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Author Topic: What it actually meant by Ban?  (Read 396 times)
julielyn
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April 10, 2018, 04:51:20 AM
 #21

Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?

Yes, you may be guilty if you live in a country where bitcoin is banned because there is a policy that they do not have the bitcoin in their country without a bitcoin if you know that there is no bitcoin because they have the ordinance that they are banned by bitcoin You know what their rules do not do better than jail.
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Lorna t
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April 10, 2018, 04:57:07 AM
 #22

 In this regarded we need to look and the legal regulations is that country completely .for all I can tell is the BTC keep a bitcoin wallet its almost impossible for any state to identity you.im an early supporter of a BTC or any crypto money on a stock exchange and it also shares saying information with the government of that country .while having a problem with it for example the state can not be able to prove that its a bitcoin core wallet itself .but as I saying that the start we will have to look at the content of a legal regulations. If you share the law text in English we can also evaluate it but if you say it as a hypothesis it does not make any sense what I can say .
sherwinaze
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April 10, 2018, 05:04:29 AM
 #23

Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?


I think no your not going in jail or any punishment because you holding bitcoin  it is crypto currencies how they know that you had a bitcoin they can't monitor of who holding bitcoin in every country..

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pat4cryptoreal
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April 10, 2018, 05:14:00 AM
 #24

For now 90% of bitcoin must be exchanged to fiat currency in order to finally use it to pay for goods and services. The banning is very effective at the point of exchanging it to fiat currency.

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April 10, 2018, 05:51:19 AM
 #25

In most instances the media are using the word "Ban" because it sells newspapers. Let's take India for instance, where the governments announced that Banks should not do business with Crypto currency exchanges. They did not say that Bitcoin or any other Crypto currency is illegal, nor did they say that people will be arrested if they were caught trading Crypto currencies.

A blanket Ban on Bitcoin will forbid people to own/trade Bitcoin and specific laws will be made to prosecute people, if they broke these laws.

Some countries will say Bitcoin is not allowed to be accepted as a legal tender/currency, but you are still allowed to trade it as a commodity.

markflayer
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April 10, 2018, 04:48:27 PM
 #26

For now 90% of bitcoin must be exchanged to fiat currency in order to finally use it to pay for goods and services. The banning is very effective at the point of exchanging it to fiat currency.

Then it is better to go with International exchangers rather than locally operated exchanger. Local exchangers may share your KYC with authorities when ever they require.
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April 10, 2018, 05:29:39 PM
 #27

In simple words, a ban is something that restricts you from buying and selling cryptocurrencies using fiat currency. Still, you are free to use cryptocurrency to pay your bills if the other party is willing to accept it. There is no law prohibits you from using cryptocurrencies. However, if you are using it for illegitimate activities then you will be labelled as criminal and government have full rights to punish you with imprisonment for the same. Bitcoin is not illegal, using Bitcoin (or anything) for illegal activities is illegal.

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April 11, 2018, 06:01:37 PM
 #28

For now 90% of bitcoin must be exchanged to fiat currency in order to finally use it to pay for goods and services. The banning is very effective at the point of exchanging it to fiat currency.
Yes it is wise decision when your country ban the crypto activities.
Nsync
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April 11, 2018, 06:09:20 PM
 #29

In my country bitcoin is banned
hanabii
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April 11, 2018, 06:14:36 PM
 #30

Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?
prevent accounts from being used for fraud or other factors that can be prevented by certain mederator policies
markflayer
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April 12, 2018, 04:50:58 PM
 #31

In my country bitcoin is banned
Where do you live?
chandrarahmadewa
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April 12, 2018, 06:06:51 PM
 #32

Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?
It could happen if the country has such a regulation. In my country transactions with bitcoin are not allowed, but legalized bitcoin as virtual digital assets.
Please don't panic. you can transact in international markets such as bittrex, poloniex, cryptopia

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Rinzo
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April 12, 2018, 06:53:09 PM
 #33

every country has rules and regulations governing its affairs. if bitcoin is banned in a country and the activities of the citizens of the country is being monitored, then your IP address can be flagged when ever you are carrying out a BTC transaction but other than that, no one can possibly know you are in possession of bitcoin if you do not go talking about it
markflayer
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April 17, 2018, 04:57:32 PM
 #34

It is better to stay away from bitcoin transactions if your country have such restriction.
megamanexe002
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June 10, 2018, 09:59:38 AM
 #35

Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?

Ban (law)-a decree that prohibits something,sometimes a form of censorship,being denied from interring or using the place.
sadsNDJ
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June 10, 2018, 10:04:18 AM
 #36

It depends on their perception about bitcoin. Maybe they're just afraid the risk that it could be used to fund crime or illicit terrorist activity — another reason is that it can be a route to circumvent capital controls. That is why they prefer to remove this one.

abiola1
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June 10, 2018, 10:10:33 AM
 #37

It is boycott implies you won't permitted to trade the digital money in financial balance, not been utilized to purchase things within a nation for bitcoin or alts. Other than that they can't ready to do anything to the crypto clients. In the event that you continue trading the store with the general population in your nation or neighborhood trades implies it might make an issue you.
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June 10, 2018, 01:50:10 PM
 #38

Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?
Well, being banned is actually means that something is prohibited to do and that will be very restricted. It is better that we know exactly the given restrictions or rules about banning bitcoin so we can be much aware to that and we can't able to do something to violating it. But unfortunately, even it's totally banned in our country there is always a way of involving to it without the acknowledgement of the third party which is bank and government.

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dragoz11
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June 10, 2018, 02:10:47 PM
 #39

well if you hold btc in a banned country the possibility for them to find out this is almost impossible as soon as you don`t get involved in ICO`s or other kyc required investings.
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June 10, 2018, 02:19:57 PM
 #40

Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?
It depends on the state regulations set.
But usually, someone will not be punished for holding Bitcoin, Because Bitcoin is a digital asset as well as gold, silver etc.
Most countries forbid Bitcoin to be used as a legal means of payment.

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