why bitcoin illegal in asia?

[burner2014]

bitcoin illegal some Asia country but why?can you give me some reason about this?? thanks

Bitcoin is illegal in some Asian countries because these countries have banned the use of Bitcoin, either using it as an investment asset or as a means of transaction. And because some countries also do not believe in the existence of Bitcoin, so the country does not want to legalize it.

Actually buddy to be more specific only some part on the asia were banned due to illegal act that was done on those countries. Also their government think that the economy will affected since many people become part in the crypto currency community they will not go to work which they prefer to work at home by working in crypto currencies. Thus, we can't even control in what will be like by those people as they have their own perception in life as long as can support the financial stability for the needs of the family.

In some countries, it is not illegal in some ways, it is just not yet legal but they are eyeing it and was considering some other things before making it legal, it will just take a lot of time before doing it, but that does not mean that we are not allowed to do so.

[1713894304]

1713894304

[Nivir]

Bitcoin is illegal only in some part of Asia. Asia even owned the largest volume when it comes to crypto. Look at those largest top exchanges and they are nearly  all Asians.

[VelascoMark20]

I just have read an article recently that in china bitcoin trading is prohibited because they oversees an internet financial risks that were circulated online and verified by a government source to Reuters. Because of this event the bitcoin user in china sell-off their bitcoins.

[bryant.coleman]

I just have read an article recently that in china bitcoin trading is prohibited because they oversees an internet financial risks that were circulated online and verified by a government source to Reuters. Because of this event the bitcoin user in china sell-off their bitcoins.

The situation in China is understandable. The Chinese Yuan is one of the most manipulated currencies in the world and the emergence of Bitcoin was posing a major threat for the authorities. So it is no surprise that the Chinese government is trying to stop the usage of Bitcoin in that country.

[yerger]

Yes, in my country it's illegal because. It can be used for illegal transaction, and othe crime activities.

[welliamy]

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

In the late last year China the country that known having strictest capital in the world
And the second nation that more populations blocked citizens from trading crypto banning,
Blocking and outlawing crypto currency.

[U20]

I think Contrary to what is believed, bitcoin is not illegal in Asia. but asian countries are afraid of bitcoin and other cyrptocurrencies because they have a conservative structure and that they are behind technology, unfortunatelly..

[galaxing]

I think it depends on the country, because in Asia there are many that allow the existence of bitcoin, because its value is not harmful. as in my country, his government is very supportive.
in asia that is not permitted existence of bitcoin ie only arab saudi, kyrgyz, and bangladesh. that's what I just found out.

[Inovasi87]

I never heard the news that bitcoin has become an illegal thing in Asia, and there is no news to say about it. Even japan, and other countries have legalized bitcoin, and use bitcoin in their country.

[Sithara007]

Bitcoin is illegal only in some part of Asia. Asia even owned the largest volume when it comes to crypto. Look at those largest top exchanges and they are nearly  all Asians.

Nearly all Asians? Who told you that? The users from the western nations constitute a bare majority of the crypto users as of now. The Asian users are somewhere around one-fourth to one-third of all the users. Even the trade volumes are skewed towards the western nations.

[Commie]

Living and travelling across all the South-East Asia I have never heard if crypto being illegal. For fairness, I also never heard of it being legal either

[johanesrobin]

I live in Indonesia, and the government bans trading using Bitcoin. People still have to use Rupiah as a transaction tool.
but bitcoin is considered an asset like gold.

[beej]

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

I think governments around the world have different views and opinions on that matter, though
that may change over time just as we've seen happen with these past few months and years.
It just shows that persuasion takes time, bitcoin still has a lot to prove. One or three country
might begin to accept and some time may embrace bitcoins, that could be a potential catalyst
that would trigger other nations to understand the beauty and relevance of accepting and
working with bitcoins. I think Asia will the last remaining frontier for bitcoins and cryptocurrencies.

[golek upo]

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

I think the reason is probably that governments in some Asian countries are too pessimistic with the development of bitcoin. They are afraid to try the latest innovations.

[TheCableGuy]

Bitcoin in Asia is considered capable of undermining the economies of developing countries and bitcoin can be used as a money laundering place so that governments in most Asian countries forbid it. except in Japan in the country has legalized bitcoin and has started to regulate the use of bitcoin. Bitcoin also keeps a lot of flaws because everybody does a transaction, we can see the deals they do very easily because they are all stored in bitcoin networks.

[Sithara007]

Living and travelling across all the South-East Asia I have never heard if crypto being illegal. For fairness, I also never heard of it being legal either

Bitcoin was banned in Thailand many years ago, although I am not sure about the current status. Vietnam has also made all forms of crypto-currency illegal in that country. Indonesia has also imposed a ban on Bitcoin. The only South-east Asian nation with a positive attitude towards crypto-currency seems to be Singapore.

[Virtual miner]

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

Could be anything ranging from private corruption to just a conservative government. I am sure in some countries private countries pay politicians or decision makers to not allow bitcoin because if bitcoin becomes really big, it can cause losses to those corporations.

Yes these are the most common reasons for many of the countries not giving acceptance to bitcoin. While on one hand I see Japan on the verge of becoming bitcoin capital of world, then we have countries like India in Asia where they aren't ready to let people trade in crypto assets. They have discontinued all the services for purchase and selling of Bitcoin and other virtual currencies. This has borne a risk factor in minds of many Indians and this definitely is going to have a negative impact on the bitcoin rice and other virtual currencies as well. Probably the scenario would change a lot after the government happens to impose a ban on the bitcoin in India for real!!!

[arion6868]

can you be more specific about which country? im from asia and my friends all around is talking about bitcoin and even other coins as well, as far my knowledge, singapore malaysia taiwan philippines thailand vietnam we all is talking about bitcoin too

[ballerin and giroud]

Generally a country who ban bitcoin is a developing country, and generally a country who accept bitcoin is a developed country. You can distinguish the contrast a country who ban an who accept. For developing country still much a corruption, less social welfare, and the average community is also less understood about financial technology. So they are more comfortable to choose money physic compared use cryptocurrency. Whereas in asia still much a developing country compared developed country.

For government who ban cryptocurrency they have a reason, if they accept cryptocurrency the society will much using cryptocurrency with a ilegal transaction like buy drug, money loundry because a corruption. And they afraid the society more comportable using bitcoin as a payment and this situation can be sure the national money will dissapear.

[Universal pics]

Asian countries differ from each other greatly, some of them are pushing innovations (like South Korea, for example)
So bitcoin isn't illegal in all Asia, just in small parts of it