Countries where Bitcoin is “banned” - page 4.

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Quote from: joker_josue on September 01, 2023, 04:11:39 AM

We know that it is not possible to ban bitcoin directly, but to create mechanisms that make its use or acquisition difficult, running the risk of being arrested, fined or other problems with the government. And there are several countries where they create these impositions on Bitcoin.

A bitcoin "ban" codified as some arcane legal statute without any enforcement is what direction many countries are heading. It isn't an issue until they arbitrarily start targeting citizens by fining them or threatening them with jail time. Most people don't understand the legal jargon so they aren't vocally opposed.

The alternative to the laws are excessive taxes. Some governments have been brazen enough to suggest crypto gains need to be taxed at some insane rate even if the gain isn't realized, ie a "wealth tax".

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Quote from: Ale88 on September 01, 2023, 09:10:57 PM

I find it pretty incredible that two countries like those already had politicians who were aware of bitcoin was in 2014, and the law passed in 2014 it may even mean that they proposed the law back in 2013. These people/countries could have been years and years ahead anyone else in the world and, especially for Bolivia, their economy could have improved a lot.

The Bolivian ban wasn't a law but a Central Bank resolution, like I wrote above. It's not an absolute ban, but those entities who are subject to the Central Bank's authority are banned to use cryptocurrencies. But there are no fines for citizens using cryptoassets.

A Central Bank resolution can be decided in a month, or even a week if enough political will is there. I remember the Bolivian central bank had worries about the stability of the local currency, thus it implemented the ban.

Later there was a clarification (I think it was in 2018 or 2019) with more precisions about what was explicitly prohibited. I don't find the link to the document anymore, but basically, financial institutions can't use the local electronic financial networks for anything related to cryptocurrencies (we talked about that in the Spanish subforum), and local exchanges are prohibited to exist. The document mentioned however explicitly that the intention wasn't to ban blockchain tech entirely, and that innovations in this space (e.g. by software companies) weren't subjects of the regulation.

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Quote from: joker_josue on September 01, 2023, 04:11:39 AM

#Bolivia - The use of Bitcoin has been prohibited since 2014 (this ban was very early).
#Colombia - Also since 2014, financial institutions cannot have any activity related to Bitcoin: “protect, invest, intermediate or administer virtual money operations”.

I find it pretty incredible that two countries like those already had politicians who were aware of bitcoin was in 2014, and the law passed in 2014 it may even mean that they proposed the law back in 2013. These people/countries could have been years and years ahead anyone else in the world and, especially for Bolivia, their economy could have improved a lot. In many first world countries bitcoin wasn't a thing until 2017, so 3 years later. I'm impressed, but unfortunately in a negative way.

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Quote from: joker_josue on September 01, 2023, 04:11:39 AM

~snip~
The article presents 18 countries that have created restrictions on Bitcoin. Here is a small compilation of what is involved in these restrictions in these countries.

#Indonesia - The use of cryptocurrencies as a form of payment has been banned since 2018.

How do you think bitcoin users deal with these situations?
How do they manage to get around these restrictions without getting caught?
Do you think, what more countries can join this list?

Indonesia is my country, as mentioned by the OP, that Indonesia has restricted bitcoin for transactions or means of payment. Our country can only carry out buying and selling activities in our local currency "IDR - Rupiah".

However, we can legally own bitcoins. We are only allowed to have bitcoin as an asset and trading activities on the crypto market. So Indonesia does not completely ban bitcoin, it only regulates the use of bitcoin, perhaps our government wants there to be a currency contradiction, so that every real goods trading activity must use the Rupiah currency as a means of payment and prohibit the use of bitcoin.

Our country has also regulated the legality of bitcoin in state laws : n Pengawas Perdagangan Berjangka Komoditi (Bappebti) menerbitkan Peraturan Badan Pengawas Perdagangan Berjangka Komoditi Nomor 7 Tahun 2020 tentang Penetapan Daftar Aset Kripto yang Dapat Diperdagangkan di Pasar Fisik Aset Kripto (The Commodity Futures Trading Supervisory Agency (Bappebti) issued Regulation of the Commodity Futures Trading Supervisory Agency Number 7 of 2020 concerning Determining the List of Crypto Assets that Can Be Traded on the Physical Crypto Asset Market)

For the latest regulation, Our country legalized bitcoin as an asset and 500 altcoins. You can see in this regulation : Peraturan Badan Pengawas Perdagangan Berjangka Komoditi Nomor 4 tahun 2023 (Commodity Futures Trading Supervisory Agency Regulation Number 4 of 2023)

Sarah Azhari

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Quote from: joker_josue on September 01, 2023, 04:11:39 AM

#Indonesia - The use of cryptocurrencies as a form of payment has been banned since 2018.

