Asian countries have varying response rates to digital currencies, there is greater uniformity in the speed of their actions.
China, which has banned the ICO and closed the cryptocurrency exchange amid fears fraudulent activities are said to begin the process to end Bitcoin mining activities domestically.
Citing similar concerns over fraudulent activities, namely money laundering, the South Korean banking regulator has begun investigations related to cryptocurrency compliance in some of the largest bank countries. The South Korean regulator also applies regulations that will prohibit anonymous trading. Like China, South Korea has banned ICOs.
In Japan, in an effort to increase transparency and consumer protection, regulators have officially approved the operations of 11 exchanges and 17 currencies for trade.
Apart from the busy activities of regional arrangements around cryptocurrency, it would be wrong to conclude that such developments would be a bad sign for the cryptocurrency market. Conversely, the introduction of clear regulations in some of the largest cryptocurrency markets will create legitimacy and transparency, reduce fraud, and ultimately improve market integrity.
Topic: why bitcoin illegal in asia? (Read 13880 times)
10% referral bonus is issued in the cryptocurrency which your invitee used for payment (BTC, BCH, ETH, LTC). You will see the bonus in your personal account
Write to me
Write to me
The OP needs to understand that "Asia" is a large continent with a population of more than 4 billion. The legality of Bitcoin is not uniform everywhere in Asia. In countries such as Japan and Singapore, it is 100% legal and in some others such as Nepal and Bangladesh, it is illegal.
Only few country in asia make bitcoin illegal. There reasons not clear why they make bitcoin illegal. And i am glad that my country is not making any move to make it illegal. In fact they are starting to study crypto. And how to make it safer for its users.
I think it depends on government on that country becuase there are some country in Asia are not actually illegal the bitcoin but im not declaring that Bitcoin is legal and im surely that government in that country is want to control everything money only on their country. Not all country in Asia are not Illegal Bitcoin but and we all known that almost all the people in that country is investing on Bitcoin so i think they have right to invest on what people want to invest so there is no reason to make illegal Bitcoin otherwise cryptocurrency is our Future Bank.
Everywhere different people and everyone has their own policy regarding bitcoin and cryptography.
I think because of the banks of different countries. because I also know they do not cry the crypto because they will be against them. but I think they can not stop cryptocurrency because of the big people who invest in it.
Because the government thinks it is bad and can harm its people. But part of the population in Asia thinks it is unreasonable for peopleand involved in playing virtual currency. 
and I am a Asian 
and I am a Asian
The biggest thing is that the government is not able to keep track of the transactions by which income tax is also being stolen because without any tax, money is exchanged by bitcoin, hence the government here is so But it's a government fault that it has not been able to increase its technology so much.
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
there may be several factors that make many countries in Asia not yet support bitcoin as a legitimate medium of exchange
the first factor is probably the state is protecting the value of their currency because it is feared that a lot of money will be spent in the country to buy bitcoin, make it weaken the country, or trade factors which is still traditional and buying and selling still uses paper currency so it is still difficult to accept digital currency, or the three government banking technologies may not support cryptocurrencies, so the government does not want to take a lot of risk.
Governments are concerned about taxation and their lack of control over the currency
Whenever the government tries to ban what people like, it's something that goes to where officials can not reach the hands. This happened with the prohibition of gambling, during the fight against drugs and cyber piracy. And now a similar picture can be observed in China, whose government is trying to squeeze bitcoin.
Not just China, but the vast majority of the Asian governments are trying to squeeze Bitcoin. And the ICOs are giving them an excuse to target Bitcoin. Recently I read that more than 80% of the ICOs end up as scams.
Whenever the government tries to ban what people like, it's something that goes to where officials can not reach the hands. This happened with the prohibition of gambling, during the fight against drugs and cyber piracy. And now a similar picture can be observed in China, whose government is trying to squeeze bitcoin.
Not just China, but the vast majority of the Asian governments are trying to squeeze Bitcoin. And the ICOs are giving them an excuse to target Bitcoin. Recently I read that more than 80% of the ICOs end up as scams.
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
Any proofs of this statement? I am from Asia and I had never heard or read this until you post this. Maybe there are some places in the Asia where it is illegal but not in my country. Maybe reading this can help you. Click Here.
There are many countries in asia where bitcoin is illegal because of the lack of knowledge and people are corrupt. They didn't want to pay taxes on their income and in some countries there are fear of terrorism that's why government did not declare it legal
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
As far as i know many asian goverments have approved Bitcoi as legal. Some have made some moves to allow people easier access to Crypto currencies.
Actually not many countries where bitcoin is prohibited by law, in other countries, bitcoin is freely available.
Whenever the government tries to ban what people like, it's something that goes to where officials can not reach the hands. This happened with the prohibition of gambling, during the fight against drugs and cyber piracy. And now a similar picture can be observed in China, whose government is trying to squeeze bitcoin.
it is illegal in asia because bitcoin is use for money laundering to victimize people who want to go in easy money.
in Asian countries there are frequent acts of terrorism and many drug dealers so bitcoin is very susceptible to misuse for the financing of acts of terrorism and illegal drug transactions. therefore bitcoin is prohibited because it is very difficult to track users and transactions involving crypto currencies.
Jump to: