Bitcoin Forum

yesterday i heard that using of bitcoin illegal in Taiwan i don't guess why in some country its legal and in some like Taiwan is illegal?

The usage of BTCitcoin differs just like each country has it's set of rules. You could see everything here: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country and also here (go to the end): http://www.europarl.europa.eu/RegData/bibliotheque/briefing/2014/140793/LDM_BRI(2014)140793_REV1_EN.pdf Basically it's not completely illegal in Taiwan and their looking to regulate it in the future however BTCitcoin ATMs were not allowed to be installed and any deals that directly involves banks are forbidden but users could pay each other in BTCitcoin.

really?? i found this article
http://www.coindesk.com/bitcoin-taiwan-retail-familymart/
what's the truth legal or illegal using bitcoin in taiwan?
to be honest i'm very gratefull due to the regulation in my country that never banned bitcoin, even thought The government has stated that the bitcoin is not  currency or legal payment in our country but we can still trade it like stock as like as gold,oil etc

exactly, so far no country that i know of has banned bitcoin. you can still use bitcoin, buy and hold it.
they just don't want to see it be used as a payment method in the businesses and that is because they have not set rules for its regulation and taxes.

Some countries feel it may cause some economical imbalance as it is a digital currency. Because of this various countries are implementing various regulations within their country so to avoid the usage of bitcoin.

AFAIK someone ransomed people to gain bitcoins.
the source was investigated in taiwan. as they believe the bitcoin in Taiwan could be very susceptible to the darknet rise, they banned it instead of improving.

I think there was a recent presidential election and the winner is from the other political party. Maybe there are some changes in the regulations? Any formal statement from the government of Taiwan??

To me a government banning bitcoin is a sure sign that you live in a corrupt government that are obviously in the pocket of the banksters  ;)

in bangladesh they will arrest you, if you get caught doing some transaction in bitcoin, so it's even worse there

but despite this there are still those who can trade without problem

Bangladesh is in the list of top growing countries of the world. The Government might be feeling such digital currency usage will do harm to their growth.
That might be the reason for the very strict reason to avoid usage of bitcoins.

AFAIK there was an kidnapping incident involving Bitcoin, from there they started thinking about how to regulate Bitcoin. But last I heard after some discussion was that it wasn't banned

Yes they think the bitcoin will destroy their economy because the bitcoin is growing so fast and the price of a bitcoin is pretty high, leaders of some country's are scared because of this.

I think they just have to accept this because there is no way back the bitcoin will be the winner at the end.

I don't think the price matters or Bitcoin itself. it's the idea of a new monetary system that is free from control. this is what spooks governments. governments control over a country is through a few areas and the financial sector is a major one

When these countries ban bitcoin, what's to stop eveyone from throwing their hands in the air and saying, "fuck it, let's go buy dogecoin" or whatever.

Of course, there's always the problem of enforcement. How do you ban something that's inherently subversive?

but they are supporting payza like service from few years so i think the governement fear more about cryptocurrency outdating digital currency they are supporting.

i'm not surprised that in some countries bitcoin illegal and maybe taiwan also one of them because government can't control bitcoin users and my guess is that's why bitcoin illegal in taiwan

As long as their Government sees it as a harm to their economy i dont think this will change in the near future

I think so. there are still many country doesn't accept bitcoin as the payment like fiat currency. maybe because the exustance of bitcoin is not known by all of people yet

Oh if thats real. I think they banned it because many of the taiwanese use it in illegal ways like buying drugs and weapons or bombs against their country

i never heard this news.. but i think more countries bitcoin is not legal thats why bitcoin is still not increase more value.. but if they see more countries and store are accepting bitcoin maybe bitcoin for most countries will accept bitcoin as legal..

I think Taiwan is just trying to be careful here because bitcoin is completely anonymous and they like monitoring all the online transactions going on in their country.

Remember the Know Your Customer [KYC] policy?

One guy said he wanted to ban it. That's a little different than hundreds of guys in the senate or wherever debating it and then passing it as a law.

As far as I know Taiwan authorities are not quite gambling friendly. Considering that bitcoins are used more and more for gamble this initiative of the local authorities might be related. I am really interested how things will develop in the whole region. The first country which introduces a clear positive position on bitcoins (and may be online gambling) will benefit a lot from foreign capitals.     

This is what made me happy  ;D

I think it is easy to explain. There is a stereotype that Bitcoin would destroy the banking system and lead to anarchy.

"- If bitcoin will be extended in its current unchanged, it could undermine the long-term link between the sovereign and its currency." (C) Williams

Bitcoin laws are very different in just about every country and every state within those countries.
Some its outright illegal amd other it's perfectly legal, then some places still consider bitcoin a grey area because they themselfsstill ddon't know how to handle it.

Best to check with you local government department if you wish to start trading or makimg profit off it by offering loans or something.

Good luck.

i guess not only in taiwan because as i know many country has banned bitcoin or say bitmain are illegal its same like in russians,china,venezuela,etc.

What is the source of your information and could you please share it here with us?@Op. There are always many bad rumours about bitcoin so always check the source credibility before believing any such news.I found this http://www.coindesk.com/taiwan-finance-regulation-bitcoin-ban/ Although it is an old news but I dont see any reason they would now go back on their words

Bitcoin market is so insignificant in Bangladesh that it will take many years for authorities to notice any economical difference.
While I find this anti bitcoin law extremely stupid and short sighted. But it will definitely won't harm the country itself.

Not really, only the Bitcoin ATMs are banned in Taiwan.  Although through a convoluted process, bitcoins can still be purchased at some convenience stores kiosks.  These stores also sell train tickets and allow paying bills.

