why bitcoin illegal in asia?

[yurekaa]

in Asian countries there are frequent acts of terrorism and many drug dealers so bitcoin is very susceptible to misuse for the financing of acts of terrorism and illegal drug transactions. therefore bitcoin is prohibited because it is very difficult to track users and transactions involving crypto currencies.

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[chadrs]

it is illegal in asia because bitcoin is use for money laundering to victimize people who want to go in easy money.

[vessing]

Whenever the government tries to ban what people like, it's something that goes to where officials can not reach the hands. This happened with the prohibition of gambling, during the fight against drugs and cyber piracy. And now a similar picture can be observed in China, whose government is trying to squeeze bitcoin.

[poktur]

Actually not many countries where bitcoin is prohibited by law, in other countries, bitcoin is freely available.

[Scott Evans]

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

As far as i know many asian goverments have approved Bitcoi as legal. Some have made some moves to allow people easier access to Crypto currencies.

[rosymadaan7]

There are many countries in asia where bitcoin is illegal because of the  lack of knowledge and people are corrupt. They didn't want to pay taxes on their income and in some countries there are fear of terrorism that's why government did not declare it legal

[Hughes_Ryan]

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

Any proofs of this statement? I am from Asia and I had never heard or read this until you post this. Maybe there are some places in the Asia where it is illegal but not in my country. Maybe reading this can help you. Click Here.

Agree with your comments. I have not heard any news about Asia being against cryptocurrency. In recent times, I heard about Thailand, the Philippines, Japan and Korea are accepting cryptocurrency

[Wayan_Pedjeng]

Whenever the government tries to ban what people like, it's something that goes to where officials can not reach the hands. This happened with the prohibition of gambling, during the fight against drugs and cyber piracy. And now a similar picture can be observed in China, whose government is trying to squeeze bitcoin.

Not just China, but the vast majority of the Asian governments are trying to squeeze Bitcoin. And the ICOs are giving them an excuse to target Bitcoin. Recently I read that more than 80% of the ICOs end up as scams.

[Arya_anime]

Whenever the government tries to ban what people like, it's something that goes to where officials can not reach the hands. This happened with the prohibition of gambling, during the fight against drugs and cyber piracy. And now a similar picture can be observed in China, whose government is trying to squeeze bitcoin.

Not just China, but the vast majority of the Asian governments are trying to squeeze Bitcoin. And the ICOs are giving them an excuse to target Bitcoin. Recently I read that more than 80% of the ICOs end up as scams.

but in japan in legal bitcoin, I think why illegal bitcoin in asia, because they are afraid and this can also include the business strategy of each country's government

[Blueshark696]

Governments are concerned about taxation and their lack of control over the currency

[Zalura]

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

there may be several factors that make many countries in Asia not yet support bitcoin as a legitimate medium of exchange

the first factor is probably the state is protecting the value of their currency because it is feared that a lot of money will be spent in the country to buy bitcoin, make it weaken the country, or trade factors which is still traditional and buying and selling still uses paper currency so it is still difficult to accept digital currency, or the three government banking technologies may not support cryptocurrencies, so the government does not want to take a lot of risk.

[Kunal666456]

The biggest thing is that the government is not able to keep track of the transactions by which income tax is also being stolen because without any tax, money is exchanged by bitcoin, hence the government here is so But it's a government fault that it has not been able to increase its technology so much.

[Cuong1411]

Because the government thinks it is bad and can harm its people. But part of the population in Asia thinks it is unreasonable for peopleand  involved in playing virtual currency.  and I am  a Asian    

[Danilotot]

I think because of the banks of different countries. because I also know they do not cry the crypto because they will be against them. but I think they can not stop cryptocurrency because of the big people who invest in it.

[F_Ivanov1993_]

Everywhere different people and everyone has their own policy regarding bitcoin and cryptography.

[Yadamosan]

I think it depends on government on that country becuase there are some country in Asia are not actually illegal the bitcoin but im not declaring that Bitcoin is legal and im surely that government in that country is want to control everything money only on their country. Not all country in Asia are not Illegal Bitcoin but and we all known that almost all the people in that country is investing on Bitcoin so i think they have right to invest on what people want to invest so there is no reason to make illegal Bitcoin otherwise cryptocurrency is our Future Bank.

[Firefox07]

Only few country in asia make bitcoin illegal. There reasons not clear why they make bitcoin illegal. And i am glad that my country is not making any move to make it illegal. In fact they are starting to study crypto. And how to make it safer for its users.

[bryant.coleman]

The OP needs to understand that "Asia" is a large continent with a population of more than 4 billion. The legality of Bitcoin is not uniform everywhere in Asia. In countries such as Japan and Singapore, it is 100% legal and in some others such as Nepal and Bangladesh, it is illegal.

[gregory04ui]

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