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Author Topic: why bitcoin illegal in asia?  (Read 9726 times)
ardentvolcanoes
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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
 #26

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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