Crypto in your Country

[cryptosix 1643]

I am from India and got Tired from the rules as they are not educated to regulate Crypto and the Banks are being looted by the Politicians. I don't have any hopes that they will soon regulate the Crypto or Ban, but they keep on holding the case.

How about in your country?

[Consignee 2395]

In my country, it's totally illegal. Anyone using cryptocurrency will be sentenced to jail as well as some fine but people still use it various purpose like investments, paying service fee etc. I think our govt is also thinking of legal it with some regulation.

[xBDT Script 4371]

8 hours ago, cryptosix said:

How about in your country?

I have dual citizenship. The country I born and brought up does not have yet any stand for Bitcoin but the country where I got citizenship from working there and staying for long time they are the heaven for Cryptocurrecny 😊

So, I have the taste of both LOL

3 hours ago, Consignee said:

I think our govt is also thinking of legal it with some regulation.

Eventually every country will need to embrace cryptocurrency.

Edited October 2, 2019 by xBDT Script

[d3nz 88]

As far i as i know, Cryptocurrency is legal in my country since we can use it to pay for bills, online transaction (local), and restaurants that accept it. Some people here using crypto to scam people that's why only few people knows it here and they lack of knowledge on knowing how it is good and decentralized and no hassle at all.

[cryptokram 102]

Here in my country there is no regulation or banning for cryptocurrency.

Actually SEC approve many exchanges and cryptowallet like COINS.PH

We also have a successful SOLD-OUT project before which is LOYALCOIN.

So i can tell, everything is good here!

[Consignee 2395]

25 minutes ago, cryptokram said:

So i can tell, everything is good here!

You are certainly living in a crypto friendly country, we are having a lot of trouble. Due to the ban, we have to search for face 2 face deal to exchange crypto to local currency. That's a pain to be honest.

[Glossy 615]

In my country it is legal but not regulated. I guess it will regulate it in some near future.

There are some crypto ATM-s and companies that trade with cryptocurrency.

[1millionClub 494]

The adoption is slow here but the demand is quite high because of the shitty local currency. It is kinda being treated as a safe haven just like the US Dollar which is fine I think. And yes it is legal. No bans.

Edited October 2, 2019 by 1millionClub

[cryptokram 102]

1 minute ago, Glossy said:

In my country it is legal but not regulated. I guess it will regulate it in some near future.

There are some crypto ATM-s and companies that trade with cryptocurrency.

Even here in my country there are ATM for BITCOIN.

But only few and you can count then on your hands.

But what is great si we have CEZA here with the help of XEM.

We are also getting more advance in using it, we can use some crypto currency in paying bills.

[cryptosix 1643]

6 hours ago, Consignee said:

In my country, it's totally illegal. Anyone using cryptocurrency will be sentenced to jail as well as some fine but people still use it various purpose like investments, paying service fee etc. I think our govt is also thinking of legal it with some regulation.

Most Govts are afraid in the taxes and illegal use, but here in our Country the politicians are the foremost scams. Still the case is running in Supreme Court and the delay is going on with them.

10 years in Jail if anyone use Cryptocurrency in India, but still this type of restriction didn't came.  So many exchanges are closed their offices and relaxed without works including youth.

[cryptosix 1643]

4 minutes ago, robelneo said:

We're lucky that our country is very open about the technology behind Cryptocurrency, we have at least 5 exchange operating here and some ATM but it'[s not really very popular yet here in our country, but our country is very much ready for it's massive adoption, when the time comes.

Which country do you belong? It's good to hear you have some rights to use without any fear in the future. Our Govt is under worse political leaders who killed Economy and we don't have anything to survive in the future.

Here too went for an ATM, I think it was in Bangalore, but not sure, however these Govt do what they want and according to their wishes.

Here People lost so many jobs within last 2 years and it is in all sectors including GOVT or Private.

[cryptosix 1643]

2 minutes ago, robelneo said:

Philippines We are one of the most active people in the Cryptocurrency community, so many bounty hunters and forum posters are Filipinos,we made this activity as a good alternative to our job, I'm glad I live in this part of the world it makes things easy if you are a Cryptocurrency supporter.

Hi nice to hear that you are from Philippines and Ive had 2 to 3 friends from your country in the past also they told your Govt is too stupid for accepting Bribes. Most of people from your country works online as a freelancer and make good amount of money.

Do you have direct exchanges to your local currency in your country? we all are from Asia tier 4 world country.

[cryptosix 1643]

20 minutes ago, robelneo said:

yes we do have that in fact I'm paying all my bills and insurance using our own exchanges and we can exchange our Cryptocurrency in just one hour or even less we have 20 or even more ways to trade our Crypto to our local currency go check coins.ph and Abra, these two are the most popular here.

It's good to hear a lot of things had changed from the past and I am thinking you all are using crypto than paypal because of their fee and restrictions

What rate you get per $1 from Crypto

same with Paypal to your currency.

[cryptosix 1643]

3 minutes ago, robelneo said:

It depends on the local price of Crypto at their sell order, prices are changing depending on the current market price, we are currently trading 4 Cryptos in our popular local exchanges Bitcoin, Ethereum, Bitcoincash, Ripple 

You didnt get understood what I said, and  yeah may be for Bitcoin.

Hope this time you will get understood.

If you have

$50 in BTC

$50 in ETH

$50 in Paypal.

How much you get in local currency for each one.

I used to sell BTC for a local person, but still it has a good rate than paypal.

[magical956 40]

On 10/2/2019 at 12:54 PM, cryptosix said:

I am from India and got Tired from the rules as they are not educated to regulate Crypto and the Banks are being looted by the Politicians. I don't have any hopes that they will soon regulate the Crypto or Ban, but they keep on holding the case.

How about in your country?

If that's the case on your country, you can't do anything about it. They have their own mere interest about it so that's why they could pass or ban it anytime they want.

 

So far in my country, I have no issues and we're all free to use, buy and sell bitcoin and other crypto's. The adoption here is getting massive.

[cryptosix 1643]

2 hours ago, magical956 said:

If that's the case on your country, you can't do anything about it. They have their own mere interest about it so that's why they could pass or ban it anytime they want.

 

So far in my country, I have no issues and we're all free to use, buy and sell bitcoin and other crypto's. The adoption here is getting massive.

Great to hear for every country, only India is making nonsense in everything. Yes we are unable to do anything because of normal people. A lot of people here are interested in Crypto and waiting a positive sign from the Govt from years.

[magical956 40]

14 hours ago, cryptosix said:

Great to hear for every country, only India is making nonsense in everything. Yes we are unable to do anything because of normal people. A lot of people here are interested in Crypto and waiting a positive sign from the Govt from years.

So it's real that in India crypto is really struggling and being banned by the government? Do you have a way to track down the progress on how your gov't is working for their decision if they will put a ban hammer to crypto permanently?

[Bills 583]

In my country they do not dare to regulate it, because it is a total chaos, but when they prohibit things, it is like an incentive to not follow the rules, and more when it comes to money, this is Crypto! Everything is possible, the only thing is that now they are taking many regulations and want to control everything, I think that privacy and anonymity will be a very quoted topic in the future.

[Bills 583]

5 minutes ago, Hmo0tah said:

In my country it is illegal I don’t know why and god knows how much it was hard on me to find a website who accept my verification documents to buy BTC, and they accepted the documents after I photoshopped them. 😂😂

 

 

I think that in the near future, all these prohibitions will cease, it makes no sense for a country to go against imminent progress, they simply cannot go against the tide. Many countries have already lifted some prohibitions, but with rules and some regulations, but I believe that regulations should not be accepted, because the principle of this is decentralization and non-participation of third parties.

[cryptosix 1643]

3 hours ago, magical956 said:

So it's real that in India crypto is really struggling and being banned by the government? Do you have a way to track down the progress on how your gov't is working for their decision if they will put a ban hammer to crypto permanently?

They are not banning as per their last status, but they keep on postponing and it is in final stages to review. On Twitter we can find what's happening in the court. Crypto kanoon will post on Twitter and another supporter Nischal (wazirx) who keeps with updated.

We all are waiting for the final judgment as RBI keeps all false things in the court and say it is a PONZI.

[Consignee 2395]

2 hours ago, cryptosix said:

We all are waiting for the final judgment as RBI keeps all false things in the court and say it is a PONZI.

There are some green signals for crypto in India. I have read an article in bitcointalk, sharing some of the part of this, you may enjoy reading this.

Source- https://bitcointalk.org/index.php?topic=5181976.msg52370847#msg52370847

Quote

 

However, I will make a brief gist on the points made in the report related to blockchain and cryptocurrencies below -

• Distributed Ledger Technology(DLT) has been considered as a revolutionary emerging technology which offers agility, efficiency and accuracy.
• Blockchain Technology has the potential to improve KYC and AML systems, increase standardization and updation of KYC information, and reduce the costs of completing and maintaining KYC information.
• DLT has potential applications beyond the realm of cryptocurrencies and is being explored to facilitate tamper-proof, decentralized records of flow of commodities and assets across a supply chain, digital identity systems and cross-border payments/remittances.
• Blockchain solution in cross-border payments will include the following features
  • Exclusion of intermediaries
  • No need for central banks to ensure intraday liquidity
  • Elimination of data modification to maintain an immutable audit trail
  • Will address data protection and privacy concerns
  • Immediate updation of transaction trail.

• Use of digital tokens resolve the issue of multiple currencies, improves liquidity and capital compliance costs, allows for micro-payments and expedites the payment process, which further eliminates liquidity risks.
• In settlement of securities, blockchain will help avoid intermediaries, trace immutable securities records and transactions, provide a transparent ledger of transactions and automated servicing of securities to parties,
• In Trade Finance, Blockchain avoids falsified receivables and multiple invoices secured against the same collateral due to its transparency and security.
• The regulation of coins or tokens depend on the characteristics and the purpose for which they are being issued. Depending on the objective of issue, tokens can be grouped into two categories:
  • Utility tokens: Utility tokens entitle future access to a company’s product or service. These utility tokens can be understood as digital coupons for the service it is developing
  • Security tokens:  Some issuance of digital tokens has the attribute of a security (Referencing the US SEC vs Howey Guidelines) ie. Digital tokens are treated as security when -  there is an investment of money, there is an expectation of profits, the investment of money is in a common enterprise & Any profit comes from the efforts of a promoter or third party.

 

• •  

[BitcoinCase 326]

America is where I dwell and so far only the IRS and SEC are interested in what we do here in regards to Bitcoin and Crypto. Obviously, the politicians and bankers dont really like it as it threatens the very existence of the US Dollar. But they have already ruined the dollar as we are seeing negative rates and yields for the first time ever (which shouldn't even be possible). Bitcoin can't really be banned, they can just try to regulate it. Only way to stop it is to stop electricity, and at that point we have a lot more to worry about than money. Bitcoin is open-source like the internet. No one controls it, it just goes. 

[starwill 456]

In my country Venezuela, due to hyperinflation and economic crisis, it was decided to bet on cryptocurrencies, perhaps when you have nothing to lose or innovate or err, we will not be exempt from making mistakes until we can adapt to all these changes.

[cryptosix 1643]

54 minutes ago, Alone Asif said:

in our country, cyber police is finding and arresting them who use crypto. It is totally iligal here. our central Bank had banned it because it is harmful for man.(they think)

That's weird and how about you be spending in this forums, Here the Govt ordered for 10 years Jail. The Govts are the one who scams people and they don't know how to develop a country for better living. We have lost so many jobs in so many sectors in last 2 years and our economy is in the death end.

[bestprofi 372]

At this moment the state of Bitcoin in this country is legal., profits made from cryptocurrencies are subject to income or capital gains tax, both at a flat rate of 10%.