The biggest market in the southeast Asia is India it being the sixth largest economy of the world.If Bitcoin becomes legal there it will be a short in the arm for Bitcoin but for it to become legal in that market is quite difficult.there are no of reasons like
There is no news from the local government regarding rules that are to issued regarding cryptocurrency.
As it is a big market introducing a new currency is quite difficult.
Large economies are hard to get into but once you are in it's like a jackpot.
Topic: Will bitcoin in Southeast Asia be legal? - page 28. (Read 4618 times)
It will be possible first we had Philippines to accept bitcoin system and regulate. Then we have china that has been set their regulations and accepted cryptocurrency. Aside from that we have Japan of course, and south korea where there are new and many investors coming up daily which results to high demand for cryptocurrency. There are other countries also in southeast Asia that has already accepted and regulated crytocurrency so there could be really a big chance that cryptocurrency will be legal in southeast ASIA.
I have not seen it clearly. may still have to wait much longer for legal bitcoin in southeast asia. Because bitcoin currently still takes time for it all. So be patient and wait. It might be something positive if the bitcoin is legal in southeast asia.
In the near future, for sure, all countries will do legal crypto currency, which means that this will happen in South-East Asia too. Look at the latest news, they are very positive.
I think one day all countries will allow Bitcoin. South Asia countries will use their economic potential. The crypto market is moving forward, not far away. They will occupy a place in South Asia with the secrecy and security of their work.
Some country of south asia totally take their place against cryptocurrency. And some country’s still neutral about cryptocurrency. There are many internal reason for showing their stance.
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?
Bitcoin is staring to kick off in the region of Southeast asia. Many people starts to used this since it is an easy access and conveninet. But still.many country dows not legalized the used of bitcoin. I do believe that everyone would benefit if bitcoin would be legalized.
I hope all of the countries in southeast asia will allow bitcoin users to transact freely although in my country which is philippines legalized the use of bitcoin but they did not endorsed it to the people because they are afraid of the risk that bad people will bring dirty money to the country through bitcoin..
You can check out on this link if you want to know more about the status of bitcoin in the philippines.
https://bitpinas.com/cryptocurrency/is-bitcoin-legal-in-the-philippines/
You can check out on this link if you want to know more about the status of bitcoin in the philippines.
https://bitpinas.com/cryptocurrency/is-bitcoin-legal-in-the-philippines/
It is not really illegal, on the other hand it is not also legal because there are now laws about this in many country.
I think will Bitcoin can become a legal currency in Southeast Asia. Already at this moment, some countries are accepted bitcoin payments. I saw they can buy vehicles, foods, clothes using Bitcoin payment. By the way, all people are very like to BTC payments because It is very safe and fast and easy to use. I think definitely, BTC can become a legal currency in southeast Asia and worldwide legal currency.
There are many of the country in Southeast Asia that accepts Bitcoin as payment and many of the people that joins in crypto and already earning. There is also local exchange being used to easily transact faster and easier. I am hoping that bitcoin can apply on the market and used as payment and everywhere can access on the internet because it could help for a good improvement of the economy.
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?
The adoption of Bitcoin is progressing slowly in SouthEast Asia, I believe Southeast Asia has embraced the Blockchain technology revolution. Bitcoin and Ethereum are being considered widely in real-world applications and the mass adoption in Southeast Asia is a distant goal.
In the Philippines, our Bangko Sentral ng Pilipinas (BSP) issued BSP Circular No. 944 which was approved on February 6, 2017, and published in a newspaper of national circulation on February 9, 2017. In essence, BSP Circular No. 944 requires a virtual currency exchange that deals in Bitcoin to obtain from the BSP a Certificate of Registration to operate as a remittance and transfer company.
I think will Bitcoin can become a legal currency in Southeast Asia. Already at this moment, some countries are accepted bitcoin payments. I saw they can buy vehicles, foods, clothes using Bitcoin payment. By the way, all people are very like to BTC payments because It is very safe and fast and easy to use. I think definitely, BTC can become a legal currency in southeast Asia and worldwide legal currency.
India is in South Asia not South-East, what the topic is about, and they HAVE NOT banned bitcoin.
And there are some people that claim the average bitcoin user is more knowledgeable ....myth busted.
Can't you people just open a map before typing stupid things here?
Now, when it comes to SE Asia the situation is really really bad, probably the worse region in the world:
Vietnam - Illegal as payment tool
Thailand - Banking ban
Indonesia - Illegal as payment tool
Cambodia - Illegal
You'll only Get Sanctioned If You're A Merchant That Accept Bitcoin
You'll Not Get Sanctioned If You Bought Something With Bitcoin Here
Also It's Still Legal To Trade,Mine Cryptocurrencies here
Most economies in Asia are currently growing. For such economies, the legalization of Bitcoin will bring more harm than benefit. So I don't think there will be any news about the legalization of the crypto in this region any time soon.
It will be legal oneday... Blockchain is future and many people realize crypto is potential to reclaim... Many people in many different countries are investing in crypto world, they do believe in its growth.
As far as I know, bitcoins are already running in some countries of Southeast Asia like Japan, China and etc. But there is no accurate informations about it's legality because in our country which is also part of the said continent, bitcoin and cryptocurrency are not legal. Although, our government made digital wallet to used in buying cryptos, but still is not recognized as a legal currency.
Many countries in Asia and the Southeast also have already taken bitcoin. Some countries hope for legalization in the near future, as this will increase the employment and income of citizens.
In the future to come , the bitcoin might be legal someday in the countriez of southeast asia region, because there are news but it should be confirmed that that thailand a country in southeast asia is beginning to accept cryptocurrency in their country, so it will open doors for the other neighboring countries here.
I am sure that bitcoin will be legal in southeast asia and bitcoin will reach more people so bitcoin can grows fast. not just in shoutheast asia, but bitcoin will be legal in all country in the future because can give many advantages for each people so they can have another way to make money. soon, people will realize that bitcoin offers something to them and if they don't use this, then they will be too late to join in bitcoin.
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