5 countries that banned bitcoin

[shibisu]

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

The following five countries prohibit the use of digital currencies such as bitcoin as a means of payment and legitimate transactions, collected from various sources.

1. Nigeria, since 17 January 2017.
2. China, since January 8, 2017. Reason: will issue its own digital currency
3.colombia, since December 31, 2016. Reason: worry of cryptocurrency fraud
4. Taiwan, since November 3, 2015. Reason: bitcoin hacking
5. Ecuador, since March 24, 2015. Reason: will issue its own currency

[zwiggel]

I think the five countries that banned bitcoins are:
1. Chinese.
2. nga.
3. India.
4. philipin.
5. bolivia.

[Man91]

As a ban on alcohol or the Internet, the ban on bitcoins seems meaningless and even impossible. Nevertheless, five countries succeeded in actually prohibiting the crypto currency - these are Bangladesh, Bolivia, Ecuador, Kyrgyzstan and Nepal

[orarider]

India, Philippines, Nepal, Bangladesh, Russia are the countries that forbid bitcoin. They think that bitcoin affects the economy of the country. These governments prohibit people from buying bitcoins.

[Ukaraki]

I think in the future not only will five countries banning Bitcoin but there will be more countries banned and want to remove this currency from the market economy. In my country Bitcoin is being threatened by the government when they say it will prohibit Bitcoin and investors.

[andregunawan1]

this is an old topic. but this is a symbol of the state forbidding, many bitcoin states like in japan etc. many people use bitcoin in a negative way criminally but there are people using bitcoin positively as an investment.

[killerfrost]

As far as I know the bitcoin ban is:
1. venezuela.
2. zimbabwe.
3. India.
4. Chinese.
5. Russia.
These countries do not allow bitcoin to operate. They argue that bitcoin hinders the development of the national currency.

[masterchief001]

5 countries banned bitcoin.
1. nepal.
2. venezuela.
3. zimbabwe.
4. India.
5. China.
They see bitcoins as a threat to the country.

[xbudahx]

As a ban on alcohol or the Internet, the ban on bitcoins seems meaningless and even impossible. Nevertheless, five countries succeeded in actually prohibiting the crypto currency - these are Bangladesh, Bolivia, Ecuador, Kyrgyzstan and Nepal.

[Fancyax]

You can add Morocco and Algeria. But all the countries you mentioned don't have a big weight in Crypto world.

[Eleenkaaa]

India, Philippines, Nepal, Bangladesh, Russia are the countries that forbid bitcoin.

[Markmolotok1488]

I think that this ban has little impact on citizens. But I also think that these countries will be forced to lift the ban in the future.

[ZENC]

I think it's an old news. Not important countries and very few. The banned news of these countries does not affect the price of Bitcoin.
Only brief manipulation.

[iyamoxjhian]

Well here in my country, most of the news you've heard about bitcoin was all about scam. Whether there's a company who uses BTC and collects money and scammed the customer they will say that Bitcoin is a scam. Well infact they did not know what really bitcoin is. It's just a matter of understanding it and how it deals by people and how it really works maybe they will realize the positive side of it rather than saying the negative ones. It is just the government that never sees it or rather doesn't want to see it because it will affects their personal business or political interests.

[sakokinak]

I think it will only last for a while. However we should always keep up with technological developments, if we do not follow, then we will be left far behind. So just wait for a few years.

I also hope that it will be stopped very soon and these bans will never happen. However, there are more countries on this list. Watch the video about those ones that banned crypto: https://www.youtube.com/watch?v=MlUes2BNVw8

[Yakapo]

For their own reasons, there are a number of countries which have banned the usage of BTC within their borders. some sight the threat to national economy while others say Bitcoin fuels crime withing their borders, i believe these are just excuses made to curtail the growth of BTC. Bitcoin has since performed well in the market even with these bans

[peymanrmi]

Iran also officially banned bitcoin trades

[bitcoin31]

I hope no more country will banned bitcoin so that's why the price again become very high and back to the price of $20,000 . I think they hve effect of banning bitcoin to the country becauss you are residence to that country you will not access bitcoin anymore for sure and for sure all of them are sell their bitcoin it's because it's worthless if they did not access bitcoin ..

[Mr Bhuiyan]

Bangladesh,Bolivia,Ecuador,Kyrgyzstan,Nepal,china,venezuel,zimbabwe,India.These countries do not allow bitcoin to operate.They see bitcoins as a threat to the country

[Bolivar_Tony]

In the five countries that banned Bitcoin, including my country, the government in my country banned Bitcoin because the country has not been able to economically vacate the country's crisis, so far in my country. People are involved in Bitcoin but most people do not know the virtual currency and because of this, they have blocked Bitcoin.