Bitcoin banned in Sri Lanka

[Winifred2609]

At this stage, after they realize that technology is important, it is too late. Or rather Sri Lanka is a small country. However, even so we can not forbid bitcoin and Japan has been accepted bitcoin so it is nothing for us

[kauban2018]

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 ?

Is it true that Sri Lanka banned Bitcoin? This news is new to me. Having this kind of crypto business will help a country to develop in some other aspects and it may also help their people from poverty. So this means people will get poorer and poorer because they maybe cant handle even this kind of business.

[Ashong Salonga]

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

Well this is not a good news for all of those people in sri lanka who really wants to invest in crypto, banning bitcoin in other countried is really bad news for many people who also wants to be very profitable in cryptocurrency, hoping in the next few years sri lanka will make bitcoin legal.

[ranman09]

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

Well this is not a good news for all of those people in sri lanka who really wants to invest in crypto, banning bitcoin in other countried is really bad news for many people who also wants to be very profitable in cryptocurrency, hoping in the next few years sri lanka will make bitcoin legal.

Actually, they have not banned bitcoin, they just released a memo concerning the safety of investors and business that uses cryptocurrencies.

[quocsi]

is it right. I heard many experts say that Sri Lanka's main bank only issued a warning to its citizens to avoid electronic money but they did not issue a ban. Therefore, investors can still invest in electronic money. And this news does not significantly affect the value of bitcoin.

[tikaka]

Sad news to bitcoin investors in Sri Lanka. More and more countries banned bitcoin and its market is shrinking. It will probably affect the bitcoin value. In the future I hope not to see more countries banning bitcoin anymore.

[JimmyJeri]

we can not find the exact reason why bitcoin is banned, if yes, we must have been prevented from banning bitcoin

[yigga]

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 banned brother, This a just warning and not any effect. They only warning for ICO investment but Hope we can have good news later. Just neglect that and do your works

[endut15]

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 that bitcoin is experiencing an impossible situation. then Sri Lanka's state rejects the circulation of bitcoin, because they fear that bitcoin which is currently happening can harm the country's finances, so they prohibit bitcoin to circulate.

[ngm22585]

This is unfortunate, but it's important to remember that Sri Lanka is not a major player when it comes to global finance, or even Asia.  All in all, this is a minor setback.

[abarbaz]

The lawful status of Bitcoin isn't characterized in Sri Lanka. As per short discourses of neighborhood civil servants, SL Central Bank is by all accounts steady of advanced monetary standards. Be that as it may, CB authorities consider crypto as something to anticipate just later on, which may take 5 to 10 years. This position could be in part clarified by a moderately low Internet infiltration rate in Sri Lanka, which makes the vast majority of its natives still unconscious of Bitcoin. In any case, offering/purchasing cryptographic forms of money and arranging ICOs are not illegal in SL.

[bubblebubble]

It's fantastic noting how State changes own approach toward crypto. Japan pushes on the accelerator, other States forbide crypto to avoid money move on foreign bank accounts...

[Pyr3x]

Perhaps the authorities of this country are afraid that cryptocurrencies can disrupt the order of the economy. But I think it's stupid. How can modernization of the economy and the country as a whole be banned? Why resist progress?

[3la9l_kolbaCa]

Perhaps the authorities of this country are afraid that cryptocurrencies can disrupt the order of the economy. But I think it's stupid. How can modernization of the economy and the country as a whole be banned? Why resist progress?

Don't get intimidated from this new, because I don't think sri lanka's people give up on this. Possibly the government banned their bitcoin's but they cannot prevent their people of having transactions online. Bitcoin is decentralized and it has no barriers for where it's going to be converted to fiat earnings.

[rtm125]

I am far from this country and do not know what guided the government of this country by prohibiting the functioning of cryptocurrencies. And why? I don't see anything wrong with using bitcoin, as it can make all payment transactions much easier and safer.

[aryaadikariyansyahsuwarto]

maybe the negative impact caused by the new bitcoin feels and is just emerging. If left like this continues, it is not impossible that other countries will also be banned from bitcoin. For that reason, don't make a negative impact on bitcoin, because it will hurt us ... !!

[ojotoyo10]

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

Every country must make regulations so that the use of bitcoin can be accepted by the public. Bitcoin does not belong to one country but in my opinion bitcoin is one of the important assets in the world.

[samycoin]

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 think they did not ban it but warn the people to be vigilant and extra careful about crypto investment because we all know how crypto risky is. Much better that centralize bank aware about crypto because they want a better to the people.

[deppil]

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

Every country must make regulations so that the use of bitcoin can be accepted by the public. Bitcoin does not belong to one country but in my opinion bitcoin is one of the important assets in the world.

Thats right. especially bitcoin is a foreign currency according to the government. and the government also does not have any control and any benefits that may be obtained so it is natural that the government in some countries prohibits it. but in my opinion that it will change when the government has found a win win solution for this

[dealsmith]

This is not the only case, as many countries have also banned the use of bitcoin, which may be for a variety of reasons. They may be worried that if the bitcoin grows too strong, they will not be able to control it, and it will completely replace the paper money. So, when the paper money is gone, the banks disappear, which in turn affects the government's large revenue.