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Author Topic: 5 countries that banned bitcoin  (Read 2984 times)
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August 01, 2018, 03:29:31 AM
 #701

who knows what will happen with these five countries if one day the technology is growing rapidly, and the flying car starts to be used by the world
whether these five countries continue to ban or not
but certainly, I do not mind the existence of bitcoin, and I am still lucky, because BTC is considered neutral in my country

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August 01, 2018, 04:57:17 AM
 #702

You should add India to the list of 6 countries that banned Bitcoin. I do not understand why these countries hate Bitcoin. I think Bitcoin can help these countries grow and become rich. But it seems they just want to is the poor countries

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August 01, 2018, 05:10:47 AM
 #703

COUNTRIES THAT BANNED BITCOIN

Before we start to our topic this I want to tell that some of you might know about this but I just wanna share this to those who are not.

                Several people believe that bitcoin was a blessing and it was an opportunity
for everyone but not everyone shares the sentiment. From central banks and other finance company, Bitcoin's list of detractors runs for a very long time and gone so deep.But most of the government around the world seeks for the regulation of bitcoin.

                Be due to fear,ignorance and protectionism, governments have a tendency to legislate against perceived threats.Countries such as japan protects its citizens to have free trade of the digital currency.But unfortunately not all countries embracing the change of our technology.In some cases citizens have had their assets seized,accounts got frozen and have been locked up, Government can't stop the blockchain from propagating, but they can stop their people in having access to it.

STOP THE BITCOIN!!

               Like banning drugs,alcohol and other stuffs banning bitcoin sounds nonsensical and unforceable.That's the exact case in five countries:

1.Bangladesh
2.Bolivia
3.Ecuador
4.Kyrgyzstan
5.Nepal

It was recently reported in https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/
that there were dozens of bitcoin and crypto enthusiasts get imprison seemingly guilty of little more than operating a small-scale bitcoin exchange.

Meanwhile Ecuador has outlawed bitcoin, nit because they opposed this crypto but because they want to regulate and control it and tether it with the Ecuadorian dollar.An Electronic money designed to operate ad support monetary scheme dollarization.Completing the naughty list of countries that have banned bitcoin is Kyrgyzstan, a tiny landlocked state in Central Asia,
And Bangladesh banned bitcoin, it was 2014 where Bangladesh bank stated that anyone that will be caught using such online currency could be jailed mostly because it's about "MONEY LAUNDERING".


this was already an old news for updated list

https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory


so what do you think? will your country will ban the use of bitcoin?
do you know other countries that ban the bitcoins?
Please share it and tell to everyone Smiley
of course the country has a very strong reason that prohibits bitcoin to be accessed in my country state bitcoin is only forbidden to conduct transactions directly because bitcoin has not been inaugurated or validated as the applicable currency

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August 02, 2018, 08:09:04 PM
 #704


Well I was excepting the traditionnal rumours on China and Russia but instead found something else, rather... funny. This is not to be offensive, but those five countries are everything but of a big weight in world economy, so this is not big news.
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August 02, 2018, 08:13:51 PM
 #705

Most countries you mentioned are under developed countries filled with political corruption. Sad to see peoples right to financial freedom being snatched away from them. Those countries are the one that are likely to develop unless their government are overthrown by their common people. Funny how they say that using bitcoin is associated with "money laundering" and yet this is going to be more advantageous for them to hide their dirty money  Roll Eyes.


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August 09, 2018, 11:21:47 AM
 #706

It can be said that more countries are banned from bitcoin than legalizing bitcoin, this is because they do not know the benefits of bitcoin so they only think the negative side of bitcoin is anonymous and decentralized.

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Kolikalex55
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August 09, 2018, 11:38:13 AM
 #707

Even if they banned bitcoin in these countries, they will not be able to resist it and people will still use it as it is decentralized ! When the whole world kneels before him, they'll have to accept him !))

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August 09, 2018, 11:40:00 AM
 #708

COUNTRIES THAT BANNED BITCOIN

Before we start to our topic this I want to tell that some of you might know about this but I just wanna share this to those who are not.

