Topic: why bitcoin illegal in asia? - page 27. (Read 13880 times)
Because bitcoin is a virtual currency that can be used in payment transactions, legality is an important matter that is highly considered by its users. Although most of them still enjoy the benefits of Bitcoin decentralization, the government's or regulators' stances remain important, especially in the future.
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
Which countries? This is news to me. I don't think bitcoin is illegal in any country.Regulated maybe, but illegal? How will they stop people from using it? It's a failed policy.
i will not use the terms of 'illegal' in this case (except China)
government in asia, they are still observing, what will happen next?
law makers probably know block chain is the future, but how can we regulate ? to avoid mass tort destruction incident?
government in asia, they are still observing, what will happen next?
law makers probably know block chain is the future, but how can we regulate ? to avoid mass tort destruction incident?
Frankly speaking, we don't care much if bitcoin will be legalized in our country soon. As long as we have this freedom as of now transacting, exchanging from bitcoin to fiat and even buying prepaid load and shopping online were okay with it. We can even withdraw our earnings in so many ways, bank ATM, remittances center and even convenient stores. That's how our situation here and I think it's much better to remain this way.
Where you see illegal bitcoin in asia, even I do not see any country that think bitcoin is illegal. actually bitcoin is not illegal but bitcoin does not get more attention from the government, even the government also does not say bitcoin is illegal. legal or illegal bitcoin, bitcoin will still be used by the community.
Asia is the major market for Bitcoin. There is a surge in demand for bitcoin in Asia recently which includes South Korea, Japan, India, China, Singapore, Indonesia as the major countries driving the growth. There might be some 3-4 countries in Asia where Bitcoin is illegal. Asia has almost 48 countries among which if it is banned in 3-4 countries, then that doesn't means Bitcoin is banned in Asia as whole.
it just for anti money laundering, they cant control cryptocurrencies...thats why some of asia and US country banned of using a bitcoin....but im surely bitcoin will be legal soon...
The answer is simple. CHINA!
There are many reasons for this to be illegal.First reason this country government thinks Bitcoin impact on the economy of the country.Thats why government this announced illegal i think its big reason.
You have some wrong information, bitcoins are not illegal in Asia.
because it is out of government system
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
Which countries in Asia are you talking about? Asia is big Japan is in Asia as well as China but they are leading in bitcoin. Philippines also is in Asia but i haven't heard it forbidden there.
OK .One way to protect your USD BTC and Other crypto you need exchange on Ethereum and Doge - because 100 billion and can t not cost 4000... (chine said that expensive btc is dangeros for economice) Other crypto Chine make down.
But in November again all on Btc
But in November again all on Btc
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
Legality by Asian countries:+China: Restricted - Exchanging bitcoins by people is lawful in China.
+Hong Kong: Yes - In any case, the power will be firmly viewing the utilisation of bitcoins mainly and its improvement abroad.
+Indonesia: Restricted - All risks regarding ownership or use of Bitcoin are borne by the owner or user of Bitcoin and other virtual currencies.
+India: Restricted - India presumes that Bitcoins can be utilised for hawala exchanges and subsidising terror operations.
+Israel: Yes - The Israel Bar Association considers the virtual money a fitting type of installment for lawyers.
+Japan: Yes - You know! sure
+Kyrgyzstan: No - According to national law, the use of bitcoin and similar currencies is illegal.
+Malaysia: Unrecognised - The national bank won’t direct Bitcoin operations right now, and clients ought to mindful of the dangers connected with bitcoin use.
+Philippines: Yes - Bangko Sentral ng Pilipinas (BSP) will be monitoring the possibility of Bitcoin usage in money laundering and other illegal purposes.
+Russia: No - In February 2014, Russia’s Prosecutor General’s Office guaranteed that bitcoin is a cash substitute and “can’t be utilised by people or lawful elements.” In September 2014, Deputy Finance Minister Aleksey Moiseev reported that a law will be gone by Spring 2015.
+Singapore: Yes - Organisations that have an arrangement with bitcoin money trades will be saddled in light of their offers of bitcoins.
+South Korea: Yes - There are no regulations in South Korea regulating the utilisation of bitcoin at the moment. On December 12, 2013, the president of the Bank of Korea recommended at a press conference that bitcoin be regulated in the future.
+Taiwan: No - Alongside China, they have discharged a joint articulation against the utilisation of bitcoin. Truth be told, controllers have even went as far as to piece endeavors of establishment of Robocoin ATM. While bitcoin itself is not illicit, endorsements for bitcoin ATMs have been disallowed.
+Thailand: No - A Bitcoin startup denied a business permit which was supposedly informed that purchasing and offering bitcoins, utilising bitcoins to purchase or offer merchandise and administrations, and moving bitcoins all through Thailand were all presently unlawful.
+Vietnam: Restricted - Being one of the rare countries to ban bitcoin outright, the use of bitcoin in Vietnam is restricted. Despite this, there are still some small businesses that accept bitcoin.
+Turkey: Yes - Bitcoin is not regulated as it is not considered to be electronic money according to the law.
