5 countries that banned bitcoin

[elizavetausova0112]

Well and will think, all takes place now not officially. Much that is forbidden now. But all on it however!!!

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[Redrose]

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.

[stephylarde]

The Central Bank of Bolivia issued a resolution banning bitcoin and any other currency not regulated by a country or economic zone in 2014. Not regulated, according to a 2014 statement by the Central Bank of Brazil concerning cryptocurrencies, but is discouraged because of operational risks.

Bitcoin has increased a lot in popularity since it was created in 2009 but there still remain several regions around the world where it, and other cryptocurrencies such as Litecoin and Ethereum, are classified as illegal and not recognized as a legitimate form of currency.<br>
Bangladesh, Bolivia, Ecuador, Kyrgyzstan, and Nepal are the 5 countries that banned bitcoin.

[toast]

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

which I think is always a ban received by investors in bitcoin, so my mind who made mistakes that his investors or laws and technological progress if following the times and technology of the country would certainly support, in my country the government has not banned in full because of the prohibited only payment transactions using bitcoin directly because the reason is very clear bitcoin is not a valid currency in my country

[nazaididuan1]

And China!

The world's most populous country is also the first major country of BTC.

It is now completely banned from digital cryptography, which has had a huge impact on the entire digital cryptocurrency market.

[cryptohunter]

with such financial powerhouses as these 5 how can bitcoin stand a chance?

meanwhile other minor league players like the US EU and Japan are pushing ahead full steam and regulating ready for main stream.

[Warren Buffert]

Basically all countries nobody really cares about, they will end up missing out big time.

[valterkjellberg]

1. China
2. South Korea
3. Taiwan
4. Cambodia
5. Indoneisa
The top 3 countries in here are the biggest country affect much to the price's Bitcoin.

[ostrogoto2012]

I see lots of ICO`s and projects from Russia and even Kadirov admits having Bitcoins, one of Putin`s officers. So in Russia banning is something just on words

Many project are coming from Ukraina too or all from the ex Urss country, Russia don't think they would ban any crypto they are making good money on it

[musaonliner]

Nepal hasn't banned bitcoin, just they are said its illegal of payment method. it's not banned. but who tradding bitcoin they still working.

[millgates]

Those country are not so have important role in world economy. There are a lot of bigger and developed country which still not ban bitcoin. Countries actually want to embrace blockchain technology but they afraid about bitcoin, the think that bitcoin is disruptive technology. I hope countries are more open minded to not ban bitcoin and even support bitcoin.

[mirawantirinjana]

not just the five countries that have banned bitcoin in their country.
such as, indonesia, russia, vietnam, singapore, south korea for different reasons

[Odwin]

Underdeveloped countries, in which the state controls everything.
I'm glad that this is not in Russia, but it may seem

[muratsink]

not just the five countries that have banned bitcoin in their country.
such as, indonesia, russia, vietnam, singapore, south korea for different reasons

the prohibition of using bitcoin as a tool of transaction makes me uneasy, even in countries like Indonesia banned bitcoin, but we can still access to bitcoin, and that still makes us relieved. our heads of state consider that as technological progress.

[YzzyGo]

I think they will eventually change their position on the matter once bitcoin is recognized by all other countries although there will be regulations surrounding it. Or then can be stubborn and let themselves be left behind.

[mrcash02]

Underdeveloped countries, in which the state controls everything.
I'm glad that this is not in Russia, but it may seem

Yes, plus, passive population that accepts everything that is imposed to them.

The reasons why these countries banned Bitcoin are ridiculous. It's like banning airports from the country because airplanes crash or to ban all the cars because they can cause accidents and kill people.

Every place where the most part of population is passive, it's a fertile soil for maniacs trying to control people's lives via the big state machine.

[Haunebu]

Does it seriously matter which country banned bitcoin and which did not? At the end of the day, there will always be a few countries supporting bitcoin and the crypto world and some who oppose what bitcoin is trying to achieve. Personally, I don't really care which country supports bitcoin and which country does not since bitcoin and the crypto world do not depend on any specific country's government and it is a decentralized entity trying to modernize the current state of our world through anonymous transactions without government interference which is all that matters at the end of the day.

[network.decentralizer]

Actually bitcoin can not be banned 100% in any country. Not even in China which has the "Great firewall". Proxy servers will always be a solution if governments block all nodes IPs. Usually Cryptocurrencies are being regulated or in some countries people who own cryptos and share it to everybody, are facing problems with law.

[MilesMoses]

Bitcoin is not banned fully. It's using more countries. India and Russia banned. But bitcoin really care which country support bitcoin. The world most populars country is also the first major country of bitcoin.

[cryptobluemoon]

Bangladesh Nepal have very strict rules for bitcoin trading mining  both these country are nt in a mood to legalise bitcoin in anytime future