Talk:Legality of cryptocurrency by country or territory

This is the talk page for discussing improvements to the Legality of cryptocurrency by country or territory article.
This is not a forum for general discussion of the article's subject.

Put new text under old text. Click here to start a new topic.
New to Wikipedia? Welcome! Learn to edit; get help.

Article policies

Find sources: Google (books · news · scholar · free images · WP refs) · FENS · JSTOR · TWL

Archives: 1, 2: 3 months

Economics Mid‑importance

	Business and economics portal This article is within the scope of WikiProject Economics, a collaborative effort to improve the coverage of Economics on Wikipedia. If you would like to participate, please visit the project page, where you can join the discussion and see a list of open tasks.EconomicsWikipedia:WikiProject EconomicsTemplate:WikiProject EconomicsEconomics articles
Mid	This article has been rated as Mid-importance on the project's importance scale.

Cryptocurrency Mid‑importance

	This article is within the scope of WikiProject Cryptocurrency, a collaborative effort to improve the coverage of cryptocurrency on Wikipedia. If you would like to participate, please visit the project page, where you can join the discussion and see a list of open tasks.CryptocurrencyWikipedia:WikiProject CryptocurrencyTemplate:WikiProject CryptocurrencyWikiProject Cryptocurrency articles
Mid	This article has been rated as Mid-importance on the importance scale.

Finance & Investment Mid‑importance

	This article is within the scope of WikiProject Finance & Investment, a collaborative effort to improve the coverage of articles related to Finance and Investment on Wikipedia. If you would like to participate, please visit the project page, where you can join the discussion and see a list of open tasks.Finance & InvestmentWikipedia:WikiProject Finance & InvestmentTemplate:WikiProject Finance & InvestmentFinance & Investment articles
Mid	This article has been rated as Mid-importance on the project's importance scale.

Internet Mid‑importance

	Internet portal This article is within the scope of WikiProject Internet, a collaborative effort to improve the coverage of the Internet on Wikipedia. If you would like to participate, please visit the project page, where you can join the discussion and see a list of open tasks.InternetWikipedia:WikiProject InternetTemplate:WikiProject InternetInternet articles
Mid	This article has been rated as Mid-importance on the project's importance scale.

Law Low‑importance

	Law portal This article is within the scope of WikiProject Law, an attempt at providing a comprehensive, standardised, pan-jurisdictional and up-to-date resource for the legal field and the subjects encompassed by it.LawWikipedia:WikiProject LawTemplate:WikiProject Lawlaw articles
Low	This article has been rated as Low-importance on the project's importance scale.

Lists List‑class Mid‑importance

	This article is within the scope of WikiProject Lists, an attempt to structure and organize all list pages on Wikipedia. If you wish to help, please visit the project page, where you can join the project and/or contribute to the discussion.ListsWikipedia:WikiProject ListsTemplate:WikiProject ListsList articles
List	This article has been rated as List-class on the project's quality scale.
Mid	This article has been rated as Mid-importance on the project's importance scale.

Countries List‑class

This article is within the scope of WikiProject Countries, a collaborative effort to improve the coverage of countries on Wikipedia. If you would like to participate, please visit the project page, where you can join the discussion and see a list of open tasks.CountriesWikipedia:WikiProject CountriesTemplate:WikiProject Countriescountry articles

List

This article has been given a rating which conflicts with the project-independent quality rating in the banner shell. Please resolve this conflict if possible.

WikiProject Countries to-do list:

Here are some tasks awaiting attention:

Article requests : Check out the article alerts; see if anything catches your fancy.
Cleanup : clean-up listing for Countries
Stubs : de-stub articles in Category:Stubs by region.
Other : add {{WPCountries}} to talk pages of related articles, and assess.

WARNING: ACTIVE COMMUNITY SANCTIONS

The article Legality of cryptocurrency by country or territory, along with other pages relating to blockchain and cryptocurrencies, is designated by the community as a contentious topic. The current restrictions are:

Limit of one revert in 24 hours: This article is under WP:1RR (one revert per editor per article per 24-hour period)

Editors who repeatedly or seriously fail to adhere to the purpose of Wikipedia, any expected standards of behaviour, or any normal editorial process may be sanctioned.

Remedy instructions and exemptions

Enforcement procedures:

Violations of any restrictions (excluding 1RR/reverting violations) and other conduct issues should be reported to the administrators' incidents noticeboard. Violations of revert restrictions should be reported to the administrators' edit warring noticeboard.
Editors who violate any listed restrictions may be blocked by any uninvolved administrator, even on a first offense.
An editor must be aware before they can be sanctioned.

