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Why isn't Bitcoin illegal

Posted: Sat May 20, 2017 7:12 am
by dragonmax
What makes people think that Bitcoin is illegal?

Re: Why isn't Bitcoin illegal

Posted: Sat May 20, 2017 10:42 am
by abbot
Probably because Bitcoin is not compliant with Anti-Money Laundering (AML) regulations, FinCEN regulations, Foreign Account Tax Compliance Act (FATCA) regulations, Know Your Customer (KYC) regulations, etc.

Moreover, the currency is autonomous to government/banking influence and there is no authority to regulate the flow of bitcoin which ultimately blows the mind of the average citizen.

Re: Why isn't Bitcoin illegal

Posted: Wed Sep 13, 2017 4:10 am
by paranoidGlitch
it is not illegal bcz it is not considered as a real money.

Re: Why isn't Bitcoin illegal

Posted: Wed Sep 13, 2017 4:11 am
by pual
there is no solid reason to make it illegal if there was the govt have issued a law against it.

Re: Why isn't Bitcoin illegal

Posted: Wed Sep 13, 2017 4:12 am
by phil
it is illegal cz it is a currency being used in darknet market.

Re: Why isn't Bitcoin illegal

Posted: Wed Sep 13, 2017 4:12 am
by Ray
I find it illegal too cz people are purchasing drugs and provided as rewards to dif crimes.

Re: Why isn't Bitcoin illegal

Posted: Wed Sep 13, 2017 4:13 am
by reebrilliant
well just because it is being used for illegal purposes didn't make it illegal the traditional currency is also being used for such things as well

Re: Why isn't Bitcoin illegal

Posted: Wed Sep 13, 2017 4:15 am
by Reyes
I agree with reebrilliant!

Re: Why isn't Bitcoin illegal

Posted: Wed Sep 13, 2017 4:15 am
by Reynolds
bitcoins are still legal because there is no law made against bitcoin.

Re: Why isn't Bitcoin illegal

Posted: Wed Sep 13, 2017 4:16 am
by richardson
bitcoin itself is not illegal but its usage can be illegal.

Re: Why isn't Bitcoin illegal

Posted: Wed Sep 13, 2017 4:16 am
by rivera
world is trapped in an online web and bitcoin is its currency, so its illegal use can be a serious issue.. ! So it should be banned according to me if the crime rate increases cz of bitcoin.

Re: Why isn't Bitcoin illegal

Posted: Wed Sep 13, 2017 4:17 am
by robb
bitcoins are not violating any law, so according to me it's not illegal