FX.co ★ Five countries where Bitcoin is banned - 2017

Analysts are unanimous in the opinion that cryptocurrencies are gaining popularity. The cryptosphere grows and conquers the world. Governments of different countries have to reckon with this phenomenon. States are adapting to the changed realities in different ways: in some, digital money is approved, in others - it causes a negative attitude. Some countries have already succeeded in imposing a ban on working with cryptocurrency. We propose to learn more about this.

Nepal

In Nepal, the сryptocurrency fell into disfavor: the financial regulator of the country Nepal Rastra Bank completely banned any operations with cryptocurrencies. The authorities do not hide that they see in digital money a threat to the national economy. In the country, several people allegedly involved in the management of crypto exchanges in Nepal, were arrested.

Bolivia

Three years ago, El Banco Central de Bolivia imposed a ban on the use of any cryptocurrency. The reason for this was a major scandal involving a cryptocurrency pyramid. Scammers were found out, but thousands of angry deceived investors came to the Bolivian streets. As a result, the authorities completely banned the cryptocurrency activity in the country.

Ecuador

The government of Ecuador has also made Bitcoin illegal, but the reason is not fraudulent schemes. The authorities of the country planned to take cryptocurrencies under absolute control and bind the bitcoin rate to the US dollar. Recall, the US currency is officially recognized as a national means of payment in Ecuador. After they failed, the country created its own cryptocurrency, controlled by the authorities.

Kyrgyzstan

In Kyrgyzstan, cryptocurrencies are not officially banned, although they can not be used as a means of payment because of vulnerability and not being backed by tangible assets, as local authorities note. This coincides with the position of the National Bank of Kyrgyzstan, voiced back in 2014. As a result, the only legal currency is the Kyrgyz som.

Bangladesh

Three years ago, a ban on the use of cryptocurrency was introduced in Bangladesh. Bangladesh bank declared Bitcoin outlawed and warned of criminal liability for violation. As a result, for any operations with a cryptocurrency here you can take the rap up to 12 years, according to the laws on combating money laundering.