why bitcoin illegal in asia?

[Sandeep24]

I think, it is not illegal in whole Asia because some countries are already supporting bitcoin. It is digital currency that's way some countries do not want to adope digital currency due to cyber fraud etc. in digital world. But great revolution in digital world various countries are making new law and accepting digital currency. Hope bitcoin will be accepted by whole world.

[guffie]

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 hates Bitcoin very much. Moreover, Bitcoin can be used for illegal things like money laundering and so forth. That's one of the things that make Bitcoin so illegal in some Asian countries.

[amrenamren]

A counter-question is brewing: in which country is the ban on bitcoins? I live in Kazakhstan, there are no problems with him, and in neighboring states too. I did not hear that. Nadeusb and I will not hear this kind of news. On the contrary, one wants to hear in the foreseeable future about the legalization of crypto currency and regulation by states!

[genuin]

are not they themselves the ones making the illegal bitcoin? if pakistan approves the existence of bitcoin then indirectly bitcoin is a legal investment. I think the rule is very important and necessary but not too authoritarian because it will trouble the citizens themselves

[mamarried]

Maybe they think Bitcoin can kill the economy of their country, so the reason is simple i think, whey you afraid you throw it away

[NyLymZbl]

Definitely, not all Asian countries forbid bitcoin for there are those which allows such to enter the Asian finance world and even permits banks and other remittance networks to exchange from BTC coins to actual Asian currencies. Therefore, bitcoin is not totally illegal in Asia, there are merely several countries who disallow it.

[staceyrita]

He's also some Asian countries that are bituminizing. Like Kyrgyzstan, in 2014 the national bank of the Kirgiztan republic has made it clear that the use of virtual currency is in violation of government regulations. In Bangladesh it is also clear that whoever is caught using this virtual currency will be imprisoned under government regulations under the anti money laundering law.

[Cherylstar86]

Exactly, 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.

[billknight]

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

Currently, Asia is very concerned about Bitcoin and cryptocurrency. In the year 2018, many countries such as Thailand, Korea, and Japan are accepting bitcoin

[jaocoincrypto18]

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

Asia is not a country but it is a continent so therefore you should name a country that belong to Asia to determine if that country is really declared Bitcoin currency is illegal by the government. As of now only few Asian countries that are against Bitcoin existence that majorities of these Asian countries are supporting Bitcoin like Japan.

[West0813]

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

I don't know what are the reasons of other asian countries why they make bitcoin illigal. Maybe they just don't want their people to take the risk in crypto world. And lose their money in it.

[Bharat24]

For revenue point of view every Asia government should re consider his decision of go for Bitcoin.

[LordDisick]

I live in Asia but bitcoin is not really illegal here. Many people in my country is into bitcoin because they can see a good future with bitcoin. But others are using bitcoin illegally like scamming other people to invest but will just steal their money.

[The best one]

I think, why did some countries prohibit in Asia from using bitcoin, because bitcoin is electronic data. So, it is not considered a currency and it can not be used for payment, and it is not considered by a valid payment instrument like money. Without the value of the data varies according to market needs. Bitcoin value can change very quickly and bitcoin can be something that hasn’t value if nobody wants to use bitcoin.

[ruthbabe]

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

It's true that there few countries in the whole of Asia that the use of Bitcoin is illegal, I think it's because governments in these countries don't regard it as money and/or legal tender, and also, by using it will violate their Anti-Money Laundering Law.

[barabarian1]

bitcoin is still illegal in some countries in Asia because the government has not issued official rules on the use of crypto so crypto can not be used for financial transactions. the government is still reviewing and discussing crypto carefully because crypto is very vulnerable to crime, terrorist financing, drugs etc.

[Oliveir]

Asia is a huge continent you can't just say some because even this continent has a lot of countries with different leaders with different  management...

And the reason why we can't say some banned Bitcoin and some are open because they have their own rules and own laws... So when they say it's banned it's banned...

[rachel999]

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 add taxes.

[The best one]

I think bitcoin  It is still not illegal in Asia. Because it still processes in legalization so bitcoin has not been allowed to be used as a transaction tool to buy goods or as currency.  But there are several countries where cyrptocurrencuy is including bittcoin is legal as in North Korea, Japan and more. But I hope bitcoin will be legal for the most countries in the near future.

[lokanot0]

Please give us a link post on those countries that illegalizes bitcoin. In my own knowledge i have not heard yet a country which have illegalize the use/transaction of bitcoin. Maybe what your referring to is, that, these countries have not yet legalize it, there the use of it is not regularize in that country. If there is no law prohibiting it in that certain country, bitcoin cannot be illegal.