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Author Topic: Are bitcoin investors violators?  (Read 814 times)
livingfree
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December 22, 2024, 10:11:37 PM
 #81

AFAIK, those people that have bought Bitcoin in the countries where it is illegal have bought it first before they made it into and pass a law saying that Bitcoin is illegal.

To be honest, it's your personal finances and even it says that it is prohibited because for some personal reasons of the government, nothing is violated in a global outlook.

A global outlook doesn't work if the laws within the country of your residence don't allow you to do something. You can't give the excuse that something is legal in other countries or on a global scale when you are caught using it when it's illegal within your country. Suppose your government bans Bitcoin and cryptocurrencies and says using or accessing them is unlawful. In that case, you can't do it unless you can access platforms without regulations and be able to get involved secretly.

Also, if someone had bought Bitcoin or cryptocurrencies when it wasn't illegal and then laws are made and it becomes illegal, you will have to sell your assets if you have them in a centralized exchange because transferring them to a wallet where you wish to store them might get you in trouble because it will get linked with your identity through the centralized exchange you were using.

If you have always had your assets in a non-custodial wallet and the wallet service doesn't get banned, you can probably keep them despite the legal status.
Yeah, that's the perspective that I am saying. But it doesn't mean that it should be followed by these countries that have banned Bitcoin.

They're not that a lot though but those people that are also part of our community and have invested a lot needs to take care of themselves.

We don't know how the laws there are too strict when they've been caught knowing that they're also Bitcoin investors.

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