I researched a bit and I found this article
 http://www.epochtimes.com/b5/16/3/27/n7462341.htm  (http://www.epochtimes.com/b5/16/3/27/n7462341.htm)

Seems like bitcoin isn't "illegal".  It is just not recognized as a currency.  Instead, it is recognized as a high risk virtual investment product

Recent articles actually suggest that Taiwan may be friendly to Bitcoin spenders.
So Bitcoin definitely is not illegal.
http://themerkle.com/taiwan-may-be-the-most-convenient-country-for-bitcoin-enthusiasts/

i have no idea about this may be but i even not hear from my friend and not on social media. but  i think that will be temporary and every country is going to legalize it in future.

is there any single country where bitcoin is legal. although there are some steps have been take in favour of bitcoin to legalize it but yet there is not a sing country who properly legalize bitcoin up to now. may be same is the case in Taiwan.

A mumbeeptind said,i also think that it could be because many people in Taiwan were using it for a wrong purposes,
instead of trying doing anything else with it.
But we cannot say for sure,however i think that there are governments like this one banning bitcoin,because it is a currency made by not a country,or some government,but just
made by a group of developers. Im sure a lot of persons,politics and bankers dont like it.

Probably they felt it could make the legal tender lose value or they found out that more fraud is being committed for that purpose so they propose to ban. My humble opinion

I think that's because BTC earning voilated their rules and regulations in their country. So maybe that's why they banned it. Taiwan is a good country to live in. Taiwan is a good place to work. So I guess, they are just banning BTC earning for the improvement of their country. That's their own rules. That's their own regulations. I think, Taiwan is one of the top countries to work on. So they are strictly regulating their rules in their country.

is it only the issue of Taiwan issue? i  think so many other countries have the same problem. my own country has yet not legalize bitcoin. i think the reason is that the govt have so many limitation on bitcoin. they have to solve the taxes issue and the effect of the bitcoin on the state economy. and so many other issues which must be solve first.

yes that is a fact. that bitcoin is still not legalize in so many other countries and not only in Taiwan. but still there so many other countries who have yet not given any statement about bitcoin that either it is legal or illegal there. but still people are continuously using it.

Yes, there are a lot of countries where it is legal to own/use bitcoins, although they may not be legal tender.
If governments are giving licences to companies which deal in bitcoin, then they are definitely legal.

can you mention a single country and do you have any proof. i think these are such kind of countries who have yet not given any statement about bitcoin. they have not legalize it not banned it. therefore people are doing trade and using it openly there.

yes our country also yet not given any statement about bitcoin. we have no idea that either bitcoin is legal here or not. but still we are using it. i am hopeful that our govt will have positive thinking about bitcoin and they are going to legalize it.

yes every country has their own rules and regulation. in some countries it is consider it as legal. where as it is consider it as illegal. but yet some states have no reaction about bitcoin. either it is legal there or not.

yes and that is not only the problem of Taiwan but so many other countries are also facing these problems. i thin with the passage of time these problems will be solve.

i think it is not onlyillegal in taiwan but i think it is still banned in so many other countries of the world.

to me i think not a sing country has yet banned bitcoin, as we can see people from all most all the countries of the world in bitcoin forum, but still so many countries have not officially legalize bitcoin.

yes i am agree with you i think it is a fact there is still not a single country which have banned bitcoin, therefore i think it is not true news however if some one there from Taiwan he can answer to this question,

The governments have fear of decentralized coins because they will collect less taxes and the cryptocurrency can reduce the local fiat value if a lot of people start to using bitcoin or other alt. Well, that's the power of the bitcoin!

yes that is the real reason that government do not want to accept a decentralize currency which will reduce their tax revenue and will degrade the fiat currency of the state therefore the governments are not going to accept bitcoin in present time.

Every country is free to make law about what they consider is best for their citizens and for her own sovereignty>Government of Taiwan might consider bitcoin not good for their people and country(although they are wrong) thats why they declared it illegal.Other countries who have declared btc legal may have their resons

i think it is not only illegal in taiwaan but also illegal in so many other countries but still people are using it there.

This is normal. Some countries do not recognize bitcoin, let bitcoin circulation in the market, worried that bitcoin will replace the money, became the main currency, while the government has no exact documents to regulate bitcoin, will ban bitcoin. But I believe that bitcoin will be accepted by more and more countries over time, which is inevitable.

i have no personal idea about this, but i think bitcoin is still not banned or consider as illegal in any state of the world, actually not a sing country has yet give any statement about bitcoin, therefore people are using it as legal currency.

i think bitcoin is not even illegal in Taiwan, but i think it is also illegal in so may other countries, but in fact it is not illegal any where in the world because still not a single country consider bitcoin as illegal therefore it is not still illegal anywhere in the world.

i have no personal idea about it that either it is really illegal in Taiwan or not, because to me still not a sing country yet consider bitcoin as illegal currency,

Some of the countries just ban it because they have doubt that in their country the criminals will have opportunity to use bitcoin easily for their crimes so they without any further investigation ban bitcoin which is not good as bitcoin is mostly used for the advance world digital businesses.

i think it is not illegal there because still not a single country consider bitcoin as illegal.

Drug traffickers have long been used digital money to their dark schemes. The appearance of Bitcoins should not greatly affect the situation.

yes in fact every country make their own rules regulation and their own law for their citizen and they always prepare their policies according to their own needs, therefore may be Taiwan banned bitcoin but i am hopeful that a time will come when they will allow people to use bitcoin as it will be the need of time.

I dont think so, better have a research before jumping into conclusion.

