Topic: 5 countries that banned bitcoin (Read 3408 times)
So far still five countries have banned bitcoin not only for transaction but also their people can’t to access bitcoin website and banned all of bitcoin connection. Will be another country come and allow to banned bitcoin transaction in their country ? we are waiting what the next country will banned bitcoin transaction next time.
My country does not prohibit the use of Bitcoin but now my country has too many fraudsters on Crypto. They use Cryptocurrency to deceive people without knowledge of the field.
So my country is gradually moving to banning electronic money transactions in all forms. This is really a disadvantage for me.
So my country is gradually moving to banning electronic money transactions in all forms. This is really a disadvantage for me.
as long as there is internet, all citizens in the country will still be able to use BTC as an investment tool
never give up my friend, there must be a way that will illuminate BTC to be a very valuable currency that can be accepted by all countries in the world
true, in a country that blocked bitcoin, there are universal site that can accessed by everyone in the world. i think government wouldn't waste their time to check bitcoin user in their country 1 by 1 never give up my friend, there must be a way that will illuminate BTC to be a very valuable currency that can be accepted by all countries in the world
As recently reported, the Nepalese government has arrested nearly all those involved in cyber-trafficking. It would be terrible if that happened in my country, at which point my Bitcoin would be trashed.
Basicly That depends on point of views of governments.
They assume Cryptocurrency is not real
Pseudo-financial innovations that have no relationship with the real economy should not be supported
These news outlets know they can fuk with the markets so they spread FUD and buy cheap.
You watch tomorrow they will be saying everything is fine and pump up the price again.
Rinse and Repeat.
They assume Cryptocurrency is not real
Pseudo-financial innovations that have no relationship with the real economy should not be supported
These news outlets know they can fuk with the markets so they spread FUD and buy cheap.
You watch tomorrow they will be saying everything is fine and pump up the price again.
Rinse and Repeat.
The 10 banned bitcoins I know of are:
Bangladesh
Bolivia
China
Ecuador
Iceland
India
Russia
Sweden
Thailand
Vietnam
Like the ban on drugs, alcohol and the Internet, the Bitcoin ban is ridiculous and unreasonable. Moreover, that is precisely the case in the following countries: Bangladesh, Bolivia, Ecuador, Kyrgyzstan, and Nepal. As recently reported, the Nepalese government has arrested nearly all those involved in cyber-trafficking.
Bangladesh
Bolivia
China
Ecuador
Iceland
India
Russia
Sweden
Thailand
Vietnam
Like the ban on drugs, alcohol and the Internet, the Bitcoin ban is ridiculous and unreasonable. Moreover, that is precisely the case in the following countries: Bangladesh, Bolivia, Ecuador, Kyrgyzstan, and Nepal. As recently reported, the Nepalese government has arrested nearly all those involved in cyber-trafficking.
This title isn’t new but still it’s so weird that counties try to ban bitcoin. I think there are allot of different things that they could waste their time to prohibit but they still want to ban btc and cryptocurrency. I will never understand this.
It is a pity that some countries categorically refuse to recognize bitcoin and cryptocurrency.This is due to the fear of new technologies and the reluctance to develop,but you need to understand that the rejection of the cryptocurrency is a step back.
as long as there is internet, all citizens in the country will still be able to use BTC as an investment tool
never give up my friend, there must be a way that will illuminate BTC to be a very valuable currency that can be accepted by all countries in the world
never give up my friend, there must be a way that will illuminate BTC to be a very valuable currency that can be accepted by all countries in the world
COUNTRIES THAT BANNED BITCOIN
Before we start to our topic this I want to tell that some of you might know about this but I just wanna share this to those who are not.
Several people believe that bitcoin was a blessing and it was an opportunity
for everyone but not everyone shares the sentiment. From central banks and other finance company, Bitcoin's list of detractors runs for a very long time and gone so deep.But most of the government around the world seeks for the regulation of bitcoin.
Be due to fear,ignorance and protectionism, governments have a tendency to legislate against perceived threats.Countries such as japan protects its citizens to have free trade of the digital currency.But unfortunately not all countries embracing the change of our technology.In some cases citizens have had their assets seized,accounts got frozen and have been locked up, Government can't stop the blockchain from propagating, but they can stop their people in having access to it.
STOP THE BITCOIN!!
Like banning drugs,alcohol and other stuffs banning bitcoin sounds nonsensical and unforceable.That's the exact case in five countries:
1.Bangladesh
2.Bolivia
3.Ecuador
4.Kyrgyzstan
5.Nepal
It was recently reported in https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/
that there were dozens of bitcoin and crypto enthusiasts get imprison seemingly guilty of little more than operating a small-scale bitcoin exchange.
Meanwhile Ecuador has outlawed bitcoin, nit because they opposed this crypto but because they want to regulate and control it and tether it with the Ecuadorian dollar.An Electronic money designed to operate ad support monetary scheme dollarization.Completing the naughty list of countries that have banned bitcoin is Kyrgyzstan, a tiny landlocked state in Central Asia,
And Bangladesh banned bitcoin, it was 2014 where Bangladesh bank stated that anyone that will be caught using such online currency could be jailed mostly because it's about "MONEY LAUNDERING".
this was already an old news for updated list
https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory
so what do you think? will your country will ban the use of bitcoin?
do you know other countries that ban the bitcoins?
