Bitcoin Forum

Comming from a 3rd world country, many opinions around but not certain. The country gov. doesn't have official statement about crypto. There is a law that you cannot own a bank account abroad and that you can't own stocks outside of the contry. But i think crypto doesn't fit into stocks sector. What are your oppinions?

Everything is legal until the appropriate laws that make it illegal are established. Since the law decides what is and isn't legal, if there are no laws that say BTC can not function without proper regulations it remains legal. You are right thinking that BTC isn't a bank account nor stocks and since your wallet isn't assigned to your name you don't have to inform the government.
I hope that answers your question in full :)

Exactly. It is legal until declared as illegal. Although some countries may see it as the other way around (like Germany), most of the world is quite flexible about this. And the beauty of bitcoin is that no one will ever know that you have it unless you make it obvious that you have it.

So practice safety. Don't sign up for an exchange that requires ID verification if that could be a risk for you back home. Keep your bitcoin in a cold wallet where no one will ever know that you have it. Keep your keys somewhere where no one will ever find them. Bitcoin can only exist in your mind if you are quiet about it.

Technically speaking, it is neither a stock nor a bank account. So worst case scenario, you do get caught, you still have a way out. It's beyond borders.

I very much agree with your position. In the law practice, it is said that you don't put something on nothing and expect it to stand. Thus, if for instance, a jurisdiction has not enacted a law that defines a thing or practice as illegal, therefore that should continue to exist as legal until the appropriate body declares it as "whatever" by enactment.

To be criminalized in financial cases, there must be an exception in the law that criminalizes dealing with bitcoin and imposes penalties for anyone who trades using these currencies.
Based on the above,Bitcoin is not defined in your law. This means that you can not be legally criminalized.
But this does not mean that you are safe where there can be a law that prohibits the use of your local currency in any transfers outside the banking system
Ask a lawyer if you want to create a work "company/ business" based on cryptos/bitcoin.

The word unregulated doesn't means illegal.If something is not under the control of government it does not means that it is illegal.Let us talk about crypto's.In many countries it is not legal as well as illegal but still many exchanges are working with it and people are using it.So unregulated market is neither legal nor illegal.

Yes definitely, that is not illegal but not also legal. You know why? Because the government has nothing to do with cryptocurrency whether they regulate but still bitcoin has functional the reason is no one blame or no one behind in bitcoin currency.
Since they know that it is helpful to the economic growth and having a chance to contribute to the economic growth, governments now keep quite on this crypto world.

As others already wrote, if something's not specifically forbidden, it's not 'illegal'. That being said, your examples of gov's approach to foreign stocks and bank accounts shows high risk of cryptos getting delegalised or heavily regulated (ie. by dragging it under already existing definitions).

In such cases it's probably best to directly enquire with your authorities (preferably anonymously) and ask for clarification.

You indicate that under the law of your country of residence you can not have a bank account abroad and can not use shares. Crypto currency really can not be considered as a bank account or as a stock. For this, an appropriate normative act should be adopted, wherever a crypto-currency would be classified accordingly.
Also in all civilized countries, civil codes have introduced a rule that provides for the freedom of entrepreneurship and that everything that is not prohibited by relevant laws is permitted in business. That is, if the laws of your country do not yet regulate the crypto currency, you should consider it as a legitimate activity. However, one must clearly know the legislation of their country on this issue.

If your government don't have statement about Bitcoin in which they did not declare it ban but not illegal therefore you should rejoice because you could earn Bitcoin without tax and you should not wasting time of this once in a lifetime opportunity. About the government forbids us to have an account outside the county then well this is normal because this is to prevent the money laundering and terrorist funding activities.

In my country also the bitcoin is not yet regulated but it doesn't means it is illegal to use.The law that you mentioned that having bank account outside the country is illegal but bitcoin is just against the banks. :D
You no need to worry for now,you can buy and sell and store the bitcoins and other crypto currencies as your wish,before your government take a decision about the crypto currencies.

In my country so far, everything is fine, the ban does not work.

Why shoukd you define as legal or illegal. Just take a note, countries who adapted bitcoin have considered as legal and who are yet to adapt have not yet announced as illegal. It depends on the laws made by individuals. Its just the market competition between fiats and crypto currencies. When crypto stands up in the market, too many crisis do come hence it should not be considered as illegal. To be fact it aims to be legalised everywhere and is striving towards it.

it is true, crypto network does not need it because it crypto no one has it, freedom in using crypto become one of the flagship, can be used in various country and can be exchanged with country currency.

