5 countries that banned bitcoin

[art.vrn]

As far as I know, the government of these countries simply does not know much about cryptocurrencies, and simply wants to remove the inhabitants of their country from what they know little about.

[ericmalik]

in my opinion.governments banned bitcoin for fear of bank closures but they can not stop the bitcoin's influence among the people and stop it.

[PacePay]

Though it is their personal issue but i personally think it is really a bad decision.

yes that is really a bad decision because they are already a developing countries and if these countries will ban bitcoin then they are also banning their nations from the upcoming development of the nations. Their citizens will not be able to participate in the modern world technology and when a time come when all of the internet and international businesses will be in crypto then what will these nations do? they will be the newbies in that age then.

[OSEIBOATENG]

Most countries are banning btc because they are afraid it might overtake their fiat currencies. Nevertheless not all countries will ban it and even with those that have banned it people still use it in the country

[ironman2014]

It is always bad to here something like that, but we are living in a world that cannot just came up with united decision

[laryillary]

Crypto-currency is extremely decentralized - if you prohibit its use on the territory of a particular country, ordinary citizens and entrepreneurs can virtually pay for it, despite blocking key Internet resources related to the exchange and sale of coins. Eliminating workarounds is almost impossible

[tranphuong]

Don't care too much about government decisions. We didn't create bitcoins, we're getting advantages from something created by someone super genius

[btc78]

First,my country is not fool and this is ture enough to entertain cryptocurrency to help our people and economy,second Your misleading people you only want to Have many visitors and commentors but it wasnt banned it was banning i dont know what kind of people are community having now,all wanted to gain attentions damn

[jaocoincrypto18]

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.

Those who will ban Bitcoin have their common reasons in which they think about money laundering and it might be use in illegal activities to think that there is regulation to ensure that their worries will be ease but anyway these countries are not influential in which they have no power to attract some countries to be against Bitcoin too. It will be their loss not ours.

[Bairbe]

The Central Bank of Bangladesh said that the use of cryptocurrency and, in particular, Bitcoin, is a violation of the laws on the prevention of money laundering. Moreover, it also contravenes the provisions of the foreign exchange control Act 1947.

Everything is flowing, everything is moving, and many jurisdictions, including such giants as Russia and China, are still working out a strategy for policy on cryptocurrency. I try to limit and regulate the cryptocurrency market, but they also do not want to stand aside from the new trend of the digital economy. Be that as it may, even if cryptocurrencies have legal issues, their lawyers are definitely not that bad.

[Jamescur]

China also prohibits BTC! This world is the most populous country that prohibits BTC and ICO!
It directly affects the price of BTC. If China opens the market of BTC in the future, the price of BTC will reach a new height!

[Hube950]

Some countries banned bitcoin. Some take it as serious as treating it as an illegal trade or criminal act. Countries like Morocco, Bolivia, ECuador, China and Nepal. Doing bitcoin related transactions is considered a punishable offense

[shakil77]

1.Bangladesh
2.Bolivia
3.Ecuador
4.Kyrgyzstan
5.Nepal
 this 5 countries do not know the value of bitcoin that's why the government banded the bitcoin.and they do not need bitcoin yet.

[AnatoleWright354]

I know, these countries are Bangladesh, Bolivia, Ecuador, Kyrgyzstan and Nepal. Bitcoin was born to help the cryptocurrency market grow. And I think the future of banned bitcoins will soon be using bitcoins in the near future to integrate and grow.

[jcarlo]

Government should be not ban bitcoin or cryptocurrency again. As we know that G20 country already said that they will make a good regulation on cryptocurrency.
If government aware, cryptocurrency give many opportunity for their citizen to make income and government should make a good regulation and not ban it

[Dmitry.Vastov]

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 am the kind of person who thinks bitcoin is a boon and blessing for the mankind and is a fortune for the humanity. There are few countries who has understood well this nature of bitcoin and has legalised crypto currencies in their nation and knows well that introduction of bitcoin can boost the development of country, reduce poverty and provides employment like South Korea, Florida etc but there are still many countries that are completely against of bitcoin and consider bitcoin and other crypto currencies as a fraud.

[gvnsrbtc]

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.

[vnck25]

All these countries cannot make a huge impact on global economy. So I am not worried about this at all. The more developed countries embrace cryptocurrencies and utilize blockchain technology in their industries and perform well, the non-developed countries would also take that path. So it is a matter of time that these "poor" governments learn from their big brothers and move towards a world of cryptocurrencies. In addition, most of these governments are corrupted and using their centralized nature to control the public and the system. Introducing a decentralized, transparent system would cause havoc in the government establishments, this could also be a reason for them to ban Bitcoins!

[bohtrung3]

but what I understand most countries are only negatively affected by bitcoin abuse. Maybe if the positive impacts received by the 5 countries will definitely not be banned for now, but if they think it is the best bitcoin that forbids, then I feel sorry for those who are in jail, Maybe they use bitcoin to fool others, such as money laundering or by trading it with drugs.

[LigwagGanern]

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 think my country will not ban bitcoin, but my country says that using bitcoin was so risky and be wisely in using it. Many countries banned bitcoin, but I know that there is some countries accept bitcoin (like Germany) to buy things, gadgets, foods, etc. And there is some online store accept bitcoin for payment. If you have bitcoin make sure that it is safe, and no one know what is your password because maybe he/she will steal or get your bitcoin.