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AmXProX
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October 17, 2017, 05:51:10 AM |
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I think you are talking about the case of delhi in india?? No the news is not about Delhi in India. That happened in Nepal(country between India and China) . But, there are some facts which are totally unclear to me. 1.Is Btc totally ban in Nepal? Or they have been arrested for exchanging bitcoin without a valid license ? 2.Nepal trying to follow the Chinese policy over crypto-currency ? “Bitcoin is illegal in Nepal.” – Kedar Prasad Acharya, Deputy Director of Nepal Rastra Bank. Yes Nepal banned the used of bitcoin, they said it is because they can track the transaction and it is high risk. https://www.rabinsxp.com/bitcoin-illegal-nepal-says-central-bank-nepal-bans-transactions/ |
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Transactions must be included in a block to be properly completed. When you send a transaction, it is broadcast to miners. Miners can then optionally include it in their next blocks. Miners will be more inclined to include your transaction if it has a higher transaction fee.
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bubblebit
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October 17, 2017, 05:58:28 AM |
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Illegal if stated by law and violating it is punishable on terms it was been approved.
My reaction at first is a little bit confused of what I’m reading is true or not. But it turns out to be legit and to be one of them as an example to those who violates the law is the last position i would like to be with.
We do find regulation is needed but to be on the foot of those arrested in that situation is something they’re government must act intelligently. Hope most of us have learned a valuable lesson on this bad fate by doing what is right and lawful.
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Vatimins
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Blue0x.com
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October 17, 2017, 07:41:55 PM |
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This really isn't surprising if you ask me. Nepal has always hated crypto currencies ever since. Honestly, I pity those men imprisoned just because of using bitcoins. But they already knew what would happen if they get caught. And still they chose to continue using bitcoin. So they should face wjat ever the consequences may be. This news is really quite scary if you ask me, because other governments may do the same to any of us here. I wish this hatred for crypto just disappears so that we all can unite in making this world better with the help of crypto currencies. |
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etraderhart
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October 20, 2017, 12:54:39 AM |
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Not just in Nepal, but people are getting arrested for fraudulence.
Many Bitcoin MLM companies are starting to get out of hand, we can all recognize them as pyramid scams, where you'd need to invest a certain amount of money, and after a few months, they'd double or even triple the amount.
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pentol86
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October 20, 2017, 01:55:42 AM |
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is that because money laundry, so some people use bitcoin to trade
i think you need legal license, from your goverment
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btc-facebook
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October 20, 2017, 03:35:02 AM |
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Unfortunately my country also forbid bitcoin for transaction but people still able use bitcoin but with their own risk.
Luckily my people still not being arrest for using bitcoin until now and bitcoin popularity also quite low.
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migolmigol
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October 20, 2017, 09:44:47 AM |
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Fraud must have a purpose to deceive people and take their money. In the case of trading bitcoins this is not. A person voluntarily buys a bitcoin, and has the ability to always exchange the coins for Fiat. Nepal does not apply to democratic countries therefore the courts will take the side of power. I feel sorry for these enthusiasts of the cryptocurrency but they are also responsible for the power which is in their country.
I agree. And also, the government are strict in some countries and everyone should be aware with the regulations. Bitcoins is safe as long as you do the trading in a legal manner. |
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Lieldoryn
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October 20, 2017, 09:58:50 AM |
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is that because money laundry, so some people use bitcoin to trade
i think you need legal license, from your goverment
You that detectives had read? Where the user of dirty money? Lol! The government believe that all our money is dirty. They want us to work and the salary was given to them. Bitcoin allows you to be in another jurisdiction and be beyond the reach of the laws of the state. Therefore, all governments of the world although the ban on bitcoin. The only difference is that some do it explicitly and some hide their intentions under the guise of legalization. |
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rasl.curt
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November 29, 2017, 07:35:46 AM |
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As I know, Nepalese currency is pegged with Indian currency and Indian monetary system plays a huge role in Nepalese system. So since bitcoin is not getting a legal status in India, it won't get in Nepal as well.
