Topic: 5 countries that banned bitcoin - page 5. (Read 3411 times)
In my country bitcoin is not prohibited but not also in sahkan. So every country does have its own provisions against bitcoin. But the country that forbids the bitcoin must have its own reasons for that.
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
Many countries still accept bitcoin today as I think in areas where bitcoin banned because of bitcoin trust
and it's still not so well known and how do I run bitcoin and other crypto coins.
Who cares about those countries...Western superpowers like the United States and United Kingdom have shown a positive attitude towards the new technology
We need more time to know whether the ban is true or false. However, I still do not like this ban
last year there was news, one of them in my country that the use of bitcoin or other coins is strictly prohibited by the government but lately it seems the government no longer cares about this bitcoin or digital money.
Risk will come faster when you do not understand the virtual currency.
they ban bitcoin because the government feels like its loosing control, i think many more would ban bitcoin if possible. buy its not really possible for most countries due to most constitutions.
As for countries that ban the use of bitcoin we keep hearing a lot. I sometimes wonder what exactly is wrong with the use of bitcoin in those countries. But all the same, they are in power and probably may see bitcoin usage from a different perspective. I hope that one day they will begin to realize the potential of this coin
I keep wondering why Government and other traditional financial institutions are fighting against Bitcoin, is so unfortunate that they can't stop Bitcoin from become a major currency to be accepted worldwide
The 5 countries that banned bitcoin are:
1.Bangladesh
2.Bolivia
3.Ecuador
4.Kyrgyzstan
5.Nepal
1.Bangladesh
2.Bolivia
3.Ecuador
4.Kyrgyzstan
5.Nepal
Bolivia, The United States, Russia, and a few other mores just like China.
I heard about Sri Lanka banning bitcoin transactions on their jurisdiction, i am not 100% sure if it was true or just any other kind of fud on the forum
I heard about Sri Lanka banning bitcoin transactions on their jurisdiction, i am not 100% sure if it was true or just any other kind of fud on the forum
I think that we should all respect the countries' decision about banning bitcoin, I'm sure that they have a good reason as to why they cannot accept bitcoin in there country, it may be a threat for them perhaps or they are not very confident about the effects of what bitcoin can do to their countries. So, we just have to accept it.
India, Philippines, Nepal, Bangladesh, Russia are the countries that forbid bitcoin. They think that bitcoin affects the economy of the country. These governments prohibit people from buying bitcoins.
It is harmful thing because, Is the government don't ask people what they want and tried to do whatever they want, it is bad government. Using cryptocurrency is the future, why people can not use it..
They miss the chance of helping unemployed people to earn.Bitcoin is a big help today and in the future, but maybe they see bad effect in their country if they allow it to enter in their country. Those 5 countries who banned bitcoin maybe they have their own reasons why they banned it in their countries.Bitcoin is for everyone Hopefully they accept bitcoin
Hey, there are some news spreading that Bitcoin is banned in so many countries. Those countries who banned bitcoin has a lot of reasons for it sure. Sometimes it should be the country's weak economy. But in my opinion, bitcoin shouldn't be ban. Because every cryptocurrency has a limit for the blockchain. And the governors should know, Bitcoin is a huge future investment. So I think that countries should clear their prohibitions. Thanks.
All listed countries are not economically developed, and this may be due to the fact that they have little literate economists in the structure of the board. Or the riches of their countries do not want to enrich the population not by working for them.
As you can all see - mostly countries that do not take bitcoin on their territory and resist the emergence of crypto-currencies - these are underdeveloped countries. It is not surprising that in such old days the government is opposed to innovation. They benefit when the people do not know anything. But bitcoin makes people free and they are afraid of it, therefore they forbid it.
I shared the reason for banning as it is easy for untraceable money laundering. But the advantages of BTC outweigh it disadvantages, I hope that they can see this and reverse their decision on banning.
They see bitcoins as a threat to the country, so they do not allow bitcoin to operate. only more people know about bitcoin and there is a way to protect the bitcoin from cryminals, it can be free cryptos around the world. And many countries forbid ico and speculation, but they look forward to blockchain technology and develop it very quickly. Here are some countries that banned bitcon such as Bangladesh, Bolivia, Ecuador, Kyrgyzstan, Nepal, china, venezuel, Zimbabwe, and India.
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