illegal Why Bitcoin is illegal in Asia?

[income20 56]

Many countries ban bitcoin currency as it will effect  in bank. This digital currency doesn't help  of improvement of bank in Asia. So, in Asia, it is illegal as a digital currency.   

[iloveyobit 6599]

Not only in Asia, there are many countries in the world that prohibit trading Bitcoin. The United States is an example trying to combat it with all available methods, and this is not a new thing.

[Interface User 1070]

I guess some countries still not ready to the existence of crypto currency because of some traditional payment system. Also some countries have a low technological literacy so I guess they doesn't care too much in its existence.

[Neymer jr 19]

Most Asian countries do not have enough ideas about Bitcoin.  They do not know how profitable Bitcoin is.  That is why they do not validate bitcoin.  So in my opinion they should know very well about bitcoin and its profits.

[Maraj Prodhan 9]

Actually I am a newbies in this forum. For this reason I don't have enough knowledge about this matter. And some terrorist used Bitcoin. For this reason I think Bitcoin is illegal

[Tamim 123 129]

Actually I don't know that Bitcoin is illegal in Asian countries. If it is true then I think this is not proper decision to boost up economic development to these countries in such a modern world. 

[babaji 1228]

On 2/18/2020 at 2:35 PM, AmjadBydn said:

Why Bitcoin is illegal in Asia ? 

I don't know about Asia, but I do know about India, since I live here. Till a week ago, no banks would deal with crypto, because the Reserve Bank of India, had banned all banks from dealing with crypto, but last week, that was overturned by the Supreme Court of India, and this marks a new beginning in the life of crypto in India. Now it will much easier to buy crypto and hold or sell or trade. Hopefully Asia will also do the same. 

[AmjadBydn 0]

On 3/6/2020 at 8:02 AM, tithi5657 said:

I have no idea why Bitcoin is illegal in Asia.  Because crypto I am a newcomer.  So I can't say anything about that.

its not a problem my friend , You can see the comments here there are a lot of good opinions ! if you want my opinion I think because its effect on other countries economy .

[Karani 99]

In my opinion, cryptocurrency is illegal in these countries because the government cannot monitor it like fiat currency. By criminalizing Bitcoin, governments feel they are still in control.

[Lover840 0]

Hello my dear friend. In my opinion it is banned in many countries because the government of any country can't have any control over the crypto currency. 

[Sojib77 8]

I personally think bitcoin should not be made illegal in Asia because many countries in Asia are using bitcoin as we look at Singaporr and japan. 

[Whited35 15285]

Most Asian countries are still feeling the doubts for the crypto currency. This technology needs the professional marketing and the technical experts to handle everything correctly. In Asian countries, I think governments are afraid of the criminals and they want to minimize the risks of illegal money laundering by banning crypto. 

[duncun007 3577]

3 minutes ago, CryptoVicky said:

Most of the Asian countries bans crypto specially Bitcoin as they don't want to loose control from centralize finance 1.0. They are in fear and try to ban crypto any how and try to declare crypto is danger and illegal.

i think if there are any countries that will be crypto friendly it will be those asian countries after the ban is now being lifted from india i hope they start buying it hard.

[Jessica Karren 1242]

Because so far the Asian countries doesn't understands this technology properly. Due to lack of knowledge they consider it a bad thing. And there are many other important issues for governments to handle so crypto technology has on their lowest priority.

[CryptoMaxim 3829]

It may be illegal in Asia, but it does not prevent anyone from doing and mining coins there. Illegal in their understanding, that is, not officially accepted.

[bliznec 22267]

Because it’s not the time for Bitcoin to be legalized in Asia. This suggests that it takes time for Bitcoin to be legalized. Especially, this is taken into account in Asian countries. 

[deepown 0]

18 hours ago, BlastBlast said:

Some country in asia was banned to use bitcoin because bitcоin is electronic data. Thus it’s not considered a currency and can’t be used fоr payments and is not considered legal tender like money. With no self worth, the value of such data varies based оn the needs of the market

This is a whole world matter not just Asia, then question i want to ask, why do you people think it is only in Asia or it is more in Asia, is it because of china?

Edited March 13, 2020 by deepown

[Ridam 7455]

Because many Asians country are really backwards in the field of technology and Crypto currency is not well known clearly. And if we talk about the government leaders the corruption rate is high and they are uneducated leaders ( not in all but in some country) so they don't care and want Crypto currency.

[Mwangi 5611]

Bitcoin is not illegal in Asia but there are countries that basically dont allow it  ,,especially countries that fear freedom, the best thing to think of is to work as hard and still use it in the different ways that we see around the best effort is to really still define what we are doing here, the work we do with bitcoin, some of those who really fear control will be really fast to control it, like China.

[PiroSense 2681]

On 2/18/2020 at 5:05 PM, AmjadBydn said:

Bitcoin Not Illegal But Warns Against its Use.

Bitcoin is not illegal, hence people could hold it, but it is discouraged to deal with mainly because: 1) it is decentralized, which makes it volatile, and 2) the market is unregulated, and scams are difficult to trace and is everywhere.

[Yunusalemu 0]

I am guessing it is because they have no control over the flow of crypto currency, and since they are unable to regulate or take charge of crypto related activities, they simply ban it to disencourage people from going into it. 

[Ms.o 3322]

Being decentralized and can be used in many crimes bitcoin are being prohibited in most country. They are just preventing this case to be worst as crimes are growing day by day in many countries.

[AmjadBydn 0]

On 3/13/2020 at 5:20 PM, Shahrukh hassan Sourov said:

We talk about government leaders having high rates of corruption and they are uneducated leaders (in some countries) but they do not know and want crypto currency. Because many Asian countries are really behind on technology and cryptocurrencies are clearly not known

Yes that's right bro !
I think that the crypto currency will effect negative on our country currency ! 
but what about if our country make it's crypto currency !? I think this would be amazing !

[malik6314193 5449]

Yes i agree with you and one of main reason is that bitcoin is not controlled by any government so asia country are little bit confused to accept it. 

[Ayush Singh 1175]

It depends upon the countries that they are giving legal permission to the Cryptocurrencies or not because there are some countries which restricts the use of Cryptocurrency in their countries because the legal use will decline the value of the nation currencies.