why bitcoin illegal in asia? - page 22.

migolmigol

full member

Activity: 168

Merit: 100

Quote from: bs9 on August 26, 2017, 08:28:41 PM

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

1) It is a mean of illegal transaction that's why the government is banning it.
2) It is an option for money laundering.
3) Tax earning from it can not be imposed since it's an anonymous transaction.
4) The government wants only their fiat money to be used and circulated in their country.
5) Some thinks it is a threat for a risky investment and it may crash soon.

TrumpD

sr. member

Activity: 602

Merit: 265

Where is the information that bitcoin is illegal in some parts of Asia coming from? Regulated in some way maybe, but banned or illegal is simply not true. In some countries exchanging them may fall under certain regulations, aside from that, it is all good.

cryptoblue

member

Activity: 196

Merit: 11

I have no idea, why? But, nobody can stop bitcoin, it is the future of currency. All the countries in the world have to legalize bitcoin in future.

samcrypto

sr. member

Activity: 2044

Merit: 314

Vave.com - Crypto Casino

I don’t know the reason why they don’t like the technology of bitcoin but i think not all asian countries bitcoin are illegal. Blockchain technology is our future and asian countries should accept this.

blockman

hero member

Activity: 3066

Merit: 629

Vave.com - Crypto Casino

Quote from: Snub on October 30, 2017, 05:16:15 PM

The biggest country that illegalized to use bitcoins is Russia... I think that their goverment just wants to control everything... They just don't realise that bitcoins - is the most powerfull currency for now, and they can't just stop it, even in their own country

I haven't read any news that Russia started to say that bitcoin is illegal. And if bitcoin is illegal then what do you think about their shitcoin cryptoruble that they will be launching soon? And besides, I think Russia is not part of Asia, it's a big country and many says it's part of Europe. And for the OP, most of the countries in Asia are supporting bitcoin. Philippines, Japan, China and only few Asian countries are getting out of their interest about bitcoin so they say it's illegal.

Snub

hero member

Activity: 812

Merit: 500

The biggest country that illegalized to use bitcoins is Russia... I think that their goverment just wants to control everything... They just don't realise that bitcoins - is the most powerfull currency for now, and they can't just stop it, even in their own country

TheDarkVoice

newbie

Activity: 23

Merit: 0

Probably it is because they don't have control over it. I don't think that the government is happy to have people trading money that they can't control. It is just my opinion, probably they have a much beautiful excuse for making it ilegal, I don't know.

Bob_trades

newbie

Activity: 26

Merit: 0

Not in my country. Where are you from? The only country I've heard of that is publicly illegal is Nepal.

China isn't even one in the list. Bitcoin is still allowed to circulate within the country.
Indonesia has made a similar move.

detector

full member

Activity: 484

Merit: 124

★

Quote from: Konco126 on October 29, 2017, 08:49:21 AM

I think, maybe because of the legal factors in the country that has been determined including my country. But for me illegal bitcoin in my country is okay don't affect me. Because, I use the original bitcoin from my own effort. I also don't use bitcoin as a transaction. But I sold my bitcoin first to my country's currency. So it can be used as a legitimate transaction tool in my country.

My government also forbid bitcoin as main transaction because it can be use for criminal activity.
It's reasonable and they have right to decide whenever the best for their civilian

The fact is bitcoin demand come from Asia, if only they all had legalize bitcoin, I'm sure the bitcoin value will increase even higher

criz2fer

full member

Activity: 672

Merit: 127

Quote from: EEEian on October 27, 2017, 09:49:49 AM

Quote from: bs9 on August 26, 2017, 08:28:41 PM

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

First and one & only big reason is government fact i think because few asia countries government thinking is very bad on bitcoin.Bitcoin having a very bad effect those countries.So they announced bitcoin is illegal coin.

Not all. I think you are only pertaining to China because of their recent news of closing their exchangers. But other country are open to this new technology which they think that may contribute to their economy. Asia countries are still afraid of bitcoin because many people are afraid of scams which are usually in the news of big medias. I think theres should be a summit to discuss this technology to further educate every country in asia what bitcoin can do.

Konco126

full member

Activity: 295

Merit: 104

I think, maybe because of the legal factors in the country that has been determined including my country. But for me illegal bitcoin in my country is okay don't affect me. Because, I use the original bitcoin from my own effort. I also don't use bitcoin as a transaction. But I sold my bitcoin first to my country's currency. So it can be used as a legitimate transaction tool in my country.

