Topic: Bitcoin banned in Sri Lanka - page 6. (Read 3240 times)
Yes, it is a bad news but I must say it will not going to affect the future of bitcoin because Sri Lanka is a developing country on the other hand many developed country accept bitcoin.
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 ? 
Some countries also banned bitcoin but the people who live there who is really determine to invest in bitcoin find a way. Its kinda sad because what if sri lanka people want to invest but they dont have given a chance. I hope their government change their mind about this. 
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 ?
many countries that also prohibit bitcoin are also many reasons that the country may be one of the reasons that causes inflation of local currencies, and money laundering may be in my opinion 
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 ?
A sad news for bitcoin users in Sri Lanka. However we don't have a whole news in which we can see the reason why the government of Sri Lanka banned bitcoin. Since the government of Sri Lanka has the right to do it. But I think they can still used it like converting it to coin.ph or into cash
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 ?
everyone does not know exactly what the cause is, but I think that in the country of Sri Lanka it prohibits bitcoin, surely there is a big reason, or maybe because the current price in the market is falling continuously, Sri Lanka does not believe that bitcoin will be destroyed and give disaster for them.
To be honest, banning Bitcoin is not possible because Bitcoin is based on the blockchain technology which relies on the principle of decentralization and since we have the blocks all over the world it is almost impossible for any country to ban it entirely. However, banks or any government have the authority to ban Bitcoin to fiat and vice versa transactions but even in that case, we can always use cash or other valuable commodities legally as far as we are not disrespecting any law to exchange Bitcoin.
I haven't seen Sri Lankan media organizations are announcing news regarding bitcoin or cryptocurrencies even negative or positive and that is maybe because major government or financial organizations in Sri Lanka has no concern about the digital currency market and they are busy finding solutions to other problems in the country that are truly matters so I don't think any bad effect come from the government to use crypto assets locally at least during this period
In many countries bitcoin has been banned. But bitcoin can be used in advanced countries. I think countries that are bitcoin banned are bulls.
Because they don't know what is bitcoin and cryptocurrencies. Lol they can't follow the trend.
I think thats not end of the world. Sri Lanka is small island country which have 20 million population. And the people of Sri Lanka are quite poor.. So it wouldn't make any difference if they ban or not. The main think is the biggest countries. When the usage get larger, the market would go higher and higher..
It is true, there is no effect with the development of bitcoin if Sri Lanka prohibits bitcoin from growing in its country. I argue that later the Sri Lankan government will regret having banned bitcoin from developing. Bitcoin will continue to have value and continue to grow according to the development of internet technology.
This is really bad. They probably want to protect the interests of the banks and issue a ban. This is a grape country and they can not stop the negative issues from the bitcoin that have brought their economies. I really feel sorry for investors from this country.
I think thats not end of the world. Sri Lanka is small island country which have 20 million population. And the people of Sri Lanka are quite poor.. So it wouldn't make any difference if they ban or not. The main think is the biggest countries. When the usage get larger, the market would go higher and higher..
We cant say it is ban in Sri Lanka as there is no official announcement by the government of the nation.But they need to do more research about it as it will help to boost economy of underdeveloped and developing nations in a positive manner.
i cleared in this topic that bank of sri lanka banned bitcoin transation throw bank like india.this not banned on bitcoin .becouse no body banned on bitcoin. some contries allow bitcoin and some not allow bitcoin.
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 won't be surprise if the banks banned cryptocurrency transactions because they are the one who are directly affected in using cryptocurrency. Imagine if all the people use cryptocurrency, you don't need a bank at all and the best of it is that you are in control of your money and not the bank.
As we know, many countries have banned Crypto. With many reasons, maybe one of them is afraid that crypto itself will compete with the value of the country's currency. And issues like this have been many among this forum.
maybe the banking players in the country are afraid that the cryptocurrency will shift and defeat so that they will suffer losses because they are unable to compete, other than that the government in the country may intervene for fear of many illegal problems that will be caused by the use of cripto currencies and it shows unpreparedness they accept change
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 the main reason of banning is that bitcoin transaction cant be traced.. it is mostly used by drug peddlers and gun smugglers so maybe for this reason many countries are banning Bitcoins.
Everyday I hear the news about Bitcoin. Some are bad and some are good. If it is bad for country then why develop countries are accepting it. There are more ico are still coming. I think if develop countries will accept it then other countries have to accept.
I think the Sri Lanka government has a strong statement as to why bitcoin was banned in Sri Lanka, but also the effect of Sri Lanka being banned does not have a significant effect on the way Bitcoin is on cryptocurrency. so that is not a problem.
Jump to: