why bitcoin illegal in asia? - page 23.

kalph22

member

Activity: 121

Merit: 11

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

Not all country in Asia are considered Bitcoin as illegal, I heard that theirs some country like Bangladesh because they have Law the "Anti-Money Laundering Law" they said that anybody on their country caught using virtual currency could be jailed. And Kyrgyzstan In a July 2014, statement of the National Bank of the Kyrgyzstan Republic made clear that "the use of "virtual currency", bitcoins, in particular, as a means of payment in the Kyrgyzstan Republic will be a violation of the law of our state.

bitcoworld

full member

Activity: 357

Merit: 100

Casino & Slot Reviews

Quote from: bitshah on October 18, 2017, 08:58:55 AM

I think even Venezuela is facing government restrictions to bitcoin mining. A month or two ago there were some arrests made for bitcoin mining.

You will see all those small countrys which are mostly "dogs" of bigger ones do always that what the Dog does when the owner calls....

bitshah

newbie

Activity: 24

Merit: 0

I think even Venezuela is facing government restrictions to bitcoin mining. A month or two ago there were some arrests made for bitcoin mining.

margrettco62

member

Activity: 98

Merit: 10

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

The majority asia countries is accept Bitcoin. Only some Asia countries where Bitcoin is illegal as:
Kyrgyzstan: In this country, Bitcoin and Altcoin are both considered to be an illegal form of a payment.
Taiwan: Taiwanese Supervisory Commission has banned Bitcoin ATM installations. The authorities believe that Bitcoin is not a currency and thus should not be accepted by individuals or banking institutions.
Vietnam : Now Bitcoin is not a legit payment method but Vietnam Government has a project to manage bitcoin in 2018 and so 2018 bitcoin is legit in vietnam

8270thNinja

full member

Activity: 210

Merit: 100

busy in real life, long post gap is understandable

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

Misleading Question. Philippines is part of ASIA. Therefore BITCOIN is NOT illegal in ASIA ( as per the title suggests). Please Edit the title. I am also tired of discussing this thing, Like bitcoin has always been a good opportunity for a country to revolutionize their monetary activities but yeah some of them choose not to. I don't want to talk again about china. I'm so tired of this country.

golekcepot

newbie

Activity: 56

Merit: 0

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

Each government has its own specific assumptions of thoughts according to the conditions of their country.

For example Indonesia (because, I am Indonesian), Bank Indonesia considers that Bitcoin can be used, traded, or stored as an asset or a form of digital commodity by the people of Indonesia, but should not be used as a means of payment because the only valid means of payment in Indonesia is the Rupiah currency (Dollar, Yen, Bitcoin, and other currencies aren`t allowed). So what is considered illegal isn`t just bitcoin alone.

The use and possession of Bitcoin are the personal responsibility of each user.

senne

hero member

Activity: 1078

Merit: 507

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

I don't think you searched properly; Bitcoin is only illegal in 2 countries Kyrgyzstan and Bangladesh in Asia. Rest there are many countries where there might not be proper regulations for Bitcoin but still it is regulated. In fact, if you think about legality issues then China and Japan one of the biggest player in crypto market are part of Asia only.China may recently issued a a ban on ICO but that also is going to lift soon, also Russia has made a tremendous progress in the Bitcoin Market.So you just can’t blame a continent for legality issue, without proper search.

bitcoinvamp

full member

Activity: 182

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

I didn't know anything about bitcoin being illegal in asian countries as i myself come from a asian country but heres nothing like illegal bitcoin. can you please tell in detail about the countries in which bitcoin is illegal or any link which help me with more information on this. my regards.

lawyer34

newbie

Activity: 37

Merit: 0

It is not possible. Governments cannot prevent Bitcoin. They cannot prevent bitcoin traders. They only able to prevent Bitcoin exchange.

leonair

sr. member

Activity: 1400

Merit: 420

Quote from: etraderhart on October 12, 2017, 08:14:43 AM

The only country I know that has declared Bitcoin illegal is Nepal, but this is only a temporary thing.

China didn't even ban bitcoin, you can still mine and use them just as long as it doesn't leave the country.