Came from you that your government doesn't have any official statement about crypto so as long as they are not mentioning that it is illegal, your in good hands.

A ban is only specific to a country's jurisdiction. You can't ban those people as well that are living offshore while the ban is only being implemented on your island/country.

You don't have to think about it as if you are violating your country's rule about it since there's none, just don't make yourself involve in such criminal and illegal use of crypto's.

I think unregulated market cannot be illegal except if declared so specially if you are referring to Bitcoin but if your government has already a policy that every unregulated product is illegal therefore it would be clearly an illegal until it will be regulated. Try to review your government policies regarding regulations then you will find your answers.

Whether regulated market or non-regulated ones, what matter is what is being done in that market because both regulated and unregulated, legal and illegal activities are going on but the assurance that regulated has is just that there is some checks and control when there is need for investigation, it can be traced and evidence can be garnered which makes the discussion to be around having a regulated market place not to eradicate illegal activities, but to put a tight leash around it.

From where you come from, there is need for you to really understand the laws of the country because for every law, there is always an exception. Just like mine too, there is a law against owning an account outside the country but this is only restricted to public officers alone like the civil servants and elected officials and not private citizens who have earned their money legitimately to have investment abroad. This also is would bring income to the country because when I invest abroad, I earn income from there which increase the GDP of my home country. Also, there is always a cap of the amount that can be kept abroad without raising any issue of illegality.

the bitcoin market arrangement is in fact not related to legal or illegal, but is affected by a government regulation or regulation that regulates the development or spread of the bitcoin.

With the impending banking ban by the Reserve Bank of India, cryptocurrency exchanges in the country are scrambling to find banking alternatives. Two Indian exchanges have announced that they are launching P2P crypto trading services which will allow traders to buy and sell crypto legally even after the central bank’s ban.

ragiantex.COM  P2P Service
ragiantex.com

With the banking ban by the central bank set to take effect on July 5, Indian crypto exchange ragiant.com has been working on a solution for users to buy and sell crypto without needing a banking service.

The exchange announced last week that it is launching a P2P crypto transfer service which it claims to be “the most legal way to buy/sell cryptos in India after the RBI ban”.

The buyer and seller can deal with each other directly while RAGIANT acts as an escrow account for holding the cryptos during the transaction so that neither party cheats the other.

RAGIANT releases the crypto to the buyer upon receiving a confirmation from the seller, he noted. “We verify the KYC details of every user before allowing them to trade on RAGIANT, and keep a record of each and every transaction that occurs on our exchange.”



Launched in March, RAGIANT currently supports the BTC trading pair



With over 100,000 users currently, he added that his exchange is the “fastest to list those many coins in India in such a short span of time.”
Planning for RBI’s Ban

The P2P trading service will launch once the RBI ban takes effect, Shetty explained. According to the central bank’s circular, the ban prohibiting banks from servicing crypto businesses will commence on July 5.

People have been worried about how they would convert their fiat (INR) to crypto and vice versa. As soon as we announced P2P there was a big sigh of relief as users in India realized there are alternatives to the ban.

Five known petitions have been filed with the courts against the RBI ban. The supreme court will hear all cases on July 20, except for one petition which was filed by the Internet & Mobile Association of India (IAMAI). This petition will be heard later. “After considering the urgency, the supreme court decided to hear this one out on 3rd which is before the RBI deadline,”  ragiantex is a member of this association as are some other major crypto exchanges such as www.bittsbase.com  and Zebpay also starting p2p services in India



YOU CAN BUY AND SELL BTC AFTER RBI BAN ON EXCHANGES THROUGH BITTSBASE.COM WHICH IS ESCROW SYSTEM  the most legal way to buy/sellcryptos in India after the RBI ban peer-to-peer model to facilitate virtual currency trade without using normal banking channels

All things that doesn't have a regulation of such government of a certain place or country cant really be considered either legal or illegal.I would say it is just on a neutral state. Each country do have specific or laws have been implemented into its citizens which needed to be followed but regarding to your question, crypto is entirely different to stocks but when it comes to ban or regulation then both can really be prohibited if they do wanted to.

