Bitcoin banned in Sri Lanka

[Renal]

I think cryptocurrency is not prohibited in rare parts but the banned there is if the crypto user happens something with their crypto then the government will not bertangung with the occurrence something will compete in tangkung every user crypto.

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[Veronika94]

Still understand that not all countries will take bitcoin.  The more there are users of crypto currency, the less they will remain.

[bitterdog]

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 ?

It such a sad news for us in bitcoin market, that there are country that banned bitcoin again. But, we have to respect the governments decision regarding to bitcoin. I think the reason is because the risk that bitcoin have. Maybe Sri Lanka is afraid that their people  will be the victim of bitcoin's scam or money laundering.

[yurekaa]

the prohibitive factor of bitcoin is overwhelming. and it all depends on the country of Sri Lanka and they have the authority to ban or legalize bitcoin in their opinion. although prohibited, people in the country can still use bitcoin because trading or mine does not involve the government.

[digitalgame4life]

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 ?

It such a sad news for us in bitcoin market, that there are country that banned bitcoin again. But, we have to respect the governments decision regarding to bitcoin. I think the reason is because the risk that bitcoin have. Maybe Sri Lanka is afraid that their people  will be the victim of bitcoin's scam or money laundering.

I understand the fact that a country can be scared and dont want their people to be victims of scams, but clearly they havent done research about bitcoin, blockchain and therefore bitcoin will give a government and a country huge advantages by adopting it, they dont need to ban bitcoin but can make certain rules,banning bitcoin entirely is taking away the freedom of people and letting them feel like they are in jail, its rather stupid than smart to ban bitcoin.

[Romeotom]

I don't see or read this news about banned bitcoin in the country Sri Lanka,but I read one article statement they are giving warning but no have banned.bitcoin market got some bad this for the few countries not now accept in legally.but I have confidence it's few countries will give good news for the accept to do.

[NelfiNovita]

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

I think they have taken inappropriate action, if they forbid crypto in their country means they are ready to face poverty, because every developed country will accept crypto and its users have been in every country.

[erichall]

Maybe I am ignorant but I don't see how any government can actually ban bitcoin. Considering all the numerous ways to acquire crypto, it's not possible to ban it.

[Vimukkthi Vithanage]

Hi
According to my knowledge cryptocurrencies are not banned in sri lanka. Yes central bank of sri lanka issued some warning notices telling that investing in crypto is riskful and the central bank of sri Lanka can't  monitor or take any responsibilities for such activities. But what I feel is sri lanka can't go with the world like that.. if world economy is now moving to cryptocurrencies sri lanka too have to do that
Thanks

[ninabobo]

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 ?

not more like any other Asian country that prohibits the trading of crypto and bitcoin.
but there is no great effect even if Sri Lanka really forbids it. I think the disadvantage is in Sri Lankan society.

[patisaspy]

Bitcoin cannot be entirely banned. You can ban exchanges and so on, but Bitcoin itself is a digital ledger running on thousands of nodes and you cannot ban it.

[genuin]

in Indonesia also used to be like that but the government quietly doing research on bitcoin so that can be studied more depth about bitcoin. I as a bitcoin user still think positively about the development of bitcoin in the world because most people feel very helpful about the existence of bitcoin in the world

[Tinaw]

Oh that's not good,but I think sri lanka is becoming more aware of new developments in technology they have started to understand the concept and principles of this idea but I believe they are not used to the idea of bitcoin.

[CNMOH]

I never understood these reasons for the ban of bitcoin by the country government and the banks... i am from india and recently india had also banned the bitcoin and srilanka being its neighbour country...i am not at all surprised with this news.

[vagsun]

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 really a bad news for crypto family that Sri Lanka's Central Bank i.e Bank Of Ceylon ,banned crypto currencies in Sri Lanka. According to my views the Sri Lanka's govt. might have thought that it would be threat for their economy. What I observed is ,only small and poor countries are banning crypto, hope these governments will be having a positive views regarding crypto in future.

[cryptohipo]

Bitcoin, being a decentralized system,  keeps getting banned every now and then in different countries. But it's not much a matter of concern since the ban is removed after some time. Countries will be needing cryptocurrency to get developed.

[dangkhoasn]

This is news we do not want. Sri Lanka has been added to the list of countries banned from using cryptocurrencies.
I think they are concerned about money laundering and smuggling using cryptocurrencies.

[pushups44]

I think some developing nations are afraid that bitcoin will pose a challenge to their fiat currencies. Most developing nations have struggled with high inflation and view cryptocurrencies as a potential catalyst for a currency collapse. The smart nations are embracing the technology due to its potential to strengthen the economy in the long run.

[hamdyinvestments]

They can slow us, yes.  Stop us? Thats not a possibility.

All silly act aside, Countries and leaders who take measures like this against Cryptos for security reasons are missing the point.....

I mean, if you will use Cryptos for illegal purposes then you may aswell use them when they themselves are illegal to use....  

If we are talking about terrorists, gangs, drug dealers etc or even plain money laundry folks... these guys wont be sitting cute at the public library now that theres a Ban on BTC.

[danice15]

I believe these countries like SRI LANKA is still having doubts or skeptical about the digital currency.Their still against cryptocurrency and yes this is a very sad news.