With respect to any reverting restrictions:

Edits made solely to enforce any clearly established consensus are exempt from all edit-warring restrictions. In order to be considered "clearly established" the consensus must be proven by prior talk-page discussion.
Edits made which remove or otherwise change any material placed by clearly established consensus, without first obtaining consensus to do so, may be treated in the same manner as clear vandalism.
Clear vandalism of any origin may be reverted without restriction.
Reverts of edits made by anonymous (IP) editors that are not vandalism are exempt from the 1RR but are subject to the usual rules on edit warring. If you are in doubt, contact an administrator for assistance.

If you are unsure if your edit is appropriate, discuss it here on this talk page first. Remember: When in doubt, don't revert!

Semi-protected edit request on 1 June 2022

This edit request has been answered. Set the |answered= or |ans= parameter to no to reactivate your request.

Add Gibraltar:

Gibraltar adopted a proactive and progressive approach to regulating the crypto industry by putting forward the Distributed Ledger Technology Framework (DLT Framework) as early as 2018. This framework regulates firms carrying out by way of business, in or from Gibraltar, the use of distributed ledger technology (DLT) for storing or transmitting value belonging to others..^[1]

Add Liechtenstein:

Owning and using cryptocurrency for transactions is legal in Liechtenstein. Liechtenstein had a comprehensive legal framework for the crypto industry since 1 January 2020, with the entry into force of the Blockchain Act (TVTG). With the amendments to the Due Diligence Act (or SPG) and the Due Diligence Ordinance (or SPV), Liechtenstein created the basis for the application of FATF's crypto travel rule and subsequently provided further guidance to the industry through Instructions that entered into force in August 2021.^[2] Wikitoriaedita (talk) 16:16, 1 June 2022 (UTC)[reply]

References

^ "Crypto Travel Rule in Gibraltar by Gibraltar Financial Services Commission". Notabene. {{cite web}}: line feed character in |title= at position 19 (help)
^ "Crypto Travel Rule in Liechtenstein by Financial Market Authority (FMA)". Notabene.

Not done: This looks like it's a copy/paste from your sources. DarthFlappy 19:24, 1 June 2022 (UTC)[reply]

New version Gibraltar:

As early as 2018, Gibraltar introduced the Distributed Ledger Technology Framework (DLT Framework) to regulate the crypto industry in a proactive manner. Firms applying Distributed Ledger Technology to store or transmit value to others by way of business in Gibraltar are regulated by this framework.

New version Liechtenstein:

Owning and using cryptocurrency for transactions is legal in Liechtenstein. From 1 January 2020, Lichtenstein has had a comprehensive legal framework for the cryptocurrency industry, with the entry into force of the Blockchain Act (TVTG). After amending the Due Diligence Act (or SPG) and the Due Diligence Ordinance (or SPV), Liechtenstein set the legal framework for FATF's crypto travel rule and subsequently issued Instructions that began to apply in August 2021. Wikitoriaedita (talk) 13:45, 2 June 2022 (UTC)[reply]

This is just switching out a few words. By any chance are you connected to NotaBene? If you are, I would suggest taking a look at the Conflict of interest guidelines. DarthFlappy 16:03, 2 June 2022 (UTC)[reply]

No, I just work as a compliance officer and have found their website useful as it provides summaries of every jurisdiction, some of which are not even here so I thought it would be useful to add them. Wikitoriaedita (talk) 12:34, 3 June 2022 (UTC)[reply]

Semi-protected edit request on 9 June 2022

This edit request has been answered. Set the |answered= or |ans= parameter to no to reactivate your request.

In Hong kong Part , add Banking ban Hong304 (talk) 10:40, 9 June 2022 (UTC)[reply]

Not done: please provide reliable sources that support the change you want to be made. ScottishFinnishRadish (talk) 10:55, 9 June 2022 (UTC)[reply]

Semi-protected edit request on 7 November 2022

This edit request has been answered. Set the |answered= or |ans= parameter to no to reactivate your request.

Philippines

Please add:

On January 2O21, Banko Sentral ng Pilipinas issued Circular No. 1108, series of 2021 (“BSP Circular No. 1108”) to recognize the potential of Virtual Assets to innovate financial services in the country. It defines "virtual assets", sets regulations for Virtual Asset Service Providers (“VASP”), and warns the public on dealing with unregistered and overseas based VASPs.

