The 5 countries that banned bitcoin are:
Bolivia: Back in June 2014, the Bolivian central bank officially banned any currency or coins that aren't regulated by the government. Included in its list of examples was bitcoin. Bolivia's central bank also prohibited its citizens from denominating prices in any currency tha its national institutions haven't previously approved.
Ecuador: Not long after Bolivia's central bank banned bitcoin, Ecuador also removed its welcome mat in July 2014. The country's National Assembly of Ecuador banned bitcoin and other digital currencies while laying the framework for the creation of a new, state-run currency. In other words, the government has the permission to make payments in electronic money, but other digital currencies, like bitcoin, are banned for its citizens.
Kyrgyzstan: In July 2014, the National Bank of the Kyrgyz Republic made it crystal clear that using bitcoin, or any digital currency, as a form of payment is illegal. The only legal tender in Kyrgyzstan is the som, the country's national currency. The Kyrgyz National Bank cited that bitcoin's lack of governmental backing makes public or private regulation almost impossible.
Bangladesh: Bangladesh also followed suit in September 2014. The Bangladeshi central bank cited bitcoin's lack of a central payment system as the reason behind the ban, which it believes would allow people to be "financially harmed." Long story short -- if you're caught trading in bitcoin in Bangladesh, it could lead to legal trouble under the Foreign Currency Control Act of 1947 and the Money Laundering Control Act of 2012.
Nepal: Though it might not be a well-known fact throughout the country, bitcoin is illegal in Nepal, according to Kedar Prasad Acharya, the deputy director of Nepal Rastra Bank. The Nepalese government banned bitcoin on account of not being able to track its transactions, and it has gone so far as to arrest individuals suspected of trading bitcoin.
Topic: 5 countries that banned bitcoin - page 25. (Read 3393 times)
Hoping to not ban bitcoin in my country this is the one of my source of income some days bitcoins scams is always in the news. and banks here in my country said that bitcoin is not advisable for daily method of income because it has no permanent amount this is always change and bitcoin is a risky thing.
This list of country can't move price to down.
I don't see any reason to panic.
In the way I think this is temporary...
I don't see any reason to panic.
In the way I think this is temporary...
The core technology of crypto is based on decentralization that means, if the government wants to ban it then they have to destroy it from each and every computer across the globe at the same time. This is practically impossible for any governments so the second way is restricting people from buying crypto and as a part of it, many countries are instructing banks to stop serving to the exchanges out there. Even in this case, we will be able to use and trade crypto along with fiat and banking system so again this is not a concrete way for them. Thus, there is no practical way to ban crypto.
Governments are having their own issues. Most of the countries are suffering from illegal trade, terrorism, money laundering etc. Governments also do not want to give up their control over currency. They fear that in case their national currency is replaced by bitcoin they will not be able to control their economy due to anonymity of transactions.
Those country belong to third world country and the main reason might be they do not have strong system or idea on how it works.
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
In my country: no laws prohibit bitcoin, nor support bitcoin.
It is very difficult to manage if someone exploits bitcoin to cheat
It is very difficult to manage if someone exploits bitcoin to cheat
i dont know any countries that anned bitcoin but I think in the near future, the world will accept bitcoin because the benefit of it.
bitcoin really good. It is sad that they banned bitcoin. They are afraid of influencing their country's currency.
All other countries except those banned by bitcoin want to apply regulation and make it legal, and those countries that are now banned from it in the future will also be allowed, so the world no longer represents life without bitcoin
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 do not think there's any benefit in banning bitcoin trading instead of looking at a country that prohibits the circulation of bitcoin indicating that its country can not accept new technology so that its country can never be a developed country. try to see some developed countries that accept new technological developments from bitcoin they give permission bitcoin transactions.
Korea decided to ban bitcoin, causing mainstream media to roar about the "ban" on bitcoin, institutions within the same government began to conflict with each other, ending with the president's official announcement of no "ban" to come.
Many countries have taken the drastic step of banning Bitcoins and its use as an alternate currency. These countries include;
1. Bolivia
2. Russia
3. India
4. Thailand
5. Taiwan
1. Bolivia
2. Russia
3. India
4. Thailand
5. Taiwan
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
I hope that countries that have banned or fired bitcoin actions have an impact on other countries around them that have not stopped bitcoin. If he then many countries will follow then bitcoin so hard to develop.
The 5 countries that banned bitcoin are:
1.Bangladesh
2.Bolivia
3.Ecuador
4.Kyrgyzstan
5.Nepal
1 Bolivia: in June 2014, the Bolivia's central bank also prohibited its citizens from denominating prices in any currency that its national institutions haven't previously approved.
2 Ecuador: Ecuador banned bitcoin and other digital currencies.
3 Kyrgyzstan: In July 2014, the National Bank of the Kyrgyz Republic made it clear that using bitcoin, or any digital currency, as a form of payment is illegal.
4 Bangladesh: Bangladesh also join in September 2014. The reason behind the ban, which it believes that it will allow people to be "financially harmed.
5 Nepal: The Nepalese government banned bitcoin on account of not being able to track its transactions.
1.Bangladesh
2.Bolivia
3.Ecuador
4.Kyrgyzstan
5.Nepal
1 Bolivia: in June 2014, the Bolivia's central bank also prohibited its citizens from denominating prices in any currency that its national institutions haven't previously approved.
2 Ecuador: Ecuador banned bitcoin and other digital currencies.
3 Kyrgyzstan: In July 2014, the National Bank of the Kyrgyz Republic made it clear that using bitcoin, or any digital currency, as a form of payment is illegal.
4 Bangladesh: Bangladesh also join in September 2014. The reason behind the ban, which it believes that it will allow people to be "financially harmed.
5 Nepal: The Nepalese government banned bitcoin on account of not being able to track its transactions.
The parliamentarians of Ukraine offered their versions of the settlement of the market to the market. Two alternative draft laws have been registered in the Verkhovna Rada of Ukraine. However, none of them won the position of market participants. The last few months have promised to present their version of the program for legalization of crypto-currency in Ukraine.
I was suprised about Kyrgyzstan - have they combatted corruption, built competitive economy and increased the living standards of the population?
Aren't there any other vital problems except for the bitcoin?
What mean is that there is an evident interconnection between the prosperity of the country and their relation to cryptocurrencies - cryptos are being banned in the least successful countries.
Aren't there any other vital problems except for the bitcoin?
What mean is that there is an evident interconnection between the prosperity of the country and their relation to cryptocurrencies - cryptos are being banned in the least successful countries.
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