5 countries that banned bitcoin

[waitforme]

In my country Bitcoin has been banned, users of Bitcoin and Altcoin for the exchange, buy/sale of products and items of life are considered illegal, and you are responsible to the law. But owning it is still legal in my country.

[1715422764]

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[rog1121]

Most nations that has prohibited bitcoin was those strict nations that its administration might want to be the highest point of all financial related exchanges that could create charges and different benefits for the economy. Also, another factor is that the utilization of cryptographic money for wrongdoing purposes.

[Fairy_90]

Like the ban on drugs, alcohol and the Internet, Bitcoin's ban is ridiculous and unreasonable. Moreover, that is the case in the following countries: Bangladesh, Bolivia, Ecuador, Kyrgyzstan and Nepal. Recently, the Nepalese government has arrested almost all the people involved in online trafficking. It is paranoid, it makes us richer, why bother

[orarider]

At present, bitcoin is developing very wide all over the world. But there are some countries that prohibit bitcoin activity:
1. Russia
2. Bolivia
3. Bangladesh
4. Ecuador
5. Nepal

[uyenthuy2212]

I think in the near future, the world will accept bitcoin because the benefit of it.

[Linggis]

In my country Bitcoin has been banned, users of Bitcoin and Altcoin for the exchange, buy/sale of products and items of life are considered illegal, and you are responsible to the law. But owning it is still legal in my country.

Is your country Indonesia? If true Indonesia, we are the same. Because my country still allows having Bitcoin. But if for the tool transaction is prohibited.

[Dmitry.Vastov]

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

There are many countries that declared BTC as an illegal cryptocurrency because there is no governing body over BTC and this thing compromise the national security and this is the reason for banning BTC in their respective countries but in my country India, conditions are quite different, in India BTC is illegal and government is not the governing body over BTC but u can own BTC, it's not illegal, though government is not responsible for any kind of losses Bt u can own it at ur own risk, I think this is the only disadvantage of BTC and with time this would also end.

[fokinlipat]

here are the countries that prohibit the circulation of BITCOIN and the reason: 1.Colombia, Reason: worry of cryptocurrency fraud
2.Bangladesh, Reason: avoid money laundering
3.Vietnam, the reason: can be used for crime and high risk for investors
4. Russia, Reason: Bitcoin is used for illegal activities
5. South Korea, Reason: controlling its finances
6. Singapore, Reason: arising constraints between financial companies, the last
7. Indonesia, Reason: High risk natural bubble

I was really not aware of this thing. This thread is certainly one of the most overlooked threads on this forum. It is correct that governments are worried about bitcoins being used for illegal activities or crimes. But there is no fault of bitcoins in this. They should introduce laws punishing those criminals only. Why make genuine investors suffer because of this ? Governments need to realize that bitcoins are a great earning opportunity especially for middle class.

[motoprose]

in my country that is Indonesia has stated that bitcoin can not be used for payment like in supermarket etc. but my country does not prohibit getting or exchanging bitcoins

They don't have any problem with bitcoin and its use in your country?
I thought I read earlier last month that they were going to start confiscating bank accounts that are connected having done anything to do with bitcoin transactions if caught.
Or was this to do with something else with the government and the banks there?

[dollarneed]

here are the countries that prohibit the circulation of BITCOIN and the reason: 1.Colombia, Reason: worry of cryptocurrency fraud
2.Bangladesh, Reason: avoid money laundering
3.Vietnam, the reason: can be used for crime and high risk for investors
4. Russia, Reason: Bitcoin is used for illegal activities
5. South Korea, Reason: controlling its finances
6. Singapore, Reason: arising constraints between financial companies, the last
7. Indonesia, Reason: High risk natural bubble

Just seeing this thread : https://bitcointalk.org/index.php?topic=3044250.new#new
A Malaysian guy complained about the bank account of the exchanger has been freeze by their government, is bitcoin officially banned there? anyone from Malaysia can confirm this?
Oh anyway i heard that Indonesian is still using bitcoin but only as stock or speculation, not as currency (which can get punish) so not totally banned as you can see their exchanger still running and their members still active here. I saw a video that shows many Bitcoin Atm in Singapore, this country is like Bitcoin city in Asia after Japan, never knowing why their government banned it.

[Sadlife]

What about china? the country that is really trying hard to ban bitcoin can't do it so they decided to regulate with over-exaggerated rules but still cant stop crypto currencies. There is also venezuela and india that were not serious into banning it and still currently deciding into regulating it or banning btc. This dictator and communist countries will regulate bitcoin and crypto's not ban them.

[belyaevi]

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

Guys,do you really think, that those countries are important for bitcoin?)It sounds like a joke))

I think loosing every potential investor is bad for bitcoins. The purpose of bitcoins was to make it the most widely used payment medium in the world. If some countries are not going to use bitcoins at all then this purpose can never be achieved.

We need to analyze the reasons behind these countries banning bitcoins. The most common reason I think is that the politicians in these countries have failed to understand bitcoins completely. They are judging it based on past online scams.

[bitcon]

Countries can banned BTC/Cryptocurrency but they can't stop it. I believe there are still lot of people doing business in cryptocurrency even though the government banned those things.

I do not think that countries with developed economy will ever ban Bitcoin. They will be interested in cryptocurrency and it opens for them the new ways.

[obinine]

Most nations that has prohibited bitcoin was those strict nations that its administration may need to be the best purpose of all money connected exchanges that would produce charges and completely different edges for the economy. Also, another issue is that the employment of science cash for wrongdoing functions.

[zhanyiguai261315]

There is one less country in your list: China!

The world's most populous country, many people like BTC, but their government prohibits BTC transactions!

If the Chinese government opens the BTC deal, BTC will regain a new height!

[natalagerman95]

I really do not care which countries have forbidden bitcoin because it does not change anything you can safely sit iв внн and buy and sell and do the rest.

[Antivoid]

many countries ban ico and the speculation, but they are looking forward to the blockchain technology and is developing it very fast, only more people know about bitcoin and there is a way to protect bitcoin from cryminals, can cryptos be free across the world

[joykulot]

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

I wish that countries can see the value of bitcoin for the people.

[imgoinforbitcoin]

Bans cannot really work with bitcoin because even though you ban bitcoin you cannot ban people from using it because you cannot ban them from using the internet. Governments would have a better time regulating bitcoin than banning it.

[alphaomega.f]

that depends on how will the government officials take it. but if they're going to ban it on the country i reside in, i suggest thaf they study it thoroughly first before concluding that is illegal and start making laws that will keep people from it.