Bitcoin banned in Sri Lanka

[Leadership58]

It is really a very sad news but the reason behind this ban is still unknown and I think all the rumors about bitcoin is the main reason for this accident.

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[Nabilo]

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.

Bad news for us, and especially for the people around Sri Lanka, this is an opportunity for them to maximize the use of BTC, and unfortunately the government has warned the people who are using Bitcoin, it may be a warning sign but it is also a sign that the people should be staying away, before anything else happens, hopefully some things may improve, and may they not ban BTC.

Yes it is true bitcoin is now banned in Sri Lanka, I've seen a few freelancers who don't accept bitcoin i was curious about that.
But now i get it.

[Suslura]

It is really a very sad news but the reason behind this ban is still unknown and I think all the rumors about bitcoin is the main reason for this accident.

It is unknown why they are beginning to disseminate such information, since many leading countries are already starting to work with crypto currency. It is not for nothing that this issue was raised at the G-20 summit.

[Okrah]

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 ?

Maybe because the bank is afraid of the crypto currency. And the possible reason for this is the bank might be afraid of it or they just do not have the full knowledge of it.

[Taronet-division]

I don't see it, maybe it's just a warning not a ban. the government certainly will not be responsible for what happened with crypto which they consider too risky

[Cuneng10]

isn't it already long in that country bitcoin has been banned? because of this news the price of bitcoin used to be a bit slumped

[yussuzc1]

They probably want to protect their citizens from scam ICOs. Or a crypto money exchange may have spread the personal data of many citizens.
On the way this was too heavy, could have come to an arrangement instead.

[Uyiosarugue1]

It is sad that some countries are not very welcoming of bitcoin, denying their citizens the opportunity to benefit from the global economy of bitcoin/Cryptocurrency

[orarider]

Right. The Sri Lankan government has banned bitcoins. They think that bitcoin is illegal. Bitcoin can affect the national currency system of Sri Lanka. This is not good news for investors in electronic money here.

[killerfrost]

I know the Sri Lankan government has banned bitcoin. This is bad news for all investors. The bitcoin market here is difficult. The reason is that the Sri Lankan government does not trust bitcoin. They think bitcoin will adversely affect the economy.

[cahbagus555]

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 ?

Government can create many reason and many excuses. But I am believe third country will following advance country in next several years and regulate bitcoin for transaction and for trading because government can earn taxes.

[MTNAX]

I think the ban on using bitcoin in Sri Lanka is bad news, considering bitcoin is very useful and it is unfortunate if bitcoin is prohibited from being used in Sri Lanka. The Sri Lankan government may be afraid that bitcoin will disrupt the economy in Sri Lanka's economy so that it prohibits it and considers bitcoin to be bad. Hopefully one day bitcoin will be accepted in Sri Lanka.

[Tahir460pk]

Well it's not a good news for both that bitcoin is banned in Sri Lanka they must be sit on tabel and clear each other eligtion and government don't be afraid from it , hope for a best in future.

[warwar]

The legal status of Bitcoin is not defined in Sri Lanka. According to short commentaries of local bureaucrats, SL Central Bank seems to be supportive of digital currencies. However, CB officials consider crypto as something to look forward to only in the future, which might take 5 to 10 years. This position could be partially explained by a relatively low Internet penetration rate in Sri Lanka, which makes most of its citizens still unaware of Bitcoin. Anyhow, selling/ buying crypto-currencies and organizing ICOs are not against the law in SL.

[Spontebob]

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

How unfortunate. They banned bitcoin because they lack the knowledge about its capbilities or because of the news and articles about users being scammed since there are still scammers in the community.

[DavidBolster]

It is a very old news and it is not full in Sri Lanka and I still don't get any reliable source of this news but if it happens then it would must be a wrong decision of Sri Lankans government.,

[CryptoCClendon]

They can continue banning, the truth remains that they can never ban the future, they can't ban blockchain they can't ban technology

[Kaznachej123]

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 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 BTC. Humans are scared of new things and they are upset that they are losing congtrol adn what they control the Sri Lankan Rupee they have messed up

[Janet Wright]

I think they accepted to change. They will lose benefits from BItcoin and spend that money in the different major in economy.

[Patrick Carvalho]

That's a bad new! The BItcoin market will be  a little bit narrow by Sri Lanka. I hope this government will soon change the policy in order that Bitcoin will comeback. I believe that they know how to make profits.