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Author Topic: why bitcoin illegal in asia?  (Read 12921 times)
Zalura
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August 30, 2018, 03:05:00 AM
 #581

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.
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Kunal666456
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August 31, 2018, 05:37:41 AM
 #582

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.
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September 01, 2018, 05:49:32 AM
 #583

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.  Cry Cry and I am  a Asian   Cool  Embarrassed
zabizana
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September 05, 2018, 11:32:57 PM
 #584

Asian countries have varying response rates to digital currencies, there is greater uniformity in the speed of their actions.

China, which has banned the ICO and closed the cryptocurrency exchange amid fears fraudulent activities are said to begin the process to end Bitcoin mining activities domestically.

Citing similar concerns over fraudulent activities, namely money laundering, the South Korean banking regulator has begun investigations related to cryptocurrency compliance in some of the largest bank countries. The South Korean regulator also applies regulations that will prohibit anonymous trading. Like China, South Korea has banned ICOs.

In Japan, in an effort to increase transparency and consumer protection, regulators have officially approved the operations of 11 exchanges and 17 currencies for trade.

Apart from the busy activities of regional arrangements around cryptocurrency, it would be wrong to conclude that such developments would be a bad sign for the cryptocurrency market. Conversely, the introduction of clear regulations in some of the largest cryptocurrency markets will create legitimacy and transparency, reduce fraud, and ultimately improve market integrity.
Danilotot
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September 06, 2018, 11:56:47 AM
 #585

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.
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September 06, 2018, 02:58:16 PM
 #586

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