it is not used for negative things I think it will not happen.
I think its hard to identify who own bitcoin right now. Bitcoin owner is anonymous and as far i know government can identify it. Recently SEC issuing announcement that bitcoin is not security and i think owning bitcoin is not a crime
:)In this respected we have to look and the legitimate controls is that nation completely .for whatever I can tell is the BTC keep a bitcoin wallet its by and large amazing for any state to character you.im an early supporter of a BTC or any crypto cash on a stock trade and it correspondingly shares saying data with the association of that nation .while having an issue with it for instance the state can not be able to show that its a bitcoin center wallet itself .yet as I saying that the begin we should take a gander at the substance of a true blue direction. On the off chance that you share the law message in English we can in like way assess it yet in the event that you say it as a theory it doesn't look great what I can state . 
If in your country bitcoin is strictly prohibited and banned for sure theres a punishment to those who disobeyed.We live in different country and we have different rules.So you might go to jail if someone finds you out that you are a bitcoin holder or might just pay and etc.Just be careful in all your actions or you might end up regreting 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?
What will happen in case of trading bitcoin in country where bitcoin is banned?
If someone is holding a bitcoin in a banned country, the punishment depends on what rules that country has. When a bitcoin is banned in a country, it doesnt necessarily mean that the holder of it will go to jail if proven, it means a holder cannot use these coins for payment or transaction because they are not allowed to. But if one has a bitcoin, I dont think we need to worry about it even if we are in a country that bans it because our identity is hidden and anonymous.
I think Ban has certain legal definition and other sections can be linked with this definition .So in your legal framework ,if there is a punish defined for handing banned material or providing banned services ,it is not easy to detect if someone is using bitcoin for his personal use or tread anonymously.
It's almost impossible for any state to identify you. But if you are holding a BTC or any crypt money on a stock exchange and it also shares your information with the government of that country, you may have a problem with this. For example, the state can not prove that you own the Bitcoin Core wallet
It depends on what country you're in of course every country has different Regulations. But no one knows you're holding bitcoin maybe you're talking about banned as a payment or your country doesn't recognize 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?
A ban is a formal or informal prohibition of something. If your country banned the use of crypto currencies, then you can't make any transactions or exchanges using cryptos in that country. If you are trying to overcome the law illegally, you have to suffer for that. There may be chance for getting punished or prisoned. What will happen in case of trading bitcoin in country where bitcoin is banned?
can not understand
its back into your policy with your country, maybe they will put you into a jail but maybe you will punish by confiscated your bitcoin and i dont know about it i hope that policy that in your country is not put the holder of bitocin into a jail. or maybe if you hold bitcoin in a forbidden country, you will be fined
Can someone be punished or sent to jail just by holding bitcoin in banned country?
This case depends on the decision of a country, if they (government) consider everything about bitcoin is something that is illegal then inevitably bitcoin users in the country must accept the consequences. Bitcoin is indeed freely owned by everyone, but users should be aware of where they live, there is a government that will manage all the life of a person.What will happen in case of trading bitcoin in country where bitcoin is banned?
In fact, there are some countries that prohibit the use of bitcoin only as a payment system. Some countries allow bitcoin users to trade with their records (the government) does not have the authority to manage and be responsible for any risks to be faced.
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 do not think that as you say, every country has different jurisdictions about the prohibition and the type of law. especially on crypto and bitcoin. not true if someone has bitcoin will be in jail if not criminal act.
I think 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.
I think if your country banned bitcoin it means there is no way you can have an exchange or any transaction is prohibited like paying of goods and services. In depends on a certain countries that banned bitcoin if the caught you using or trading bitcoin you will be sent in jail. So in my opinion better hold your bitcoin or store it in a hardware wallet then trade it if your country legalize 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?
The scope of it depends on country to country. So you may refer to the legislative group of your country. Some countries may put into jail for using bitcoin. While for other countries you only need to pay fines for disobeying the law. So the coverage and the penalities are different per country. What will happen in case of trading bitcoin in country where bitcoin is banned?
Most of the time you just store your bitcoin and crypto money markets in a hardware wallet and you don't have to worry about anything.
Because no one can find your assets, if you're offline all the time.
Because no one can find your assets, if you're offline all the time.
I am yet to be aware if there is any country that has banned bitcoin. What they all are doing is to regulate the use of bitcioin in their country. If eventually bitcoin is banned by any country it will amount to sabotage to trade , deal or hold bitcoin in that country.
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?
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Ban is actually a direction of the government not allowing a certain things or investment to enter in the country for some reason that they think can harm their citizen.
What will happen in case of trading bitcoin in country where bitcoin is banned?
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Ban is actually a direction of the government not allowing a certain things or investment to enter in the country for some reason that they think can harm their citizen.
banned country means I think the country is prohibiting the circulation and use of bitcoin for transactions in his country because I see some countries have different rules for the finances used.
I think 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, if in the country there is an official law related to the ban of bitcoin, then he can be imprisoned. but if in the country there is no law, then the person holding the bitcoin can make an appeal.
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 make it more simple and understandable. If your country bans bitcoin then you won't be able to exchange it into cash if you needed the money for something unless you'll do it in between your friends or someone you know but if you get caught doing this, I guess there would be sanctions since it is not legalized in your country. Anything that is not legalized in your country is punishable by law if you'll be caught doing transactions that your government doesn't approve of it so better just hold your coins until the time will come that it will be legalized by your country.
Should remove the scam, that is the meaning of the board. Should do so in the big money market in this world.
Many people think that if a certain country bans Bitcoin, their citizens are selling it and not using cryptocurrencies anymore. The only problem is that it is impossible to prohibit using cryptocurrencies because they are decentralised. It would be wise to use a VPN while connecting to other nodes because the police might setup honeypot nodes which would find IP addresses of people who are using crypto.
I think ban means when the government or a particular country restrict the use, trading and exchanging of bitcoin maybe for some illegal purposes.
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?
If anyone asks you what kind of prison? Keep answer because gara using bitcoin, it's not sane that make the law
The same payers who accept no objection, even a third person who objected,
This is what is called madness
This question will have to be answered with reference to the legal specifications of the country in question as it may vary from country to country. Since the law can't tie any cryptocurrency wallet to you, the only thing the ban can achieve is to forbid cryptocurrency activities in the country. This means you can spend your cryptocurrency in any other country where there is no ban.
I think ban means you are not able to exchange or make transactions on your token/coins on that country so we can notice that those investors on crypto ban where not able to invest.
We need to specify what the ban is. Does the ban not allow citizens to have bitcoins? Because there are some countries that just forbid bitcoin to transact, but it allows us to have bitcoin as an asset. If the country forbids us even to ownership. Then the risk depends on the laws of the country. But I don't feel the punishment will be as bad as in jail.
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?
Of course that kind of matter should be handled by the law-enforcing people using their regulation about it. So the punishment depends on their regulations.
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?
In my country Indonesia, bitcoin is banned from doing transaction with bitcoin.
But owning bitcoin is legal, and also we have an official indonesian exchange called indodax.
So, it's just banned to be using bitcoin as a payment.
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 depends on the state regulations set.What will happen in case of trading bitcoin in country where bitcoin is banned?
But usually, someone will not be punished for holding Bitcoin, Because Bitcoin is a digital asset as well as gold, silver etc.
Most countries forbid Bitcoin to be used as a legal means of payment.
well if you hold btc in a banned country the possibility for them to find out this is almost impossible as soon as you don`t get involved in ICO`s or other kyc required investings.
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, being banned is actually means that something is prohibited to do and that will be very restricted. It is better that we know exactly the given restrictions or rules about banning bitcoin so we can be much aware to that and we can't able to do something to violating it. But unfortunately, even it's totally banned in our country there is always a way of involving to it without the acknowledgement of the third party which is bank and government. What will happen in case of trading bitcoin in country where bitcoin is banned?
It is boycott implies you won't permitted to trade the digital money in financial balance, not been utilized to purchase things within a nation for bitcoin or alts. Other than that they can't ready to do anything to the crypto clients. In the event that you continue trading the store with the general population in your nation or neighborhood trades implies it might make an issue you.
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.
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 is not possible for the authorities to punish Bitcoin holder in a country that banned the use of cryptocurrency because owning a Bitcoin doesn't require you to give your identity unless you use a Bitcoin to fiat exchange, that will be the time that you will get caught because you will need to verify your account before you can use those exchange, in short holding is possible but selling it for fiat will be a risk. If a country decides to ban Bitcoin, people there will not be able to sell their Bitcoin for local currency using banks because government will shutdown those local exchange, so the only possible way is to find a person that is willing to buy your Bitcoin for cash. What will happen in case of trading bitcoin in country where bitcoin is banned?
