why bitcoin illegal in asia?

[Anfisman]

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

I think one of the things that causes bitcoin to be illegal is because of the fears felt by the government in the country to bitcoin, they still consider bitcoin as a threat that can damage the stability of their policies, especially in the monetary field. This is what I think is why they still have not received bitcoin.

But now in Asia there are some countries are starting to receive bitcoin, like Japan, South Korea, this is a good thing for bitcoin. I'm sure people are starting to realize the possibility of bitcoin in the future so little by little they start to accept it.

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[ipanks]

although maybe there is any country in asia giving state that bitcoin is illegal, i think it is not stopping bitcoin to spread in other country. i think that country is not learn anything about bitcoin so they can give negative oppinion about something new especially we are live in digital era which almost everything is using new technology. but i am sure that if they learn about blockchain technology and they realize that will bring something new for them, they will adopt bitcoin and make bitcoin legal in for their country.

[mehedi24]

   i live in asia.  i know bitcoin illegal in asia ... because the countries which ban bitcoin usually have rigid central government control, like Thailand.

[kimochidesh]

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

Legality by Asian countries:
 +China: Restricted -  Exchanging bitcoins by people is lawful in China.
 +Hong Kong: Yes -  In any case, the power will be firmly viewing the utilisation of bitcoins mainly and its improvement abroad.
 +Indonesia: Restricted - All risks regarding ownership or use of Bitcoin are borne by the owner or user of Bitcoin and other virtual currencies.
 +India:  Restricted - India presumes that Bitcoins can be utilised for hawala exchanges and subsidising terror operations.
 +Israel: Yes - The Israel Bar Association considers the virtual money a fitting type of installment for lawyers.
 +Japan: Yes - You know! sure 
 +Kyrgyzstan: No - According to national law, the use of bitcoin and similar currencies is illegal.
 +Malaysia: Unrecognised -  The national bank won’t direct Bitcoin operations right now, and clients ought to mindful of the dangers connected with bitcoin use.
 +Philippines: Yes -   Bangko Sentral ng Pilipinas (BSP) will be monitoring the possibility of Bitcoin usage in money laundering and other illegal purposes.
 +Russia: No -  In February 2014, Russia’s Prosecutor General’s Office guaranteed that bitcoin is a cash substitute and “can’t be utilised by people or lawful elements.” In September 2014, Deputy Finance Minister Aleksey Moiseev reported that a law will be gone by Spring 2015.
 +Singapore: Yes -  Organisations that have an arrangement with bitcoin money trades will be saddled in light of their offers of bitcoins.
 +South Korea: Yes - There are no regulations in South Korea regulating the utilisation of bitcoin at the moment. On December 12, 2013, the president of the Bank of Korea recommended at a press conference that bitcoin be regulated in the future.
 +Taiwan: No - Alongside China, they have discharged a joint articulation against the utilisation of bitcoin. Truth be told, controllers have even went as far as to piece endeavors of establishment of Robocoin ATM. While bitcoin itself is not illicit, endorsements for bitcoin ATMs have been disallowed.
 +Thailand: No - A Bitcoin startup denied a business permit which was supposedly informed that purchasing and offering bitcoins, utilising bitcoins to purchase or offer merchandise and administrations, and moving bitcoins all through Thailand were all presently unlawful.
 +Vietnam: Restricted - Being one of the rare countries to ban bitcoin outright, the use of bitcoin in Vietnam is restricted. Despite this, there are still some small businesses that accept bitcoin.
 +Turkey: Yes - Bitcoin is not regulated as it is not considered to be electronic money according to the law.

Good piece of knowledge Crosshair...But like to add few points.
+Bangladesh also restricted the use of bitcoin, It is totally illegal to use there and if caught using it as transaction method, a heavy penalty is imposed and can also put you behind the bars.
+India haven't restricted the use of BITCOIN as such, till now no clear stand is taken by Indian govt. So no punishment or penalty can be imposed on their users. Infact, India have some Legal crypto-currency exchanges like Zebpay, Unocoin, Koinex etc.

[suvo05]

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

I don't know what country you are talking about! If you talking about China(Facebook, twitter, youtube are banned there)- then bitcoin is not totally ban there . ICOs are ban and some exchange sites without license are banned there. And other country is North Korea Though every thing is banned there (even singing).
Except this two country I don't think there is any issue of legalisation of bitcoin else where in asia. 

[rausvi15]

Agreed that, bitcoin is not yet legal in most of the asian countries but it is incorrect to say that bitcoin is illegal in asia. Many asian countries are leading the bitcoin market if you compare it with the other countries.

[doublebit21]

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

China has issued a few notices with respect to the utilisation of Bitcoin. These announcements have had a huge effect considering China is one of the biggest Bitcoin showcases on the planet. There are no official rules as of now. It appears that China would like bitcoin to stay as an “afterthought” sort of thing. In an announcement on the national bank’s site the People’s Bank of China stated that monetary establishments and installment organisations can’t give estimations, purchase and offer bitcoin, or protect Bitcoin-connected items. On the 6th of March 2014, Bangko Sentral ng Pilipinas (BSP) issued a statement on risks associated with bitcoin trading and utilisation. Bitcoin exchanges are not regulated by BSP at present times. BSP will be monitoring the possibility of Bitcoin usage in money laundering and other illegal purposes.

[Proton2233]

My opinion is that the ban of bitcoin is not related to economic processes. This is likely a political decision. The authorities are afraid of losing control over the citizens. Always the more money the more difficult to manage. Thus, we only see the beginning of the process of the ban of bitcoins in the world. The totalitarian regimes will try to do it first. Then the turn comes to democratic countries.

[mabell943]

Based on my own underatanding bitcoin can be consider as illegal if it is banned in some countries on of this is russia but as time goes by they adopted it.

[nazzzzz]

Because asia countries have different rules about money so that if this rules good with bitcoin it will be legal otherwise willnot


you can find some asia countries allow it and other not

[BtcTtm]

They're going through regulation, but it's not prohibited or illegal yet i guess 

[matuson]

Based on my own underatanding bitcoin can be consider as illegal if it is banned in some countries on of this is russia but as time goes by they adopted it.

Russia is not Asia. But they have one thing in common. This lack of a developed democracy. The less democracy, the more bans. Bitcoin helps people achieve financial independence. This is not like authoritarian rulers, and therefore they are fighting against bitcoin.

[Nameless27]

~ due to religion or any government regulations.

I don’t think religion has something to do with it and I don’t think it is proper to talk about it in this community. So much propaganda has happened for those religion related issues in the real world let’s not bring it out here.

Asia is not banning bitcoin but regulating. It is not also good generalizing the issue because I’m obviously from Asia and I can assure anyone that in my country bitcoin is not banned or even illegal. Yet it is not Legal as well, but we have the freedom the facility and the means to exchange our bitcoin through wallet provider that is local in our country.

Sometimes regulation of bitcoin is needed for abuser to be afraid.

[Emmami@758]

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

not only asia in some country's it is illegal. most of the politicians, business mans and others they trying to change money in the wrong way. they taking money from normal people and skipping tax saving for their next generations. they not try to save and help to their country's. in many country's most of the people changing their black money in to bit coins. because it is illegal business. they didn't say any accounts to the government and not to pay tax for government.

[alva 666]

1) it can’t track and

2) many hackers and bad people use it

3) no ID needed

4) many scammers use bitcoin

[denny27]

The point is that the governments in Asia hasn't yet fully acknowledged the existence of bitcoin and hasn't really been able good respond to all people who use bitcoin. There are still many concerns that will be generated from the using of bitcoin that could harm the country, given the nature of anonymous and very private bitcoin transactions, of course.. this is very worrisome will happens many crimes / criminalized by peoples. In addition, the existence of bitcoin is still considered to harm the local currency / ordinary currency, which can damage the financial system. Indeed bitcoin is not made for illegal purposes.. well but the fact is bitcoin still vulnerable to be said illegal.

[MiF]

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

The reason is the same with the other non Asian countries that ban bitcoin is because bitcoin is decentralize in which the government can't track or trace the transactions and afraid that bitcoin can be use by bad elements like money laundering that may ruin the country. Maybe they have other reasons in which a self interest but this is the common reason of all government. 

[Frank0209]

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

The reason is the same with the other non Asian countries that ban bitcoin is because bitcoin is decentralize in which the government can't track or trace the transactions and afraid that bitcoin can be use by bad elements like money laundering that may ruin the country. Maybe they have other reasons in which a self interest but this is the common reason of all government. 

Yes, you're right, Almost Asia countries are developing countries so I think they are incapable of controlling Bitcoin transaction to avoid Bitcoin taking advantage of by crimes to commit guilty. Beside, in almost Asia countries, Bitcoin is not legalized so everyone don't have to pay tax for Bitcoin income so a lot of litigation happened but the result still the same, people in these countries still don't have to pay tax for Bitcoin income because it's not legalized in here.

[Blackwhite69]

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

The reason is the same with the other non Asian countries that ban bitcoin is because bitcoin is decentralize in which the government can't track or trace the transactions and afraid that bitcoin can be use by bad elements like money laundering that may ruin the country. Maybe they have other reasons in which a self interest but this is the common reason of all government. 

Yes, you're right, Almost Asia countries are developing countries so I think they are incapable of controlling Bitcoin transaction to avoid Bitcoin taking advantage of by crimes to commit guilty. Beside, in almost Asia countries, Bitcoin is not legalized so everyone don't have to pay tax for Bitcoin income so a lot of litigation happened but the result still the same, people in these countries still don't have to pay tax for Bitcoin income because it's not legalized in here.

Asian have high-value residents by not paying taxes for their country therefore the government is afraid bitcoin will be a big stunt for their country.

[shuhei]

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

In Japan, the Financial Services Agency officially recognizes exchanges that gained specific standards.