Using Bitcoin Is Banned In These bitcoin creator murdered Countries – Can You Guess Them? It was in 2009 when the world was getting introduced to the new digital currency: Bitcoin.
Get the entire 10-part series on Timeless Reading in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. Bitcoin is the world’s first decentralized digital currency. It is not regulated by any government or any single entity.
Yet, the original owners of Bitcoin cannot be identified: they are registered as digital addresses which have no correlation to real life. Yet, in some nations even holding BTC can be considered as criminal offence. Kyrgyzstan has banned the use of all forms of cryptocurrency as a payment method in the country, including Bitcoin and Altcoin. Although, there is no law prohibiting Kyrgyz people from buying, selling and using Bitcoin as a commodity. All of the world’s digital currencies, including Bitcoin, have been prohibited to be used as a payment method in Ecuador.
Yet, this country has created its own electronic money system: Ecuador’s Sistema de Dinero Electrónico, clearly recognizing the technology’s benefits. As a part of Iceland’s Foreign Exchange Act, the use of Bitcoin in any transactions is prohibited. There is no authorization to purchase foreign currency from financial institutions in Iceland or to transfer foreign currency across borders on the basis of transactions with virtual currency. For this reason alone, transactions with virtual currency are subject to restrictions in Iceland. Bolivia by The Central Bank of Bolivia. Vietnam keeps the usage of Bitcoin across the country very regulated. Vietnamese authorities believe that Bitcoin is not a lawful payment method.