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Author Topic: why bitcoin illegal in asia?  (Read 13074 times)
ajochems
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March 26, 2018, 05:37:29 PM
 #461

In Asia, Bangladesh is a small country, they had ban bitcoin to avoid the investment in bitcoin and cryptocurrency. The income earned by the people will be low,if they inverse in bitcoin.The people will skip to inverse in their government asset. Which will impact the small country like Bangladesh. This is the reason for ban in Bangladesh.
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March 28, 2018, 06:02:58 AM
 #462

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks
I have not heard about this before
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March 28, 2018, 01:17:05 PM
 #463

Nowadays bitcoin is not totally legal in Asea. I heard that there are many countries who recognised this cryptocurrency inside one country's boundaries. Then I assume that more Asea country will follow by accepting bitcoin inside their area of responsibility. Bitcoin gaining more power from one country to another
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March 28, 2018, 04:59:16 PM
 #464

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

I haven't heard of this. I am live in Philippines and bitcoin or any other cryptocurrency is not illegal here. In fact, we can even use bitcoin to pay some bills, buy some products and pay services. We can even use banks as an outlet to cash out our money. Maybe in some countries, bitcoin has been banned, but not Asia.

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March 28, 2018, 07:07:10 PM
 #465

The government of each country there has the numerous reasons to be afraid of legalizing BTC.
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March 28, 2018, 07:16:00 PM
 #466

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

I live in anAsian country and I have not come across my country announcing that bitcoin is illegal. We are almost near to accepting bitcoin.  I hear many news that the government is looking forward to launch it's own crypto currency. An another business personality has formed a team to discuss on launching it's own crypto curre
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March 29, 2018, 08:34:55 AM
 #467

bitcoin illegal some Asia country but why?can you give me some reason about this?? thanks
Bitcoin is illegal in some Asian countries because these countries have banned the use of Bitcoin, either using it as an investment asset or as a means of transaction. And because some countries also do not believe in the existence of Bitcoin, so the country does not want to legalize it.
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March 30, 2018, 03:57:51 AM
 #468

bitcoin illegal some Asia country but why?can you give me some reason about this?? thanks
Bitcoin is illegal in some Asian countries because these countries have banned the use of Bitcoin, either using it as an investment asset or as a means of transaction. And because some countries also do not believe in the existence of Bitcoin, so the country does not want to legalize it.

Actually buddy to be more specific only some part on the asia were banned due to illegal act that was done on those countries. Also their government think that the economy will affected since many people become part in the crypto currency community they will not go to work which they prefer to work at home by working in crypto currencies. Thus, we can't even control in what will be like by those people as they have their own perception in life as long as can support the financial stability for the needs of the family.
In some countries, it is not illegal in some ways, it is just not yet legal but they are eyeing it and was considering some other things before making it legal, it will just take a lot of time before doing it, but that does not mean that we are not allowed to do so.

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March 30, 2018, 04:11:43 AM
 #469


Bitcoin is illegal only in some part of Asia. Asia even owned the largest volume when it comes to crypto. Look at those largest top exchanges and they are nearly  all Asians.
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March 30, 2018, 05:35:39 AM
 #470

I just have read an article recently that in china bitcoin trading is prohibited because they oversees an internet financial risks that were circulated online and verified by a government source to Reuters. Because of this event the bitcoin user in china sell-off their bitcoins.
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March 30, 2018, 06:30:23 AM
 #471

I just have read an article recently that in china bitcoin trading is prohibited because they oversees an internet financial risks that were circulated online and verified by a government source to Reuters. Because of this event the bitcoin user in china sell-off their bitcoins.

The situation in China is understandable. The Chinese Yuan is one of the most manipulated currencies in the world and the emergence of Bitcoin was posing a major threat for the authorities. So it is no surprise that the Chinese government is trying to stop the usage of Bitcoin in that country.


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March 30, 2018, 10:33:22 AM
 #472

Yes, in my country it's illegal because. It can be used for illegal transaction, and othe crime activities.
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March 30, 2018, 02:06:36 PM
 #473

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




In the late last year China the country that known having strictest capital in the world
And the second nation that more populations blocked citizens from trading crypto banning,
Blocking and outlawing crypto currency.

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March 31, 2018, 07:57:56 PM
 #474

I think Contrary to what is believed, bitcoin is not illegal in Asia. but asian countries are afraid of bitcoin and other cyrptocurrencies because they have a conservative structure and that they are behind technology, unfortunatelly..

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April 02, 2018, 08:02:58 PM
 #475

I think it depends on the country, because in Asia there are many that allow the existence of bitcoin, because its value is not harmful. as in my country, his government is very supportive.
in asia that is not permitted existence of bitcoin ie only arab saudi, kyrgyz, and bangladesh. that's what I just found out.
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April 02, 2018, 10:54:33 PM
 #476

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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April 03, 2018, 01:06:14 PM
 #477

Bitcoin is illegal only in some part of Asia. Asia even owned the largest volume when it comes to crypto. Look at those largest top exchanges and they are nearly  all Asians.

Nearly all Asians? Who told you that? The users from the western nations constitute a bare majority of the crypto users as of now. The Asian users are somewhere around one-fourth to one-third of all the users. Even the trade volumes are skewed towards the western nations.

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April 03, 2018, 04:15:41 PM
 #478

Living and travelling across all the South-East Asia I have never heard if crypto being illegal. For fairness, I also never heard of it being legal either Smiley
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April 04, 2018, 10:08:40 AM
 #479

I live in Indonesia, and the government bans trading using Bitcoin. People still have to use Rupiah as a transaction tool.
but bitcoin is considered an asset like gold.

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April 05, 2018, 02:38:44 PM
 #480

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

I think governments around the world have different views and opinions on that matter, though
that may change over time just as we've seen happen with these past few months and years.
It just shows that persuasion takes time, bitcoin still has a lot to prove. One or three country
might begin to accept and some time may embrace bitcoins, that could be a potential catalyst
that would trigger other nations to understand the beauty and relevance of accepting and
working with bitcoins. I think Asia will the last remaining frontier for bitcoins and cryptocurrencies.
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