illegal Why Bitcoin is illegal in Asia?

[bentayebsalah 2280]

I see that the reason behind the prevention of cryptocurrencies in Asia because it is an obstacle to the governments and banks there and lose a lot because of this and also because of their inability to control it

[Fattkidd 1852]

Bitcoin and Cryptocurrency are being illegal because the goverment is afraid of value of cryptocurrency also goverment do not like cryptocurrency because they cannot control how cryptocurrency works which they think is very dangerous.

[Xsimple 441]

I think that it is not in whole Asia that bitcoin is illegal because I also live in Asia and in fact we have our own exchange and we can easily exchange bitcoin to our own currency.

[Ghulamabbas 35]

Bitcoin is illegal in Asia, Because bitcoins depends on it. Most countries in the Asia continent are economically week, that's why cryptocurrency is made illegal on the continent. 

[Fadimah 191]

Yes, that's the thing about bitcoin. People's need is what makes it high. Without people buying it, it won't rise and that is exactly what the government wants to do. So as to cripple crypto in general.

[Abiaan 1209]

it is said that first crypto currency i.e. Bitcoin was made in Japan , and most of the asian country is already accepting it but south asian countries because all of them are developing country and its not good for economy for south asian countries because most of them rely on remittance and taxs

[tienda 8776]

I think cryptocurrency or specially Bitcoin is illegal in any countries, still is not regularized and globally not adopted or accepted by many international organism, so if in Asia they use it as a black market of course there is the law that prohibit about.

[MCSGlegend 2210]

And I think that because there are a lot of people there if a lot of people start using it, the authorities will not be able to stop the spread of cryptocurrencies.

[AmjadBydn 0]

On 2/18/2020 at 1:10 PM, Niraiu said:

Bitcoin is illegal Asia because maximum country government thinks crypto can destroyed country economic. Hopefully one day every government accept bitcoin and other crypto currency. 

I am completely agree with you ! I think governments are making a war against the cryptocurrency users ! I dont know what is their point ! 

[AmjadBydn 0]

15 hours ago, jaguar229 said:

Руководство моей а не твоей державы говорит, что биткойн не имеет практически никакого категорического состояния, и отмывание дензнаков будет с легкостью в случае если они опустят криптовалюту, в том числе биткойн.

I cant understand russian brother .. If you can translate it could be better for us because its english section here 

 

17 minutes ago, xpertt said:

Not all country in Asia banned the use of bitcoin and it is not illegal like in my country, they are allowing us to use bitcoin whenever we want. But I think there are a lot of illegal transaction that is happening in other parts of Asia so I think it is fair to say that other countries in Asia banned the use of cryptocurrency because of its illegal use.

Yes you are saying right ! in my country they didnt say that its illegal !

[Soaib khan 1035]

I think government banned crypto currency because government can't control crypto or can't track crypto currency and maybe if crypto legalize banks face losses this is mane reason of government banned crypto.

[Mh joy 28]

In fact, it is very important for me to know.  Because I want to know about it.  If anyone knows, you must let me know.  In this case, I can share it with others and I think they will benefit from knowing it.

[Ali_hmwi 966]

First a heart went to you, second you know they are in countries that need alot to see the bright sight, also theie governments and other big business men or even women try to make the bitcoin away of them to stay able to control the people and people should stay against such thing.

[BTC Future 3946]

Mostly these governments are afraid of the financial freedom cryptocurrencies provide to their citizens. They don't want to lose the control they have with the centralized banking systems and fear they will lose power. Most of these governments that ban crypto are basically doing it to support their targets and not what will help their populations.

[Robot 93]

Actually asian country people think terrorist used bitcoin. For this reason Asian countries doesn't accept it. But bitcoin is very popular crypto currency

[Kijin 3]

As far as I think, the encrypted text was not accepted by the government and the government or any physical bank went out of control. That's why the government is taking action. And it is illegal for the whole country. In Asia, many countries do not support cryptography. Official G is also taking action for crypto. Thanks 

[rekter 8129]

On 2/18/2020 at 11:05 AM, 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 !

I don't think that governments want to protect us from cryptos. Of course they will say that's the reason but the real reason is that they want to control it and they can't. Only way to control it is trough fear and avoiding people to change it to fiat currency, making it harder for people to use it.

[Well Played 77]

Bitcoin are not totally banned in All country in Asia! 

And actually many countries support bitcoin like Phillipines and Singapore,  and as far as I know China are only hate bitcoin and crypto currency here in Asia maybe thiers other country but I don't know what is this 

[Kantaro1711 1]

The government does not receive income from taxes from cryptocurrencies and therefore it is not convenient to make them legal since money would be mobilized from which they have no count or income. For a simple interest in profits is that governments prohibit cryptocurrencies.

[Juanaespinoza 139]

because according to their vision bitcoin and cryptos in general not used for money laundering and that lends itself to scams. Those are the fundamentals that they use to refer to this prohibition.

[Dolpharius 675]

On 18.02.2020 at 17:05, 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 !

Thailand distinguished itself by first legalizing several cryptocurrencies for circulation inside the country and recently banned it - this is normal, just the next news for influencing the market - a little later everything will fall into place, this is such a game.

[suzuya 945]

I think bitcoin or cryptocurrency is not really illegal in all of the countries in asia, it's just kind of banned from some countries because as far as I know there are lot of asian countries that is participating in crypto activities. And I think the reason why it's getting banned is because they fear that they can not control the money of people anymore.

[Raqeebzy 6456]

While Bitcoin is welcomed in many parts of the world, a few countries are wary because of its volatility, decentralized nature, perceived threat to current monetary systems, and links to illicit activities like drug trafficking and money laundering. Some nations have outright banned the digital currency, while others have tried to cut off any support from the banking and financial system essential for its trading and use. 

[Nezar 7169]

My friend is an unlawful bitcoin coin in various countries of the world. This is due to the fact that some people use the currency to buy what is legal, such as drugs and weapons from dark websites and also because terrorism was supported by using this currency.

[BitcryptoHan 2557]

Because Asians want to make illegal. There is nothing bad using bitcoin but just to regulate it. But Asians makes it there enemies.