The countries banned Bitcoin

[zais]

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?

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.

[Hans17]

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?

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

[shimbark123]

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.

[signaturecoin]

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?

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?

[bitcoinzen]

Nepal Bangladesh both the country in Asia banned bitcoin

[stompix]

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?

They did not ban BTC

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.

Bitcoin is fully banned in South Korea.

Source for this crap???

It is true that they banned bitcoin in russia and china.

No they didn't!!!!!!

not just china
there are colombia, ecuador, bangladesh,

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

[dg2010]

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

[anti-scam]

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 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.

[AnisahSiti]

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.

[roshanface123]

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 .

[desklamp]

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.

[krayzie32]

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

[21millionsbtc]

nepal Bangladesh banned bitcoin in large way

[Harri Wolter]

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.

[Rolf Walker]

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.”

[Mark Sherman]

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

[YKTSSR*]

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

[alekseidanilov0803]

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

[bahula33]

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

[AmericanBit]

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