Bitcoin in your country.

[taufik123]

-snip-
Bangladesh Bank also warned that various terrorist activities and money laundering.The Bangladesh government has not yet thought about legalizing Bitcoin. The government thinks that if Bitcoin is legalized, the amount of money laundering in this country will increase even more.

When it comes to terrorist activities and money laundering, every country certainly has these problems and needs to be solved by implementing KYC in every sector.
But that is not a reason to keep banning Bitcoin, Bangladesh should do research on how to prevent money laundering for terrorist activities without the need to ban Bitcoin completely.

In Indonesia, where I live, Bitcoin regulation is only limited to commodity instruments and cannot be used for legitimate payments in place of traditional currencies.
That way there is no complete ban on the use of Bitcoin and other crypto assets, everything is well regulated and under direct government supervision.

As the Bangladeshi government fears a surge in money laundering and other criminal activity,
it is necessary to look at Asian countries that have already accepted Bitcoin and set their own regulations.

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[DYING_S0UL]

-snip-
Bangladesh Bank also warned that various terrorist activities and money laundering.The Bangladesh government has not yet thought about legalizing Bitcoin. The government thinks that if Bitcoin is legalized, the amount of money laundering in this country will increase even more.

When it comes to terrorist activities and money laundering, every country certainly has these problems and needs to be solved by implementing KYC in every sector.
But that is not a reason to keep banning Bitcoin, Bangladesh should do research on how to prevent money laundering for terrorist activities without the need to ban Bitcoin completely.

In Indonesia, where I live, Bitcoin regulation is only limited to commodity instruments and cannot be used for legitimate payments in place of traditional currencies.
That way there is no complete ban on the use of Bitcoin and other crypto assets, everything is well regulated and under direct government supervision.

As the Bangladeshi government fears a surge in money laundering and other criminal activity,
it is necessary to look at Asian countries that have already accepted Bitcoin and set their own regulations.

That's one of the ridiculous reasons the government (Bangladesh) is giving us. While all the other Asian countries are slowly adapting and accepting the use of Bitcoin, as of overall crypto, we can't even get rid of this stupid ban. There are a lot of crypto users in my country, by a lot, I mean a lot. But we are unable to use crypto as we want. There isn't any freedom. So all of us are using it in secrecy. Everyone fears that law enforcement might arrest them. We can't speak of it openly. And as for money laundering, tax evasion, or other criminal offenses, it's everywhere. It doesn't matter if crypto is banned or not. Bangladesh is known as one of the most corrupt countries in the world. It's already corrupted to the higher level. I don't think having crypto will make it go more higher.

[taufik123]

That's one of the ridiculous reasons the government (Bangladesh) is giving us. While all the other Asian countries are slowly adapting and accepting the use of Bitcoin, as of overall crypto, we can't even get rid of this stupid ban.

The Bangladesh government is too skeptical, LOL. Just like people who are too afraid of losing control and afraid of the problems that will occur.
Even though it's just their negative thoughts, When a country cannot adapt to new technologies that can provide benefits, then the country will never progress.

Like China, it did ban Crypto completely, but they are trying to create their own Blockchain more precisely they cannot rely on outside projects.
Like not using Google and making Baidu as a search engine of its own making.

If Bangladesh is able to make all that independently, it deserves to reject Bitcoin entirely, but if it only relies on other brands, that's stubbornness.

There are a lot of crypto users in my country, by a lot, I mean a lot. But we are unable to use crypto as we want. There isn't any freedom. So all of us are using it in secrecy. Everyone fears that law enforcement might arrest them. We can't speak of it openly. And as for money laundering, tax evasion, or other criminal offenses, it's everywhere. It doesn't matter if crypto is banned or not. Bangladesh is known as one of the most corrupt countries in the world. It's already corrupted to the higher level. I don't think having crypto will make it go more higher.

Banning it will only create a strong desire to violate it.
When many people use Bitcoin or interact with crypto clandestinely, this indicates that there is no more trust in the government.
Banning is just a dead end, it doesn't give any results.