Harlot

hero member

Activity: 1806

Merit: 672

It is not true that Bitcoin is illegal on the whole part of Asia. It does not even relate to a region on why it is illegal. For instance countries like Japan, Korea, and Philippines are all Asian countries but it is legal to use and earn Bitcoin on their countries. With regards to its illegality I only see China and Singapore being strict about Bitcoin escpecially the Chinese government on Exchanges and also Mining. I see that these countries have their personal views about Bitcoin and they are still not ready to embrace it fully.

Netnox

legendary

Activity: 2044

Merit: 1008

You can' take Asia as a uniform block. In certain countries such as China and Thailand, there are severe restrictions on the trade of Bitcoin. And at the same time, Bitcoin trading is perfectly legal in some countries such as Singapore, Japan, and South Korea.

Thekool1s

legendary

Activity: 1512

Merit: 1218

Change is in your hands

@Greenbits, it has nothing to do with religion, in fact if you see bitcoin in its truest form, it is a perfect currency for Muslims. It has no kind of interest linked in it. Interest for Muslims is the worst thing possible. So why are these countries banning a interest-less thing? It has to do with terrorism protection and getting away with corruption, these countries also can't afford tax evaders, cause they are still developing. There are multiple reasons behind the ban and religion has nothing to do with it.

TravelMug

hero member

Activity: 2632

Merit: 833

Again, there are a lot of countries in Asia that sees bitcoin as not illegal, although the government has put a safety net by having regulations on bitcoins. Asia is very friendly to bitcoin and I doubt that they see bitcoin as a threat to their economy. Actually is the other way around, a lot of third world Asia countries has seen bitcoin as another alternatives to earn money. If the government see the positive effect of bitcoin in their economy, common sense will tell them not to declare it illegal but just put a tighter regulations just to control the used of it. So I don't know the idea come from from saying that bitcoin is not loved in Asia and is consider illegal.

EEEian

full member

Activity: 246

Merit: 100

Quote from: bs9 on August 26, 2017, 08:28:41 PM

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

First and one & only big reason is government fact i think because few asia countries government thinking is very bad on bitcoin.Bitcoin having a very bad effect those countries.So they announced bitcoin is illegal coin.

bitcoworld

full member

Activity: 357

Merit: 100

Casino & Slot Reviews

Quote from: kwetiaw on October 20, 2017, 03:20:33 AM

Quote from: kodtycoon on October 20, 2017, 03:17:22 AM

I do not understand about system in asian country, but I assume that asia country does not prohibit bitcoin. But, it's just that bitcoin has not been legalized, because I see people in Asian countries have no complaints about this. So I guess people on asia are still safe using bitcoin as long as governments in their country make rules about digital money like bitcoin.

Most of Asia region are against corruptor and money laundry while bitcoin able to being use for such things.
It's reasonable and it's depend on state's policy whenever they still want legalize bitcoin or not

Bitcoin is able for such thing but normal registered and regulated currencys are even more? or do you know a drug lord which take bitcoin more likly the $

kwetiaw

newbie

Activity: 6

Merit: 0

Quote from: kodtycoon on October 20, 2017, 03:17:22 AM

I do not understand about system in asian country, but I assume that asia country does not prohibit bitcoin. But, it's just that bitcoin has not been legalized, because I see people in Asian countries have no complaints about this. So I guess people on asia are still safe using bitcoin as long as governments in their country make rules about digital money like bitcoin.

Most of Asia region are against corruptor and money laundry while bitcoin able to being use for such things.
It's reasonable and it's depend on state's policy whenever they still want legalize bitcoin or not

kodtycoon

legendary

Activity: 1568

Merit: 1002

I do not understand about system in asian country, but I assume that asia country does not prohibit bitcoin. But, it's just that bitcoin has not been legalized, because I see people in Asian countries have no complaints about this. So I guess people on asia are still safe using bitcoin as long as governments in their country make rules about digital money like bitcoin.

MotulDiesel

member

Activity: 112

Merit: 10

i think allmost countries in Asia like controlling everything and banning everything they can not control it. Beside, the economy of those countries are not developed enough to accept a new kind of money and make a policy about it. However, when bitcoin become popular in all over the world, the goverments will think about that, i hope a bright future that everyone can go shopping with bitcoin.

Topic: why bitcoin illegal in asia? - page 22. (Read 13880 times)