illegal Why Bitcoin is illegal in Asia?

[AmjadBydn 0]

Why Bitcoin is illegal in Asia ? 
in my opinion, why some country in asia was banned to use bitcoin : because bitcoin is electronic data. Thus, it’s not considered a currency and can’t be used for payments, and is not considered legal tender like money. With no self worth, the value of such data varies based on the needs of the market. Bitcoin changes in value very quickly and it could became something of no value if none desired it.
Effectively, bitcoin is just electronic data with no intrinsic value, and its value rises or falls depending upon the whims of the market. Furthermore, consumers' legal recourse will be severely limited in the case of any claims over coins stolen or sent to the wrong wallet, or over goods purchased with bitcoin but not received.
for example bitcoin illegal  some asia country is thailand, Over the past nine months, the illegal status of cryptocurrencies in Thailand has been an issue of great confusion but bank of Thailand just Suggests Bitcoin Not Illegal But Warns Against its Use.

What about your Idea ! tell us about it !

[Uttom Deb 333]

Bitcoin is legal in Asia because their government does not want them to validate Bitcoin if they give it legitimacy, then their country's currency value will decline.

[Jeet Narayan 1940]

Bitcoin is illegal in South Asian countries because governments think it is bad for us, if Cryptocurrency apply then nobody will pay taxes, governments lack of information. I think there are more reason, so south Asia countries made crypto illegal.

[AmjadBydn 0]

22 minutes ago, Himu Ahmed said:

in asia, Many country doesn't support Crypto.Government also take action for crypto, Because Crypto doesn't get tex Government, And out of government or any Physical bank control. That's why Government take action for this. And aslo illegal for whole country.. 

I am Syrian ! but until now my country is planning to create its cryptocurrency ! its called " Lira " ! I think this is a good news for syrian people !

[miskyming 1588]

Not all Asian countries ban bitcoin just like our country the government is accepted cryptocurrency so your information is not really accurate.

[Rahul21 626]

There are several reasons why Bitcoin is banned in many Asian countries.  There is a lot of difficulty in managing bitcoin as it is very difficult to meet its deficiencies so I think that may cause various problems with Bitcoin which is why Bitcoin is banned in Asia.  Therefore, there is a long need for Asia to accept Bitcoin legally.

[Murshalin 10]

 

I'm new to CryptoTalk though. I live in bangladesh I did not know why other currencies including Bitcoin are considered illegal in Bangladesh. Today I am somewhat clear why it is considered illegal in other countries including Bangladesh. I feel very happy to know this.

[Sourovdeb890 416]

Most countries in the Asia continent are economically weak, which is why cryptocurrency is made illegal on the continent, there is a possibility that countries on the continent may face many dangers;  That is why Bitcoin and the continent of Asia are being called illegal.

[Umm-e-Ammara 5]

Bitcoin is a digital  currency and used in whole world or pakistan is also used network marketing so bitcoin is not illegal in asia.

[Nexgen 3]

Bitcoin is not fully legal in any country in the world. Let alone ASIA. The market of crypto currency is very silly. It is also highly manipulated by the underworld governance. Anybody can transfer a huge amount of money from one country to another just for free and fooling the governments in a twinkling of an eye. And thus government may lose a huge amount of tax money and it will fall an adverse affects on the total national economy of that country. So how governments can legalise bitcoin?

[Liki456789 11]

In my country don't allow to bitcoin deals my government said two reasons is the major reason for illegal is bitcoin first is non Tex payer second is that currency mostly use in  illegal activities

[Afrizal rahman 2636]

My country is part of Asia but my country does not prohibit Crypto, nor are there any words to use Crypto, this means that my country is free from anyone who wants to use it. It's just that in my country there is still no Bitcoin ATM.

[MuhammadSh 3067]

South Asian countries are against this crypto currencies ! in my opinion.. they want to create their own currencies and not to depend on bitcoin or other currencies like it..

[maxiway 44]

I think that yes, the government is very psychopath there, they should change that, even though I don't know why they ban it, if they should use it more, because they are one of the countries with the largest number of people.