Most probably why China ban the trading of bitcoin is for them to have enough chunk of bitcoin in the next years and when the price goes higher it will really help their economy. This is a wise strategy that they made considering that China has a huge part on mining and even producing the device to mine it.

lili song

hero member

Activity: 980

Merit: 509

For example China ban bitcoin because it can be use for criminal activity such as corruption or money laundry.
So China forbid bitcoin usage and they want to legalize bitcoin so when the regulation has been made, I think China able use bitcoin once again in the future.

ethereumhunter

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

i think the other country in asia is not yet giving any statement about bitcoin is illegal or legal but one thing that i know is many people from asia still using bitcoin and they are trading bitcoin with fiat and altcoin. and if the each of government finally banning bitcoin for their each country, i think people will still using bitcoin and they will find another ways that could give them access to use bitcoin. i am sure people is not to worried about the news of banning bitcoin because bitcoin will be reach new level price without them so they can trying to use bitcoin.

zarados

full member

Activity: 364

Merit: 130

Quote from: SixOfFive on October 14, 2017, 09:37:23 AM

Not in whole Asia. There are few countries that have a negative view toward BTC and crypto market. Bitcoin is illegal and banned in Bangladesh and Thailand. Where as in China, there are some negative news about ICO's but still they haven't banned it. Other countries like India,Pakistan have a status 'Not Illegal hence legal'.
So thus statement is totally false.

that I know, Its not every countries in asia. Probably after china have banned crypto currency, its like the whole asia was also banning it. Anyway, even 50% countries in asia was banning crypto currency, especially bitcoin, it will keep rising its price without them. ANd if that truly happening, Asia will be more fall behind from other continent technology.

SixOfFive

sr. member

Activity: 630

Merit: 257

Not in whole Asia. There are few countries that have a negative view toward BTC and crypto market. Bitcoin is illegal and banned in Bangladesh and Thailand. Where as in China, there are some negative news about ICO's but still they haven't banned it. Other countries like India,Pakistan have a status 'Not Illegal hence legal'.
So thus statement is totally false.

Mr. Thang

member

Activity: 110

Merit: 10

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

Bitcoin is being banned in some countries in Asia due to its decentralized nature, making it impossible for its transactions to tracked down by anyone. Due to its nature, people are abusing it under the dark web for illegal transactions involving drugs, crimes, and even hitmans. Despite being banned by some countries around the world, most countries accept the transactions of it due to the opportunities it provide to the public in terms of having the potential of earning money online.

waynechong1995

full member

Activity: 644

Merit: 117

swing!

Your scope is huge and Asia had over 50 notable countries, certainly not every single one of them publicly issued ban on cryptocurrencies.

Some of main characteristics of countries that banned crypto is they had huge GDPs and lots of people, once the idea of BTC spread among their people it would be difficult to control as it make fishy business activities less traceable and promotes anonymity as well. In my country concerns about ICOs has raise and authorities are working proposals to regulate our people from using them publicly.

dedexx

newbie

Activity: 6

Merit: 0

i just cant understand why some country in asia not accept bit coin ? Huh

IAMYOURLEADER

full member

Activity: 140

Merit: 100

I just noticed that those countries who prohibits the use of bitcoin and made it illegal are mostly poor countries. While the other asian countries just like China is just regulating the ICO. People sometimes misunderstood regulated as illegal or banned.

bitcoworld

full member

Activity: 357

Merit: 100

Casino & Slot Reviews

Quote from: etraderhart on October 12, 2017, 08:14:43 AM

The only country I know that has declared Bitcoin illegal is Nepal, but this is only a temporary thing.

China didn't even ban bitcoin, you can still mine and use them just as long as it doesn't leave the country.

Exactly same what i said 4 sites ago

etraderhart

newbie

Activity: 46

Merit: 0

The only country I know that has declared Bitcoin illegal is Nepal, but this is only a temporary thing.

China didn't even ban bitcoin, you can still mine and use them just as long as it doesn't leave the country.

Topic: why bitcoin illegal in asia? - page 23. (Read 13880 times)