Why bitcoin is not supported in some countries?

[vohoanghiep5555]

I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me

I think Bitcoin does not support in some countries because they lack access to Bitcoin like the internet, access tools, and Bitcoin knowledge.

[1714804263]

1714804263

[kidoseagle0312]

I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me

In some country they banned bitcoin, and other nations why they're supporting it because they thought bitcoin was a threat to their
business and can have a conflict once they adapt bitcoin, just something like that.

[Rhosadah]

To my knowledge why many countries still reject Bitcoin and have not been declared illegal in most countries. Although there are some countries (such as Argentina and Russia) that strictly prohibit foreign currency.Other countries (such as Thailand) restrict certain currency entity entities such as Bitcoin exchange.

Policymakers from various countries are taking steps to provide individuals and businesses rules on how to integrate this new technology with the rules of the formal financial system.For example, the Financial Crimes Enforcement Network (FinCEN), a bureau at the US Treasury, publishes a freelance guide on how governments handle certain activities related to virtual currency

[ultrloa]

I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me

In some country they banned bitcoin, and other nations why they're supporting it because they thought bitcoin was a threat to their
business and can have a conflict once they adapt bitcoin, just something like that.

Bitcoins gives national conflict on each banking system on all countries thats why some other countries banned their country men to used this coin, But their banned implementation has not been totally cast since there are several people who came from banned countries still using it since they know they can get more benifits unto it and rather can earn more money from staking and job hunting with the help of this coin.

[totaleclipseofthebank]

my country is not supporting anything like drugs/bitches
bitcoin is accepted as well in my country so

In my country, bitcoin is also considered legal currency but because very few people know and care about it, it is still not recognized and used. I hope everyone will soon realize the benefits of bitcoin so that bitcoin can be used in my country.

Because there are not many people like bitcoin in your country, the government do not abandon it. I can ensure that once there are many people get into bitcoin, the government will promulgate some regulation and restriction to avoid people using this cryptos

[Reid]

my country is not supporting anything like drugs/bitches
bitcoin is accepted as well in my country so

In my country, bitcoin is also considered legal currency but because very few people know and care about it, it is still not recognized and used. I hope everyone will soon realize the benefits of bitcoin so that bitcoin can be used in my country.

Because there are not many people like bitcoin in your country, the government do not abandon it. I can ensure that once there are many people get into bitcoin, the government will promulgate some regulation and restriction to avoid people using this cryptos

That is true.
Be wary once it is being populated.
This might change the fact that it is a free currency. There will be making some rules which you wont expect and they will be enforced with speed.
Once a lot of money is at stake they will want to have a part of that too.
This aint new considering they have done it with other commodities.

[Japinat]

my country is not supporting anything like drugs/bitches
bitcoin is accepted as well in my country so

In my country, bitcoin is also considered legal currency but because very few people know and care about it, it is still not recognized and used. I hope everyone will soon realize the benefits of bitcoin so that bitcoin can be used in my country.

Because there are not many people like bitcoin in your country, the government do not abandon it. I can ensure that once there are many people get into bitcoin, the government will promulgate some regulation and restriction to avoid people using this cryptos

That is true.
Be wary once it is being populated.
This might change the fact that it is a free currency. There will be making some rules which you wont expect and they will be enforced with speed.
Once a lot of money is at stake they will want to have a part of that too.
This aint new considering they have done it with other commodities.

The government has to do what they think is right but big countries like japan and china can lead as an example that bitcoin is not a threat but in fact it will help to improve the economy of the country. I wish in the future to come some countries will see bitcoin as a good one including those who previously ban it, they have to review bitcoin as it could be a blessing to improve their economy.

[DoublerHunter]

my country is not supporting anything like drugs/bitches
bitcoin is accepted as well in my country so

In my country, bitcoin is also considered legal currency but because very few people know and care about it, it is still not recognized and used. I hope everyone will soon realize the benefits of bitcoin so that bitcoin can be used in my country.

Because there are not many people like bitcoin in your country, the government do not abandon it. I can ensure that once there are many people get into bitcoin, the government will promulgate some regulation and restriction to avoid people using this cryptos

That is true.
Be wary once it is being populated.
This might change the fact that it is a free currency. There will be making some rules which you wont expect and they will be enforced with speed.
Once a lot of money is at stake they will want to have a part of that too.
This aint new considering they have done it with other commodities.

The government has to do what they think is right but big countries like japan and china can lead as an example that bitcoin is not a threat but in fact it will help to improve the economy of the country. I wish in the future to come some countries will see bitcoin as a good one including those who previously ban it, they have to review bitcoin as it could be a blessing to improve their economy.

It will take time for the other country to realize that bitcoin is a good currency because they only focus on the things that they saw that is wrong while they didn't look for the good things that bitcoin has. That is life because even you made a 100 good things and you only made a 1 mistake, then mistake will become the center of attention. Bitcoin is being used in some illegal activities and that is why they only think that bitcoin is a bad currency for their country and they didn't think that bitcoin is a good currency because of its fast transaction and also cheap fees.

[The Monkey King]

Because bitcoin is very usable and it useful in many countries that is technological and very ineed of money for many are in need of money.People use bitcoin for many ways and it is very possible to be famous in whole world.So Governments allow and support country.

