illegal Why Bitcoin is illegal in Asia?

[avatarkiyoshi 270]

Actually not all asian country makes Bitcoin illegal, there are a Japan that full of support to Bitcoin. The reason why Bitcoin makes illegal in some country is because the government full of corruptor that can earn taxes from cryptocurrency payment.

[kingsbtc 910]

Personally l see no reason why government should banned crypto currency in any country because we are not using their money to invest

[Shakil123 3]

Bitcoin legitimizes if the currency of their country declines.
Legal in Asia because their government doesn't want them to....

[Elis Raph 67]

So many illegal transactions are made using crypto currency, heard of the black web right, I think that's one of the reasons..

[Nurul Huda 944]

8 minutes ago, Alamin78 said:

Many countries do not have consistent laws regulating Bitcoin. It is regulated in most countries, and some have banned ...

Yes, your statement is even there are some countries that can only formalize bitcoin because they know about bitcoin that can benefit their country, so accept bitcoin as a transaction tool and there are still many countries that cannot accept it because most likely they are not so sure and trust in bitcoin that their country prohibits it.

[Hanuman 253]

I think bitcoin is not illegal in asia,but it just banded from asia.

When ever bitcoin price in digital market less then some members are buy this in low cost.

And they are keep that coin in stuck.

Thea a time comes there bitcoil will be less and for that stuck inside market bitcoin price will increase.

Then the stuck members are sell that bitcoin to other Continent with high price. And here our Continent face economical problem.

So for it is banded from asia.

[Ridoan99 18]

This is why a company can self-regulate in the digital marketplace Nacht Coin Asia is illegal Bitcoin is a criminal in Asia because many companies nearby denied Crypto and then refused because they were from digital currencyCannot request text

[Shobnom190 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.

[Beeba 240]

Yes buddy crypto is banned in Asia but in my opinion it is banned due to decentralized based design. In my opinion if crypto is centralized based design then it is easily accepted in Asia region.

No doubt that your opinion is value-able.

[Vivek1997 437]

This was really useful information posted by you brother. Thank you for posting this useful information. But because of many scams happening using bitcoins, also inhibiting it's growth into Asia. But still there are many users using bitcoins in Asia even look myself in from Asia and I'm holding cryptocurrency like bitcoins.

[Agios 1763]

Thanks for sharing Bitcoin is illegal in Asia, I think times have changed, many countries in Asia are starting to accept Bitcoin and Cryptocurrency only as investment and trade commodities but many countries have accepted Bitcoin as a medium of exchange such as Japan, Singapore, Hong Kong, South Korea, Malasia, Philippine, Thailand, Iran etc.

[Nilema 16]

sorry i do not know about this topics ,i hope the seniors are will help you about this question.i have also curisity about this question.i hope,i will learn about it from this platform.

[Zaino34 0]

The reason for this is that governments fear their economies and currencies from collapsing. If digital currencies are used, the local currencies of countries in that region will be stopped.

So governments always fight cryptocurrencies

[pakjobhelp 1585]

Yes boss this is illegal due to its special feature that it is not trace-able and no one country its origin and it is more flexible. Boss i agree with you that one day it is accept every country because all developed country work with crypto and we see that only under-developed refuse to accept its.

[kadayakito 765]

I think that some countries in Asia ban bitcoin because of a lot of problems that we cannot explain, maybe because of fear of not being able to control bitcoin, or the way people view bitcoin is not good, or afraid of threats. to the economy ....

[Mifu 5]

In Asia  Bitcoin is illegal . As it is a digital currency . You can not  touch it .in some countries you can not make payment with it

[tarekm00 1]

Bitcoinif Cryptocurrency apply then nobody will pay taxes, is illegal in South Asian countries because governments think it is bad for us, governments lack of information.The government should take action and that is illegal for the whole country.....

 

Bitcoin is unlawful in South Asian nations since governments think it is awful for us, in the event that cryptocurrency apply, at that point no one will make good on charges, governments absence of data. I think there are more explanation, so south Asia nations made cryptotalk illicit......

 

[Migo 7946]

Bitcoin is like a threat to them, this is their opinion about bitcoin, and this is why they didn't accept it yet, and there is many other reasons too, and what you said is true too, but I think they will cancel this decision and they will adopt bitcoin soon or later because in the current time there is 8 countries who they accepted Bitcoin and usa and Germany is one of them, so powerful countries like those will inspire the others to do the same 

[Gg233 1061]

Most of the country in Asia is developing country and they are not really interested in bitcoin or crypto because it need a lot of funding and it has a high risk for them.

[Goody28 259]

On 2/18/2020 at 10:05 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 !

Dear mate I do admire your sense of speech here  I think you have listed the typical reasons why Asia don't accept the use of bitcoins in their country well it's  a well known fact that most countries see bitcoins as an illegal electronic technology that why they refuse to accept it use in their country 

[wanqc 8]

because some people in Asia believe that bitcoin is haram and a lot of fraud

[Jokeer 648]

There is a lot of reasons to illegal in Asian countries such as Bitcoin is decentralized which means they didn't control it for that they can't get tax from it then they can track the transition so it's hard to track that which purpose people use it.

[Joni007 46]

I Think, the Bitcoin in Asia and a few international locations inside the center East is illegal and the purpose for that is due to the fact if humans use bitcoin greatly, the value of their paper foreign money will lower very notably due to the fact Asia is the primary economic region within the international and in the event that they permit traders to use bitcoin they will not be capable of manipulating their money.

[Sapdrx 469]

3 minutes ago, Onik95 said:

It is a misconception that Bitcoin Asia is illegal where Japan Indonesia thinkers will use Bitcoin as being blocked. We can use Bitcoin as a key to development.Their government wants another currency.  He wants their currency to stay in good shape.

In countries like Japan and South Korea which are Asian countries crypto is blooming so I’m not sure what you are talking about. Maybe in some countries governments are afraid that money will flow out of the local currencies. 

[gigabyteRTX 1583]

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.