why bitcoin illegal in asia? - page 19.

roddy5

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Quote from: bitfocus on November 21, 2017, 09:11:16 AM

I think you need to google a little about this topic. Countries like Thailand, Singapore etc. are welcoming BTC since the beginning and China is not the whole Asia.

That is right China banning Bitcoin doesn't mean that it is the whole Asia. Japan is also part of Asia and see how they support and embrace the use of bitcoin in their country. Some Asian countries are neutral about the existence of Bitcoin as of now but did not ban it totally.

Bayoe_noe

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To be clear though, the world’s first decentralized cryptocurrency is not illegal because it poses any risk to the citizens of the countries we will list. Rather, it provides an alternative, open, P2P monetary system and an exit for some which is seen as a threat to their centrally-controlled, legacy monetary system. All of the countries listed below banned Bitcoin in 2014, following the Mt. Gox disaster. As Bitcoin begins to gain traction throughout the world, it’s possible that these countries may eventually change their stance on Bitcoin and digital currencies.

bitfocus

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I think you need to google a little about this topic. Countries like Thailand, Singapore etc. are welcoming BTC since the beginning and China is not the whole Asia.

rosaline

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In our country, it is not illegal per se because illegal, to us, is defined as a crime that is punishable by the Revised Penal Code. But, it is something that is not supported by our central bank which means that any transactions that use Bitcoin as a form of payment will not shield the parties concerned should there be any illegalities that come with it.

desspencer

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Maybe their government sees the coin as a threat to their current fiat system.

cpfreeplz

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It's not illegal in "Asia". I think people should use "the google" before they ask dumb shit like this. So many Asian countries have massively adoption in bitcoin. Don't be a dumbass.

Habakkuk77

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Not all Asian countries have consider bitcoin as illegal but some countries accepted it. Yes we all know that bitcoin is worlwide digital currecies but it is not accepted by other countries.
However, countries who consider bitcoin as illegal operations is because their view about bitcoin can be use for illegal purposes and transactions.

Francesing

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It is true that bitcoin currency is illegal in many asian nations like bangladesh and Kyrgyzstan. The economy of this countries are very low and also it may be due to religion or any government regulations.

Kemarit

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Quote from: Enzo05 on November 15, 2017, 11:15:50 AM

Quote from: bs9 on August 26, 2017, 09:28:41 PM

bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks

Here in Philippines it's Legal but some Filipino's find it as a scam , Well maybe cause they are not that knowledgeable when it comes to BTC . I conclude that one of the reason why some Asian countries that btc are illegal because of their government who just want to use their own currency .

I don't think that bitcoin is legal in Philippines, however the Central Bank doesn't categorized it as illegal as well. Philippines is still in the grey area, government is still not decided but they recognized bitcoin as alternatives for remittance service as we all know that there are millions of Filipinos leaving outside of the country that sends money to their love ones in the Philippines and bitcoins could be a good alternative because they have a local exchanges coins.ph which help facilitates the transaction and they have approved at least 2 trading platform that will be operational next year if I'm not mistaken. But the main reason why some Asian countries banned bitcoin because they perceived bitcoin as a tool that can be exploited by terrorist and can be used for criminality like buying illegal drugs in the dark web.

Ealex

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Quote from: erpbridge on August 26, 2017, 09:32:56 PM

Quote from: bs9 on August 26, 2017, 09:28:41 PM

bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks

Could be anything ranging from private corruption to just a conservative government. I am sure in some countries private countries pay politicians or decision makers to not allow bitcoin because if bitcoin becomes really big, it can cause losses to those corporations.

thank you for clearing this up.

lichao1395427

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I think not all Asian countries assume that bitcoin is illegal, if we look at the role of japan and china that have a big role on bitcoin because it has many users doing business in bitcoin, is the country illegal bitcoin?
and the legality of bitcoin is determined by the policies of the respective state governments.

Enzo05

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Quote from: bs9 on August 26, 2017, 09:28:41 PM

bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks

Here in Philippines it's Legal but some Filipino's find it as a scam , Well maybe cause they are not that knowledgeable when it comes to BTC . I conclude that one of the reason why some Asian countries that btc are illegal because of their government who just want to use their own currency .

Carmen01

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I think its illegal because they know what can bitcoin brings to their country in some bad way or not good for their economy like their own money will become low value because of bitcoin.We can do anything here if you know bitcoin like to control other country because of this digital money called bitcoin,nothing is impossible here

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Quote from: Sithara007 on November 15, 2017, 04:04:22 AM

Quote from: jdole on November 14, 2017, 05:10:46 AM

I do not know the country where bitcoin is illegal in Asia.
Please tell me which country is bitcoin illegal in asia.

There are a lot of countries. A few examples are Bangladesh, Nepal, and Kyrgyzstan. Trading and even possession of Bitcoin is banned in these countries (although it is rarely implemented). Even in China, the trading of Bitcoin to CNY and vice-versa is banned. You can only trade BTC for other crypto-currencies.

Mostly their government can't control bitcoin circulation because it can be use for criminal attempt.
Asia still consider as growing state , some of them have poor analytical about how to use bitcoin in right way

Sithara007

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Quote from: jdole on November 14, 2017, 05:10:46 AM

I do not know the country where bitcoin is illegal in Asia.
Please tell me which country is bitcoin illegal in asia.

There are a lot of countries. A few examples are Bangladesh, Nepal, and Kyrgyzstan. Trading and even possession of Bitcoin is banned in these countries (although it is rarely implemented). Even in China, the trading of Bitcoin to CNY and vice-versa is banned. You can only trade BTC for other crypto-currencies.

ronics

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Because of the difference in the Philippines. Just right now and it will not happen to our country to ban us .because the countries which ban bitcoin usually have and rigid central government control like Thailand .because for me it's not a bit of a bitcoin here and the country that are banned like Thailand are just a small countries in Asian ..hope we will not happen in our country.

SamsungBitcoin

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Quote from: btc-facebook on November 12, 2017, 06:32:10 AM

Quote from: Zabrielle on November 12, 2017, 02:03:42 AM

Im from asian country but so far bitcoin has no problem with the government. Its not illegal in my country at all. I heard its banned in china. But in my country bitcoin is booming. Infact this year i lot of peroson thay i know here in my country are doing bitcoin.

Mostly Asian problem when use Bitcoin is corruption and terrorism. They are focusing the problems so they will do anything for preventing those criminal attempt
With Bitcoin they have a chance so their government think logically by made a policy to forbid Bitcoin usage

Yeah number 1 problem of asian country is currruption, but in terms of crypto currency i do not think there is asian country banned bitcoin mostly governments already adopt bitcoin because of the popularity of bitcoin in asia and also government already see the good benefits brings this digital currency in every people using and earning with bitcoin.

Stephlambert

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Quote from: jdole on November 14, 2017, 05:10:46 AM

I do not know the country where bitcoin is illegal in Asia.
Please tell me which country is bitcoin illegal in asia.

True, I have not seen any Asian country officially saying Bitcoin was illegal. Maybe that person is talking about Asian countries making ICOs illegal, like China for example.

On the other hand, even if not illegal, a lot of banks in Asia refuse to receive money from crypto exchanges

jdole

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I do not know the country where bitcoin is illegal in Asia.
Please tell me which country is bitcoin illegal in asia.

Cheng-Cheng

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I can say that not all Asian countries forbid bitcoin for there are those which allows such to enter the Asian finance world and even permits banks and other remittance networks to exchange from BTC coins to actual Asian currencies. Therefore, bitcoin is not totally illegal in Asia, there are merely several countries who disallow it.

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