There's also the issue of the government defining laws to serve their needs. I've seen that happen in many third- and second-world countries, and even sometimes in first-world countries (the police in the US are notorious for this). If they look at you as a big enough problem, they can basically formulate legislation on the spot to deal with you. This is also what all of these "obstructing justice", "treason", and "terrorism" charges are meant to be. They're entirely open to the interpretation of the arresting officer.

Even a comprehensive understanding of the laws and a good lawyer isn't enough in some countries if you're deemed an enemy of the state. Best just to be as low-key as possible.

The attitude taken by the government is what makes this legal or illegal, because sometimes it is not in the law of the state as long as it is not prohibited by the government then the law is legal

In other words, don't declare any of your holdings that haven't been purchased through centralized exchanges. I have always learned: what the government doesn't know can't harm you. I am a firm believer of that and will continue to have that be my main principle in life. I have seen how people out of nothing landed themselves in big financial problems just because they out of nothing declared wealth they never declared before. Instead of governments being happy that people are willing to pay tax, they punish them like they are the worst criminals in the world. It's insane that this happens, which just shows who the actual criminals are....

yes obviously over time will be legal, and by that time there is a clear order regulating bitcoin, this means bitcoins are already received in your area, without we having to tell people later that we are bitcoin users, because later they will find out for themselves.

If there are no official comments on bitcoin, or a particular crypto market, then it can definitely be considered to be legal. Bitcoin is decentralised, after all.

An unregulated market does not mean that something is illegal - it just means that there is no overarching regulation that is put in place yet. The government is most likely taking a neutral stance, or simply not bothered to come up with regulations.

Unless your government explicitly states that bitcoin is illegal, you should be fine with trading with it in private, conducting bitcoin transactions, or even using exchanges to trade. But due to the lack of regulation, there may not be local regulated exchanges to choose from, so do be careful when choosing your exchange.

If you have a crypto currency that is not regulated in your country yet, it can not be regarded as a bank overseas account or shares of enterprises. Decentralized crypto currency exists on the Internet, which is officially authorized in your country and its use is legitimate. The same applies to the crypto currency. In fact, the Crypto currency is one of the forms of doing business, and according to the laws of most countries it is legal, unless it is specifically prohibited. This is the general rule of business of all countries. Therefore, if the crypto currency is not regulated in any country, it should be considered a legitimate activity.

Yes most of the government still hasn't make a clear announcement about crypto yet, I think if there is still no announcement then the crypto is legal to used as investment, and for the payment, but most of the government already prepare to set regulation, so the best thing to do is to store and used crypto while the government still hasn't make any declaration yet

It would be the same in our country wherein there are no applicable regulation yet when it comes to cryptocurrency, but then the advantage of it is that they already issue licenses to some exchanges to operate so it would mean that they support cryptocurrency. As for OP's question, he should just use cryptocurrency maybe privately because it is not open yet as to how their government treats cryptocurrency. If it is not illegal, then I would assumed that it is deemed legal.


It would mean that it is not forbidden to trade or transact cryptocurrency. While you have the opportunity, then you should just trade and earn as much as you can because your government is not taking a stance now. You should just transfer amounts that will not catch the authorities' attention because they may act upon it.

If we consider dealing with crypto currency as a business, then according to the legislation of each country, any business activity, if it is not directly prohibited by law, is allowed, that is, the so-called presumption of legitimacy of transactions operates. Proceeding from this crypto currency, if it is not regulated by the states, should be recognized as a legitimate type of activity, until appropriate regulations are adopted against it.

Yes, I really agree with you, everything that is legalized in the country is all in the law or the decree, whether it is a president or the ranks, if all of that has come out, then it can be legally and officially included, including bitcoin.

Bitcoin is circulating internationally and no nation dominate that would own controls infact  if you want to possess a bitcoin you can put it in a wallet which is anonymous, how could you regulate  anonymous transaction, the only thing the government can do is to regulate the exchange services.

Unless the law explicitly states that you can't own any crypto-currency, I don't think that there should be an issue. But if you own a bank account abroad and the law doesn't permit that, then it is an entirely different story.

I have my own local exchange and my government still not legalize bitcoin yet.
So it is safe for me to trade ?
Yes, because they are paying tax as well. As long as the government did not make any regulation, I can still use the market without being worry !

You should provide the country that you're talking about here instead of let everyone guess.

Usually though, an unregulated market doesn't mean that the government does not allow any trade activities to go on or anything like that. And it also usually means that the government takes a neutral stance, thus bitcoin transactions should be completely legal.

