Bitcoin banned in Sri Lanka

[Btc Specialist]

This is a bad news for us and crypto fans.If a nation want to develop their country then must need to use cryto business.Work in Bitcoin.I think this is the bad decision for Srilanka.

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[OSYA]

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 ?

May I see the link to the information source?

It is a normal thing. Usually, those countries that do not know what bitcoin is just banning it instead of trying to understand what is that and how it works. Apparently, Sri-Lankan government and banks are lazy to conduct their research. 

[Affilate User]

I think some countries have started giving restrictions on the circulation and use of bitcoin in their countries but I am sure it will only make him lose because digital currencies like bitcoin will be used in the future.

[Blue_oxen]

just a small country. even us can't ban bitcoin and japan had been accepted bitcoin so it is nothing for us

[crazycatwoman03]

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 ?

This is another sad news for us. Just like the reasons of other countries that already banned bitcoin, they did not trust Bitcoin because it is decentralized obviously Government wants a centralized because they can control it, another reasons also was, maybe Sri Lanka Governments also wants to avoid to used Cryptocurrency in an illegal services because we knew that it can be a tool to used. However, Even though its true or not this news, we need to respect their decisions because they also have their personal opinion regarding to this kind of thing.

[Jocuserious]

Really are you sure now?? Actually I don't have received yet this news basically it's my first reading topic Sri Lanka countries bank banned in bitcoin.if your topic is true now then I just tell him that is bad Action to everyone Bitcoin users in Sri Lanka.

[egytrickz]

As Sri Lanka became more aware of new developments in technology, they began to understand the concept and principles of the idea but I believe they are not familiar with the idea of bitcoin.

[yuzefa]

I love to see how governments are trying to stop cryptos... But they can't, they will surrend to the innovation first or later...
They can't stop BTC or any other crypto movement.

[Yantoaja]

i don't know how many times the state government has banned BTC in their country, which I want to know the reason for what reasons they can ban BTC as a medium of exchange or investment, even though we are more careful if the government takes BTC deepweb to buy illegal goods is wrong, because we can also buy illegal items with money. maybe the government still can't withdraw taxes from BTC transactions so the government doesn't want their currency to be worthless.

[Ava Duvall]

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.

I also heard that this could be fake news, there should be proof not only an article or two from tabloids on this matter.

[dlouulmusthofa]

how can you say it without any underlying reference? show the article and the data which provide this information and then you can say that

[basyang]

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 ?

I feel bad for this news. Another country banned bitcoin, this is not good. Even though it banned today I knew that it is still open for some possiblities and opportunities when it comes to the innovation of the future in technology, as of now for sure they can not see their country that cooperate in using bitcoin. I knew someday it will change, they will have another reason to change their mind and accept bitcoin as one of their currency.

[admosfir]

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 ... .

yeah, that's true, there are some countries which still ban bitcoin and other crypto for used, but i'm sure on the future all countries will believe bitcoin

[hulla]

I think some countries have started giving restrictions on the circulation and use of bitcoin in their countries but I am sure it will only make him lose because digital currencies like bitcoin will be used in the future.

Hold on guys before you believe what the OP said cause the news was false. Although, Sri Lanka are yet to legalize bitcoin and they don't banned it either but they only warn their citizens about the risk involve in using cryptocurrency.
https://www.cbsl.gov.lk/en/news/public-awareness-on-virtual-currencies-in-sri-lanka
https://www.quora.com/What-are-Sri-Lankas-regulations-about-Bitcoin

Do your own research before you believe what people post

[reverseflash]

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 ?

May I see the link to the information source?

It is a normal thing. Usually, those countries that do not know what bitcoin is just banning it instead of trying to understand what is that and how it works. Apparently, Sri-Lankan government and banks are lazy to conduct their research. 

Precisely, the news is, but where did this information come from, no one knows, but then everyone is surprised where the panic mood comes from.

Prohibition is always easier than accepting a new one. It's not for nothing that they recommend introducing a younger generation into the government, which is not so biased about innovations.

[Pirate46Mx]

I personally do not know for sure what the cause is, but according to my predictions, that might be due to the weakening of the Sri Lankan currency exchange, because people are beginning to switch transactions using Bitcoin.

[Bonsaiav]

After I read some news or articles related to cryptocurrency in Sri Lanka, it seems they still allow the use of cryptocurrency there the reason's because there's no clear regulation regarding this issue the same thing as Indonesia.

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.

[Coroline]

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 ?

because the government assesses bitcoin as a transaction that is dangerous for their country, such as terrorist fees or for illegal drugs or to avoid taxes, so it all depends on the government the country itself agrees or does not have bitcoin

[$9million]

Oh that's really bad. Bitcoin is the future and so being banned will one day bring a problem because bitcoin in a country helps boost the economy of the country and also generates revenue income to the government.

[RiskySanchez]

I'm not suprised if there are several countries banning bitcoin. because bitcoin itself is not a local product from their country, of course they also protect their economy from the dominance of the crypto currency