Bitcoin Forum

I heard that some countries banned Bitcoin and 2 of them are China and Russia because the goverment think that Bitcoin deals are speculative, and the currency is always risky. But is it correct because there are a lof of Chinese use Bitcoin now?

I don't think they are banned I heard they are just regulated in China and Russia

its fake news
in russia all is ok

in china too :)

feel free to use crypto there

No, its not fake news. China did banned the use of crypto, but it doesn't mean people can be stopped accessing their coins. Actually what China did was to banned all the miners and exchanges in their country.

I think china only banned ICO and not the whole cryptocurrency if im not wrong. In the case of russia, there is no news that indicates the ban of cryptocurrency in their country. If that is the case then that would be a huge upset in cryptocurrency since russia is also has bigger contribution in cryptocurrency.

china ico is live on neo platform from 15jan

apex
thekey
and others all is chinese ico

Could you provide us with sources where have you got this information? To my knowledge they haven't banned them completely but rather are looking into ways to regulate them. In my opinion they know that its not that easy to simply ban cryptocurrency as people will use them anyway. Also I have been reading that some miners are looking to move to Russia which doesn't sound like a ban to me.

These ICO's are from China, come to think of it. China is banning those currency that doesn't originate from them. Thus, only allowing ICO's that was made by their people.

have you all ever question why countries banning bitcoin now?? in my opinion many country now more aware to cryptocurrency because the price is high and it potentially to bring big income for country. so they wanna taxing crypto but they did not find a way. so they banned it.

Actually some countries have find ways how to tax the cryptocurrency user. I believe the US and UK are one of them. BTW, even a country can impose a ban, it doesn't necessarily mean that the people will follow.

No country can ban bitcoin effectively. They would have to possess private key to adresses. Bitcoin is such smart P2P currency that they will not break it. It will survive.

I don't think so. The bitcoin was not banned, but it has just handled by two big governments (China and Russia) that is firstly investors of bitcoin. Actually, they have banned the bitcoin because there are many hackers that want to come in bitcoin system. So, the governments handled it until the troublers who made bitcoin risk calms down and turn back to the normal regulation.

In India, cryptos are neither regulated nor irregulated, recently government suspended some of india's Bitcoin exchanges bank accounts too.

A lot of Chinese Bitcoiners will move from their country after all of that. This is the only right way. Same with russians.

Bitcoin is not banned in China and Russia, there are just some restrictions, especially this relates to chines trade exchanges. Bitcoin is fully banned in South Korea.

this issue last year 2017 banned the cryptocurrency exchange and i heard this early january 2018 china government want to banned also the mining if i'm not wrong, i we should know cryptocurrency or bitcoin are decentralized currency using the internet connection so i think even the government want to banned bitcoin in their country people continue to work in bitcoin the reason is because have many country can use bitcoin to buy anything in online market then accept bitcoin as payment.

In September of last year, Chinese authorities ordered the closure of stock markets at all Bitcoin, which was operating in their country.In the same month, their central bank began identifying individuals and companies who had sold their digital money and sought to raise money through it.It also declared that doing so was illegal.

Hi,

In fact, neither China, nor Russia have banned bitcoin. There are regularly press release, stating that such countries are going to design a new legislation in order to ban cryptos..

BUT since then, it has never been adopted. Maybe because some members of these governments are involved in cryptos and they don't want to lose their assets, maybe because crypto is not such a priority, maybe because such governments are rather betting on annoucement effect than real implementation...

There are many explanations possible here.

What I know is that for the moment, there is no active ban and I would even say no upcoming ban to fear! ;)

not just china
there are colombia, ecuador, bangladesh, singapore
and each country has its own reasons
china: forbids bitcoin for wanting to create their own digital currency
colombia: considers bitcoin as a fraud
bangladesh: avoid money laundering
and the latter Singapore: forbid because it is considered will cause inter-company constraints
and many more, I can not mention them one by one

Not only China and Russia, but my country Indonesia also banned bitcoin. But I explained that the ban is only directed to the use of a medium of exchange only, if for ordinary trading may still be allowed, so naturally when in China there are still people who use bitcoin.

China is one of the few countries to restrict the use of Bitcoin and prohibit financial institutions and banks dealing with Bitcoins. In December 2013 notice by the Central Bank of China, Bitcoin was dubbed the "Virtual Commodity" and its use as a currency of despair.

Many countries banned bitcoin , for our country philippines it's illegal because of they think bitcoin uses illegal stuffs or what so ever and lack of knowledge and understanding what is bitcoin. And back to topic russia , china and including the indonesia government banned it because somehow the marketplace going low though , and I put down some links below I hope it can help. .

This link shows why : https://www.theguardian.com/technology/2018/jan/17/bitcoin-continues-slide-drop-russia-china-regulatory-fears-cryptocurrency

It is true that they banned bitcoin in russia and china. But not actually a ban like they will erase the authority of that coin entirely in their country. Look at binance, that was a China based platform. It is standing still, and right now it is the number 1 exchange. Great work for them and it's good to see that it is still standing after the "ban." So it's just a regulation not a ban.

No, Russia has not regulated bitcoin. In where have you read that bullshit?

Just China tried to regulate it as much as they could, but they are never going to stop the usage of bitcoin, because how can they know who is really "using" it? Are you dumb?

Nepal Bangladesh both the country in Asia banned bitcoin

China has just banned ICOs and exchanges.
It did not ban BTC possesion , it did not banned BTC itself.

As for Russia, Russia didn't ban anything at all.

But also, there are almost close to zero Chinese using bitcoin. Their number in insignificant.


And all of you should understand that preventing payments to take place in BTC does not mean a total ban.
Yes, it's pretty bad but it's still not a ban.


Source for this crap???


No they didn't!!!!!!



Exquisite company, the most advanced countries with the happiest citizens in the world

it is not important the government ban Bitcoin or not. people can trade in the international exchanges. we shoult not be too worried with the bad news from the market. they just wanna dump and buy with cheap price

I read the news that China is banning miners because they are abusing electrical permits. I am fed up with negative issues, and this makes everyone panic.
only courageous people survive and take advantage of this situation.

I think Bitcoin is not be banned but more regulated, because the country saves the people from losing the real money. Many country and government have a warning to Bitcoin about volatility, the scamed ponzy and other negative about Bitcoin. Maybe if goverment and other country know the truth and benefit of tech Bitcoin blockchain, they will be legal for Bitcoin.

China and Russia banned crypto currency but it doesn't mean that those countries citizens are going to stop  trading bitcoin. And I recently heard that Ecuadorian government ban all kind of decentralised digital currency due to the establishment of a new state- run electronic money system .

Some countires are still deliberating on what to do about Bitcoin, legally. And many others have already made their decision against digital currency as a whole, and bitcoin, in particular, so here I’ll gave you some places where bitcoin is illegal. first is bangladesh, china, Bolivia, India, Russia and many more. These countries make bitcoin illegal because i think that  they were fear, and ignorance to protectionism of their national currency, to building a new currency in bitcoin’s image.

they can ban it but they can destroy it. Bitcoin still live and there are so many countries in the world where welcome Bitcoin such as America, Canada, England,... So, we can believe the future of Bitcoin

nepal Bangladesh banned bitcoin in large way

Bolivia
The central bank of Bolivia, El Banco Central de Bolivia said in a statement:

“It is illegal to use any currency that is not issued and controlled by a government or an authorized entity.”

China
It is a common misconception that bitcoin and digital currency are totally banned and illegal in China, but China has become the world’s largest bitcoin trading market. The bitcoin ban is strictly on banks, as the central banking authority, The People’s Bank of China is owned 70% by the Chinese government. Banking institutions and employees are banned from engaging in bitcoin business through banking, as well as servicing or doing business with the bitcoin industry. Trading or mining in bitcoin is not illegal for common citizens.

Ecuador
The ban by Ecuador makes the most sense of any ban, as they are building a national electronic cash system, so they feel the need to protect their new currency from something clearly superior. A decentralized currency of finite production that cannot be manipulated by governments or banks might dim the lights on their new program in the eyes of the public, which offers none of those benefits.

Iceland
As of March 19, 2014 the Central Bank of Iceland issued a statement explaining the legal status of digital currency in Iceland. Purchasing them may violate the Icelandic Foreign Exchange Act, which specifies that Icelandic currency cannot leave the country. A nebulous designation, but it sounds like it is banned, in effect.

India
Indian BankBTCXIndia was the first bitcoin exchange designed and built in India. While following KYC and AML guidelines, and allowing instant INR (Indian rupee) deposits and withdrawals, BTCXIndia was forced to close by their bank, which no longer services bitcoin businesses. The reasons are unknown, whether it is based on a perceived risk or just a simple ban by management, but the issue is widespread in India.

“We have today been informed by our bank that they will no longer serve bitcoin businesses,” the notice stated. “We have investigated the possibility to operate through other banks, but it seems this is a general policy in India as of today.”

Russia
Even with the recent legal victory in Ural recently, setting a legal precedent to lift the banning of websites related to bitcoin and other digital currencies, bitcoin is banned in practice, if not officially legal yet. With the Russian ruble rebounding, but still down over 30% from January 2014, banks and the national government aren’t looking kindly on those who are investing in other currencies, digital or not.

Gold purchases are frowned upon in Russia, so proceed with caution.

Sweden
Bitcoin has suffered a small banning in the buying and selling of scrap metal and “waste products”. This sets a bad precedent of government interference for the future, but so far the ban is restricted to this industry by all accounts.

Thailand
According to news reports, the Bank of Thailand ruled bitcoin illegal on July 29, 2013. However, it appears “it issued a preliminary ruling that using bitcoins . . . was illegal because of a lack of existing laws” in the case of a currency exchange license application by Bitcoin Co. Ltd.

Bitcoin businesses have been able to conduct business and get licensing, but the ban technically is still there, if not in practice currently.

Vietnam
Back in February of 2014, Vietnam banned the virtual currency bitcoin for use by credit institutions, citing its ease of use for criminal purposes and its high risk for investors.

“Transaction by bitcoin is highly anonymous so bitcoin can become a tool for crimes like money laundering, drug trafficking, tax evasion, illegal payment,” the central bank said in a statement

The central bank tells that the trickery and go themselves invest on bitcoin without saying anything a person as usual >:(

In my opinion, not all countries have banned the bitcoin, someone is working with them. often on TV show about them!

I think that's false news, because users in china are almost 100℅, I'm a bitcoin actif user myself, until recently,

Did Russia ban Bitcoin? I read somewhere that some banks there are supporting bitcoin and crypto.

Yes as I know bitcoin is not fully banned in these countries, why people here are spreading this misleading info?

Well according to my observations these countries have banned bitcoin because they think that the use of bitcoin would someday make their national currencies obsolete abd that it hasn't helped theur economy. Anyways, I don't think that Russia did banned bitcoin because bitcoin is propering greatly there with banks and establishments that support bitcoin-natured payments.

as far as I know, Russia did not prohibit bitcoin. just did not allow it)) at the moment, bitcoin is banned only in India, well, probably in North Korea) that would prohibit bitcoin, it is necessary to ban the Internet, and it is almost impossible

The restriction of bitcoin is something I really do not care about. In my own country, the government has put in place measures to prevent bitcoin. But people in my country still talk about bitcoins in the streets and no one in the country is arrested.
And I think the crypto market will not be affected too much unless the whole world is against the BTC.

The countries banned in bitcoin
1.CHINA because the republic of peoples in China announced in 2017 that the country will use their own digital currency
2.NIGERIA also banned bitcoin the bank of nigerian informed that all transaction in bitcoin and other virtual currencies has been banned in nigeria
3.EQUADOR the bitcoins has been entirely banned and to fill the void the government has declared an intent to issue state-backed cryptocurrency.
4.THAILAND the virtual currency in bitcoin has been banned in thailand, according to a prominent bitcoin exchange that operates in the southeast asian country.
5.VIETNAM  banned the virtual currency bitcoin, citing its ease of use for criminal purposes and its high risk for investors.

So they think that crypto currency does not help their economy? Maybe because bitcoin don't have tax that's why they other countries think about it, but bitcoin really help economy if they study about it.

These countries didn't ban bitcoin but they try to regulate it strongly because bitcoin let ordinary people to become rich

For me both countries are banning bitcoin in russia and china but not a ban as they will remove the coin's authority completely in their country. In china country is a platform based in china still stands and as the number one exchange in the world. 8)

From what I can gather, is that Boliva, Ecuador, Kyrgyzstan, Bangladesh, Nepal and Morocco have banned Bitcoin. Reasons range from not being regulated by the government to not being able to track BTC transactions.

Well, many countries declares banned bitcoin aside as those mention like Indonesia, South Korea. China partially ban bitcoin meaning they can access few coin exchanger site at a moment to exchange there money for the investors of mining were China has number one contender in bitcoin mining. This recently news that China declares a total banned for all cryptocurrencies to eliminate illegal digital coin. Giving respect to there national currency to increase in economic stability in there country.

As for  south Korea, yes they  were looking to place a ban on crypto-currency, but instead they changed their notion.  In a video posted to the presidential website South Korea’s minister of Governmental Policy Coordination, Hong Nam-ki, said the government would look at making cryptocurrency trading more transparent, instead of banning it outright, as previously feared. I think most countries who are raising dust about banning crypto-currency, will later come to this same conclusion.

Most countries threatning to ban crypto-currency such as Indonesia and China are  doing it not because  they feel crypto-currency is bad, but they do it because it poses as a threat to the stability of their  national currency.

The cryptocurrencies market in China is currently the largest. The amount of bitcoin, as well as the altcoins, are concentrated in the country so you can see that the Chinese New Year is strongly influencing the Bitcoin rate, the market is always dumping because so many cryptos sellers to buy cash.

because some people want to see bitcoin fall off for a certain purpose, if you're in a bitcoin world you should begin to realize that there are many rumors and issues that are always there and turning around here, you have to start learning not to get swayed on the issue because maybe it is a hoax and make you lose, such as the news that one country forbids bitcoin but there is no statement whatsoever from that country, the improtant thing is keep calm and do research before deciding the action

Usually the government is banning Bitcoin just want to make sure the entry point to buy BTC at the lowest price

And sell it when the price has bounced

I don't think there's a point in banning anything. No matter what it will still happen. They just need to catch up on how to regulate it

Drama
they play the authority to give shape to BTC Wall
I do not want to be consumed by an issue stating that BTC will close unless the BTC price falls below 2k US...

When governments ban crypto, I think they do so because they want to create fud and prevent mass adoption of crypto as a form of currency. Some say it's because they want to benefit themselves in doing so, crashing the markets to buy lower.

These are my sentiments too. It has worked time and again. Bitcoin refuses to stay down when it crashes and they have seen that, therefore they create fud, buy on the dips and make money. If you are a smart investor, you will buy the dips and hold for dear life.

I have the same feeling states do not really want to ban crypto but they want have control of it. It's  why they try to scare people to take control and make money on it

Government concerns in some countries will cheat taxes, worry about Cryptocurrency scams, bitcoin hacking and avoid money laundering. Tension in the digital currency is an important point of global demand for digital currency transparency.

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.

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.

https://i.imgur.com/dYrXlVw.jpg

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

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.

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

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.

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.

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

NEWS ...

Court Strikes Down Ban on 40 Bitcoin Websites in Russia .

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

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!

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.

I think don't any country can ban BTC

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.

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.

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...

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,

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.

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.

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?

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