Please share it and tell to everyone
I think this is a bad news that 5 countries banned bitcoin. There are so many country that wanted to end it because they all know that there is the chance that bitcoin will be the currency all over the world in the future.
In fact there are still many countries that prefer to ban bitcoin rather than giving legal status to bitcoin. What I clearly know is Indonesia, Indonesia as the country where I was born and where I live is very strictly forbidding bitcoin. The Indonesian government prohibits transactions with bitcoin even the state government is out of hand if there is a negative transaction due to bitcoin. In my opinion, my country is less open with technology. Instead of doing a strict ban, there are still many citizens who play bitcoin and earn profits through bitcoin. It is better for countries that prohibit bitcoin, not only Indonesia, to introduce deeper technology so that negative transactions through bitcoin can be pursued and prevented. Does the country also benefit from being able to cross-country transactions easily and quickly. Than we always blame bitcoin technology, we can make improvements to bitcoin.
but what I understand most countries are only negatively affected by bitcoin abuse. Maybe if the positive impacts received by the 5 countries will definitely not be banned for now, but if they think it is the best bitcoin that forbids, then I feel sorry for those who are in jail, Maybe they use bitcoin to fool others, such as money laundering or by trading it with drugs. 
Year 2018! I still do not understand the prohibition. They may not use bitcoin, but it is not right to ban.
in my country, Indonesian banned bitcoin because bank of indonesian worried if bitcoin used to buy drugs, money laundry, and crime
another reason of banning bitcoin is bitcoin didnt have a physical shape and the price unpredictable.
another reason of banning bitcoin is bitcoin didnt have a physical shape and the price unpredictable.
That's right, in Indonesia the ban on bitcoin is also due to the law that payment transaction tools only use rupiah,
so bitcoin is not allowed for payment transactions, but if bitcoin is used as an investment such as gold,
it is permissible because it does not violate the law
5 countries banned bitcoin:
1. Russia.
2. China.
3. Thailand.
4. Bolivia.
5. India.
These countries see bitcoin as a danger to the economy.
1. Russia.
2. China.
3. Thailand.
4. Bolivia.
5. India.
These countries see bitcoin as a danger to the economy.
Countries in the world have a different view of Bitcoins in terms of electronic money, or "virtual currency." Western countries such as the United States and the United Kingdom have shown a positive attitude toward new technology. Some countries like Canada and Australia are still considering Bitcoin. Some other countries have decided against electronic money, especially bitcoin. These are Vietnam, China, Thailand, Sweden and Russia.
Those countries have their reasons for banning bitcoin. But we are clear here, there are still many other countries that allow bitcoin and we should spread the good issues of bitcoin. Hopefully, Bitcoin will be accepted in more countries. Even some countries have banned it, it doesn't mean kill the bitcoin. We should respect their decision to ban bitcoin. and we should spread the good issues of this digital currency.
Discussed with one friend of mine yesterday, we were discussing that paricular topic with him, and we thought that it is very positive for us. If every country will follow Thailand that recently approved crypto/bitcoin... things will definitely go moon!
Can you really ban Bitcoin though? I mean you can tell people that their not allowed to use it, but how do you stop them. They could block crypto websites and IPs I guess. Then you could just used a VPN to get around them. I seems like most they could really do to control crypto activity would be to go after the sites that exchange crypto for fiat. Even there, I think it would be very feasible to exchange via another country, then transfer it to yourself. Seems like a pointless endeavor to "ban" cryptocurrencies. Am I missing something?
COUNTRIES THAT BANNED BITCOIN
Before we start to our topic this I want to tell that some of you might know about this but I just wanna share this to those who are not.
Several people believe that bitcoin was a blessing and it was an opportunity
for everyone but not everyone shares the sentiment. From central banks and other finance company, Bitcoin's list of detractors runs for a very long time and gone so deep.But most of the government around the world seeks for the regulation of bitcoin.
Be due to fear,ignorance and protectionism, governments have a tendency to legislate against perceived threats.Countries such as japan protects its citizens to have free trade of the digital currency.But unfortunately not all countries embracing the change of our technology.In some cases citizens have had their assets seized,accounts got frozen and have been locked up, Government can't stop the blockchain from propagating, but they can stop their people in having access to it.
STOP THE BITCOIN!!
Like banning drugs,alcohol and other stuffs banning bitcoin sounds nonsensical and unforceable.That's the exact case in five countries:
1.Bangladesh
2.Bolivia
3.Ecuador
4.Kyrgyzstan
5.Nepal
It was recently reported in https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/
that there were dozens of bitcoin and crypto enthusiasts get imprison seemingly guilty of little more than operating a small-scale bitcoin exchange.
Meanwhile Ecuador has outlawed bitcoin, nit because they opposed this crypto but because they want to regulate and control it and tether it with the Ecuadorian dollar.An Electronic money designed to operate ad support monetary scheme dollarization.Completing the naughty list of countries that have banned bitcoin is Kyrgyzstan, a tiny landlocked state in Central Asia,
And Bangladesh banned bitcoin, it was 2014 where Bangladesh bank stated that anyone that will be caught using such online currency could be jailed mostly because it's about "MONEY LAUNDERING".
this was already an old news for updated list
https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory
so what do you think? will your country will ban the use of bitcoin?
do you know other countries that ban the bitcoins?
Please share it and tell to everyone
so lucky for me, i come from VN and still join to trade bitcoin each days
Jump to: