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Author Topic: why bitcoin illegal in asia?  (Read 9211 times)
bs9
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August 27, 2017, 01:28:41 AM
 #1

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

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August 27, 2017, 01:30:39 AM
 #2

I have not heard of this before.  Is it their governments are more interested in controlling everything.

See my thread little known altcoins with potential:
https://bitcointalk.org/index.php?topic=1969011.0
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August 27, 2017, 01:32:56 AM
 #3

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

Could be anything ranging from private corruption to just a conservative government. I am sure in some countries private countries pay politicians or decision makers to not allow bitcoin because if bitcoin becomes really big, it can cause losses to those corporations.
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August 27, 2017, 01:43:01 AM
 #4

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks


Depends on where you are at. Its fine in a bunch of Asian locales, but again, you would have to define Asian a little more specifically. As far as I see, only Kyrgyzstan, Saudi Arabia and Bangladesh has expressly forbid/prohibited btc/cryptocurrencies. The common feature of all these governments is they are a Muslim majority. This is curious, is there something in the Koran against bitcoin, or more specifically, speculation on it?


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August 27, 2017, 02:13:12 AM
 #5

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

Any proofs of this statement? I am from Asia and I had never heard or read this until you post this. Maybe there are some places in the Asia where it is illegal but not in my country. Maybe reading this can help you. Click Here.

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August 27, 2017, 02:26:02 AM
 #6

i'm from asia, but my country not legal this bitcoin, and if there some countries in asia been legal, maybe in the near future my country will follow others country to legalize this, we just wait

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August 27, 2017, 02:27:02 AM
 #7

i dont hear anything like this before as in Asia bitcoin is illegal. but maybe some parts of the world bitcoin is prohibited at not illegal, because it will be a huge part of corruption by government officials, they will not use bank and fiat for there transaction as they have name on it but use digital currency like bitcoin to hide their identity these maybe the reason why some parts of the world [not only in Asia OK!] bitcoin is prohibited and again NOT ILLEGAL.

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August 27, 2017, 02:29:30 AM
 #8

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

I think it's not illegal, but it's in the gray zone. This means it has no legal situation. For example, In Japan, bitcoin is legal and considered as an economical asset officially. If China and South Korea take similar decissions, it will be totally legit in Assia. The governments are scared of not controlling money laundering. Then they ban bitcoin.

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August 27, 2017, 02:36:25 AM
 #9

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks
It is not illegal. It is just that it's on the process of legalizing so it's not yet allowed to be used on buying things in countries where it is not yet legal as a currency. Maybe because of its volatility. But there are already countries where cyrptocurrencuy including Butcoin is legal such as in North Korea, Japan and more. But hopefully, it will be legal to most of the countries in the near future, for people to experience the advantages of Bitcoin and how profitable it is.

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August 27, 2017, 03:19:00 AM
 #10

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

in my opinion, why some country in asia was banned to use bitcoin : because bitcoin is electronic data. Thus, it’s not considered a currency and can’t be used for payments, and is not considered legal tender like money. With no self worth, the value of such data varies based on the needs of the market. Bitcoin changes in value very quickly and it could became something of no value if none desired it.
Effectively, bitcoin is just electronic data with no intrinsic value, and its value rises or falls depending upon the whims of the market. Furthermore, consumers' legal recourse will be severely limited in the case of any claims over coins stolen or sent to the wrong wallet, or over goods purchased with bitcoin but not received.
for example bitcoin illegal  some asia country is thailand, Over the past nine months, the illegal status of cryptocurrencies in Thailand has been an issue of great confusion but bank of Thailand just Suggests Bitcoin Not Illegal But Warns Against its Use.
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August 27, 2017, 05:24:47 AM
 #11

I never heard the news that bitcoin has become an illegal thing in Asia, and there is no news to say about it. Even japan, and other countries have legalized bitcoin, and use bitcoin in their country.

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August 27, 2017, 06:30:29 PM
 #12

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks
Yes just some of the Asian countries have legalized bitcoin but that's not up to 50%, maybe the reason their government sees bitcoin is a new innovation for digital world payment tools so they adopt bitcoin for a good cause in the future.



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August 28, 2017, 11:17:33 AM
 #13

All over the world bitcoin use now many ways.But few asia country donot allow bitcoin there.I donot know excectly why bitcoin illegal country.Many online payments and buy anything from online mostly provides bitcoin.But local bank and bitcoin agent donot compromise each other it s can not be possible for legal in this country.i think many asian country dont know more about bitcoin.Blockchain most securied transaction online now,if  any body know it or local bank donot research for this  they dont understand .So i hope bitcoin try to discusson legel for this asian country.

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August 28, 2017, 12:39:05 PM
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This is what I know:
-"The threat of serious financial crime is constantly evolving, as new technologies emerge and criminals seek to nefariously exploit them. These measures ensure there is nowhere for criminals to hide," said Australia's Minister for Justice Michael Keenan in a press release.
So far in both Japan and China, the 'Know Your Customer' and anti-money laundering processes of exchanges have become stricter, but this has not deterred trading activity as Japan and China remain the largest markets for cryptocurrency trading globally.


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August 28, 2017, 12:52:46 PM
 #15

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

If you are asking for more information then you should be more explicit in your question such as giving a link or source of the information because to the best of my knowledge, I don't think bitcoin is illegal over there and if it is, the government of the country knows the reason why they are taking that route in the face of digitalization.

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August 28, 2017, 01:53:01 PM
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bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks
Legality by Asian countries:
 +China: Restricted -  Exchanging bitcoins by people is lawful in China.
 +Hong Kong: Yes -  In any case, the power will be firmly viewing the utilisation of bitcoins mainly and its improvement abroad.
 +Indonesia: Restricted - All risks regarding ownership or use of Bitcoin are borne by the owner or user of Bitcoin and other virtual currencies.
 +India:  Restricted - India presumes that Bitcoins can be utilised for hawala exchanges and subsidising terror operations.
 +Israel: Yes - The Israel Bar Association considers the virtual money a fitting type of installment for lawyers.
 +Japan: Yes - You know! sure  Wink
 +Kyrgyzstan: No - According to national law, the use of bitcoin and similar currencies is illegal.
 +Malaysia: Unrecognised -  The national bank won’t direct Bitcoin operations right now, and clients ought to mindful of the dangers connected with bitcoin use.
 +Philippines: Yes -   Bangko Sentral ng Pilipinas (BSP) will be monitoring the possibility of Bitcoin usage in money laundering and other illegal purposes.
 +Russia: No -  In February 2014, Russia’s Prosecutor General’s Office guaranteed that bitcoin is a cash substitute and “can’t be utilised by people or lawful elements.” In September 2014, Deputy Finance Minister Aleksey Moiseev reported that a law will be gone by Spring 2015.
 +Singapore: Yes -  Organisations that have an arrangement with bitcoin money trades will be saddled in light of their offers of bitcoins.
 +South Korea: Yes - There are no regulations in South Korea regulating the utilisation of bitcoin at the moment. On December 12, 2013, the president of the Bank of Korea recommended at a press conference that bitcoin be regulated in the future.
 +Taiwan: No - Alongside China, they have discharged a joint articulation against the utilisation of bitcoin. Truth be told, controllers have even went as far as to piece endeavors of establishment of Robocoin ATM. While bitcoin itself is not illicit, endorsements for bitcoin ATMs have been disallowed.
 +Thailand: No - A Bitcoin startup denied a business permit which was supposedly informed that purchasing and offering bitcoins, utilising bitcoins to purchase or offer merchandise and administrations, and moving bitcoins all through Thailand were all presently unlawful.
 +Vietnam: Restricted - Being one of the rare countries to ban bitcoin outright, the use of bitcoin in Vietnam is restricted. Despite this, there are still some small businesses that accept bitcoin.
 +Turkey: Yes - Bitcoin is not regulated as it is not considered to be electronic money according to the law.
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August 28, 2017, 02:25:27 PM
 #17

