Bitcoin banned in Sri Lanka

[Charithacrypto]

Last past months Sri Lanka's Main Bank (Bank of Ceylon) was banned cryptocurrencies in Sri Lanka. What do you think is the reason for that ?

[polladwills]

Last past months Sri Lanka's Main Bank (Bank of Ceylon) was banned cryptocurrencies in Sri Lanka. 

[bitfocus]

May be it was last month, some warning issues to crypto by central bank of Sri Lanka.

[jossiel]

Are you sure that Sri Lanka's Bank of Ceylon banned bitcoin? I'm looking for an article that has this news but the results are poor.

This is one of their latest statement: April 16,2018.

Public Awareness on Virtual Currencies in Sri Lanka

They are giving warning to their people but there's no ban.

[utpalk]

Last past months Sri Lanka's Main Bank (Bank of Ceylon) was banned cryptocurrencies in Sri Lanka. What do you think is the reason for that ?

If some nation want to progress, they will have to accept crypto.

[tranduc2101]

Last past months Sri Lanka's Main Bank (Bank of Ceylon) was banned cryptocurrencies in Sri Lanka. What do you think is the reason for that ?

If some nation want to progress, they will have to accept crypto.

Agree with your comments. All countries that banned Bitcoin is countries poor and small. They want to develop, but they think that Bitcoin and cryptocurrency will make their economies go down. But I hope in the future, these countries will have positive thoughts about Bitcoin

[sader1]

Is it true. It is a very bad news. If the country need to be developed they need to accept crypto currency.

[dovizex]

WOWWW!! Bad news..

[BestW1shes]

How did they forbid this and how do they regulate the crypto?

[Erlinda Santiago]

Last past months Sri Lanka's Main Bank (Bank of Ceylon) was banned cryptocurrencies in Sri Lanka. What do you think is the reason for that ?

is this true? Thats sad for them they cant use bitcoin as legalized money they might find it hard to invest bitcoin because of that

[franky1]

its not a ban

its a memo,
a mmo that say that the central bank of sri lanka will not be held accountable for any actions done by businesses and that the central bank does not insure or licence it.

.. the central bank doe not endors or licence baked beans.. thats why you dont see a bank slling baked beans.
until there is a GOVERNMENT LAW. that states it is illegal to operate a crypto business. and that law mentions the penalty.. then just treat the memo as what it is .. a memo

nearly every country has released an investor warning memo that investing in crypto is risky and a bank will not insure losses

[mobnepal]

Last past months Sri Lanka's Main Bank (Bank of Ceylon) was banned cryptocurrencies in Sri Lanka. What do you think is the reason for that ?

Its bad for Srilankan crypto enthusiasts if true but atleast haven't heard about police arresting people working on the field of cryptocurrency in there so those ban might be quite weak one. Government that don't have enough manforce to design and implement regulatory framework for cryptocurrency are just banning the whole bitcoin thing, they consider it as just a headache. While developed countries have already started producing blockchain developers and they already had patent registered for blockchain based product which they gonna sell to those same poor country who have banned blockchain based crypto right now.  

[Chetan04]

Oh god that is not good. After India now in Sri Lanka also. Sad for cryptocurrencies

[Charithacrypto]

Is it true. It is a very bad news. If the country need to be developed they need to accept crypto currency.

Of course I agree with you.

[umar22pk]

It’s correct they are not banning crypto trading but they are giving warning to their peoples to keep away from crypto, reason was there is high rate of profit & loss, so if someone will trade in digital currency have to bear loss as well.

[cryptodalton]

That's sad to know. I hope gradually in future they will understand the worth of crypto currency and withdraw its ban for the betterment of their economy.

[ubercool]

Have anyone seen any concrete news on this.? I cant find any article referring to this. In fact, Sri Lanka is more open to crypto and can become "Malta" of South Asia region.

[ys fs]

I'm not surprised if bitcoin is prohibited in some countries because bitcoin is not legal for some countries, because bitcoin currencies are still not inaugurated in a country, but if you think bitcoin still needs development again because bitcoin has not been legal in some countries ... .

[cryptohunter]

Oh god that is not good. After India now in Sri Lanka also. Sad for cryptocurrencies

Yeah terrible news all that investment and volume lost.

[cryptohopes]

That is really a sad news. I think they also think that Bitcoin is a threat for their economy which made them to ban Bitcoin. I think they are actually afraid of the volatility of bitcoin. I just hope that Srilanka will soon understand it and withdraw the ban.