why bitcoin illegal in asia?

[fileo]

Actually some of the country prohibited bitcoin as the government didn't wants the presence of crypto inside their land. There are some valid reason such as the possible sudden collapse of the economy as bitcoin is anonymous. The fear of the government from the citizens to leave the job and focus on crypto without any relation with government.

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[ThePogi]

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

One can understand any Gov wanting to protect its fiat supply, hence wanting to regulate direct crypto-fiat exchanges where it's done directly with the exchange itself. That may not be an entirely bad thing overall, as it does lend some more acceptability to crypto, and make it easier for everyone to exchange directly back to fiat if necessary.

[Beldon]

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

Bitcoin is illegal in some Asian countries because the governments of these countries have not fully believed in Bitcoin and instead the Government hates Bitcoin can thrive in their country. There are so many factors that cause illegal Bitcoin in Asian countries and all the reasons we should be able to accept it if we live in that country.

[pheonyx]

Its not true some country are illegal not in whole asia i am from india here is allow to purchase.

Yeah, I think he's just make it general without doing research. Here in our country bitcoin and eth are most valued crypto and many crypto supporters are enjoying with this.

[dark1234]

Its not true some country are illegal not in whole asia i am from india here is allow to purchase.

Yeah, I think he's just make it general without doing research. Here in our country bitcoin and eth are most valued crypto and many crypto supporters are enjoying with this.

I am from Indonesia and here we are not prohibited from doing all transactions bitcoin and crypto only in our country the government does not meligalkan or menilegalkan they are neutral and this is applied in many areas of Asia in my opinion

[Soots]

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

Actually mate, as I'm one living here in asian country I didn't heard that bitcoin is illegal throughout the asia. In fact our government supports crypto currency and some of our business establishments accepting bitcoin as a mode of payments. Maybe, you're just misinformed regarding on that because as far as I know most users are from asian countries which I think most of them helps to increase the popularity of crypto currencies throughout the whole world.

[reality18]

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

No much reason have been put across regarding the ban of ICOs and exchange sites in some Asian countries like China and India. The reason mostly given is that ICOs are used to fund terrorism and involved in money laundering, hence the regulation to implement KYC and AML in most ICOs and exchange sites in other countries.

[Gauravsaini29]

First reason govt. Want to control everthing thats y they are not interested to leagal bitcoin bcoz they know if bitcoin legally implemented so they have no control on currency or bitcoin defeted the local currency.

[Lang09]

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.

[changcloy]

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

I live here in Asia and we can freely used bitcoin , many people here support crypto currencies and most of here are thankful for the benefits that bitcoin given to us. Where in Asia specifically do you mean mate?  maybe you heard it wrong....

[chara78]

only some countries in Asia consider Bitcoin illegal, I think the reason why Bitcoin is considered illegal is because Bitcoin is a virtual money, it is easy for Bitcoin to be misused as an illegal transaction, which is very detrimental to society and will disrupt the financial stability of the country.

[huydai]

In Asian countries the government is afraid of losing control of the currency with the concept of bitcoin not yet widely understood to have multiple phishing scams.

[El Il-mythos]

My friend I think it's a big mistake of saying that bitcoin is ban in Asia. Do you mean the whole Asia banned bitcoin? If this what you mean you are wrong because here in our country bitcoin is not banned. You should clarify where in Asia.
China had previously been banned from bitcoin but after a short period of time they had overturned it.

[muneeb.zain]

I Think that. Bitcoin is prohibited in many countries of the world because there are no specific identity of any person who has be share or transferring the money as well as there have no taxation on it.

[thecoder2017]

I think no its not it depends on what country you because there are already news that some countries that legalizing bitcoin i think because they know that it will help its people and also their economy.

[DonPeter]

sri lanka also not giving permission for bitcoin

[NavishaKhairin]

because they perceive that the currency of bitcoin cryptocurrency is a financial fraud scheme.

[Temujhin]

I think only some countries are illegal in Asia, because one of the largest banks in Asia considers that the currency of cryptocurrency bitcoin is a scheme of financial fraud. it may be legal as in the country of china, japan and south korea which can already exchange bitcoin with goods or money

[auliasilvana]

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

Bitcoin is illegal in some Asian countries because the country's government does not want its citizens to use Bitcoin as an investment asset or transaction tool. Bitcoin can be used for illegal things like money laundering and others. So the government does not want if its citizens do things that make the good name of the country tarnished.

[xyxyrizcah]

I'm from Asia, in my country bitcoin is legal so I dont hear this inform about bitcoin is illegal