Quote from: audaciousbeing on July 30, 2018, 10:58:50 AM

Quote from: Flashstein on July 27, 2018, 04:46:12 PM

Comming from a 3rd world country, many opinions around but not certain. The country gov. doesn't have official statement about crypto. There is a law that you cannot own a bank account abroad and that you can't own stocks outside of the contry. But i think crypto doesn't fit into stocks sector. What are your oppinions?

Whether regulated market or non-regulated ones, what matter is what is being done in that market because both regulated and unregulated, legal and illegal activities are going on but the assurance that regulated has is just that there is some checks and control when there is need for investigation, it can be traced and evidence can be garnered which makes the discussion to be around having a regulated market place not to eradicate illegal activities, but to put a tight leash around it.

From where you come from, there is need for you to really understand the laws of the country because for every law, there is always an exception. Just like mine too, there is a law against owning an account outside the country but this is only restricted to public officers alone like the civil servants and elected officials and not private citizens who have earned their money legitimately to have investment abroad. This also is would bring income to the country because when I invest abroad, I earn income from there which increase the GDP of my home country. Also, there is always a cap of the amount that can be kept abroad without raising any issue of illegality.

There's also the issue of the government defining laws to serve their needs. I've seen that happen in many third- and second-world countries, and even sometimes in first-world countries (the police in the US are notorious for this). If they look at you as a big enough problem, they can basically formulate legislation on the spot to deal with you. This is also what all of these "obstructing justice", "treason", and "terrorism" charges are meant to be. They're entirely open to the interpretation of the arresting officer.

Even a comprehensive understanding of the laws and a good lawyer isn't enough in some countries if you're deemed an enemy of the state. Best just to be as low-key as possible.