Especially when the level of corruption gets stronger, this is tantamount to closing a hole that is not necessarily dangerous,
but a steep hole that is definitely dangerous is not closed at all.

[Awaklara]

Banning it will only create a strong desire to violate it.
When many people use Bitcoin or interact with crypto clandestinely, this indicates that there is no more trust in the government.
Banning is just a dead end, it doesn't give any results.

Especially when the level of corruption gets stronger, this is tantamount to closing a hole that is not necessarily dangerous,
but a steep hole that is definitely dangerous is not closed at all.

because the ban carried out by the government was not accompanied by a solution from the government. That's what makes Bitcoin users in a country that suppresses Bitcoin users with regulations secretly oppose it.

for example, when the state bans certain social media platforms. which resulted in regulations prohibiting the use of certain media platforms in the country. so the government must create and facilitate social media platforms developed by the government itself. so it will increase public trust in the government's choices.

I always believe, when Bitcoin is used by someone for negative behavior. the fault is not with Bitcoin, but with the people who use it. don't limit Bitcoin, it won't solve the problem. but deal with the person to be more righteous. and everything will go well.

[Ale88]

As Bangladeshis we live in Bitcoin unfriendly country. Bitcoin has been declared completely illegal by the government here and all transactions through Bitcoin will be treated as money laundering offences. So we refrain the people of Bangladesh from using Bitcoin. Furthermore, we cannot discuss Bitcoin in public. Investing and trading in bitcoins certainly leads to punitive action against us by the government and we are subject to multiple penalties including jail time for money laundering offences. So we can't earn anything about bitcoins even if we want to.

Unfortunately enough, when Bangladesh completely bans Bitcoin, even anyone caught using it will be arrested and jailed for about 12 years.
There are even many young people who use Bitcoin secretly, and you are here as one of those young people.

In the modern era like now, usually the name of new technology will be widely supported, especially in Payment Technology owned by Bitcoin.

You don't have to be too specific to accept it, just provide clear usage regulations or regulations and that's enough.
But if it is banned completely under the pretext that Bitcoin brings a lot of problems such as criminal transactions and money laundering, surely such a country is not ready for the future of payments, and they just want to regulate everything themselves.

Some other countries that also do not believe in the Bitcoin system and ban it are China and Qatar.

About China banning may be common, but Qatar started banning Bitcoin since December 27, 2020,
Qatar Financial Centre (QFC) stated that all cryptocurrency services are banned in Qatar.

The goal is to attract business and encourage financial growth in the country.
The QFC ban is also designed to prevent the use of cryptocurrencies to finance terrorism and money laundering.

I really don't understand how they could imprison someone for 12 years for using bitcoin, it doesn't make any sense: oftentimes you don't get 12 years of prison even after killing someone, it's just ridiculous. Also because, as pointed out, many young people use bitcoin, so if someone sends or receive even a single transaction will have to spend 12 years in a prison?

[FinePoine0]

As Bangladeshis we live in Bitcoin unfriendly country. Bitcoin has been declared completely illegal by the government here and all transactions through Bitcoin will be treated as money laundering offences. So we refrain the people of Bangladesh from using Bitcoin. Furthermore, we cannot discuss Bitcoin in public. Investing and trading in bitcoins certainly leads to punitive action against us by the government and we are subject to multiple penalties including jail time for money laundering offences. So we can't earn anything about bitcoins even if we want to.

Unfortunately enough, when Bangladesh completely bans Bitcoin, even anyone caught using it will be arrested and jailed for about 12 years.
There are even many young people who use Bitcoin secretly, and you are here as one of those young people.

In the modern era like now, usually the name of new technology will be widely supported, especially in Payment Technology owned by Bitcoin.

You don't have to be too specific to accept it, just provide clear usage regulations or regulations and that's enough.
But if it is banned completely under the pretext that Bitcoin brings a lot of problems such as criminal transactions and money laundering, surely such a country is not ready for the future of payments, and they just want to regulate everything themselves.

Some other countries that also do not believe in the Bitcoin system and ban it are China and Qatar.

