As Bitcoin becomes more and more popular, the question of adoption in particular countries emerged. Its popularity increased significantly since it was created ten years ago. That doesn’t mean that all countries will have the same approach when it comes to adopting this very popular digital currency. You should know that other cryptocurrencies, like Ethereum and Litecoin, have almost the same treatment as their number one. In countries where this digital currency is legal, people started to create their own communities in order to navigate the market much easier. If you are interested in this topic, check bitcointalkshow.
There are some countries where Bitcoin is illegal and that doesn’t look like it is going to change in the near future. These countries are based on their own currencies without looking at digital currencies. You should know that users in North America will not have to worry about the future criminalization of Bitcoin. However, there are some countries that are not planning to make Bitcoin legal in the near future. We are going to provide you with a list of the countries where Bitcoin is illegal Without further ado, let us start with this list of ours.
This first on our list is Morocco, a country located in the north of Africa. All cryptocurrency transactions are banned in Morocco. In November 2017 MTDS, Moroccan digital service company started talking about accepting Bitcoin as a legal payment method. Making any transactions through any cryptocurrency is not legal in Morocco and is punishable by fines that are pretty high.
The next on our list is Bolivia which has one of the strongest principles when it comes to banning digital currencies. Digital currencies weren’t legal in Bolivia ever. Its government is one of the best-known in the world that enforces the anti-bitcoin strategy. Bitcoin users in Bolivia who were caught in the act are fined. However, some of them were arrested on several occasions when they used Bitcoin.
Now we are going to talk about Ecuador and its anti-bitcoin policy. All cryptocurrencies were banned in 2014 as a plan of their economic reform strategies. The ban of other digital currencies in this country has the purpose of eliminating all of the competition because they have their own cryptocurrency system called “Sistema de Dinero Electronico”. Their digital currency is not based on the blockchain system and is simply represents a digital solution.
In September 2017, China banned all of the cryptocurrencies available in the world. This technology was pretty popular in the country before the ban and the ban didn’t exterminate all of the Bitcoin use in the country. Chinese people continue to trade with this digital currency through WeChat and Telegram.
We would be sure about the legality of Bitcoin in Nepal if we didn’t hear about several arrests that followed in the last months. People who were caught trading with jail terms and fines. We wouldn’t recommend you to use or trade with any digital currencies in Nepal, most definitely.