why bitcoin illegal in asia?

[Stedsm]

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

Who said that?
Nobody can prove government's stance on the legality or illegality of Bitcoins and many countries are accepting it now as well as others are in the process of either legalizing it or study the whole concept of Bitcoins and will decide in the future, but nowhere is it said by any country in Asia yet that Bitcoin is illegal there. Even China, after stopping trading and mining activities in the country, haven't given any such statement yet. Can you please specify the name of the country that said Bitcoin is illegal there?

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[ahasan909]

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

Not Asia you have to say Asian some country, 
cause you know bitcoin is just an online currency,  and it can't be used for payments.
Also, bitcoin depends on the market, If this market lost then people can have a huge loss, maybe that's why some country illegal bitcoin.

[corroze]

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

I think not all Asian countries assume that bitcoin is illegal, if we look at the role of japan and china that have a big role on bitcoin because it has many users doing business in bitcoin, is the country illegal bitcoin?
and the legality of bitcoin is determined by the policies of the respective state governments.

[noory]

China may ban Bitcoin trading, but the market doesn't seem to care

[GAUMZEE]

Hello everyone,

I am new to this forum this is my first post, I have just gone a series of wikipedia pages on-line and I see that many countries in Asia have different policies regarding Bitcoins

 https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

You can click on the above given link and check the status as when they get updated. To be more specific for my country which is India.

This is what I found on the Internet

The article given below is from Business Today.in

Even as economies like Japan and Russia move to legalize the use of Bitcoins, India, despite being at the cusp of a digital revolution is yet to officially recognize the cryptocurrency.
 
India's central bank, the Reserve bank of India or the RBI, which regulates Indian rupee, had earlier cautioned users, holders and traders of Virtual currencies (VCs), including Bitcoins.
 
"The creation, trading or usage of VCs including Bitcoins, as a medium for payment are not authorised by any central bank or monetary authority. No regulatory approvals, registration or authorisation is stated to have been obtained by the entities concerned for carrying on such activities," the central bank had said.
 
In March, RBI Deputy Governor R Gandhi warned against crypto-currencies such as Bitcoin. "They pose potential financial, legal, customer protection and security-related risks," Gandhi said. "Payments by such currencies are on a peer-to- peer basis and there is no established framework for recourse to customer problems, disputes, etc. Legal status is definitely not there," he added.
 
However, the central bank hasn't unequivocally banned Bitcoins in the country.

So in essence the govt& RBI have not termed is illegal but on the other hand has not recognized it as well.

Hope this helps.
 

[ridhonofri23]

Maybe a lot of people in asia who plays first and perhaps bitcoin bitcoin made by Asians.
 yaaa maybe Yes and maybe no, that's how my thinking

[reliable]

Maybe a lot of people in asia who plays first and perhaps bitcoin bitcoin made by Asians.
 yaaa maybe Yes and maybe no, that's how my thinking

I do not think it would be developed in Asia. Probably something in Japan is possible and also Japan has legalized the cypto currency. though it is not sure as such but possibility that in China or Japan this technology might have being developed by some institution or by group of people.
 

[Bonakid]

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

Definitely not all in asians bitcoin are illegal.There is no reason for them why bitcoin cannot be legalized for me its legal and my transactions here are safe and secured.I am glad that like japan the legalized bitcion in their country implementing cryptocurrency to them.

[baundul]

Asia is a poor country and people are more resident than a continent. There are many countries behind the internet and technology are far behind. As a result, the governor for ignorance and does not think that Bitcoin is good, or his business is bad. Many see the crypto-currency as a bad eye. For the lack of education, lack of understanding of ignorance etc. All these countries are illegal. See more http://bitcoinist.com/bitcoin-still-illegal-six-countries/

[katinko]

Where OP get his information?
I do not heard that bitcoin was illegal in asia and i do not also heard that bitcoin is already legal in asia but all people have freedom to used and earn with bitcoin even government know this digital currency. But here in the Philippines central bank release some statement that they will support decentralized currency but our government still no comment about that.

[jasondublinkun]

I think earlier most countries' governors have no idea how or who to ban/manage this area. China comes to be the first and then it sets the example for other neighbors obviously.

It's easier to just shut it down.

[crzy]

China may ban Bitcoin trading, but the market doesn't seem to care

Definitely, look at the price of bitcoin now continues to soar higher and the only thing that comes from my mind is that asian countries and their governments wanted to control their people and trying to make their own coin. Cryptocurrency is our future technology.

[Nivir]

China may ban Bitcoin trading, but the market doesn't seem to care

Definitely, look at the price of bitcoin now continues to soar higher and the only thing that comes from my mind is that asian countries and their governments wanted to control their people and trying to make their own coin. Cryptocurrency is our future technology.

People notice Asian countries maybe because many of its countries like Korea, China and Japan are are very important factors when it comes to bitcoin price. China is only temporarily banning bitcoin and it will restore soon with some new rules and regulations. There are other countries that strictly prohibits bitcoin including mining like Venezuela but didn't have an impact on bitcoin market.

[Happy Miner]

If the government can not control bitcoin, then it prohibits it.

[jaocoincrypto18]

I have no idea,But I think it will not take much time for Bitcoin to be legal in Asia. Because most people in Asia continent are working on Bitcoin, though it is illegal but it seems to be interested in their work.

Not the whole Asia banning bitcoin but just some part of it. I think some Asian countries ban the bitcoin is because the common reason is the same with other continents that they afraid that Bitcoin might be use in illegal activities that may ruin the country's economy and securities. The good thing is some Asian nations did not declared bitcoin is illegal but not ban so the people of that certain country will surely enjoy the benefits of bitcoin with out tax.     

[Saveplus]

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

It takes a too long process before it became legal in asia.When we implement bitcoin there are some advantages and disadvantages that will do.Advantages it became more easier,comfortable,high technology when we implement bitcoin or a digital currency in our country our transactions must be known by ourselves only and no third party will be involved.the disadvantages are many people are not familiar in bitcoin now ,government must added tax on it if it became legal in asia.

[Zabrielle]

Im from asian country but so far bitcoin has no problem with the government. Its not illegal in my country at all. I heard its banned in china. But in my country bitcoin is booming. Infact this year i lot of peroson thay i know here in my country are doing bitcoin.

[btc-facebook]

Im from asian country but so far bitcoin has no problem with the government. Its not illegal in my country at all. I heard its banned in china. But in my country bitcoin is booming. Infact this year i lot of peroson thay i know here in my country are doing bitcoin.

Mostly Asian problem when use Bitcoin is corruption and terrorism. They are focusing the problems so they will do anything for preventing those criminal attempt
With Bitcoin they have a chance so their government think logically by made a policy to forbid Bitcoin usage

[kaizerblitz]

It doesn't seems bitcoin overall ban in asia. I think china first ban bitcoin in asia here in my country bitcoin is legal but you pay taxes and not use for illegal transaction.

[earl07]

i dont think btc is illegal in asia,
although some countries  dont allow it, lets just say 4 out of 5  asian countries allowing btc and the rest not ,so by this we can say that its not illegal in asia but only some part of asia.