Will bitcoin in Southeast Asia be legal?

[AppnanaHack]

we can wait for this is happening in the next year or the next two year and this is possible for southeast asia make bitcoin as legal. but I don't think that bitcoin can be a new currency in the short time because it will need more things to be set and the government still not ready for this. we can hope that soon after bitcoin is legal in southeast asia, the government from each country will make bitcoin as a new currency too.







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https://xboxmethod.com

[menammeo]

Central banks in Southeast Asia are now taking a cautious stance towards the rise of virtual currencies but it is inevitable that they will adopt the basic technology or blockchain technology.
These banks also say that speculative investments in the virtual currency market do not pose a risk to the system but require greater regulatory oversight.
In particular, while central banks seem to be adopting new payment systems from startups, the rise of virtual currencies Bitcoin or Ether, they seem to be much more cautious. For central banks, one big problem is that they can not influence the formation and circulation of digital money. In addition, virtual currency transactions do not follow the laws governing financial transactions in the country, particularly those on the reporting and money laundering. However, central banks Southeast Asia is very interested in the use of blockchain - a technology behind the virtual world and also known as Distributed Ledger Technology (DLT).
This is a digital ledger form that works without a repository center. This technology uses the power of peer-to-peer networks to validate and validate valid archives or "blocks". These blocks are marked by time, interlocked and password-protected, which prevents modifications. This technology is suitable for storing anything of value.
For the financial industry, blockchain technology promises faster, safer and safer transactions. Transfers between countries' accounts can be made in seconds versus a few days if using the current system.

[Seeker#9]

Because to my knowledge there are several countries in southeast asia that have not legalized bitcoin. And what is our endeavor for bitcoin in southeast asia to be legal like any other country (which has legalized bitcoin).

Will the impact be positive or negative?

There will be no negative or positive impact in the cryptocurrency if a country will not legalized bitcoin but banning or legalizing it would be. When China banned bitcoin, its price dropped shortly but it also recovered later, legalizing it will push the price up. Here in my country, we have a crypto friendly government and there are already steps made by the financial leaders for the possible legalization of bitcoin in the future.

[Vohoanghiep]

Bitcoins are not really legalized in Southeast Asia. However, people there can still use them to transact on the internet, banning anything directly. However, I think it will soon be legalized and used in the future because more and more people know it and want to use it. Some large banks have intended to use them

[Tecmessa]

To my knowledge, only Thailand is legally allowed Bitcoin and Bitcoin exchange in travel. If my information is inaccurate. Please correct me.

[SIDDHI777]

if the country has not tried to legalize how it can know the impact is negative or positive, while the thing that has not been done is to legalize it, at least it needs to legalize it so that it can know the negative or positive impact

What you have mentioned is true but the problem is majority of countries aren't ready to take that kind of risk because still the bitcoin and decentralized digital currency concept is new to the world so for most governments making a currency like bitcoin legal within the country is considered as a major risk but I think with time that fear will go away because if bitcoin adapt into more businesses like it is happening today and help them to increase there profits eventually they will understand the potential of bitcoin but definitely will take some time that to happen

[Specimen]

there has been a wave of ASEAN government optimism about bitcoin, one example is Singapore and Indonesia, Indonesia even has a special blockchain association as a benchmark and bridge of education between the community and the government.

there are still many who are not open and even forbidding that does not mean they do not close their eyes completely, legalization is very complicated for developing countries, this only happens in most developed countries.

they tend to do further studies and only follow what the US does. There is currently no clarity, but crypto startups have adorned businesses in the public domain and regulation of local exchange markets as third parties between crypto users and legal banks in their countries.

[Malam90]

I've red that Japanese government was preparing for licence for crypto markets. This is the legalization, I think.

If Japanese government takes action for licence about cryptocurrencies market, it will an example for the world like South Asia Countries ( India, Bangladesh, Pakistan). They will think about legalization process in their country. In Bangladesh, Pakistan and India, a lots of people are engaged in Bitcoin.

[AAfunctionaluppityF]

I think it will, like in other places.
BTC legally can helps a lot of companies in several ways, with more exposure and efficiency.
I think this is only a transiction, where a lot of countries are trying to stop it.

[ribowo76]

Read this: https://cryptoslate.com/how-bitcoin-and-cryptocurrencies-are-transforming-southeast-asia/

Crypto has already begun making an impact in that region. The market there is great for crypto as more people have access to smartphones than to banking services. This in turn has increased the use of mobile payment platforms such as Linepay and Wepay and therefore hints towards the idea that a formidable crypto payment platform will be easily adopted. There is already one exchange platform called omisego that has partnered with Alipay that allows southeast asian crypto enthusiasts to transact in crypto.