[Hendy1 370]

I think not all Asian countries consider that bitcoin is illegal, if we look at the role of Japan and China which have a large role in bitcoin because it has many users who do business in bitcoin, and actually the legality of bitcoin is determined by the policies of each country's government.

[Farzana Afrin Mahfuza 3]

1 hour ago, Rahul21 said:

 

There are several reasons why Bitcoin is banned in many Asian countries.

59 minutes ago, gayatri said:

 

Bitcoin is not illegal in all countries in Asia. It is illegal only in some countries

 

 

 

[ArsalMajeed 178]

Yes your question worth an answer. The reason s that the US authorities force asun countries to regulize it by using forums like FATF

 

[sdsonjoy50 886]

Blackmoney and money laundering, which is why Bitcoin is called Illegal in the countries of the continent of Asia, and these coins are not legitimately recognized, I think if cryptocurrency can be introduced by bringing Bitcoin under a law and negotiating with the central bank.  Will use.

[Murshalin 10]

1 hour ago, AbdulRehman0342 said:

In Asia, most countries do not support crypto. The government is also taking steps for crypto because crypto texs are out of government, and government or any physical bank control. Therefore, the government should take action. And that is illegal for the whole country.

There are many other websites in Asia such as crypto that the government does not allow. Because the currency income from those websites is not circulated in Asian banks. These countries think that these coins are likely to be lost. But looking at the present world, it will be seen from these websites that the government is improving its country.

[deepown 0]

2 minutes ago, Pranto79 said:

Why is my Bitcoin inllegal in Asia. Their is a government wanted another currency.  He is wants their currency to stay in good a shape.

 

Crypto currency is not illegal in most of Asian countries you I think you were misinformed.

[Masud17341 5]

Each currency has its own course, each currency is different in its use, in which case Dogecoin I see it as a crypto of low commission transactions, to be able to transmit and receive low costs.

[deepown 0]

6 minutes ago, Behzad Zafar said:

What is the use of making predictions? It is pure speculation, many say that by 2020 the BTC will be worth 6 figures and many others said that by this time we would be in 20k again, so go to know, I do not believe in predictions anymore.

Some does predictions just for fun, while others makes predictions to make people panic.

[Romaan1987 601]

2 hours ago, AmjadBydn said:

Why Bitcoin is illegal in Asia ? 
in my opinion, why some country in asia was banned to use bitcoin : because bitcoin is electronic data. Thus, it’s not considered a currency and can’t be used for payments, and is not considered legal tender like money. With no self worth, the value of such data varies based on the needs of the market. Bitcoin changes in value very quickly and it could became something of no value if none desired it.
Effectively, bitcoin is just electronic data with no intrinsic value, and its value rises or falls depending upon the whims of the market. Furthermore, consumers' legal recourse will be severely limited in the case of any claims over coins stolen or sent to the wrong wallet, or over goods purchased with bitcoin but not received.
for example bitcoin illegal  some asia country is thailand, Over the past nine months, the illegal status of cryptocurrencies in Thailand has been an issue of great confusion but bank of Thailand just Suggests Bitcoin Not Illegal But Warns Against its Use.

What about your Idea ! tell us about it !

Same happens with our country that government have banned the bitcoin first but after that there is now law found against using crypto currencies and state bank warn to use the crypto currencies and warn also not to support the cases of crypto currencies.

[Yanadia 1517]

In my opinion this is just a matter of the Elders who find it difficult to accept changes that are somewhat surprising to them.  To be honest, I just think that the government's rejection is still based on political matters, so they will continue to look for reasons and lack of Bitcoin for regulation, especially as Asia is known for its Old Indigenous knowledge better than the young.(Beyond scientific reasons also the security that is heralded)

[Lunaa 238]

Not only in Asia, though. A lot of other countries outside of Asia doesn't really support bitcoin too. So, I think no need to be surprise to see a lot of countries doesn't like them. It's still because they still cannot trust bitcoin, due to its legitimate and volatility and many other things.