It is obviously possible that a country would also have bans on bitcoin or whatnot without having regulations, but you said that your country just hasn't made any statements about crypto altogether. In that case, it should be perfectly okay, as long as you don't do illegal stuff with your bitcoin. Also, might wanna be careful about storing bitcoin in overseas hosted wallets, due to the regulations that your country has on overseas bank accounts.

Why should you discuss about whether it is legal or illegal. Just take a note, countries who adapted bitcoin have considered as legal and who are yet to adapt have not yet announced as illegal. It depends on the laws made by individuals. Its just the market competition between fiats and crypto currencies. When crypto stands up in the market, too many crisis do come hence it should not be considered as illegal. To be fact it aims to be legalized everywhere and is striving towards it.

Well said mate, in addition to your idea we all know that bitcoin is unregulated but we cant considered this that illegal in the country. Because each country who will adopt bitcoin there is a different perception and they also have individual views in bitcoin. Luckily in my country, it is unregulated but it doesn't mean it is illegal. Besides, here in my country bitcoin was recognized by our government last year as a kind of mode in payment.

the purpose of bitcoin is so that we can facilitate transactions without parties when, when we transact in some countries it doesn't matter, because we can still use it and exchange on each country's money but still legal or illegal priority is still a key because there are several countries that do reject bitcoin and we cannot use or transact there.

Nothing is illegal until the goverment changes the law. If an exchange works in a country, then it's legal.

 Keep your bitcoin in a cold wallet where no one will ever know that you have it.Luckily in my country, it is unregulated but it doesn't mean it is illegal.

It takes time for a business to regulate its self in the market and you need to know that only a legal firm will regulate themselves in the market. Crypto currencies yes built a strong foundation beginning from bitcoin’s foundation. It regulated and was legalized. Bitcoin is legally accepted in many countries and the respective countries economy grew its wealth to its next stage. Its countries who decides upon which is legal and illegal in the concern countries. 

Of course unregulated exchange/market is not illegal, this is the purpose of cryptocurrency in the first place.
Though we hear a lot of regulations happening now, don't be scared if you are still in the unregulated market because for sure they will comply the government regulations later on. Just make sure that the exchange you are in is legit so you will not be having a problem when government enters the market.

Yes, in a third world country it's very confusing, where we don't know the legal status of crypto. I conclude that the status of crypto in third world countries is not recognized but not illegal, and I think, for now, let's just enjoy the status not admitted but not illegal.

The government does not want to regulate the crypto currency or accept it, as citizens use it if the issue remains open.

If its not yet defined as illegal or not an unregulated exchange might be legal but only on a short periods of time as I think it won't last long, why? You already said that foreign banks ans stocks are not accessible to your local country what made you think that buying cryptocurrencies would be legal in your country for a long time? They might see it as you are evading their law as you might have seen a loophole in their law which they obviously won't like. But I doubt such country exist, would you mind naming it so I can search more about it.

That's my main principle too. You don't have to admit anything, and I've seen lots of people get themselves into trouble by trying to play the nice guy. The government is a pack of wolves and will jump at any opportunity to punish a wrong-doing nice guy, no matter how nice he is.

I wouldn't even be declaring centralized exchanges at this point unless they are based in the US. I think that they still are not obligated to report (but will be soon), so it's probably all under the table at this stage. It might be a good idea to move it out of there soon though to cold wallets.

An exact answer cannot be reached for this question. A countries laws, policies, regulations, etc, are subjective, being withheld within a countries jurisdiction.
 Each countries rules will of course vary. However,  small countries are usually molded after bigger countries and for the case with most countries, the U.S is usually the leader in terms of decision making.
   So naturally,  other countries may use a format similar to the U.S, or perhaps await there decision upon a troubling matter such as this.

Of course, the crypto currency in the digital wallet can not be equated either to the bank account or to the shares of the enterprises. Therefore, in your country, I think that the crypto currency can be freely engaged. In addition, if the crypto currency is not regulated by the laws of the state, then, according to general rules, any business activity that is not prohibited by law is allowed.

I also live in a third world country (unfortunately) and my answer to your question is in between — not illegal nor legal (just my opinion only). Here in our country, there's no concrete law which says that usage of cryptocurency is ban/illegal. That's the reason why we can still be able to engage with it freely, we have no fear simply becuse we're clear from any violations. I just appreciate the fact that our government was not too strict but also still concern for crypto investors like since they are always giving warnings and advisories before using this.

