Topic: 5 countries that banned bitcoin - page 12. (Read 3411 times)
in my opinion.governments banned bitcoin for fear of bank closures but they can not stop the bitcoin's influence among the people and stop it.
As far as I know, the government of these countries simply does not know much about cryptocurrencies, and simply wants to remove the inhabitants of their country from what they know little about.
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 can tell you that this is complete nonsense. Even if the state believes that it is harmful to citizens. But in reality, they only harm people who have to do illegal business with bitcoin in your country
they may be spam so he was banned from the forum.........!
I just added, because of course there are still many countries that prohibit the use of bitcoin for various reasons such as:
1.China, since January 8, 2017. Reason: will issue its own digital currency
2.Korea Selatan, since December 13, 2017. Reason: to control its finances
3.Singapura, since 29 September 2017. Reason: arising constraints between financial companies.
And in my country, bitcoin usage has not been supported by official regulation or regulation from the government, because our government is still reviewing the positive and negative impacts of using bitcoin virtual currency in Indonesia. It has not made sure to allow or not to use Bitcoin for transactions.
1.China, since January 8, 2017. Reason: will issue its own digital currency
2.Korea Selatan, since December 13, 2017. Reason: to control its finances
3.Singapura, since 29 September 2017. Reason: arising constraints between financial companies.
And in my country, bitcoin usage has not been supported by official regulation or regulation from the government, because our government is still reviewing the positive and negative impacts of using bitcoin virtual currency in Indonesia. It has not made sure to allow or not to use Bitcoin for transactions.
It's completely depend on the government, if they understand they will never do this.
Instead of simply banning the cryptocurrency, most governments are wise enough to regulate the currency so that they are able to get some revenue when their citizens uses bitcoins in the form of taxes.
These 5 countries you have listed doesn't impact crypto because they are all under developed countries and in the same time they have under developed economy as well. These countries doesn't have good understanding about crypto and also don't have good technology providing to their country due to lack of funds and income from source.
people are starve to death in those countries. they better get a solution for this and then think about bitcoin.
Though it is their personal issue but i personally think it is really a bad decision.
Simply because they think that bitcoin is illegal. First, Fear of having anonymous transaction that is not issued by the government is consider illegal. Secondly, some of the country is making their own electronic system of money. thirdly, Banks is one of the reasons why they banned bitcoin.
It's completely depend on the government, if they understand they will never do this.
This is the first time I know it
Sad to hear that, but there is always an opportunity to cancel the decision that was accepted before 
In general, Japan, Singapore, Britain and Australia are relatively friendly to bitcoin. The situation in the United States is more complex, with different attitudes in different states. But the mainstream is regulation; Russia and Thailand have experienced a strict ban on gradual relaxation. Regulation is under way in South Korea.
in my country there are some who consider Bitcoin Illegal, probably because of the news of a crime that asks for rewards with Bitcoin, so they think Bitcoin is illegal. But there are also some who think Bitcoin is legal, as long as we use Bitcoin in the right way I'm sure nothing will happen.
I think the five countries that banned bitcoins are:
1. Chinese.
2. nga.
3. India.
4. philipin.
5. bolivia.
1. Chinese.
2. nga.
3. India.
4. philipin.
5. bolivia.
Some Asian Country Banned Bitcoin.Asian And Muslim Country Banned Bitcoin.Muslim People Dislike Bitcoin.
five countries have banned bitcoins.
1. nga.
2. India.
3.ecuador.
4. nepal.
5. China.
1. nga.
2. India.
3.ecuador.
4. nepal.
5. China.
Their not just five countries that banned bitcoin or thinks bitcoin is illegal. Maybe they banned bitcoin because they thought that bitcoin could be used for illegal practices or purchases. Also bitcoin is not that stable and has a limited supply. But with these they cant still stop bitcoin from raising.
five countries have banned bitcoins.
1. nga.
2. India.
3.ecuador.
4. nepal.
5. China.
1. nga.
2. India.
3.ecuador.
4. nepal.
5. China.
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