5 countries that banned bitcoin

[GeorgiyBilyk]

More and more people and countries are opening their doors to bitcoin and the crypto market! I am sure that sooner or later it will fully enter our life! those countries where the ban is, these are fools! they do not understand what opportunity they refuse and how they start to lag behind the economy!

[RyukkL]

I must admit that I did not know that Bolivia had also ended up eliminating the btc offer in their region.

[amaha cris]

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

[babarian]

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

Indian state is also rumored to have banned the bitcoin of his country. for reasons that have not been fully understood to be reported by countries that have many bitcoin users have banned bitcoin

[gtx1060aa]

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

[bitadviser]

They can ban u, but u can work with it anyway, there is much ways to use VPN TOR or smth, also if they ban u hard, better to leave yr country for a while or for ever even, in the current case crypto breaks the borders, u can live and work everywhere u want if u like.

[Sir mikolo]

Be it due to fear, ignorance, or protectionism, governments have a tendency to legislate against perceived threats. The first prerogative of every government is to govern, after all, and any disruptive technology that erodes their power is liable to receive short shrift. Governments that ‘get’ bitcoin, such as Japan , have passed legislation that protects its citizens whilst facilitating the free trade of the digital currency.

[Mike1992]

unenforceable. Nevertheless, that’s exactly the case in five countries: Bangladesh, Bolivia, Ecuador, Kyrgyzstan, and Nepal. As news.Bitcoin.com recently reported, the Nepalese government has jailed almost a dozen cryptocurrency enthusiasts, with the latest pair seemingly guilty of little more than operating a small-scale bitcoin exchange.
In South America, bitcoin is mostly synonymous with Venezuela, whose people have been turning to the cryptocurrency as a haven amidst rising inflation and a failed economy. It is the continent’s most centralized country geographically, however, which has come out against decentralized currency; In 2014, the Central Bank of Bolivia banned bitcoin and the government has since sharply cracked down on its usage

[BitcoinSupremo]

All the countries in the list seems to be third world countries. Their ignorance has left them behind so I am not surprised by what these governments have done. As long as they keep loyal to their shitty propaganda from their governments I am only sorry for the users residing in these countries. Anyway, bitcoin cannot truly be banned if you are smart enough to use masking tools like Tails OS, TOR+VPN your country cannot do anything. You have to move to another country unfortunately if you want to sell your bitcoin as these governments may check where does your money come from if you sell your bitcoins using masked tools in exchanges.

[Mikolo11132]

Ironically, as the rule of law breaks down in developing nations, using bitcoin becomes easier. With military coups to enforce and protesters to quell, dictatorial regimes such as that currently rampaging through Zimbabwe have more pressing matters to attend. Bitcoin regulation is the least of their concerns. For bitcoiners in first world countries, it’s all too easy to rail against ignorant officials trash-talking their beloved cryptocurrency. It’s worth taking a moment though to appreciate how good we’ve got it. Perhaps one day the ability to use bitcoin will be a basic human right.

[PatronRH]

A lot of countries banned bitcoin but it is used there. Such as Kenya bitcoin was banned there but people started using it due its it's low transaction fees so and with time bitcoin was commonly used. Yet I hope that this doesn't affect bitcoins price

[Artlee87]

Not only is this total sensationalism; those countries are irrelevant anyway! They probably don't even have the infrastructure to actually enforce it.

[jcmansah7]

Bitcoin is unstoppable, they can choose not to even mention the name of bitcoin. A time will come when these governments will run back to bitcoin ideology and there, I don't know how to call them

[Ayaancool]

We can't say specifically what's the reason but I think they afraid supporting bitcoin may increase the criminal activities. The another chance is bitcoin play an opponent role in the banking sector, and the direct and full control on bitcoin is not possible for anyone  otherwise they where planning to introduce their own crypto etc...

[zwiggel]

I think 5 countries that banned bitcoin activity are:
1. nga.
2. Chinese.
3. India.
4. philipin.
5. ecuador.
Governments have stifled bitcoin for their national currency.

[Geraico]

In Ecuador the situation is not like that, I think bitcoin is not really banned.

Is sad seeing countries banning bitcoin, they should learn the technology of blockchain and everything what's behind btc.

[rickn]

The big problem is that governments do not support decentralization and people outside their control.
In addition, many governments are money lovers and want to tax everything. Crypto are a form of freedom intolerable by these weak, corrupt and greedy governments.

[Xardasim]

Governments wanna to save financial system with traditional banking tools. But, cryptocurrencies are bigger threat to current traditional financial system because of transparency and other pros. Governments can discover new better system but, this doesn't serve to their interest.

[Fancyax]

I heard Morocco and Algeria also banned dealing with cryptocurrencies the end of last year. I hope we hear a good news from influent countries soon.

[Patatas]

Hey I have my own list of countries too ! Not exactly but it would always be relevant no matter which countries take the top 5 list! Here it is,

1.Most corrupt government who fears that their economical scams will stop if crypto continues to grow.
2.Third world country whose Government doesn't have any intentions of developing it.
3.Country where poor pay tax,rich get interest on their untaxed deposits.
4.Another shit-hole democracy where profits are only meant to make rich richer.
5.People have already lost faith in their currency,yet governments like to keep moving forward since they have rich natural resources.