Unregulated market is illegal or legal?

[idham29]

Everything is legal, until the government officially imposes a ban, it is not legal, at the moment bitcoin has no ban, but it is still not in the national government. It is recognized that it is money.

In my opinion, if a transaction is carried out in a country that prohibits bitcoin, it is illegal. But penalties for violations can be debated, because there must be clear rules from the country's government.
In contrast to transactions carried out in countries that legalize bitcoin, all have rules so that crypto exchange cannot be done arbitrarily without regard to the traders.

[iMark]

I think it is only illegal if there is a law that makes unregulated market illegal. The crypto market in my country is still largely unregulated but the people are free to use and trade any cryptocurrency from both local and international exchanges. Some countries have already imposed their own regulation to curbe some illegal activities and protect their people financially.

Exactly. Without law stating prohibition of using it makes it still allowable or legal. Just like generally speaking, there’s a lot of bad activities being performed everyday but as long as there is no law stating it is prohibited and punishable it remains legal. Here in my present location it is illegal but foreigners can open  bank accounts.

Thats right, except if there are written rules about crypto, then the regulations have been enforced. as long as there is no official notification from the government, then no one can forbid you to use crypto. many countries have yet to respond to the presence of crypto, so crypto is still legal to use.

[rodel caling]

It's clear bitcoin is legal form as new money, until regulation is under process how it to control by the government of the country want to regulate bitcoin but doesn't mean bitcoin is illegal specially from the country knows bitcoin well as new currency.

[darylalban]

At this point I think most is legal unless it is seen as a security or goes against the new FATF Travel Rule. I know some exchanges are working with Ciphertrace to help abide by this law that is set in place

[nrnahid]

As others already wrote, if something's not specifically forbidden, it's not 'illegal'. That being said, your examples of gov's approach to foreign stocks and bank accounts shows high risk of cryptos getting delegated or heavily regulated (IE. by dragging it under already existing definitions).
In such cases it's probably best to directly enquirer with your authorities (preferably anonymously) and ask for clarification.

[carter34]

But i think crypto doesn't fit into stocks sector. What are your oppinions?

If I can rest on your topic about unregulated market being illegal, depending on the jurisdiction; if a country has not declared a thing, practice as illegal then it can not be said to be illegal. The point is, if people are indulging in it, they can't claim compensation, demages or restitution if they are injured nor scammed. So, to their own peril they indulge.