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Author Topic: why bitcoin illegal in asia?  (Read 9499 times)
Rupok
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November 03, 2017, 05:36:21 PM
 #181

I have no idea,But I think it will not take much time for Bitcoin to be legal in Asia. Because most people in Asia continent are working on Bitcoin, though it is illegal but it seems to be interested in their work.


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November 04, 2017, 01:46:24 AM
 #182

I have no idea,But I think it will not take much time for Bitcoin to be legal in Asia. Because most people in Asia continent are working on Bitcoin, though it is illegal but it seems to be interested in their work.



I think it will take a lot of time for Bitcoin to be legal in our country - Philippines. Though there are some people using it, our government still dont have that much of time to study bitcoin and legalized it. Also Im worried about the taxes they will put in using it.

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November 04, 2017, 01:07:39 PM
 #183


I am Japanese, but bit coins are legal.
Just cognition is not done much

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November 04, 2017, 01:08:59 PM
 #184

Without reading anything. It's stupid and expensive. (Cheaper coins for the press..)

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Plus it is "dangerous" ? Everybody knows what stupid means. Expensive ? Send it to the bill. Yeah.
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November 04, 2017, 02:25:12 PM
 #185

Bitcoin is still new to when we're comparing to any other investment who were almost a hundred years been existed.. So let the government take time to adapt to it and we will see,, soon how they will be do to calmed down the eagerness from bitcoin users to be recognized.. Let them suffer for the choice the officials they make if they still ignored bitcoin..


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November 04, 2017, 02:45:24 PM
 #186

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

Who said that?
Nobody can prove government's stance on the legality or illegality of Bitcoins and many countries are accepting it now as well as others are in the process of either legalizing it or study the whole concept of Bitcoins and will decide in the future, but nowhere is it said by any country in Asia yet that Bitcoin is illegal there. Even China, after stopping trading and mining activities in the country, haven't given any such statement yet. Can you please specify the name of the country that said Bitcoin is illegal there?

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November 04, 2017, 02:51:55 PM
 #187

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

Not Asia you have to say Asian some country, 
cause you know bitcoin is just an online currency,  and it can't be used for payments.
Also, bitcoin depends on the market, If this market lost then people can have a huge loss, maybe that's why some country illegal bitcoin.

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November 05, 2017, 06:56:03 AM
 #188

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

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.

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November 05, 2017, 06:59:56 AM
 #189

China may ban Bitcoin trading, but the market doesn't seem to care
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November 05, 2017, 07:13:33 AM
 #190

Hello everyone,

I am new to this forum this is my first post, I have just gone a series of wikipedia pages on-line and I see that many countries in Asia have different policies regarding Bitcoins

 https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

You can click on the above given link and check the status as when they get updated. To be more specific for my country which is India.

This is what I found on the Internet

The article given below is from Business Today.in

Even as economies like Japan and Russia move to legalize the use of Bitcoins, India, despite being at the cusp of a digital revolution is yet to officially recognize the cryptocurrency.
 
India's central bank, the Reserve bank of India or the RBI, which regulates Indian rupee, had earlier cautioned users, holders and traders of Virtual currencies (VCs), including Bitcoins.
 
"The creation, trading or usage of VCs including Bitcoins, as a medium for payment are not authorised by any central bank or monetary authority. No regulatory approvals, registration or authorisation is stated to have been obtained by the entities concerned for carrying on such activities," the central bank had said.
 
In March, RBI Deputy Governor R Gandhi warned against crypto-currencies such as Bitcoin. "They pose potential financial, legal, customer protection and security-related risks," Gandhi said. "Payments by such currencies are on a peer-to- peer basis and there is no established framework for recourse to customer problems, disputes, etc. Legal status is definitely not there," he added.
 
However, the central bank hasn't unequivocally banned Bitcoins in the country.

So in essence the govt& RBI have not termed is illegal but on the other hand has not recognized it as well.

Hope this helps.
 
ridhonofri23
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November 07, 2017, 12:20:26 PM
 #191

Maybe a lot of people in asia who plays first and perhaps bitcoin bitcoin made by Asians.
 yaaa maybe Yes and maybe no, that's how my thinking


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November 07, 2017, 05:40:27 PM
 #192

Maybe a lot of people in asia who plays first and perhaps bitcoin bitcoin made by Asians.
 yaaa maybe Yes and maybe no, that's how my thinking



I do not think it would be developed in Asia. Probably something in Japan is possible and also Japan has legalized the cypto currency. though it is not sure as such but possibility that in China or Japan this technology might have being developed by some institution or by group of people.
 

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November 08, 2017, 03:54:48 AM
 #193

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks
Definitely not all in asians bitcoin are illegal.There is no reason for them why bitcoin cannot be legalized for me its legal and my transactions here are safe and secured.I am glad that like japan the legalized bitcion in their country implementing cryptocurrency to them.

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November 08, 2017, 05:36:35 AM
 #194

Asia is a poor country and people are more resident than a continent. There are many countries behind the internet and technology are far behind. As a result, the governor for ignorance and does not think that Bitcoin is good, or his business is bad. Many see the crypto-currency as a bad eye. For the lack of education, lack of understanding of ignorance etc. All these countries are illegal. See more http://bitcoinist.com/bitcoin-still-illegal-six-countries/

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November 08, 2017, 06:02:48 AM
 #195

Where OP get his information?
I do not heard that bitcoin was illegal in asia and i do not also heard that bitcoin is already legal in asia but all people have freedom to used and earn with bitcoin even government know this digital currency. But here in the Philippines central bank release some statement that they will support decentralized currency but our government still no comment about that.

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November 08, 2017, 07:58:19 AM
 #196

I think earlier most countries' governors have no idea how or who to ban/manage this area. China comes to be the first and then it sets the example for other neighbors obviously.

It's easier to just shut it down.

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November 08, 2017, 09:08:34 AM
 #197

China may ban Bitcoin trading, but the market doesn't seem to care

Definitely, look at the price of bitcoin now continues to soar higher and the only thing that comes from my mind is that asian countries and their governments wanted to control their people and trying to make their own coin. Cryptocurrency is our future technology.

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November 08, 2017, 10:47:13 AM
 #198

China may ban Bitcoin trading, but the market doesn't seem to care

Definitely, look at the price of bitcoin now continues to soar higher and the only thing that comes from my mind is that asian countries and their governments wanted to control their people and trying to make their own coin. Cryptocurrency is our future technology.

People notice Asian countries maybe because many of its countries like Korea, China and Japan are are very important factors when it comes to bitcoin price. China is only temporarily banning bitcoin and it will restore soon with some new rules and regulations. There are other countries that strictly prohibits bitcoin including mining like Venezuela but didn't have an impact on bitcoin market.

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November 08, 2017, 02:05:36 PM
 #199

If the government can not control bitcoin, then it prohibits it.
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November 09, 2017, 10:00:29 AM
 #200

I have no idea,But I think it will not take much time for Bitcoin to be legal in Asia. Because most people in Asia continent are working on Bitcoin, though it is illegal but it seems to be interested in their work.



Not the whole Asia banning bitcoin but just some part of it. I think some Asian countries ban the bitcoin is because the common reason is the same with other continents that they afraid that Bitcoin might be use in illegal activities that may ruin the country's economy and securities. The good thing is some Asian nations did not declared bitcoin is illegal but not ban so the people of that certain country will surely enjoy the benefits of bitcoin with out tax.  Wink   

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