[EthBooks]

Bitcoin is not illegal because it poses any risk to the citizens of the countries where it is banned. Rather, it provides an alternative, open, P2P monetary system (and an exit for some) which is seen as a threat to their centrally-controlled, legacy monetary system. Some of the countries where btc is banned include:

1.Vietnam
2.Iceland
3.Bolivia
4.Ecuador
5.Kyrgyzstan
6.Bangladesh

[SaShiRaJaVu]

risk of money laundering, proceeds from or funding of terrorism/crime, fraud

This is correct, money laundering and fight against financial crimes are the reasons for banning bitcoin, yet some of the countries ban bitcoin only not to lose tax. This is not fair clearly. To me, bitcoin should ve accessible by anyone in the world.

The countries who tried to ban bitcoin are just plain stupid as they did have not have anything better to do and they did not have the brains to understand the technology rather shut down the entire thing,the reason you said are not true to get a ban and most of the countries does not have a rule or law regarding bitcoin and other alt coins.

[warrior333]

Bitcoin is not illegal because it poses any risk to the citizens of the countries where it is banned. Rather, it provides an alternative, open, P2P monetary system (and an exit for some) which is seen as a threat to their centrally-controlled, legacy monetary system. Some of the countries where btc is banned include:

1.Vietnam
2.Iceland
3.Bolivia
4.Ecuador
5.Kyrgyzstan
6.Bangladesh

What it means in the country to ban bitcoin? If you live in Vietnam, varies bitcoins on the Japanese stock exchange and using the dollars they print to the Bank card in the national currency. How can you deny such an operation? I don't believe it.

[epitome]

@EthBooks so does that mean that only six countries have banned bitcoin out of two hundred plus nations ,that is a really good news,i thought there are more countries in that list,most of the countries are planning to make some regulations and hopefully most of the countries will either regulate or legalize bitcoin in the coming years.

[sahiaman]

Russia and INida been examining the currency but now several nation are accepting it widely

[jennywhzz]

Russia and INida been examining the currency but now several nation are accepting it widely

China,Japan and a lot more accepted it,though it might not be implemented or announced by the government in other countries it still allowed to be used by any country as long as they want to.

Many countries are officially accepting the bitcoins as they know and can forecast the important of early adoption of bitcoin in their economy. The rest of the countries which are opposing bitcoins will soon realize this as their biggest mistake.

[yadi cihuy]

Many people have known bitcoin lately and many of the world's policymakers already know about digital currencies like Bitcoin, but many of them have not made laws or legal rules about digital currencies because of the complexity of digital currencies like Bitcoin.
Therefore, from late 2013 to 2014 many warnings and directives from central banks and financial policy-making authorities in various countries have warned that Bitcoin has not been recognized by the state as an investment asset, instrument of payment, or a legitimate currency. Some of the institutions are anxious about the stability of the country's financial system, if large-scale adoption of Bitcoin occurs.
But as time passes, some countries begin to look at Bitcoin and digital currencies with different perspectives, and try to impose rules on the digital currency. Typically, regulation is not something that all parties support. But in the case of Bitcoin, regulation is a gift. Bitcoin regulation is something that the Bitcoin community has around the world.

[megynacuna]

Well most of these countries see Bitcoin as a threat to their national currencies especially the central banks and so they do everything within their power to fight against it becoming a legal tender within their jurisdiction. Secondly Bitcoin operations require consistent internet and computers or smart phones so poor countries suffer in this regard.

[doomloop]

my country is not supporting anything like drugs/bitches
bitcoin is accepted as well in my country so

In my country, bitcoin is also considered legal currency but because very few people know and care about it, it is still not recognized and used. I hope everyone will soon realize the benefits of bitcoin so that bitcoin can be used in my country.

Because there are not many people like bitcoin in your country, the government do not abandon it. I can ensure that once there are many people get into bitcoin, the government will promulgate some regulation and restriction to avoid people using this cryptos

That is true.
Be wary once it is being populated.
This might change the fact that it is a free currency. There will be making some rules which you wont expect and they will be enforced with speed.
Once a lot of money is at stake they will want to have a part of that too.
This aint new considering they have done it with other commodities.

The government has to do what they think is right but big countries like japan and china can lead as an example that bitcoin is not a threat but in fact it will help to improve the economy of the country. I wish in the future to come some countries will see bitcoin as a good one including those who previously ban it, they have to review bitcoin as it could be a blessing to improve their economy.

  bitcoin is spread in all over the world people are aware of it and they knows how to make it more popular as its dependent on internet and if bitcoin is not supported in some countries the reason could be the same that may be they don’t have proper internet connection or may be the government is not accepting its reality.

[HeRetiK]

Russia and INida been examining the currency but now several nation are accepting it widely

China,Japan and a lot more accepted it,though it might not be implemented or announced by the government in other countries it still allowed to be used by any country as long as they want to.

Many countries are officially accepting the bitcoins as they know and can forecast the important of early adoption of bitcoin in their economy. The rest of the countries which are opposing bitcoins will soon realize this as their biggest mistake.

I think a lot of the acceptance also stems from the fact that there's little to be done anyways. Putting Bitcoin in a legal framework is easier than fighting an uphill battle against the internet.

[Roboabhishek]

Bitcoin is not supported in other countries because they protect their own currency. They afraid that their currency is down. The government is fear, they want to protect their own currency.

No that is not right that they restrict bitcoin because to protect their own currency but the actual reason is that they are of the opinion that with bitcoin some criminals will start their crimes and we will not be able to trace them with their financial activities.

Yes, it will be quite sad for me to hear that they banned bitcoin because of some fraud and illegal activities they should consider the good use of bitcoins.
Even if they legally restrict the use of bitcoin there's no guarantee that criminals will stop using it.