Bitcoin has been “unbanned” in Taiwan. Well, that’s not exactly accurate. Sources are claiming that the digital currency was never banned in Taiwan in the first place, despite Central News Agency’s — one of Taiwan’s largest media outlets — recent report that the country’s Financial Supervisory Commission (FSC) labeled bitcoin and digital currencies “illegal.” The words are attributed to Tseng Ming-Chung, an FSC officer who during a legislative hearing, allegedly referred to digital currencies as “unlawful.”

Source: http://bitcoinist.net/taiwan-there-is-no-bitcoin-ban/

Bitcoin is illegal in many countries. I think the main reason is that Bitcoin is sort of out of the government's control and it is hard to create some special taxes. So, it is naturally illegal. Add here the fact that Bitcoin can be used anonymously. And is that realy true about Taiwan? Some old news say it won't become illegal http://www.coindesk.com/taiwan-finance-regulation-bitcoin-ban/. And Wiki says that 'While bitcoin itself is not illegal here, approvals for bitcoin ATMs have been refused'.

Anyone who knows the legality of bitcoin in Taiwan?

This articles claims it is illegal, and is dated after all of the references in the wikipedia bitcoin legality page:
https://www.cryptocoinsnews.com/bitcoin-declared-illegal-in-taiwan/

However, this article is later:
http://www.epochtimes.com/b5/16/3/27/n7462341.htm

If we learn from the information circulating about the ban Bitcoin users in Taiwan caused probably because there are factors crimes involving bitcoin, so central Taiwan law enforcement to crack down on any illegal activities related to Bitcoin.sungguh very worrying for Bitcoin users in the country

Few people are very greedy when it comes to bitcoin because they cannot do illegal activities with fiat currency. So they started doing illegal activities with bitcoin because governments cannot control those activities, bitcoin is out of government control. This is one of the main in Taiwan may be.

The legitimateness of your bitcoin exercises will rely on your identity, where you live, and what you are doing with it. Taiwan regularly considered being a heaven to Bitcoin explorers. Bitcoin prohibited in Taiwan was a rumor.

well actually i never hear about that, but if that true maybe because they affair it gonna use to something ilegal and the Goverment get less profit(tax).

Hi
Is it in other countries that bitcoin already in legalka by the government? I just wanted to ask that.
Thanks

Taiwan wrongly concluded that BTC is illegal, but BTC is a place of business transactions from all over the world. Actually BTC is not illegal if people just conclude it. Thanks  ;D

Despite the mainstream adoption of Bitcoin by a largely tech-savvy population in Taiwan wherein citizens have the means to buy bitcoin in popular convenience store chains, the Taiwanese FSC has today declared Bitcoin to be illegal in the country.
The announcement came after a recent high-profile incident wherein a prominent Hong Kong business tycoon was kidnapped by a criminal gang who demanded HK$70 million (approx. 30,000 BTC or over USD $ 10 million) in Bitcoin. The victim was rescued soon after a payment of HK$13 million (approx. 4,800 BTC or USD $1.6 million).
Focus Taiwan, a national news agency reports that Tseng Ming-Chung, Chairman of the FSC deemed any usage of the cryptocurrency in the country to be illegal. Furthermore, he also stated that the FSC would collaborate with Taiwan’s central bank and law enforcement agencies to “crack down” on any illegal activities.

The reason for this is the recent incident that occurred wherein a prominent Hong Kong business tycoon was kidnapped by a criminal gang who demanded HK$70 million in Bitcoin. The victim was rescued soon after a payment of HK$13 million. This was the main impetus for Taiwan to ban Bitcoin. Moreover, many people cannot adjust to new change. And I think we can all agree that Bitcoin is a revolutionary technology. This can be another reason why the Taiwanese government is hesitant to accept Bitcoin through their jurisdiction.

Check this URL: https://www.cryptocoinsnews.com/bitcoin-declared-illegal-in-taiwan/ - for more information regarding this.

Such an good article this is what will be happen in the future if bitcoin will be legal of every country i hope that they don't use bitcoin in illegal activities.. that can affect the use of bitcoin locally..
This is i think the reason why bitcoin is illegal right now in taiwan .but i think they are just preventing those kidnappers to exchange their bitcoin into money for the future safe.

I wonder if this will affect Tether since most/all of the deposits are held in Taiwanese banks?

That is an old article, 2015.

Bitcoin is neither illegal nor legal/regulated in Taiwan. Yeah, the government is against installing bitcoin ATMs, but no ban on using bitcoins. In fact, bitcoins can be purchased from over 6000 convenience stores in Taiwan including FamilyMart, OK Mart, 7-11 and Hi-Life, these services are provided by BitoEX and MaiCoin. The Taiwanese government might impose regulations on bitcoin in the future and give it a legal status.

Many states are applying different regulation/rules within their state so to stop the practice of Bitcoin. So far, no state has banned bitcoin. you can use bitcoin, buy and hold it. They only don’t want to understand to use as a payment system in dealings.

hey!! stop making rumor. bitcoin is not illegal in TW, it's just like most of the world not REGULATED, yes that's truth that bitcoin ATM is forbidden in TW. but that's still the same with most of the world isn't it? how many countries have BTC ATMs...

and about bitfinet's bank issue, yes now TW banks block their account not allowing they to continue their BTC related transaction. but it's at American bank's request(Wells Fargo).

look! https://www.bitoex.com/
it's a registered company in TW buy and sell BTC. and they have cooperation with the third biggest mart, family mart. you can pay money at any branch of familymart in TW to purchase BTC from bitoex.

so, BTC is definitely not illegal in TW. >:(

At the end of 2013, the Central Bank of the Republic of China and the FSC has released a joint statement that defines Bitcoin as a 'virtual commodity'. Considering the non-currency nature and risk of Bitcoin, the FSC has required banks in Taiwan not to receive or exchange Bitcoin. At present, the FSC’s position on this issue remains the same as before.

