Countries Banning Crypto Currencies

[Fatemablabla]

Are you sure bangladesh has banned it?im from there i havenot heard anything about it.

[perrysaico]

These countries will soon realize the mistake they are making. Eventually they will the ban when they feel
being left out

[buyinbtc]

As bitcoin becomes more and more mainstream I believe these countries will lift the ban, especially if their economy in said country is collapsing.

Of course they will remove bans, but it requires lots of people to use bitcoin as currency, in these countries and rest of the world. It's important that they would use it as a curency instad of investment as otherwise huge stores wouldn't accept bitcoins and it would be harder for bitcoin to become more popular.

[eaLiTy]

Are you sure bangladesh has banned it?im from there i havenot heard anything about it.

If i remember correctly Bangladesh is one of the first countries that banned bitcoin and the use of other cryptocurrencies,so it is better to check out the news once in a while  I did not knew that Vietnam banned all forms of cryptocurrencies and it was a odd move as i read an article earlier that some university from Vietnam started accepting bitcoin as a mode of payment,did not know that it will come down as a ban at a later time,what ever it may be i am not sure how effective a government can be to ban the entire mode of transactions.

[Macai]

Unfortunately, many counties have banned and will be banning the use of crypto currency.

So far, these countries have banned crypto:
Vietnam
Bolivia
Ecuador
Kyrgyzstan
Bangladesh
Nepal


These countries however do not have a major influence on crypto as they are third world countries and most investors/influences come from the West/China.

Do you guys think as it becomes more of a reality that crypto is the future of currencies, more countries will ban the use due to fear of losing control? Do you think as it becomes the normal form of currency, these countries will lift the ban?

What do you think?

They banned bitcoin because they are threatened that bitcoin will replace the paper money and with that they are no longer control the money.
It is really sad to hear this kind of news because bitcoin now is really the hope of everyone.

[preditor422]

Too some extent it is true that they will try to push bitcoin down in order to save the existence of their own currencies and also due to security purpose as it very difficult to trace actual amount of btc owned by one person.But after certain time they have to accept it is the future of global currency.

[Imperalta09]

Unfortunately, many counties have banned and will be banning the use of crypto currency.

So far, these countries have banned crypto:
Vietnam
Bolivia
Ecuador
Kyrgyzstan
Bangladesh
Nepal


These countries however do not have a major influence on crypto as they are third world countries and most investors/influences come from the West/China.

Do you guys think as it becomes more of a reality that crypto is the future of currencies, more countries will ban the use due to fear of losing control? Do you think as it becomes the normal form of currency, these countries will lift the ban?

What do you think?

I think more countries will ban bitcoin and the other that already did that will not lift the ban, beacause of one word "tax". Countries or the govenment cannot tax bitcoin so banning it would be a logical or something.
Because it is unfair to some bussiness man that are paying taxes who's already rich and getting much more while other low class to middle class people suffer more dificult life. And i think cyptocurrency is really the future but modification will be made and government will put a grip on it.

[kakoli akter jhumu]

My country banned cryptocurrencies that because of insecurity or losing investor.....cause many people are going to like invest in bitcoin than in bank for investment...but not all countries will do the same foolish things!!!

[ayeshajum07]

Well it is the fact that the list shows that the countries banning digital currencies are those belongs to the 3rd world countries.We can't blame them but understand their issues.Maybe someday will come that the ban will lift if they resolve their current issues whatsoever.

[PhucS]

It is unfortunate that this countries are also third world countries it hinder their people to make more cash flow. It really does not make any sense why countries are afraid of bitcoin. I understand nepals decision because they are not a technological country they want to preserve their country culturaly,  but others like vietnam which is one of the fastest developing country, there is no sense on banning crypto.

Yes, I know what you mean. Countries that are in the process of developing industrialization and modernization, using more technology, it is unreasonable to issue such a ban. However, I think they also have their own anxiety. Perhaps the governments have also weighed in before the ban, perhaps fear that it will affect the economy. In addition, cryptocurrency anonymity can be exploited for malicious purposes such as money laundering and illegal transactions. This is just my personal opinion

[Raisa263616]

They don't know the importenc of bitcoin or they are very poor.So the can't effort bitcoin.many country don't parmit bitcoin cryptocurrency .But my opinion is they will parmit it one day.

[ene1980]

My country banned cryptocurrencies that because of insecurity or losing investor.....cause many people are going to like invest in bitcoin than in bank for investment...but not all countries will do the same foolish things!!!

If more and more people started investing in cryptocurrencies, then it should spook a government as it will encounter a crises as the money that has to be in the free market is swept away and invested else where and it will certainly create some problem for the entire economy and these doubts have made them ban crypto currencies altogether and the countries that banned are third world countries which have struggling economies.

[ajmapalo22]

Do I see it right most of the country in the list are from third world countries and if I'm right the only reason why these countries banned bitcoin is because they cannot suported the technology behind it and that the lack of education when it comes to crypto currencies. China banned bitcoin because they doesn't like the idea of having only one common currency and maybe time will come they will introduce their own digital coin

[FrankVVV]

Seems like mostly underdeveloped countries a banning cryptos.

[SupportBitcoin]

Unfortunately, many counties have banned and will be banning the use of crypto currency.

So far, these countries have banned crypto:
Vietnam
Bolivia
Ecuador
Kyrgyzstan
Bangladesh
Nepal


These countries however do not have a major influence on crypto as they are third world countries and most investors/influences come from the West/China.

Do you guys think as it becomes more of a reality that crypto is the future of currencies, more countries will ban the use due to fear of losing control? Do you think as it becomes the normal form of currency, these countries will lift the ban?

What do you think?

I think these countries fear losing control overy their citizens. If you control the money, you control society. They will eventually have to come around because Bitcoin is not going away.

[AgentZero23]

Some countries banned cryptocurrencies, but they will embrace bitcoins eventually like Russia and Thailand did last year.

[ScrumbleGames]

I agree that even though it's banned in those countries it should not and will not effect the downfall of the currency, but let's note that even though it's banned that does not stop people from getting ahold of it, it is still very easy for someone to get the currency without the government knowing. That's why it's crypto.

[Ben100]

Cryptocurrencies,the fastest growing among all the currency is facing some issues from some developed countries. They have been banned from about 8 countries including China, Bangladesh and many more. The main concern behind banning cryptocurrency is it's being non governmental. Because of which they may increase the risk of terrorism r illegalism. Besides all these there is great craze of cryptocurrencies across the world and it possess a great future ahead

[OMGyasuo]

Unfortunately, many counties have banned and will be banning the use of crypto currency.

So far, these countries have banned crypto:
Vietnam
Bolivia
Ecuador
Kyrgyzstan
Bangladesh
Nepal


These countries however do not have a major influence on crypto as they are third world countries and most investors/influences come from the West/China.

Do you guys think as it becomes more of a reality that crypto is the future of currencies, more countries will ban the use due to fear of losing control? Do you think as it becomes the normal form of currency, these countries will lift the ban?

What do you think?

As far as I know, now Vietnam has not banned btc yet. The Government of Vietnam has announced that the ban will be used in 2018, but so far there has been no further announcement of this.

[portstarboard]

I think the reason why they banned the use of cryptocurrencies is that they're only protecting their own national currency and also concerned for money laundering activities.

This is the main reason. The countries listed all share something in common - they are politically very conservative and it would be against their wishes if people were all of a sudden growing cryptorich and gaining influence that comes with wealth.