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Author Topic: when they say crypto's are "banned" in other countries outside USA what's that?  (Read 243 times)
cizatext
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February 28, 2019, 08:39:42 AM
 #21

When they said a country have banned cryptocurrency what it really is that the government does not recognized cryptocurrency as a legal tender and at that it taking measures to curtail all cryptocurrency activities because it seen as illegal activities, but in at that one can use some other means to take part in cryptocurrency activities but in doing you have to be careful and use software that can hide your identity.
1Referee
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February 28, 2019, 08:48:50 AM
 #22

There are actually certain states in the US that most likely have some sort of restriction on bitcoin transactions on a state level due to the fact that I see some states being singled out in the ToS of bitcoin exchanges. So it's definitely a worldwide thing.

In most cases it concerns gambling. Coinbase for example will suspend your account if you send funds to a gambling site, and they have pretty sophisticated tools to exactly know what gambling site you're sending funds to. It still happens that it catches people by surprise, but they should know that at least within the states, Coinbase is very tight with its policies.

It always has been one of the bravest exchanges in the space, so unless you're a total newbie and don't read the terms before registering, you should be aware of this.
jseverson
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February 28, 2019, 09:14:29 AM
 #23

If you're within a jurisdiction that doesn't allow the use of crypto at all, I'm fairly sure the exchange won't let you purchase coins. They might not even let you register. This could cause them headaches down the line, kind of in the same vein of some ICOs not allowing US investors to buy in, with some of them even implementing IP filtering.

That being said, anything is possible if you don't get caught. You can freely use any VPN to gain access to certain exchanges and use them normally. It only becomes a problem when you're found out. Implementing bans over the internet is very hard to pull off in practice, so it should be fairly easy to get away with anything related for as long as you know what you're doing.

omone1
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February 28, 2019, 09:21:26 AM
 #24

My country is neither for nor against bitcoin, you simply just trade at your own risk. Am okay with this, the government doesn't want to bear any responsibility. If I were in a country that bans bitcoin, I will just be using decentralized exchanges or I won't perform KYC, I will keep my trade low and stick to 24hrs maximum withdrawal without KYC. In as much as possible I would avoid exchanges that deals with KYC.
gantez
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February 28, 2019, 09:23:53 AM
 #25

If a country pronounce ban on cryptocurrency, I think what it means is that it has become illegal to continue with cryptocurrency in that country and if found on it, the person will be punished for it. Also, the country on her part will do everything possible to restrict practice on it , including internet restriction.
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