I don't think that you can go to jail by simply holding Bitcoin, because as we all know, We are anonymous in bitcoin. I think the only cons in this is that you cannot trade your money to turn into fiat. not unless you traded you bitcoin to a reliable person and they will send you the money thru paypal.
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 ban means you will not allowed to exchange the cryptocurrency in bank account, not been used to buy things with in a country for bitcoin or alts. Other than that they cannot able to do anything to the crypto users.
If you keep on exchanging the fund with the people in your country or local exchanges means it may cause a problem to you.
To be in safe place, please use the international exchange which is not need your KYC details on the exchange.
As I understand, people are safe until they are using it online in banned country. Problem occurred only if you are dealing it locally.
Maybe it will happen. But if you do not reveal any information, I think they will not know who you are. This means that the Bitcoin participant is always safe, visible and nobody knows you.
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?
Bitcoin is not banned in our country but as far as I know, you can still hold your BTC even in a country that it is banned. Bitcoin is usually banned in a country since the government do not like way it is moving, its volatility and it is decentralized, the ban is just spending Bitcoin on that certain country and you can still hold them though I do not know to other countries because I think they might have other rules about it.
In this case we need to consider the regulations and legal laws of the country. We need to understand what will be the punishment of that kind of crime.
So what if, you have 5btc in your portfolio and then months later your government declared a cryptocurrencies ban?I think you should find ways to claim your bitcoin in your portfolio, you may travel to another country if you want to get it or send it to your trusted friend abroad and convert into fiat. It may punishable if you caught that you are using bitcoin even it is banned, so be careful it is better to still being anonymous in bitcoin like what Satoshi did.
In this case we need to consider the regulations and legal laws of the country. We need to understand what will be the punishment of that kind of crime.
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?
In my country bitcoin is banned, but not banned at all, we still can trading, mining and etc, only banned as payment method my country have a legitimate currency, and the government only recommends for using it. BTW our national bank already interesthing about bitcoin, not the bitcoin but the blockchain system
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?
Nobody can prove that you are holding Bitcoin, so no, you won't go to jail even if your country decides that holders should be punished. Which sound ridiculous anyway. What will happen in case of trading bitcoin in country where bitcoin is banned?
A ban of a currency means that the country won't recognize it and won't allow companies that have something to do with it to exist under law.
This doesn't mean that you have to get rid of your cryptocurrency, throw it away or something. It mean that there will be no exchanges and stores operating in your country. If you put an offer on ebay that you want to sell your iphone for crypto you will still be able to and nobody will put you in jail for 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?
What will happen in case of trading bitcoin in country where bitcoin is banned?
That entirely depends on the legislative framework of your country. "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 is ban means you will not allowed to exchange the cryptocurrency in bank account, not been used to buy things with in a country for bitcoin or alts. Other than that they cannot able to do anything to the crypto users.
If you keep on exchanging the fund with the people in your country or local exchanges means it may cause a problem to you.
To be in safe place, please use the international exchange which is not need your KYC details on the exchange.
I think for it to be in full state regulation, because every country has different legal rules, but if it is not used for negative things I think it will not happen.
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 it depends on which country you are and how they handle this issue or what is their law implies for bitcoin user in your country because as far as I know, differents countries have different law or regulations.
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?
all back to the rules of each country if bitcoin is strictly prohibited to be accessed even there are countries that will punish severely if someone access bitcoin and even bitcoin that we know there is no legal protection against investors What will happen in case of trading bitcoin in country where bitcoin is banned?
In this regard, we need to look at the legal regulation of that country completely. First of all, if you keep BTC in a bitcoin wallet, it's almost impossible for any state to identify you. But if you are holding a BTC or any crypt money on a stock exchange and it also shares your information with the government of that country, you may have a problem with this. For example, the state can not prove that you own the Bitcoin Core wallet. But as I said at the beginning, we have to look at the content of the legal regulation. If you share the law text in English, we can evaluate it. But if you say it as a hypothesis, it does not make any sense what to 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?
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