Topic: The countries banned Bitcoin (Read 564 times)

amid rising bitcoin prices, concerns arose on the security and use side. Therefore, some countries prohibit the use of digital currency as a means of payment and legitimate transactions.
The following is a list of countries that prohibit the use of digital currencies:

1. Nigeria
the country has banned the use of digital currencies since January 17, 2017.

2. China
The Bamboo Curtain has banned the use of digital currency since January 8, 2017 because the People's Bank of China (PBOC) will launch its own currency.

3. Colombia
the country located in South America has banned the use of cryptocurrency since December 31, 2016 ago, for fear of bubble or economic bubble.

4. Taiwan
the country has banned the use of virtual currency due to hacking of bitcoins occurring in the country.

5. Ecuador
the country located on the western coast of South America has banned the use of digital currency since March 24, 2015, because it will issue its own currency.

6. Bangladesh
a country located in eastern India, the Bay of Bengal, South Asia has banned the use of digital currency since September 22, 2014 for fear of money laundering.

7. Kyrgyzstan
Since August 4, 2014, the country has banned the use of virtual currency.

8. Bolivia
The country located in the center of South America has banned the use of virtual currency since June 19, 2014.

9. Vietnam
since February 28, 2014, the country has banned the use of cryptocurrency because it can be used for crime and has a high risk for investors.

10. Russia
since February 9, 2014, Russia has banned the use of virtual currency because it can be used as an illegal activity.

11. Thailand
Since July 30, 2013, Thailand has banned the use of bitcoin because it considers that bitcoin is not a currency.

12. South Korea
South Korea (South Korea) is a country located in East Asia, the Korean Peninsula. Since December 13, 2017, South Korea has banned the use of virtual currency because it wants to control the state finances.

13. Singapore
this small country has banned the use of virtual currency since September 29, 2017 due to constraints arising between financial companies.

14. Indonesia
the plan, will ban the use of bitcoin by 2018 because bitcoin has a high risk of bubble or economic bubble

Irrelevant, a few guys meeting in a hall and discussing bitcoin means nothing while the government is actively shutting down business that take bitcoin payments and issuing fines.


Never happened!


Russia...just ignore every piece of news that comes from that country.
They are worse at flip-flopping than China.


Is that a joke???
China is not using bitcoin for anything!
And further more..."main channel" ? Chinese investors have budgets that exceed all  cryptocoins value and you think they are rellying on crypto?

China currently uses Bitcoin as the main channel for investment. Although China prohibits Bitcoin, there are still many people who invest in Bitcoin. Therefore, apart from the fact that it can only be converted into legal currency, bitcoin is no different from other investments.

Give me a good proof that china and russia have been banished in their country for bitcoin in their country, it's okay if you show proof that you can trust us if you prove to the thread you made. There are so many fake news now so we will not believe in any unverified information and make sure that the truth is what they are saying because you only believe if you do not know the word you do not trust the words.

which i know russia supports cryptocurrency.
What Russia is doing may arise from the awareness that digital cryptocurrency technology will be increasingly used by the people of the future. With positive regulation, they can monitor the cryptocurrency transactions occurring in their country,

well.. eventually some countries will banned it, especially if they dont get something or earn from it... then they will go after or ban it...

The reasons for the prohibition of crypto currency in these countries are very different, from fear and misunderstanding of the principles of work to currency protectionism and the intention to create their own virtual currency. In the list of ten countries, however, this may soon change, as many states have not yet made a formal decision regarding digital currencies.

Countries around the world are showing mixed attitudes toward digital currencies and, in particular, Bitcoin. Western superpowers, like the US and Britain, are positive about the new technology. Some countries, for example, Canada and Australia, are still discussing what to do with Bitcoin and whether it is worth doing anything. And a number of other countries have already decided against digital currencies. We present you a list of ten countries in which the use of Bitcoin is the most problematic.

I think don't any country can ban BTC

The following list of countries that prohibit the use of digital currencies such as bitcoin as a means of payment and legitimate transactions

1. Nigeria, since 17 January 2017.
2. China, since January 8, 2017. Reason: will issue its own digital currency
3. Colombia, since 31 December 2016.reason: worry fraud cryptocurrency
4. Taiwan, since November 3, 2015. Reason: bitcoin hacking
5. Ecuador, since March 24, 2015. Reason: will issue its own currency
6. Bangladesh, since 22 September 2014. Reason: avoid money laundering
7. Kyrgyzstan, since August 4, 2014
8.bolivia, since 19 June 2014
9. Vietnam, since February 28, 2014. Reason: can be used for crime and high risk to investors
10. Russia, since February 9, 2014. Reason: bitcoin is used for illegal activities
11. Thailand, since July 30, 2013. Bitcoin is not a currency
12.marocco, since November 2017
13. South Korea, since December 13, 2017. Reason: to control its finances
14. Singapore, since 29 September 2017. Reason: arising constraints between financial companies
Nepal, since 2017
16. Indonesia, the ban applies 2018. Reason: high-risk natural bubble
17.Israel, starting 2018.

The crypto world will soon enter every life, every person on earth! I see how bitcoin and the crypto world are developing, and this can not be stopped! some countries prohibit bitcoin, but this is not for long. soon they will realize that they are missing a very good opportunity for economic development! People want to counter money, hence the limitations!

NEWS ...

Court Strikes Down Ban on 40 Bitcoin Websites in Russia .

https://twitter.com/Bitcoin/status/969287480833802240

I think Bitcoin is not be banned but more regulated, because the country saves the people from losing the real money.

More people in the world are after to profit how much more if we talk a country. It is not an easy issue for a country to banned bitcoin. They will present the advantages and disadvantages in the present and in the future of crypto toward the people and toward the country. They will survey the people if it will be helpful or a harmful. If they see that more advantages is in bitcoin toward their treasury then they will not banned it, but if there are more disadvantages they will close the door to bitcoin and reopen it if the advantages is for them.

The news is not fake but still, people can freely use any cryptocurrency they want. India is also suffering from the same misunderstanding government has banned Bitcoin and another cryptocurrency from higher authority where it will not be taken as a real currency all it will not have the actual value in the country but still common people can use it for whatever purpose the like, of course, they have to pay some amount of income tax on it if they are going to use it for business purposes. IRS will not leave you on this.

Didnt korea ban it also? im sure there was a small crash and news about it?

I don't trust any replies in here, so inm my eyes bitcoin is ok everywhere, the only point is that it might be regulated a bit in some countries.

I invest and basically I think while it grows it is necessary to invest further it will probably rise to 30-50 thousand dollars.

This picture may be a sign that Indonesia is beginning to recognize blockchain technology. Crypto activists in Indonesia began to campaign technology to various agencies and campuses.

It is sad to know that other countries are banning bitcoin. Our country is still supporting bitcoin. I hope that other countries will be supporting bitcoin in the future. May their government is not yet fully educated about bitcoin.