Countries that banned bitcoin

[kangug24]

Several people believe that bitcoin was a blessing and it was an opportunity
for everyone but not everyone shares the sentiment. From central banks and other finance company, Bitcoin’s list of detractors runs for a very long time and gone so deep.But most of the government around the world seeks for the regulation of bitcoin.

Be due to fear,ignorance and protectionism, governments have a tendency to legislate against perceived threats.Countries such as japan protects its citizens to have free trade of the digital currency.But unfortunately not all countries embracing the change of our technology.In some cases citizens have had their assets seized,accounts got frozen and have been locked up, Government can’t stop the blockchain from propagating, but they can stop their people in having access to it.

STOP THE BITCOIN!!
Like banning drugs,alcohol and other stuffs banning bitcoin sounds nonsensical and unforceable.That’s the exact case in five countries:

1.Bangladesh
2.Bolivia
3.Ecuador
4.Kyrgyzstan
5.Nepal

It was recently reported in https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/
that there were dozens of bitcoin and crypto enthusiasts get imprison seemingly guilty of little more than operating a small-scale bitcoin exchange.

Meanwhile Ecuador has outlawed bitcoin, nit because they opposed this crypto but because they want to regulate and control it and tether it with the Ecuadorian dollar.An Electronic money designed to operate ad support monetary scheme dollarization.Completing the naughty list of countries that have banned bitcoin is Kyrgyzstan, a tiny landlocked state in Central Asia,
And Bangladesh banned bitcoin, it was 2014 where Bangladesh bank stated that anyone that will be caught using such online currency could be jailed mostly because it’s about “MONEY LAUNDERING”.

this was already an old news for updated list

https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

Do you know some other country that banned bitcoins?

[Ezzi]

Several people believe that bitcoin was a blessing and it was an opportunity
for everyone but not everyone shares the sentiment. From central banks and other finance company, Bitcoin’s list of detractors runs for a very long time and gone so deep.But most of the government around the world seeks for the regulation of bitcoin.

Be due to fear,ignorance and protectionism, governments have a tendency to legislate against perceived threats.Countries such as japan protects its citizens to have free trade of the digital currency.But unfortunately not all countries embracing the change of our technology.In some cases citizens have had their assets seized,accounts got frozen and have been locked up, Government can’t stop the blockchain from propagating, but they can stop their people in having access to it.

STOP THE BITCOIN!!
Like banning drugs,alcohol and other stuffs banning bitcoin sounds nonsensical and unforceable.That’s the exact case in five countries:

1.Bangladesh
2.Bolivia
3.Ecuador
4.Kyrgyzstan
5.Nepal

It was recently reported in https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/
that there were dozens of bitcoin and crypto enthusiasts get imprison seemingly guilty of little more than operating a small-scale bitcoin exchange.

Meanwhile Ecuador has outlawed bitcoin, nit because they opposed this crypto but because they want to regulate and control it and tether it with the Ecuadorian dollar.An Electronic money designed to operate ad support monetary scheme dollarization.Completing the naughty list of countries that have banned bitcoin is Kyrgyzstan, a tiny landlocked state in Central Asia,
And Bangladesh banned bitcoin, it was 2014 where Bangladesh bank stated that anyone that will be caught using such online currency could be jailed mostly because it’s about “MONEY LAUNDERING”.

this was already an old news for updated list

https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

Do you know some other country that banned bitcoins?

I think the government does not like bitcoin due to the fact that it is too influential,because it has a huge price and it does not go to the state Treasury tax

[Dynamite]

The basic reason why the government doesn't like bitcoin due to its pumping and dumping scenario. This is what they doesn't like the most because there is clear big chance to get rich and then become poor in just a moment or a day. Or maybe the country is not prepared to manage this kind of business.

[sampoerna]

The government still thinks bitcoin is a fraud scheme. Money coming from new investors will be paid to old investors. Besides that, bitcoin is considered a crime because it is feared that it will become a part of terrorist funding.

[bitpation]

@sampoerna, besides being feared for terrorist financing, money laundering is also one of the reasons why the government still bans crypto in my country. Perhaps one reason is because crypto cannot be controlled by the government.

[mojerjer]

Ever since Bitcoin has created,there are already some counrties who do not accept Bitcoin but for me,Bitcoin will rise and role the world as this coin is the future currency.This.coin will be slowly accepted in some country soon.