i heard bitcoin illegal in Taiwan...why?

[SixOfFive]

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.

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[senne]

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.

[cryptounicorn]

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??

[supandi wiharja]

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.

[savushkinTA]

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).

[Siren]

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.

[RamBahadur.Gurung]

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.

[MMA]

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.

[jekjekman]

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?

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.

[ralf2018]

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.

[Kemarit]

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.

[junoreactor]

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:



I was very surprised to see this ATM while waiting for my egg roll to be cooked   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.

[marcbitcoins]

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.

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.

[QuartzMen]

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.   

[jungwong]

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.

[reliable]

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.

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.

[junoreactor]

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.

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?

[Budugbass]

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?

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.

[Coffee135]

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.

[s31joemhar]

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.