List of Bitcoin banned countries

In this article we will cover almost all the countries where bitcoin use is prohibited.

Here we will talk about only those countries where use of Bitcoin will result in a crime or illegal activity.

List of countries where Bitcoin is fully ban 

• Algeria
• Egypt
• Morocco
• Bolivia
• Nepal
• Pakistan

If you are living in these countries, then you should not think about bitcoin or another crypto asset in any way.

Because it is against the laws and rules of the government to use crypto. 

Let’s see how and when bitcoin or cryptocurrency was banned  country by country. 

Algeria

In Algeria ,Bitcoin was banned on 28 December 2017.

According to Art.117. Any person in Algeria can’t use cryptocurrency. Buy, sell, hold, transaction and any type of other activity with bitcoin or another coin will leads into a punishable offend.

And the reason behind to ban virtual currency in Algeria is , Virtual currency are not supported by any physical authority, so it can be a reason of high loss risk factor for their citizen.

There are two statements by the government entities of Algeria was published regarding virtual currency. You can read These two statements here 3 Jan 2019 & 14 Aug 2018

Egypt

Bitcoin was banned in Egypt in mid of year 2018 .

In Egypt, The Primary Islamic union of Egypt issued a statement about cryptocurrency, Bitcoin and another types of transactions in the commercial field of Egypt are classifying as haram .

Haram is a word, which means wrong, illegal, non-sense work or something which is not acceptable from the point of social work by a common man.

You can read about the statement issued by Egypt’s Dar al-Ifta here .

 Morocco

Bitcoin was banned on December 2018 in Morocco. 

The decision of ban of Bitcoin was supported by almost all the authorities of the Morocco country which was shocking for the citizens of Morcco.

Final decision of ban on bitcoin and other virtual currency was taken On 19 December 2017, In a press conference , the governor of Bank Al-Maghrib, said “, 

Bitcoin is not a currency, it is a financial asset and it is easy to use for illegal activity and crimes, so it is mandatory to restrict bitcoin in a framework of ban regulation, so that people will remain in safe zone. 

You can read the actual official statement here .

 Bolivia

In Bolivia Bitcoin and another cryptocurrency was banned in the beginning of year 2014.

The central of the Bolivia issued a statement regarding bitcoin and another crypto currency. They stated that Bitcoin and another related currency are not supported by any country or economic zone which can leads into economic crash in Bolivia.

You can read the official statement here .

Ecuador 

In Ecuador, Bitcoin was banned in September 2014. The government of Ecuador stated that, bitcoin and another digital currency use is totally prohibited.The official statement you can read here .

But here it is totally shocking that, government of Ecuador didn’t gave any reason of ban in more precise way, which is a very disappointing part for the cryptocurrency users in Ecudor.

It is believed that the government of Ecuador started a electronic money system, where one person can send to another person without any restriction of tax or rule system, which was similar to bitcoin concept . According to government of Ecuador their digital electronic system was much better then bitcoin because bitcoin is not supported by real authority while their electronic transfer system was integralted with dollar and another local fiat currency system directly.

Nepal

In Nepal, bitcoin was banned on 13 August 2017. 

Government of Nepal stated that Bitcoin as a scam like a thing and it has no monetary value. 

You can read more about it here .

Government of Nepal arrested dozen of people who were running cryptocurrency exchange,  for more about this you can read here.

 According to the rule of Nepal government, any type of engagement in cryptocurrencyrelated work will be treated as crime.

Pakistan

In Pakistan, all types of crypto related currencies was banned on 7 April 2018.

State bank of Pakistan issued a restriction rule over all the financial institution, that they can not do any type of transaction regarding cryptocurrency and also they can’t give support to any crypto related organisation indirectly or directly.

The official statement by the state bank of Pakistan was posted on twitter, you can read here .

Since bitcoin is fully banned in Pakistan but still many people are using it, may be such type of people are not aware about their future under the law of Pakistan.

Conclusion of this article in short :

If you are living in either of the country Algeria, Egypt, Morocco, Bolivia, Nepal , Pakistan . Then don’t use Crypto currency in any form .

Even if you are thinking that you will try to mine Bitcoin or another crypto is totally out of the law , then you are wrong .

Almost all ban rules over cryptocurrency, clearly indicating, you can’t do anything regarding Cryptocurrency.

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