5 countries that banned bitcoin

[De Suga09]

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

Although my country does not really recognize bitcoin, I think that it will not ban it. The similarities of those countries that ban bitcoin is that they are poor or developing countries. It is true that those who are wealthy become wealthier and the poor become poorer. On the other hand, countries who accept and promote bitcoin are the developed ones such as US, UK and Japan. So come to think of it.

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[Ahmadarwani56]

There are some of the country banned bitcoin, because it might affect to the economy in it.<br />Therefore the country banned bitcoin has agreed to prohibit bitcoin.<br />Because there must be debate and a problem in it.

[aryadiningrat123]

I think almost all countries forbid bitcoin example Indonesia very strictly prohibit its citizens to use bitcoin

[HiBCDirect]

Don't get me wrong, but I suppose it's because almost all these countries do have problems with drug trafficking, so they try to close one more hole, they have more serious problems than just economy.

[PurpleNights]

I understand different opinions and views or whatever the right word is for it but the jailing people involved in cryptocurrency for "money laundering" is outright ignorant 

[Sally34]

money laundering bahahaha. I wonder if cryptocurrency stays around long enough how many years would it take for it to be legal again in these countries?

[MDANWARHOSSAIN]

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

In India Bitcoin is not banned. However, the Govt of India is in dilema to take decision in this regard. So the Supreme court has already instructed GOI to take a legal stand on the cryptocurrency. Hope,  GOI does not ban cryptocurrency.

[Super wich]

Thanks to heaven all those countries that banned bitcoin are of little consequence to the global cryptocurrency liquidity or global blockchain industry direction.

[Pasadoble]

It is sad that some countries ban bitcoin, but we should speak also about those countries which are crypto friendly. Here is interesting link on the topic: https://icoguide.com/en/blog/5-most-crypto-friendly-countries-in-europe

[issacwilliam]

that depends on how will the government officials take it.You can't stop people from using the internet and so they will always find a way to use bitcoin

[Hold good]

While some governments are working to improve the regulatory framework for handling and regulating Bitcoin, the following five countries are determined not to legalize the codified currency: Bangladesh, Bolivia , Ecuador, Kyrgyzstan and Nepal.

[issacwilliam]

that depends on how will the government officials take it.ou can't stop people from using the internet and so they will always find a way to use bitcoin

[budi691]

I think the five countries deserve bitcoin, and the fifth is also not a significant market, in Asia which has the largest consumption market in Indonesia. and Indonesia can be a benchmark for other Asian countries with Cryptocurrency, Indonesia has an important role alongside China in Asia. and China knows that.

[robbietobby]

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.

Don't know if these country will try to activate bitcoin again. Most probably if the government officials use these bitcoin as their majority of transaction in their country. I would probably know that most of their governemnt officials utilize these kind of transactions. Technically, they know what they were doing.

[Choyor]

Some news say some countries forbid the existence of Bitcoin for various reasons, especially for countries with weak economies, yes the government can only ban Bitcoin but can not stop it.

[naldal barcelona]

Bitcoins is just an opportunity. Even if my country would ban bitcoins in the future, I just go to another country for Bitcoin.   

[ArifNewaz]

Countries ban Bitcoin because they are scared off freedom. These are the same countries where internet is regulated and monitored, and many other dictator like ideas are implemented. Bitcoin is risky but they ban Bitcoin because they won't be able to control all the money in the country.

[CurtisEvans]

countries that have forbidden bitcoins are afraid of crypto-currencies because of the volatility, They cannot prevent people from using Bitcoin. Bitcoin is completely anonymous when used. This is the core of Bitcoin.

[Humza Arain]

I know that the US also prohibits using this coin.

[autoauto]

I found a problem. Didn't you know if you found it? I think they are all small countries and they are all economically weak countries. They fear cryptocurrency to rob their country.