About China banning may be common, but Qatar started banning Bitcoin since December 27, 2020,
Qatar Financial Centre (QFC) stated that all cryptocurrency services are banned in Qatar.

The goal is to attract business and encourage financial growth in the country.
The QFC ban is also designed to prevent the use of cryptocurrencies to finance terrorism and money laundering.

I really don't understand how they could imprison someone for 12 years for using bitcoin, it doesn't make any sense: oftentimes you don't get 12 years of prison even after killing someone, it's just ridiculous. Also because, as pointed out, many young people use bitcoin, so if someone sends or receive even a single transaction will have to spend 12 years in a prison?

The laws and regulations of every country are not the same, and some countries' governments definitely put extra pressure on the people.  It's not normal that a bitcoin transaction ever resulted in 12 years in jail, it must have been cruel to the young man. Governments in countries where Bitcoin is illegal do not favor Bitcoin, which means that people who have been secretly using Bitcoin will be punished unnecessarily if it is revealed. But I think the young man was definitely wronged.

[cozytrade]

The government of our country is not in favor of this currency. Bitcoin has been declared illegal by the government and through legal notices warning the people of our country not to use Bitcoin and not to cooperate with Bitcoin in any way. But an ICT state minister of our country has made some reviews about the benefits of using Bitcoin to attract the attention of the government. And suggested research on Bitcoin so that our country does not fall behind in this digital era. So that the government can get a proper understanding of Bitcoin and reconsider the Bitcoin legality issue.

As far as I know this currency has been legalized by the government of many countries. Again, the government of many countries has declared it illegal. I think those who declared it illegal, without understanding about Bitcoin, are adamant in such a decision. However, even though Bitcoin has been declared illegal in our country, people are not lagging behind in using Bitcoin. Many people are secretly using Bitcoin even though it is not being used publicly in our country. With the way people are currently getting interested in using Bitcoin, I am optimistic that Bitcoin will become legal in all countries in the future.

[RockBell]

The government of our country is not in favor of this currency. Bitcoin has been declared illegal by the government and through legal notices warning the people of our country not to use Bitcoin and not to cooperate with Bitcoin in any way. But an ICT state minister of our country has made some reviews about the benefits of using Bitcoin to attract the attention of the government. And suggested research on Bitcoin so that our country does not fall behind in this digital era. So that the government can get a proper understanding of Bitcoin and reconsider the Bitcoin legality issue.

As far as I know this currency has been legalized by the government of many countries. Again, the government of many countries has declared it illegal. I think those who declared it illegal, without understanding about Bitcoin, are adamant in such a decision. However, even though Bitcoin has been declared illegal in our country, people are not lagging behind in using Bitcoin. Many people are secretly using Bitcoin even though it is not being used publicly in our country. With the way people are currently getting interested in using Bitcoin, I am optimistic that Bitcoin will become legal in all countries in the future.

One interesting thing was that people in Nigeria have a lot of interest in Bitcoin, and even though it is illegal, people continue to invest and other Bitcoin-related activities, even though the government has blocked accounts related to Bitcoin, people did not stop, and that is when people turned to using p2p, but eventually the government just made it legal some days ago, happy but not happy because we love it the way we have been operating it.

They know the benefits of fighting the system and looking for any way to centralize it, and the warning of not using Bitcoin must be serious, unlike my country, it was illegal but we were still free kind of, and your minister of information might even have some bitcoin share who knows since is busy telling people about its benefits. Governments do not need to research because they know the truth and know what is right. El Salvador took a good step, and countries that made it illegal will later have no choice because people will still use Bitcoin with or without it, so it is even better to make it legal because I don't see any difference.

[Gaza13]

In my own country, since the emergence of the first exchange that regulates the buying and selling of Bitcoin itself, my country does not completely ban these digital assets, but only allows it as a commodity like shares which is supervised by local regulators. And it is not allowed or prohibited at all for payment in my country, only legal currency for payment of daily transactions.