                Several people believe that bitcoin was a blessing and it was an opportunity
for everyone but not everyone shares the sentiment. From central banks and other finance company, Bitcoin's list of detractors runs for a very long time and gone so deep.But most of the government around the world seeks for the regulation of bitcoin.

                Be due to fear,ignorance and protectionism, governments have a tendency to legislate against perceived threats.Countries such as japan protects its citizens to have free trade of the digital currency.But unfortunately not all countries embracing the change of our technology.In some cases citizens have had their assets seized,accounts got frozen and have been locked up, Government can't stop the blockchain from propagating, but they can stop their people in having access to it.

STOP THE BITCOIN!!

               Like banning drugs,alcohol and other stuffs banning bitcoin sounds nonsensical and unforceable.That's the exact case in five countries:

1.Bangladesh
2.Bolivia
3.Ecuador
4.Kyrgyzstan
5.Nepal

It was recently reported in https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/
that there were dozens of bitcoin and crypto enthusiasts get imprison seemingly guilty of little more than operating a small-scale bitcoin exchange.

Meanwhile Ecuador has outlawed bitcoin, nit because they opposed this crypto but because they want to regulate and control it and tether it with the Ecuadorian dollar.An Electronic money designed to operate ad support monetary scheme dollarization.Completing the naughty list of countries that have banned bitcoin is Kyrgyzstan, a tiny landlocked state in Central Asia,
And Bangladesh banned bitcoin, it was 2014 where Bangladesh bank stated that anyone that will be caught using such online currency could be jailed mostly because it's about "MONEY LAUNDERING".


this was already an old news for updated list

https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory


so what do you think? will your country will ban the use of bitcoin?
do you know other countries that ban the bitcoins?
Please share it and tell to everyone Smiley

so lucky for me, i come from VN and still join to trade bitcoin each days
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August 09, 2018, 11:43:08 AM
 #709

Can you really ban Bitcoin though? I mean you can tell people that their not allowed to use it, but how do you stop them. They could block crypto websites and IPs I guess. Then you could just used a VPN to get around them. I seems like most they could really do to control crypto activity would be to go after the sites that exchange crypto for fiat. Even there, I think it would be very feasible to exchange via another country, then transfer it to yourself. Seems like a pointless endeavor to "ban" cryptocurrencies. Am I missing something?
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August 09, 2018, 11:57:01 AM
 #710

Discussed with one friend of mine yesterday, we were discussing that paricular topic with him, and we thought that it is very positive for us. If every country will follow Thailand that recently approved crypto/bitcoin... things will definitely go moon!

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August 09, 2018, 12:42:59 PM
 #711

Those countries have their reasons for banning bitcoin. But we are clear here, there are still many other countries that allow bitcoin and we should spread the good issues of bitcoin. Hopefully, Bitcoin will be accepted in more countries. Even some countries have banned it, it doesn't mean kill the bitcoin. We should respect their decision to ban bitcoin. and we should spread the good issues of this digital currency.
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August 09, 2018, 03:04:24 PM
 #712

Countries in the world have a different view of Bitcoins in terms of electronic money, or "virtual currency." Western countries such as the United States and the United Kingdom have shown a positive attitude toward new technology. Some countries like Canada and Australia are still considering Bitcoin. Some other countries have decided against electronic money, especially bitcoin. These are Vietnam, China, Thailand, Sweden and Russia.
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August 09, 2018, 04:28:52 PM
 #713

5 countries banned bitcoin:
1. Russia.
2. China.
3. Thailand.
4. Bolivia.
5. India.
These countries see bitcoin as a danger to the economy.


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Belliapro
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August 09, 2018, 09:56:54 PM
 #714

in my country, Indonesian banned bitcoin because bank of indonesian worried if bitcoin used to buy drugs, money laundry, and crime
another reason of banning bitcoin is bitcoin didnt have a physical shape and the price unpredictable. Lips sealed Lips sealed

That's right, in Indonesia the ban on bitcoin is also due to the law that payment transaction tools only use rupiah,
so bitcoin is not allowed for payment transactions, but if bitcoin is used as an investment such as gold,
it is permissible because it does not violate the law
koincik
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August 09, 2018, 09:58:36 PM
 #715

Year 2018! I still do not understand the prohibition. They may not use bitcoin, but it is not right to ban.

