Bitcoin banned in Sri Lanka

[Dudeperfect]

To be honest, banning Bitcoin is not possible because Bitcoin is based on the blockchain technology which relies on the principle of decentralization and since we have the blocks all over the world it is almost impossible for any country to ban it entirely. However, banks or any government have the authority to ban Bitcoin to fiat and vice versa transactions but even in that case, we can always use cash or other valuable commodities legally as far as we are not disrespecting any law to exchange Bitcoin.

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[kamilah147]

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 ?

everyone does not know exactly what the cause is, but I think that in the country of Sri Lanka it prohibits bitcoin, surely there is a big reason, or maybe because the current price in the market is falling continuously, Sri Lanka does not believe that bitcoin will be destroyed and give disaster for them.

[Larva14]

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 ?

A sad news for bitcoin users in Sri Lanka. However we don't have a whole news in which we can see the reason why the government of Sri Lanka banned bitcoin. Since the government of Sri Lanka has the right to do it. But I think they can still used it like converting it to coin.ph or into cash

[kkaroul4]

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 ?

many countries that also prohibit bitcoin are also many reasons that the country may be one of the reasons that causes inflation of local currencies, and money laundering may be in my opinion

[insurgent]

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 ?

Some countries also banned bitcoin but the people who live there who is really determine to invest in bitcoin find a way. Its kinda sad because what if sri lanka people want to invest but they dont have given a chance. I hope their government change their mind about this.

[BestBoardroom36]

Yes, it is a bad news but I must say it will not going to affect the future of bitcoin because Sri Lanka is a developing country on the other hand many developed country accept bitcoin.

[Drakula]

Yes, it is a bad news but I must say it will not going to affect the future of bitcoin because Sri Lanka is a developing country on the other hand many developed country accept bitcoin.

I agree with you. I think there's some reason why did they forbid it but lets hope it can be opened so that every one can have a chance of investing in it if they desired

[al maruf]

Bitcoin banned in Sri Lanka You have not shown any evidence about this. And this news is not entirely accurate. That is their bank warned them. You see that all the countries are afraid of accepting Bitcoin, those countries are poor countries. The rich countries do not talk about Bitcoin but. So there is nothing to worry about. All the business comes with some problems or something. But it is like waiting for a business to have fun. There are many successes too. So I think it's not a problem.

[Tatsuyashiba]

really a very unfortunate thing where a country immediately blocks something new, maybe because of some reason your country blocked crypto, either because of its security or about taxes and crypto wealth not counted in a country's GDP

[Sevarchik]

Bad news for Sri Lanka, but i think this ban for using crypto, nobody do not restrict you holding cryptos.
I am sure soon this ban will be canceled and then if you have coins will be good

[HerbertMarcel]

The government took  really a very fool decision of ban bitcoin because Sri Lanka is a developing country and bitcoin can help to improving their condition.

[Elerntta]

I am very upset every news about the ban of bitcoin. It's a little slow its development. But I hope that the government will reconsider its opinion and accept bitcoin on its territory.

[Dondisimo]

I do not think that this ban will last forever,as when the whole world will switch to cryptocurrency, the rest of the countries will have nothing to do but to accept bitcoin. Otherwise, they will lag behind world development.

[ehiozuwa]

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 ?

Another sad case of politician trying to protect their sponsors, bitcoin is always desired by all as more persons see the progress  and solutions it offers. They are grossly misinformed about bitcoin and cryptos

[hometester]

excessive passion for cryptocurrencies and the fall of bitcoin

[CryptoGuro1]

I think you will see more and more of this, untill regulators have no choice but to allow it flourish once the mases go against their wishes

[Babyrica0226]

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 ?

Sri lanka is not the only country who did banning crypto, there are others do the same thing like Russia if I am not mistaken, but in the end they've revoked it, then now they are very opened into crypto/bitcoin, because they've found out that Crypto and bitcoin could give a big help to their economy and to their citizens too as well.

[satria2]

excessive passion for cryptocurrencies and the fall of bitcoin

Everyone has their own opinions about the benefits of Bitcoin or about the ugliness of Bitcoin. then you should understand about the country.

[commablockchain]

I searched a bit on google, and is there any actual evidence of this ?

[Gagah119]

In Indonesia, the government prohibits bitcoin as a means of payment but does not prohibit bitcoin investment, I think the case in Sri Lanka is exactly the same as in Indonesia, sorry if I'm wrong.