I've heard, Bitcoin remains llegal in Taiwan. But it is prohibited to use as an instrument of payment.

It is an open secret that Taiwan is not first world country, so this is not a surprise that they firstly need to be confident in its cryptocurrency before launching it as additional Taiwan currency.

not only in Taiwan in other country's also it is illegal. actually few people doing wrong business like drugs, mafia, prostitution etc. they earning money from this way more so they don't no how to save this money and where to save. for that reason they choose to keep in the bit coins form. mostly it is more secure. for that reason somebody trying to keep money in the  bit coins form.

If you are right that it is an entirely different situation. This approach to bitcoin in almost all countries. The government of Taiwan has not invented the way to collect turnover taxes bitcoins and therefore prohibits you to use it as payment. From a legal point of view for that Taiwan must accept the bitcoin currency. Without this, the purchase of goods with bitcoin is a barter transaction. It is not considered a purchase. But rarely what country can boast of independent courts and therefore need to hide such operations to avoid the press of the state.

Bitcoin being a decentralized currency....some countries define it as illegal because they feel that it will create a economic imbalance in their country and will increase illegal activities. Moreover, they also feel that it will reduce their revenue as citizens will HODL it and will not pay taxes on capital gain.

Bitcoin was never declared illegal in Taiwan, however there is also regulators have warned the public that there will be no legal action against scam. Bitcoin ATM is put to ban but still Bitcoin can be purchased, these all facts clearly depict the dual nature of Taiwan against Bitcoin. But it seems things will settle out in the future after Taiwan’s financial secretary  issued a statement that it will follow the path of Japan and have a friendly gesture for cryptocurrency which is definitely a good news for Bitcoin holders in Taiwan.

i'm going to taiwan for my xmas break and i'm wondering if it is illegal even to read or talk about bitcoin there??

I think governments around the world will make illegal statements when the virtual currency is causing big problems in their country.
As happened in Taiwan, their government stated that the recent virtual currency is a major threat to the country's financial ecosystem, the government officially declared that the virtual currency is illegal in Taiwan.

The announcement came after a recent high-profile incident wherein a prominent Hong Kong business tycoon was kidnapped by a criminal gang who demanded HK$70 million (approx. 30,000 BTC or over USD $ 10 million) in Bitcoin. The victim was rescued soon after a payment of HK$13 million (approx. 4,800 BTC or USD $1.6 million).

I don't think the bitcoin is illegal in Taiwan, on the contrary, Taiwan is a bitcoin friendly nation not like China:

https://www.cryptocoinsnews.com/taiwan-follow-bitcoin-friendly-japan-avoid-china-south-korea-ico-bans/

So there are even allowing ICO on crowdsale, if they are allowing then you can deduce that they are crypto friendly. I don't know where you got the idea that Taiwan is hostile towards bitcoin or crypto. And soon they will be the #3 countries in Asia leading this revolution of ours, behind Japan and South Korea. So there's no argument here.

I just hope that the news article is true. Because I know how unreliable are these news sites such as Crypto-Coin News and Coin Telegraph. A few days later, the same source will say that Taiwan is following the example of China and South Korea.

I think they have taken affect from China. They do what china do. China has banned bitcoin and to follow them Taiwan also do not accept bitcoin as a regular currency. Nobody knows what the exact reason is but I think the main reason is that china has banned bitcoin and so they are. But if we look the past china has banned bitcoin in 2013 but after some time they gave permission to their people to deal in bitcoin and may Taiwan do the same.

I don't think that it is true as there is no any sources that will support that claim that Bitcoin is illegal in Taiwan.

Even if Bitcoin is illegal in Taiwan I think Taiwanese people can still use it even if their government regulate or ban it because as long as you have an access to a computer or any devices that have internet you can use Bitcoin. Maybe their government only warns their people to take some safety precautions in using Bitcoin for their payment online because there is a lot of malware and malicious thing in it.

From what I can see, they're just reminding people that bitcoin is 'not legal tender' in Taiwan – just like everywhere. Now whether this implies illegality, or a ban, depends on where you live I suppose but I doubt they'll be shutting down any Taiwanese exchanges.Headlines like this have the potential to scare away investors, though.

Last time I checked, they are not illegal in any way, but they reminded they financial institutions to be cautious of bitcoin and crypto's in general. And did you know that there's a Bitcoin ATM in Taiwan?

https://bitcointalk.org/index.php?topic=2422999.0

The presence of bitcoin ATM is a clear sign that bitcoin is not illegal there. And remember that Taiwan-China relationship is very rocky. So I conclude that what decision mainland China does, Taiwan will not follow, on the contrary, they will do the opposite. Like China has put a crackdown on bitcoin, but Taiwan still remains a bitcoin friendly nation.

Thanks for posting this topic that I started a month ago, I was about to post the picture.

Well, i'll post it here again anyway:

https://i.imgur.com/jBKd6YU.png

I was very surprised to see this ATM while waiting for my egg roll to be cooked  ;D and could not help taking a picture. Then I got some information and there are actually 5 ATM In Taiwan.

There is also Maicoin > https://www.maicoin.com/en if you look closely you can see the icon picture of HI-LIFE which every Taiwanese know, this is a convenience store similar to Seven Eleven.
Looking good, I am happy to live there even though I don't speak yet the language very well.