Seeing the extraordinary growth and potential of this asset, the State quickly took taxes from each transaction and had a quite extraordinary income impact for my country. And mining has also been approved by high-ranking regional officials and they are optimistic that one day it will become the largest mining company in Asia.

[majeed]

The government of our country is not in favor of this currency. Bitcoin has been declared illegal by the government and through legal notices warning the people of our country not to use Bitcoin and not to cooperate with Bitcoin in any way. But an ICT state minister of our country has made some reviews about the benefits of using Bitcoin to attract the attention of the government. And suggested research on Bitcoin so that our country does not fall behind in this digital era. So that the government can get a proper understanding of Bitcoin and reconsider the Bitcoin legality issue.

As far as I know this currency has been legalized by the government of many countries. Again, the government of many countries has declared it illegal. I think those who declared it illegal, without understanding about Bitcoin, are adamant in such a decision. However, even though Bitcoin has been declared illegal in our country, people are not lagging behind in using Bitcoin. Many people are secretly using Bitcoin even though it is not being used publicly in our country. With the way people are currently getting interested in using Bitcoin, I am optimistic that Bitcoin will become legal in all countries in the future.

One interesting thing was that people in Nigeria have a lot of interest in Bitcoin, and even though it is illegal, people continue to invest and other Bitcoin-related activities, even though the government has blocked accounts related to Bitcoin, people did not stop, and that is when people turned to using p2p, but eventually the government just made it legal some days ago, happy but not happy because we love it the way we have been operating it.

They know the benefits of fighting the system and looking for any way to centralize it, and the warning of not using Bitcoin must be serious, unlike my country, it was illegal but we were still free kind of, and your minister of information might even have some bitcoin share who knows since is busy telling people about its benefits. Governments do not need to research because they know the truth and know what is right. El Salvador took a good step, and countries that made it illegal will later have no choice because people will still use Bitcoin with or without it, so it is even better to make it legal because I don't see any difference.

Nigeria's Bitcoin adoption shows people's strength, right? Innovation, like water, flows despite government restrictions. Thanks for the creative workaround, P2P! The problem is, the game isn't going to change just because Bitcoin is legal. Simply accepting the inevitable. Bitcoin, like gravity, is changing our economy.

Don't get ahead of ourselves. Goverments aren't stupid. They see it coming. El Salvador's move? It's bold and savvy economics. Bitcoin investing is about seeing the future, not just defying the system. Friends, the future is digital, decentralised, and a bit defiant. Bitcoin is an expression that we're ready for a new economy, not just an investment.

The Nigerian government reversing Bitcoin? It's more than money legalisation. Recognising a worldwide economic paradigm shift. Bitcoin changes how we think about money, not simply currency. With or without government support, the people are leading this movement. Bitcon will stay. Accept it, comprehend it, and most importantly, participate. The future is coming, and Bitcoin is important.

[Promocodeudo]

In my country, Nigeria Bitcoin transactions through banks were banned but it was never a problem or threat to Bitcoiners because most of them continued to use p2p, there is good news that it has been unbanned by the government through the central bank but the introduced a kyc authentication rule which was not their before, though it was not seen as a problem, this innovation has help most Nigerian youths to be financially okay today because of their involvement in it, the only way most country will halt Bitcoin activity is to stop wallet and several means in which Bitcoin can be transacted but I know it will not be possible because the technology that's built around Bitcoin is very strong to protect it from such attack.

[harapan]

Bitcoin In my country is considered a scam/fraud services.I wonder why they still think and underestimate the digital currency.it is true that Only two countries in the world that believe Bitcoin to be a genuine legal tender. The first is El Salvador. The second is the Central African Republic. It adopted Bitcoin as a legal tender in the second quarter of 2022.The president, Nayib Bukele, announced that this decision was made to uplift people financially all over the country by making financial services more accessible to the public.

Even with all these achievement and successful remarks made about bitcoin,its adoption in my country seems to be slacking.Despite the mass adoption in my country,I believe that bitcoin lives in my country,there are many people who have legalized using bitcoin all by themselves.Bitcoin users and crypto enthusiast are existing.

[Reatim]

Importance of the thread

• This will enable bitcoiners to know the fate of bitcoin in different countries
• This thread will allow travellers to know bitcoin friendly countries that they will travel to for residential purpose or vacation in order to live a bitcoiner's life.

Good initiative but I think Updating the OP about what is special stand in each countries mentioned here on the thread so this may bring  better understanding to many who are planning to travel  around the world.

I go first:

I am a Nigerian.

• On the 5th of February 2021, The Central Bank of Nigeria directed all the banks in Nigeria to close the accounts of all the people that are involved in cryptocurrency transactions in the country. The banks swung into action immediately. This made Nigerians believe that the government has banned cryptocurrency in the country.
• Nigerians began to use centralized p2p to trade and when there is need for banks, they send the money without using any crypto keywords in the narration. Meanwhile,  the information was that crypto is banned in Nigerian

it is sad knowing this , meaning we are still lucky that even though there is a complete acceptance of Bitcoin and  but we are super lucky that we are  allowed in any forms to use cryptocurrency and even allows to Keep any cryptos in out  pocket.

Hope that one day Nigeria will be given a legal way of having Bitcoin in your possession .

[lizarder]

On 28th May, 2023 Nigeria government signed into law the finance act 2023 which grants 10% tax on gains in digital assets including cryptocurrency while still keeping cryptocurrency transaction banned in the country. This is the state of the confusion about bitcoin and cryptocurrency in my country. 

More or less, the treatment of bitcoin in the country where I live is almost the same as in your country because currently we can only use bitcoin as an investment asset and its use as a legal means of payment is prohibited. Likewise regarding taxes because the numbers are not much different from your country, but for me this is not confusing because being given the right as an investment asset is enough. Because we know that bitcoin can be an alternative to protect the money we have compared to placing it in a bank or elsewhere.

But still we use banks when converting bitcoins into fiat and that's where taxes start to apply and are deducted automatically. To expect bitcoin as legal tender especially in my country is impossible and perhaps the current treatment of bitcoin is enough for those of us involved in it.

[cryptoWODL]

I live in a country where Bitcoin is not legalized yet. The government of our country has not taken any steps to legalize Bitcoin so far. I wonder why Bitcoin is not legal in our country where Bitcoin is legal in developed countries of the world. There are many crypto users in our country but they have no freedom. Bitcoin is freely exchanged in almost many of our Asian countries, like our neighboring country India.

The government of our country thinks that legalizing Bitcoin in our country may increase the possibility of money laundering to a great extent for which they have not taken any action yet. But the politicians of our country they launder money in many ways abroad maybe this can be a reason not to legalize Bitcoin.

Every citizen of our country, including me, who is involved with cryptocurrency and exchanges various cryptocurrency coins, dreams that one day Bitcoin will be legal in our country.

[camilocollin6]

As of May 28, 2023, the Nigerian government don sign di finance act 2023 into law, and e carry 10% tax on gains from digital assets. Despite this, the government still dey ban cryptocurrency transactions for the country. This na di situation for where I dey live, and e dey cause confusion between the government and the people about Bitcoin and other crypto currencies. Abeg, if you get more information or data about investments for Nigeria, Nigeria gained investment in Bitcoin. How long this system go continue, nobody sabi because dem never give certificate wey talk say Bitcoin or crypto currency dey legal for Nigeria.

[leonair]

There are two to three reasons why Bitcoin is not valid in my country, but I think it should be adopted by our country.Some of the policymakers of our country are not accepting it, but many policymakers want to accept it again but cannot give them to grow.I am a Bangladeshi citizen I wanted to be allowed to use this coin in my country also not authorized directly but indirectly many organizations are using it in a third party but for us, it is Many obstacles.If bitcoin system launched in my country it is possible to make friendship with many countries like Russia using cryptocurrency under their ban, so they have survived many economic disasters has But if there is a lot of discussion about it, it might be allowed.This currency is completely banned in Bangladesh but can be transacted through some wallets like Bikash Wallet.
****There are no Bitcoin ATMs in Bangladesh, but they are added or supported by Binance.

Not only Bangladesh but several other countries Bitcoin is not considered as a legal currency till now.  Bitcoin's creator is so far anonymous that governments of various countries are afraid to consider Bitcoin as a legal currency and because of this Bitcoin has been declared illegal in many countries so far. They think that Bitcoin cannot be any real money.  But the way Bitcoin is increasing its popularity day by day, Bitcoin can be legalized in all countries in the future. Because even if its creator is untraceable, since it is fully decentralized, we all have control over it as long as we buy or mine bitcoins.

[Xxmodded]

Not only Bangladesh but several other countries Bitcoin is not considered as a legal currency till now.  Bitcoin's creator is so far anonymous that governments of various countries are afraid to consider Bitcoin as a legal currency and because of this Bitcoin has been declared illegal in many countries so far. They think that Bitcoin cannot be any real money.  But the way Bitcoin is increasing its popularity day by day, Bitcoin can be legalized in all countries in the future. Because even if its creator is untraceable, since it is fully decentralized, we all have control over it as long as we buy or mine bitcoins.

All countries around the world seems not legal bitcoin as payment currency transaction except El Savador and any small African countries make legal payment for bitcoin. The same in my country Bitcoin still illegal transaction currency but have legal for commodity assets as investment or trading assets. But have good respond with our government have cut off taxes for all bitcoin and cryptocurrency transaction trough local exchange market, I think any potential in the future bitcoin will adopt as payment legal currency transaction and change fiat payment to cryptocurrency payment.
Bitcoin have advantage when adopting as legal currency transaction, easily make payment with huge amount and transaction around the world not required waiting more longer time than fiat.

[itorai]

I live in a country where Bitcoin is not legalized yet. The government of our country has not taken any steps to legalize Bitcoin so far. I wonder why Bitcoin is not legal in our country where Bitcoin is legal in developed countries of the world. There are many crypto users in our country but they have no freedom. Bitcoin is freely exchanged in almost many of our Asian countries, like our neighboring country India.

The government of our country thinks that legalizing Bitcoin in our country may increase the possibility of money laundering to a great extent for which they have not taken any action yet. But the politicians of our country they launder money in many ways abroad maybe this can be a reason not to legalize Bitcoin.

Every citizen of our country, including me, who is involved with cryptocurrency and exchanges various cryptocurrency coins, dreams that one day Bitcoin will be legal in our country.

I think even so money laundering can still occur because the use of bitcoin in various countries that are still not legalized as you said can still access it. And I think this may be money laundering, even though the country's government argues that legalizing Bitcoin in its country can increase the possibility of money laundering. So in essence, even though bitcoin has not been legalized, it does not rule out the possibility of money laundering, it's just that by not legalizing bitcoin in the country at least the laundering is not that big.

[tbterryboy]

Bitcoin In my country is considered a scam/fraud services.I wonder why they still think and underestimate the digital currency.it is true that Only two countries in the world that believe Bitcoin to be a genuine legal tender. The first is El Salvador. The second is the Central African Republic. It adopted Bitcoin as a legal tender in the second quarter of 2022.The president, Nayib Bukele, announced that this decision was made to uplift people financially all over the country by making financial services more accessible to the public.

Even with all these achievement and successful remarks made about bitcoin,its adoption in my country seems to be slacking.Despite the mass adoption in my country,I believe that bitcoin lives in my country,there are many people who have legalized using bitcoin all by themselves.Bitcoin users and crypto enthusiast are existing.

Aw, that was sad to hear man, but there are really people like that who are not open-minded. They also said that only because they can't fully control Bitcoin. I think there are 3 countries who made BTC a legal tender. Let's just hope that in your country Bitcoin will soon be legal.

I think there is a chance for this, if we take a look on other countries who have been on the same situation. There is no way that mass adoption existed in your country yet. What more is that BTC didn't live there or in any other country because it is not a human being lol. Although maybe we can say that BTC lives in our heart because this is how special it is for us.