This is very interesting. It's good to see the number of countries in Asia which accepts and recognizes Bitcoin. I'm a bit surprised about China because I thought that they would outrightly ban Bitcoin, basically they want control for themselves. They even have their own Google, and their internet is basically regulated.
To answer your question OP, I think the reason why some countries in Asia chose to ban Bitcoin or recognize it as illegal because they are mostly traditional and conservative. Some countries are very firm with their religion, customs and traditions and maybe there's something about Bitcoin that they don't like. Most traditional entities reject new concepts and change, because they'd rather stick to the old ways. Another reason may be for security, perhaps they just wanted to avoid some illegal activities done with the use of Bitcoin.
There are some countries that prohibit the usage of bitcoin in their countries because bitcoin has been used for illegal activities and some terrorists as what they say so as for protection for them, they totally made bitcoin illegal in their countries for them to avoid something like this happening. Some countries also ban it because it is prohibited in their religion to participate in gambling activities and some illegal activities.
I obviously did not see a ban on religious reasons, but what you say makes sense to me, there are millions of people on earth who still have their lives based on religion, I think these people will look at bitcoin with evil eye.
There are some countries that prohibit the usage of bitcoin in their countries because bitcoin has been used for illegal activities and some terrorists as what they say so as for protection for them, they totally made bitcoin illegal in their countries for them to avoid something like this happening. Some countries also ban it because it is prohibited in their religion to participate in gambling activities and some illegal activities.
There are some countries that prohibit the usage of bitcoin in their countries because bitcoin has been used for illegal activities and some terrorists as what they say so as for protection for them, they totally made bitcoin illegal in their countries for them to avoid something like this happening. Some countries also ban it because it is prohibited in their religion to participate in gambling activities and some illegal activities.
Have you read this somewhere? I would be interested if you have the link.
For the first reason, it seems to be strange reason, make bitcoin illegal won't stop people to do illigal activities...
There are some countries that prohibit the usage of bitcoin in their countries because bitcoin has been used for illegal activities and some terrorists as what they say so as for protection for them, they totally made bitcoin illegal in their countries for them to avoid something like this happening. Some countries also ban it because it is prohibited in their religion to participate in gambling activities and some illegal activities.
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
Some country forbid bitcoin because of security reason for example bitcoin can be use for money laundry that usually being use by corruptor , terorrist able to use bitcoin to cover their trace, ransonware ,and more advance criminal in the future
I don't think it is illegal. I've heard Japan already legalized bitcoin and they just did nice for welcoming bitcoin for their economic growth. ....
Every country have their own tolerance or policy for bitcoin
India is the largest democracy in the world. Bhutan, Georgia, Indonesia, Isreal, Japan, Mauritius, Mongolia, Nepal, Pakistan, Philippines, South Korea, Sri Lanka, Taiwan are all democratic countries. Asia is not all about China, North Korea or middle east.
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Most of the countrys of Asia are not interesting about Bitcoin. I think they are backdated in technologies. Many of them have some law in Financing sector does not allow bitcoin.
I don't think so dude. In asia bitcoin is illegal cause the gorvenment can not control bitcoin transaction, it's really hard to know exactly who made transaction. Because of this case, a lot of people have take advantages of it to do some bad things such as money laundering or tax evasioni think in asia, the government is not giving any statement about bitcoin is legal or illegal and they allow their citizen to use bitcoin but people can not use bitcoin to buy in local store and only can use bitcoin in online store. beside that, bitcoin is not illegal in asia, maybe only a few people that using bitcoin for illegal activity.
Most of the countrys of Asia are not interesting about Bitcoin. I think they are backdated in technologies. Many of them have some law in Financing sector does not allow bitcoin.
I don't think so dude. In asia bitcoin is illegal cause the government can not control bitcoin transaction, it's really hard to know exactly who made transaction. Because of this case, a lot of people have take advantages of it to do some bad things such as money laundering or tax evasion yes you are right recently pakistani govt is announced Bitcoin is now illegal in Pakistan, there is many factors of this,
1: bitcoin have nothing any tracking source.
2: every scammer and criminals are using bitcoin for money transfers which is bad for every country.
3: many peoples are doing scam with using name of Bitcoin like , OneCoin, LifeCoin etc and you know About Dr Ruja who is doing biggest scam in online market via BTC and onecoin there is nothing any type of tracking in BTC trx's so that's why Govt's are converting it into a illegal Currency.
if you know about more you can search scam list via btc in google
hope the done your question
Dear can you tell me the source or news article that Pakistan government has declared bitcoin illegal because I can't see any 1: bitcoin have nothing any tracking source.
2: every scammer and criminals are using bitcoin for money transfers which is bad for every country.
3: many peoples are doing scam with using name of Bitcoin like , OneCoin, LifeCoin etc and you know About Dr Ruja who is doing biggest scam in online market via BTC and onecoin there is nothing any type of tracking in BTC trx's so that's why Govt's are converting it into a illegal Currency.
if you know about more you can search scam list via btc in google
hope the done your question
It would be very helpful
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