5 countries that banned bitcoin

[evader11]

Those 5 countries has banned because they want to protect cryptocurrency to avoid money laundering and illegal activities that won't help to gain more investor. So they do these things because they want to avoid these problem. I hope that in the philipiines won't be ban like what happens on those five countries.

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[Ferry22]

I hope enough that's just the countries that forbid Bitcoin, and do not grow anymore. because if more and more countries are banning Bitcoin, it will slowly grow Bitcoin. and then Bitcoin will be at the height of its glory, so that countries that once banned Bitcoin will regret their decision.

[saumang2m]

Every country has different laws and in some countries Bitcoin is considered illegal according to their law. Some countries have banned Bitcoin, but in the future when Bitcoin will make its mark in the entire world, then those countries will know their mistake that Bitcoin is not an illegal currency.

[renggileh]

Add few more to list. India and Pakistan also banned bitcoins and altcoins. Any sales, trade, exchange and investments are prohibited. The official statement was that since the virtual coins provide high level of anonymity they can be used for illegal activities.

[schatzi]

That depends on point of views of governments. In the truth, no government is taking right decisions in all the time. Don't care too much about government decisions. We didn't create bitcoins, we're getting advantages from something created by someone super genius. Bitcoins is just an opportunity for us. (For me) Bitcoins isn't my life, so, if my country would be be banned bitcoins in the future, I consider it as a lost opportunity and leave away.

[upinros]

You are not surprised by what you describe in your post. basically a banking system that does not approve the development of Bitcoin in a Country. there is much debate and regulation in every state law. some small countries like in asia. That some traders in Ecuador are actively discouraged to use cryptocurrency for business operations by public institutions, and the Bank.Sentral issued a statement that Bitcoin is not a valid means of payment. So to me, the most likely interpretation is that personally, you can use Bitcoin if you want, but you can not accept it officially.

[Angna27]

These countires may have something in common that they banned bitcoin in their countries...they may have other reason why they do not allow it to enter, to adapt to apply.\, or even to use in their country for fear that this may bring economic crisis in their country...seems this will be their end economically-socially speaking if they allow it..nonetheless we still respect their views and opinuon about it.

[Karakas]

Hopefully there is a good development to be able to make payments using bitcoin. And hopefully in some countries that are concerned with the development of the world of technology still legalize bitcoin

[wisdomcn]

Well as for any government any country banding cryptocurrencies bitcoin particular is because they do not have better understanding about it. They only sees the negative aspect of it, which it can be used for illegal trade, terrorism, money laundering etc. The power of government of it's people is ability to control money and power, since they have known that the decentralization of blockchain technology have gone beyond the control they have no other option to the band it.

[baundul]

The 5 country do not know what advanced. They are blind, deaf. These countries do not know how they will improve, but talking about development. Decentralization transactions are one of the ways of development that bitcoin. The government is making mistakes, the people should protest and correct the mistakes of the government.

[Sosad12]

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

[Jannatul Shefa]

There are many countries which had banned bitcoin. They have shown their own issues to block it.
According to my Knowledge I have heard that Bangladesh, Vietnam, Russia, South Korea & Singapore have banned it.

[jeepuerit]

five countries ban bitcoin our 1.Thailand– The Thai treasure banned bitcoin outright. 2. bolivia- Cryptocurrencies have never been legal in Bolivia and the government has been known to enforce its anti-Bitcoin stance rather firmly. 3. Ecuador 4. Nepal 5. Morocco.

[crypteris]

According to Wikipedia's article, https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory, Algeria is planning to ban bitcoin in its new Finance law of 2018.
Canada, India, Thailand has a banking ban for cryptocurrency.
As for Kyrgyzstan, Wikipedia says that crypto has gained its legality, but its usage is limited.
In Indonesia, Vietnam bitcoin is illegal to use as payment tool.
Also, in Macedonia btc is banned.

[taxmanmt5]

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

Those countries who have banned bitcoins have done bad for themselves. This will not effect bitcoin in any way. The only people will suffer will be those countries only. Even the people of those countries can continue using bitcoin in illegal way as all is available on internet and no government can fully ban it.

[samiul12]

As you can see the five countries have banned bitcoin are not in the haters list. I don't think that these country banned it for any international issue and any other problems like their people committing crime in digital world. They banned this for their own purpose unlike them many countries now already given legality for bitcoin.

[Gathel]

these are the 5 countries that ban bitcoin
1. Nigeria
Nigeria is a country located in Africa. The country has banned the use of digital currency since January 17, 2017 ago.

2. China
China is a country with the second largest economy in the world after the United States. The Bamboo Curtain has banned the use of digital currency since January 8, 2017 because the People's Bank of China (PBOC) will launch its own currency.

3. Colombia
The country located in South America has banned the use of cryptocurrency since December 31, 2016 ago, for fear of bubble or economic bubble.

4. Taiwan
Taiwan is a country located 180 km from eastern China. Since November 3, 2015, the country has banned the use of virtual currency because of the bitcoin hacking that occurred in the country.

5. Ecuador
The country located on the western coast of South America has banned the use of digital currency since March 24, 2015, because it will issue its own currency.

[salmanahmedone]

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

Not only your government, but most of the governments of the world behave like this.  Making bitcoin popular in a country is a top down approach, meaning if the government is willing to promote bitcoins, it will spread very quickly.
Japanese are always one step ahead in technology and they have adopted bitcoins much earlier than rest of the world.z

[Manoj94]

There may be some case of money laundering and some Ponzi schemes in the name of Bitcoin so these countries may hv banned Bitcoin. But Bitcoin and technology behind it is very important and hv bright future.

[Yudai]

The country of China, Bolivia, Indonesia, Ecquador and Nepal are some of different countries tagt do not accept the bitcoin as a currency and choose to ban the use of it.