Unregulated market is illegal or legal?

[Patient_Zero]

To be criminalized in financial cases, there must be an exception in the law that criminalizes dealing with bitcoin and imposes penalties for anyone who trades using these currencies.
Based on the above,Bitcoin is not defined in your law. This means that you can not be legally criminalized.
But this does not mean that you are safe where there can be a law that prohibits the use of your local currency in any transfers outside the banking system
Ask a lawyer if you want to create a work "company/ business" based on cryptos/bitcoin.

I have never heard that bitcoin violates the law, in a country that rejects bitcoin we can still exchange bitcoin in legalized countries, and we can transfer to local banks and local currency, so we don't violate any laws, I don't think we are a problem, we can always trade in bitcoin currencies.

[zahed]

In crypto illegal countries government thinking against cryptocurrencies so also law is working in against. You can't hold crypto in any bank because crypto is not supported how you can stoke in banks or others vendor.

[zahed]

Yes definitely, that is not illegal but not also legal. You know why? Because the government has nothing to do with cryptocurrency whether they regulate but still bitcoin has functional the reason is no one blame or no one behind in bitcoin currency.
Since they know that it is helpful to the economic growth and having a chance to contribute to the economic growth, governments now keep quite on this crypto world.

Crypto is contribute to growing in economical growth you can't assuring 100%, because you know that crypto is a unstable currency like bubble but this is not my conception. Without illegal declaration it will neutral condition i think.

[Argoo]

Comming from a 3rd world country, many opinions around but not certain. The country gov. doesn't have official statement about crypto. There is a law that you cannot own a bank account abroad and that you can't own stocks outside of the contry. But i think crypto doesn't fit into stocks sector. What are your oppinions?

Cryptocurrency is not a bank account abroad and no shares. If the cryptocurrency is not regulated by the states, then as a general rule, it can be called a legitimate activity. According to the laws of most states, any business is considered legal if there is no special prohibition against it.

[Dirk2017]

It will depend of every government on how they will treat the existence of unregulated market but mostly they will declared it legal but it will be regulated to ensure that it will help the economy rather than destroying it. Here in my country, the government stand neutral but maybe they are just observing it until they will regulated it to be a legal.

[Mhd-Bobbi]

Everything is legal until the appropriate laws that make it illegal are established. Since the law decides what is and isn't legal, if there are no laws that say BTC can not function without proper regulations it remains legal. You are right thinking that BTC isn't a bank account nor stocks and since your wallet isn't assigned to your name you don't have to inform the government.
I hope that answers your question in full

Yes, I agree with your answer, I think the use of bitcoin is all legal, no one forbids it, but it depends on the government in their respective countries.
For what the government knows if the government does not legalize the use of bitcoin, I think that is not an alternative, but that is a problem in the future. Because in some countries, their government does not legalize the use of bitcoin.

[tuapoma]

SWIFT Causes Headaches for Remitters, Cryptocurrency Offers Reprieve

SWIFT transfers are notorious for taking long and costing a lot, but this was highlighted when it was recently revealed that a UK charity could not get £11,000 to 36 orphans in Zambia after weeks of waiting.

The sending bank, Barclays, blames a lack of communication from the receiving bank in Zambia, but the charity organizers were just happy to get their money back after being in limbo. The issue was exposed during an investigation by the Observer, whom also discovered many similar experiences by other bank users. Typically, users can expect SWIFT to make transfers in a few days, but it can take as long as a few weeks depending on the country, which is not to even mention the extraordinary fees. At this rate it becomes faster to put the cash in a briefcase and hand deliver the amount.

However, this then highlights another problem of the current financial system around the world – withdrawing your own money. Due to current anti-money laundering laws, it can often become a hassle to withdraw your own money, depending on the amount. Within the US, between $2,000-$10,000 USD it is at the bank’s discretion to file regulatory forms, but after $10,000 USD it becomes mandatory. To bring into perspective, $10,000 USD is often not even enough to buy a moderately well-maintained used car. Many banks around the world also self-impose ATM withdraw limits, which highlights fractional reserve banking and the fact that banks do not have enough cash on hand to fulfill all their liabilities.

Cryptocurrencies provide faster, cheaper, and better solutions

Cryptocurrencies eliminate these hassles since transfers can be made in minutes for a few dollars on the slowest networks. On faster networks, such as DASH, an InstantSend transaction can be made, right now, in 1-2 seconds for $0.01-$0.02 USD, which is about to become the norm with Automatic InstantSend. Additionally, transactions can be followed since blockchains are public, so if a receiver claims to have never gotten the money, like the instance above, consumers can track their money rather than relying on the word of third parties. Cryptocurrencies also empower consumers the full right to own and use their money, since as eluded to above, significant amounts of money stored in banks cannot be withdrawn, in whole, without significant delays and/or forms to complete.
DASH is Digital Cash!

[izanagi narukami]

Of course it's illegal and my government usually will shut it down if it's keep operating.

My local exchange paying tax and have the license so they are being regulated but my government did not regulate crypto so trading with crypto become our risk and they will not help if something bad happen let say got scam,etc

[sambel90129]

Comming from a 3rd world country, many opinions around but not certain. The country gov. doesn't have official statement about crypto. There is a law that you cannot own a bank account abroad and that you can't own stocks outside of the contry. But i think crypto doesn't fit into stocks sector. What are your oppinions?

wrong thinking, crypto is different from stocks, so we can have crypto abroad without anyone being able to manage it, because people in a country can have accounts to save their money in banks that are abroad very freely, also we can buy any shares overseas, so the same as bitcoin their system cannot be interfered with by any country.