No, actually all payments other than Rupiah (Indonesia Curreny, IDR) can't be accepted, so not only Bitcoin, but also USD, EURO, GBP, or any kind of currency. The rules apply since the Law No.7 concerning currency was passed by the senator in 2011. So not 2018 like your write. Bitcoin so far can be use by public as digital asset, we can buy bitcoin the same as we can buy gold, silver, or any kind asset for investment. Indonesia does not ban bitcoin, we are welcome for bitcoin and other cryptocurrency, Indonesia love bitcoin.

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Quote from: Dr.Bitcoin_Strange on September 01, 2023, 06:00:46 PM

There's a simple parable that says, "No matter how difficult a situation is, there is usually a way out." I know that even in most of the countries on the list, the restrictions or bans that have been placed on cryptocurrency are not really that serious; bitcoiners and crypto users are openly doing their P2P trade, and the government is not doing anything about it, the reason being that they still have a whole lot of other stuff to handle and build the economy of the country. I am just guessing, though, and I know how difficult some of these laws can be but some citizens can still bend the law, and there will be no serious and disastrous penalty. Only citizens from every of those region can tell how it is.

This is true what's more, there was another topic that was somewhat related to this one, in which they talked about how the restrictions towards bitcoin, instead of affecting it, Could be arousing some interest in users, so perhaps the fear that I felt previously due to the use of this, not knowing how the penalties would be, this is changing at the moment in which more people investigate its operation and the different ways that it does not have to go through the radar of the authorities, I think that those who are normally reprimanded are they use centralized platforms to store their assets and to carry out exchanges, if they do not do it this way it is very likely that they can use bitcoin without any inconvenience, just as many do where their country is not allowed to manage these digital currencies.. Of course that before taking risks it is very beneficial to study well how the government is managing this type of capital.

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The Bolivian "ban" is also imo not a general ban. It's a restriction for financial institutions, and thus it's similar to the Colombian "ban". The Wikipedia article cites a Central bank resolution from 2014, but the Central bank doesn't have the authority to ban use of Bitcoin to its citizens. Law 1670 which regulates the Bolivian Central bank is quite clear:

Quote

Artículo 30. Quedan sometidas a la competencia normativa del BCB, establecida en
este Capítulo, todas las entidades del sistema de intermediación financiera y servicios
financieros, cuyo funcionamiento esté autorizado por la Superintendencia de Bancos y
Entidades Financieras.

Source: Ley 1670

In short: the BCB has only "normative authority" over financial institutions. They have "prohibited" crypto-assets several times (last time in 2021) but this refers to this law. So as an user you can use Bitcoin in Bolivia (to the general public, the BCB has "recommended" not to use or invest in crypto-assets), but you cannot found a national exchange, nor can banks facilitate crypto trades.

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Quote from: Obari on September 01, 2023, 11:52:47 AM

I'm shocked my country doesn't fall in this list because on reading your caption, I went straight to search for my country but was shocked not to see it here ad that was when I had to go back and read the thread well.
My country makes it seem like owning bitcoin is a criminal act and there was also an incidence I posted where a woman was harassed because she operated a physical exchange and that draws my attention to a young fellow who also got arrested by the efcc in my country because he always made it obvious of his cryptocurrency holdings and that also has driven alot of fear to the hearts of holders on the country.

Bjt I also agree with op that bitcoin accomolation can't really be banned but rather there might be some very strict regulations against it.

I don't know about you but the actual supposed ban of crypto was to not stop anyone from having crypto in Nigeria because I know very well that some major politicians and some iconic members in the country are also housing some Bitcoin up their sleeves and I would also like to draw to your attention about the numerous BATM that are installed all over Lagos city and the federal capital territory FCT ABUJA which I believe if actually Bitcoin and crypto as whole was banned it wouldn't have been possible. I think what Nigeria has on Bitcoin is only a restriction on the Normal fiat bank not to carry out any transactions that is crypto or Bitcoin related due to the obvious fact that the central bank can't actually track and follow up the Bitcoin transactions.

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There's a simple parable that says, "No matter how difficult a situation is, there is usually a way out." I know that even in most of the countries on the list, the restrictions or bans that have been placed on cryptocurrency are not really that serious; bitcoiners and crypto users are openly doing their P2P trade, and the government is not doing anything about it, the reason being that they still have a whole lot of other stuff to handle and build the economy of the country. I am just guessing, though, and I know how difficult some of these laws can be but some citizens can still bend the law, and there will be no serious and disastrous penalty. Only citizens from every of those region can tell how it is.

