Topic: Will Bitcoin will be declare as legal or not ? - page 12. (Read 7369 times)
I think the question posted here is too broad. For one, we all know countries have independent governments which means that various countries have different laws, rules and regulations. It depends, too, on the needs of its citizens. Of course, I am all for the idea of opening our arms to the new era whereby almost everything exists in the web. All they got to do is to have an internet connection, right? But what Bitcoin came up with is that it effectively drew a line between its unregulated existence and that of the norm. So I guess it would have to do some workaround to legally exist. Otherwise, governments might come up with an international decision to ban the proliferation of these unregulated coins.
If the government declare that bitcoin transaction is not prohibited in their country we can say that selling bitcoin is illegal and do not used bitcoin on that area, but if there is no declaration about legalities of bitcoin i think using and selling bitcoin is not illegal, like here in our country we can used bitcoin freely even our government not yet adopt crypto currency.
I will back on the question of OP, i want to know also if what happen on bitcoin in INDIA? Since this topic was open mid quarter of this year.
That will change the fact that the government will declare bitcoin a legitimate transaction? Why do it at all? Everything that is not forbidden by law is permitted. The government will not recognize bitcoin ever. It is difficult to monitor and it creates outflow of investment from the economy. Indians no more stupid than all the others. I will back on the question of OP, i want to know also if what happen on bitcoin in INDIA? Since this topic was open mid quarter of this year.
If the government declare that bitcoin transaction is not prohibited in their country we can say that selling bitcoin is illegal and do not used bitcoin on that area, but if there is no declaration about legalities of bitcoin i think using and selling bitcoin is not illegal, like here in our country we can used bitcoin freely even our government not yet adopt crypto currency.
I will back on the question of OP, i want to know also if what happen on bitcoin in INDIA? Since this topic was open mid quarter of this year.
I will back on the question of OP, i want to know also if what happen on bitcoin in INDIA? Since this topic was open mid quarter of this year.
The real question is : Can it really be illegal ?
What would happen if it become so ?
What would happen if it become so ?
Already many countries have given green signal to Bitcoin payments in their country. But for each country has their own regulation and rules they need to follow those in order to legalize. Otherwise, they have to setups new act for accepting Bitcoin in their country, so these things will take some time.
I think governments cannot ban BTC, and they will want to be in the ship with all of us to earn money. greed 
To declare bitcoin legitimate, or not, this is an internal matter of each state. Now we can say with confidence that each state will have to consider this issue and most countries will recognize bitcoin as legal tender.
Now the government of India still decides to recognize the crypto currency in their country as a means of payment or not. The Central Bank of India noted that there are certain problems in this issue, that there are some risks associated with the passage of the crypto currency, but then they allegedly decided to legitimize it. As it will be seen in the near future.
How about in ASIA what countries do bitcoin accept as legal according to their constitutions? Is there any that 100% legalize? Thanks.
The country country in Asia that has declared bitcoin legal is Japan. Its the first country to do so. But I don't know if other country will make it legal though. There's a lot of debate inside and outside of a particular country so it make take years before another one legalized it. Its more of putting a regulation so that it will not be abuse or give protection to their citizens. That's is the main point of the Central Bank, because bitcoin is decentralized and they can't control it that's why bitcoin has getting a hard time being legalized.
http://www.businessinsider.com/bitcoin-price-spikes-as-japan-recognizes-it-as-a-legal-payment-method-2017-4
I believe they will declare it legal in the end. Even now in some European Countries there are Universities that accept payments for the tuition fees with BTC
Do not think they will declare it legal because they may try to bring their own currency which government will have control and would like to use that only so that it could be tracked easily and it will be under govt purview. Slowly they will put a ban on all other currency I think so or as per even some of the country view it seems to me the case.
How about in ASIA what countries do bitcoin accept as legal according to their constitutions? Is there any that 100% legalize? Thanks.
The country country in Asia that has declared bitcoin legal is Japan. Its the first country to do so. But I don't know if other country will make it legal though. There's a lot of debate inside and outside of a particular country so it make take years before another one legalized it. Its more of putting a regulation so that it will not be abuse or give protection to their citizens. That's is the main point of the Central Bank, because bitcoin is decentralized and they can't control it that's why bitcoin has getting a hard time being legalized.
http://www.businessinsider.com/bitcoin-price-spikes-as-japan-recognizes-it-as-a-legal-payment-method-2017-4
I believe they will declare it legal in the end. Even now in some European Countries there are Universities that accept payments for the tuition fees with BTC
What I see in all this is that countries are actually sitting on the fence on the issue of whether to declare illegal. Rather they choose the word ban because that would mean they can wake up tomorrow and spin the news that it is now unban or that citizens can now participate after they meet some certain conditions. However, no one actually knows but what I am sure is that they are equally observing the way things are going.
How about in ASIA what countries do bitcoin accept as legal according to their constitutions? Is there any that 100% legalize? Thanks.
Nobody can guarantee which countries will or will not legalize it; especially when talking about multiple countries. Hypothetically, every government may legalize it, but nobody will give 100% guarantee. But it's the same for any currency, or more broadly, any phenomenon on the market: you can't be completely certain in many issues, especially with regard to various legal/political regimes of each country.
One could suggest that it will be legalized globally, however it's unclear how much time this process can take.
How about in ASIA what countries do bitcoin accept as legal according to their constitutions? Is there any that 100% legalize? Thanks.
Bitcoin is already legal in many countries, and it's perfectly possible that in the close future it will be accepted just as widely as any usual state-regulated currency. Today it's already possible to say that more and more people find Bitcoin more reliable and applicable to use than usual currencies, and this certainly will influence its legal status in the future.
Although this question is rather of a political nature; democratic societies with stable and transparent economies are more likely to accept cryptocurrencies legally.
Although this question is rather of a political nature; democratic societies with stable and transparent economies are more likely to accept cryptocurrencies legally.
Maybe in the next few years it will be declare as legal because there are many users right now. So this Bitcoin will be known and will be legalize and have many obligations to pay. But in my opinion, I would be happy if bitcoin will not be legalizing because there is no need to pay tax.
Actually Bitcoin has many advantages for its users, but if the user is using Bitcoin for criminals of course the government will stop it. And that is certainly a matter of consideration for the government whether Bitcoin will be legal or not.
As government of india is moving to electronic methods of payment, i feel bitcoin can be declared as Legal but with certain rules and regulations. It would take some time to formally declare or consider it as legal.
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