bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
im from asia too but i have not heard from any country here in asia that bitcoin is banned all throughout that specific country, there is always news that bitcoin is banned on China but they still do have transactions and almost all the holders and traders are on China, here in the Philippines theres no banning about bitcoin, the government just warns people on bitcoin because of there are few people who are linking bitcoin in there business investments scams. Not all people here knows bitcoin and it is 20% to 30% who knows and heard it here 
Topic: why bitcoin illegal in asia? - page 8. (Read 13611 times)
I think this question is really alarming false for now. So far as I know more countries in Asea recognized bitcoin on their country. Like Japan, Philippines, and Korea. Today's question is why bitcoin is more legal in Asea than other countries? Bitcoin now becoming more popular than before in Asea.
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
The status of bitcoin legality varies by country. It all depends on each regulation set by its government.
His example in Bangladesh clearly says that whoever is caught using this virtual currency will be jailed under government regulations under anti money laundering legislation.
Whereas in my country that is
In Indonesia alone bitcoin and transactions using bitcoin are considered legal. This is because there is no clear regulation from the government whether bitcoin is prohibited or not.
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
Let me have some correction please, not all asian countries made bitcoin as illegal. I also live in asia and in my country bitcoin is getting popular here now a days. My fellow countrymen even got interested in investing in crypto and i lso heard about bitcoin on our daily news and the goverment didn’t mind about it.
I believe that it is not profitable for the state, anyhow, to distribute the crypto currency, since such transactions are not taxed, and the state is held by taxpayers. While there are no methods to withhold tax from the crypto currency, it will be illegal. It's my personal opinion.
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
I think Bitcoin is not illegal in Asia even during this date of your post except for those identified countries like Sri Lanka, Indonesia, India, Kyrgyzstan, Taiwan, Thailand and Vietnam. But these are only few Asian countries that bans Bitcoin compared to those Asian countries that accept Bitcoin. These countries are i think are close minded countries in which they think only for themselves but not the entire welfare of their citizens in which there is regulation in order to prevent Bitcoin to be use in illegal activities which is the most likely reason.
Governments are caught unprepared for crypto money. At the moment there is not enough equipment in the financial system to track crypto money. In addition, there are black market money laundering from criminal events and tax avoidance problems
Asian countries want to pay tax to the countries but as every one knows Bitcoin transaction has no such type of technology like fiat currencies bank accounts, and are hidden transactions as per personal identifications and they though in near future it may cause big problems in terms of money laundering and other crime involvement.
it's because the government couldn't implement tax on it, nor regulate it. plus they dont trust the concept of btc. so they just list btc as illegal trading, name it bubble and whatever. however, it might take more time for asian country for accepting btc, maybe years of decades later 
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
In Asia, each country's attitude towards bitcoin is different. India and China do not accept bitcoin, and they monitor bitcoin transactions strictly. In Japan, the government accepted bitcoin and encouraged people to participate in it. bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
my country is living in Asia. They still banned the use of bitcoin coins for trade. I hope the national government will give up the bitcoin ban which will accept bitcoin as banks Singapore
Singapore's central bank has issued a public warning regarding the risk of bubble virtual currency. The Monetary Authority of Singapore declares that cryptocurrency is not protected by any central bank in the world and is illegal, meaning that those who suffer losses in their investment do not get Singapore's legal protection.
In Philippines, it is still in a debate if they are going to legalize bitcoin or not, because they want things to be in order and with effort as their basis on decision, but on the other hand, we are free to do things, so it is just same as legal the difference is it is not yet declared. Singapore's central bank has issued a public warning regarding the risk of bubble virtual currency. The Monetary Authority of Singapore declares that cryptocurrency is not protected by any central bank in the world and is illegal, meaning that those who suffer losses in their investment do not get Singapore's legal protection.
Singapore
Singapore's central bank has issued a public warning regarding the risk of bubble virtual currency. The Monetary Authority of Singapore declares that cryptocurrency is not protected by any central bank in the world and is illegal, meaning that those who suffer losses in their investment do not get Singapore's legal protection.
Singapore's central bank has issued a public warning regarding the risk of bubble virtual currency. The Monetary Authority of Singapore declares that cryptocurrency is not protected by any central bank in the world and is illegal, meaning that those who suffer losses in their investment do not get Singapore's legal protection.
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
I am living in an Asian country. Here either its not illegal or illegal. Government has not yet proclaimed anything. But the government is aware of its existence in their country. They have even planned to introduce its own new crypto coin. We have another business man planning to launch its own crypto currency forming a team under his son. Hope bitcoin is adapted very soon and announced as legal.
bitcoin illegal some Asia country but why?can you give me some reason about this?? thanks
Many of the factors why Bitcoin is illegal in some Asian countries. What I know is probably because Bitcoin is fluctuating, nothing is set, free, and the most feared of Bitcoin is Bitcoin can be used in terms of crime and so on.
Its illegal because in their place they have already good money and they not need anymore a digital money or they afraid that their own money or they judge bitcoin first and not knowing this.I think if they not acknowledge bitcoin its not good for them because its give so much conveniece in life and it gives so much fun for reading different ideas in world of trading and transaction.
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
The main reason of why there still some countries that not implementing bitcoin is because they see bitcoin as a threat on their economy or society. Which is far from reality, bitcoin really helps a lot. But theres a but such as my country philippines , the government is planning to legalize the bitcoin on our community which is a great idea and such as the india , korea and many more, i cant wait to see that its now legal on worldwide.
In Asia, South Korea's Financial Services Commission (FSC) confirmed new rules, already trailed in advance, that anonymous accounts would no longer be allowed in the country. A statement from the FSC said: "Those who do not have their real-name accounts at the same bank with the exchanges will not be allowed to make new deposits into the exchanges' accounts. They will be only allowed to make withdrawals."
Also, persons who do not have bank accounts in the country would no longer be able to open accounts on South Korean crypto exchanges. And, as was also announced a couple of weeks ago, minors would be barred from buying crypto.
Also, persons who do not have bank accounts in the country would no longer be able to open accounts on South Korean crypto exchanges. And, as was also announced a couple of weeks ago, minors would be barred from buying crypto.
Bitcoin in Asea is not illegal at all. There are nations that welcome the system of cryptocurrency in their country. Japan is in Asea, India is in Asea, Philippines is in Asea and there are more at the present planning to welcome also this new order of business through digital to outside computer. Every day there are developments. So everyday there is possibility that another country will recognize bitcoin. Then few years from now we can see bitcoin in Asea as the more active continent that recognizes bitcoin. Let us wait some more times to Asian people who welcomes bitcoin.
I live in asian country and bitcoin is not illegal here yet there are country in asia who banned bitcoin as i've heard but most of it accepted bitcoin and patronized by asian people. Like in my country, government here is starting to recognized bitcoin as one of a currency uses by my fellow countrymen. And hoping that soon there are establishment that accepts btc as mode of payment here.
Maybe the Op were referring to almost Asian countries who banned bitcoin, but you are right not all and some countries still in the process of evaluating about the negative and positive side of bitcoin in our life and to the economy so some are still free to do cryptocurrency. Jump to: