You can find this information on google. But I did it already so here is their reasons.
Bolivia - the Central bank officially admitted all currencies produced and regulated not by the government as illegal.
Island - they admitted bitcoin as foreign currency, there is a law about foreign currencies by which they can't be used as payment instrument in the country.
Ecuador - the government forbid all operations with crypto currencies and allowed to allowed to themselves to realize transactions in their own "electronic money".
Kyrgyzstan - the use of bitcoin is illegal (but there is no law which forbid crypto trading), the only legal tender in the country is Kyrgyzian Som (KGS).
Bangladesh - here the use of bitcoin can lead you to the jail, all this made to fight against money wash in the country.
As you see every country has something own with relationships with crypto currencies. But we can sum all this reasons to make a full picture of why countries ban bitcoin.
Topic: why some country banned bitcoin? - page 34. (Read 10264 times)
Some countries are so threatened about bitcoin due to its many uses. Some countries are fast enough to conclude that existence of bitcoin in their country would affect their economy and would be a threat for their government. They did not realize that it can help their people. They also think that bitcoin can also be a source of criminality in their country because of the anonymity of transactions here in bitcoin.
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
I think bitcoin is against the bank. Do you also think like that? that's just my opinion. maybe here are still many who understand better than me.
BTC transactions are encrypted and while they can be tracked by involved parties, bitcoin provides a way to keep money and transactions away from the prying eye of the regulators.
“There is a risk that it could be used to fund crime or illicit terrorist activity — another reason is that it can be a route to circumvent capital controls
As another example,The People’s Bank of China has claimed that ICOs were a threat to the financial markets’ stability. Thanks to its decision to make ICOs illegal, the bank now has power to “shut down any exchange it wishes for violating their ruling.It seems Not having a regulated body for exchanging is the main reason that some countries consider when banning bitcoin.
“There is a risk that it could be used to fund crime or illicit terrorist activity — another reason is that it can be a route to circumvent capital controls
As another example,The People’s Bank of China has claimed that ICOs were a threat to the financial markets’ stability. Thanks to its decision to make ICOs illegal, the bank now has power to “shut down any exchange it wishes for violating their ruling.It seems Not having a regulated body for exchanging is the main reason that some countries consider when banning bitcoin.
Federal government cant place income taxes to it and a few individuals apply it Black Market.
yeah I think that is the most rational reason that happens today, the government will not want to see bitcoin operating in their country while the government can not control and benefit from taxes, thus making the government prohibit the use of bitcoin in their country,,
Countries banned the virtual currency bitcoin, citing its ease of use for criminal purposes and its high risk for investors.
Some countries banned bitcoin maybe because they saw bitcoin as a threat. But if we prove to them that bitcoin, the first digital payment system, is safe to use, good for investing, and also can make the country successful , maybe oneday the government will realize that bitcoin can be acceptable to every transactions.
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
In my opinion countries who banned bitcoin maybe because they were afraid that those people who belong in the bitcoin world would quit their real job and start to full time in bitcoin in this case government cant benefit taxes that an employee can give to the government because no one can control with bitcoin due to its anonymomity of users.They dont totally understand the positive effect of bitcoin in all levels of the society which enables a person to get an extra income in this kind odf business.is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
In my opinion countries who banned bitcoin maybe because they were afraid that those people who belong in the bitcoin world would quit their real job and start to full time in bitcoin in this case government cant benefit taxes that an employee can give to the government because no one can control with bitcoin due to its anonymomity of users.They dont totally understand the positive effect of bitcoin in all levels of the society which enables a person to get an extra income in this kind odf business. is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
A lot of countries don't ban bitcoin. A lot of the countries that do have central banks and bitcoin is a direct competitor to the government controlled FIAT printing machine they have.
Some countries also have more freedom than others, comparing European country to maybe one in Africa controlled by a dictator. If that dictator likes bitcoin he can allow it, or maybe he hates it and doesn't.
because they cant controll bicoin . n taxs, no infromation about cusomers . Now they suspend to exchanges . tomany exchanges take their guielines to confirmation customersd tto
This question may already be very detailed answer, and I just want to use a simple metaphor to express my point of view: anything in this world must be some people like it, some people do not like it, not all people like a thing Without an opponent
Some countries do not inaugurate bitcoin in their country. I think bitcoin is banned in some of these countries because the government can not levy a tax on bitcoin income.
I didn't know that bitcoin was banned to other country. Maybe they banned bitcoin because of the wrong practice, like they sell it in a very low price, they use it to purchase something that is not good. So as long as bitcoin is not banned to our country, used it in a right way, spend it in a right way. Because not all the time there is an opportunity so grab it once and do not abuse it.
They banned bitcoin because they fear for the possible things to happen in their country if they will tolerate the use of bitcoin because most of the huge crimes could possibly involved with bitcoin and that gives them idea to just ban bitcoin to avoid future complications in their country but i think that in the future, when they see bitcoin is being accepted by most of the other countries then it will change their mind and they will remove the ban for bitcoin. bitcoins is banned by some country especially if that country is a 3rd world country, they are not open to cryptocurrency and most of the physical stores do not accept payments thru online, lack of internet, basically they do not have enough knowledge or afraid to accept bitcoin in their financial market.
May be very little number of countries have banned bitcoin, but I think that most of the countries do not have taken any official decision about bitcoin. May be they still do not feel the need to take any decision about bitcoin. In future when the bitcoin users will increase then we can expect that they will take decision, either to consider bitcoin as legal currency or illegal. 
I didn't know that bitcoin was banned to other country. Maybe they banned bitcoin because of the wrong practice, like they sell it in a very low price, they use it to purchase something that is not good. So as long as bitcoin is not banned to our country, used it in a right way, spend it in a right way. Because not all the time there is an opportunity so grab it once and do not abuse it.
Legal status of bitcoin varies substantially from different countries. Some countries banned bitcoin because they are not considering electronic currency as a medium of exchange. In the entire world not all countries are well develop and can go with flow of modernization so it can be considered another factor as well. Resulting to lack of knowledge what is importance of bitcoin in the society and its worth.
i think the main reason is that government cannot control bitcoin
and bitcoin can be used as money laundry if its missed used
and bitcoin can be used as money laundry if its missed used
Some countries banned bitcoin because the price of bitcoin is volatile. No one can control it
Some country wants to control there economy. Since, Bitcoin is not yet regulated it would be hard for the country to control their economy specially when there country has the big contribution in investing in bitcoin. Bitcoin price is very unpredictable,I dont know but I see this as main reason the country must be afraid of since income per house hold has a big income in there economy. Through investing and trading in bitcoin have a very wide range in money tranfer all over the world and this could cause chaos if Bitcoin will go perish or disappear in no time or has no value at all. For preventing this to happen a country might banned bitcoin transaction in there premises.
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