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mark 4
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August 10, 2018, 02:26:34 AM
 #716

but what I understand most countries are only negatively affected by bitcoin abuse. Maybe if the positive impacts received by the 5 countries will definitely not be banned for now, but if they think it is the best bitcoin that forbids, then I feel sorry for those who are in jail, Maybe they use bitcoin to fool others, such as money laundering or by trading it with drugs. Lips sealed Lips sealed
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August 10, 2018, 02:56:55 AM
 #717

In fact there are still many countries that prefer to ban bitcoin rather than giving legal status to bitcoin. What I clearly know is Indonesia, Indonesia as the country where I was born and where I live is very strictly forbidding bitcoin. The Indonesian government prohibits transactions with bitcoin even the state government is out of hand if there is a negative transaction due to bitcoin. In my opinion, my country is less open with technology. Instead of doing a strict ban, there are still many citizens who play bitcoin and earn profits through bitcoin. It is better for countries that prohibit bitcoin, not only Indonesia, to introduce deeper technology so that negative transactions through bitcoin can be pursued and prevented. Does the country also benefit from being able to cross-country transactions easily and quickly. Than we always blame bitcoin technology, we can make improvements to bitcoin.
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August 10, 2018, 03:04:21 AM
 #718

COUNTRIES THAT BANNED BITCOIN

Before we start to our topic this I want to tell that some of you might know about this but I just wanna share this to those who are not.

                Several people believe that bitcoin was a blessing and it was an opportunity
for everyone but not everyone shares the sentiment. From central banks and other finance company, Bitcoin's list of detractors runs for a very long time and gone so deep.But most of the government around the world seeks for the regulation of bitcoin.

                Be due to fear,ignorance and protectionism, governments have a tendency to legislate against perceived threats.Countries such as japan protects its citizens to have free trade of the digital currency.But unfortunately not all countries embracing the change of our technology.In some cases citizens have had their assets seized,accounts got frozen and have been locked up, Government can't stop the blockchain from propagating, but they can stop their people in having access to it.

STOP THE BITCOIN!!

               Like banning drugs,alcohol and other stuffs banning bitcoin sounds nonsensical and unforceable.That's the exact case in five countries:

1.Bangladesh
2.Bolivia
3.Ecuador
4.Kyrgyzstan
5.Nepal

It was recently reported in https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/
that there were dozens of bitcoin and crypto enthusiasts get imprison seemingly guilty of little more than operating a small-scale bitcoin exchange.

Meanwhile Ecuador has outlawed bitcoin, nit because they opposed this crypto but because they want to regulate and control it and tether it with the Ecuadorian dollar.An Electronic money designed to operate ad support monetary scheme dollarization.Completing the naughty list of countries that have banned bitcoin is Kyrgyzstan, a tiny landlocked state in Central Asia,
And Bangladesh banned bitcoin, it was 2014 where Bangladesh bank stated that anyone that will be caught using such online currency could be jailed mostly because it's about "MONEY LAUNDERING".


this was already an old news for updated list

https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory


so what do you think? will your country will ban the use of bitcoin?
do you know other countries that ban the bitcoins?
Please share it and tell to everyone Smiley



I think this is a bad news that 5 countries banned bitcoin. There are so many country that wanted to end it because they all know that there is the chance that bitcoin will be the currency all over the world in the future.

elwiswoodie
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August 10, 2018, 03:13:29 AM
 #719

as long as there is internet, all citizens in the country will still be able to use BTC as an investment tool
never give up my friend, there must be a way that will illuminate BTC to be a very valuable currency that can be accepted by all countries in the world

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Giardina
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August 10, 2018, 03:21:56 AM
 #720

It is a pity that some countries categorically refuse to recognize bitcoin and cryptocurrency.This is due to the fear of new technologies and the reluctance to develop,but you need to understand that the rejection of the cryptocurrency is a step back.

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