Topic: 5 countries that banned bitcoin - page 22. (Read 3393 times)

The world is so vast, even we do not know that very many countries out there, my country that has not yet legalized bitcoin to circulate widely, in my country still can not accept any bitcoin, what else to use as a means of payment, then there will be laws of government in our country, so it is very difficult if every country to accept bitcoin as a means of payment ..

Bitcoin banned five countries -

1.Bolivia: In June 2014, the central bank of Bolivia officially banned any currency or currency which is not regulated by the government.The list of examples includes Bitcoin.

2.Bangladesh: The Bangladeshi central bank quotes the lack of central financial system as the reason for the ban of Bitcoin, which believes that people can be "financially damaged".

3.Nepal: Nepal government banned Bitcoin because he was not able to track his transactions

4.Morocco: Morocco prohibits Bitcoin referring to hidden payment systems that are not supported by any financial institution

5.Kyrgyzstan: In July 2014, the national bank of the Kyrgyz Republic, its crystal, makes it clear that Bitcoin is illegal or as a way to pay for digital currency payments.

They may not know how much it can help the poor and unemployed people, they dont research about bitcoin,how good is bitcoin and how helpful.would have been thought out first before they could be banned

Despite all these prohibitions bitcoin protects itself and it keep rises but such prohibitions are temporary and absolutely the ban will take off

According to me As prohibiting drugs, alcohol and other items that prohibit bitcoin sounds unreasonable and can not be enforced. That's the right case in five countries:
1.Kyrgyzstan
2.Bangladesh
3.Bolivia
4.Nepal
5.Ecuador
Some people believe that bitcoin is a godsend and that is an opportunity
for everyone but not everyone shares the sentiments. From central banks and other financial firms, Bitcoin's detractors list goes on for a very long and very deep time. But most governments around the world are looking for bitcoin regulations.

I do not care for the country that prohibits what bitcoin, while my country agrees with bitcoin so I do not really think about it. Unless the country wants to stop bitcoin, I will help bitcoin if bitcoin wants to stop. But I do not think it can happen because the average country already knows about bitcoin and some are receiving bitcoin.

maybe the bitcoin affects their country so they do not want bitcoin and ban in their country it might have affected their project leaving me why they do not want the bitcoin maybe some people scam in their country and believe that bitcoin scams even if not true

I see that some countries aside from China and South Korea are countries that has weak economy. I agree with you about the government being afraid to let their people have a financial freedom especially when the country is hungry of money. They might use it in illegal things like drugs so the government take an action about this situation.

Achieving authorities approval will be more difficult than simply accepting bitcoin as an approved and legitimate means of payment, although this is more important for most users.

Now I don't pretend to know these countries - haven't been in any of them (so I apologize if I'm being ignorant) but and usually in such countries ignorance, nepotism, corruption thrive.
People in under-developed countries are petty, greedy, afraid and overly proud without reason.
The ones that get into power always fear to lose it.
At the other end of the spectrum  highly developed countries embrace it and see the potential for economic growth.
What more can be said... It's just sad for the ones living there and not having a chance to leave.

I do not understand why some countries ban Bitcoin completely. In the end, there is no harm about using Bitcoin. Also, Bitcoin keeps developing itself thanks to Blockchain technology.

how many countries forbid bitcoin? in my country also forbid bitcoin, for some reason I do not know anyone say because of government concerns in some countries will fraud taxes, worry about fraud Cryptocurrency, bitcoin hacking and avoid money laundering.
digital currency tension becomes a crucial point of global demand for digital currency transparency .

It is the history of Mankind that many countries ban many things but sooner or later they have to follow world trend, they have to adopt the technology. How long a country can ban crypto when educated people of those countries know who to get access to crypto through the internet. Countries cannot shut down the freely available information on the internet.Still in many countries many websites are banned but people are accessing them.

They prohibit bitcoin because they can not or do not want to see in it a new level of economic development. Today it's easier to ban than think and develop laws for regulation.

  Sooner or later countries have to accept cryptocurrency, I think its just for time being.

bitcoin is growing rapidly around the world. It can overwhelm other currencies. bitcoin influenced the development policy of the national currencies of some countries. So, five countries have banned bitcoins.
1. nga.
2. India.
3.ecuador.
4. nepal.
5. China.

5 countries that banned bitcoin
1. Morocco
    Bitcoin and other cryptoccuncy transactions were officially banned in Morocco in November 2017, apparently in response to the leading
    Moroccan digital service company, MTDS, announcing a few days earlier that they would start receiving Bitcoin payments.
2. Bolivia
    Cryptocurrencies have never been legal in Bolivia and the government has implemented its anti-Bitcoin stance quite firmly. People caught
    using Bitcoin and other cryptocoins may be subject to fines and some users have even been arrested more than once for Bitcoin trading
    and mining.
3. Ecuador
    Ecuador forbids Bitcoin and other cryptocoins by mid 2014 as part of its financial reform plan. The prohibition of Bitcoin is seen by many as
    a way to reduce competition with the country's own digital currency system (Sistema de Dinero Electrónico).
4. China
    Bitcoin trade and other cryptocurrencies were banned in China in September 2017. Because of the technology that was so popular in the
    country before the ban, the law changes are no longer stopping its use and many Chinese continue to exchange cryptocoins through chat
    apps like Telegram and WeChat.
5. Nepal
    Nepal's stance on many aspects of Bitcoin and cryptocurrency is slightly ambiguous but it has been confirmed that Bitcoin trade is
    considered illegal following several arrests of Bitcoin merchants in 2017 that result in a combination of fines and imprisonment for those
    involved.

What I understand most of the country is only negatively affected by the misuse of bitcoin. Maybe if the positive impact is received by the 5 countries it will be bitcoin certainly will not be banned.

It depends on a government of that countries. If they think that its the best, banning bitcoin then I feel sorry for those who was in prison. Maybe theyre using bitcoin for fooling other people, like money laundering or by trading it with drugs. We dont know the real truth but if this is really true, I hope theyre starting to accept bitcoin. Bitcoin is really a big help to the economy of one country.

Iran has not banned people from trading. They have banned banks from being involved in Cryptocurrencies. This is what they have officially announced.