Bitcoin Forum

Crypto News: Top Countries that Have Put Restrictions on Cryptocurrencies

The new financial technology called cryptocurrency has gradually filled the financial markets of different countries. While some governments are happy to embrace fintech trends, others are rather watchful. A number of countries have already tried to either regulate or ban digital currencies.

The harshness of regulations put on virtual coins is quite varied. Some countries put restrictions on using crypto coins as legal tender and others, such as China and Indonesia, ban crypto exchanges an ICOs.

However, some countries went even further in their cautiousness of digital currency. One may get in prison for performing any kind of a cryptocurrency transaction in several states, including Nepal, Bolivia, Bangladesh, and Algeria.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/top-countries-put-restrictions-on-cryptocurrencies/

https://coinidol.com/upload/resize_cache/iblock/be3/900_900_1/be384c5c6537147b3a0b18f4067581d4.jpg

Nepal, Bolivia and Bangladesh aren't exactly flagbearers for freedom as well. It is no surprise that these countries feel threatened and impose restrictions on cryptocurrencies. Beyond some point, citizens will stop heeding unrealistic laws imposed by their governments.

I saw the interview with the Reddit founder, and he said that Bitcoin is more needed for less developed countries because of instability issues. Seems like this, less developed countries (except for China) are trying to put some restrictions.

I bet officials in Nepal don't even know what blockchain technology is or how it works. They are corrupt to the core and they feel threatened by the new development.