Topic: why bitcoin illegal in asia? - page 14. (Read 13611 times)
Probably because some Asian countries are a developing country so the government is still worried about the bad effects of bitcoin, developed countries like the US do not seem to support bitcoin either, so it's natural that some Asian countries ban bitcoin
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
I think there has been a concern about currency circulating without the government being able to tax it. A second concern would be the ability to move currency (and therefore wealth) out of the country without the government being able to control or restrict that.
China just had a huge legal case ruling that Bitcoin trading is legal, clearing up a legal grey area there.
https://dowbit.com/chinese-citizens-trade-bitcoin-own-risk/
https://dowbit.com/chinese-citizens-trade-bitcoin-own-risk/
For my own research i think not all in asia nation banned bitcoin.I didnt read any article or statement about that.
Not all country in asia banned the bitcoin, maybe some countries considered bitcoin as illegal but I am from also and in my country, bitcoin is legal.
The Chinese government is always centralized!
I don't think it's illegal coz i live in Asia and bitcoin is widely use by other traders and i belive bitcoin will pump more is just that bitcoin right now are manupulating by big whales. hope you will accumulate some bitcoin this is a long term investment..
As i research and based on my bitcoiners friends, Bitcoin is not illegal, it maybe just being used in some illegal activities or illegal payment transactions. But this bitcoin is not illegal and actually it is being used in other country and Bitcoin is accepted in other asean countries.
Bitcoin asian countries tend to want more control on their population and bitcoin is an obstacle to that, like internet
not illegal just goverment not all knows about this.
Yes but I think the Government is working to regulate it.
Is bitcoin really illegal in Asia? I mean I know that south Korea has coins
The recent spike in the exchange rates might have played a part. Before the exchange rates went up in November and December, the government here in India was not very bothered about the usage of Bitcoins (apart from the usual warnings). But once the prices hit $15K, they started actively going after the crypto-currency users.
not illegal just goverment not all knows about this.
When it is not permitted it is illegal. But reason why it is not legal is often lack of understanding, this is true.
not illegal just goverment not all knows about this.
BTC and alt coins are legal and accepted as legal currency in some countries, but even this countries have no clear regulations regarding this currencies, especially in terms of taxation. Accordingly legalization of cryptocurrencies may cause a lot of inconveniences in legislation, it will be difficult to regulate this area. I think it is the reason that in some countries BTC is illegal, the governments do not wont to have new headache and would like to avoid possible mess.
because not all country in asia can accept change. from real money to digital money. need time to wait it.
that's why the governments of Asian countries make complex rules to prevent bitcoin from entering the Asian market, whereas in European countries they have implemented bitcoin as one of the easiest payment tools in transacting with altcoin called ERC20. Asia is still afraid because it will have a major impact on the decline of their currency in the presence of a digital currency that will dominate the market Trade of bitcoin is illegal only in one asian country and that is Bangladesh. Even Nepal doesn't has any laws for it while China has only stopped local exchanges from operating it hasn't clearly banned bitcoin.
I don't think that you are being very accurate here. Bitcoin is illegal in Bangladesh and the authorities have started taking actions against the Bitcoin users there. The same is the case with Nepal as well. Recently the police arrested 7 Bitcoin traders and sent them to prison. On top of this, Bitcoin is completely illegal in countries such as Kyrgyzstan and North Korea.
The truth is not entirely illegal, because the legality of bitcoin is still a debate in some Asian countries.
As in my country Indonesia for example, the government does not admit bitcoin as a means of payment. No Prohibition applies to bitcoin users, but people are encouraged to be careful about making transactions or investments with bitcoin.
As in my country Indonesia for example, the government does not admit bitcoin as a means of payment. No Prohibition applies to bitcoin users, but people are encouraged to be careful about making transactions or investments with bitcoin.
because not all country in asia can accept change. from real money to digital money. need time to wait it.
I think, because the government is too worried when bitcoin is used as money laundering, terrorist financing, drug deals and other crimes. I think it is normal that the government is worried about it. And maybe for that reason, bitcoin is illegal in asia.
These adverse reasons may be in Bitcoin's fabric, but Bitcoin needs to take advantage of it. So countries can overcome these problems by forbidding Bitcoin, but they can be financially weak. Jump to: