Bitcoin Forum

there are still many countries that cannot accept crypto in their country, why?  do you know  for example in the country of Indonesia crypto has not been legalized because it is considered gambling and money laundering, what about your countries?

I have a friend in Indonesia and he is also a bitcoin user. if I'm not mistaken, I heard that bitcoin is actually supported by the government there, even a bitcoin exchange market has been formed. and it is protected by state policy.
my friend said he also messaged me, saying that at the moment there is a very big bitcoin development in his country. He also said that since the existence of Covid 19, almost 50% of Indonesians have switched bitcoin investments.

other than that maybe you know better, because you are an Indonesian citizen.

As for my country, the bitcoin exchange has been officially legalized by the government.

My country has not really legalized Cryptocurrency, they have not yet put in place a law that prohibits cryptocurrencies and also does not support cryptocurrencies that are widely traded in Vietnam.
So traders, investors in my country just tried to cash out in the black market and this is also a barrier to making Cryptocurrency trading services difficult to develop in the best way. All must transact anonymously because public transactions will be charged with illegal money laundering. This is too baddd !  :)

Very few countries have legalized the usage of bitcoin and cryptocurrencies in the country. In specific very few have officially revealed statement on the support and legalized usage of cryptocurrency. In my country we've got more people using cryptocurrency, but government hasn't legalized it. Often arises policy changes, and yet we haven't got policy supporting the usage of cryptocurrencies.

Unfortunately, none can guarantee that all countries accepting bitcoin in the future because there are many weird law in the world, specially economically. People in some countries don't have the internet access, if you we don't consider these counties, there is nothing to stop bitcoin because bitcoin was made to be border-less and available in all over the world. I guess all counties should accept this financial adaption in the future or they will be stay away from this technology alone while other countries are working on it and making progress everyday.  

Country leaders that don't believe in the future and still see bitcoin as a threat to their economy will always be negative accepting crypto in their jurisdiction or let say, irresponsible leaders, to regulate such things.

Though some countries are neutral, without enough regulation but a good thing crypto isn't banned there, while there are some crypto-friendly countries like where I live in.

Bitcoin doesn't need to be accepted from any country, that's the huge advantage of it. For example, if you live in country X and want to buy things on gucci.com, then you have to ship that items on American address, then to your country via the help of mail forward services. But the problem that arises here is that you can't pay with your visa/master card or whatever it is because website requires shipping and billing addresses to be matched with each other. In bitcoin's case, you don't need that. Any website, that has that first offer, gives you free choice when it comes with crypto payments.

Sorry I am an Indonesian, I don't think you have got updates on the legality of bitcoin in Indonesia. What you said is wrong. Please read the news here for you to find out. https://www.cermati.com/artikel/mantul-transaksi-jual-beli-bitcoin-sudah-legal-di-indonesia

The assumption that bitcoin is gambling is still exists in society, but that was also not the consideration of the government that previously did not legalize bitcoin.

There are very few countries where it's specifically illegal.

In most places it doesn't have much of a legal status which doesn't mean it's illegal. If it's a deal between two people it doesn't matter anyway. If one person wants to pay in it and the other is willing to accept it then it's job jobbed.

Different countries also have different views on cryptocurrency or bitcoin so some countries would not allow cryptocurrency and banned it in their country because they don't trust it.

Cryptocurrency is not something that my country or the government here supports but it's not banned here in the country, and the government also giving warning to the people of what is the risk of cryptocurrency.

So it's still legal here, but a lot of people use cryptocurrency or bitcoin in a lot of scams so I guess people just don't have the trust in it here because of this scams in the news.

Cryptocurrency in Indonesia has been legal, it is as a commodity, under Bappebti. But, it is not legal yet as a currency (payment).
As what have been said by noorman0.

It is not only about money laundering, crimes, and also other negative issues that are around us. But, there are still more complicated conditions why crypto is still not legalized as a payment method in our country, but only legalized as a commodity, digital asset.

Well, I am also sure that you are Indonesian, so I suggest you visit SFI and update the news about cryptocurrency in Indonesia. there are very big changes in our country, and now crypto is like a trend here.

Btw, crypto is legal in Indonesia as a commodity has been stated here in this thread, you may read it:
https://bitcointalk.org/index.php?topic=5208763.0

Accepted, legalized, approved, not banned... There are many different approaches.

I don't think that all countries will accept bitcoin meaning legalize it and approve trading. The simple statistic says that things rarely get 100% approval rate.

The good news is the acceptance is growing and it looks like most countries will sooner or later make it legal and those that ban it will be in minority. Even if it's banned in your country, it will be legal in a neighboring country.

Yes exactly. When people start talking about "what is legal" it reminds me of little children in school only being able to of what the teacher tells them. Nothing needs to "become legal" I wish people would use their heads more> I mean do they really think every single time something is invented we need to have this magical caring godly government to put the "ok sticker" on the idea or you not allowed to do it.
It's almost like some people can't think for themselves without the government and it's sad.

It can be use by money laundering but it doesn't mean that all transaction use Bitcoin is from money laundering there are many other legit ways to earn it marking it as money laundering money while other country accepting it as currency is not a good idea .

They give always a warning in Bitcoin investment since it's volatile and there is chance that you may lost  your money but it cannot considered as gambling it is far way different.

Philippines is pretty much open to any crypto advancements and are looking to draft potential regulations to it as advised by the SEC. Mostly, only memos about current fraud trends circulating concerning bitcoin and crypto is around, though the last time I heard they are already researching for a draft that would encompass bitcoin and crypto in general. It will take long though I think the road towards it pretty good and straight.

you are wrong to understand this...
The Indonesian finance minister has clearly stated and made a rule that cryptocurrencies cannot be used as a means of payment and can only be used as investment assets such as stocks or commodities, the goal is to keep the Rupiah the main payment tool in Indonesia. every country has different rules regarding cryptocurrencies but I am sure that in the future, Indonesia will have its own cryptocurrency.

Many countries are still ignoring to legalize bitcoin as a payment system but many governments need a stability in crypto currency which is quite impossible, the liquidity and volatility is the talk of town. They are ignoring this as it is like a money laundering scheme but they need to understand the differences Between the two, as days passing slowly many countries have showed green signal for BTC and this will surely become the ruler across the globe.

Not every government will accept and adopt bitcoin since accepting it will vary on their stand, and not every government has the same perspective towards bitcoin. Some countries are already against it, while the majority still have no specific regulation on bitcoin since I believe that bitcoin is still at the early stage of recognition so governments still have no law about it. In my country, it's not clearly legalized but I can say that they are open to bitcoin as they are not strict when it comes to it.

It is very easy to know why this is happening, fiat currencies give a huge power to governments all over the world and politicians are used to that power, not only that passing new taxes is always really unpopular and people will always complain about it because no one likes the idea of paying more money to the government, but by printing more money they can effectively tax everyone and do it in a way in which very few notice, bitcoin is a threat to all of that and they know it and they are trying to delay its progress as much as possible because of it.

In my country Venezuela cryptocurrencies are accepted.
In fact, the government has a website to receive cryptocurrencies and then users receive the value in local currency to finally deposit it in the bank.

https://remesas.patria.org.ve/es/login (https://remesas.patria.org.ve/es/login)

We have other ways of trading cryptocurrencies with our local currency, which makes us free to choose the most convenient method.
The sad thing in my country that not all cities have an efficient internet service.
Hopefully, after this pandemic they improve the services, the interested parties educate people so that everyone can make use of cryptocurrencies.

They don't like it and don't understand it. Those are the main reasons why they don't accept crypto in their countries and they've banned it. They are not that many countries though but a ban is a ban. Only them and time can change it in the future.

First time to see someone from that country here in the forum. I know that your country is in hyperinflation and each and every one of you does anything to counter it. I've watched videos that you have a lot of countrymen that are hiding as a miner because the police might confiscate their rigs. And knowing that it's your government that has this type of website, Venezuela does really supports it and gets another source of revenue.

In my country, cryptocurrency remains a legal investment though, it doesn't come without an emphasised warning on the dangers that is associated with cryptos with regards to scamming and scammers following it's Decentralized nature. The Nigeria Deposit Insurance Corporation and the Central Bank of Nigeria are trying to see a way of incorporating the blockchain and crypto technology into governmental and finance operations to render needed services. It seems a bit complicated at the moment since, government operates a centralized system and a merger between decentralization and centralization seems out of place but, it's a work in progress and a developmental oriented one at that. So, we are as Bitcoin enthusiast going somewhere with bitcoin in changing the world around us.

Countries which consider Bitcoin gambling or "money laundering" have a childish leadership in my opinion. Bitcoin is an asset comparable to Gold and regarded as investment worth by deep pockets funds around the world. Indonesiaand other countries alike will have to accept that Bitcoin is part of our reality now. Denial will only stop economic growth.

In my country then government is still on the neutral side which means they aren't regulating it and they aren't banning it.They haven't still consider on taxing out
cryptocurrency earnings which is still a good thing for people who do reside into this country.

You can really expect that there would be different jurisdiction or views of each government since not all would really be having  that positivity towards bitcoin
or crypto as a whole.

Some would see this as an opportunity and some would see this as a great threat or a problem since due to anonymity and decentralization which is a
main characteristic which cant really be easily adopted.

^ Bitcoin in my country remains legal and I am not seeing the possibility that they will soon ban cryptocurrency here. In fact, we already have some schools that offer courses related to blockchain and also merchants that accept bitcoins as payment. However, our government doesn't encourage any citizen to invest in bitcoin or with any other cryptocurrency due to the risk or become a victim of scammers neither get involve with any Ponzi scheme. Nevertheless, for me, our government stands are only fair and just since they are only after our welfare yet they are not suppressing our free will.

It isn't a necessary thing for country governments to accept cryptocurrencies. That's the good part of custom cryptocurrencies (https://www.mintme.com), almost every one of them are decentralized and you're the only one who allows or not the transaction. But I think that in a future it may be possible that cryptocurrencies will be accepted everywhere around the globe since they'll represent an enormous part of the economy.

In Russia, the law on digital assets will come into force in 2021. Cryptocurrencies are prohibited as a means of payment.
Cryptocurrency is considered property. You can buy it, but you must declare your income. But Moscow and St. Petersburg are the largest black markets with huge trading volumes.
It will be very interesting to watch the events.

In each country, there are different policies in dealing with cryptocurrencies. Because the circulation is completely unregulated
and does not get guarantees from the government, especially by the central bank. Because of the Bitcoin trend,
there is a high inflating of the value of conventional currencies, potentially disrupting the country’s financial stability.
That’s one reason crypto doesn’t get official recognition in many countries.
Bitcoin is actually legal in Indonesia, just not as a means of payment.  But Bitcoin is only official as a commodity.
The Commodity Futures Exchange Trading Supervisory Agency (Bappeti) released the rule that bitcoin is legal as an investment tool.

First everything depends on the inner policy of the concrete country. As for my country the other day news appeared about plans of legalization of cryptocurrency, but honestly I am not very happy. Because it looks more like very beautiful and promising slogan, that will bring lots of difficulties for traders and crypto holders. Because the inner policy in my coutry is not oriented on the happiness of crypto users. Of course people will find the solution I think, and hope this attempts to legalize crypto will not have a bad impact on our development in this direction.

Only a few countries have already fully adopting crypto. Some allow it but the problem is that only a few establishments are accepting then and so the number of users. The adoption will take longer as I think and if that illegality will rise due to the use of crypto, that it creates a problem in the future. This is also one reason why some countries never give their support for Bitcoin, but if that could be changed, maybe we can say that merchants and local investors will run into as they feel secure.

Even in countries where it is not legal they can't really stop people from using it if the really wanted to. Criminals are probably the only ones not affected by these laws because they don't care about following them. It doesn't really make sense for these laws to exist so it is probably a matter of time before they start to embrace it.