Taiwan government at the moment is continue assessing bitcoin if they will legalize it or not but for sure they have already declared to support the ICO as they will follow the footstep of Japan in handling their bitcoin and ICO but with full regulation to ensure that it will not be used in illegal activities. So therefore these events are showing signs of possible legality of bitcoin and other digital currencies of the nation.

No, it is just rumours and gossips; all information about that is false. In fact they are one of the countries in Asia that legalize the bitcoin and promoting electronic currency for well systemize system in commercial transactions.   

The Chairman of the Financial Supervisory Commission (FSC) has declared Bitcoin to be illegal in Taiwan, following a recent high-profile kidnapping accident involving ransom demands made in Bitcoin.So I suppose nobody has ever kidnapped anyone in Taiwan and demanded cash as ransom? Since they still use money, not illegal yet, than I must conclude this incident is the first kidnapping ever to occur in Taiwan, right? Makes as much sense as making Bitcoin illegal. Make cars illegal, they kill people or, make people illegal, they commit crimes.

In our country also they use the same which says its not a legal tender. This means that the banks cannot use this . Now does it also means that business cannot use it and if it happens than country is on its way to ban the cypto currency in their country. If it starts happening than many country may ban this currency.

Hi mate. I can read Chinese (decently) but cannot really type yet. By any chance, do you please have an article or source about this? From a local media support perhaps?

Basically bitcoin is obviously very different with fiat, from all the all of characteristics of it .. of course it's very different. The emergence of Bitcoi.. it's surely become a new something that every governments from each countries needs to watch out for.
And of course the governments of each countries it certainly have a different responses or knowledge of the crypto currency. Surely they has been to predict any possibility that will occurring and also consider with the rules of law that has been applied.
And I guess.. as long as you can selling bitcoin to local currency in your country, you should not be too concerned about it's legal or not legal.

Why people believe that bitcoin is used in illegal activities or terrorist financing. This fakes which are distributed by the government and the bankers. In fact, cash is much anonimnie. They're impossible to track. The struggle of the government with bitcoin has other reasons. The more democratic a country the more the government hides their true purpose. But tactics all the same. No one wants the proliferation of cryptocurrencies.

As what I read in some information in the internet. All thing regarding this issue is not true and just only allegations.
The Taiwan promotes the usage and concept of cryptocurrency and they one of the countries in Asia that using it in commercial transaction.

Banks avoid using bitcoin because they know bitcoin can beat them in the war of currency and make their use limit. People gets attracted to bitcoin because they know it can provide them ease and comfort. Why the governments are hiding their incompetence by banning bitcoin.

They can also make their currency strong by making it as comfortable as bitcoin. Crimes are not linked with bitcoin they are linked with the mentality of the people

Sometimes, There are countries that can ban the use of Bitcoin but they cannot regulate the purchase, the stacking, and the selling of it for investment.

yes, although it is prohibited, but in my opinion can not immediately stop the activities of its users, such as gambling which in some countries is prohibited, but still there are doing

And Bitcoin's using is illegal in my country too. ;D
It depends on the views of each government of course. Basically Bitcoin is very good role from the financial side and business opportunities are increasingly wide open, but however the countries doesn't want to get a bad impacts caused by  bitcoin's using to the country due less knowledge about the cryptos or how to regulating it till it doesn't have a negative impact on the country's economic system.
By the way it's true in Taiwan Bitcoin is illegal? I had time to read an article, it has been legal on there.

Not just only on having less knowledge but most of the time they do already aware on the things or negative impacts that it would cause or made. This post have bee made on 2 years passed already which means decisions have been made on those years might be already changed as of these days of 2018 which same as you said i didnt see that Taiwan prohibiting bitcoin.

It is not true that they banned bitcoin because it is illegal.  All acquisition that they tell about bitcoin is just false information and there is no basis from it. 
It is just rumours and gossips which we don't need to entertain.  Taiwan supports the company of bitcoin and I don't see anything that is very alarming to banned the company in their country.

I don't think Bitcoin is banned in Taiwan actually they have 2 exchanges that support bitcoin. Bitoex and Maicoin  they can buy and sell transaction and its a gateway for fiat currency transferring to their banks accounts. They can buy at the convenience store like Hi-Life and Family Mart.

At the end of 2013, the Central Bank of the Republic of China and the FSC has released a joint statement that defines Bitcoin as a ‘virtual commodity.’ Considering the non-currency nature and risk of Bitcoin, the FSC has required banks in Taiwan not to receive or exchange Bitcoin. At present, the FSC’s position on this issue remains the same as before

It's amazing that this topic is 6 pages long, starting from a typical rumor "I heard that...". To this day there are 5 Bitcoin ATM in Taiwan, 1 in the city where I live, I posted a picture of the ATM available in Tainan (South West of the country). Mining activity is very common and well known here, but of course it must be illegal, since "I heard it is"  :) in the future it would be perfect if one could check the info he has, before spreading wrong information, but I am probably asking for too much.

I'm thinking differently. I don't think that bitcoin will beat the local currency or bank as currency? I see from the side of its advantages and disadvantages. bitcoin has many shortcomings such as confirmation time (not instant), expensive fees, and so forth. I think one of the reasons why the government forbids bitcoin is illegal activity. agree that ? I slightly agree with the government with its opinion of increased financial crime happening when bitcoin is increasingly popular and legalized. I think we should be honest that bitcoin is prohibited because it is possible to be used for bad actions / crimes

It is ot true, in fact Taiwan is one of the supportive countries in bitcoin services. So you don’t have nothing to worry about since all information you received are false or bluff.

As far as I know in some part of asia bitcoin still not implemented yet , bitcoin is still illegal for some country , such as the philippines and korea. And why they ban bitcoin or still illegal for some one reason , that's been debate for almost a year , the bad image of bitcoin said that bitcoin is a scam and not safe to invest , and another explanation is the lack of knowledge through bitcoin.

Every state has different views on Bitcoin and cryptocurrency.
Some countries classify Bitcoin and other virtual currencies as money and legally, some classify them as assets and legal, some of them illegal and legal with no legal framework in place.
I think, the bitcoin legality will depend on who you are, where you live, and what you do with it.

I'm not sure how Taiwan's law works,but that wouldn't violate US legal tender laws.Merchants are free to demand payment in anything they want (or reject dollars),so long as it is not to pay a debt.

The fact that bitcoin can be used anonymously to transact between users, anywhere in the world, makes it very attractive to engage in criminal activity.
Thus, the government accused the digital currency of being a tool for criminal activities such as buying and selling illegal goods such as drugs and weapons. or for money laundering and tax evasion.
I think that's the reason of partly the government banning bitcoin and making it illegal.

You shouldn't believe that nonsense. Governments don't care about what people use their coins for -- them pointing at Bitcoin being used for illegal purposes is just a smoke screen to hide their own motives. That's how they try to justify their actions so that it doesn't look like an attack solely on Bitcoin itself, don't fall for it. Most people are already aware of the fact that governments don't want you to enjoy one bit of freedom, and especially so when it comes to your finances. It's safe to say that when you as government control people's finances, you directly control the people. Bitcoin doesn't allow any central party to control your finances, which is something governments find worrying and frustrating -- that pretty much explains all these attack on Bitcoin.

Your  quetsion is very strange,first  of all why do you think that they know the real reason? ;D smart leaders know that whole blockchain technology is a new chance to develope their technological and social spheres in the country and not only these spheres,so i think it may be because they have their own interest or in best case scenario they can not control virtual sphere,el.commerce,anyway look at America,this Country is trying to become more popular by their liberal approach because they value it and they see opportunities and not only criminal.

During the early age of bitcoin in Taiwan they were open for this and was following the footstep of Japan and now that bitcoin was used in the crime and was used in crime as ransomed by those kidnappers that time they were awaken that is why they banned it but for sure it will not take too long.

Taiwan, since November 3, 2015. Reason: bitcoin hacking the most important reason is TAX
The subject of taxation is one of the main issues that often arise. Because of the anonymity of Bitcoin pseudo if used properly, the use of Bitcoin to hide assets and help reduce taxation is not too difficult as long as the person follows the precautions to do so. Bitcoin is often classified as an asset in many countries for tax purposes, such as in the United States. While bringing large amounts of foreign currency into a country can cause tax problems, carrying or storing Bitcoin private keys online, making it easier to carry money past checkpoints on the border, where you can liquidate them anytime in the country, effectively can pass this type of tax.

the main reason is MONEY LAUNDER
Money laundering is usually considered in designing a legal framework when Bitcoin is discussed. Taiwan prohibits Bitcoin directly under existing Money Laundering laws. Money Laundering is a major legal issue with Bitcoin because of the ease of transferring money between countries, in seconds without monitoring. Although it can track Bitcoin purchases through banks, but when cash or other hard-to-track methods are used to get coins, they can be moved.

Using Bitcoin to launder money on a large scale is risky, due to the publication of the general ledger. The police are more advanced in studying how to analyze the publication of Bitcoin's ledger, to find out where the money goes. Money laundering is usually illegal in almost all jurisdictions, regardless of how it is done, although some have legal loopholes. Countries like South Korea have given legal advice that they will not ban Bitcoin, but for illegal activities such as money laundering using Bitcoin will be

taiwan thinks that it will create imbalance as bitcoin is a decentralized and unphysical currency.

Taiwan’s Minister of Justice, Qiu Taisan, has called for cryptocurrency regulations to be in place by November in the interest of preventing money laundering.

Qui Taisan said the country’s Ministry of Interior, the Central Bank, the Bureau of Investigation and other entities will be involved in determining how to regulate bitcoin. Qui Taisan was interviewed during the financial industry money laundering conference held by the Taiwan Financial Services Coalition, according to the Central News Agency.

Government Studies Crypto Regulation
The government’s Legal Department invited two domestic virtual currency operators on April 10 to learn about virtual currency operations, the report noted. The department will be knowledgeable about “control mechanisms” prior to the Asia Pacific Anti-Money Laundering Organization in Taiwan at the end of November.

Gu Lixiong, the chairman of the Financial Supervision and Management Commission, also said the control of bitcoin and other virtual currencies is focused mainly on the prevention of money laundering. In order to prevent bitcoin from becoming a money laundering tool, the commission has asked banks to list the account of the bitcoin sales platform as a “high-risk account.”

A Change In Regulatory Outlook?
In October, Wellington Koo, then Taiwan’s Financial Supervisory Commission chairman, told a joint session of the parliament and the cabinet that Taiwan will not follow the paths of China and South Korea in an outright ban on crypto-related activity. Instead, the head of Taiwan’s financial regulator pledged to adopt a friendlier stance to support the development and adoption of both cryptocurrencies and blockchain technology in the country.
Last month, the new governor of Taiwan’s central bank, Yang Chin-long, expressed “uncertainty” over cryptocurrencies’ function as a payment instrument. He was asked about the matter after a number of central banking counterparts around the world explore a blockchain-based state cryptocurrency.

Yang Chin-long claimed cryptocurrencies aren’t working as payments, citing their speculative nature.

