This is debatable, places like Bermuda is also good enough to launch an ICO
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Bitcoin is a legal crypto currency depending on which country its being used. Some countries have their own rules
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Nigeria, South Africa, Kenya, Zimbabwe, Ghana
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This is fantastic news! Lets hope in 12 months most countries have followed suit.
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Interesting observations!! LOL
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It all depends on the laws of your country. In my country its perfectly fine to do so
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KYC is a legal process and it ensures the owner that you are not a scammer or illegal buyer
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Generally, an ID or proof of address is only required if there is an airdrop taking place. However, in certain countries there are quite a bit of illegal things taking place which is equivalent to bribery, corruption and so forth. I have purchased bitcoin under my full name and surname I did not however provide an ID document but rather my banking details in order to exchange/purchase BTC
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South Korea has been flirting with banning cryptocurrency trading for some time now. However, now it appears the country is backtracking. Bloomberg reports that South Korea's regulators have indicated that they will continue to support "normal" trading of the cryptocurrency.
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According to my studies, there are two concepts in Islam:
1- The investment should be made completely in business shares or currency
2- There should be some solid business or work happening behind that share or currency.
To further describe the first point: There are two concepts.
1- Buy with full cash: I want to buy 2 BTC at $2500. So I will pay hard cash, i.e $5000 and buy BTC against it. When the rate increases, I will sell it out. That according to my homework is 100% permissible and Halal.
2- Margin Trading: Buy 1 BTC , pay $100 and remaining is to be paid after 1 month. During one month you find a customer, sell it to him. Then return 2400$ to original owner and keep the profit. That is HARAM and NOT PERMITTED is Islam. It is making profit over something you are not owner of.
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As far as I know I think that only European countries are allowed to open casino's as it is legal in Europe. If it is illegal in your country you really should not try it
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In my opinion Bitcoin can ruin a country or boost it's economy. The more trade that takes place the higher the currency will increase. In terms of ruining a country if all stores decide to trade their items for bitcoin.
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Yes, Bitcoin is legal is certain countries in fact it is legal in most countries around the world that I am certain in the future all countries will legalize bitcoin because of it's over powering force to the economy
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In my opinion being a citizen of a country just like how rules apply to adults they should apply to minors as well especially when it comes to money as sometimes minors tend to do reckless things when it comes to selling/spending or even exchanging.
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I don't think that it would be wise to purchase anything illegal for bitcoin. Especially if these specific illegal businesses can potentially steal all your BTC/ETH
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Bitcoin has no definite age restrictions. Perhaps ICOs do but as far as any Alt coins there are no age restrictions
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Currently there are only two countries that have classified cryptocurrency as digital assets namely Switzerland and Singapore.
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Bitcoin in Pakistan is about to become an illegal entity, with the Federal Investigation Agency recommending the government to declare such digital currencies as persona non grata. The Federal Investigation Agency further recommended the Pakistani government to include definitive and distinct punishment related to Bitcoin, under the Prevention of Electronic Crimes Act.
With Bitcoin in Pakistan having established itself as a significant unit of exchange, this is a major blow to the cryptocurrency. It had been hoped that further growth could be achieved in a developing economy such as Pakistan, but this now seems unlikely for the foreseeable future. And the wavering legality of Bitcoin in Pakistan is indicative of a tendency across such emerging economies to legislate against the digital payment system.
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In all honesty it mainly depends on whether the ICO is trustworthy or not. The main reason for KYCs are to ensure that the ICO is not being scammed. All that is required is proof of identity including a name and surname that matches the ID document. It is very rare where a specific country is redone and asked for proof of address this is only because of the many syndicates that go on, eg: Multiple people from a certain country enter multiple times under different names. There are actually contracted workers who verify KYCs so in my opinion your information is safe.
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