Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Paglamon on May 19, 2020, 04:13:15 PM
-
Nepal:
Nepal is one of those countries where cryptocurrency is still not accepted. Cryptocurrencies were declared illegal by Nepal Rastra Bank on 13th August 2018.
Bangladesh:
Joining the list is Bangladesh. It has strictly banned the use of cryptocurrency and has laid down laws that whosoever caught red-handed in trading in it, will have to face the brunt of the law. The announcement was made by the central bank of Bangladesh in September 2014.
Egypt
Egypt also falls under the category of those countries, where cryptocurrency is still not accepted and is been prohibited under Islamic law known as haram.
Pakistan:
Like the above countries, cryptocurrencies are not given warm welcome in Pakistan. These digital currencies are strictly banned in this Islamic nation. The banks here strictly prohibit the use of these currencies.
Bolivia
Here comes another name in the list of countries where cryptocurrency is still not accepted. Back in 2014, the use of cryptocurrencies was banned by Bolivia. It was banned because it was being used for unlawful activities.
Conclusion:
All the above names are those countries where cryptocurrency is still not accepted. The concept of cryptocurrency might have got relief after being accepted in India. If you are abreast of cryptocurrency latest news, then you will know that RBI never came in support of this digital currency concept and put the ban on it. However, since the ban has been lifted off by the Supreme Court of India, people are now allowed to trade in cryptocurrencies of their choice. But still, there are countries like Pakistan, Bolivia, Nepal, Bangladesh, and Egypt where trading in cryptocurrency is still a crime according to their law. So don’t make any blunder mistake by trading cryptocurrencies in any of these countries.
If you are a resident of all these countries, please comment. Tell more details about the situation in your country.
-
If you look at the economic sense of that country that you mentioned in the list. I might say that they are still lag in terms of innovation because a cryptocurrency is a form of innovation by using the internet and with the help of Blockchain technology. so just let them sleep with the old system that they wanted.
-
One characteristics of all these countries are that they are all muslim countries and they are rule govern under the islamic laws. they are controlled by a sect that determine how their economy is been run. some of these countries were affected by crisis and economic meltdown. we might see a slight change in the coming days for countries like egypt and nepal
-
I do not think islamic law prohibits cryptocurrencies and innovation rather i have seen fatwas from around the world in its favor and even donations are accepted in bitcoin by many islamic charities and organizations it is just the central banks in all these countries that have announced cryptos as illegal just becuase they have no framework or policies regarding them but we know everyone is still trading and investing in coins so i am sure these countries will also allow them officially soon.
-
Yes, those countries still don't accept crypto. But we must specify it or make it in detail. In my country, crypto is accepted as a digital asset but it is not allowed for a payment purpose. You must know Indonesia, it is my country. We are an Islamic country even if not all people are Muslim, but crypto isn't Haram here.
-
Even I'm not a resident of the mentioned countries still I have freedom to say my opinion. 😁
Actually, Evey country that has cryptocurrency or adopted cryptocurrency came from strictly prohibited cryptos. Now the world is moving fast going forward never going backward as seen on technology, gadgets, warships, high-tech companies, high-tech houses, missiles, money into digital. The current event is the motion going to another scenario of transactions, transportation, development and innovation.
Cryptocurrency will become part of human daily living in the future.
We cannot deny the existences of technology and digital system.
Someday, those countries will come together with other to support the platform of cryptocurrency and blockchain.
-
Many countries have not permitted bitcoin as legally... Bangladesh such kind of country. I believe in future unfriendly countries also will accept bitcoin as legal.
-
Well, hopefully the countries will follow others to accept Crypto. As we know some of the countries also only accept crypto as a digital asset but don't allow it as a payment tool. We can convert the crypto asset to fiat. It also happens in my country, but no problem for me.
-
They can try but they know it's not possible to control people I bet that there is a lot of people in those countries using cryptocurrency, and is the best part, governments can't do anything to stop it 8)
-
I would like to add Vietnam & Russia. In these 2 countries, people have the right to own BTC but cannot buy or sell them :)
Perhaps the lawmakers believe that everyone can mine and create BTC ^^
-
The regulation can change, so someday we probably see that those countries accept crypto. I think they may accept crypto at least as digital assets. But to be a payment tool or alternative currency in those countries is quite difficult.
-
You are right that those countries bann crypto currencies but i think government can not stop those countries people to trade or earn cryptocurrencies. Today's online world no body can not stop this sector. Yes here is trust is factor. If you have personally trusted person in those countries you can trade with them otherwise it should not do.
-
I am from one of these countries. The world is changing and it's becoming more digitalized faster. I think Govt of these countries should realize that too and adapt to the situation. I think there is nothing wrong with using new technology for our own advantage. I Hope the Crypto ban will be removed from these countries very soon.
-
Actually many countries which does not accept cryptocurrencies. But the thing is, most of the country now are using digital payment so we are not far from our go to be recognized by countries.
-
Are these lists all of the countries that still legalize the crypto? Well, I think there are still more. Every country has its own regulation, especially related tot he economy and finances, They probably still legalize crypto because crypto is considered not stable and disturb their financial system in the country.
-
Are you sure it has been all of the countries? I think that it is still many more. It is quite surprising of the data. However, nowadays, many more countries are interested in and starting in the crypto world. It is both for investment and also trading
-
Although cryptocurrencies are thriving and accepted for payment in a number of countries around the world, in Vietnam, bitcoin is not currently recognized as a legitimate means of payment.
-
I would like to add Vietnam & Russia. In these 2 countries, people have the right to own BTC but cannot buy or sell them :)
Perhaps the lawmakers believe that everyone can mine and create BTC ^^
But there are crypto currency projects created by Russian?
I think there are conflict interest between Russian government and the community?
-
Above countries where bitcoin is strictly prohibited but it cannot create a negative impact on cryptocurrency specially in bitcoin because united state of America, Canada, Australia, India, Austria, New Zealand, Japan, Russia and others friendly ecoieted countries are deeply support bitcoin.
-
There are many countries that have not yet been approved. However, most developed countries have approved it. For example, the economies of the United States, United Kingdom, Canada, Australia, China, Russia, Japan, etc. are very active. They gave with the approval of cryptocurrency. But some developing and small countries did not approve of cryptocurrency. However, there are bitcoin users in all countries. But very soon all countries will approve.