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks
Legality by Asian countries:
 +China: Restricted -  Exchanging bitcoins by people is lawful in China.
 +Hong Kong: Yes -  In any case, the power will be firmly viewing the utilisation of bitcoins mainly and its improvement abroad.
 +Indonesia: Restricted - All risks regarding ownership or use of Bitcoin are borne by the owner or user of Bitcoin and other virtual currencies.
 +India:  Restricted - India presumes that Bitcoins can be utilised for hawala exchanges and subsidising terror operations.
 +Israel: Yes - The Israel Bar Association considers the virtual money a fitting type of installment for lawyers.
 +Japan: Yes - You know! sure  Wink
 +Kyrgyzstan: No - According to national law, the use of bitcoin and similar currencies is illegal.
 +Malaysia: Unrecognised -  The national bank won’t direct Bitcoin operations right now, and clients ought to mindful of the dangers connected with bitcoin use.
 +Philippines: Yes -   Bangko Sentral ng Pilipinas (BSP) will be monitoring the possibility of Bitcoin usage in money laundering and other illegal purposes.
 +Russia: No -  In February 2014, Russia’s Prosecutor General’s Office guaranteed that bitcoin is a cash substitute and “can’t be utilised by people or lawful elements.” In September 2014, Deputy Finance Minister Aleksey Moiseev reported that a law will be gone by Spring 2015.
 +Singapore: Yes -  Organisations that have an arrangement with bitcoin money trades will be saddled in light of their offers of bitcoins.
 +South Korea: Yes - There are no regulations in South Korea regulating the utilisation of bitcoin at the moment. On December 12, 2013, the president of the Bank of Korea recommended at a press conference that bitcoin be regulated in the future.
 +Taiwan: No - Alongside China, they have discharged a joint articulation against the utilisation of bitcoin. Truth be told, controllers have even went as far as to piece endeavors of establishment of Robocoin ATM. While bitcoin itself is not illicit, endorsements for bitcoin ATMs have been disallowed.
 +Thailand: No - A Bitcoin startup denied a business permit which was supposedly informed that purchasing and offering bitcoins, utilising bitcoins to purchase or offer merchandise and administrations, and moving bitcoins all through Thailand were all presently unlawful.
 +Vietnam: Restricted - Being one of the rare countries to ban bitcoin outright, the use of bitcoin in Vietnam is restricted. Despite this, there are still some small businesses that accept bitcoin.
 +Turkey: Yes - Bitcoin is not regulated as it is not considered to be electronic money according to the law.
Wow, thanks Crosshair for the detalised info.

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August 29, 2017, 01:47:36 AM
 #18

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks


Depends on where you are at. Its fine in a bunch of Asian locales, but again, you would have to define Asian a little more specifically. As far as I see, only Kyrgyzstan, Saudi Arabia and Bangladesh has expressly forbid/prohibited btc/cryptocurrencies. The common feature of all these governments is they are a Muslim majority. This is curious, is there something in the Koran against bitcoin, or more specifically, speculation on it?


I don't think it is Koran, Muslims are very much into stock market or specualtion stuff. Also, I don't think that something near to Bitcoin is present or prohibited in Koran. Many Muslim dominating countries are into Bitcoin.

Anyways, in Bangladesh it is banned because country's strict anti-money laundering laws. In Saudi Arabia and Kyrgyzstan, it is more about Government being against Bitcoin or virtual currencies.

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August 29, 2017, 07:21:57 AM
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As I know should a few countries have accepted bitcoin and have decided to actually create laws that govern bitcoin transactions. The first country to completely accept bitcoin was Japan. Starting on the 1st of April, bitcoin was considered a legal form of payment in Japan, with several public institutions accepting it as currency. The laws governing banking have yet to change, but these are also being considered in order to make bitcoin even more usable.

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August 29, 2017, 05:15:03 PM
 #20

Asia is the major market for Bitcoin. There is a surge in demand for bitcoin in Asia recently which includes South Korea, Japan, India, China, Singapore, Indonesia as the major countries driving the growth. There might be some 3-4 countries in Asia where Bitcoin is illegal. Asia has almost 48 countries among which if it is banned in 3-4 countries, then that doesn't means Bitcoin is banned in Asia as whole.

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August 29, 2017, 05:19:05 PM
 #21

maybe OP is from North Korea since that's the only country inside my mind that will not allow crypto currency and such event that they are being
controlled by Kim and most of the countries already adopting bitcoin so I don't know where OP basing his opinion about legalities of bitcoin.

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August 30, 2017, 05:10:48 AM
 #22

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

I don't have a list of countries where Bitcoin is expressly prohibited by their governments. In those places, the government can just be lacking the needed understanding and appreciation of Bitcoin and the authorities can be feeling like threatened to something they can not control with. However, in those places, as long as there can be an internet and a way to pay internationally, people can still get involved in a subtle way...just don't announced it to the whole world that you own Bitcoin or you can be in big trouble.

Other countries do not have a clear and well-defined stand on Bitcoin so people can still get involved though there is no expressed approval from the government and there is no legal framework which can be used especially in establishing a Bitcoin related business. I am sure that there are many who are holding Bitcoin though they are just being silent about it for fear of encroachment from their own government.

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August 30, 2017, 05:29:11 AM
 #23

There are maybe some countries that not recognized bitcoin as an asset but I think if it will be calculated there are more who uses bitcoin in Asia. I think if it will be illegal in my country, that would be a big loss because many here in the Philippines are really recognizes bitcoin as a form of an asset, I myself engages into this by this year only but inbthis year also it boom in my country because of its high value.

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August 30, 2017, 07:21:09 AM
 #24

Have heard some news recently an Asian country that banned that used of bitcoin after a criminal groups demanding a ransom that be transact through bitcoin. But I won't specifically named the country as I'm not sure of it at this moment. But most asian country bitcoin is not illegal neither legal for some reason because of numbers of users that present on that country.

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August 30, 2017, 07:36:20 AM
 #25

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks
\
Bitcoin is an illegal and unsupported exchange method. BI deputy governor, Ronald Waas, in January said that Bitcoin violated three Indonesian laws. But banks do not have the authority to punish or sanction users. Therefore, consumers can use it at their own risk.

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August 30, 2017, 11:04:22 AM
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I don't think it is illegal. I've heard Japan already legalized bitcoin and they just did nice for welcoming bitcoin for their economic growth. China also holds the largest market for bitcoin even if there are laws restricting bitcoin use in their country. There are some Asian countries who does not permit bitcoin to be used, but not the whole Asia only a few countries.

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August 30, 2017, 11:09:06 AM
 #27

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

Some country forbid bitcoin because of security reason for example bitcoin can be use for money laundry that usually being use by corruptor , terorrist able to use bitcoin to cover their trace, ransonware ,and more advance criminal in the future

I don't think it is illegal. I've heard Japan already legalized bitcoin and they just did nice for welcoming bitcoin for their economic growth. ....

Every country have their own tolerance or policy for bitcoin

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August 30, 2017, 11:18:24 AM
 #28

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

Some country forbid bitcoin because of security reason for example bitcoin can be use for money laundry that usually being use by corruptor , terorrist able to use bitcoin to cover their trace, ransonware ,and more advance criminal in the future

I don't think it is illegal. I've heard Japan already legalized bitcoin and they just did nice for welcoming bitcoin for their economic growth. ....

Every country have their own tolerance or policy for bitcoin
Asia's biggest problem is we have no real democrat governments just because of this they are not going with public as Japan is first country which legalize this now  Philippine is also doing some soft policies for this if continue in some more countries then hope this will be more popular but some countries worrying its can use for Hawala and criminal funding which is baseless

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August 30, 2017, 03:33:37 PM
 #29

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

Some country forbid bitcoin because of security reason for example bitcoin can be use for money laundry that usually being use by corruptor , terorrist able to use bitcoin to cover their trace, ransonware ,and more advance criminal in the future

I don't think it is illegal. I've heard Japan already legalized bitcoin and they just did nice for welcoming bitcoin for their economic growth. ....

Every country have their own tolerance or policy for bitcoin
Asia's biggest problem is we have no real democrat governments just because of this they are not going with public as Japan is first country which legalize this now  Philippine is also doing some soft policies for this if continue in some more countries then hope this will be more popular but some countries worrying its can use for Hawala and criminal funding which is baseless
Really?? Asia don't have any real democratic country??

India is the largest democracy in the world. Bhutan, Georgia, Indonesia, Isreal, Japan, Mauritius, Mongolia, Nepal, Pakistan, Philippines, South Korea, Sri Lanka, Taiwan are all democratic countries. Asia is not all about China, North Korea or middle east.

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August 30, 2017, 06:52:42 PM
 #30

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

Some country forbid bitcoin because of security reason for example bitcoin can be use for money laundry that usually being use by corruptor , terorrist able to use bitcoin to cover their trace, ransonware ,and more advance criminal in the future

I don't think it is illegal. I've heard Japan already legalized bitcoin and they just did nice for welcoming bitcoin for their economic growth. ....

