Bitcoin banned in Sri Lanka

[deathland113]

Just another Asian country of small economical power next to Bangladesh has banned bitcoin.On the other hand,no big economical power country has taken such an action.

the big economic power country that banned bitcoin just only China till now. some other small countries keep banning bitcoin and crypto as payment that's normal and same as they don't allow people use USD as payment in their countries but people still accept it quiet

[kopamo]

I heard this news. It is very bad news for cryptocurrency. I don't know why government want ban cryptocurrency. They  should  accept cryptocurrency

[kucritt]

many reason why a country banned bitcoin in their county, the main reason is because the government can't trace the bitcoin user and when they see that there are criminals that using bitocin they can;t do anything, so they will blocked the bitcoin for makes the criminals in their country reduces

[Gogochen]

So if there is a competitive relationship between the crypto-money market and the traditional banking industry, it is perfectly normal that they ban it.
However, I am more curious about the source of this news.

[Voevoda]

Just another Asian country of small economical power next to Bangladesh has banned bitcoin.On the other hand,no big economical power country has taken such an action.

protection of its sovereignty and isolation of citizens from globalization. this is a very difficult way in the current time, may in the future fences will help

[Charles Warren]

As srilanka 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.

[cryptoaro]

There is a no against with bitcoin. but someone doesn't like bitcoin invest. Banks are always try to hold
money with their system. when we invest to money for crypto curries our money spend world wide.
That's a reason for banned bitcoin in your country.

[DarrinEspacio]

Such a sad news to hear that the main bank of Srilanka named the bank of Ceylon has banned the usage of the bitcoin but i think they will soon get their mistake.

[pehatas]

The reason is most likely in the large volatility of the crypto currency market and its fall in the last 5 months. I give a guarantee that this law will be canceled in the next 1-2 years.

[itssawai]

Are you sure they banned it or just gave some kind of warning? If the ban is for real, it's really sad. A moving country won't directly ban cryptocurrencies instead they will research more about it, it's use cases, future development, growth potential and the technologies involved in it.

[worle1bm]

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 ?

As far as my knowledge is concerned it's not a direct ban but only a warning by centeral bank not to indulge in these crypto trades and not providing services to investors.So we cant say it is ban in Sri Lanka as there is no official announcement by the government of the nation.But they need to do more research about it as it will help to boost economy of underdeveloped and developing nations in a positive manner.

[adzino]

Never heard anything about Sri Lanka banning bitcoin. Did a quick google search and found no such news. Did you just hear it from someone? Just make sure you verify what you hear before posting such things. There are only like few underdeveloped countries that have banned bitcoin. Sri Lanka isn't in the list. But the bank did issue a warning about the risks associated with investing on crypto currency.

[Daniel9140]

This is not a good news in anyway for cryptocurrency. Cryptocurrency is very volatile and anyone that wants to trade Cryptos must be prepared to accept the profits and loss. I believe with time, the country would see the benefits of cryptocurrency and would remove the ban.

[rehydrogenated]

Oh no, not Sri Lanka!!!! But all jokes aside, for small countries banning crypto is far easier than dealing with the ramifications of multinational criminal organizations trying to launder there money. Or even more recent news of Russian hackers using bitcoin to help sway the US election. What does a small country like Sri Lanka do when criminals try to go through their country to obscure the source of funds? Sri Lanka has a strong banker presence as well. The bankers want to protect themselves from crypto or at very least not have to spend money trying to stop this new technology from disrupting everything.

[saLve88]

According to my knowledge crypto currency is not yet banned in Sri Lanka just the warning announcement came from Central Bank of Sri Lanka. It doesn't mean that you cannot trade crypto just you need to be cautious when dealing with it as no one is gonna responsible in legal issues. If you have a source that Bank of Ceylon has banned crypto in Sri Lanka could you please share the link to source?

[neite99]

as I have seen in an article they had just warned the investors and nothing else like a step towards banning, but if you could provide us a link than the things would get clarified if I am wrong.

[TmottaDing]

Well most of the people in here do not care about that because i am more than sure in that there is not a huge amount of users in here coming from Sri Lanka, and i am more than sorry for all the people that are from there, but what can we do against it?

[lamcouz]

This time going when the valuation of bitcoin is going too much low and every one is just worried when it will recover again but I think in my opinion this is a very great opportunity for all of us when we can buy more and more bitcoins according to our capacity and according to the capital you possess so that you can hold as maximum of the bitcoin and can sell them when the valuation will increase and in this way you can earn highest money!

[MilesMoses]

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

They may be warning on crypto currencies but ultimately they also do deal with crypto currencies for the better profits and it is just the profession they maintain as we could experience top ambassadors deal with already.

[ginobitcoiner]

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 ?

yes I know and I heard the country of Sri Lanka does not ban the bitcoin they just warn. and that warning is not a ban, it's so much different.
do not make matters worse with this bad news, you are too big an issue