Topic: why bitcoin illegal in asia? - page 10. (Read 13611 times)
Im from Asian country but it is not ban in my country so far. Japan is an asian country right? Bitcoin was started by a Japanese. I think there are maybe certain legalities concen in some Asian countries thats why Bitcoin cant penetrate somehow. Well i guess government is somewhat after with our safety thinking that Bitcoin transactions are untracesable because of being decentralized.
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
There are some countries, banning bitcoin ,but yeah mostly is in asia countries. Infact the government want to take action against bitcoin so that they can control everything, or maybe in some valid reason . Bitcoin can also be use as money laundering . also as tax evasion . cause they cant get tax in esvery bitcoin transaction. that's why they want to regulate bitcoin.
The government want's to protect the innocent people who are recruited by those who are involve with ponzi scheme, pyramiding, networking and these scheme is rampant in Asian Country and now that bitcoin is very popular they use bitcoin as a front to recruit people.
bitcoin like ponz scheme
The ponzi scheme is an illegal investment mode that gives investors an advantage of their own money or the money paid by the next investor.
Profits are not obtained from individuals or organizations that run investment activities.
Ponzi schemes usually persuade new investors by offering higher returns than other investments in the short term with very high returns.
The continuity of such high returns requires an ever-increasing flow of money from new investors to keep this scheme going.
The ponzi scheme is an illegal investment mode that gives investors an advantage of their own money or the money paid by the next investor.
Profits are not obtained from individuals or organizations that run investment activities.
Ponzi schemes usually persuade new investors by offering higher returns than other investments in the short term with very high returns.
The continuity of such high returns requires an ever-increasing flow of money from new investors to keep this scheme going.
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
Governments that are afraid to accept developments in currency, may be the same as what happened in China. Because too many are investing in bitcoin they assume the impact is that the country will lose.
In contrast to conventional fiat spheres, bitcoin differs in that no supervision can control values due to its decentralized nature, reducing circulation can cause instability typically caused by central banks.
There is also limited inflation control that is implemented in Bitcoin software.
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China is a communist country and their government wants to get hold all of the assets and know all the things their people do but I don't think they are afraid in this new cryptocurrency cause they are one of the first countries to adapt into it too. correct me if I'm wrong.
probably many causes in some countries do not legalize bitcoin, because every country has its own problem and very different.
which may be one of them is feared that money laundering from money that is not true in the transaction so that the rotation is difficult to trace.
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
Governments that are afraid to accept developments in currency, may be the same as what happened in China. Because too many are investing in bitcoin they assume the impact is that the country will lose.
In contrast to conventional fiat spheres, bitcoin differs in that no supervision can control values due to its decentralized nature, reducing circulation can cause instability typically caused by central banks.
There is also limited inflation control that is implemented in Bitcoin software.
.
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
There are some countries, banning bitcoin ,but yeah mostly is in asia countries. Infact the government want to take action against bitcoin so that they can control everything, or maybe in some valid reason . Bitcoin can also be use as money laundering . also as tax evasion . cause they cant get tax in esvery bitcoin transaction. that's why they want to regulate bitcoin.
I never understand again to take advantage of the bitcoin, creating an economy on cryptocurrencies, some countries forbid its use.
Any website or source about this ? I thought it was legal in Asia.
Yes. Here:
http://bitlegal.io
Asia is not a single country. It is a continent, and there are a total of 34 countries located in the Asian continent. Bitcoin is perfectly legal in some of them (such as Japan, Taiwan and Singapore), while it is banned in some others (Nepal, Bangladesh, Kyrgyzstan.etc). The legal status is unknown in the remaining nations (India, Sri Lanka.etc).
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
Where did you get this question. I am from asian country. And bitcoin is not illegal here in my country. Please before you ask a question. Verify it first if this is true or not. 
No, you heard wrong.Bitcoin is banned in 2-3 countries in Asia just.That doesn't means bitcoin is banned in Asia.Bitcoin is very much popular in Asia.People of Asia had welcomed bitcoin cordially.And we know how important is bitcoin.I saw in Net that only Bangladesh has banned bitcoin for money laundering.It's true that some country has banned bitcoin but I don't think that will be problem for bitcoin to reach higher.Bitcoin is the greatest crypto of the century and it will remain in future.
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
The biggest reason may be because there are still many Asian countries that have not been able to monitor the digital currency. they may not yet have a regulation that could be a reference for the digital currency. but do not deny the possibility if at any time when many countries legalize bitcoin, then they also contribute. I think they will soon learn from developed countries to make official regulations about digital currency, then they will legalize bitcoin in their country...
Any website or source about this ? I thought it was legal in Asia.
Not only asia there are some countries in Europe also where bitcoin is illegal.there have some reason why they are banned bitcoin.such that bitcoin is not mone its a electronic data.so that people didn't pay tax for it and without tax any country gone ruined.so i think thats the reason why some of countries in asia bitcoin is illegal.
Some Asia's country just like Taiwan, Thailand and China have same reasons and that is that bitcoin has no value at all and that it was just manipulating us and some says that it should be not tolerated. They have different different perceptions regarding this matter.
But, in those Asia Japan is really having the great decision by allowing bitcoin and cryptocurrencies to used in making payments and other related transactions.
In some countries really the bitcoin illegal
Not only asia there are some countries in Europe also where bitcoin is illegal.there have some reason why they are banned bitcoin.such that bitcoin is not mone its a electronic data.so that people didn't pay tax for it and without tax any country gone ruined.so i think thats the reason why some of countries in asia bitcoin is illegal.
well, i wouldn't blame any country for making bitcoin illegal, they are just trying to rescue their fiat currency from the grip of bitcoin. One thing is sure, if they continue to see bitcoin as a threat rather than an opportunity, they'll surely lose the battle.
i wouldn't say its illegal per-say, the Asian countries just like most countries haven't just put in place proper legislation on how to govern its usage. At the rate which bitcoin is gaining popularity, it will soon be legalized.
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
Where did you get this question. I am from asian country. And bitcoin is not illegal here in my country. Please before you ask a question. Verify it first if this is true or not. Jump to: