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CryptoCurrency Legal or Illegal ?
#1
Hi everyone, I'm not familiar with any cryptocurrency. A month ago i've made a poster design for my friend in 10$ but my PayPal account got limitation and i can't verify my identity because PayPal not available in Pakistan officially, That account was made of fake details but it last long more then 3 years. PayPal not available in Pakistan because of banking policies. Wish to see PayPal in Pakistan soon. PayPal not available it doesn't mean it banned like Turkey.

My friend had only 2 option either PayPal or BTC/ETH (Cryptocurrency) Cryptocurrency is banned in Pakistan, Most of people sell/purchase btc but since 2018 (when PTI government came into power) They've take action every single responsible authorities and now Federal Board of Revenue (FBR) start taking action against money-laundering cases, All . Our new government won last election only because they've promised they will take action against corruption. Which they've fulfilled week. Ex-Prime Mister (Nawaz Sharif) already in jail and this week many politician arrested by NAB Ex-President (Zardari who claim that nobody can do anything aganist him, He act like a God), another parties leaders arrested, I think this thread going off-topic.

Shortly i mean, We might see PayPal in Pakistan soon and most possibly cryptocurrency will legal in the future.

We don't have any digital-way to pay/receive money. 1Link (1Link is Pakistani largest switch system they're more likely a bridge between different banks) So 1Link working on PayPal alternative option, A new project called "PayPak" 1.5Million cards already issued and online transactions not enabled yet. Currently 20 countries adopted it, according to wikipedia but 1Link guaranteed it'll work in 28 different countries official release in 2020.

But the reason i making this thread is, Is cryptocurrency banned in your country? Do you think it should be legal?

I see Cryptocurrency legal is many countries but how do their authorities allowed it? i mean if i'm not wrong the only reason it banned in half of the world countries it because it cannot be traceable.
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#2
Cryptocurrency or rather said crypto currencies (since there are so many different) are legal in Germany. Currently there is no real regulation by the government or banks. The exchanges that operate within Germany might certainly have to abide by financial laws though. Things could change within some years here though. The government or at least a part of it and banks are thinking and trying to come up with plants to regulate crypto currencies (with taxes, laws and etc.). EU loves to regulate everything to death...
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#3
(06-11-2019, 03:28 PM)Hidden Refuge Wrote:  Cryptocurrency or rather said crypto currencies (since there are so many different) are legal in Germany. Currently there is no real regulation by the government or banks. The exchanges that operate within Germany might certainly have to abide by financial laws though. Things could change within some years here though. The government or at least a part of it and banks are thinking and trying to come up with plants to regulate crypto currencies (with taxes, laws and etc.). EU loves to regulate everything to death...

*Cryptocurrencies
Yesterday i heard that Indian users can faced 10 years jail if they mining/sell/purchase any crypto currency.
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#4
I think almost all governments around the world dislike Cryptocurrency because it's quite hard to track or tax it. But there are exceptions like Iran, North Korea etc governments which might benefit from running their own Cryptocurrency. If some government find a way to regulate this properly it will become a total game changer for whole Cryptocurrency market. I guess if that happens all popular hard currency types will become crpto.

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#5
To be honest I think with such harsh rulings against crypto currencies* in countries are a step backwards in technology and one step forward in inhumanity buy criminalizing everything. I don't attempt to offend anyone from India or the country it self but such laws don't exactly help the state and advancement of technology in India. I don't even know a single technology that came out of India that is truely Indian and not a rebrand of sublicense of a different product or technology.

While India is taking this steps other countries actually release their own crypto currency with their own stock exchange and etc. for conversion into a real currency. Of course this is a already regulated crypto currency.

It's basically just pure insanity what India does anyway. I really don't want to offend anyone but them doing this... they have some serious issues... with how they punish people using this technology vs how they punish people who murder, rape and steal. The same issue also applies in many other countries (ehm mostly Islamic countries).

Anyway. We shouldn't drift away into religion or similar. I only wanted to say that banning crypto currencies is not a way to solve the issue of it being unregulated. And that some countries should grow up and sort out their laws for real crimes instead of making everyone a criminal who has anything to do with crypto currencies.

* Yes, this is also one valid way to write it because the term "cryptocurrency" consists of the two words "cryptography" or "cryptographic" and "currency".
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#6
(06-11-2019, 04:20 PM)arsalahmed786 Wrote:  *Cryptocurrencies
Yesterday i heard that Indian users can faced 10 years jail if they mining/sell/purchase any crypto currency.


I would doubt if the news is true or not. https://tokenpost.com/Reserve-Bank-of-In...-bill-2129

And I am also wondering how Indian government will be able to effectively implement the law if it passes. For example, I would be surprised if they arrest people who are just mining cryptocurrencies at home using their own PC.
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#7
I totally agree with HR. it is madness here. Some parts of india seem to be going back to dark ages. politicslly backed police goons beating up non-hindu folks for minor offence, young people (especially uneducated , semi and badly educated youths...which it appears to be the biggest part of them) excited that muslims will be dealt with (what did their common folks, which is the majority of them anyway, do ?), good journslists are are getting beat up, locked up, shot at. You open a newspaper and it is bound to make you feel like we are descending in hell.

anyways, enough with that. this seems the age of intolerance everywhere.

But why this foolish step about cryptocurrencies. Those fools on the chairs !
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