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Quote from: Nrcewker on September 01, 2023, 04:42:40 AM

The countries you have mentioned haven’t completely banned the coins. They have just restricted it’s uses, that’s all. These countries don’t like it’s users to use the coins. As they cannot control the coins, hence they just put restrictions on it completely. People still use Bitcoins on these countries, but none of the exchanges provide complete support to cash out the Bitcoins in their nation’s local currency.

In those countries, decrees and laws were issued prohibiting the use of encrypted digital assets (cryptocurrencies) of various types, considering that they are a means of money laundering or financing suspicious activities, in accordance with their decentralized design. These laws apply to individuals and companies. In theory, companies are forced to obey the laws due to financial oversight, but this cannot be applied to citizens.
Citizens in these countries enjoy the services of global platforms without the need to use their bank accounts, as they can convert crypto into cash using the local market or peer-to-peer platforms. No government can stop people from using the Internet on their devices.

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The number one reason why all the governments from the list where Bitcoin banned ban BTC is because of their political ambition if not we wouldn't have seen their Central Bank having an interest in blockchain technology while they are against BTC which introduce to us the functionality of blockchain.
Another thing I notice is that when new innovative technology is introduced things tend to happen slowly at first, before change, and later boom when the internet was introduced is just one of the many examples.

Quote from: joker_josue on September 01, 2023, 04:11:39 AM

How do you think bitcoin users deal with these situations?
How do they manage to get around these restrictions without getting caught?
Do you think, what more countries can join this list?

For every problem, there's always a solution, and the best way that people who reside in the banned country can deal with BTC while also getting around the restriction is determined by the gravity of the restriction and ban introduced by the government.

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Quote from: joker_josue on September 01, 2023, 04:11:39 AM

#Indonesia - The use of cryptocurrencies as a form of payment has been banned since 2018.

Cryptocurrencies in Indonesia are not permitted or illegal if used as a means of payment or as a currency, because only one is recognized as legal, namely the Rupiah, and previously, crypto has never been legal as a legal means of payment in this country until now. But on the other hand, Indonesia welcomes cryptocurrencies and even crypto is legal as a commodity asset that can be traded or invested, with each user taking the risk.

Quote from: joker_josue on September 01, 2023, 04:11:39 AM

How do you think bitcoin users deal with these situations?
How do they manage to get around these restrictions without getting caught?

So far, There are no problems that are so serious for me who lives in one of these countries, Indonesia. Because even here, there is not much use of crypto. but what is certain, we here can use crypto as investment or trading without hesitation because there are already laws that allow it as I explained above, as long as I myself accept all the risks. so it's no problem. However, if one day crypto can be legally accepted as a means of payment, then this will be much better.

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I still feel that this is not a big problem because it has always been there from the beginning and even though there are effects produced, the influence of bitcoin is still very much felt and its users are growing until now.
I will not talk about other countries in this case but I will talk about my country Indonesia.
Indeed, for now bitcoin is still prohibited as a legal means of payment but until now the spread of bitcoin in my country has actually continued to increase and even the government is quite welcoming actually it's just that for payment tools it is not allowed.
But I don't think it's a big problem because as long as there are no harmful regulations then I don't mind if the legal means of payment for bitcoin is not enforced in my country.
On the other hand, why do I say the government is quite welcome to the existence of bitcoin, this is evidenced when one of our governors some time ago attended and became a speaker at the bitcoin conference 2023 (in Miami) and said that they would endeavour to provide mining facilities by looking at their resources and I think that is one form of my country's support for bitcoin.

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Quote from: joker_josue on September 01, 2023, 04:11:39 AM

With that in mind, I decided to do some research on the subject and found an interesting article from EuroNews - Bitcoin ban: These are the countries where crypto is restricted or illegal. The information contained in the article is already a year old, but it allows you to have an overview.

I'll take this opportunity to suggest this wiki, see: Legality of cryptocurrency by country or territory

It covers more countries, is more updated and has citations for the most part.

Quote from: joker_josue on September 01, 2023, 04:11:39 AM

How do you think bitcoin users deal with these situations?
How do they manage to get around these restrictions without getting caught?

Ideally, either they don't touch anything restricted or they actually know what they're doing. But things can change a lot depending on how enforceable the restrictions are/how much does a country care.

This reminds me of an article about Indians moving to foreign exchanges to avoid paying hefty taxes, see: https://www.coindesk.com/policy/2023/01/04/indians-moved-over-38b-to-foreign-exchanges-since-crypto-tax-rules-research-study/

Hope these fellas knew what they were doing since exchanges share information with authorities but then again, I do wonder how much effort the govt is putting in when it comes to effectively enforcing their laws. Who knows they could just be lifting a finger hence even those who suck at hiding their traces will be getting a free pass.

