COUNTRIES THAT BANNED BITCOIN
Before we start to our topic this I want to tell that some of you might know about this but I just wanna share this to those who are not.
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.
Bangladesh2.
Bolivia3.
Ecuador4.
Kyrgyzstan5.
NepalIt 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_territoryso what do you think? will your country will ban the use of bitcoin?
do you know other countries that ban the bitcoins?
Please share it and tell to everyone
There are many countries that declared BTC as an illegal cryptocurrency because there is no governing body over BTC and this thing compromise the national security and this is the reason for banning BTC in their respective countries but in my country India, conditions are quite different, in India BTC is illegal and government is not the governing body over BTC but u can own BTC, it's not illegal, though government is not responsible for any kind of losses Bt u can own it at ur own risk, I think this is the only disadvantage of BTC and with time this would also end.