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soham
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November 29, 2017, 08:53:05 AM |
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That's really laughable steps taken by Nepal Kingdom. They were one of the first countries in Asia to open up casino but now arrested people for bitcoin trading. How convenient is that! That means, you can gamble legally but you can't earn money online. That's the actual story of two-faced Nepal king. I strongly condemn this step taken by Nepal King. He just can't digest that fact that their citizens can earn something which is not regulated by them. Not a good news! |
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Laland
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November 29, 2017, 10:39:39 AM |
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That's really laughable steps taken by Nepal Kingdom. They were one of the first countries in Asia to open up casino but now arrested people for bitcoin trading. How convenient is that! That means, you can gamble legally but you can't earn money online. That's the actual story of two-faced Nepal king. I strongly condemn this step taken by Nepal King. He just can't digest that fact that their citizens can earn something which is not regulated by them. Not a good news! The news started in october so maybe things got a little lighter now. It is good for economy but it their rule banned crypto trading, then i guess citizens must make transaction overseas to at least avoid conflict with the law. |
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carlfebz2
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November 29, 2017, 01:49:13 PM |
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That's really laughable steps taken by Nepal Kingdom. They were one of the first countries in Asia to open up casino but now arrested people for bitcoin trading. How convenient is that! That means, you can gamble legally but you can't earn money online. That's the actual story of two-faced Nepal king. I strongly condemn this step taken by Nepal King. He just can't digest that fact that their citizens can earn something which is not regulated by them. Not a good news! The news started in october so maybe things got a little lighter now. It is good for economy but it their rule banned crypto trading, then i guess citizens must make transaction overseas to at least avoid conflict with the law. Since transactions can be done easily on other country then this way would really be the best way if you do make trades and do make huge transaction volumes or profits then if you do see that your government do prohibit and do treat it as a fraud then better to avoid it if you don't like to go into prison. This is just really a desperate decision and why bitcoin trading is illegal. Well we cant do anything about it as a citizen we don't really have the power to oppose. |
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kris_wolf
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November 30, 2017, 08:55:41 AM |
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As i know ,Nepalese leaders aren't using bitcoin to launders their money that is why CIB took such action. There are lots of big corruption case where they tie their hands and act blind where as on the issues of Bitcoin they arrest people..
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Hexah
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November 30, 2017, 01:12:10 PM |
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They were doing more than just trading, they were running an exchange. Running an unlicensed exchange is risky business in any country.
But I find this sentence from the OP article to be most interesting:
"He further said that if found guilty the suspects will be punished under the prevalent laws of Rastra Bank."
Are finacial laws in Nepal set by the bankers?
It's not just that they were running an unlicensed exchange. Bitcoin trading is downright illegal in Nepal. It's sad, but these people are most likely going to be made an example of. It kind of makes you wonder just how much power a government can have regarding cryptocurrencies. They can't monitor and stop every single transaction, but they can jail exchanges to make sure their currency isn't used to buy and sell Bitcoins. This problem can theoretically be averted by vendors accepting Bitcoins as payment, so there would be no need to convert, but it still sucks that some governments are too averse to new technologies. Well it should really not asked for more, it's totally a prohibition by the government but I have a question is it only in Nepal or whole country of India? Because if that's so, India should have strong support regarding cryptos because it has big potential growth on economy if they will just support for it. Well, never to judge those three but as an enthusiasts too I think doing the same as they do will be in my mind too as well as others that will take risks. Hope many would realize what crypto bring in a country. |
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Harlot
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November 30, 2017, 01:15:46 PM |
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When you read the news right they are being arrested not because of Trading Bitcoin but because they are running a cryptocurrency exchange which is illegally operating in Nepal. Bitcoin really in general has nothing to do with it the fact that their exchange is not registered to their country means that their operations are illegal, they are earning from the Nepalese citizens without Tax, the worst thing that could happen is that their citizen's money is vulnerable to being robbed as this exchanges can run without you able to track them back.
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notthematrix
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November 30, 2017, 01:59:13 PM |
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This shows how much countries are scared about bitcoin, because it can totally disrupts economy
Soon all countries will do the same, to prevent the mass to go full bitcoins
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Palmerson
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November 30, 2017, 05:19:30 PM |
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This shows how much countries are scared about bitcoin, because it can totally disrupts economy
Soon all countries will do the same, to prevent the mass to go full bitcoins
It seems to me that all countries will adhere to the General policy of the ban of bitcoin. A lot of money and there will always be a country that wants to keep them. It will be a kind of offshore zone for bitcoin users. Trade exchange and storage will be carried out on their territory. I don't care who earns the mediation. So I'm not afraid of bans. |
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RodeoX
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The revolution will be monetized!
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November 30, 2017, 06:18:42 PM |
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Ok then, add Nepal to the list of tyrant nations.  I thought about a trip there, but I no longer visit countries that won't accept bitcoin. |
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kimochidesh
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November 30, 2017, 08:55:52 PM |
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That's really laughable steps taken by Nepal Kingdom. They were one of the first countries in Asia to open up casino but now arrested people for bitcoin trading. How convenient is that! That means, you can gamble legally but you can't earn money online. That's the actual story of two-faced Nepal king. I strongly condemn this step taken by Nepal King. He just can't digest that fact that their citizens can earn something which is not regulated by them. Not a good news! It is sad to know that crypto-trading is not legal in Nepal. Nepal made casino legal coz it help them to earn taxes and increase the nation Income of their country. Moreover it also helps them to increase Tourism in their country. On the other hand, Bitcoin will not help Nepal to earn any taxes. Even BTC usage may decrease nepal's national incomes as BTC being anonymous and can't be tracked so it may be used for tax evasion. |
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btc-facebook
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December 01, 2017, 07:49:00 AM |
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This shows how much countries are scared about bitcoin, because it can totally disrupts economy
....
For the example, my government forbid bitcoin because it can be use for money laundry that's why my government will make the legal regulation for bitcoin. At the moment, I can still own and trading bitcoin without fear getting arrest ! |
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