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Quote from: Doan9269 on September 01, 2023, 12:06:54 PM

I think there needs to be some clarification and updates to be made on OP article if this will truly be relevant as expected because some data and statistics were drawn from past years experience on how the government approach the use of bitcoin, mining and the entire cryptocurrency itself, on the same vein, it is better to put it that in most of the countries listed, bitcoin is legal to be used by the people but not as legal tender, which means it's not against the law to use bitcoin but the government doen not support it commercial banks in using it, in these countries, we cannot say that bitcoin is banned, banks are only banned from using it, while only few had banned bitcoin and crypto, countries like india, Ghana Mexico are still soft about bitcoin, Mexico is only regulating mining environmental impact, but they are quite aware people are using bitcoin for transactions.

The article was from a year ago. A year ago also I saw a list of countries banning BTC which only have less than 10 on it. The locals must know more than what we learn on the Internet.

But even so, BTC wasn't banned in many of these countries afaik, as there were just restrictions. I'm sure there will be a lot of changes soon when countries realize that institutions in the US are taking crypto as a digital investment asset. Even China which has the greater influence in crypto in 2017, knows how BTC/crypto plays a role in the future.

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I think there needs to be some clarification and updates to be made on OP article if this will truly be relevant as expected because some data and statistics were drawn from past years experience on how the government approach the use of bitcoin, mining and the entire cryptocurrency itself, on the same vein, it is better to put it that in most of the countries listed, bitcoin is legal to be used by the people but not as legal tender, which means it's not against the law to use bitcoin but the government doen not support it commercial banks in using it, in these countries, we cannot say that bitcoin is banned, banks are only banned from using it, while only few had banned bitcoin and crypto, countries like india, Ghana Mexico are still soft about bitcoin, Mexico is only regulating mining environmental impact, but they are quite aware people are using bitcoin for transactions.

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I'm shocked my country doesn't fall in this list because on reading your caption, I went straight to search for my country but was shocked not to see it here ad that was when I had to go back and read the thread well.
My country makes it seem like owning bitcoin is a criminal act and there was also an incidence I posted where a woman was harassed because she operated a physical exchange and that draws my attention to a young fellow who also got arrested by the efcc in my country because he always made it obvious of his cryptocurrency holdings and that also has driven alot of fear to the hearts of holders on the country.

Bjt I also agree with op that bitcoin accomolation can't really be banned but rather there might be some very strict regulations against it.

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Quote from: pooya87 on September 01, 2023, 07:33:56 AM

Quote from: joker_josue on September 01, 2023, 04:11:39 AM

#Iran - Cryptocurrencies mined outside the country cannot be traded

That makes no sense Cheesy

Whoever came up with this joke had no idea how cryptocurrencies work. There is no such law in Iran and it wouldn't even be possible to enforce it since that would require ridiculously centralized exchanges that store a massive database with a complex blockchain analysis algorithm that can follow the coins that were mined domestically to prevent anything else from being traded LOL

A big joke indeed , and I personally believe that even with the complex blockchain analysis algorithm and other stuffs, they will still be loopholes available for bitcoins mined outside the country to be traded in the country, the person or those who came up with this restriction do not seem to understand the complexity in bitcoins decentralization or the decentralized part of Bitcoin, bitcoins on chain do not state where it was mined, who mined it or what type of machine was used to mine the Bitcoin, all this I stated would have been an easy way the Iran government would have used to enforce this restriction, but unfortunately for them, the block chain does not provide such data, so for me, I think it's near impossibility for such restriction to be enforced.

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Although Bitcoin is illegal in these countries, almost all countries people in these are familiar with Bitcoin and use Bitcoin more or less. Bitcoin is very easy to buy and sell so even if it is banned in a country anyone can buy it because Bitcoin can be bought through PayPal Various exchanges like Binance help to buy and sell Bitcoin and other cryptocurrencies through p2p. So they are not a big problem. Again the country India in your list has validity of other cryptocurrencies including Bitcoin so it is not logical to have india in your list.

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I don't believe that Bitcoin is not exists in Indonesia or Russia. There are so many bitcoin enthusiasts in those countries. There may be other parts of Indonesia that do not recognize Bitcoin. Especially in Russia, because I know many merchants in this country use Bitcoin as one of the options as mode of payment.

Also, as far as I know, in the year 2020, the country of Russia passed a law that recognized cryptocurrency as property, but in terms of payment, it is still banned (https://freemanlaw.com/cryptocurrency/russia/) Then in Indonesia, there are only restrictions in other business industries, such as financial firms(https://www.reuters.com/world/asia-pacific/indonesia-regulator-says-financial-firms-banned-facilitating-crypto-sales-2022- 01-25/)

Topic: Countries where Bitcoin is “banned” - page 4. (Read 792 times)