Topic: Bitcoin banned in Sri Lanka - page 3. (Read 3240 times)
If really happen this, Obviously it is bad news for Sri Lankan crypto investor. This decision is take Lankan Main Bank so it is prohibited to sell and buy bitcoin and other cryptos. But we seen a news, where Central Bank of Sri Lanka just warn to people. I think they was not banned bitcoin in their country.
banning bitcoin in a country is not a good decision, blocking bitcoin is makes the country is restricted for new technology from the outside.
I think they are afraid that bitcoin will be used in negative terms such as for terrorists, but if their views are a little advanced, of course there will be many benefits
As for my knowledge, CBSL has only made a public awareness of cryptocurrencies in general. I was not able to find any valid source where mentioning a BTC being banned. According to the CBSL announcement, it has warned the general public to be cautious in dealing with cryptocurrency and no guarantee is given on any investment made.
However, CBSL has taken a decision to restrict payments to forex trading and iq options. This along with the plan on reducing foreign currency outflow to stabilize the LKR against USD
However, CBSL has taken a decision to restrict payments to forex trading and iq options. This along with the plan on reducing foreign currency outflow to stabilize the LKR against USD
Sad to hear this pathetic news that central bank of Sri Lanka has banned bitcoin. Bitcoin is decentralized as we know and no government can allow something which cannot be their controlled and except this government might be afraid of using illegal transaction of money. In the meantime, the government won't get taxes from this, that's could be the reason for banning bitcoin in Sri Lanka.
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 ? 
That's normal of bank doesn't approved and totally ban of crypto currency because it is a number one obstruction of their digital business industry specially their financial income is stable. but the government of Sri lanka will not be mention here only the bank of CEYLON was ban of crypto currency.
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 ?
Probably because bitcoins in Sri Lanka have been so rampant that it actually started to take a toll of the economy of the country. We can never blame Sri Lanka for the move, it's because they are just protecting the balance of the economy. Maybe in time, once bitcoins have stabilized or Sri Lanka has made innovations to accept bitcoins, they can open their doors again.
This is not the only case, as many countries have also banned the use of bitcoin, which may be for a variety of reasons. They may be worried that if the bitcoin grows too strong, they will not be able to control it, and it will completely replace the paper money. So, when the paper money is gone, the banks disappear, which in turn affects the government's large revenue.
I'm not suprised if there are several countries banning bitcoin. because bitcoin itself is not a local product from their country, of course they also protect their economy from the dominance of the crypto currency
Every country must make regulations so that the use of bitcoin can be accepted by the public. Bitcoin does not belong to one country but in my opinion bitcoin is one of the important assets in the world.
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 ?
I think they did not ban it but warn the people to be vigilant and extra careful about crypto investment because we all know how crypto risky is. Much better that centralize bank aware about crypto because they want a better to the people. I'm not suprised if there are several countries banning bitcoin. because bitcoin itself is not a local product from their country, of course they also protect their economy from the dominance of the crypto currency
Every country must make regulations so that the use of bitcoin can be accepted by the public. Bitcoin does not belong to one country but in my opinion bitcoin is one of the important assets in the world.
maybe the negative impact caused by the new bitcoin feels and is just emerging. If left like this continues, it is not impossible that other countries will also be banned from bitcoin. For that reason, don't make a negative impact on bitcoin, because it will hurt us ... !!
I am far from this country and do not know what guided the government of this country by prohibiting the functioning of cryptocurrencies. And why? I don't see anything wrong with using bitcoin, as it can make all payment transactions much easier and safer.
Perhaps the authorities of this country are afraid that cryptocurrencies can disrupt the order of the economy. But I think it's stupid. How can modernization of the economy and the country as a whole be banned? Why resist progress?
Don't get intimidated from this new, because I don't think sri lanka's people give up on this. Possibly the government banned their bitcoin's but they cannot prevent their people of having transactions online. Bitcoin is decentralized and it has no barriers for where it's going to be converted to fiat earnings. 
Perhaps the authorities of this country are afraid that cryptocurrencies can disrupt the order of the economy. But I think it's stupid. How can modernization of the economy and the country as a whole be banned? Why resist progress?
It's fantastic noting how State changes own approach toward crypto. Japan pushes on the accelerator, other States forbide crypto to avoid money move on foreign bank accounts...
The lawful status of Bitcoin isn't characterized in Sri Lanka. As per short discourses of neighborhood civil servants, SL Central Bank is by all accounts steady of advanced monetary standards. Be that as it may, CB authorities consider crypto as something to anticipate just later on, which may take 5 to 10 years. This position could be in part clarified by a moderately low Internet infiltration rate in Sri Lanka, which makes the vast majority of its natives still unconscious of Bitcoin. In any case, offering/purchasing cryptographic forms of money and arranging ICOs are not illegal in SL.
This is unfortunate, but it's important to remember that Sri Lanka is not a major player when it comes to global finance, or even Asia. All in all, this is a minor setback.
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 ?
I feel that bitcoin is experiencing an impossible situation. then Sri Lanka's state rejects the circulation of bitcoin, because they fear that bitcoin which is currently happening can harm the country's finances, so they prohibit bitcoin to circulate.
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 ?
Not banned brother, This a just warning and not any effect. They only warning for ICO investment but Hope we can have good news later. Just neglect that and do your works
we can not find the exact reason why bitcoin is banned, if yes, we must have been prevented from banning bitcoin
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