illegal Why Bitcoin is illegal in Asia?

[zhoutong 2188]

Asia has some strict governments and political systems so some of them see cryptocurrency as a threat. Bitcoin is banned in many countries but we see changes in some of them. India is thinking about it again and has removed the ban for almost a year. But the south east Asia is still very strict following China.

[Yoanny 232]

In my opinion it is because it is a decentralized and quite anonymous currency that central banks and governments cannot control your resources. That obviously scares a lot of governments. Crypto active  is neither bad nor good, it's just a tool to achieve objectives, it depends on each person's use of it.

[P A Ashif 2409]

There are various reasons that Bitcoin is banned in many countries. The first of the reason I see is that crypto is decentralized and no government like this. Then many countries don't have strong cyber force. And crypto is place where lots of hackers and scammers are residing. So in order to protect the people some countries don't allow its usage.

[Ndayebo8 0]

Well not all country in the Asia treat using of cryptocurrency illegal well maybe there is some countries but not all, for example in the Philippines they don't treat crypto as illegal nor legal it is because the usage and awareness of the citizen there is not that much and lots of them don't totally know about what it is.

[hasaan 289]

The reason behind  the legalization in the most Asian country is the fear to be get money laundering. The under development country is the main victim for this type of transaction. The people are always look for the way to set their money to the abroad and they must misuse the technology. 

[Izeal 4404]

I think bitcoin is not for everyone because most of Asian countries are developing and there will be more risk by accepting bitcoin as the payment option. Many African countries has already accepted bitcoin payment system but we can't see them grow but rather illegal trades are increasing more and more.

If you think the governments of the Asian countries are not thinking about the cryptocurrencies then you are wrong because even they want to bring but their country can handle those big transaction and many other problems like money laundering and imposing tax.

[khan22 3478]

Asian peoples will invest their money in the market and they buy the scam coin and they lost their money in it. Crypto market is the best and great market in the world and if you invest in the scam you make loss but if you invest in a good project you make good money in this business. That the reason that crypto is almost ban in the Asian countries becasue of scam.

[Guru2050 8284]

Illegal of bitcoin and the entire system of crypto currency greatly depends on how the government of that particular region, country perceive, view and understand the crypto currency system, then come to terms and work out modalities, put measures in place then adopt and implement the use of the system by official declaration. So we hope in future the government will be able to figure out the significant and viable role of crypto currency to the globe

[MoralStories 1127]

So even if you use the BTC or cryptocurrency as commodity there is still chances of it to be accepted but the Asia is not accepting it just because it can be used to do illegal transactions

[mzk7736 1592]

Bitcoin is not illegal but it only requires validation from local governments. The reason behind no validation so far is that it's electronic presence will make it difficult for government to manage it.

[Nicole018 4548]

This is a huge cause of concern that Bitcoins are still illegal in many countries. there is a need for different nations to start accepting the importance and value of cryptocurrencies as they have good potential future possibilities. With the current demand for Bitcoins in the coming years we can expect major reforms in the legal norms of Bitcoins in many countries.

[RoyalHouse01 9]

you can not say that it is just some data it is been used for the payment and as comodity too so it can be used for the money transection that is why it is been banned from many countries.

[mohamedpc1 2213]

Most of the platforms that rely on trading in digital currencies are from China and Asia, so I do not think that digital currencies are prohibited in Asia, but it is possible that it is forbidden to deal in the shops in the country. This is my opinion on this subject..
 

[KHALED ADWANI 1216]

In my opinion, placing the warning is much better than the complete ban on cryptocurrencies.

You then say I warned you about the matter. It is just a trick.

You can do whatever you want, but you will be fully responsible if you lose your money or be defrauded, and this is how the government stands in the middle between preventing and allowing

[Froshk 1828]

On 12/14/2020 at 2:22 PM, Nicole018 said:

This is a huge cause of concern that Bitcoins are still illegal in many countries. there is a need for different nations to start accepting the importance and value of cryptocurrencies as they have good potential future possibilities. With the current demand for Bitcoins in the coming years we can expect major reforms in the legal norms of Bitcoins in many countries.

Well many Asian countries believe that by legalizing cryptocurrencies, they are probably selling part of the franchise to a foreign country, Unknown to them that bitcoin or most cryptocurrencies are not regionally based, they are world wide Network 

[Zafar123 906]

Bitcoin is illegal in Asia or Asian countries, I think that whatever reason a country gives for banning crypto, it mostly about maintaining control of its own financial system. ... Many countries that ban this technology have a history of not letting their own currency be traded on the free market.

[Teminali69 1081]

Not all of Asia takes bitcoin as illegal, there are counties including India and Korea which has legalized cryptocurrencies, but in general the reason many countries does not want to deal with crypto is because they can not control it.

[yato987 2811]

well i don't agree with this because if it was that easy to control the price of any cryptocurrencies you wouldn't see that huge numbers of people investing their money on crypto , in case the risk was very huge then no one would risk lots of his balance even if profit could reach a huge numbers because the same is for loss and dealing with money is not a game , so if you lost your money it's gone with no return

[Serbberq 724]

There are many country not only Asia that have banned using cryptocurrency, and their reason all is that cryptocurrency is a decentralized coin that they can have control over it, but we hope they should see the blood part of cryptocurrency and legalise it for transactions within and across bothers without any restrictions. 

[abohasnn9 2401]

My friend, perhaps the only centralization of cryptocurrencies is the reason why the countries of Asia are very afraid of buying cryptocurrencies and losing money and then suddenly their money is stolen and the region’s economy is destroyed because of the cryptocurrencies.  Its will make it fluctuate high only so I advise all countries to create their own cryptocurrencies thanks

[yonkii 3205]

I checked some countries and found that bitcoin is illegal in many Asian countries but some of them are reconsidering and India has already removed the ban. Russia also took some steps to make bitcoin legal and some more countries are considering to remove their ban. I hope so because Asia is a fast growing continent and will be the center of world economy in the next decades.

[Maaz sultan 265]

Generally the countries of Asia is in the process of development and the governments want to not let their money go to other country as its effects their currency value , So that decides to stop investing on this field .

[Farukatie 1271]

Yes there are many Asian countries where Bitcoin or other cryptocurrencies are banned and because of it that there is a less knowledge of digital system and less knowledge of technology in these areas and their things that it is just a scam and people will use their money that's why the governments banned cryptocurrency in their countries.

[Choudhary umer 0]

I want to tell you about the reason why the Bitcoin is is illegal in the Asian countries because there are developing countries in the Asia if they legal Bitcoin in his country the value of the national currency in his country are going down but I saw that in this time the some countries is accepting the Bitcoin

[Yuri Nurov 227]

Asia not accepting bitcoin is purely political, been it that its not a legal tender or it might made there currency value to decline all are political reason