Every country have their own tolerance or policy for bitcoin
Asia's biggest problem is we have no real democrat governments just because of this they are not going with public as Japan is first country which legalize this now  Philippine is also doing some soft policies for this if continue in some more countries then hope this will be more popular but some countries worrying its can use for Hawala and criminal funding which is baseless
Really?? Asia don't have any real democratic country??

India is the largest democracy in the world. Bhutan, Georgia, Indonesia, Isreal, Japan, Mauritius, Mongolia, Nepal, Pakistan, Philippines, South Korea, Sri Lanka, Taiwan are all democratic countries. Asia is not all about China, North Korea or middle east.
But in this list we have most of corrupt leaders in ruling and opposite parties as you can check most of politicians facing very serious cases and most of them have punishments from courts Just Japan is in better shape all others have dirty politics and politicians

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August 30, 2017, 10:36:37 PM
 #31

Bitcoin is illegal in my country as per the statement from government.
But you can see bitcoin accepted here sign board on many shops in the street.
The government have no idea how and what action to take against it's use.

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August 31, 2017, 02:51:42 AM
 #32

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

What makes you say this? It seems to be legal in all but 2-3 countries in Asia. You may want to check bitcoin's legality here: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory#Asia
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September 01, 2017, 02:23:23 AM
 #33

Not all countries in asia consider illegal bitcoin, as japan has legalized bitcoin and vietnam already in the process to legalize bitcoin in its country. Even in indonesia there are some places that accept bitcoin as payment medium.legal its not bitcoin it depend on level of trust of its society to bitcoin itself.
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September 01, 2017, 05:59:50 AM
 #34

I think you are right, currently the bitcoin circulation in Asia is experiencing a significant increase phase maybe this is because the bitcoin price is now so high that it is able to attract everyone to engage in bitcoin, even in some countries like vietnam india Philippines and some others in asia has successfully declared the legality of bitcoin, this proves not all countries in asia are illegal about bitcoin.

   
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September 01, 2017, 09:40:28 AM
 #35

I think you are right, currently the bitcoin circulation in Asia is experiencing a significant increase phase maybe this is because the bitcoin price is now so high that it is able to attract everyone to engage in bitcoin, even in some countries like vietnam india Philippines and some others in asia has successfully declared the legality of bitcoin, this proves not all countries in asia are illegal about bitcoin.

Well i dont think it is illegalized but it is not regulated. Meaning they dont acknowledge btc as means of payment but it could be earn but in an underground sense. Some asian countries even made btc as an economic oppurtunity to at least earn money for there country. Some times its ilegal i think because it cannot be contained by the government or monitored. But i would see that some countries will also adapt btc because it could really help them especially in monetary matters.

                                     
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September 01, 2017, 11:34:40 AM
 #36

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

No its not true, only few countries has restricted the activities related to cryptocurrency. Asia is the biggest market for the bitcoins if we compare it with the western countries.

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September 01, 2017, 04:59:47 PM
 #37

its not only in asia, just that most countries are yet to accept it but soon it will be a global means of exchange
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September 01, 2017, 10:24:34 PM
 #38

yes you are right recently pakistani govt is announced Bitcoin is now illegal  in Pakistan, there is many factors of this,
1: bitcoin have nothing any tracking source.
2: every scammer and criminals are using bitcoin for money transfers which is bad for every country.
3: many peoples are doing scam with using name of Bitcoin like , OneCoin, LifeCoin etc and you know About Dr Ruja who is doing biggest scam in online market via BTC and onecoin there is nothing any type of tracking in BTC trx's so that's why Govt's are converting it into a illegal  Currency.
if you know about more you can search scam list via btc in google
hope the done  your question Smiley

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September 02, 2017, 04:04:41 AM
 #39

They said that It's illegal cause the government still can't control bitcoin trasaction in their country and bitcoin owner still don't pay any pennies for government for tax. That's the main reason and it's the same in my country but the government in my country will control bitcoin in next 2 years. Hope that I'll not have to pay too much money for tax Smiley)

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September 02, 2017, 06:14:06 AM
 #40

Most of the countrys of Asia are not interesting about Bitcoin. I think they are backdated in technologies. Many of them have some law in Financing sector does not allow bitcoin.
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September 02, 2017, 10:59:53 PM
 #41

yes you are right recently pakistani govt is announced Bitcoin is now illegal  in Pakistan, there is many factors of this,
1: bitcoin have nothing any tracking source.
2: every scammer and criminals are using bitcoin for money transfers which is bad for every country.
3: many peoples are doing scam with using name of Bitcoin like , OneCoin, LifeCoin etc and you know About Dr Ruja who is doing biggest scam in online market via BTC and onecoin there is nothing any type of tracking in BTC trx's so that's why Govt's are converting it into a illegal  Currency.
if you know about more you can search scam list via btc in google
hope the done  your question Smiley
Dear can you tell me the source or news article that Pakistan government has declared bitcoin illegal because I can't see any
It would be very helpful

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September 03, 2017, 01:04:17 AM
 #42

Most of the countrys of Asia are not interesting about Bitcoin. I think they are backdated in technologies. Many of them have some law in Financing sector does not allow bitcoin.
I don't think so dude. In asia bitcoin is illegal cause the government can not control bitcoin transaction, it's really hard to know exactly who made transaction. Because of this case,  a lot of people have take advantages of it to do some bad things such as money laundering or tax evasion

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September 03, 2017, 05:08:45 AM
 #43

Most of the countrys of Asia are not interesting about Bitcoin. I think they are backdated in technologies. Many of them have some law in Financing sector does not allow bitcoin.
I don't think so dude. In asia bitcoin is illegal cause the gorvenment can not control bitcoin transaction, it's really hard to know exactly who made transaction. Because of this case,  a lot of people have take advantages of it to do some bad things such as money laundering or tax evasion

i think in asia, the government is not giving any statement about bitcoin is legal or illegal and they allow their citizen to use bitcoin but people can not use bitcoin to buy in local store and only can use bitcoin in online store. beside that, bitcoin is not illegal in asia, maybe only a few people that using bitcoin for illegal activity.

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September 03, 2017, 05:20:56 AM
 #44

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

Some country forbid bitcoin because of security reason for example bitcoin can be use for money laundry that usually being use by corruptor , terorrist able to use bitcoin to cover their trace, ransonware ,and more advance criminal in the future

I don't think it is illegal. I've heard Japan already legalized bitcoin and they just did nice for welcoming bitcoin for their economic growth. ....

Every country have their own tolerance or policy for bitcoin
Asia's biggest problem is we have no real democrat governments just because of this they are not going with public as Japan is first country which legalize this now  Philippine is also doing some soft policies for this if continue in some more countries then hope this will be more popular but some countries worrying its can use for Hawala and criminal funding which is baseless
Really?? Asia don't have any real democratic country??

India is the largest democracy in the world. Bhutan, Georgia, Indonesia, Isreal, Japan, Mauritius, Mongolia, Nepal, Pakistan, Philippines, South Korea, Sri Lanka, Taiwan are all democratic countries. Asia is not all about China, North Korea or middle east.
But in this list we have most of corrupt leaders in ruling and opposite parties as you can check most of politicians facing very serious cases and most of them have punishments from courts Just Japan is in better shape all others have dirty politics and politicians
Corruption in politics is prevelant everywhere with yeah Asia, Africa and South America being the most corrupted but that is what statistics says, might not be actual truth. But I don't see any link between political corruption and Bitcoin legality. With making Bitcoin legal and by taxing it, government in turn will only earn more.

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September 03, 2017, 05:41:39 AM
 #45

There are some countries that prohibit the usage of bitcoin in their countries because bitcoin has been used for illegal activities and some terrorists as what they say so as for protection for them, they totally made bitcoin illegal in their countries for them to avoid something like this happening. Some countries also ban it because it is prohibited in their religion to participate in gambling activities and some illegal activities.



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September 03, 2017, 07:41:33 AM
 #46

There are some countries that prohibit the usage of bitcoin in their countries because bitcoin has been used for illegal activities and some terrorists as what they say so as for protection for them, they totally made bitcoin illegal in their countries for them to avoid something like this happening. Some countries also ban it because it is prohibited in their religion to participate in gambling activities and some illegal activities.
There are some countries that prohibit the usage of bitcoin in their countries because bitcoin has been used for illegal activities and some terrorists as what they say so as for protection for them, they totally made bitcoin illegal in their countries for them to avoid something like this happening. Some countries also ban it because it is prohibited in their religion to participate in gambling activities and some illegal activities.