We have more info on the omisego platform as well, feel free to check it out: http://bit.ly/OmisegoGuide101

Cheers

I think, this is good news for crypto users in southeast Asia. Because it will make it easier for the crypto community to make payment transactions using crypto.And I believe, any government will not be able to ban the use of cryptocurrency

[bit-freedom]

As far as I know of, a few countries such as Japan and Thailand in Asia have approved crypto. IMO, we can’t say for the whole of Asia since each country set its own regulations.

[T.TAYLOR]

Unless Southeast Asia kicks off the stupid foolish power hungry insane Government which is made with literally illiterate ministers - I see no hope for Bitcoin in Southeast Asia. The status of Bitcoin varies from country to country majority of the country do not make the usage of Bitcoin illegal . The existence of Bitcoin can increase employment and increase the income of the citizens so we can think that Bitcoin in southeast Asia will be legal .Since all are looking for the profit we can believe that Bitcoin will be legalized in southeast Asia . Even though the government will legalize Bitcoin the Banks will have difference of opinion.

[Altcoin Reviewer]

Unless Southeast Asia kicks off the stupid foolish power hungry insane Government which is made with literally illiterate ministers - I see no hope for Bitcoin in Southeast Asia. The status of Bitcoin varies from country to country majority of the country do not make the usage of Bitcoin illegal . The existence of Bitcoin can increase employment and increase the income of the citizens so we can think that Bitcoin in southeast Asia will be legal .Since all are looking for the profit we can believe that Bitcoin will be legalized in southeast Asia . Even though the government will legalize Bitcoin the Banks will have difference of opinion.

I agree with you on this point at all, I also think that in this area, the government is not able to make understand the importance of the blockchain issue. when outside countries will make legalise this platform then the fool countries also follow their step.

[waynechong1995]

Should be similar like other countries anyway, like other countries does it might need KYC for taxation purposes on trading or purchasing, the volume plays a huge impact but of course there's many cases where illegal activities are facilitated by cryptocurrency and was cracked down by authorities, cryptocurrency would perserve a location like another other financial instrument tools for a small group of traders

[rishad quraishi]

Because to my knowledge there are several countries in southeast asia that have not legalized bitcoin. And what is our endeavor for bitcoin in southeast asia to be legal like any other country (which has legalized bitcoin).

Will the impact be positive or negative?

What I think is, there will be both positive and negative impacts on south asian countries. Because as far as I know most of the south asian country government thinks that allowing the international currency exchange method will increase the rate of money laundering, but the thing is it also helps a country to help doing business internationally. So if bitcoin is allowed both positive and negative impact will take place. If bitcoin will be allowed, the government should imply some reasonable rules so that the negative impacts gets reduced. But what I see is, it is mostly positive to me.

[akram143]

Because to my knowledge there are several countries in southeast asia that have not legalized bitcoin. And what is our endeavor for bitcoin in southeast asia to be legal like any other country (which has legalized bitcoin).

Will the impact be positive or negative?

What I think is, there will be both positive and negative impacts on south asian countries. Because as far as I know most of the south asian country government thinks that allowing the international currency exchange method will increase the rate of money laundering, but the thing is it also helps a country to help doing business internationally. So if bitcoin is allowed both positive and negative impact will take place. If bitcoin will be allowed, the government should imply some reasonable rules so that the negative impacts gets reduced. But what I see is, it is mostly positive to me.

I think the Bitcoin uses are most of the people will not be the Asian people why I am saying this in Asian countries that Bitcoin will not be popular as popular like America and other countries so my opinion as we cannot see this is the biggest city using of Bitcoin

[kirisakidaichi]

maybe this is a good idea, but not all countries legalized, because it makes good news about crypto on social media, it might also have a positive effect and write article, please try

[gokudera]

Because to my knowledge there are several countries in southeast asia that have not legalized bitcoin. And what is our endeavor for bitcoin in southeast asia to be legal like any other country (which has legalized bitcoin).

Will the impact be positive or negative?

Well if bitcoin truly be legalized to the countries around the world there's no way for the southeast Asians to regret the new technology or the new existence of great currency. Innovation is a must so that if the number of countries that uses it becomes larger the asians will be forced to use it also to gain or follow trend

[Payme21]

I think with time, most nations will have no option but to legalize these coins including south eastv asia because the populase will force it and i truly see that time coming. With time the wont be able to suppress the growth

[riskarcher]

For Southeast Asia it will be difficult to implement a blockchain system because I, as a Southeast Asian resident, still feel that in my place there is still a lack of understanding of Bitcoin, in my country I still believe that gold and home are real assets, in my country Bitcoin as the worst asset