Bitcoin is breaking the internet these days. Everyone seems to be interested in Bitcoin and other cryptocurrencies. Bitcoin now has a market cap of over $124.9 billion. People around the world regret not investing their money into Bitcoin when the digital currency was in its early stages, and cheap. But sadly Bitcoin is banned in several countries. Central banks and authorities remain skeptical of the new currency. Below is the list of countries where Bitcoin is banned.
Although China has become the world’s largest Bitcoin trading market,the country has strictly banned digital currencies on banks because 70% of the central banking authority is owned by the Chinese government. Banks and their employees are prohibited to get involved in Bitcoin business through banking, as well as engaging in business or servicing with Bitcoin industry. For common citizens, trading using Bitcoin is not banned yet.
In September 2014, Bangladesh mentioned that Bitcoin lacks any central payment system due to which they banned it. They believe that it could financially harm their citizens. Hence, if you are found using Bitcoin trading in Bangladesh, it would lead to legal actions …read more