Have you read this somewhere? I would be interested if you have the link.
For the first reason, it seems to be strange reason, make bitcoin illegal won't stop people to do illigal activities...

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September 03, 2017, 01:56:34 PM
 #47

There are some countries that prohibit the usage of bitcoin in their countries because bitcoin has been used for illegal activities and some terrorists as what they say so as for protection for them, they totally made bitcoin illegal in their countries for them to avoid something like this happening. Some countries also ban it because it is prohibited in their religion to participate in gambling activities and some illegal activities.

I obviously did not see a ban on religious reasons, but what you say makes sense to me, there are millions of people on earth who still have their lives based on religion, I think these people will look at bitcoin with evil eye.



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Rainbot
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September 04, 2017, 04:19:05 AM
 #48

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks
Legality by Asian countries:
 +China: Restricted -  Exchanging bitcoins by people is lawful in China.
 +Hong Kong: Yes -  In any case, the power will be firmly viewing the utilisation of bitcoins mainly and its improvement abroad.
 +Indonesia: Restricted - All risks regarding ownership or use of Bitcoin are borne by the owner or user of Bitcoin and other virtual currencies.
 +India:  Restricted - India presumes that Bitcoins can be utilised for hawala exchanges and subsidising terror operations.
 +Israel: Yes - The Israel Bar Association considers the virtual money a fitting type of installment for lawyers.
 +Japan: Yes - You know! sure  Wink
 +Kyrgyzstan: No - According to national law, the use of bitcoin and similar currencies is illegal.
 +Malaysia: Unrecognised -  The national bank won’t direct Bitcoin operations right now, and clients ought to mindful of the dangers connected with bitcoin use.
 +Philippines: Yes -   Bangko Sentral ng Pilipinas (BSP) will be monitoring the possibility of Bitcoin usage in money laundering and other illegal purposes.
 +Russia: No -  In February 2014, Russia’s Prosecutor General’s Office guaranteed that bitcoin is a cash substitute and “can’t be utilised by people or lawful elements.” In September 2014, Deputy Finance Minister Aleksey Moiseev reported that a law will be gone by Spring 2015.
 +Singapore: Yes -  Organisations that have an arrangement with bitcoin money trades will be saddled in light of their offers of bitcoins.
 +South Korea: Yes - There are no regulations in South Korea regulating the utilisation of bitcoin at the moment. On December 12, 2013, the president of the Bank of Korea recommended at a press conference that bitcoin be regulated in the future.
 +Taiwan: No - Alongside China, they have discharged a joint articulation against the utilisation of bitcoin. Truth be told, controllers have even went as far as to piece endeavors of establishment of Robocoin ATM. While bitcoin itself is not illicit, endorsements for bitcoin ATMs have been disallowed.
 +Thailand: No - A Bitcoin startup denied a business permit which was supposedly informed that purchasing and offering bitcoins, utilising bitcoins to purchase or offer merchandise and administrations, and moving bitcoins all through Thailand were all presently unlawful.
 +Vietnam: Restricted - Being one of the rare countries to ban bitcoin outright, the use of bitcoin in Vietnam is restricted. Despite this, there are still some small businesses that accept bitcoin.
 +Turkey: Yes - Bitcoin is not regulated as it is not considered to be electronic money according to the law.

This is very interesting. It's good to see the number of countries in Asia which accepts and recognizes Bitcoin. I'm a bit surprised about China because I thought that they would outrightly ban Bitcoin, basically they want control for themselves. They even have their own Google, and their internet is basically regulated.

To answer your question OP, I think the reason why some countries in Asia chose to ban Bitcoin or recognize it as illegal because they are mostly traditional and conservative. Some countries are very firm with their religion, customs and traditions and maybe there's something about Bitcoin that they don't like. Most traditional entities reject new concepts and change, because they'd rather stick to the old ways. Another reason may be for security, perhaps they just wanted to avoid some illegal activities done with the use of Bitcoin.
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September 05, 2017, 03:22:59 AM
 #49

I am from indonesia located in asia, i am very grateful because here BTC legal for many people. Perhaps if other countries are aware of the effects of bitcoin legality, the illegal state for bitcoin will legalize bitcoin. hopefully all the countries of this world will legalize bitcoin for the welfare of its inhabitants.
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September 05, 2017, 06:00:56 AM
 #50

OK .One way to protect your USD BTC and Other crypto you need exchange on Ethereum and Doge - because 100 billion and can t not cost 4000... (chine said that expensive btc is dangeros for economice) Оther crypto Chine make down.
  But in November again all on Btc Roll Eyes

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September 05, 2017, 03:17:51 PM
 #51

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks
Which countries in Asia are you talking about? Asia is big Japan is in Asia as well as China but they are leading in bitcoin. Philippines also is in Asia but i haven't heard it forbidden there.

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September 06, 2017, 11:10:35 AM
 #52

because it is out of government system
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September 06, 2017, 02:27:32 PM
 #53

You have some wrong information, bitcoins are not illegal in Asia.
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September 06, 2017, 04:24:21 PM
 #54

There are many reasons for this to be illegal.First reason this country government thinks Bitcoin impact on the economy of the country.Thats why government this announced illegal i think its big reason.

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September 06, 2017, 08:03:22 PM
 #55

The answer is simple. CHINA!
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September 07, 2017, 02:36:25 AM
 #56

Asia is the major market for Bitcoin. There is a surge in demand for bitcoin in Asia recently which includes South Korea, Japan, India, China, Singapore, Indonesia as the major countries driving the growth. There might be some 3-4 countries in Asia where Bitcoin is illegal. Asia has almost 48 countries among which if it is banned in 3-4 countries, then that doesn't means Bitcoin is banned in Asia as whole.




it just for anti money laundering, they cant control cryptocurrencies...thats why some of asia and US country banned of using a bitcoin....but im surely bitcoin will be legal soon...

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September 07, 2017, 02:49:39 AM
 #57

Where you see illegal bitcoin in asia, even I do not see any country that think bitcoin is illegal. actually bitcoin is not illegal but bitcoin does not get more attention from the government, even the government also does not say bitcoin is illegal. legal or illegal bitcoin, bitcoin will still be used by the community.



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September 07, 2017, 05:17:41 AM
 #58

Frankly speaking, we don't care much if bitcoin will be legalized in our country soon. As long as we have this freedom as of now transacting, exchanging from bitcoin to fiat and even buying prepaid load and shopping online were okay with it. We can even withdraw our earnings in so many ways, bank ATM, remittances center and even convenient stores. That's how our situation here and I think it's much better to remain this way.
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September 07, 2017, 10:48:13 AM
 #59

i will not use the terms of 'illegal' in this case (except China)

government in asia, they are still observing, what will happen next?

law makers probably know block chain is the future, but how can we regulate ? to avoid mass tort destruction incident? 
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September 07, 2017, 02:20:40 PM
 #60

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

Which countries? This is news to me. I don't think bitcoin is illegal in any country.Regulated maybe, but illegal? How will they stop people from using it? It's a failed policy.
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September 12, 2017, 12:15:05 AM
 #61

Because bitcoin is a virtual currency that can be used in payment transactions, legality is an important matter that is highly considered by its users. Although most of them still enjoy the benefits of Bitcoin decentralization, the government's or regulators' stances remain important, especially in the future.
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September 13, 2017, 10:24:31 PM
 #62