[deppil]

Yes definitely, that is not illegal but not also legal. You know why? Because the government has nothing to do with cryptocurrency whether they regulate but still bitcoin has functional the reason is no one blame or no one behind in bitcoin currency.
Since they know that it is helpful to the economic growth and having a chance to contribute to the economic growth, governments now keep quite on this crypto world.

Crypto is contribute to growing in economical growth you can't assuring 100%, because you know that crypto is a unstable currency like bubble but this is not my conception. Without illegal declaration it will neutral condition i think.

Of couse without an official statement from the government. the conditions will be neutral. that means you can still use bitcoin for any transaction activity you like in your country. including my countries that have conditions like this. I'm still free to use bitcoin without restrictionss

[primejia]

Why shoukd you define as legal or illegal. Just take a note, countries who adapted bitcoin have considered as legal and who are yet to adapt have not yet announced as illegal. It depends on the laws made by individuals. Its just the market competition between fiats and crypto currencies. When crypto stands up in the market, too many crisis do come hence it should not be considered as illegal. To be fact it aims to be legalised everywhere and is striving towards it.

very much depends on the policy of which country we are in, but basically bitcoin is legal, but many countries feel threatened by the emergence of digital currencies, because it has the potential to eliminate the dominance of existing currencies, so the status of bitcoin in various countries is still uncertain, this only a matter of business competition in the banking sector which is likely to be reduced by their money trees being replaced by bitcoin, because bitcoin offers convenience in all forms of payment and security.

[avikz]

Comming from a 3rd world country, many opinions around but not certain. The country gov. doesn't have official statement about crypto. There is a law that you cannot own a bank account abroad and that you can't own stocks outside of the contry. But i think crypto doesn't fit into stocks sector. What are your oppinions?

Crypto is a new asset class and can't really fit as per the current definition of asset classes. So as long as you have ambiguity on the crypto related laws in your country, it's not illegal. It is just unregulated and it doesn't mean it is illegal. So carry on with your crypto related activities unless there is a proper regulatory framework given by your government. Also look for the existing legal definitions of stocks in your country and see if crypto fits that bill. Most probably it won't so you don't need to worry just as now!

[Zalura]

Everything is legal until the appropriate laws that make it illegal are established. Since the law decides what is and isn't legal, if there are no laws that say BTC can not function without proper regulations it remains legal. You are right thinking that BTC isn't a bank account nor stocks and since your wallet isn't assigned to your name you don't have to inform the government.
I hope that answers your question in full

see a situation where there is no prohibition on the ownership of bitcoin, so long as that bitcoin is legitimate or legal, perhaps the problem is the use in each country which has no clear rules, but buying and selling of bitcoin remains an activity that is not prohibited.

[Ozero]

Comming from a 3rd world country, many opinions around but not certain. The country gov. doesn't have official statement about crypto. There is a law that you cannot own a bank account abroad and that you can't own stocks outside of the contry. But i think crypto doesn't fit into stocks sector. What are your oppinions?

If Bitcoin and another cryptocurrency in any state is not regulated, then its use can be considered legal due to the fact that in such a state there will be no special prohibition on its use. In order to talk about prohibiting the use of Bitcoin, referring to the fact that in certain cases it is impossible to use stocks, securities, have bank accounts abroad, you must first legalize the cryptocurrency and recognize it as securities or other status that is prohibited for use.

[erikoy]

It could not be declared as legal unless the government had made some arrangement or rules and regulations with bitcoin. So if it is unregulated meaning to say that cryptocurrency is neither legal nor illegal unless also if it is being declared as illegal by the government organizations for those who disagree with the system.

[Pattart]

The word unregulated doesn't means illegal.If something is not under the control of government it does not means that it is illegal.Let us talk about crypto's.In many countries it is not legal as well as illegal but still many exchanges are working with it and people are using it.So unregulated market is neither legal nor illegal.

the market cannot be regulated by any country, market law is as long as there is still demand, it can be ascertained that buying and selling bitcoin will always be there, and bitcoin is not a violation of the law so buying and selling bitcoin wherever I feel is not a problem because the system is online with the bank, indeed many countries do not want to recognize bitcoin but they even want to apply taxes so that bitcoin will always be in the trade.

Thats true, but if without regulation of course bitcoin market will be considered a black market because it is illegal because it does not have a clear legal law? even without regulation though the market will continue to run, but regulation on the market will give an official image and not illegal impression..

[jeromix]

In my opinion I considered illegal for those unregulated market. Just like the other system that has found something unusual which call up the attention of the government for operating a system that is not being registered in any concern government agency for the matter is considered as illegal.

[Argoo]

Comming from a 3rd world country, many opinions around but not certain. The country gov. doesn't have official statement about crypto. There is a law that you cannot own a bank account abroad and that you can't own stocks outside of the contry. But i think crypto doesn't fit into stocks sector. What are your oppinions?

Cryptocurrency can not be considered a bank account, especially open outside the state. It also can not be considered shares. In any case, until the cryptocurrency is legalized in a particular state and its official status is determined, it cannot be equated to any other type of document.
If a cryptocurrency is not regulated by states, it should be considered legal, since there will not be a special prohibition on its use. As a general rule, it is allowed to engage in any type of business, unless there is a special ban on them.

[jonaire99]

Regulation controls the way a business should operate and unregulated means a type of business or activity that is not controlled and directed by rules or laws. Here in my country, bitcoin is not legalized nor regulated but the government did not make any move to ban the coin and other cryptocurrencies. The people are free to use virtual coins in any kind of transactions and several exchanges are also given licenses to operate in the countries.

[goaldigger]

Crypto illegalization depends on what country it is. So even though its legal for you to acquire crypto, if you want to buy something or send some of it on those people who lived in a total ban crypto then that would be useless. And also, here in my country, you cannot establish a company if you arent a citizen but you can open a bank account.