Which countries have banned bitcoin?

Discussion in 'General Bitcoin Gambling Discussion' started by Kaboom, Sep 20, 2016.

  1. Kaboom

    Kaboom Member

    I know online gambling is illegal in plenty of jurisdictions around the world but have any actual countries completely outlawed bitcoin and other crypto-currencies? I read that Russia was introducing laws that would send bitcoin users to jail?
  2. Lance

    Lance Member

    I don't think bitcoin is illegal in Russia. I know Russia's Ministry of Finance introduced a bill targeting the creation and circulation of crypto-currencies but it was eventually withdrawn following an intervention by the Russian Justice Minister. Hopefully this anti-bitcoin bill will never make it to a parliament vote because it could set a nasty precedent for other countries to follow.
  3. Humble Servant

    Humble Servant Active Member Staff Member

    According to Bloomberg, a coffee shop at the headquarters of state-owned Sberbank PJSC has begun to accept bitcoin. This might seem trivial but it is hugely symbolic and shows that bitcoin and crypto in general will continue to thrive in Russia even if the government or financial sector try to ban it.
  4. Dara

    Dara Member

    didn't iceland ban bitcoin even though they issued their own icelandic cyrpto-currency which failed abysmally.
  5. Humble Servant

    Humble Servant Active Member Staff Member

    Bolivia have banned bitcoin and any crypto-currency that is not approved and regulated by their central bank and government. In a statement El Banco Central de Bolivia said: "It is illegal to use any kind of currency that is not issued and controlled by a government or an authorised entity."
  6. Gooch

    Gooch Member

    Islamic countries like Quatar have extremely strict gambling laws because under Sharia Law gambling is considered sinful. The government does try to block online betting sites but they are still popular amongst the upper class who have disposable income.
  7. Humble Servant

    Humble Servant Active Member Staff Member

    Members of the Italian parliament as introducing a bill that would ban Zcash in Italy because they believe crypt-currencies that are totally anonymous will be used for illicit purposes. This could also be a problem trend for bitcoin as Tumblebit and Mimblewimble layers are added that enhance anonimity.
  8. 2damoon

    2damoon Member

    I'm pretty sure Vietnam banned bitcoin at one point due to fears about criminal activity or something.
  9. Freddy

    Freddy Member

    I was really surprised to learn that India were planning to legalize and regulate bitcoin because the government there has been trying to destroy the black market by removing large denomination bank notes. It seems counter intuitive that Indians can now buy BTC to store their wealth instead of holding large denomination bank notes.
  10. Dara

    Dara Member

    it's only a matter of time before some country going through hyperinflation adopts bitcoin as the official currency. then we'll see whatever despot country is in charge try to shut down all exchanges in the country.
  11. Toast

    Toast Member

    France and Germany appear to be demanding a clampdown on bitcoin now....

  12. Hernia

    Hernia Member

    India have recently banned their banks from working with cryptocurrency exchanges.
  13. Humble Servant

    Humble Servant Active Member Staff Member

    Not just banned the banks, two of the founders of the Unocoin bitcoin exchange were arrested in India for installing Bitcoin ATM's.

  14. PokerGod

    PokerGod Member

    It looks like the Mexican central bank is trying to ban bitcoin. New regulations would only allow businesses to use crypto and not regular retail users...

  15. Jake21

    Jake21 Member

    A member of Congress asked for bitcoin to be outlawed yesterday because it threatened the United States dollar. He's not wrong but it's a little scary to see this.


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