Bitcoin

Countries Where Bitcoin is Banned or Made Legal in 2020

If you have bitcoin, no matter legally or illegally, but you want to sell it off, then you must first find out the list of the countries where it is legal and where it is illegal. There are many cryptocurrencies with various kinds of regulation that happened. Some of the states have widely accepted cryptocurrency as a part of the economy. They have allowed the citizens to use the bitcoins to buy, sell, and rent anything they might need.

Some of the countries have not yet bothered to regulate the cryptocurrency that is there in the system. In the current situation, we found that almost a significant part of the world is almost on the way to making it legal. If you are interested in bitcoin trading, you can get started right now

Countries Which Have Banned Cryptocurrency

The banning of cryptocurrencies happens where the government does not allow this kind of virtual currency. Otherwise, almost the entire world gladly welcomes bitcoins and the cryptocurrencies. On the other hand, some of the countries have gladly banned the use of cryptocurrencies. These countries have not still given any clear idea about what is the possible reason behind such a harsh step. Many of the people of those countries where bitcoin has been banned do use bitcoin. It is tough to identify why these countries banned the virtual country just because there is no centralization process.

Names of the Countries

There is a long list of countries where the use of bitcoin is banned. We would consider them here, Pakistan, Afghanistan, Bolivia, Algeria, Republic of Macedonia, Bangladesh, Vietnam, Saudi Arabia, Qatar. These are the countries where the countries have banned the use of the cryptocurrency strictly. But there are some countries which have restricted bitcoins. Even then, it was seen being used in countries like India, China, Ecuador, Morocco, Indonesia, Zambia, Nepal, Egypt, and American Samoa. These are the countries where people can use bitcoin, but not very openly, then they would be questionable by the government.

If you look into the matter very carefully, then you will realize than banning, and the restriction is within the law of the country, but this does not mean that it has stopped the people from using it for purposes like trade and business. It is just that the government does not want to make it regular so that the fiat currency falls, but also wants the crypto to work for a broader perspective like an investment, etc.

Very logically, the experts say that bitcoin can not be banned because it is not in any power of the government. This must be clear to every countryman that no government holds any power to ban any cryptocurrency. It is just because no government can ban internet connection, so as long as there will be an internet connection, the government will not be able to stop you from anything.

Countries Which Have Legalised Cryptocurrency

More than 100 states have accepted bitcoin gladly, and they have made it legal by all means. The judicial law of the land recognizes the cryptocurrency majorly. Canada and the United States are very crypto-friendly, they have no such problem with the crypto, and they also allow the state to use it.

The government of such countries is also trying to facilitate the stay of the virtual currency as much as possible so that they have no problem staying in the country legally, and no one is able to throw them off like that. They have allowed the crypto bases to be legalized and also allowed to use them naturally.

Countries Where Bitcoin is Legal

It is nearly impossible to mention all the names here, but we will mention some of the countries where bitcoin is legal. Ukraine, Japan, Malta, Switzerland, Germany, the Netherlands, the United Kingdom, Germany, Singapore, etc.

Conclusion

As of now, we saw all the countries where the bitcoins are banned, legal, and illegal, but now let us also know one more thing: there are many countries where the bitcoin is neither legal nor illegal. Hence it entirely depends on the discretion of the states and the government whatever decision they decide to take.

Leave a Comment

Your email address will not be published.


CAPTCHA Image
Reload Image