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks
Legality by Asian countries:
 +China: Restricted -  Exchanging bitcoins by people is lawful in China.
 +Hong Kong: Yes -  In any case, the power will be firmly viewing the utilisation of bitcoins mainly and its improvement abroad.
 +Indonesia: Restricted - All risks regarding ownership or use of Bitcoin are borne by the owner or user of Bitcoin and other virtual currencies.
 +India:  Restricted - India presumes that Bitcoins can be utilised for hawala exchanges and subsidising terror operations.
 +Israel: Yes - The Israel Bar Association considers the virtual money a fitting type of installment for lawyers.
 +Japan: Yes - You know! sure  Wink
 +Kyrgyzstan: No - According to national law, the use of bitcoin and similar currencies is illegal.
 +Malaysia: Unrecognised -  The national bank won’t direct Bitcoin operations right now, and clients ought to mindful of the dangers connected with bitcoin use.
 +Philippines: Yes -   Bangko Sentral ng Pilipinas (BSP) will be monitoring the possibility of Bitcoin usage in money laundering and other illegal purposes.
 +Russia: No -  In February 2014, Russia’s Prosecutor General’s Office guaranteed that bitcoin is a cash substitute and “can’t be utilised by people or lawful elements.” In September 2014, Deputy Finance Minister Aleksey Moiseev reported that a law will be gone by Spring 2015.
 +Singapore: Yes -  Organisations that have an arrangement with bitcoin money trades will be saddled in light of their offers of bitcoins.
 +South Korea: Yes - There are no regulations in South Korea regulating the utilisation of bitcoin at the moment. On December 12, 2013, the president of the Bank of Korea recommended at a press conference that bitcoin be regulated in the future.
 +Taiwan: No - Alongside China, they have discharged a joint articulation against the utilisation of bitcoin. Truth be told, controllers have even went as far as to piece endeavors of establishment of Robocoin ATM. While bitcoin itself is not illicit, endorsements for bitcoin ATMs have been disallowed.
 +Thailand: No - A Bitcoin startup denied a business permit which was supposedly informed that purchasing and offering bitcoins, utilising bitcoins to purchase or offer merchandise and administrations, and moving bitcoins all through Thailand were all presently unlawful.
 +Vietnam: Restricted - Being one of the rare countries to ban bitcoin outright, the use of bitcoin in Vietnam is restricted. Despite this, there are still some small businesses that accept bitcoin.
 +Turkey: Yes - Bitcoin is not regulated as it is not considered to be electronic money according to the law.
Wow, thanks Crosshair for the detalised info.
Woow I love to read it, very simple. but I doubt, where the source of this news. is this kind of a joke?
every statement should be based on a fact, so that everyone can hold the truth and not hesitate.
Everyone in the knowledge is limited, thanks for sharing.


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September 14, 2017, 08:43:14 PM
 #63

The main reason is these governments afraid that Bitcon will harm their national economy cause they can't control Bitcoin and social evils related to Bitcoin such as money laundering or something like that, beside most of people who earning Bitcoin and other cryptocurrencies in these countries do not pay any pennies for income tax and it'll the big losses for government.

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September 15, 2017, 10:37:52 AM
 #64

The last time I checked, countries such as Singapore, Japan and South Korea were also included in the Asian group of nations. And Bitcoin is perfectly legal in these nations as well. And even in China, Bitcoin is not illegal per se. Obviously, the Chinese market is the biggest one and also China is very important in terms of mining power. But Japan is close behind and nowadays a lot of investment from the institutional players have come from that country (and to a lesser extent from South Korea).

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September 16, 2017, 10:44:59 AM
 #65


Your information might not accurately being double checked because I don't see much of news about Asian countries that is banning or declaring bitcoin illegal in they're respected country. Maybe it is one of FUD rumor but it won't worked that way. More countries in the world especially Asian are now legalizing any transactions in Blockchain technology and cryptocurrency like bitcoin.
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September 17, 2017, 02:10:37 PM
 #66

Bitcoin is illegal its not only for asia.Many countries Bitcoin is illegal out of asia i think and its declared by this country government.And they said BTC impact their country economy thats why Bitcoin is illegal.

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September 18, 2017, 03:00:25 AM
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bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

Before I can answer your question. Can you provide more information on what country in Asia your referring to and any list posted would be encouraged. Okay, as long as I remembered correctly I haven't of or read about bitcoin being illegal on any part of Asian continent. I may wrong that's why I'm asking for any links. Because in my country for example bitcoin is not legal but not also illegal were on neutral about it.
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September 18, 2017, 01:35:47 PM
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There are many reasons exist Bitcoin is illegal in asia country.I think Bitcoin breaks their law of goverment issue and its effect their financial platform but i don't know clearly just i express my idea.

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September 20, 2017, 07:50:29 AM
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Bitcoin is still new to when we're comparing to any other investment who were almost a hundred years been existed.. So let the government take time to adapt to it and we will see,, soon how they will be do to calmed down the eagerness from bitcoin users to be recognized.. Let them suffer for the choice the officials they make if they still ignored bitcoin..

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September 20, 2017, 08:45:37 AM
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In a statement the Central Bank of Bangladesh cited concerns over bitcoin’s lack of “a central payment system” which could lead to people being “financially harmed”. It invoked the provisions of the Foreign Currency Control Act of 1947 and the Money Laundering Control Act of 2012. Then, added that trading in bitcoin and other digital currencies could lead to a punishment of up to 12 years in prison.The ban comes as an enforcement of sections 4,5 and 8 of the 1947 law that regulate trading in foreign currency without authorization or general permission from the central bank. Section 5 severely restricts payments did outside Bangladesh, which affect bitcoin payments.
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September 20, 2017, 10:01:56 AM
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bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

i lived in asian county but bitcoin is not illegal on our country and infact our government is slowly approving the biycoin as a secondary currency to be used soon on some malls, restaurant, hotels, grocery store. we even have our fist bitcoin atm but it still need some improvement because some says it alyways offline.

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September 20, 2017, 10:05:00 AM
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Philippines is part of asia but I never heard a news about bitcoin being illegal. Actually BSP(Bangko Sentral ng Pilipinas), has acknowledge coins.ph, a bitcoin wallet in the Philippines. So I guess, only some part of asia doesn't adapt bitcoin.

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September 21, 2017, 11:47:38 AM
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I have read an article, In Japan, more than 260 000 shops accept the payment of BTC from this April Grin
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September 21, 2017, 11:58:09 AM
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Philippines is part of asia but I never heard a news about bitcoin being illegal. Actually BSP(Bangko Sentral ng Pilipinas), has acknowledge coins.ph, a bitcoin wallet in the Philippines. So I guess, only some part of asia doesn't adapt bitcoin.

I'm from the Philippines and all I can say is that it is a bitcoin friendly country. Its is regulated though, so you have to properly submit valid information for KYC/AML compliant before they approved your account in coins.ph. But overall, I don't think that bitcoin is illegal in Asia, maybe in some part, but overall Asia is a safe haven for bitcoin enthusiast. It used to lead by China, but we all know what is the story, So Japan and South Korea is now the new leader in Asia. We may see in the future that a lot of Asia countries will embrace bitcoin as well.

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September 21, 2017, 07:46:08 PM
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Asia is a very large continent, and this generalization is unfortunately wrong, and Japan and Russia have important steps, Singopore and Malaysia remain out of this list.



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September 23, 2017, 03:00:48 AM
 #76

i'm from asia, but my country not legal this bitcoin, and if there some countries in asia been legal, maybe in the near future my country will follow others country to legalize this, we just wait
Yes I agree because bitcoin is not illegal in whole Asia. Because i'm in Asia and my country is Philippines. Bitcoin in Philippines is legal and I can say that there are only a few countries have been banned like this country china, Thailand.
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September 23, 2017, 03:09:58 AM
 #77

i'm from asia, but my country not legal this bitcoin, and if there some countries in asia been legal, maybe in the near future my country will follow others country to legalize this, we just wait
Yes I agree because bitcoin is not illegal in whole Asia. Because i'm in Asia and my country is Philippines. Bitcoin in Philippines is legal and I can say that there are only a few countries have been banned like this country china, Thailand.


not all country in asia said that bitcoin is illegal because as i read in previous comment, china and thailand is not approve bitcoin. for china, i see that they have plan to ban bitcoin but i am not so sure because we know china have big populations and china is open minded with new technology so i think that china will make a law or rule about crypto currency development so people can still use bitcoin and other crypto currency.
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September 23, 2017, 03:31:13 AM
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There are many reasons exist Bitcoin is illegal in asia country.I think Bitcoin breaks their law of goverment issue and its effect their financial platform but i don't know clearly just i express my idea.

There are couple of reason why generally any country may not support bitcoin in future -

If bitcoin is a currency it has to come under Govt purview as currency cannot be de-regulated.
Bitcoin can be misused and no govt will allow such things because they already have many other things to work on.
Also if there needs to be virtual currency govt may like to bring their own currency which people should use it.

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September 23, 2017, 06:38:09 PM
 #79

I have read an article, In Japan, more than 260 000 shops accept the payment of BTC from this April Grin

Probably another fake news from the Coin Telegraph guys. Right now there are only around 100 shops which accept Bitcoin in Japan. Before asking the ordinary shops to accept the crypto-currency, we need to resolve the major issues, such as the high transaction fees and the delay in confirmation.

