Countries Who Banned Cryptocurrency

That is when the streak of bans against Bitcoin started. In Egypt the government has not placed an official ban on bitcoin but the Islamic Legislator has said that cryptocurrency is not allowed under Sharia law.

With The Main Intention To Prevent Money Laundering And Illegal Activities South Korea S Biggest Crypto Exchange Bithumb Trading Cryptocurrency News Exchange

107 rows Several countries across the Middle East have banned cryptocurrency including Saudi.

Countries who banned cryptocurrency. 107 rows Several countries across the Middle East have banned cryptocurrency. Thailand banking ban on crypto. Algeria banned the use of cryptocurrency in 2018 citing that it lacks the physical backing that fiat currency has.

Ecuador follows Bolivia in banning crypto. At present many powerful countries have banned Bitcoin and cryptocurrency trading in a move to avoid loss of power from monetary authorities and curb illegal activities. At the time Bolivia was the only country in South America with an outright ban.

Bolivia becomes the First Country to Ban Bitcoin in 2014. Morocco banned it a year earlier due to concerns about hidden payments. In such states banks and other financial service providers are prohibited from dealing with cryptocurrency exchanges and companies and in more extreme cases the countries have even banned crypto exchanges etc China.

Here are countries like China India Russia Saudi Arabia completely banned cryptocurrency activities from their territory. Vietnam ban on using crypto for payments. Jordan banking ban on crypto.

The United Arab Emirates exchanges and ICOs are prohibited but it is possible to get a license to trade crypto.

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