Topic: Will bitcoin in Southeast Asia be legal? - page 17. (Read 4618 times)
Currently Bitcoin and Cryptocurrency are not yet fully legal in Southeast Asia, but I am sure that in the next 5 years more countries will legalize Bitcoin, such as Indonesia and Singapore.
Data released by GSMA Intelligence demonstrates that Southeast Asian mobile phone penetration contributes over 5.2% to the collective GDP of the Asia-Pacific region, which is anticipated to account for almost two-thirds of new subscribers globally by 2020.Cryptocurrency adoption may be progressing slowly internationally, but the Southeast Asian economy is already pushing toward a decentralized world in which payments, loans, and international transfers via cryptocurrency are an everyday occurrence
Bitcoin seems to be much more popular in Asia than in the United States. Asia has to make it legal everywhere or there will be mass riots by the citizens.
Because to my knowledge there are several countries in southeast asia that have not legalized bitcoin. And what is our endeavor for bitcoin in southeast asia to be legal like any other country (which has legalized bitcoin).
Bitcoin is already legal payment in Japan. I believe other neighbor countries will follow the footsteps of Japanese government. In many Asian countries it is not illegal although there are still no clear regulation regarding cryptocurrency. They are still in the process of getting research and how will they regulate cryptocurrency. Will the impact be positive or negative?
Because to my knowledge there are several countries in southeast asia that have not legalized bitcoin. And what is our endeavor for bitcoin in southeast asia to be legal like any other country (which has legalized bitcoin).
In Southeast Asia many countries have banned Bitcoin and Crypto, in my country, this also happens. But I realize that there is a big country in Thailand that accepts it as a form of payment and has a large list of stores accepting Bitcoin.Will the impact be positive or negative?
I am believe cryptocurrency will be legal in south east asia. Not only in south easth asia, i am believe many county in the world will regulate it because cryptocurrency is advantages of technology and its more safe than paper money
Yes of course ! But still it depends to the government running that particular country , and based on my some research ,some countries are trying to making of starting some steps for bitcoun to become legalize.
In my opinion and base in my research doing some of Asian countries has already making process or steps on things how bitcoin will completely be legalized in their countries but at the same time those countries already done some good things like legalizing bitcoin exchanges into their own countries currencies and we know in the future a lot of governments around the world will also taking the same steps how they will get into the world of crypto currency.
Some of the Southeast Asian nations, such as Thailand, Vietnam and Indonesia have taken a very hostile approach towards Bitcoin. But at the same time, Singapore has tried to legalize and regulate the crypto market with a lot of success.
Because to my knowledge there are several countries in southeast asia that have not legalized bitcoin. And what is our endeavor for bitcoin in southeast asia to be legal like any other country (which has legalized bitcoin).
In the future bitcoin can be legalized in Southeast Asia, I'm sure of that. If it cannot be applied in all regions of the country, it can be applied in special zones such as tourist areas or special autonomy. Because refusing bitcoin means avoiding future money, in digital times all conventional things will be left behind. Likewise with financial transactions. Will the impact be positive or negative?
Of course there are great positive impact to Bitcoin once it is legalized in south east Asian countries. The more people will be interested on it, it will give people more confidence in using Bitcoin at the same time they will feel more secure in using it since it is already legalized. Their country and people will be able to maximize the great things that Bitcoin can bring to their lives.
Southeast Asia is the biggest user of bitcoin after japan, and this certainly has a big impact on transactions there, I'm sure with the increasing number of users in southeast asia it will make legal bitcoin someday.
I think other countries in South Asia will receive bitcoin within three years. This is only my prediction about this problem.
because bitcoin day after day will be accepted in every country, this is my dream. India is a country in South Asia, if I'm not mistaken, they ban bitcoin, and once again they open the door to bitcoin. At the moment, India is trying to pull bitcoin under regulation.
I was redundant that the Japanese government is preparing to license the cryptographic market. I take it off legally in the countries it is currently in
Because to my knowledge there are several countries in southeast asia that have not legalized bitcoin. And what is our endeavor for bitcoin in southeast asia to be legal like any other country (which has legalized bitcoin).
Will the impact be positive or negative?
In South East Asia county growing people who involve and invest in cryptocurrency very fast. Beside that, many new project come from south east asia that need attention from government. I am believe in near future, government in south east asia will regulate bitcoin because they must want to collect taxes from bitcoin transaction
southeast Asia country Thailand has shown that governments can provide clear regulation on cryptocurrencies. it enacted a regulatory framework for ‘digital assets and digital tokens.’ The bill sets out requirements for ICOs to register with the Thailand SEC to make sure that they comply with current laws. Although the taxes are currently quite high, it proves that governments can successfully regulate the industry.
The crypto market is making a great impact on south-east asia' society, the cause of this is the extreme use of mobile phone in common tasks like online payment and banking.e.g, a most popular payment platform here in south-asia named Linepay and Wepay, but still this is not enough, the people always look for a most reliable and fast payment platform and hence it is possible that bitcoin will be regulated as payment platform and be legalized.
It will be legalized every corner of the world but it will take time as many countries are moving forward to regulate this market and if they regulate then it will be automatically legalized but it is not legal till now in most countries except some countries as per my knowledge.
It is hard to convince the government to accept Bitcoin as Bitcoin in particular and virtual currency in general have weaknesses that we all know. The decentralized and anonymous transaction is an optimal solution when Bitcoin is created, but it causes Bitcoin's ability to lose control. Government does not accept Bitcoin as well.
I think almost of the countries in southeast Asia are already accepting bitcoin or regulatedalso cryptocurrency. This in fact Philippines as one of the southeast Asian countries who embrace the used of cryptocurrency and in return regulating for the possible abusive form of use on it. But still the bitcoin in southeast Asia is not considered as legal because there are still few countries who are not yet familiar with bitcoin or cryptocurrency.
I am from Brunei, small nation on the island of Borneo. Bitcoin and other cryptocurrencies are not illegal here, just not regulated. The government constantly reminds us about the risk surrounding cryptocurrency but acknowledge the importance of Blockchain technology.
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