Source: https://www.ccn.com/taiwan-calls-for-aml-measures-for-cryptocurrency/

It is a pity if the Taiwanese government makes Bitcoin illegal in the country. Whereas Bitcoin can greatly change people's lives for the better and more fulfilled. Taiwan's government should be able to see the good side of Bitcoin. And do not assume that Bitcoin is bad for his people. Hopefully, this decision can be changed.

Yah I came across many News stating Taiwan government has announced crypto exchanges are not allowed in the country. This has been happening with many countries if you are updated with everyday news and articles. It's just the business between fiat's and crypto currencies. But at last whose economy grows well is the point here.  Those who accepted bitcoin and other crypto currencies, will have growth in their economy. But to those have not,  bit sad for their lack behind the growth.

No they did not ban it but they well just regulate it to ensure that it will not be used in illegal activities especially money laundering so it is safe to invest here while Bitcoin is not legal but not ban so better to invest as much as they can so that they could enjoy Bitcoin investment without tax as per latest news update they will declare it legal and regulated on November this year. here is the links https://www.ccn.com/taiwan-calls-for-aml-measures-for-cryptocurrency/

I heard there's been a murder and robbery that has something to do with bitcoin, a bitcoin break-in that has claimed the victims to be the government's attention in Taiwan and forbids the use of bitcoin to avoid further casualties.

I do not understand the countries that banned Bitcoin. it's ridiculous to have it especially in the back countries. they must be supportive, should not be obstacles.

Wrong intent. It once again makes clear why we should strive for decentralized applications to enhance our lives and the freedom we all deserve to have. In all seriousness, aren't we all somewhat responsible for allowing the governments to do this to us? Bitcoin is the perfect tool allowing us to cut through this cycle and finally do what is better for everyone, and not better for the financial status of our government.

When people stop ignoring the serious nature of how rotten this system is, and finally wake up, the world might actually become a better place. Governments have proven to not do anything for the better, the last decades serve as clear proof of how rotten this on debt system is. It will eventually implode, but when, that's the only relevant question. The lower your fiat exposure is, the lower the consequences of an imploding system will be for you personally. I have taken the necessary steps already.

Is this true or maybe I just missed something when the news came out. I was planning to go to Taiwan because I thought it was legal to use bitcoin and other cryptocurrencies there. I just wanted to try out like a coffee shop there that accepts these cryptocurrencies aside from traveling for a vacation in this place.

What is good for one country might not be good for another country and is why some countries over the world do accept and ban bitcoin as the development of each countries differs, and most a times the ban could be attributed to the wrong use of bitcoin and other altcoins. 

In general, it is unfortunate that a ton of countries refuses Bitcoin (like, Taiwan, China..), and many are even afraid of their existence in the market and their development over time. In fact, they are always trying to destroy the digital currencies in general through many attempts (like, Twitter, Google, Facebook bans crypto ads), but fortunately they failed to achieve their goals, because Bitcoin is very strong and secure.

Furthermore, I do not think that this bad decision from Taiwan will last long, especially if bitcoin will develop in the near future and this is very likely to happen after a few months, then there will be a great possibility that Taiwan will recognize Bitcoin as a legal currency, It is possible that many countries will make the same decision.

Government would still remain into this rotten system since they do know that they are having the full control or do acts as a monopoly when it comes to power.People are blinded and only a few do able to see the light when it comes to crypto or on bitcoin itself but i wont still believe that people will collaborate their beliefs and would stand against the government.They do know the possible consequences when they do such thing.

Just like other countries that haven't or failed to grasp and adapt to emerging
techs and innovations like cryptocurrencies and bitcoins there will always be
a phase and time to deem it illegal and be rejected. But sooner or later as
these nations realize and see the fitting potential these innovations can offer,
they too will integrate them in their economies and markets. We will just have
to wait and see. A lot is still in-stored for Bitcoins in the coming months and
years to come.

For those countries that are making bitcoin as illegal, well I do understand them but at some point it is also disappointing that they are making decisions on their own without seeing the whole story and how it would benefit in their country and their people.

I also can't understand every country creating obstacles for not accepting BTC.

How can you understand governments prohibiting the use of Bitcoin? It's all done to severely limit people's freedom, which directly also means that they on purposely don't allow their economy to develop, which is pathetic.

If you take all that in consideration, then it's clear that the system there is only functioning to feed the elite at cost of their country, and you understand that? I definitely can't and never will understand that.

We all strive for a better world, and that better world won't ever emerge with how governments on purposely prevent their economy from growing. People don't have to deal with this nonsense anymore thanks to Bitcoin.

Every government has their own view about crypto and the Taiwan government has already stated that bitcoin can lead to new crime in online finance and make many corruptors easily make money laundering, that's what the taiwan government says. we ought to respect that because of that their view. hope the development of world technology change their policy..

Some countries are not allowing Bitcoins as legal currency. So you can purchase Bitcoins and hold it because due to success of Bitcoin various countries are opening their door for digital currency and your country will be one of them.

according to me because of the kidnapping of ransom in the form of Bitcoin. the government immediately stated that the use of Bitcoin in Taiwan is illegal.

Yes I also heard the news that Taiwan government announced bitcoin as illegal in their country. It happened in so many countries. At the same time most of the countries now accept bitcoin in their country. So this will make change in other countries also. Once it will succeed in one country automatically the other countries doors will open. The main reason Taiwan government not accepting bitcoin is people use it for illegal purposes. Because there is no tax or other security purpose for bitcoin money. They think that this will mislead the people to use it for illegal way. Let's wait and see what the changes will come in future.

we have never heard the news. we think that many countries like bitcoin currency are not yet legal, this is why bitcoin still has not increased the higher value. but if they review more countries or stores accept the currency bitcoin, maybe most bitcoin for the country will receive bitcoin currency is a legal status ..

many countries impose different laws and regulations in their respective countries, thus maintaining the practice of the Bitcoin currency. So far not have a country that prohibits the currency whose name is bitcoin. if you can use bitcoin currency, buy or hold. They just do not want to understand to use as a means of payment in a transaction.