Furthermore, if you think that you can easily escape punishments assuming that you do crime stuffs using crypto like pyrammiding scams or extortion then think again. Our Republic Act 10175 also known as Cybercrine prevention Act is our solution for that.

In some countries there is still a ban on selling crypto currency, but I think it will not be long.

in countries that do not recognize crypto currency as a medium of exchange, for example, bitcoin is prohibited from exchanging directly but there are still many governments that recognize bitcoin as a deposit

so bitcoin ownership outside my country is legitimate, because the government cannot prohibit its citizens to save their money where they want, and very many third world people save money at bank banks in developed countries because they feel safer.

I think that you can easily practice cryptocurrency in your country. If you go to exchanges and exchangers in other countries and at the same time create an account there for conducting cryptocurrency transactions, this is not considered a bank account, since exchanges and exchangers are not banking institutions.
In addition, cryptocurrency does not apply to stocks, in any case, to recognize cryptocurrency securities, you need the regulation of cryptocurrency by your state. And you write that cryptocurrency is not yet legalized in your country.

I agree with that. Bitcoin isn't fit to be a stock sector and it's also doesn't need to be regulated by government, because unregulated doesn't mean it's illegal. As we know that crypto hasn't been accepted, yet it isn't banned but still the system of bitcoin and other crypto working well. Yet, government hasn't consider the law for bitcoin because they have nothing to do with bitcoin. 

Market alone does not make a coin to legal or illegal. It depends on the leaders who lead the countries.

Thats right. unregulation does not mean illegal because many countries today have not given any response to the development of
crypto in their country. so that many people in that country are still free to use bitcoin.

We can see 3 types of views of each countries would possibly made.

- Positive
-Negative
-Neutral

But on general aspect each thing that doesn't fit on governments criteria would have big chances to be treated as illegal but as of now
most of them are on neutral side yet blockchain tech is really hard to ignore to be a such good innovation.

Bitcoin Markethttps://meupcroda.com.br (https://meupcroda.com.br)

indeed krypto cannot be equated with shares, obviously very different shares are more indifinual in nature of a business entity or a company while krypro is clearly a currency so it can be owned and can be used as a medium of exchange, if in developing countries krypto is still categorized as an asset not legal means of exchange, but other things in developed countries, krypto is commonly used to carry out buying and selling activities.

Bitcoin is a digital currency and clearly does not violate the law, so its status is not prohibited but many countries that forbid or reject do not mean that Bitcoin cannot be sold and still can, because the Bitcoin purchase system uses an online system so that Bitcoin can be legal and not prohibited .

the market cannot be regulated by any country, market law is as long as there is still demand, it can be ascertained that buying and selling bitcoin will always be there, and bitcoin is not a violation of the law so buying and selling bitcoin wherever I feel is not a problem because the system is online with the bank, indeed many countries do not want to recognize bitcoin but they even want to apply taxes so that bitcoin will always be in the trade.

I have never heard that bitcoin violates the law, in a country that rejects bitcoin we can still exchange bitcoin in legalized countries, and we can transfer to local banks and local currency, so we don't violate any laws, I don't think we are a problem, we can always trade in bitcoin currencies.

In crypto illegal countries government thinking against cryptocurrencies so also law is working in against. You can't hold crypto in any bank because crypto is not supported how you can stoke in banks or others vendor.

Crypto is contribute to growing in economical growth you can't assuring 100%, because you know that crypto is a unstable currency like bubble but this is not my conception. Without illegal declaration it will neutral condition i think.

Cryptocurrency is not a bank account abroad and no shares. If the cryptocurrency is not regulated by the states, then as a general rule, it can be called a legitimate activity. According to the laws of most states, any business is considered legal if there is no special prohibition against it.

It will depend of every government on how they will treat the existence of unregulated market but mostly they will declared it legal but it will be regulated to ensure that it will help the economy rather than destroying it. Here in my country, the government stand neutral but maybe they are just observing it until they will regulated it to be a legal.

Yes, I agree with your answer, I think the use of bitcoin is all legal, no one forbids it, but it depends on the government in their respective countries.
For what the government knows if the government does not legalize the use of bitcoin, I think that is not an alternative, but that is a problem in the future. Because in some countries, their government does not legalize the use of bitcoin.

SWIFT Causes Headaches for Remitters, Cryptocurrency Offers Reprieve

SWIFT transfers are notorious for taking long and costing a lot, but this was highlighted when it was recently revealed that a UK charity could not get £11,000 to 36 orphans in Zambia after weeks of waiting.

The sending bank, Barclays, blames a lack of communication from the receiving bank in Zambia, but the charity organizers were just happy to get their money back after being in limbo. The issue was exposed during an investigation by the Observer, whom also discovered many similar experiences by other bank users. Typically, users can expect SWIFT to make transfers in a few days, but it can take as long as a few weeks depending on the country, which is not to even mention the extraordinary fees. At this rate it becomes faster to put the cash in a briefcase and hand deliver the amount.

However, this then highlights another problem of the current financial system around the world – withdrawing your own money. Due to current anti-money laundering laws, it can often become a hassle to withdraw your own money, depending on the amount. Within the US, between $2,000-$10,000 USD it is at the bank’s discretion to file regulatory forms, but after $10,000 USD it becomes mandatory. To bring into perspective, $10,000 USD is often not even enough to buy a moderately well-maintained used car. Many banks around the world also self-impose ATM withdraw limits, which highlights fractional reserve banking and the fact that banks do not have enough cash on hand to fulfill all their liabilities.

Cryptocurrencies provide faster, cheaper, and better solutions

Cryptocurrencies eliminate these hassles since transfers can be made in minutes for a few dollars on the slowest networks. On faster networks, such as DASH, an InstantSend transaction can be made, right now, in 1-2 seconds for $0.01-$0.02 USD, which is about to become the norm with Automatic InstantSend. Additionally, transactions can be followed since blockchains are public, so if a receiver claims to have never gotten the money, like the instance above, consumers can track their money rather than relying on the word of third parties. Cryptocurrencies also empower consumers the full right to own and use their money, since as eluded to above, significant amounts of money stored in banks cannot be withdrawn, in whole, without significant delays and/or forms to complete.
DASH is Digital Cash! ::)

Of course it's illegal and my government usually will shut it down if it's keep operating.

My local exchange paying tax and have the license so they are being regulated but my government did not regulate crypto so trading with crypto become our risk and they will not help if something bad happen let say got scam,etc

wrong thinking, crypto is different from stocks, so we can have crypto abroad without anyone being able to manage it, because people in a country can have accounts to save their money in banks that are abroad very freely, also we can buy any shares overseas, so the same as bitcoin their system cannot be interfered with by any country.

Of couse without an official statement from the government. the conditions will be neutral. that means you can still use bitcoin for any transaction activity you like in your country. including my countries that have conditions like this. I'm still free to use bitcoin without restrictionss

very much depends on the policy of which country we are in, but basically bitcoin is legal, but many countries feel threatened by the emergence of digital currencies, because it has the potential to eliminate the dominance of existing currencies, so the status of bitcoin in various countries is still uncertain, this only a matter of business competition in the banking sector which is likely to be reduced by their money trees being replaced by bitcoin, because bitcoin offers convenience in all forms of payment and security.

Crypto is a new asset class and can't really fit as per the current definition of asset classes. So as long as you have ambiguity on the crypto related laws in your country, it's not illegal. It is just unregulated and it doesn't mean it is illegal. So carry on with your crypto related activities unless there is a proper regulatory framework given by your government. Also look for the existing legal definitions of stocks in your country and see if crypto fits that bill. Most probably it won't so you don't need to worry just as now!

see a situation where there is no prohibition on the ownership of bitcoin, so long as that bitcoin is legitimate or legal, perhaps the problem is the use in each country which has no clear rules, but buying and selling of bitcoin remains an activity that is not prohibited.

If Bitcoin and another cryptocurrency in any state is not regulated, then its use can be considered legal due to the fact that in such a state there will be no special prohibition on its use. In order to talk about prohibiting the use of Bitcoin, referring to the fact that in certain cases it is impossible to use stocks, securities, have bank accounts abroad, you must first legalize the cryptocurrency and recognize it as securities or other status that is prohibited for use.

It could not be declared as legal unless the government had made some arrangement or rules and regulations with bitcoin. So if it is unregulated meaning to say that cryptocurrency is neither legal nor illegal unless also if it is being declared as illegal by the government organizations for those who disagree with the system.

Thats true, but if without regulation of course bitcoin market will be considered a black market because it is illegal because it does not have a clear legal law? even without regulation though the market will continue to run, but regulation on the market will give an official image and not illegal impression..

In my opinion I considered illegal for those unregulated market. Just like the other system that has found something unusual which call up the attention of the government for operating a system that is not being registered in any concern government agency for the matter is considered as illegal.

Cryptocurrency can not be considered a bank account, especially open outside the state. It also can not be considered shares. In any case, until the cryptocurrency is legalized in a particular state and its official status is determined, it cannot be equated to any other type of document.
If a cryptocurrency is not regulated by states, it should be considered legal, since there will not be a special prohibition on its use. As a general rule, it is allowed to engage in any type of business, unless there is a special ban on them.

Regulation controls the way a business should operate and unregulated means a type of business or activity that is not controlled and directed by rules or laws. Here in my country, bitcoin is not legalized nor regulated but the government did not make any move to ban the coin and other cryptocurrencies. The people are free to use virtual coins in any kind of transactions and several exchanges are also given licenses to operate in the countries.

Crypto illegalization depends on what country it is. So even though its legal for you to acquire crypto, if you want to buy something or send some of it on those people who lived in a total ban crypto then that would be useless. And also, here in my country, you cannot establish a company if you arent a citizen but you can open a bank account.

exactly . when unfamilliar people hear and see cryptos they instanly think that it is a scam or illegal due to the reason that cryptos arent yet regulated by the government but  if ever the situation can be reversed i think those unfamilliar people will now embrace cryptos because they see it as a real product  . yet nowadays there are few countries that consider crypto as illegal but most country are willing to support crypto even it its not officially regulated by them  .

Knowing what are the certain rules for that country will help. You need to identify and must follow the law if they have any rule of law regarding owning, transacting and trading with crypto's.

IMO as long as there's no direct law about it, there's nothing wrong with that.

Yeah as long as they don't know your identity, then you won't experience any problems using bitcoin right? after all the market that has not been regulated yet does not mean illegal right? unless there is already a special rule about crypto, then we can determine whether it is illegal or not

Certainly right because if your country has no regulations or other law applied towards crypto then for sure you are safe in using crypto.the problem will occur if this crypto will be used into other country’s i mean you will be going to that certain country that has been banning this currencies
Yeah we can open a bank account from crypto since our country has nothing against cryptocurrency,and i will not try sending this to some place that restricted this coins

The crypto market exists in cyberspace by using the internet, meaning that transactions will not be known by anyone and do not violate anything.
Becomes illegal if transactions in a country prohibit the use of bitcoin but are used for payment or open trade. If in a country that legalizes crypto, of course there are no problems.

If bitcoin is illegal on your country , you can still use crypto only online because country or a government rather dont hold the online world ,  they dont hold bitcoin  but its possible that they can ban some sites within their network or within the countries local ip  .  there are also sites that are illegal online and you can get into some serious trouble if you will insist to use and visit them  .

If bitcoin were illegal in the country then you must obey the law with your government because if you have been caught of course you must punishable by them. So, you don't have anything to do if illegal in your country unless you migrate into another place were bitcoin was allowed to use.

the distinction between illegal and unregulated is a bit unimportant if you are using btc for it's initial purpose, which was to remove the government from the financial equation. if people want a secure, government regulated financial tool, why not invest in stocks, bonds, certificates of deposits, etc?
The hands-off approach to crypto by most governments, meaning we are meant to self-regulate and have no one to complain to if we are ripped off by a hacked exchange or some hacker, but that's the price we pay for some semblance of financial freedom.
i feel that the governments won't ever officially make btc or alts illegal as long as they can tax it as soon as you try to convert to fiat.

It's really quite complicated you are your bank if we talk about cryptocurrency and you can move it anywhere in the world and this makes cryptocurrency so unique for us, that is why the government cannot make a final decision on how to explain or define cryptocurrency, and that is why they don't like, government don't want something they cannot define or control.

I think it is only illegal if there is a law that makes unregulated market illegal. The crypto market in my country is still largely unregulated but the people are free to use and trade any cryptocurrency from both local and international exchanges. Some countries have already imposed their own regulation to curbe some illegal activities and protect their people financially.

If a country bans Bitcoin, it can be interpreted in many different ways. A few examples are:

1. Bitcoin can't be used as a legal tender: In countries such as India, Bitcoin can't be used as a form of payment. But that doesn't mean that the possession of Bitcoin and trading of Bitcoin to fiat is illegal.

