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Han2x

Prison Sentence for Bitcoin Users.

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On 06/01/2020 at 12:23, State said:

Do not tell anyone that you have bitcoin. Set your wallet on iPhone. Keep him at home. How will you be arrested? Will they search the houses? To do this, you must commit a VERY serious crime.

You do know you will have to KYC your information against any exchange right?

Virtual currencies need to be exchanged with other Sellers / Buyers. As if you sell BTC and you send FIAT to your bank you will be obligated to tell authorities where the money come from if they ask you.

You are safe as long you dont do illegal activities. Same thing in India right now as they are going for more specific laws.

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This matter is related to the country because not all countries deal with cryptocurrencies as illegal and we have 3 types of governments according to the way they deal with cryptocurrencies: the first is the governments that encourage bitcoin and seek to make banks for this currency and put Bitcoin ATMs in their streets and the second type is governments Which do not fight cryptocurrencies but do not seek to introduce them comprehensively and leave the operations of brokers disposal. The third type is the governments that fight cryptography and impose penalties and imprisonment on their users.

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This depends on the laws imposed by each country, but a few countries impose imprisonment on Bitcoin users, for example in my country, Bitcoin is not rejected, but there is not enough encouragement for it and in European countries it is not rejected, so I think it is an exaggeration to imprison encryption users.

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But how will India ban cryptocurrencies is one of the most influencing countries in the price I have read a report saying that India is the largest contributor to the rise in the price of bitcoin in 2019 this news should not be true from one of the sites that stand against cryptocurrencies

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Dealing with cryptocurrencies still differs from country to another, and the perception of this currency differs between allowing it to be dealt with, prohibited, or warning against its use, without preventing it or deeming it illegal.
Among the countries that prohibit bitcoin are Saudi Arabia, Egypt, Bolivia, and China. As for the major countries that allow bitcoin, Germany, Canada, and the United States of America .

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It is very difficult for them to be able to prevent people from using the bitcoin currency, even if they slaughter many of them. The bitcoin currency provides a lot of jobs and money to the unemployed, and this is what makes them work in this field and care a lot about it.

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ohh that is very serius , i think support should take care of this and let us know if using this site and coins is illegal!!!!

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This is illogical, now there are millions of people dealing with bitcoin, and some stores and universities have become allowed to pay with bitcoin, so I don't think anyone who deals with it will be punished.

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Hello, I think Bitcoin is not legal in that country, if you do business with Bitcoin in that country you can be imprisoned, so be aware that in the country where Bitcoin is legal, you will not be taken to jail.

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On 20/07/2019 at 03:12, Han2x said:

Guys I just heard a news that India is already having a draft law banning cryptocurrency. It's mandated there that Bitcoin user's can fall in to prison. 

What do you think will be the effect of this? I know it's still not happening right now, but what if it will happen? Will you still have or use Bitcoin? You will be like selling illegal drugs. 

 

Yes it's true maybe the government has its own plan, perhaps they think that its gonna affect some of there plan or economy

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Some countries don’t like the presence of bitcoin in there economy they think it gonna course harm to there economy which is not true 

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Cryptocurrency is not illegal in my country. It is not a crime here and I don't think it will ever be because many of our political leaders are using it. Countries like India putting a ban on it will remove it with time.

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