I try not to ask "why". If bitcoin is banned in any country, you can always find another jurisdiction. In addition, it is easy, given the anonymity of the bitcoin network.

Yes i also heard the news that usage of bitcoin is ilegal in Taiwan. They want to avoid the people using bitcoin for illegal purpose. Because bitcoin is the easy way to earn money easily. This is now normal that countries ilegalizing bitcoin. But at the same time many countries now accept bitcoin as legal in their country. But they announced some rules and regulations to use bitcoin. Because in future the digital currency will be accept by all countries. So in future Taiwan also reconsider its decision and accept bitcoin as legal.

 I think, Taiwan government wants to control on their currency but they can not control bitcoin users. That's way i hope one day government can be roll back order against bitcoin and would be accepted as a legal digital currency.

Bitcoin being a decentralized currency....some countries define it as illegal because they feel that it will create a economic imbalance in their ...

Maybe because that country sees bitcoin or cryptpcurrency on a different perspective as a thing which cannot helps them prosper so thats why their government illegalize it. I believe they did not ban it in purpose and they are the one who should convinced by those cryptocurrency supporting countries to change their minds.

Bitcoin is facing many hardships in Asia. First in China and Indian, and now in Taiwan? And what is your source? I have never heard of it banning bitcoin. But if that is true, then they have dont the wrong choice. Many countries are banning bitcoin and many are accepting it which is I reckon to be the right thing to do.

Added to that, perhaps the government considered it to be a threat to it because people would stop relying on banks. So I think that's why they banned bitcoin

Yes this is true in Taiwan bitcoin would be announced as illegal. The Taiwan government wants their people to avoid illegal activities using bitcoin. If bitcoin is legal then people wont go to banks they just invest in bitcoin they can easily make more profit in a short period. If it happens this is a great loss to the country's economic growth. So they banned bitcoin in their country. Not only taiwan now so many countries annouced bitcoin as illegal. But at the same time many countries accept bitcoin as legal with some rules and regulations.

The real reason for Bitcoin's ban in the country is to put pressure on the people of Taiwan, which begins to show increasing interest in buying and even paying for services and accounts using crypto currency

I don't see any news someone was arrested because of a Bitcoin transaction in Taiwan, the report you've heard perhaps about someone that was suspected of having Bitcoin on his possession and trying to cash it out and people are doubting that he has a lot of money now but they know that a person has no job at all... many cases happen this day everywhere...

Others think that he is doing something illegal...

I also haven't heard about the news, and it seems that the ban does not have a big influence on the bitcoin market, because I've
never heard of it, you're right many countries have not given a response about bitcoin, but even a ban will not inhibit the use of bitcoin..

Maybe it is true but for me it is just matter of time, if BIG countries will make moves into crypto and make it legal other countries like for example Taiwan could follow those moves.

This question and news are very old, anyway i also heard the news Taiwan government announced bitcoin as legal in their country. People are not allowed to use bitcoin foe any purpose. Because they want to control the people to avoid ilegal activities used by bitcoin. But at the same time if many countries accepts bitcoin as legal means then automatically other countries also consider about the legalization in their country also. If government accepts as legal means then the economic growth of the country will be great.

Yes, Taiwan has declared Bitcoin to be illegal in the country. The announcement came after a recent high-profile incident wherein a prominent Hong Kong business tycoon was kidnapped by a criminal gang who demanded HK$70 million (approx. 30,000 BTC or over USD $ 10 million) in Bitcoin. The victim was rescued soon after a payment of HK$13 million (approx. 4,800 BTC or USD $1.6 million).

Source: https://www.ccn.com/bitcoin-declared-illegal-in-taiwan/

it seems not entirely correct, because even though the word says illegal, but there is still a lot of bitcoin in circulation even though it is still in the form of assets, and I think Taiwanese people themselves are well aware that the current technology is outdated, so they know that in the future the money used is the crypto currency, but the government still forbids maybe they want to protect their own currency, or they are still studying and the possibility they will apply taxes to bitcoin users.

indeed, in Taiwan, bitcoin transactions are illegal, but there are still many people doing coin and altcoin trades. I hope Taiwan's decision will change soon.

It is true that you are saying whether legal or not, bitcoin will return to the country we live in, it is not legal or not as long as the state does not prohibit it, even though the state only considers bitcoin to be equivalent to gold but the exchange still runs smoothly and does not matter.

I think it's because of Taiwan's banks. because it is the number 1 enemy of crypto banks in the country. so many countries do not deal with bitcoin or crypto because of those banks.

We can not blame Taiwan or other country who banned bitcoin or announce that it is illegal in their country. Because some country wants to avoid some illegal activities inside their country thats why they banned bitcoin. Admit it they can use Bitcoin in any illegal activities which is wrong because we are all suffer if many countries will banned because of that doing.

Speaking of using a currency that is used for illegal act then I'm not sure one of the way they use bitcoin. All currencies can be used for illegal act without being known by the government or by other people, moreover money fiat use is more dangerous if used as an illegal payment system because it cannot be tracked by anyone unless the person who make the transaction tells to others. So, I am quite doubtful if a government decides to ban bitcoin just because it can be used as an illegal payment system while money fiat itself can be used easily to do that.