2. Bitcoin trading is illegal: In countries such as Bangladesh, you are banned from trading your BTC to fiat. But the possession of BTC as such is not a punishable offense.

3. Possession of Bitcoin is illegal: I don't think any country is having such a rule as of now. It can't be implemented anyway.

What I wanted to say is that the laws should be clear.

Market is not regulated, therefore it's not illegal nor legal.

Enjoy using bitcoin without worrying that you might break some law, but in the bad side, you won't get protection as well.
You are like using bitcoin in the early phase of its existence.

I'm in a developing country, and crypto is not yet properly regulated but now that I witness lots of scam, I want it regulated for it to grow.

It must be admitted that almost all in the third world or developing countries that the crypto arrangement is unclear, because the country itself may also not fully be able to fully adopt the advances in digital technology. so they themselves have not been able to determine whether crypto is acceptable or not. so that clearly means that they are also difficult to determine legal or illegal. as long as there is no determination it can be interpreted that crypto becomes legal.

It seems like what you have told a lot has happened to the developing world, there are still many who have not received developments about crypto so it is too late to make regulations that can regulate it. but indeed, if there is no regulation, this is clearly illegal. because crypto users need definite protection, so that it doesn't become chaotic in the future.

If you live in a country where crypto is totally banned, then acquiring and holding bitcoin or any other coin is illegal for that matter, having a total ban and having restrictions are two things entirely, if it is not regulated, then there is nothing to worry until they come up with some sort of regulation in the future. You cannot establish a company dealing with virtual currency if it is unregulated, until there is any sort of instruction from the ruling government.

How could we say simply non-regulation marketplace is illegal? Decentralized market contains bitcoin, ethereum and many altcoins, will you say these coins are illegal and you are not using too? I am not sure what is your problem and why saying that it is illegal.
There are bad activities happen on blackmarket we can consider that alone illegal. We should not say everything as illegal.

The whole notion of protecting the people by the government is just a big fat lie, if they want to curb the scammers they can very well do that, the people who invest in bitcoin and the entire market know what they are doing, the government must curb alternative investment platforms in the name of bitcoin to protect its users and not the market altogether claiming that they are protecting them which is a bull shit argument to make.

The guy above is only confuse , based on what i read he only means that crypto needs regulation so that it can be more acceptable and will look more legal on the public  . this is what i also think when crypto is already fully regulated just like fiats where every people in the world will not doubt on crypto anymore  but for now cryptos are not yet regulated but this does not mean that they are already illegal   .

Everything is legal, until the government officially imposes a ban, it is not legal, at the moment bitcoin has no ban, but it is still not in the national government. It is recognized that it is money.

Exactly. Without law stating prohibition of using it makes it still allowable or legal. Just like generally speaking, there’s a lot of bad activities being performed everyday but as long as there is no law stating it is prohibited and punishable it remains legal. Here in my present location it is illegal but foreigners can open  bank accounts.

In my opinion, if a transaction is carried out in a country that prohibits bitcoin, it is illegal. But penalties for violations can be debated, because there must be clear rules from the country's government.
In contrast to transactions carried out in countries that legalize bitcoin, all have rules so that crypto exchange cannot be done arbitrarily without regard to the traders.

Thats right, except if there are written rules about crypto, then the regulations have been enforced. as long as there is no official notification from the government, then no one can forbid you to use crypto. many countries have yet to respond to the presence of crypto, so crypto is still legal to use.

It's clear bitcoin is legal form as new money, until regulation is under process how it to control by the government of the country want to regulate bitcoin but doesn't mean bitcoin is illegal specially from the country knows bitcoin well as new currency.

At this point I think most is legal unless it is seen as a security or goes against the new FATF Travel Rule. I know some exchanges are working with Ciphertrace to help abide by this law that is set in place

As others already wrote, if something's not specifically forbidden, it's not 'illegal'. That being said, your examples of gov's approach to foreign stocks and bank accounts shows high risk of cryptos getting delegated or heavily regulated (IE. by dragging it under already existing definitions).
In such cases it's probably best to directly enquirer with your authorities (preferably anonymously) and ask for clarification. :)

If I can rest on your topic about unregulated market being illegal, depending on the jurisdiction; if a country has not declared a thing, practice as illegal then it can not be said to be illegal. The point is, if people are indulging in it, they can't claim compensation, demages or restitution if they are injured nor scammed. So, to their own peril they indulge.