Countries where Bitcoin and other digital currencies have been banned

While Bitcoin has often been referred to as ‘the currency of the world’, there are a couple of countries where governments weren’t too excited about this new payment platform, hence deciding to ban it. While nations such as the United States, the UK and even China have welcomed the digital currency with a positive attitude, this is certainly not the case with the following countries:

  1. Russia

At this moment in time, while a victory which forced the Russian government to remove the process of banning bitcoin-related website has been claimed, bitcoin is still banned in practice. This is most probably the result of the recent geo-political tensions and unwise moves that Russia has been carrying out for the last year, both in its own country, but also in orders.

  1. China

Yes, we specified that China has welcomed Bitcoin with a positive attitude, but we weren’t talking about the government, which went ahead and imposed a ban stating that those who work with banks are not allowed to have any relation to Bitcoin and other digital currencies. However, we’re happy that no other ban was imposed here, as China represents the world’s biggest market for digital currencies.

  1. Bolivia

Over here, the central bank of the country has declared that it is illegal for any resident to use a currency that is not issued or controlled directly by a government or an authorized entity. While not referring strictly to Bitcoin, all other currencies apart from the traditional ones are prohibited.

  1. Sweden

Sweden is often seen as a land of freedom, where people can make their own choices and the laws are quite permissive. However, it seems like Bitcoin has suffered a small ban here as well, as waste products and scrap metal can no longer be traded with the help of the cryptocurrency, because of a scandal that shook the public scene for a couple of weeks.

Based on everything that has been outlined so far, were you aware of the fact that Bitcoin is banned in these countries? What is your personal opinion on these bans? Let us know your thoughts in the comment section below.

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