Bitcoin banned in Sri Lanka - page 12.

fipper

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Quote from: Charithacrypto on July 11, 2018, 01:09:32 AM

Last past months Sri Lanka's Main Bank (Bank of Ceylon) was banned cryptocurrencies in Sri Lanka. What do you think is the reason for that ? Huh

the state prohibits the existence of bitcoin in the country has a strong reason, maybe one of them the government is afraid of inflation on the country's currency

ANUKRAMAYON

newbie

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That is something happening in many countries and yet it hasn't stop and still continues like a trend due to governments and public organizational concern regarding the matter that if they allow Bitcoin to be use in there country the whole financial system might collapsed which is false accusation

marn6767

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I have no idea why they forbid it. But the prohibition of crypto money means to stay away from future technology. They think they are doing something good with this, but they are moving away from the technology of the future.

orarider

sr. member

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I do not believe that is the truth. This is really bad news. It makes the e-money market suffer from severe consequences. There are many people worried about this.

Charles_Summers

newbie

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Asia as a whole doesn't really seem to be buying all this stuff. I am left amazed. What would these rather small economies gain from this war against cryptocurrency? I guess they are just borrowing a leaf from the bigger Asian economies. But what they do not recognize is that they do not have some factors that are working for these other countries. I really don't see how this is a wise decision. No matter what the reason may be. Hopefully, they'll go back on this.

svetochka.yakovleva.93

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no need to worry about the ban. A lot of countries and people constantly changed their minds about the crypto market. Many of them said that they will never use bitcoin, and now they are very actively promoting the development of the entire crypto system!

jacksonhen

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Can you accompany the link that contains the news? or at least you tell where you know it.
There are some countries in Asia that allow bitcoin and some forbid it. But it should be noted that there are usually a number of things that are considered for the ban, whether temporary or permanent and the prohibition is about transactions and is not prohibited for commodities.

Dmitry.Vastov

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Quote from: Charithacrypto on July 11, 2018, 01:09:32 AM

Last past months Sri Lanka's Main Bank (Bank of Ceylon) was banned cryptocurrencies in Sri Lanka. What do you think is the reason for that ? Huh

Not only Sri Lanka 🇱🇰, but there are many more nations who has banned the crypto trading in their nation, and being the citizen of India, i am going through this thing because India 🇮🇳 is one of those countries who has banned crypto trading from their nation and the reason behind all this banning is the illegal use of bitcoin like in selling drugs, explosives and money laundering etc but the thing that all these countries needs to understand is that the illegal use of bitcoin can only be stopped when these countries starts keeping eye over bitcoin activities.

tkaush

newbie

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Bitcoin banns in Sri Lanka is not a surprise because Not just Bitcoin but most of cryptocurrencies face the same problem in most countries. Countries like United states are making restrictions and some are trying to completely ban every cryptocurrency usage locally to eliminate the existence of cryptocurrency forever

tuturutmunding

newbie

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Indeed, many countries forbid the use of bitcoin so many and various reasons that I put forward, I think that is just the fear and panic of the government and the banks will reduce their punctuation because they are replaced by bitcoin

MatthewNaccarato

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As far i know this news is not fully correct because Sri Lanka doesn't put ban on it the central bank has some problem regarding bitcoin but i think soon it will be solved.

EvelynAriana

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It is really bad news for us because crypto users are increasing day by day also many developed country already invested their money in crypto market like South Korea based on this they have billions of shares of crypto so I think they should think this issues again.

phanquan5111994

newbie

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Hello!!!
I do not really understand why Bitcoin is banned in Sri Lanka!
Maybe because some bank security issues in this country are hacked !!!
Probably because the economy has not developed much!
Also in my country (Vietnam) there are five Bitcoin ATM trees spring up and in the future will certainly more than that!

felixesteban

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It appears that only a warning has been issued. In fact, many countries have not determined exactly what kind of attitude they are going to take. They seem confused about taxation in particular.

isidrorex

newbie

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It is saddening to know and hear news like this one that says about a particular country banning Bitcoin and doesn't support and believe in what Cryptocurrency can bring and offer to the country if only they would adapt change and start to be educated about the Rise of Cryptocurrency around the world.

ogabonny

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Quote from: yayat on July 25, 2018, 01:01:34 AM

It is hereby notified that CBSL has not provided licenses or authorization to any Initial Coin Offerings (ICOs).

Published Date:
Monday, April 16, 2018

that is an excerpt from this article https://www.cbsl.gov.lk/en/news/public-awareness-on-virtual-currencies-in-sri-lanka

I think in Sri Lanka it does not prohibit for Bitcoin transactions, it's just that they give a warning. and the warning is not the same as forbidding / banned .

That makes more sense if they do not prohibit people from buying cryptos, only offering responsible advice to investors in crypto assets, that they are very risky.

ogabonny

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Quote from: Charithacrypto on July 11, 2018, 01:09:32 AM

Last past months Sri Lanka's Main Bank (Bank of Ceylon) was banned cryptocurrencies in Sri Lanka. What do you think is the reason for that ? Huh

They are scared of losing control of money, that people will move theri funds away from the banks and invest it in cryptocurrencies, it was a bad move by the government.

arc67583

newbie

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Yest they might do that at least they might make restrictions for some extend because they believe the same thing like the Indian Government that more criminals will be able to launder and hide there money and I think that is not reasonable because even without cryptocurrencies they are doing that fine. But yet there are no exact rules or regulations that has introduced recently by the Sri Lankan Government regarding such matters unless some warnings and awareness programs.

Malintha1996

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I am a Sri Lankan too.As far as I concern such a thing did not happen.However recently government announced that the virtual currency usage and awareness of people about it in the country has increased.But no action has been taken against bitcoin so far.
In addition to that I heard the news that a private banking system is going to integrate crypto currency supported system in to their system soon.So it is less probable bitcoin to be banned in Sri Lanka.

kotajikikox

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Quote from: jossiel on July 11, 2018, 01:42:18 AM

Are you sure that Sri Lanka's Bank of Ceylon banned bitcoin? I'm looking for an article that has this news but the results are poor.

This is one of their latest statement: April 16,2018.

Public Awareness on Virtual Currencies in Sri Lanka

They are giving warning to their people but there's no ban.

That's true mate the author of this topic was making fake news i don't what is the reason making fake news and to make panic in the cryptocurrency community, that's i always advice to all people don't listen to fuds always investigate first.

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