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September 23, 2017, 06:47:55 PM
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It is true that bitcoin currency is illegal in many asian nations like bangladesh and Kyrgyzstan. The economy of this countries are very low and also it may be due to religion or any government regulations.
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September 23, 2017, 09:38:45 PM
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It is true that bitcoin currency is illegal in many asian nations like bangladesh and Kyrgyzstan. The economy of this countries are very low and also it may be due to religion or any government regulations.

Curiously enough, notice that all the locales bitcoin is actually banned in are Muslim majority. I have always wondered, since I discovered this, if religion was the catalyst for banning in these particular places. to be fair, these place sall have rally serious capital controls and treat their fiats pretty much the same way. but it was a rare government, at least until of late, that actually had concrete regulation on the books concerning bitcoin. much less laws prohibiting its use.

a serious question to someone who can answer it, and trolls stay away please, but is bitcoin compliant with the financial aspects of Sharia law? given the lack of price basis, how this is so much a "gamble", I could see if this wasnt an ok asset.

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September 24, 2017, 01:50:11 AM
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bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

I think one of the things that causes bitcoin to be illegal is because of the fears felt by the government in the country to bitcoin, they still consider bitcoin as a threat that can damage the stability of their policies, especially in the monetary field. This is what I think is why they still have not received bitcoin.

But now in Asia there are some countries are starting to receive bitcoin, like Japan, South Korea, this is a good thing for bitcoin. I'm sure people are starting to realize the possibility of bitcoin in the future so little by little they start to accept it.
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September 24, 2017, 08:25:43 AM
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although maybe there is any country in asia giving state that bitcoin is illegal, i think it is not stopping bitcoin to spread in other country. i think that country is not learn anything about bitcoin so they can give negative oppinion about something new especially we are live in digital era which almost everything is using new technology. but i am sure that if they learn about blockchain technology and they realize that will bring something new for them, they will adopt bitcoin and make bitcoin legal in for their country.
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September 24, 2017, 06:11:45 PM
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   i live in asia.  i know bitcoin illegal in asia ... because the countries which ban bitcoin usually have rigid central government control, like Thailand.

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September 24, 2017, 07:13:12 PM
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bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks
Legality by Asian countries:
 +China: Restricted -  Exchanging bitcoins by people is lawful in China.
 +Hong Kong: Yes -  In any case, the power will be firmly viewing the utilisation of bitcoins mainly and its improvement abroad.
 +Indonesia: Restricted - All risks regarding ownership or use of Bitcoin are borne by the owner or user of Bitcoin and other virtual currencies.
 +India:  Restricted - India presumes that Bitcoins can be utilised for hawala exchanges and subsidising terror operations.
 +Israel: Yes - The Israel Bar Association considers the virtual money a fitting type of installment for lawyers.
 +Japan: Yes - You know! sure  Wink
 +Kyrgyzstan: No - According to national law, the use of bitcoin and similar currencies is illegal.
 +Malaysia: Unrecognised -  The national bank won’t direct Bitcoin operations right now, and clients ought to mindful of the dangers connected with bitcoin use.
 +Philippines: Yes -   Bangko Sentral ng Pilipinas (BSP) will be monitoring the possibility of Bitcoin usage in money laundering and other illegal purposes.
 +Russia: No -  In February 2014, Russia’s Prosecutor General’s Office guaranteed that bitcoin is a cash substitute and “can’t be utilised by people or lawful elements.” In September 2014, Deputy Finance Minister Aleksey Moiseev reported that a law will be gone by Spring 2015.
 +Singapore: Yes -  Organisations that have an arrangement with bitcoin money trades will be saddled in light of their offers of bitcoins.
 +South Korea: Yes - There are no regulations in South Korea regulating the utilisation of bitcoin at the moment. On December 12, 2013, the president of the Bank of Korea recommended at a press conference that bitcoin be regulated in the future.
 +Taiwan: No - Alongside China, they have discharged a joint articulation against the utilisation of bitcoin. Truth be told, controllers have even went as far as to piece endeavors of establishment of Robocoin ATM. While bitcoin itself is not illicit, endorsements for bitcoin ATMs have been disallowed.
 +Thailand: No - A Bitcoin startup denied a business permit which was supposedly informed that purchasing and offering bitcoins, utilising bitcoins to purchase or offer merchandise and administrations, and moving bitcoins all through Thailand were all presently unlawful.
 +Vietnam: Restricted - Being one of the rare countries to ban bitcoin outright, the use of bitcoin in Vietnam is restricted. Despite this, there are still some small businesses that accept bitcoin.
 +Turkey: Yes - Bitcoin is not regulated as it is not considered to be electronic money according to the law.

Good piece of knowledge Crosshair...But like to add few points.
+Bangladesh also restricted the use of bitcoin, It is totally illegal to use there and if caught using it as transaction method, a heavy penalty is imposed and can also put you behind the bars.
+India haven't restricted the use of BITCOIN as such, till now no clear stand is taken by Indian govt. So no punishment or penalty can be imposed on their users. Infact, India have some Legal crypto-currency exchanges like Zebpay, Unocoin, Koinex etc.


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suvo05
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September 28, 2017, 04:50:25 AM
 #86

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

I don't know what country you are talking about! If you talking about China(Facebook, twitter, youtube are banned there)- then bitcoin is not totally ban there . ICOs are ban and some exchange sites without license are banned there. And other country is North Korea Though every thing is banned there (even singing).
Except this two country I don't think there is any issue of legalisation of bitcoin else where in asia. 

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September 28, 2017, 07:20:46 PM
 #87

Agreed that, bitcoin is not yet legal in most of the asian countries but it is incorrect to say that bitcoin is illegal in asia. Many asian countries are leading the bitcoin market if you compare it with the other countries.


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September 29, 2017, 06:06:06 PM
 #88

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

China has issued a few notices with respect to the utilisation of Bitcoin. These announcements have had a huge effect considering China is one of the biggest Bitcoin showcases on the planet. There are no official rules as of now. It appears that China would like bitcoin to stay as an “afterthought” sort of thing. In an announcement on the national bank’s site the People’s Bank of China stated that monetary establishments and installment organisations can’t give estimations, purchase and offer bitcoin, or protect Bitcoin-connected items. On the 6th of March 2014, Bangko Sentral ng Pilipinas (BSP) issued a statement on risks associated with bitcoin trading and utilisation. Bitcoin exchanges are not regulated by BSP at present times. BSP will be monitoring the possibility of Bitcoin usage in money laundering and other illegal purposes.
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September 30, 2017, 08:40:33 AM
 #89

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

The Bank of China, in cooperation with some Chinese legal institutions, announced the prevention of investment in ICO. With the rapid spread of the news, the Market Cap and the price of the feedstock were so heavily affected that the value of the form fell to $ 12 billion at all levels. As of that date, the price of the protein has dropped to $ 4376, but the decline has not been catastrophic, as some experts have predicted. While some waited for the upside, the latter continued to decline.

After this a group of Chinese platforms giant close to the arrest of the service of trading on its platform, calling on users to withdraw their currency before the suspension of service.

Now very good news for Bitcoin and cryptocurrencies in China.


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October 01, 2017, 01:04:56 PM
 #90

My opinion is that the ban of bitcoin is not related to economic processes. This is likely a political decision. The authorities are afraid of losing control over the citizens. Always the more money the more difficult to manage. Thus, we only see the beginning of the process of the ban of bitcoins in the world. The totalitarian regimes will try to do it first. Then the turn comes to democratic countries.

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October 01, 2017, 03:02:31 PM
 #91

Based on my own underatanding bitcoin can be consider as illegal if it is banned in some countries on of this is russia but as time goes by they adopted it.

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October 05, 2017, 09:02:52 AM
 #92

Because asia countries have different rules about money so that if this rules good with bitcoin it will be legal otherwise willnot


you can find some asia countries allow it and other not

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October 05, 2017, 10:12:19 AM
 #93

They're going through regulation, but it's not prohibited or illegal yet i guess  Angry
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October 05, 2017, 10:45:23 AM
 #94

Based on my own underatanding bitcoin can be consider as illegal if it is banned in some countries on of this is russia but as time goes by they adopted it.
Russia is not Asia. But they have one thing in common. This lack of a developed democracy. The less democracy, the more bans. Bitcoin helps people achieve financial independence. This is not like authoritarian rulers, and therefore they are fighting against bitcoin.

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October 06, 2017, 06:26:14 AM
 #95

~ due to religion or any government regulations.

