Topic: why bitcoin illegal in asia? - page 9. (Read 13880 times)
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.
bitcoin is not illegal all over aisa its in some country only and some country not able to decide how to regulate it.
i think bitcoin is illiegal is just government dont have that digital vision globally.
As far as I know bitcoin is not illegal in my country maybe for now since our government doesn't give much attention to bitcoin or crypotocurrency right now. I hope they will not ban bitcoin when the time come, I don't care if they will implement taxes for bitcoin or any crypto as long as they wont tag it as illegal.
bitcoin illegal some Asia country but why?can you give me some reason about this?? thanks
Bitcoin is illegal in some countries because the Government of that country does not accept the presence of Bitcoin in its country. And the country banned all Bitcoin-related. Probably because Bitcoin is not regulated by anyone and is still free. This is why some countries do not legalize Bitcoin. 
Governments fear that there will be cases of using digital money for tax evasion, money laundering or financial terrorism.
fear of serious financial risks
fear of serious financial risks
If someone want to engage in tax evasion or money laundering, there are far better options available to them. It is interesting that the governments are not taking any action against the tax heavens such as Cayman Islands and Bahamas, and at the same time going ballistic after the crypto-users.
I think you should not mention the entire continent. Bitcoin is illegal in Nepal, initial coin offering is ban in China and South Korea. Some countries have strict regulations about trading and exchanging bitcoin and cryptocurrency. It's not illegal in the Philippines, the bank central issues a permit to cryptocurrency exchanges.
bitcoin illegal some Asia country but why?can you give me some reason about this?? thanks
The reason Bitcoin is still illegal in Asia is very much. What I know may be one of them because the Bitcoin price is lucrative. So Governments across Asia do not want to risk too much.bitcoin illegal some Asia country but why?can you give me some reason about this?? thanks
The reason Bitcoin is still illegal in Asia is very much. What I know may be one of them because the Bitcoin price is lucrative. So Governments across Asia do not want to risk too much. Governments fear that there will be cases of using digital money for tax evasion, money laundering or financial terrorism.
fear of serious financial risks
IRS not illegal government of a country don't want a thing they can't control just like crypto ccurrency they have to make a move if they don't collided with it the only way is to totally banned it
In order to say that an act is illegal there should be a law that define its legality. Illegal is different from prohibited, Bitcoin is widely used in Asia so to say it is allowed and not illegal. Some Asian countries issued regulations on the used of Bitcoin. As to the question "Why Bitcoin is illegal in Asia, read first before posting a question so that it has a direction." When we raised a question it's either you want to clarify things or you have zero knowledge on it, but given the evident scenario in different forum in Bitcoin, I presumed that you've heard a thing or two regarding the legality of it, so there is no need to post it again, rather read more. I wonder, is there someone who monitor all the ideas posted in this site? There should be a control so that it would be more organize.
Regulators in Asia Pacific have become increasingly uneasy with the rise of cryptocurrencies such as bitcoin. ... Philip Lowe called the fascination with virtual currencies a "speculative mania" and added that bitcoin is more likely to be attractive to those transacting in the illegal economy, than consumers
may be their economy is rich enough without it...
even though it shouldnt be illegal...
even though it shouldnt be illegal...
I have not heard of this before. Is it their governments are more interested in controlling everything.
DBS is Southeast Asia's largest bank and strongly believes in technological advancements. DBS group technology director David Gledhill said it considered bitcoin to be a ponzi scheme. The ponzi scheme is an illegal investment mode that gives investors an advantage of their own money or the money paid by the next investor. Profits are not obtained from individuals or organizations that run investment activities.
In Japan, Singapore and South Korea Bitcoin is legal and I think it's a big win for a world crypto market! 
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
There are lot of countries in Asia therefore you should mention which country declared Bitcoin is illegal but lot of countries adopted Bitcoin as a legal for investments particularly Japan in which is in process to make Bitcoin as an optional use as salary payment. Only few countries are banning Bitcoin compare to the numbers of willing to adopt Bitcoin in which most of their reason of banning is connected to patriotism.
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
There are lot of countries in Asia therefore you should mention which country declared Bitcoin is illegal but lot of countries adopted Bitcoin as a legal for investments particularly Japan in which is in process to make Bitcoin as an optional use as salary payment. Only few countries are banning Bitcoin compare to the numbers of willing to adopt Bitcoin in which most of their reason of banning is connected to patriotism.
bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
Some Asian Muslim County bitcoin illegal.They think Bitcoin can not be seen,This currency will last one day.
They were concerned about the use of this currency.
They think these coins are used for bad things.
For this,these coins are banned in Asian countries.
The government want's to protect the innocent people who are recruited by those who are involve with ponzi scheme, pyramiding, networking and these scheme is rampant in Asian Country and now that bitcoin is very popular they use bitcoin as a front to recruit people.
Banning cryptocurrency to protect your people is not the solution either. Look at those countries who adopted bitcoin or any other crypto that are so successful right now like japan. Basically the government will look at it as a treat to their governance. Providing a better information to its people will solve the scam scheme not banning it.
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