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Author Topic: why bitcoin illegal in asia?  (Read 13080 times)
Mamoot
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February 22, 2018, 03:33:31 AM
 #401

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

Governments that are afraid to accept developments in currency, may be the same as what happened in China. Because too many are investing in bitcoin they assume the impact is that the country will lose.
In contrast to conventional fiat spheres, bitcoin differs in that no supervision can control values due to its decentralized nature, reducing circulation can cause instability typically caused by central banks.
There is also limited inflation control that is implemented in Bitcoin software.
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elisabetheva
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February 22, 2018, 08:54:22 AM
 #402


probably many causes in some countries do not legalize bitcoin, because every country has its own problem and very different.
which may be one of them is feared that money laundering from money that is not true in the transaction so that the rotation is difficult to trace.

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February 22, 2018, 12:17:08 PM
 #403

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

Governments that are afraid to accept developments in currency, may be the same as what happened in China. Because too many are investing in bitcoin they assume the impact is that the country will lose.
In contrast to conventional fiat spheres, bitcoin differs in that no supervision can control values due to its decentralized nature, reducing circulation can cause instability typically caused by central banks.
There is also limited inflation control that is implemented in Bitcoin software.
.

China is a communist country and their government wants to get hold all of the assets and know all the things their people do but I don't think they are afraid in this new cryptocurrency cause they are one of the first countries to adapt into it too. correct me if I'm wrong.

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February 24, 2018, 09:03:56 AM
 #404

bitcoin like ponz scheme
The ponzi scheme is an illegal investment mode that gives investors an advantage of their own money or the money paid by the next investor.

Profits are not obtained from individuals or organizations that run investment activities.

Ponzi schemes usually persuade new investors by offering higher returns than other investments in the short term with very high returns.

The continuity of such high returns requires an ever-increasing flow of money from new investors to keep this scheme going.
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February 24, 2018, 01:43:01 PM
 #405

The government want's to protect the innocent people who are recruited by those who are involve with ponzi scheme, pyramiding, networking and these scheme is rampant in Asian Country and now that bitcoin is very popular they use bitcoin as a front to recruit people.

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February 24, 2018, 01:57:18 PM
 #406

bitcoin illegal  some asia country bt why?can you give me some reason about this?? thanks
There are some countries, banning bitcoin ,but yeah mostly is in asia countries. Infact the government want to take action against bitcoin so that they can control everything, or maybe in some valid reason . Bitcoin can also be use as money laundering . also as tax evasion . cause they cant get tax in esvery bitcoin transaction. that's why they want to regulate bitcoin.
Actually in our country in Philippines bitcoin together with the altcoins are studied on how they implied taxes but since this crypto currencies now are follow the rules and regulations of our country governments can't prohibited it. However I was worried because there's a lot of news that crypto currencies now was used in evil or illegal transactions, so I was scared to banned it.

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February 25, 2018, 07:24:33 AM
 #407

Im from Asian country but it is not ban in my country so far. Japan is an asian country right? Bitcoin was started by a Japanese. I think there are maybe certain legalities concen in some Asian countries thats why Bitcoin cant penetrate somehow. Well i guess government is somewhat after with our safety thinking that Bitcoin transactions are untracesable because of being decentralized.
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February 26, 2018, 01:27:14 AM
 #408

The government want's to protect the innocent people who are recruited by those who are involve with ponzi scheme, pyramiding, networking and these scheme is rampant in Asian Country and now that bitcoin is very popular they use bitcoin as a front to recruit people.

Banning cryptocurrency to protect your people is not the solution either. Look at those countries who adopted bitcoin or any other crypto that are so successful right now like japan. Basically the government will look at it as a treat to their governance. Providing a better information to its people will solve the scam scheme not banning it.

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February 27, 2018, 10:41:26 PM
 #409

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

Some Asian Muslim County bitcoin illegal.They think Bitcoin can not be seen,This currency will last one day.
They were concerned about the use of this currency.
They think these coins are used for bad things.
For this,these coins are banned in Asian countries.
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February 28, 2018, 12:54:34 AM
 #410

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

There are lot of countries in Asia therefore you should mention which country declared Bitcoin is illegal but lot of countries adopted Bitcoin as a legal for investments particularly Japan in which is in process to make Bitcoin as an optional use as salary payment. Only few countries are banning Bitcoin compare to the numbers of willing to adopt Bitcoin in which most of their reason of banning is connected to patriotism.

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March 04, 2018, 06:04:43 PM
 #411

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

There are lot of countries in Asia therefore you should mention which country declared Bitcoin is illegal but lot of countries adopted Bitcoin as a legal for investments particularly Japan in which is in process to make Bitcoin as an optional use as salary payment. Only few countries are banning Bitcoin compare to the numbers of willing to adopt Bitcoin in which most of their reason of banning is connected to patriotism.
Not all Asian countries bitcoin is Illegal, some are just quite enough while they were still conducting a study about bitcoin, and some were open in public that they don't tolerate bitcoin so people thinks with that statement that bitcoin was already illegal in that country which in fact is not.

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March 04, 2018, 06:16:01 PM
 #412

In Japan, Singapore and South Korea Bitcoin is legal and I think it's a big win for a world crypto market!  Cool
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March 06, 2018, 06:39:06 AM
 #413

I have not heard of this before.  Is it their governments are more interested in controlling everything.
DBS is Southeast Asia's largest bank and strongly believes in technological advancements. DBS group technology director David Gledhill said it considered bitcoin to be a ponzi scheme. The ponzi scheme is an illegal investment mode that gives investors an advantage of their own money or the money paid by the next investor. Profits are not obtained from individuals or organizations that run investment activities.

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March 06, 2018, 06:40:55 AM
 #414

may be their economy is rich enough without it...
even though it shouldnt be illegal...
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March 06, 2018, 07:11:07 AM
 #415

Regulators in Asia Pacific have become increasingly uneasy with the rise of cryptocurrencies such as bitcoin. ... Philip Lowe called the fascination with virtual currencies a "speculative mania" and added that bitcoin is more likely to be attractive to those transacting in the illegal economy, than consumers
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March 06, 2018, 07:42:47 AM
 #416

In order to say that an act is illegal there should be a law that define its legality. Illegal is different from prohibited, Bitcoin is widely used in Asia so to say it is allowed and not illegal. Some Asian countries issued regulations on the used of Bitcoin. As to the question "Why Bitcoin is illegal in Asia, read first before posting a question so that it has a direction." When we raised a question it's either you want to clarify things or you have zero knowledge on it, but given the evident scenario in different forum in Bitcoin, I presumed that you've heard a thing or two regarding the legality of it, so there is no need to post it again, rather read more. I wonder, is there someone who monitor all the ideas posted in this site? There should be a control so that it would be more organize.
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March 06, 2018, 07:47:52 AM
 #417

IRS not  illegal government of a country don't want a thing they can't control just like crypto ccurrency they have  to make a move if they don't collided with it the only way is to  totally banned it

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March 07, 2018, 09:05:59 AM
 #418


Governments fear that there will be cases of using digital money for tax evasion, money laundering or financial terrorism.
fear of serious financial risks
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March 07, 2018, 09:20:28 AM
 #419

bitcoin illegal some Asia country but why?can you give me some reason about this?? thanks
The reason Bitcoin is still illegal in Asia is very much. What I know may be one of them because the Bitcoin price is lucrative. So Governments across Asia do not want to risk too much.
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March 10, 2018, 06:30:22 AM
 #420

bitcoin illegal some Asia country but why?can you give me some reason about this?? thanks
The reason Bitcoin is still illegal in Asia is very much. What I know may be one of them because the Bitcoin price is lucrative. So Governments across Asia do not want to risk too much.
It is not that illegal, they were just focusing on something that they cannot  prioritized bitcoin, and it is also really hard to do this one because it is decentralize and they don't know how to do this thing since they don't know exactly how it works and it will took you a lot of effort before you will do this.

   
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