I don’t think religion has something to do with it and I don’t think it is proper to talk about it in this community. So much propaganda has happened for those religion related issues in the real world let’s not bring it out here.

Asia is not banning bitcoin but regulating. It is not also good generalizing the issue because I’m obviously from Asia and I can assure anyone that in my country bitcoin is not banned or even illegal. Yet it is not Legal as well, but we have the freedom the facility and the means to exchange our bitcoin through wallet provider that is local in our country.

Sometimes regulation of bitcoin is needed for abuser to be afraid.

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October 06, 2017, 08:01:20 AM
 #96

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

not only asia in some country's it is illegal. most of the politicians, business mans and others they trying to change money in the wrong way. they taking money from normal people and skipping tax saving for their next generations. they not try to save and help to their country's. in many country's most of the people changing their black money in to bit coins. because it is illegal business. they didn't say any accounts to the government and not to pay tax for government.
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October 06, 2017, 07:42:05 PM
 #97

1) it can’t track and

2) many hackers and bad people use it

3) no ID needed

4) many scammers use bitcoin
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October 07, 2017, 08:17:24 AM
 #98

The point is that the governments in Asia hasn't yet fully acknowledged the existence of bitcoin and hasn't really been able good respond to all people who use bitcoin. There are still many concerns that will be generated from the using of bitcoin that could harm the country, given the nature of anonymous and very private bitcoin transactions, of course.. this is very worrisome will happens many crimes / criminalized by peoples. In addition, the existence of bitcoin is still considered to harm the local currency / ordinary currency, which can damage the financial system. Indeed bitcoin is not made for illegal purposes.. well but the fact is bitcoin still vulnerable to be said illegal.

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October 07, 2017, 09:37:55 AM
 #99

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

The reason is the same with the other non Asian countries that ban bitcoin is because bitcoin is decentralize in which the government can't track or trace the transactions and afraid that bitcoin can be use by bad elements like money laundering that may ruin the country. Maybe they have other reasons in which a self interest but this is the common reason of all government. 

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October 07, 2017, 03:55:15 PM
 #100

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

The reason is the same with the other non Asian countries that ban bitcoin is because bitcoin is decentralize in which the government can't track or trace the transactions and afraid that bitcoin can be use by bad elements like money laundering that may ruin the country. Maybe they have other reasons in which a self interest but this is the common reason of all government. 
Yes, you're right, Almost Asia countries are developing countries so I think they are incapable of controlling Bitcoin transaction to avoid Bitcoin taking advantage of by crimes to commit guilty. Beside, in almost Asia countries, Bitcoin is not legalized so everyone don't have to pay tax for Bitcoin income so a lot of litigation happened but the result still the same, people in these countries still don't have to pay tax for Bitcoin income because it's not legalized in here.

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October 07, 2017, 06:39:41 PM
 #101

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

The reason is the same with the other non Asian countries that ban bitcoin is because bitcoin is decentralize in which the government can't track or trace the transactions and afraid that bitcoin can be use by bad elements like money laundering that may ruin the country. Maybe they have other reasons in which a self interest but this is the common reason of all government. 
Yes, you're right, Almost Asia countries are developing countries so I think they are incapable of controlling Bitcoin transaction to avoid Bitcoin taking advantage of by crimes to commit guilty. Beside, in almost Asia countries, Bitcoin is not legalized so everyone don't have to pay tax for Bitcoin income so a lot of litigation happened but the result still the same, people in these countries still don't have to pay tax for Bitcoin income because it's not legalized in here.

Asian have high-value residents by not paying taxes for their country therefore the government is afraid bitcoin will be a big stunt for their country.

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October 08, 2017, 02:45:00 AM
 #102

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks
In Japan, the Financial Services Agency officially recognizes exchanges that gained specific standards.
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October 08, 2017, 01:52:04 PM
 #103

In our country, it is not illegal per se because illegal, to us, is defined as a crime that is punishable by the Revised Penal Code. But, it is something that is not supported by our central bank which means that any transactions that use Bitcoin as a form of payment will not shield the parties concerned should there be any illegalities that come with it. Also, because it is not regulated, there may be a lot of crimes that come with it without corresponding protection guaranteed by the government.

It is, in all sense, a case to case basis.   

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October 08, 2017, 08:27:46 PM
 #104

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

Firstly, please clear your concept. Bitcoin is not illegal in Asia. The legal status is still not clear for the majority of the countries. People are still thinking that China has banned bitcoin but NO, China didn't ban bitcoin. It has just banned the ICO route to raise funds. They are going to start bitcoin exchanges after proper audit and licenses. Probably they will be asked to maintain a proper KYC documents before they are licensed. SO the question is itself wrong.

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October 08, 2017, 11:57:27 PM
 #105

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

Firstly, please clear your concept. Bitcoin is not illegal in Asia. The legal status is still not clear for the majority of the countries. People are still thinking that China has banned bitcoin but NO, China didn't ban bitcoin. It has just banned the ICO route to raise funds. They are going to start bitcoin exchanges after proper audit and licenses. Probably they will be asked to maintain a proper KYC documents before they are licensed. SO the question is itself wrong.
People here are mostly title only readers, where if the title includes the word ban or banned, that's all they see and look at. It doesn't come up in their mind that it can be a click bait article, or whatever other nonsense.

It was clear from the start that China has only temporarily halted the trading activities from the exchanges operating there, but as I said before, people look at the title only, and directly believe Bitcoin is banned in its entirety.

Chinese exchanges will return, likely before the end of this year. The difference is that they will be subject to far more severe regulations that will turn out to heavily impact the overall privacy of their customers, unfortunately.

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October 09, 2017, 12:21:00 AM
 #106

because of federal reserve... federal reserve are allowed to print fiat currency whole world centralized currency... they dont want decentralized currency... all they want is to control us...
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October 09, 2017, 12:34:25 AM
 #107

HAH ?
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October 09, 2017, 12:46:04 AM
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Can you please quote the laws where it says that bitcoin is illegal?

I heard that bitcoin exchanges are illegal in some asia countries, but the possession of bitcoin itself?

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October 09, 2017, 07:23:45 AM
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I think because of its anonymous nature. the peer to peer system applied makes it difficult for the apparatus to trace in case of adverse events. some Asian countries are directly prohibiting the use of bitcoin, but some are just give warning to be careful in using bitcoin.
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October 09, 2017, 09:19:46 PM
 #110

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

The reason is the same with the other non Asian countries that ban bitcoin is because bitcoin is decentralize in which the government can't track or trace the transactions and afraid that bitcoin can be use by bad elements like money laundering that may ruin the country. Maybe they have other reasons in which a self interest but this is the common reason of all government. 

I agree with you Mr. MiF. In Asian country's government fear Bitcoin. They think that if they accept Bitcoin so money laundering will be increased. Because Bitcoin is a decentralize token. The government can't trace the transaction. That's why they didn't accept Bitcoin yet.

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October 10, 2017, 12:15:22 AM
 #111

There Are Also Reasons Why Bitcoin Is Illegal in some asia country,

In Philippines, There are Lot of Bitcoiners, Maybe millions,
because bitcoin is Legal in That Country Which is A part of Asia.

And, in my own opinion, Bitcoin is Illegal to other asian country because Bitcoin is used for
Trading in Black market in deepweb.
There They can by Drugs and Anything else That could be Bought by Bitcoin.
Through Internet, They Can Hide Their Identity as Lawbreakers.

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October 10, 2017, 02:24:23 AM
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As far as I can tell, bitcoin is only illegal in 2 countries in Asia? That doesn't really make it illegal in Asia..

In fact, it is way more legal.
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October 10, 2017, 09:01:39 AM
 #113

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks
[/quote/]
At first, your question makes no sense. Bitcoin is not illegal in most of the Asian countries. Even China has not banned it completely and it is legal in India and other south Asian countries. It is also legal in Japan, South Korea. I can't say for sure about central Asia and middle east but as far as I know, it is legal in India, Japan, SouthKorea, Singapore, Malaysia, Thailand, and some other Asian countries.
And word illegal itself has some meaning. If some asset is declared Illegal by state then even holding it will be a crime. And according to my knowledge, I haven't heard any person being punished for holding Bitcoin in Asia.