Source: https://www.bsp.gov.ph/Regulations/Issuances/2021/1108.pdf Josephbacani (talk) 13:06, 7 November 2022 (UTC)[reply]

Not done: The proposed text does not follow the style guidelines. I would adapt it myself, but I don't really understand what the intention was here; it's quite unclear to me. Actualcpscm (talk) 20:48, 11 November 2022 (UTC)[reply]

Semi-protected edit request on 26 January 2023

This edit request has been answered. Set the |answered= or |ans= parameter to no to reactivate your request.

Under Detail by country or territory, for Slovenia add: On April 5, 2022, the new Act on Prevention of Money Laundering and Terrorist Financing entered into force, which obliges all legal entities dealing with cryptocurrencies to register with the Bank of Slovenia. Companies perform Due Diligence, KYC and AML in accordance with the law. By entering the register, the company obtains a valid license to conduct transactions with cryptocurrencies. Source: Law from April 5, 2022: http://www.pisrs.si/Pis.web/pregledPredpisa?id=ZAKO8547 Moreaboutme (talk) 08:25, 26 January 2023 (UTC)[reply]

Not done: please provide reliable sources that support the change you want to be made.

@Moreaboutme:The link provided appears broken. GiovanniSidwell (talk) 23:50, 28 February 2023 (UTC)[reply]

Edit war on Turkey legality

@A455bcd9 Simply reverting my edits without proper reason causing an edit war right now. Your last revert reason were "Read better". Read better what? You can click on the Reuters link and search "illegal" word within your browser tool. Throat0390 (talk) 12:27, 25 May 2024 (UTC)[reply]

Bitcoin tumbles after Turkey bans crypto payments citing risks: "Bitcoin tumbled more than 4% on Friday after Turkey’s central bank banned the use of cryptocurrencies and crypto assets for purchases citing possible “irreparable” damage and transaction risks."

When something is banned it is illegal. a455bcd9 (Antoine) (talk) 12:58, 25 May 2024 (UTC)[reply]

The central bank's decision can't affect the laws (because they're not the law makers), there must be a penal code to make it illegal. So I'm asking for which penal code is that? Or/and Is there an example of a court case that punishes the violation of this "law"?

I couldn't find any of these but I found a lawyer's website that made same research with me, their conclusion were same with me. Throat0390 (talk) 14:17, 25 May 2024 (UTC)[reply]

@Throat0390 Reliable sources matter. Not your own interpretation and research: WP:OR. If you have a recent reliable source that says that crypto parents are legal in Turkey then we can add it to the article and explain that the situation is unclear (as in some others countries). Otherwise, it'll stay as it is. a455bcd9 (Antoine) (talk) 14:20, 25 May 2024 (UTC)[reply]

You didn't answer my questions in the first paragraph, I find current sources are unreliable. Throat0390 (talk) 14:28, 25 May 2024 (UTC)[reply]

@Throat0390 Reuters is considered a reliable source on the English Wikipedia. a455bcd9 (Antoine) (talk) 14:30, 25 May 2024 (UTC)[reply]

Court orders rely on laws but not Reuters or any other news site, as I said please answer my questions in the first paragraph. Throat0390 (talk) 14:34, 25 May 2024 (UTC)[reply]

Your question is irrelevant here. We're on Wikipedia: we rely on reliable sources. Not on our own interpretation of court orders or laws. a455bcd9 (Antoine) (talk) 14:43, 25 May 2024 (UTC)[reply]

Other reliable sources:

Turkey Bans Cryptocurrency Payments, Says Risks Are Too Big, Bloomberg
Turkey bans crypto payments for goods and services, Financial Times
Turkey has just banned the use of cryptocurrencies and Bitcoin is already feeling the strain: Euronews
What do Turkey’s cryptocurrency regulations mean for the industry?, TRTWorld

a455bcd9 (Antoine) (talk) 14:47, 25 May 2024 (UTC)[reply]

I couldn't even find a court order or law to interpret, all these sources are in theory but not a real life scenarios. Also none of them explains what's the penalty if this "law" violated. Can we still say something illegal if there's no penalty?

I believe this section still needs to be improved but I don't know where to start. Throat0390 (talk) 13:03, 26 May 2024 (UTC)[reply]

@Throat0390 If reliable sources say it is illegal then we say it is illegal. If you don't know where to start: you need reliable sources (mainstream or specialized newspapers or academic journals). a455bcd9 (Antoine) (talk) 13:20, 26 May 2024 (UTC)[reply]

[1] "Crypto Travel Rule in Gibraltar by Gibraltar Financial Services Commission". Notabene. {{cite web}}: line feed character in |title= at position 19 (help)

[2] "Crypto Travel Rule in Liechtenstein by Financial Market Authority (FMA)". Notabene.

[1]

[2]