5 countries that banned bitcoin

[weertgilders]

Banning bitcoin isn't an effective strategy for government to use in their useless fight against bitcion. You can't stop people from using the internet and so they will always find a way to use bitcoin

[magisterr]

This is most poor countries. But they goverment rich (as in every country). And they want not help own nation and country? They just can legalize crypto and take tax from this.

[Englebabylove]

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 don't think it will have a big impact on bitcoin, if all of these countries explicitly say they will ban bitcoin. There are not many investors in these countries. I don't think these countries have more bitcoin investors than Japan.

[CarylnBoy]

Currently there are 5 countries banned bitcoin use are: vietnam, china, singapore, korea, nga. These countries have declared BTC an illegal encoding because there is no BTC regulator and this has affected national security.

[yadwoa69]

This is old news and continuing reporting it increases the FUD which help bitcoin breed more. yet these countries are insignificant in decision making when it comes to global finances. None of those countries can move bitcoin even if their combined GDP is used to compete it.

[brylle34]

In our Country Philippines , banning bitcoin will have a very small chance, because bitcoin in our country are not very well known, government will first sure put some limitations in using bitcoin if the government will focus on it. Governments all over the world are sure not dumb and there is a high chance that they all using bitcoin to gain more money. If that't the case that they will ban bitcoin i will first secure my money and start my own business first before anything else.

[coynedterm]

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

Here are always trying to spread positivity and positive things about bitcoin and another cryptourrency and always keeps saying bitcoin is future of the Money of online world and there will be only one currency in online that will be bitcoin or etherium but in Actual what going on in the practical life we can see clearly .
Few countries are banning bitcoin , recently ban of bitcoin in Nepal clearly telling that what the bitcoin is having reputation in the view of the governments of many countries .
But here we can see a small positivity in this ban also , here the listed countries who banned the bitcoin use are mostly those who are small by economy and small by the power in the world from every side .
So here with these things I can say that there is no chance for my country to ban bitcoin at any side but maybe they can make rule/rules to pay high percent of tax .

[BlockFolksHQ]

Personally, i think main reason countries banned bitcoin is because of the thread of the fraud that can be done using bitcoin. It might become a new way that not easy to trace for the criminal to happen. Besides, some countries might also worry that bitcoin will effect the economic.

[007 SHIELD 007]

Definitely they ban bitcoin because those are the country most corrupted by government.

[gaurav82]

I am from India. This year the government has banned Bitcoin and declare it illegal for exchange. I don't know about other countries but in India if anyone working with bitcoin then he is joke for others. The future of bitcoin in India is hard to establish. But i think if trend of bitcoin is increase in world then countries which has banned bitcoin can open it and can declare it legal.

[MasterCATZ]

The authorities do not want to have unregulated internal off-shores on their territory. So far, there are no rights to influence the currency exchange and their members, and scandals continue to arise

[kashwin663]

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.

1.Thailand-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.
             2.nepal
             3.bangladesh
             4.bolivia-“It is illegal to use any currency that is not issued and controlled by a government or an authorized entity.”
             5.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.

[izanagi narukami]

My country also forbid bitcoin usage my they still not make legal regulation yet so I can still use bitcoin but with my own risk.
If I get scam because of bitcoin, police can't help me !

Definitely they ban bitcoin because those are the country most corrupted by government.

Many parliamentarian on my country got bust because corruption and bitcoin become the advantage so that's this is also one reason why my government forbid bitcoin

[Snaic]

In other sources, among the five countries that have banned crypto currency, Indonesia is listed instead of Nepal.
I think that the bans in these countries have taken place on the one hand because the government is afraid of granting financial freedom to its citizens, and on the other hand, they have the opportunity to do this, because human rights and freedoms in these countries are infringed. In the future, this position of the above-mentioned countries will change under the influence of most countries of the world.

[1NV3ST0NM3]

These countries are really too small to effect the popularity of bitcoin or even its legality worldwide. As far as I know two of these countries depend solely on India for management of their finances. So if the other day India will legalize bitcoins these countries too will automatically legalize it. These have banned btc because their developing economy was really badly affected by the bitcoin as people were trying to evade taxes.

[killat]

I think Japan is setting an example in every way on how countries should appreciate cryptocurrency in its legal framework. In times when most of the policymakers are skeptical about the potential of cryptocurrency and some even considering it as a threat, Japan with all its swag is embracing cryptocurrencies wholeheartedly and Yahoo setting up a cryptocurrency exchange is just another example of that.

[cmacwiz]

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.

Yes that is right government can ban bitcoin only in his country. The countries in which Bitcoin is ban is china, Bangladesh, Bolivia, Malaysia, Ecuador. Every country has their own agenda behind Bitcoin ban.  Chinese government ban it because they doesn't want to loose their country currency value in their own country . And the government doesn't want  digital currency like bitcoin affects their banking system. Bolivia, Malaysia and Ecuador government ban it because it directly affect their country financial growth and economy value and it is also banned in some country because it associated with many  criminal activities. 

[kiwasmose]

The latest news is that Thailand hugged bitcoin. In the five countries are relatively backward small countries, in the encrypted world, the five countries are very small investors, almost negligible. I think these countries formulate relevant policies because they consider their national economy. They are afraid that bitcoin will weaken their economic base, and the economic system of small countries is relatively weak, which is understandable.

[kenelmark]

I don't think there are only 5 countries in term of what try to say "Bitcoin Ban".
Most countries in the world ban bitcoin as a legal payment currency, but not ban it for being traded in the market. technically, they treat bitcoin as a commodity, not as currency.

[UCHCHILD]

In many countries were kidnapped, beaten and held of millions of dollars in bitcoin even ransom by criminals. Due to this reason Taiwan
China, Russia, Colombia, Vietnam etc banned the use of bitcoin.