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October 10, 2017, 02:46:07 PM
 #114

huh? this is not true. Bitcoin is legal in asia, the question is new to me. but it's very easy to answer you question. i go for a vacation in some part of asia and i withdraw fiat money using Bitcoin. it's all simple and smooth no hassle at all

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October 10, 2017, 04:09:36 PM
 #115

Bitcoin illegal in Asia because of Asia's bank system is not dynamic. They scare Bitcoin. They think that, if they are legalized Bitcoin, so money laundering will be increased. Because Bitcoin is the decentralized currency. The government can not trace any transaction.

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October 10, 2017, 05:51:41 PM
 #116

It is wrong to say that bitcoins are illegal in Asia, as not even a single country has banned it. Agreed that bitcoins are not yet regularized by most of the countries but they did not totally rejected the concept of cryptocurrency. Many countries are working to find a best solution to regulate and introduce related law. In future, we may see bitcoins as a legal currency in many countries.
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October 11, 2017, 05:20:03 AM
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It is wrong to say that bitcoins are illegal in Asia, as not even a single country has banned it. Agreed that bitcoins are not yet regularized by most of the countries but they did not totally rejected the concept of cryptocurrency. Many countries are working to find a best solution to regulate and introduce related law. In future, we may see bitcoins as a legal currency in many countries.

I disagree. There are countries in Asia that prohibit the usage of bitcoin like Taiwan, Thailand, and Vietnam. Almost all of them prohibit the use of anything that is related to cryptocurrencies since their central banks does sees it as a threat to their economy and country. Another thing, most of the countries in Asia like the Philippines, Singapore, South Korea, Japan, etc. prohibit the usage of it and also provide certain retailers that accept it as a payment. It all comes down to the perspective of each country with regards to the validity and maximization of bitcoins to the public.

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October 11, 2017, 10:12:58 AM
 #118

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

In my eyes it is because of the N.Kora issue and ppl are affriad holding
that much national money so they go more and more into crypto what
isnt to contol for the Governments so they shuted Bitcoin down more or less...
I think they will also swim back pretty soon with their decition and go ahead...

One reasson is also in my eyes the most powerful people on this planet have their
fingers into it just look on JP Morgen CEO said that Bitcoin is a fraud and he would
fire everyone of his workers who acts with it while he have a Blockchain
Trading Group for over 2 year already xD
All this is full of **** to be honest

They pump and dump Bitcoin this way and make Billions of ppls money just look
back when Bitcoin Bull runed on 5015$ on Coinbase... After that happend one
Horror news couldnt catch the other one until he was 2880$ again... This should
tell you a lot about how all this stuff works Wink

cheers

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October 11, 2017, 11:50:32 PM
 #119

Not only asia all countries can’t control bitcoin so that the will try to make it illegal Because government want to Know any one pay for who and must pay  fee to government system (Bank )
I do not agree with this because many Asian countries are investing and trading in bitcoin. The best example is India where the government has legalized bitcoin and the people are making handsome money from bitcoin. Not only in India but in many other Asian countries also use bitcoin. They are investing, trading and using bitcoin for purchasing commodities all over the world.
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October 12, 2017, 08:02:37 AM
 #120

I think only some countries in asia are stating that bitcoin is illegal.
I myself come from asia, and in my country, bitcoin is invalid, but that does not mean illegal because bitcoin as a commodity like gold.
In my opinion, governments in Asia are still considering legalization, because anonymous bitcoins are difficult to trace, many people use bitcoin for money laundering and funding for terrorists.

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October 12, 2017, 09:21:50 AM
 #121

Not only asia all countries can’t control bitcoin so that the will try to make it illegal Because government want to Know any one pay for who and must pay  fee to government system (Bank )
I do not agree with this because many Asian countries are investing and trading in bitcoin. The best example is India where the government has legalized bitcoin and the people are making handsome money from bitcoin. Not only in India but in many other Asian countries also use bitcoin. They are investing, trading and using bitcoin for purchasing commodities all over the world.

A lot of countries in Asia use bitcoin for their online transaction and Philippines is one of them we trade bitcoin and we invest on it maybe some part of Asia but not all countries in Asia. Countries like Philippines should adopt this system for a better future.

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October 12, 2017, 10:05:48 AM
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Not all asian countries consider bitcoin as illegal. In my country bitcoin is widely known and they do not consider it as illegal, unless of course if it involves illegal activities such as gambling. So, I don't see the point why they consider it as illegal.

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October 12, 2017, 11:00:26 AM
 #123

Not all asian countries consider bitcoin as illegal. In my country bitcoin is widely known and they do not consider it as illegal, unless of course if it involves illegal activities such as gambling. So, I don't see the point why they consider it as illegal.

Where are you from if is okey to ask? We talk mainly about China here i tought

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October 12, 2017, 11:45:47 AM
 #124

Not only asia all countries can’t control bitcoin so that the will try to make it illegal Because government want to Know any one pay for who and must pay  fee to government system (Bank )
I do not agree with this because many Asian countries are investing and trading in bitcoin. The best example is India where the government has legalized bitcoin and the people are making handsome money from bitcoin. Not only in India but in many other Asian countries also use bitcoin. They are investing, trading and using bitcoin for purchasing commodities all over the world.

yes not all countries in Asia declare illegal bitcoin because some countries in asia have successfully adopted bitcoin and announced their legalization even in my country where the government doesn't legalize bitcoin but they don't prohibit the use of bitcoin for positive purpose either for payment transaction or for business such as trading and investment.

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October 12, 2017, 01:14:43 PM
 #125

The only country I know that has declared Bitcoin illegal is Nepal, but this is only a temporary thing.

China didn't even ban bitcoin, you can still mine and use them just as long as it doesn't leave the country.
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October 12, 2017, 06:32:29 PM
 #126

The only country I know that has declared Bitcoin illegal is Nepal, but this is only a temporary thing.

China didn't even ban bitcoin, you can still mine and use them just as long as it doesn't leave the country.

Exactly same what i said 4 sites ago

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October 13, 2017, 06:15:40 AM
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I just noticed that those countries who prohibits the use of bitcoin and made it illegal are mostly poor countries. While the other asian countries just like China is just regulating the ICO. People sometimes misunderstood regulated as illegal or banned.

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October 13, 2017, 11:05:41 AM
 #128

i just cant understand why some country in asia not accept bit coin ?   Huh
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October 14, 2017, 01:05:05 PM
 #129

Your scope is huge and Asia had over 50 notable countries, certainly not every single one of them publicly issued ban on cryptocurrencies.

Some of main characteristics of countries that banned crypto is they had huge GDPs and lots of people, once the idea of BTC spread among their people it would be difficult to control as it make fishy business activities less traceable and promotes anonymity as well. In my country concerns about ICOs has raise and authorities are working proposals to regulate our people from using them publicly.
 

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October 14, 2017, 02:21:16 PM
 #130

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks

Bitcoin is being banned in some countries in Asia due to its decentralized nature, making it impossible for its transactions to tracked down by anyone. Due to its nature, people are abusing it under the dark web for illegal transactions involving drugs, crimes, and even hitmans. Despite being banned by some countries around the world, most countries accept the transactions of it due to the opportunities it provide to the public in terms of having the potential of earning money online.
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October 14, 2017, 02:37:23 PM
 #131

Not in whole Asia. There are few countries that have a negative view toward BTC and crypto market. Bitcoin is illegal and banned in Bangladesh and Thailand. Where as in China, there are some negative news about ICO's but still they haven't banned it. Other countries like India,Pakistan have a status 'Not Illegal hence legal'.
So thus statement is totally false.


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October 15, 2017, 03:32:46 AM
 #132

Not in whole Asia. There are few countries that have a negative view toward BTC and crypto market. Bitcoin is illegal and banned in Bangladesh and Thailand. Where as in China, there are some negative news about ICO's but still they haven't banned it. Other countries like India,Pakistan have a status 'Not Illegal hence legal'.
So thus statement is totally false.

that I know, Its not every countries in asia. Probably after china have banned crypto currency, its like the whole asia was also banning it. Anyway, even 50% countries in asia was banning crypto currency, especially bitcoin, it will keep rising its price without them. ANd if that truly happening, Asia will be more fall behind from other continent technology.
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October 15, 2017, 05:41:27 AM
 #133

i think the other country in asia is not yet giving any statement about bitcoin is illegal or legal but one thing that i know is many people from asia still using bitcoin and they are trading bitcoin with fiat and altcoin. and if the each of government finally banning bitcoin for their each country, i think people will still using bitcoin and they will find another ways that could give them access to use bitcoin. i am sure people is not to worried about the news of banning bitcoin because bitcoin will be reach new level price without them so they can trying to use bitcoin.